Published By Janet Gershen-Siegel at November 26th, 2018
Are you hunting for low APR business credit cards? We did the digging so you won’t have to. o here are our favorites.
According to the SBA, small business credit card limits are a whopping 10 – 100 times those of personal cards!
This shows you can get a lot more money with corporate credit. And it also means you can have personal credit cards at retail stores. So you would now have a second card at the same stores for your business.
And you will not have to have collateral, cash flow, or financials to get small business credit.
Perks vary. So be sure to select the benefit you prefer from this array of possibilities.
For a 0% APR time frame, we like the Ink Business Cash ℠ Credit Card. Also, you pay no annual cost. It’s got an interest-free period. It has versatile cash-back rewards. There are spending limits for employees. But you will have to have a credit score of 690 or higher.
For an introductory 0% APR time 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 double points on everyday business expenses up to annual limit. But the normal 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 like the U.S. Bank Business Edge Platinum. So you start off with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.
Afterwards, the purchase APR is a variable 10.49% – 18.49%. And this depends upon creditworthiness. There is no yearly fee. But this card is just available to those with great or superb credit. But there is no rewards program for purchases.
Also, investigate the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no annual fee.
Right now companies can earn double points. But this is on the first $50,000 in purchases yearly.
Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to get a credit limit of $500 – $25,000. The amount offered equates to the amount of cash you provide 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 more expensive your annual fee is going to be.
This card lets company owners with bad personal credit to get a card to make purchases and create business credit.
But the card will just report to the personal credit bureaus if you default or are late on payments.
Check out the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get 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 first $50,000 of annual spending.
You also get 3% cash back on spending category of your choice. So this is from eight separate categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending.
In addition you get 1% cash back on all other purchases.
Also, check out 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 during 60 days of account opening.
You also get 3% cash back on purchases at gas stations and office supply stores. But this is as much as $250,000 yearly.
Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with excellent credit.
But you can only redeem your cash back in $25 increments.
In addition, check out the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without any restrictions.
New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is within three months of account opening.
New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no annual fee.
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 three months. Earn two miles per dollar spent on purchases made directly 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 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 for every 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 eligible purchases. But this is up to one million added points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel web site.
Also, make sure to have a look at the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is after you spend $5,000 on purchases. And it is within the first 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, earn one point for each dollar on all other purchases. There is no limitation to the amount you can earn.
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 have to have a credit score of 690 or better.
But BEAR IN MIND: the standard APR is 23.99% variable APR.
Consider 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 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 yearly fee goes up to $175.
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. But this is after spending $10,000.
In addition, get 25,000 more points. But that is after spending an additional $10,000 all on qualified purchases. But this is within the initial 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!
Your perfect low APR business credit cards hinge upon your credit history and scores.
Only you can make a decision on which advantages 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 certain to build credit in the prescribed order for the most remarkable, fastest benefits.