Published By Janet Gershen-Siegel at January 25, 2018
The Best Small Business with Bad Credit Cards can be yours. We break down what’s what and give you a myriad of options. Choose what’s best for you!
According to the SBA, company credit card limits are 10 – 100 times that of personal cards! This shows you can get a lot more cash with business credit. And this also means you can have personal charge cards at shops, and now have an additional card at the same stores for your business. And you won’t have to provide collateral, cash flow, or financials in order to get small business credit.
Benefits vary, so make sure to select the benefit you prefer from this selection of choices.
. For a 0% APR time frame, we prefer the Ink Business Cash ℠ Credit Card. You pay no yearly cost. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. You will have to have a credit score of 690 or better. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For an introductory 0% APR time period, we also like the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on ordinary company expenses up to an 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. You will need a credit score of 690 or higher. TAKE 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 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 during your very first three months. Terms and limitations apply. In addition earn a $50 statement credit after you make a Delta purchase with your new card during your first 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile on each eligible 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:
– Priority Pass Select
– Delta SkyClubs
– American Express Centurion Lounges
You also get Gold Status when you sign up for the Starwood Preferred Guest program.
$ 200 annual air travel fee credit. There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. You get one point for every dollar spent on most purchases. You get 1.5 times the points on charges of $5,000 or more on qualifying purchases, up to one million more points yearly. You get five points per dollar spent buying flights and prepaid hotels from the American Express Travel 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 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 each account anniversary year. Earn one point per dollar on all other purchases. There is no restriction to the amount you can earn. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-business-preferred
For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. You begin with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer cost. Afterwards, the purchase APR is a variable 10.49% – 18.49%, which is dependent on creditworthiness. There is no yearly fee. This card is just available to people with great or exceptional credit. However, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Also, check out 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 on the initial $50,000 in purchases each year. Get it here: https://creditcard.americanexpress.com/blue/
Have a look at the Wells Fargo Business Secured Credit Card. It enables cardholders to procure a credit limit of $500 – $25,000. The amount offered is identical to the amount of funding you offer to secure the line. Your purchase APR rate can be as low as a variable 13.15%. The annual fee is $25. The more cards you have the higher your yearly fee is going to be. This card allows 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 behind on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Take a look at the SimplyCash Plus Business Credit Card from American Express. You can earn up to $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 first $50,000 of yearly spending). You also get 3% cash back on spending category of your choice, from eight distinct categories, which include airfare, gas, advertising and computer purchases (applies to first $50,000 of annual 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, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can earn a $200 statement credit after $500 in purchases during 60 days of account opening. You also get 3% cash back on purchases at gas 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 annual 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/
In addition, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without limits. 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 introductory 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/
Take 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 other categories, and one point per dollar on all other purchases. It has a $0 yearly fee for the first year, but then your yearly fee rises 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 at the time of account opening. You can also earn 50,000 Membership Rewards points after spending $10,000 and an extra 25,000 points after spending an additional $10,000 all on eligible purchases during the first three months. Plus you can get five times the Membership Rewards points on flights and pre-paid hotels on amextravel.com. But keep in mind, it has a $450 annual fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Your very best company credit cards depend on your credit history and scores. Just you can choose which perks you want and need, so make sure to do your homework. And, as always, make sure to build credit in the prescribed order for the best, fastest benefits.