WANT TO IMPROVE YOUR BUSINESS CREDIT & FUNDABILITY?
Subscribe to Our
Weekly Email Newsletter to Get Actionable Credit Building & Financing Info
We Respect Your Privacy
Published By Janet Gershen-Siegel at November 21st, 2018
You asked: Where can I get a low rate business credit card? We took care of all of the research for you. So here are our favorites.
Per the SBA, small business credit card limits are a whopping 10 – 100 times those of personal cards!
This means you can get a lot more money with company credit. And this also means you can have personal credit cards at shops. So you would now have an alternate card at the same shops for your small business.
And you won’t have to have collateral, cash flow, or financials in order to get company credit.
Benefits vary, so make certain to pick the perk you prefer from this range of alternatives.
For a 0% APR time frame, we prefer 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 better.
For an introductory 0% APR period, we also like 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 routine company purchases up to annual cap. But the regular 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 prefer the U.S. Bank Business Edge Platinum. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer cost.
Afterwards, the purchase APR is a variable 10.49% – 18.49%. And this depends on creditworthiness. There is no annual fee. But this card is just available to those with great or exceptional credit. But there is no rewards program for purchases.
Also, take a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no yearly fee.
Right now small businesses can earn double points. But this is on the initial $50,000 in purchases every year.
Get it here: https://creditcard.americanexpress.com/blue/
For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will have to have a credit score of 690 or better.
But KEEP IN MIND: the standard APR is 23.99% variable APR.
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to obtain a credit limit of $500 – $25,000. The amount offered equates to the amount of money you furnish to secure the line.
Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the higher your yearly fee is going to be.
This card lets business owners with poor personal credit to acquire 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.
Consider 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 first $50,000 of yearly spending.
You also get 3% cash back on spending category of your choice. So this is from eight varying categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending.
Additionally you get 1% cash back on all other purchases.
Also, take a look at 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 gasoline stations and office supply stores. But this is up to $250,000 annually.
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 on offer to applicants with excellent credit.
But you can only redeem your cash back in $25 increments.
Furthermore, have a look at the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without limitations.
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 introductory 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 during your very 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 3 months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile per eligible 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 enroll in 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 qualifying purchases. But this is up to one million more points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel website.
Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Also, be sure to check out the Ink Business Preferred Card from Chase. Earn 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is within your first 3 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 of the other purchases. There is no limitation to the amount you can earn.
Check out the Business Gold Rewards Card from American Express OPEN. So you can get 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card within 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 annual fee goes up to $175.
Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn as many as 75,000 Membership Rewards points at the time of account opening.
Also get 50,000 Membership Rewards points. But this is subsequent to 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.
Also you can get five times the Membership Rewards points. So this is on flights and prepaid hotels on amextravel.com. But it has a $450 yearly fee. Yikes!
Your very best low rate business credit card will depend on your credit history and scores.
Only you can determine which perks you want and need. So make 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 established order for the most brilliant, fastest benefits.