Published By Janet Gershen-Siegel at January 18th, 2021
Are you using credit cards to fund your business? No? Then what are you waiting for? We researched a ton of company credit cards for you. So, here are our favorites.
Per the SBA, company credit card limits are a whopping 10 – 100 times that of consumer cards!
This reveals you can get a lot more cash with small business credit. And it also shows you can have personal credit cards at stores. So, you would now have an added card at the same retail stores for your business.
And you will not need collateral, cash flow, or financials to get company credit.
Benefits vary. So, make certain to select the benefit you prefer from this choice of alternatives.
Take a look at the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the first year. Afterwards, the APR is a variable 14.74 – 20.74%.
Get double Membership Rewards® points on day to day business purchases like office supplies or client dinners for the initial $50,000 spent each year. Get 1 point per dollar afterwards.
You will need great to excellent credit to qualify.
Also check out the American Express® Blue Business Cash Card. Keep in mind: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. But its rewards are in cash instead of points.
Get 2% cash back on all eligible purchases on up to $50,000 per calendar year. Then get 1%.
It has no annual fee. There is a 0% introductory APR for the first one year. After that, the APR is a variable 14.74 – 20.74%.
You will need good to exceptional credit to qualify.
Check out the Plum Card® from American Express. It has an initial yearly fee of $0 for the first year. Afterwards, pay $250 annually.
Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.
You will need excellent to outstanding credit to qualify.
Have a look at the Capital One® Spark® Classic for Business. It has no annual fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can earn unlimited 1% cash back on every purchase for your company, with no minimum to redeem.
While this card is within reach if you have average credit scores, beware of the APR. But if you can pay on time, and in full, then it’s a good deal.
Using Credit Cards to Fund Your Business for Luxurious Travel Points
Have a look at the Capital One® Spark® Miles for Business. It has an introductory annual fee of $0 for the first year, which then rises to $95. The regular APR is 18.49%, variable due to the prime rate. There is no introductory annual percentage rate. Pay no transfer fees. Late fees go up to $39.
This card is great for travel if your expenditures don’t fall into conventional bonus categories. You can get unlimited double miles on all purchases, without limits. Earn quintuple miles on rental cars and hotels if you book via Capital One Travel.
Get an initial bonus of 50,000 miles. That’s the same as $500 in travel. But you just get it if you spend $4,500 in the initial 3 months from account opening. There is no foreign transaction fee. You will need a great to outstanding FICO rating to qualify.
For an excellent sign-up offer and bonus categories, take a look at the Ink Business Preferred℠ Credit Card.
Pay an annual fee of $95. Regular APR is 17.49 – 22.49%, variable. There is no introductory APR offer.
Get 100,000 bonus points after spending $15,000 in the first three months after account opening. This works out to $1,250 towards travel rewards if you redeem with Chase Ultimate Rewards.
Get three points per dollar of the first $150,000 you spend with this card. So this is for purchases on travel, shipping, internet, cable, and phone services. Plus it includes advertising purchases made with social media sites and search engines each account anniversary year.
You can get 25% more in travel redemption when you redeem for travel using Chase Ultimate Rewards. You will need a great to exceptional FICO score to qualify.
For no yearly fee while still getting travel rewards, have a look at this card from Bank of America. It has no yearly fee and a 0% introductory APR for purchases during the first nine billing cycles. After that, its regular APR is 13.74 – 23.74% variable.
You can get 30,000 bonus points when you make at least $3,000 in net purchases. So this is within 90 days of your account opening. You can redeem these points for a $300 statement credit towards travel purchases.
Earn unlimited 1.5 points for every $1 you spend on all purchases, everywhere, every time. And this is despite how much you spend.
Likewise earn 3 points per every dollar spent when you book your travel (car, hotel, airline) through the Bank of America® Travel Center. There is no limit to the number of points you can get and points do not expire.
You will need exceptional credit scores to get this one (as in, 700s or better).
Have a look at the Marriott Bonvoy Business™ Card from American Express. It has a yearly fee of $125. There is no introductory APR offer. The regular APR is a variable 17.24 – 26.24%. You will need good to outstanding credit to get this card.
