Published By Janet Gershen-Siegel at May 4th, 2018
We looked at a lot of corporate credit cards, and did the research for you. So here are our picks.
Per the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!
This demonstrates you can get a lot more cash with small business credit. And it also shows you can have personal credit cards at retail stores. So you would now have an added card at the same shops for your business.
And you will not need collateral, cash flow, or financials in order to get business credit.
Perks vary. So, make sure to select the benefit you prefer from this selection of options.
These corporate credit cards have no annual fee. They come with a 0% introductory APR on purchases for the first nine months. After that, the card has a 13.24 – 23.24% variable APR
Earn 3 points/dollar spent when you book travel through the Bank of America Travel Center. And get one and a half points/dollar on all other purchases. You can earn unlimited points and points never expire.
There is a 25,000-point sign-up bonus when you spend $1,000 within the initial 60 days of starting the account. Cardholders get travel accident insurance, and lost luggage reimbursement. They additionally get trip cancellation coverage, trip delay reimbursement and other benefits.
There is no introductory rate for balance transfers. Also, bonus categories are limited.
Take a look at the JetBlue Plus Card for another offer of a 0% introductory APR
Earn six points/dollar on JetBlue purchases, two points/dollar at restaurants and grocery stores. And get one point/dollar on all other purchases.
Spend $1,000 in the initial 90 days and pay the annual fee, and get 40,000 bonus points. New cardholders receive a 12 month, 0% initial APR on balance transfers made within forty-five days of account opening.
Thereafter, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based upon creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.
There is a $99 annual fee for this card.
Get it here: https://cards.barclaycardus.com/cards/jetblue-card/
This card earns cash back with every purchase. Earn 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Get 3% cash back at restaurants and on eligible travel purchases. Also, earn 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.
Note: the $0 yearly fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.
Also, there is no sign-up bonus offered with this card.
For average credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is an annual fee of $0.
With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage, and travel and emergency assistance services.
But REMEMBER: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.
Check out these corporate credit cards. Get hotel rewards worldwide. For each dollar spent at participating IHG hotels, get 10 points. Earn two points per dollar spent at gas stations, grocery stores and restaurants.
And all other purchases earn one point. New cardholders can get an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.
This card provides a free one-night hotel stay per year. Plus there is a wide array of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.
The most significant issue is that the card does not have a zero percent APR introductory rate. The standard APR is 17.99 – 24.99% variable. And the annual fee is $89.
Have a look at the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.
After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.
You can get 5% cash back at different places each quarter. So, these are places like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Plus, automatically earn unlimited 1% cash back on all other purchases.
You will earn an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year, automatically.
Make sure to have a look at the Discover it® Student Cash Back card. It has no annual fee. The credit card also has a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.
One one-of-a-kind feature is that it offers an incentive for scholars to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or higher each school year, they get a $20 statement credit each year for up to five years.
Use this card to build personal credit. While this is a personal credit card versus a business card, for new credit users, their FICO scores will matter. And this credit card provides an outstanding way to raise FICO while also getting rewards.
You can earn 5% cash back at different places each quarter such as grocery stores, gas stations, restaurants or Amazon.com. This is up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.
In the initial year, all cash back rewards are matched 100%.
Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance. It is whichever is more. Though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.
Take a look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can earn. Also, the card has a $0 annual fee.
New cardholders have a 0% APR on purchases and balance transfers for the first fifteen months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that.
A cash bonus of $150 is on offer. But it is for those who make at least $500 in purchases in 3 months of account opening.
Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.
This card also offers travel accident insurance, and an auto rental collision damage waiver. There are no foreign transaction fees, and there is extended warranty coverage.
Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first fifteen months.
Get it here: https://www.capitalone.com/credit-cards/quicksilver/
Have a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per credit card (up to 10 employee cards). It also requires a minimum security deposit of $500. So this is up to $25,000. And it is meant to help cardholders develop or rebuild their credit.
Choose these corporate credit cards if you want to get 1.5% per dollar in purchases with no limits. Or you can earn one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.
Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time.
Approval is not guaranteed and depends on factors including how you manage this and your other accounts.
APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a credit card for balance transfers.
Have a look at the Chase Sapphire Preferred® Card for travel points.
You can earn two points to the dollar spent on travel and dining at restaurants. And you can earn one point per dollar on all other purchases. Points can be redeemed for cash back, gift cards, or travel.
The card’s benefits include trip cancellation insurance, travel and emergency assistance services. They also include an auto rental collision damage waiver, purchase protection and extended warranty protection.
When you spend $4,000 in the initial 3 months from account opening, you will earn 50,000 bonus points. These points are worth $625 if you redeem them for travel through Chase Ultimate Rewards.
You can get an unlimited two points per dollar for travel and dining at restaurants. And then earn one point per dollar for all other purchases. Points will transfer equally to 13 leading frequent travel programs with partners. So these include British Airways, Southwest Airlines, United, and Marriott.
There is no 0% introductory APR on purchases or balance transfers. The card’s standard APR is 17.74 – 24.74% variable. Also, the card has an annual fee of $0 introductory for the first year. And then it skyrockets to $95.
Your absolute best corporate credit cards hinge on your credit history and scores.
Only you can choose which features you want and need. So make sure to do your homework. What is outstanding for you could be catastrophic for someone else.
And, as always, make sure to establish credit in the recommended order for the best, fastest benefits.