In this article, I list the 15 best business credit cards for entrepreneurs. Cash is the most important thing, if you have a growing small business. You cannot replace it with time or expertise though you need those two to manage money and grow your business. You need a cash injection, so that cash flows in and out of your business with ease. A credit card can be this life a saver for that start-up business. But you need to get the best in the pack to give you the needed cash to run your business and earn points along the way. Credit cards help businesses that are yet to develop a high business credit profile to get a corporate credit card.
Also, the credit cards will enable you to build a credit history and separate business expenses from personal expenses. You are able to pay for purchases, manage the spending better and save money more money. In this list, you will see top names such as Chase, American Express, Capital One and so on. They offer varying credit cards with different features for aspiring businesses. So, in this post, I will help you sift the proverbial wheat from the chaff to give the best business credit cards.
List of best business credit cards
American Express is top in our list of best business credit cards. You earn 50,000 Membership Rewards points once you spend $10,000 and earn and another 50,000 points after you spend an extra $15,000 on all qualifying purchases you make in your first 3 months of Card Membership.
Besides, you can get 5x Membership Rewards points on flights and prepaid hotels on amextravel.com. But you have to cough out an annual fee of $595 but the Bonus value of $2,000 may compensate for it.
This credit card is juicy for small business owners and it is the best business credit card for business travel. The offer from Chase bank starts with the 80,000 Ultimate Rewards points once you spend $5,000 in the first three months.
The reward is estimated to be up to $1,600. And you can earn more points when you spend on travel, taxis, shipping, internet, phone services, advertising and so on. And the $95 annual fee is minimal.
Another card in this list of best business credit cards is Capital One. If you need a credit card to keep you topped up with air miles, then get Capital One business credit card.
It offers 50,000 bonus miles after you spend $4,500 on purchases in the first 3 months from your account which is equal to about $500 in travel. Besides, you receive 2x miles each time you buy with your card with no blackouts or seat restrictions and no minimum to redeem.
The annual fee of $95 is waived for the first 12 months plus you get a bonus of $700.
You could consider this option if your business takes you from the Marriott hotel to another Marriott hotel. You can earn 100,000 Marriott Bonvoy points on the condition that you spend $5,000 in purchases using your new Card in your first 3 months.
And to top it up, there are 6x points offered for every dollar of eligible purchases you make at Marriott Bonvoy hotels and 4x for the money you spend in restaurants and gas stations in the US that are participating. The annual fee is $125 plus a bonus of $800.
This next entry on the list of best business credit cards is from Chase bank. This card is perfect if you are not sure whether you will use the card that much. You don’t pay an annual fee yet you get a bonus of $500 cash back.
You get this cash back once you spend $3,000 on purchases in the first 3 months after account opening. And then get unlimited 1.5% cash back rewards on every purchase made for your business thereafter.
If you have a business with little or poor credit, this card offers a firm opportunity to build credit and earn 1.5% cash back on all purchases. Also, it has a low annual fee of $25 and a cash back reward program.
The problem with this credit card is that there is a cap on the credit limit. Also, you need to deposit security, 5% cash advance fee and credit check.
The card is the best business credit card for cash back without any fees. And it is recommended for businesses that spend heavily in the first year. You can increase impressive rewards with the 1-for-1 matching cash back intro offer. It also has a 1.5% cash back reward on all amounts you spend and double cash back for the first year you use the card.
The challenge with this card is that you must give the bank a personal guarantee. And it has no travel benefits and bonus spending plans to increase your rewards.
A business that has significant spending can get this card. Also, if it can spend in any two categories and offset the annual fee, it earns massive rewards through the 4x point rate. This card has easy redemption and points transfer features.
And you have travel benefits and automatic 4x points on two categories where you spend more. The problem with this card is that it has annual fee of $295 and the 4x points are restricted to only the first $150,000 spent annually. Also, there is no option to carry a balance.
This card is the best business credit card for employee use. It is also for businesses with annual sales of more than $1 million who need robust employee spending control and reporting. There is no fee for employee cards but there is a tight control of how much employees spend, category and time.
It also has complete reports on spending. The cons are that the rewards are not attractive, employees are required to spend $25,000 minimum and it is only for a business that has sales of over $1 million.
This card is the best business credit card for Air travel. And Small businesses who travel frequently on AA will enjoy the benefits that come with this card. You can earn up to 50,000 bonus miles after qualifying purchases.
It has a large network of airlines that are partners through Oneworld Alliance. There is no foreign transaction fee. But it does not give you access to American Airline’s Admiral’s Club airport lounges and you pay annual fee of $99 which is waived for the first year only. Another problem with it is that the APR is 17.49% to 25.49% and is based on your creditworthiness.
This card is the best credit card for business startups and early-stage companies with funding but no profits, and whose promoters do not want to put personal credit ratings at risk. This card does not need a credit check or a personal guarantee. Also, there is no annual fee and you get immediate credit line upon sign up. But it is for liquid startups and the restricted reward program is for companies that meet the required qualities.
The Southwest Rapid Rewards Performance Business Card is best for a business that uses the airline often. But it charges an annual fee of $199 and a continuing APR starting at 17.99%. And there is no access to interest-free financing through this business credit card.
However, you can earn up to 80,00 points after you spend $5,000 in the first 3 months on your account. Also, you can get 9,000 bonus points after card member anniversary, and 3 points per $1 you spend on Southwest Airlines purchases.
This card is the best credit card for business travel. And it rewards you without annual fees. You can earn 25,000 bonus points when you spend $1,000 in total purchases in 60 days after opening your account. And you can redeem this reward for a $250 statement credit towards travel spending.
You are also eligible to earn unlimited 1.5 points on every $1 spent on purchases everywhere and 3 points per dollar spent on travel purchase. It has a low APR of 12.99%.
This card gives 2% cash back with no annual fee. This card is for businesses that want to earn the 2% cash back on all they buy up to $50,000 per year. 1% cash back is automatically paid into their statement without paying an annual fee. The continuing APR is 14.74%, which is two percent points below the average.
This card is best for United Airlines Rewards and the last in this list of best business credit cards. It is for business owners who are faithful United Airlines customers. You will earn 2x miles on all United airlines spending.
Also, this card earns bonus rewards on restaurants, gas stations and office supply spending. The continuous APR is 17.74%, which is two percentage points above usual card charges. There is no annual fee for the first year but $95 thereafter.
In this post, I gave you a list of 15 best business credit cards for entrepreneurs. These are the best credit cards you can use to save more money, increase your credit rating and earn bonus points as well. They will also let the much-needed cash flow into your business and help you leapfrog the startup stages of your business into the elite profitable business class. Try any of these cards now.