Published By Janet Gershen-Siegel at March 20th, 2019
We researched a number of business credit cards. We did the research for you. So here are our favorites. Get a secured business credit card and build credit – and stop worrying about funding!
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 business credit. And it also means you can have personal charge cards at stores. So you would now have a second card at the same retail stores for your company.
And you won’t have to put up collateral, cash flow, or financial information in order to get small business credit.
Perks vary. So make sure to pick the perk you prefer from this selection of choices.
For a 0% APR time period, we like the Ink Business Cash ℠ Credit Card. Also, you pay no yearly cost. It’s got an interest-free period. It has flexible cash-back rewards. There are spending limits for employees. But you will need to have 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. So it has an introductory 0% APR for 15 Months. Also, you can earn twice the points on daily business purchases up to an annual limit. But the standard APR is 12.24% – 20.24%. So this APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
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 need to have a credit score of 690 or better.
But BEAR IN MIND: the ongoing 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 it is within your first three months. Terms and limitations apply.
In addition 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 straight 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 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 the majority of purchases.
Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualified purchases. But this is up to one million more points each year. Get five points per dollar. But this is for spending 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. But this is after you spend $5,000 on purchases. And it is in the initial three months from account opening.
Get three points per 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, get one point for each dollar on all of the other purchases. There is no limitation to the amount you can earn.
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 fee.
After that, the purchase APR is a variable 10.49% – 18.49%. And this is dependent on creditworthiness. There is no yearly fee. But this card is solely on offer to those with great or exceptional 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 yearly fee.
Right now corporations can get double points. But this is on the first $50,000 in purchases per year.
Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to obtain a credit limit of $500 – $25,000. The amount offered equals the amount of money you offer 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 will be.
This card lets small business owners with poor personal credit to acquire a card to make purchases and build business credit.
But the card will just report to the personal credit bureaus if you default or are late on payments.
Take a look at the SimplyCash Plus Business Credit Card from American Express. So you can earn up to $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 annual spending.
You also get 3% cash back on the spending category of your choice. So this is from eight different categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of annual 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 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 exceptional credit.
But you can only redeem your cash back in $25 increments.
In addition, 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 any restrictions.
New cardholders can also get a $200 cash bonus. But that is once 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.
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 remaining categories.
Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your yearly fee climbs to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. So you can get up to 75,000 Membership Rewards points upon account opening.
Also earn 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 added $10,000 all on eligible purchases. But this is during first three months.
Additionally you can get five times the Membership Rewards points. So this is on airline flights and prepaid hotels on amextravel.com. But it has a $450 yearly fee. Yikes!
A terrific secured business credit card for you has a basis in your credit history and scores. Just you can decide which perks you want and need. So make sure to do your homework.
And, as always, make sure to build credit in the prescribed order for the optimum, fastest benefits.
How to Improve Your Fundability™ and Get More Money for Your Business Faster