Published By Janet Gershen-Siegel at November 19th, 2018
Craving the very best credit cards for business? We did the research for you. So here are our favorites.
According to the SBA, small business credit card limits are a whopping 10 – 100 times those of personal cards!
This means you can get a lot more cash with small business credit. And this also means you can have personal credit cards at shops. So you would now have an alternate card at the same stores for your small business.
And you won’t need collateral, cash flow, or financials to get company credit.
Advantages vary. So be sure to pick the reward you prefer from this collection of options.
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to get a credit limit of $500 – $25,000. The amount available equals the amount of money you offer to secure the line.
Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the more expensive your annual fee is going to be.
This card lets company owners with bad personal credit to get a card to make purchases and set up business credit.
But the card will only report to the personal credit bureaus if you default or are late on payments.
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. Also, you pay no yearly cost. It’s got an interest-free period. It has flexible cash-back rewards. There are spending limits for employees. But you will have to have a credit score of 690 or better.
For an introductory 0% APR time 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 company expenses up to a yearly limit. But the standard APR is 12.24% – 20.24%. So this APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
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 within your very first three months. Terms and limitations apply.
Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Also, earn one mile per qualified 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 the majority of purchases.
Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualified purchases. But this is up to one million additional points each year. Get five points per dollar. But this is for spending flights and prepaid hotels from the American Express Travel website.
Also, make 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 restriction to the amount you can earn.
For Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. So you begin with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.
Thereafter, the purchase APR is a variable 10.49% – 18.49%. And this depends upon creditworthiness. There is no yearly fee. But this card is just available to people with great or superb credit. But there is no rewards program for purchases.
Also, investigate 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 corporations can earn double points. But this is on the first $50,000 in purchases yearly.
Get it here: https://creditcard.americanexpress.com/blue/
Have a look at the Business Gold Rewards Card from American Express OPEN. So you can get 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 five categories. In addition, get two times the points on the remaining categories.
Also, get one point per dollar on all other purchases. It has a $0 annual fee for the first year. But afterwards your yearly fee climbs to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. So you can earn as many as 75,000 Membership Rewards points at the time of account opening.
Also get 50,000 Membership Rewards points. But this is after spending $10,000.
In addition, get 25,000 more points. But that is after spending an added $10,000 all on qualified purchases. But this is within first three months.
Additionally you can get five times the Membership Rewards points. So this is on airline flights and prepaid hotels on amextravel.com. But it has a $450 annual fee. Yikes!
For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual 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 the first $50,000 of yearly spending.
You also get 3% cash back on the spending category of your choice. So this is from eight separate categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending.
In addition you get 1% cash back on all other purchases.
Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card.
With it, you can get 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 gas stations and office supply stores. But this is as much as $250,000 yearly.
Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is on offer to applicants with exceptional 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 without limitations.
New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first 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 yearly fee.
Your optimal company credit cards are based upon your credit history and scores.
Only you can decide which perks you want and need, so be sure to do your research.
And, as always, make certain to build credit in the prescribed order for the max, fastest benefits.
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