Published By Janet Gershen-Siegel at October 18th, 2018
According to the SBA, business 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 credit cards at shops. Also, you would now have an alternate card at the same shops for your small business.
And you will not need collateral, cash flow, or financial information in order to get small business credit.
Features vary. So make certain to select the benefit you prefer from this selection of alternatives.
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. You pay no yearly fee.
And it’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for your employees. But you will have to have a credit score of 690 or better.
Blue Business ℠ Plus Credit Card from American Express
For an introductory 0% APR 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 day-to-day company purchases. But this is up to an annual limit. The normal APR is 12.24% – 20.24%. So the APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
For Fair Credit, we like the Capital One Spark Classic for Business. So it has no annual fee. There are cash-back rewards.
But you will have to have a credit score of 690 or better. TAKE NOTE: the standard APR is 23.99% variable APR.
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 this is within your first three months. Terms and limitations apply.
In addition earn a $50 statement credit after you make a Delta purchase with your new card. But this is during your first three months.
Earn two miles per dollar spent on purchases made directly with Delta. And earn one mile on each qualifying dollar spent on purchases.
Business Platinum Card from American Express
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. And you also receive a $200 annual air travel fee credit.
There is a $100 credit towards the Global Entry application fee. So this includes access to TSA PreCheck program.
Also, 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 eligible purchases. So this is up to one million more points each year. And you get 5 points per dollar spent. So this is on purchasing flights and prepaid hotels from the American Express Travel website.
Ink Business Preferred Card from Chase
Also, make sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is in the first three months from account opening.
Earn three points per dollar. But it is on the first $150,000 spent. And it is 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 each account anniversary year.
Earn one point for each dollar on all other purchases. So there is no cap to the amount you can earn.
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. So this is on new purchases and balance transfers. But there is a 3% balance transfer cost.
Afterwards, the purchase APR is a variable 10.49% – 18.49%. So this depends on creditworthiness. And there is no annual fee.
But this card is only on offer to people with great or outstanding credit. And there is no rewards program for purchases.
Blue Business Plus Credit Card from American Express
Also, check out the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. And there is no annual fee. Right now companies can get double points on the first $50,000 in purchases every year.
Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to get a credit limit of $500 – $25,000. The amount on offer is the same as the amount of cash you provide to secure the line.
So 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 allows business owners with bad personal credit to get a card to make purchases and establish business credit. But the card will only report to the personal credit agencies if you default or are late on payments.
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 straight from US service providers. So this applies to the first $50,000 of yearly spending.
You also get 3% cash back on the spending category of your choice. So this is from eight separate categories. And they consist of airfare, gas, advertising and computer purchases. But it applies to first $50,000 of yearly spending.
Additionally you get 1% cash back on all other purchases.
Bank of America Business Advantage Cash Rewards MasterCard Credit Card
Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can get a $200 statement credit after $500 in purchases. But this is within 60 days of account opening.
You also get 3% cash back on purchases at gasoline stations and office supply stores. So this is up to $250,000 annually. And you get 2% cash back on purchases at restaurants. Also get 1% cash back on all purchases.
There is no annual fee. But it is on offer to applicants with excellent credit. Also, you can only redeem your cash back in $25 increments.
Spark Cash Select from Capital One
Additionally, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without restrictions.
New cardholders can also get a $200 cash bonus. So this is as soon as they spend $3,000 on new purchases. But this is within three months of account opening.
New customers also get introductory APR of 0% on purchases for nine months. Also, there is no annual fee.
Take a look at the Business Gold Rewards Card from American Express OPEN. You can get 50,000 Membership Rewards points after $5,000 in purchases on the card. But this is during first three months.
You get three points on your choice of 5 categories. And get two times the points on the other categories. Also, get one point per dollar on all other purchases. It has a $0 annual fee for the first year. But then your annual fee goes up to $175.
Your Best Business Credit Cards
Your very best small business credit cards are based on your credit history and scores. Only you can determine which features you want and need. So make sure to do your research.
And, as always, make certain to build credit in the prescribed order for the max, fastest benefits. Check out how this will help your company and go beyond our comparison of business credit cards.