Published By Janet Gershen-Siegel at August 16th, 2018
We can find you a number of business credit cards with no annual fee. Or we can get you any number of other perks and rewards.
According to the SBA, business credit card limits are 10 to 100 times those of personal cards! This shows you can get a lot more cash with corporate credit. And it also means you can have personal credit cards at stores, and now have a second card at the same retail stores for your business. And you will not have to provide collateral, cash flow, or financial information in order to get business credit.
For an update, go to the Latest Business Credit Cards No Annual Fee.
Advantages vary, so be sure to select the perk you prefer from this assortment of alternatives.
For Low APR/Balance Transfers Business Credit Cards, we prefer the Alpine Bank Visa Platinum Rewards. Pay no annual fee. Get one point per dollar spent. And get bonus points: 5,000 for first $3,000 spent in first four billing cycles.
The APR for purchases is Prime + 8.74-14.74%. And pay an APR of 21% for cash advances. Balance transfer APR 10% or 3% of the amount of each transfer, whichever is greater. This is a good card for both APR and the amount you need to spend for a bonus is fairly low.
For cash back rewards, check out the Zions Bank Visa Amazing Cash® Business Credit Card. Get 3% cash back on select business purchases, including office supplies, cell services, internet, telecom, and cable TV. Earn 2% cash back on select business travel purchases, including airlines and vehicle rentals. And get 1% cash back on everything else.
Pay a 0% introductory APR on balance transfers for the twelve months after account opening, then pay a 14.24% variable APR afterwards. And pay a 3% balance transfer fee for each transfer ($10 minimum) applies.
Get a credit limit up to $250,000. There is no annual fee.
No rewards fees. Pay a 0% introductory APR for the first 6 months after account opening, and then a 14.24% variable APR afterwards.
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 have to have a credit score of 690 or higher.
NOTE: the ongoing APR is 23.99% variable APR.
Have a look at the US Bank Business Cash Rewards World Elite™ Mastercard®. Earn 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. And pay a 0% introductory APR for the first 12 billing cycles. After that, pay 13.99-22.99%, per 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.
It’s not $0, but it’s still not a very high yearly fee.
Try the FNBO Business Edition® Secured Visa® Card. With this card, you can, “take control of your credit history and help rebuild your credit”.
Request your own credit limit between $2,000 and $100,000, in multiples of $50. Do so when you apply. Your credit limit is subject to credit approval and a security deposit. Your security deposit is 110% of the amount of your credit limit.
You will earn interest on your security deposit. There is a $39 annual fee. Pay a variable 20.24% APR on purchases and balance transfers based on the Prime Rate.
Get it here: https://www.fnbo.com/small-business/credit-cards/.
For an introductory 0% APR , we like the Bank of Hope Business Rewards Visa® Credit Card
Pay no annual fee. But you will pay a 3% balance transfer fee with a minimum of $5. Earn 5,000 bonus points after spending $1,000 in the first three months.
Earn triple points on gas. Get double points on travel and dining. Earn one point per dollar on all other purchases. Pay a 0% introductory APR for nine months, then variable APR 12.49%, 16.49% or 20.49% per creditworthiness.
It should be easy for most entrepreneurs to meet the minimum spend required for the points bonus. Triple points on gas are particularly helpful if yours is a business requiring a lot of time on the road (say, trucking). If your credit is good enough to get the lowest APR after the introductory period ends, this could be a great card for you.
For Travel Points, we like the PNC Travel Rewards Visa Business Credit Card. Get one mile per dollar in eligible net purchases. But you will get double miles on the first $2,500 in eligible net purchases. Book your own travel and then redeem miles for a statement credit.
There is no foreign transaction fees on purchases outside US. Pay no annual fee. There’s a variable APR, currently 10.99- 19.99%, per creditworthiness.
The APR is good if your credit makes you eligible for the lower end of the spectrum. A statement credit for acting as your own travel agent is good, if you have the time to book your own travel. Double miles are welcome but it’s easy for a business owner to exceed the cap.
Get it here:
For good cash back terms, 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. Pay no foreign transaction fee. 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.
For rewards, check out the Union Bank Business Preferred Rewards Visa Credit Card. Get 50,000 introductory reward points bonus when you spend $5,000 in the first three months. You can get quintuple points per dollar spent to $25,000 annually on select business expenses (office supplies, utility bills, telecom services), and one point per dollar spent above that. And get double points for each dollar spent up to $25,000 annually on gas stations and restaurants and one point per dollar spent above that. Get one point per dollar spent on everything else.
Pay a 0% introductory APR for the first six months, then a 11.99-20.99% variable APR. There is no annual fee. This card has a great introductory points offer and the amount you have to spend to get it isn’t bad.
Your absolute best small business credit cards with no annual fee are based upon your credit history and scores. Just you can figure out which features you want and need. You and your business are unique. So always be sure to do your research.
And, as always, make sure to build credit in the right order for the highest, fastest benefits. Check out how this will help your company get business credit cards with no annual fee.