Published By Janet Gershen-Siegel at August 16, 2018
Written by Janet Gershen-Siegel
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.
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 U.S. Bank Business Edge Platinum. You start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer cost. Thereafter, the purchase APR is a variable 10.49% to 18.49%. This depends on creditworthiness.
There is no annual fee. This card is just on offer to those with great or exceptional credit. However, there is no rewards program for purchases.
Also, check out 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 businesses can get double points on the first $50,000 in purchases every year.
Get it here: https://creditcard.americanexpress.com/blue/
Be sure to 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 within 60 days of account opening. You also get 3% cash back on purchases at filling stations and office supply stores. So this is as much as $250,000 yearly.
And you get 2% cash back on purchases at restaurants, and 1% cash back on all purchases. There is no annual fee. It is available to applicants with exceptional credit. Your cash back can only be redeemed in $25 increments.
Furthermore, consider 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 once they spend $3,000 on new purchases during the first three months of account opening.
New customers also get initial APR of 0% on purchases for nine months. There is no annual fee.
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 Business Gold Rewards Card from American Express OPEN. You can earn 50,000 Membership Rewards points after $5,000 in purchases on the card within first three months. You get three points on your choice of five categories. Also, you get two times the points on the other categories. You also get one point per dollar on all other purchases.
It has a $0 annual fee for the first year, and after that your annual fee goes up to $175. Choose wisely.
It’s not $0, but it’s still not a very high yearly fee.
Take a look at the Wells Fargo Business Secured Credit Card. It allows cardholders to procure a credit limit of $500 to $25,000. The amount available is the same as the amount of funding you supply 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, then the higher your annual fee is going to be. This card allows small business owners with poor personal credit to get a card to make purchases and set up business credit. But the card will only report to the personal credit agencies if you default or are overdue on payments.
Although you may be looking for business credit cards with no annual fee, sometimes other kinds of cards are better. So here are some other choices. Only you can decide if one perk is better than another for your individual needs. A lower annual percentage rate might be a better choice, if ever you have trouble making 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 time period. It has versatile cash-back rewards. There are spending limits for your employees. However, you will need a credit score of 690 or better.
For an introductory 0% APR period, we also go for 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 regular business purchases up to an annual limit. But the standard APR is 12.24% to 20.24% (variable).
Get it here: https://creditcard.americanexpress.com/blue/
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 card in your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile per qualified dollar spent on purchases.
Be sure to check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
You will also receive 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 per dollar spent on most purchases. Also, you get 1.5 times the points on charges of $5,000 or more on qualified purchases. However, this is up to one million more points annually. Get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel site.
Also, be sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points after you spend $5,000 on purchases within the initial 3 months from account opening.
Earn three points for each dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, and internet. Also earn three points per dollar for payments for cable and phone. And even earn three points to the dollar for advertising purchases made with social media sites and search engines. All are within that $150,000 cap. However, this is for each account anniversary year.
Also, get one point per dollar on all of the other purchases. There is no limit to the amount you can earn.
Look at the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Earn a $200 statement credit after spending $5,000. Also, get 5% cash back at US office supply stores and on wireless phone services purchased from US service providers. However, this applies to the first $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. However, it applies to the first $50,000 of yearly spending.
And also you get 1% cash back on all other purchases.
Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn up to 75,000 Membership Rewards points upon account opening.
Also get 50,000 Membership Rewards points after you spend $10,000. In addition, get 25,000 more points after spending an added $10,000 all on qualifying purchases during first three months.
And also you can get five times the Membership Rewards points on flights and prepaid hotels on amextravel.com. However, it has a $450 yearly fee.
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.