You can earn 75,000 Marriott Bonvoy points after using your card to make purchases of $3,000 in the initial three months. Get 6x the points for qualified purchases at participating Marriott Bonvoy hotels. You can get 4x the points at US restaurants and filling stations. And you can get 4x the points on wireless telephone services purchased directly from American service providers and on American purchases for shipping.
Get double points on all other qualified purchases.
Plus, you get a free night each year after your card anniversary. And you can earn an additional free night after you spend $60,000 on your card in a calendar year.
You get Marriott Bonvoy Silver Elite status with your Card. Plus, spend $35,000 on eligible purchases in a calendar year and get an upgrade to Marriott Bonvoy Gold Elite status through the end of the next calendar year.
Plus, each calendar year you can get credit for 15 nights towards the next level of Marriott Bonvoy Elite status.
Have a look at the Ink Business Unlimited℠ Credit Card. Beyond no annual fee, get an introductory 0% APR for the initial twelve months. After that, the APR is a variable 14.74 – 20.74%.
You can earn unlimited 1.5% Cash Back rewards on every purchase made for your business. And get $500 bonus cash back after spending $3,000 in the first 3 months from account opening. You can redeem your rewards for cash back, gift cards, travel and more using Chase Ultimate Rewards®. You will need superb credit scores to qualify for this card.
Look into the Brex Card for Startups. It has no yearly fee.
You will not need to supply your Social Security number to apply. And you will not need to supply a personal guarantee. They will take your EIN.
However, they do not accept every industry.
Additionally, there are some industries they will not work with, and others where they want added documentation. For a list, go here: https://brex.com/legal/prohibited_activities/.
To determine creditworthiness, Brex checks a company’s cash balance, spending patterns, and investors.
You can get 7x points on rideshare. Get 4x on Brex Travel. Also, get triple points on restaurants. And get double points on recurring software payments. Get 1x points on everything else.
You can have poor credit scores (even a 300 FICO) to qualify.
Find it here: https://brex.com/lp/startups-higher-limits/
Using Credit Cards to Fund Your Business and Get Cash Back
Check out the Capital One® Spark® Cash for Business. It has an introductory $0 yearly fee for the first year. After that, this card costs $95 each year. There is no introductory APR offer. The regular APR is a variable 18.49%.
You can get a $500 one-time cash bonus after spending $4,000 in the first 3 months from account opening. Get unlimited 2% cash back. Redeem at any time with no minimums.
You will need great to exceptional credit to qualify.
Have a look at the Discover it® Business Card. It has no yearly fee. There is an introductory APR of 0% on purchases for year. Then the regular APR is a variable 14.49 – 22.49%.
Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimal spend requirement.
You can download transactions| easily to Quicken, QuickBooks, and Excel. Note: you will need great to excellent credit to qualify for this card.
Take a look at the Ink Business Cash℠ Credit Card. It has no annual fee. There is a 0% introductory APR for the initial 12 months. After that, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the first 3 months from account opening.
You can get 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on net, cable, and phone services each account anniversary year.
Get 2% cash back on the initial $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. There is no limitation to the amount you can get.
You will need outstanding credit scores to receive this card.
Take a look at the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no annual fee. You can get a $300 statement credit offer.
Get 3% cash back in the category of your choice. So these are gasoline stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Earn 2% cash back on dining. So this is for the first $50,000 in combined choice category/dining purchases each calendar year. After that earn 1% after, with no limits.
You will need exceptional credit to qualify.
Have a look at the Capital One® Spark® Cash Select for Business. It has no yearly fee. You can get 1.5% cash back on every purchase. There is no limit on the cash back you can earn. Also earn a one-time $200 cash bonus once you spend $3,000 on purchases in the first 3 months. Rewards never expire.
Pay a 0% introductory APR for 9 months. Then pay 14.49% – 22.49% variable APR after that.
You will need great to outstanding credit scores to qualify.
Your absolute best business credit cards hinge on your credit history and scores.
Only you can select which features you want and need. So, make sure to do your homework. What is excellent for you could be disastrous for others.
And, as always, make certain to develop credit in the recommended order for the best, fastest benefits.