Published By Janet Gershen-Siegel at March 3rd, 2019
Looking for the best new business credit card? We did the research for you. So here are our favorites.
Per the SBA, company credit card limits are 10 – 100 times those of personal cards.
This shows you can get a lot more cash with company credit. And it also means you can have personal charge cards at retail stores. And you would now have a second card at the same shops for your business.
And you won’t have to provide collateral, cash flow, or financial information to get company credit.
Features vary, so be sure to choose the reward you prefer from this range of possibilities.
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to get a credit limit of $500 – $25,000. The amount offered equals the amount of money 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 will be.
This card lets company owners with bad personal credit to acquire a card to make purchases and establish business credit.
But the card will just report to the personal credit bureaus if you default or are behind on payments.
For a 0% APR time frame, we prefer the Ink Business Cash ℠ Credit Card. Also, you pay no annual cost. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. But you will need to have a credit score of 690 or higher.
For an introductory 0% APR time period, we also like the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on day-to-day company expenses up to an annual limit. But the standard APR is 12.24% – 20.24%. So this APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $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 varying categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly 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 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 gas stations and office supply stores. But this is as much as $250,000 yearly.
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 on offer to applicants with exceptional credit.
But you can only redeem your cash back in $25 increments.
In addition, have a look at the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without any 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 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 Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. So you start 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 annual fee. But this card is only on offer to those with great or exceptional 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 introductory 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 per year.
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 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 straight with Delta. Also, earn one mile per qualifying dollar spent on purchases.
Earn 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, get one point per dollar on all other purchases. There is no limitation to the amount you can earn.
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 a credit score of 690 or higher.
But KEEP IN MIND: the ongoing APR is 23.99% variable APR.
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 5 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 yearly fee for the first year. But afterwards your annual fee increases to $175.
Your very best new business credit card has a basis in your credit history and scores.
Only you can determine which advantages you want and need. So be sure to do your homework.
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.