Published By Janet Gershen-Siegel at May 7, 2018
Are you searching for the best no fee business credit card? Our research turned up some stellar choices. We researched a considerable number of corporate credit cards; here are our favorites.
Per the SBA, corporate credit card limits are 10 – 100 times those of personal cards! This means you can get a lot more money with small business credit. And this also means you can have personal charge cards at shops, and now have an alternate card at the same retail stores for your business. And you won’t have to put up collateral, cash flow, or financial information in order to get corporate credit.
Features vary, so be sure to choose the reward you prefer from this collection of possibilities.
For a 0% APR time frame, we like the Ink Business Cash ℠ Credit Card. You pay no yearly cost. It’s got an interest-free period. It has versatile cash-back rewards. There are spending limits for your employees. You will need a credit score of 690 or higher. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For an introductory 0% APR period, we also go for the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on typical business expenses up to a yearly cap. The standard APR is 12.24% – 20.24% (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. You start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee. Afterwards, the purchase APR is a variable 10.49% – 18.49%, which is dependent on creditworthiness. There is no annual fee. This card is just available to people with great or outstanding credit. Unfortunately, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Also, investigate the Blue Business Plus Credit Card from American Express. It has a 15-month introductory 0% APR offer. There is no annual fee. Right now corporations can earn double points on the initial $50,000 in purchases annually. Get it here: https://creditcard.americanexpress.com/blue/
Here are a few other types of business credit cards with differing perks, as you might find something you like better.
For Fair Credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. You will need to have a credit score of 690 or better. NOTE: the ongoing APR is 23.99% variable APR. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/
For Travel Points, we prefer the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles after you make $1,000 in purchases on your new card within your very first three months. Terms and limitations apply. Also earn a $50 statement credit after you make a Delta purchase with your brand new card during your first 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile on each qualifying dollar spent on purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279
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 sign up for the Starwood Preferred Guest program. There is also a $200 annual air travel fee credit. There is a $100 credit towards the Global Entry application fee, including access to TSA PreCheck program. You get one point for every dollar spent on the majority of purchases. You get 1.5 times the points on charges of $5,000 or more on qualified purchases, up to one million additional points yearly. You get five points per dollar spent buying flights and prepaid hotels from the American Express Travel web site. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Also, make sure to take a look at the Ink Business Preferred Card from Chase. Earn 80,000 bonus points once you spend $5,000 on purchases within your initial 3 months from account opening. Earn three points per dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone, advertising purchases made with social media sites and search engines each account anniversary year. Earn one point for each dollar on all other purchases. There is no limit to the amount you can earn. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-business-preferred
Check out the SimplyCash Plus Business Credit Card from American Express. You can earn as much as $400 cash back. Get a $200 statement credit after spending $5,000. You get 5% cash back at US office supply stores and on wireless phone services bought directly from US service providers (this applies to the first $50,000 of yearly spending). You also get 3% cash back on the spending category of your choice, from eight separate categories, which include air travel, gas, advertising and computer purchases (applies to first $50,000 of yearly spending). Additionally you get 1% cash back on all other purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279
Also, take a look at the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can get a $200 statement credit after $500 in purchases during 60 days of account opening. You also get 3% cash back on purchases at filling stations and office supply stores (as much as $250,000 yearly). And you get 2% cash back on purchases at eateries, and 1% cash back on all purchases. There is no yearly fee. It is offered to applicants with outstanding credit. Your cash back can only be redeemed in $25 increments. Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/cash-rewards-business-credit-card/
Furthermore, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without restrictions. New cardholders can also get a $200 cash bonus as soon as they spend $3,000 on new purchases within three months of account opening. New customers also get initial APR of 0% on purchases for nine months. There is no yearly fee. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/
Have a look at the Business Gold Rewards Card from American Express OPEN. You can earn 50,000 Membership Rewards points after $5,000 in purchases on the card during first three months. You get three points on your choice of five categories, two times the points on the remaining categories, and one point per dollar on all other purchases. It has a $0 yearly fee for the first year, and after that your annual fee increases to $175. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards
Also, have a look at the Business Platinum ® Card from American Express OPEN. You can get as many as 75,000 Membership Rewards points upon account opening. You can also earn 50,000 Membership Rewards points subsequent to spending $10,000 and an extra 25,000 points after spending an added $10,000 all on eligible purchases within the initial three months. Plus you can get five times the Membership Rewards points on flights and prepaid hotels on amextravel.com. However; it has a $450 yearly fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Take a look at the Wells Fargo Business Secured Credit Card. It allows cardholders to procure a credit limit of $500 – $25,000. The amount available is identical to the amount of money you furnish to secure the line. Your purchase APR rate can be as low as a variable 13.15%. The yearly fee is $25. The more cards you have the more expensive your yearly fee will be. This card allows small business owners with inadequate personal credit to get a card to make purchases and establish business credit. The card will just report to the personal credit agencies if you default or are late on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Your absolute best corporate credit cards are dependent on your credit history and scores. Only you can determine which perks you want and need, so make sure to do your research. And, as always, make sure to build credit in the prescribed order for the optimum, fastest benefits. Check out how this will help your company get business credit cards.