Published By Janet Gershen-Siegel at May 10th, 2021
Do YOU need a first time business credit card?
We researched lots of company credit cards for you. So, here are our choices.
Per the SBA, business credit card limits are a whopping 10 – 100 times that of personal credit cards!
This shows you can get a lot more money with company credit cards.
And you will not need collateral, cash flow, or financials to get small business credit.
Benefits can vary. So, make sure to pick the benefit you would prefer from this selection of alternatives.
And always check rates on the appropriate website.
You will not need to provide your Social Security number to apply. And you will not need to supply a personal guarantee. They will take your EIN.
Nevertheless, they do not accept every industry.
Likewise, there are some industries they will not work with, as well as others where they want more paperwork. 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 travel. Likewise, get triple points on restaurants. And get double points on recurring software payments. Get 1x points on everything else.
You can have bad credit (even a 300 FICO) to qualify.
Find it here: https://brex.com/lp/startups-higher-limits/
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 26.99%. You can earn unlimited 1% cash back on every purchase for your company, without any minimum to redeem.
While this card is within reach if you have average credit scores, beware of the APR. However if you can pay on schedule, and completely, then it’s a bargain.
Have a look at the Ink Business Unlimited℠ Credit Card. There is no yearly fee for the first year. Then pay $250 per year. There is no introductory APR deal. If you pay your bill early, you get a 1.5% discount, with no cap on what you can earn back.
Earn 5% cash back at office supply stores and on cellular and landline phone service, internet, and cable TV; 2% cash back at gas stations and restaurants; and 1% cash back on everything else.. 5% and 2% cash-back bonus rewards apply only to the first $25,000 spent on the corresponding bonus categories each account anniversary year. You will need exceptional credit scores to get this card.
Check out the Blue Business® Plus Credit Card from American Express. It has no yearly fee. There is a 0% introductory APR for the initial year. Afterwards, the APR is a variable 13.24 – 19.24%.
Get double Membership Rewards® points on day to day business purchases like office supplies or client suppers for the initial $50,000 spent per year. Get 1 point per dollar afterwards.
You will need good to excellent credit to qualify.
Check out the Discover it® Business Card. It has no yearly fee. There is an introductory APR of 0% on purchases for one year. After that 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.
Check out the Ink Business Cash℠ Credit Card. It has no yearly fee. There is a 0% introductory APR for the initial year. After that, the APR is a variable 13.24 – 19.24%. You can get a $750 one-time cash bonus after spending $7,500 in the initial 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 web, cable, and phone services each account anniversary year.
Get 2% cash back on the first $25,000 spent in combined purchases at gasoline stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. There is no limitation to the amount you can earn.
You will need exceptional credit to qualify for this card.
Find it here: https://creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF
Take a look at the Capital One® Spark® Cash Select for Business. It has no annual 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 as soon as you spend $3,000 on purchases in the first 3 months. Rewards never expire.
Pay a 0% introductory APR for 9 months. Then pay 13.99% – 23.99% variable APR after that.
You will need good to exceptional credit to qualify.
Your straight-out ideal company credit cards depend upon your credit history and scores.
Just you can choose which features you want and need. So, to do your research. What is outstanding for you could be disastrous for another person.
And, as always, make sure to develop credit in the recommended order for the best, speediest benefits.