Best credit cards for small business
Small-business credit cards are not just meant for people with offices and storefronts. If you have a side hustle or you are freelance or you do gig work, you might be a candidate for a small-business credit card, too. Having a dedicated credit card for your money-making enterprise assists you keep personal and business finances separate. And most small-business cards offer perks and rewards to rival some of the best consumer cards. In this post, you will find some of the best small-business cards and information on benefits and rewards.
The Business Platinum Card from American Express
If you are after travel perks, the Amex Business Platinum card is good for you. Cardholders will enjoy an automatic gold status in both the Hilton Honors and Marriot Bonvoy loyalty programs together with numerous other benefits- inclusive of Centurion Lounge access Delta Sky Club access, up to $200 n yearly airline-fee credits and a thirty-five points rebate for flights booked via Amex Travel in business class or first on any airline, or economy on the airline of your choice annually. Moreover, the Business Platinum features a 5x bonus section for airfare and prepaid hotels booked via Amex Travel, together with a 1.5x earning rate for eligible purchases over $5,000.
Ink Business Preferred Credit Card
If you spend most of the time on business travel or social media advertising, you will be able to keep generating significant points with the Business Preferred card after the signup bonus. This is a result of its 3x bonus for the first $150,000 in combined shipping, travel, online advertising, and telecommunications purchases made each account anniversary year. TPG’s most current point valuations peg the value of Chase Ultimate Rewards points at two cents apiece, so you get a great return of six-percent on purchases in these sections. If you spend the full $150,000, you will take home $450,000 ultimate rewards points (Which are equivalent to $9,000 based on TPG’s valuations).
You can also get great value of Chase Ultimate Rewards points by converting them to ten airlines and three hotel loyalty programs. Typically, it can get you more value when you redeem points for award flights with carriers like Virgin Atlantic or for award stays at Hyatt properties. Besides, the card gives you twenty-five more value for the points you earn when you redeem them for travel at a fixed price in the Ultimate Rewards portal, a park also accessible on other Chase credit cards.
Capital One Spark Cash for Business: Best credit card for business cash back
The worth in the simplicity of cash-back business cards can not be overstated. Even though earning transferable points can be more valuable, it can be time-consuming to extract that additional value. Moreover, when it comes to travel rewards credit cards, the rewards can frequently only be used for travel. Sometimes, your business requires extra cash for other expenses. What makes this credit card even better is that it earns an unlimited two percent cash back on each purchase. You do not need to juggle various cards as you try to increase specific bonus categories. Just swipe the Spark Cash and enjoy a straightforward return on each purchase.
Capital One Spark Miles for Business: Best credit card for daily business spending
Capital One miles transfer to seventeen airline and hotel partners, inclusive of Flying Blue, Avianca, and Air Canada. And since this card earns at least 2x miles on each purchase, it is an excellent option for business owners who desire to increase their daily investments. TPG Values Capital One distance at 1.4 cents each, so you are getting a return of at least 2.8%despite what section your business expenses fall into. You also have the choice to use your miles to cover travel expenses at a fixed-value of one cent apiece, so you are assured of getting an effective return of at least two percent on each company purchase. Besides, this is one of the few credit cards without a huge annual fee that comes with a Global Entry/TSA PreCheck requisition fee credit- and the $95 yearly fee is even waived for the first year. Be.sides; if you spend a lot on hotels or rental cars, you can earn five times when you book with the card via Capital one Travel.
Costco Anywhere Visa® Business Card by Citi
This is an ideal business credit card for everyday cashback. Providing four percent cash back on eligible gas purchases (for the first $7,000 in purchases annually, then one percent after that), three percent on restaurants, and qualified travel. It also offers two percent on Costco purchases, and one percent on general purchases, this is a simple choice for business owners who already are Costco members. The main advantage of this credit card is that there is no cap on rewards earnings and no yearly fee with a paid ($60) Costco membership. However, on the downside, the cashback rewards are only issued after a year in February and are only redeemable at Costco. The three percent is pretty great, even though it has limits with current restrictions on travel and dining in restaurants.
CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®
This credit card is packed with travel rewards perks for frequent American Airlines flyers inclusive of two times AAdvantage® miles on eligible purchases at American Airlines, cable and satellite providers, telecommunications merchants, gas stations, and car rental merchants. The welcome bonus is one of the most generous among business credit cards. For a limited time, you can earn 70,000 American Airlines AAdvantage® bonus miles when you spend $4,000 in eligible purchases within the first four months of account opening. However, this credit card makes sense for those who plan to fly American Airlines often. Also, there is an annual fee, $99, waived for the first one year.
Ink Business UnlimitedSM Credit Card
This is the best credit card for boosted rewards. Not only will you earn unlimited 1.5% cash back on each purchase, but you can also convert your rewards to a qualifying Chase Ultimate Rewards card and boost their value by twenty-five percent when you redeem for travel. The best part is even with no annual fee; the Ink Business Unlimited has a great signup bonus of $500 after a $3,000 spend within the first three months of card membership. You can also get a zero percent intro APR for one year on purchases- it is 14.74% to 20.74% variable after that. On the downside at 1.5% back on all purchases, you can get better rewards on daily business expenses with The Blue Business Plus. Also. There is no zero percent intro APR for balance transfers.
Ink Business CashSM Credit Card
Ink Business CashSM Credit Card is the best business credit card for cash on office supplies. It is one of the only credit cards that incorporates a bonus on office supply spending, providing five percent cashback on your first $25,000 in mixed purchases at office supply stores, together with internet, phone services, and cable each anniversary year. If you are working from home for the foreseeable future, this cashback reward can be a massive benefit for offering your employees the service they require to stay productive online.
The main pro of this credit card is that it has a signup bonus of $500 after a $3,000 spend within the first three months of credit card membership. Besides, the tiered sections provide excellent variety. On the downside, after your first $25,000 in mixed bonus category purchases, you will only make 1% cashback. A business credit card can assist you in maximizing your purchases, separating your expenses, and even saving money on interest annually. The business credit cards discussed in this post offer bonus rewards on categories popular with small businesses such as gas, advertising, airfare, and office supplies.