Published By Janet Gershen-Siegel at February 6, 2018
What are the best business credit cards for 0% APR? We break down the details.
Per the SBA, business credit card limits are 10 — 100 times that of personal cards! This means you can get a lot more cash with business credit. And it also means you can have personal charge cards at stores, and now have an alternate card at the same stores for your company. And you won’t have to provide collateral, cash flow, or financials to get small business credit.
Benefits vary, so be sure to select the advantage you prefer from this array of alternatives.
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. You pay no annual fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. You will have to have a credit score of 690 or better. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For an introductory 0% APR time period, we also go for the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn twice the points on typical company expenses up to annual limit. The regular APR is 12.24% — 20.24% (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. You begin 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%; this depends on creditworthiness. There is no yearly fee. This card is just available to those with great or superb credit. However, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month introductory 0% APR offer. There is no annual fee. Right now companies can get double points on the first $50,000 in purchases every year. Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to obtain a credit limit of $500 — $25,000. The amount available equals the amount of funding you supply to secure the line. Your purchase APR rate can be as low as a variable 13.15%. The annual fee is $25. The more cards you have the more expensive your yearly fee will be. This card allows company owners with poor personal credit to obtain a card to make purchases and develop business credit. The card will just report to the personal credit agencies if you default or are behind on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
For Fair Credit, we are partial to the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. You will need to have a credit score of 690 or better. TAKE NOTE: the ongoing APR is 23.99% variable APR. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/
Check out the SimplyCash Plus Business Credit Card from American Express. You can earn as much as $400 cash back. Earn a $200 statement credit after spending $5,000. You get 5% cash back at US office supply stores and on wireless phone services purchased straight from US service providers (this applies to the first $50,000 of annual spending). You also get 3% cash back on spending category of your choice, from eight varying categories, which include airfare, gas, advertising and computer purchases (applies to first $50,000 of yearly spending). Additionally you get 1% cash back on all other purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279
Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can earn a $200 statement credit after $500 in purchases within 60 days of account opening. You also get 3% cash back on purchases at gasoline stations and office supply stores (up to $250,000 yearly). And you get 2% cash back on purchases at restaurants, and 1% cash back on all purchases. There is no yearly fee. It is offered to applicants with exceptional credit. Your cash back can only be redeemed in $25 increments. Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/cash-rewards-business-credit-card/
Additionally, have a look at the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, with no limits. New cardholders can also get a $200 cash bonus as soon as they spend $3,000 on new purchases during the first three months of account opening. New customers also get initial APR of 0% on purchases for nine months. There is no yearly fee. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/
For Travel Points, we prefer the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles after you make $1,000 in purchases on your new card within your first three months. Terms and limitations apply. Also earn a $50 statement credit after you make a Delta purchase with your brand new card within your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile on each qualifying dollar spent on purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
– Priority Pass Select
– Delta SkyClubs
– American Express Centurion Lounges
You also get Gold Status when you enroll in the Starwood Preferred Guest program. You receive a $200 annual air travel fee credit. There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. You get one point per dollar spent on the majority of purchases. You get 1.5 times the points on charges of $5,000 or more on qualifying purchases, up to one million added points yearly. You get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel web site. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Also, be sure to have a look at the Ink Business Preferred Card from Chase. Get 80,000 bonus points once you spend $5,000 on purchases within the first 3 months from account opening. Earn three points for each dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone, advertising purchases made with social media sites and search engines each account anniversary year. Earn one point per dollar on all of the other purchases. There is no cap to the amount you can earn. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-business-preferred
Consider the Business Gold Rewards Card from American Express OPEN. You can earn 50,000 Membership Rewards points after $5,000 in purchases on the card during first three months. You get three points on your choice of five categories, two times the points on the other categories, and one point per dollar on all other purchases. It has a $0 annual fee for the first year, and after that your annual fee increases to $175. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards
Also, check out the Business Platinum ® Card from American Express OPEN. You can earn as many as 75,000 Membership Rewards points at the time of account opening. You can also get 50,000 Membership Rewards points after spending $10,000 and an extra 25,000 points after spending an added $10,000 all on eligible purchases during first three months. Plus you can get five times the Membership Rewards points on airline flights and pre-paid hotels on amextravel.com. But keep in mind; it has a $450 yearly fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Your absolute best business credit cards are based on your credit history and scores. Only you can make a decision on which perks you want and need, so make sure to do your research. And, as always, make sure to build credit in the recommended order for the maximum, fastest benefits.