Published By Janet Gershen-Siegel at December 17th, 2018
We examined a considerable number of business credit cards. We did the research for you. So here are our favorites. We found terrific business credit cards for no credit history.
And we found a bunch which will be great once you’ve built some credit, too!
Per the SBA, small business credit card limits are a whopping 10 – 100 times that of personal cards!
This means you can get a lot more money with corporate credit. And this also means you can have personal charge cards at stores. So you would now have an alternate card at the same shops for your small business.
And you won’t need collateral, cash flow, or financials to get corporate credit.
Perks vary, so make sure to choose the perk you prefer from this assortment of choices. But with no credit history, it makes sense to start with a credit builder.
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount available is the same as the amount of funding you offer 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 higher your yearly fee will be.
This card lets business owners with poor personal credit to acquire a card to make purchases and develop business credit.
But the card will just report to the personal credit bureaus if you default or are overdue on payments.
For a 0% APR time frame, we like the Ink Business Cash ℠ Credit Card. Also, you pay no yearly fee. It’s got an interest-free period. It has flexible cash-back rewards. There are spending limits for your employees. But you will need to have a credit score of 690 or higher.
For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn twice the points on everyday company expenses up to a yearly cap. But the standard APR is 12.24% – 20.24%. So this APR is 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. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.
After that, the purchase APR is a variable 10.49% – 18.49%. And this depends on creditworthiness. There is no yearly fee. But this card is solely on offer to people with great or superb credit. But there is no rewards program for purchases.
Also, have 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 small businesses can earn double points. But this is on the first $50,000 in purchases every year.
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. But you will need a credit score of 690 or better.
But TAKE NOTE: the ongoing APR is 23.99% variable APR.
Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Earn 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 initial $50,000 of yearly spending.
You also get 3% cash back on spending category of your choice. So this is from eight different categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending.
Plus you get 1% cash back on all other purchases.
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. But this is after $500 in purchases . And that is within 60 days of account opening.
You also get 3% cash back on purchases at gas stations and office supply stores. But this is up to $250,000 annually.
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 available to applicants with exceptional credit.
But you can only redeem your cash back in $25 increments.
Furthermore, consider the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without limits.
New cardholders can also get a $200 cash bonus. But that is once they spend $3,000 on new purchases. So this is during the first three months of account opening.
New customers also get introductory APR of 0% on purchases. But that is for nine months. Also, there is no annual fee.
Have a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 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 five 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 annual fee for the first year. But then afterwards your annual fee climbs to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. So you can earn as many as 75,000 Membership Rewards points at the time of account opening.
Also get 50,000 Membership Rewards points. But this is subsequent to spending $10,000.
In addition, get 25,000 more points. But that is after spending an added $10,000 all on eligible purchases. But this is during first three months.
And also you can get five times the Membership Rewards points. So this is on flights and pre-paid hotels on amextravel.com. But it has a $450 yearly fee. Yikes!
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.
Also 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.
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
You also receive Gold Status when you enroll in 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 per dollar spent on most purchases.
Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualified purchases. But this is up to one million more points yearly. Get five points per dollar. But this is for spending flights and prepaid hotels from the American Express Travel website.
Also, be sure to check out the Ink Business Preferred Card from Chase. Earn 80,000 bonus points. But this is after you spend $5,000 on purchases. And it is within your initial three months from account opening.
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 for each dollar on all other purchases. There is no restriction to the amount you can earn.
Your truly terrific business credit cards for no credit history will be limited. So build credit and get more options.
Just you can make a decision on which rewards you want and need. So be sure to do your due diligence. What is excellent for you could be disastrous for someone else.
And, as always, make sure to build credit in the recommended order for the most remarkable, fastest benefits.