Published By Janet Gershen-Siegel at November 7th, 2018
Do you know the top 10 small business credit cards? We did the research for you. So here are our favorites.
Per the SBA, company credit card limits are a whopping 10 – 100 times that of personal cards!
This shows you can get a lot more cash with corporate credit. And it also means you can have personal credit cards at shops. So you would now have an additional card at the same stores for your business.
And you won’t have to put up collateral, cash flow, or financials to get business credit.
Features vary. So make certain to pick the perk you prefer from this collection of possibilities.
For a 0% APR period, this card is great. You pay no yearly fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. However, you will need a credit score of 690 or higher.
With this card, you can get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is within your first three months from account opening.
Earn 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, earn one point for each dollar on all of the other purchases. There is no restriction to the amount you can earn.
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 first $50,000 of yearly spending.
You also get 3% cash back on spending category of your choice. So this is from eight distinct categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending.
Plus you get 1% cash back on all other purchases.
If you want Delta SkyMiles, then this card is for you. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is during 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 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Also, earn one mile per qualified dollar spent on purchases.
With this card, you get 1.5% cash back on all purchases. So this is with no 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.
This card 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 day-to-day company expenses up to a yearly cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.
Right now corporations can earn double points. But this is on the initial $50,000 in purchases each year.
Get it here: https://creditcard.americanexpress.com/blue/
With this card, you can get a $200 statement credit. But this is after $500 in purchases. And that is within 60 days of account opening.
You also get 3% cash back on purchases at filling stations and office supply stores. But this is as much as $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 yearly fee. But it is available to applicants with excellent credit.
But you can only redeem your cash back in $25 increments.
This card allows cardholders to secure a credit limit of $500 – $25,000. The amount available corresponds to the amount of funding you supply 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 more expensive your annual fee will be.
This card lets company owners with bad personal credit to get a card to make purchases and build business credit.
But the card will only report to the personal credit bureaus if you default or are late on payments.
For Low APR/Balance Transfers Business Credit Cards, this card is king. So you start 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 people with great or superb credit. But there is no rewards program for purchases.
Check out the Business Platinum Card from American Express. It is a fantastic option for travel benefits!
Travel benefits including access to these airport lounge networks:
You also receive Gold Status when you register 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 per 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 qualifying purchases. But this is up to one million additional points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel website.
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 need a credit score of 690 or higher.
But BEAR IN MIND: the ongoing APR is 23.99% variable APR.
Take a look at 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 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 yearly fee for the first year. But then your yearly fee rises to $175.
Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn as much as 75,000 Membership Rewards points upon 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 eligible purchases. But this is during 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!
The top 10 small business credit cards for you will depend on your credit history and scores.
Only you can decide which rewards you want and need, so make sure to do your research.
And, as always, make sure to build credit in the established order for the best, fastest benefits.
Learn more here and get started toward getting the top 10 small business credit cards.
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