Published By Janet Gershen-Siegel at March 12th, 2019
Are you looking for the best credit card – small business –wise? We did the research for you. So here are our favorites.
According to the SBA, company credit card limits are a good 10 – 100 times those of personal cards.
This means you can get a lot more cash with company credit. And it also means you can have personal charge cards at shops. And you would now have a second card at the same shops for your small business.
And you won’t need to have collateral, cash flow, or financials in order to get corporate credit.
Benefits vary, so be sure to select the advantage you prefer from this variety of choices.
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount offered matches the amount of cash you furnish to secure the line.
Your purchase APR rate can be as low as a variable 13.15%. And the annual fee is $25. But the more cards you have, the more expensive your yearly fee is going to be.
This card lets company owners with bad personal credit to get a card to make purchases and build business credit.
But the card will only report to the personal credit agencies if you default or are overdue on payments.
For a 0% APR time frame, we like the Ink Business Cash ℠ Credit Card. Also, you pay no annual fee. It’s got an interest-free time period. It has versatile cash-back rewards. There are spending limits for your employees. But you will need to have a credit score of 690 or higher.
For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn twice the points on daily business expenses up to a yearly cap. But the normal APR is 12.24% – 20.24%. So this APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. So you start off with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer charge.
Thereafter, the purchase APR is a variable 10.49% – 18.49%. And this is dependent on creditworthiness. There is no yearly fee. But this card is only available to people with great or superb credit. But there is no rewards program for purchases.
Also, take a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no yearly fee.
Right now small businesses can get double points. But this is on the initial $50,000 in purchases every year.
Get it here: https://creditcard.americanexpress.com/blue/
Consider the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card during first three months.
Also, you get three points on your choice of 5 categories. In addition, get two times the points on the other categories.
Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your annual fee rises to $175.
For Fair Credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. But you will need to have a credit score of 690 or better.
But BEAR IN MIND: the standard APR is 23.99% variable APR.
Check out the SimplyCash Plus Business Credit Card from American Express. So you can earn up to $400 cash back. Get a $200 statement credit. But this is after spending $5,000.
Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to first $50,000 of yearly spending.
You also get 3% cash back on the spending category of your choice. So this is from eight varying categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending.
Additionally you get 1% cash back on all other purchases.
With it, you can earn a $200 statement credit. But this is after $500 in purchases . And that is during 60 days of account opening.
You also get 3% cash back on purchases at filling stations and office supply stores. But this is up to $250,000 per year.
Also, you get 2% cash back on purchases at eateries. And get 1% cash back on all purchases. Also, there is no yearly fee. But it is available to applicants with outstanding credit.
But you can only redeem your cash back in $25 increments.
Furthermore, take a look at the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is with no limitations.
New cardholders can also get a $200 cash bonus. But that is once they spend $3,000 on new purchases. So this is within three months of account opening.
New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no annual fee.
For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is during your first three months. Terms and limitations apply.
In addition earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first 3 months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile per eligible dollar spent on purchases.
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
You also get Gold Status when you register for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.
There is a $100 credit towards the Global Entry application fee, including access to TSA PreCheck program. And you also get one point per dollar spent on most purchases.
Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualifying purchases. But this is up to one million more points each year. Get 5 points per dollar. But this is for spending flights and prepaid hotels from the American Express Travel site.
Also, be sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is in first three months from account opening.
Get three points for each dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.
Also, earn one point for each dollar on all of the other purchases. There is no limitation to the amount you can earn.
Your absolute best credit card small business depends on your credit history and scores.
Only you can decide which benefits you want and need. So be sure to do your research.
And, as always, make sure to build credit in the recommended order for the max, fastest benefits.
Check out how our reliable process will help your business get the best business credit cards.