Published By Janet Gershen-Siegel at September 22nd, 2018
Are you on the lookout for the best small business MasterCard? We took care of all of the research for you. We inspected a ton of small business credit cards; here are our favorite MasterCards and some extras, too!
Per the SBA, corporate credit card limits are 10 – 100 times those of personal cards! This shows you can get a lot more cash with small business credit.
And this also means you can have personal charge cards at stores, and now have a second card at the same shops for your small business. Also, most importantly, you will not need to have collateral, cash flow, or financials to get business credit.
Benefits vary, so make certain to choose the advantage you prefer from this selection of options. Not all MasterCard credit cards are the same. So pick the benefit which makes the most sense to you and your growing small business.
For a 0% APR time frame, we prefer the US Bank Business Cash Rewards World Elite™ Mastercard®.
Earn up to 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases. All other purchases earn 1% cash back. Purchases of gasoline greater than $200 will not be deemed to be a purchase of automotive gasoline. And as such will earn a reward of 1%. Get $500 cash back if you spend $3,000 in the first 90 days from account opening. Earn a 25% annual bonus based on your prior year’s cash rewards, to $250. Pay no annual fee. Enjoy a 0% introductory APR for the first 12 billing cycles. After that, pay 13.99-22.99%based on creditworthiness.
To hit the bonus limit, you would have to have spent over $33,000 in the previous year. However, the initial spend requirement isn’t too bad, and can certainly be met with purchases of computers or the like. The APR after the introductory period is acceptable. If your credit is such that you qualify for the lower APR, this card could turn out to be a decent deal.
The best cash back business credit cards might be more your speed.
Next, be sure to check out the Banner Bank Commercial Rewards Mastercard. Pay a $19/card annual fee. 11.99% APR for purchases. Pay an 18.00% APR for cash advances. And pay a 1.10% international transaction fee. Get 1% cash back.
Get three TruRewards points per dollar of net retail, internet, phone, or mail order purchases. Redeem TruRewards points for cash back, travel, gift cards or merchandise. TruRewards can be redeemed from all sorts of merchants, including Starbucks, the Fairmont Hotel, and Cuisinart.
TruRewards offers (for example) a $100 travel voucher with Budget Rent a Car if you redeem 43,300 points. Even with three points per dollar, that still comes to spending over $14,000 to get $100 off! And it can cost over $100 per day to rent a compact car from Budget. The APR is decent although the annual fee is concerning, particularly as there is no introductory waiving of the annual fee.
Consider the Suntrust Bank Non-Profit Credit Card. It is especially for nonprofits. Pay a 0% introductory APR for the first 12 months since account opening. And then pay 15.24% APR variable. There is no annual fee.
Get automatic discounts from MasterCard Easy Savings program merchant members. You can get 4% cash back from restaurants. And get 2-25% off business services with the MasterCard Easy Savings program.
This card has decent perks via the MasterCard Easy Savings program. But apart from online expense management and EMV chip technology (both of which should be available on all of this provider’s cards), the only reason this card seems to be marketed to nonprofits is because its rewards don’t seem to come in the form of cash.
For Travel Points, we like the Bank of America Business Advantage Travel Rewards Credit Card Platinum + MasterCard. It has a $0 annual fee. Get 30,000 bonus points when you make at least $3,000 in new net purchases that post to your account within the first 90 days. Earn 1.5 points per dollar spent. Get triple points per dollar spent on travel. Pay a 0% introductory APR for the first nine billing cycles, then 24-22.24%. The bonus points offer is generous and the minimum spend is relatively easily attainable.
If your business requires a lot of traveling, this is a good card. Get a $300 statement credit. Pay a 0% introductory APR for the first seven billing cycles. And then pay 10.24-21.24%. This card’s post-introductory APR is good if you have good personal credit. But the statement credit is a lot smaller than most.
Check out the Huntington Bank MasterCard Voice Business Credit Card. Earn 4% cash back on the first $7,000 spent per quarter in one category of your choice. There is a choice of 10 categories. Hence the annual spend limit for 4% cash back is $28,000. Earn 1% cashback on all other purchases.
There is no annual fee and no foreign transaction fee. Pay a 10.99-21.99% APR based on creditworthiness, tied to the Prime Rate. If you know you won’t meet the spend limit, and your credit is already good so the APR is on the lower side, this could be an outstanding card.
Your absolute best small business MasterCard has a basis in your credit history and scores.
Just you can determine which benefits you want and need. So make sure to do your homework.
Finally, as always, make sure to build credit in the established order for the optimum, fastest benefits. Building business credit will help any small business, even a startup! This is because business credit is an actual asset. It adds value to any small business.
Check out how our business credit results will help your company get the best small business MasterCard.