Published By Janet Gershen-Siegel at September 8, 2018
Written by Janet Gershen-Siegel
Be a winner! The best small business credit card with no annual fee can be yours
According to the SBA, business credit card limits are 10– 100 times those of personal cards! This means you can get a lot more cash with company credit. So this also means you can have personal credit cards at shops.
And you now have an alternate card at the same retail stores for your company. So you will not have to put up collateral, cash flow, or financial information to get small business credit.
And business credit cards can help you smooth out any financial bumps in the road. Much like personal cards, they can even help you budget – if you use them responsibly and you pay on time.
Features vary, so be sure to select the benefit you prefer from this array of alternatives.
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. But this is within 60 days of account opening.
You also get 3% cash back on purchases at gasoline stations and office supply stores. So this is up to $250,000 annually. And you get 2% cash back on purchases at restaurants. Also, you get 1% cash back on all purchases.
There is no annual fee. It is available to applicants with excellent credit. But you can only redeem your cash back in $25 increments.
Furthermore, check out the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without limitations. New cardholders can also get a $200 cash bonus. But this is once they spend $3,000 on new purchases. And it is during the first three months of account opening.
New customers also get introductory APR of 0% on purchases for nine months. There is no annual fee.
For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. You start off with twelve months of 0% APR financing on new purchases and balance transfers. Also, there is a 3% balance transfer fee. Afterwards, the purchase APR is a variable 10.49%– 18.49%. So this depends on creditworthiness.
There is no annual fee. This card is only on offer to people with great or excellent credit. However, 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 annual fee. Right now corporations can get double points. But this is on the initial $50,000 in purchases yearly.
Get it here: https://creditcard.americanexpress.com/blue/
Take a look at the Business Gold Rewards Card from American Express OPEN. You can get 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card. And it is during first three months.
You also get three points on your choice of five categories. And you get two times the points on the remaining categories. Also, you get one point per dollar on all other purchases.
It has a $0 yearly fee for the first year. But then your yearly fee climbs to $175.
Check out the Wells Fargo Business Secured Credit Card. It helps cardholders to procure a credit limit of $500 to $25,000.
The amount available is the same as the amount of cash you provide to secure the line. Your purchase APR rate can be as low as a variable 13.15%.
The annual fee is $25. But the more cards you have, the more expensive your yearly fee will be.
This card allows small business owners with inadequate personal credit to obtain a card to make purchases and establish business credit. But the card will just report to the personal credit agencies if you default or are overdue on payments.
You may find the best small business credit card with no annual fee is not quite perfect for you, so here are some other choices. Keep your mind and your options open!
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 period. It has versatile cash-back rewards. There are spending limits for employees. However, you will need to have a credit score of 690 or higher.
For an introductory 0% APR period, we also like the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. Also, you can earn twice the points on routine business purchases up to annual limit. The regular APR is 12.24% – 20.24% (variable).
Get it here: https://creditcard.americanexpress.com/blue/
For Fair Credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. However, you will need to have a credit score of 690 or better.
KEEP IN MIND: the ongoing APR is 23.99% variable APR.
For Travel Points, we like 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 card in your first 3 months. Earn two miles per dollar spent on purchases made directly with Delta. Earn one mile per qualifying 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 sign up 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, which includes access to TSA PreCheck program. And you also get one point for every dollar spent on most purchases. Also, you get 1.5 times the points on charges of $5,000 or more on qualifying purchases. However, this is up to one million more points each year. Get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel website.
Also, make sure to check out the Ink Business Preferred Card from Chase. Earn 80,000 bonus points once you spend $5,000 on purchases within your first three months from account opening.
Earn three points for each 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. However, this is for each account anniversary year.
Also, get one point per dollar on all of the other purchases. There is no limitation to the amount you can earn.
Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn up to 75,000 Membership Rewards points at the time of account opening.
Also earn 50,000 Membership Rewards points subsequent to spending $10,000. In addition, get 25,000 more points after spending an additional $10,000 all on qualifying purchases within first three months.
Also you can get five times the Membership Rewards points on airline flights and pre-paid hotels on amextravel.com. However, it has a $450 annual fee. So make sure it’s really the best deal for you before taking the plunge. Really – because this is no small fee.
Your best small business credit cards depend on your credit history and scores. Only you can make a decision on which rewards you want and need. So make sure to do your research.
And, as always, make sure to build credit in the recommended order for the best, fastest benefits. Check out how this will help your company get the best small business credit card with no annual fee.