Instead of going through the trouble of selecting a card specifically created for business, business owners are frequently tempted to use their credit cards. In addition, they do it sometimes simply because they believe it is easier.
Other times, it’s because they’re either unaware that credit cards for small businesses exist or don’t know what to search for when sifting through the possibilities. Furthermore, in essence, choosing a small company credit card is similar to choosing a personal credit card, with significant considerations such as APR, annual fees, and payment periods.
However, there are a few more aspects to consider. The type of benefits you will receive when you sign up is crucial to this. Check out our list of the 15 best business credit cards for small businesses to learn more.
1. Wells Fargo Active Cash Card:
Make your life easier with the Wells Fargo Active Cash card if you’re interested in opening a cash-back card. But are bewildered by other options that describe “cycling categories” or “spending limitations.” It has been considered by experts as the best business credit card for business.
Additionally, earn 2% cash back on every purchase and use your points for cashback to help you save money on everyday expenses or give yourself a present — from you to you.
Because there is no yearly charge, you may keep your expenses low while focused on collecting incentives. In addition, this card has a 3% international transaction fee, so don’t take it with you when you travel.
2. The Business Platinum Card from American Express:
The American Express Business Platinum Card is the 2nd on our list of best business credit cards in 2022. While The card comes with a hefty annual charge of $595. Additionally, if you make good use of the benefits package, you’ll soon be reaping the benefits.
In addition, you’ll get a $200 annual airline fee credit, up to $100 in statement credits semiannually, access to Centurion. And Priority Pass lounges, 5 points per $1 on airfare and hotels, 1.5 points on purchases exceeding $5000.
Furthermore, you will get 1 point on e-commerce purchases in addition to a 50,000-point sign-up bonus. Additionally, if you spend $10,000 in the first three months (plus another 25,000 points if you spend $20,000). With a total value of $1000 in advantages, the annual charge appears to be a lot less obnoxious than it first appears.
3. American Express Business Gold Card:
A generous benefits package making it one of the best business credit cards in 2022. These Include 35,00-point sign-up bonuses when you spend $5000 in the first three months after account opening. There are 4 x points on the first $150,000 you spend in the first year on your top two purchasing types.
There are no foreign transaction fees, a 25% rebate on airfare, travel accident insurance, baggage insurance, car rental loss. It has damage insurance, and roadside assistance, it’s easy to see why.
4. Chase Ink Business Unlimited Credit Card:
Chase Ink Business Unlimited is a no-fee, annual-fee business credit card that is similar to the Chase Freedom Unlimited Credit Card, a consumer business credit card that offers unlimited 1.5 percent cashback.
Additionally, Cashback is earned through Ink Business Unlimited’s Ultimate Rewards points, which may be redeemed for cash, gift cards, travel purchases, and general products.
Furthermore, a significant sign-up incentive of $750 is available after spending $7,500 in three months, as well as a 12-month 0% APR purchase promotion. Among small business credit cards, the latter is a rarity.
5. Southwest Rapid Rewards Performance Business Credit Cards:
When you examine the benefits package, the $199 annual fee for the Southwest Rapid Rewards Performance Business Credit Card is certainly worth it.
Aside from a generous membership program (expect 3x points per $1 spent with Southwest and its partners, 2x points per $1 spent on internet and phone services, and 1x point per $1 spent on all other purchases).
You’ll also get an 80000-point sign-up bonus after spending $5000 in the first three months. Four A1-A15 boarding passes per year, and up to $3658 in-flight Wi-Fi passes.
6. American Express Blue Business Cash Card:
The American Express Blue Business Cash credit card is a popular American Express credit card with a generous introductory 0% APR period (12 months), a great cash rewards program, and minimal fees.
Additionally, this business credit card offers 2% cashback on all qualified purchases, up to $50,000 per year. If you spend more than $50,000 in a year, you’ll get 1% cashback. Furthermore, after you earn cashback, it will appear as a statement credit on your second statement.
7. Delta Reserve for Business Credit Card:
The Delta Reserve for Business Credit Cards now has a bonus value of $489, which isn’t the best, but it’s still a good option if you’re a frequent Delta client. In addition, it also gives you 2x miles on Delta purchases, 15,000 MQMs. The Delta deserves for the business credit card is also one of the best business credit cards in 2022.
And 15,000 redeemable miles when you spend $30,000 (or 30,000 MQMs and 30,000 redeemable miles after you spend $60,000). There are no international transaction fees. On the negative side, the $575 annual cost is one of the highest in this category.
8. The Blue Business Plus Credit Card from American Express:
The American Express Blue Business Plus card is a popular business card with a good rewards program and a long introductory 0% APR period.
Furthermore, this card pays you to go about your business normally. On everyday business purchases like office supplies or client dinners, you earn 2X Membership Rewards® points.
The 2X rate applies to the first $50,000 in annual purchases, then 1 point for every dollar after that. Meanwhile, Through American Express’s Membership Rewards® platform, you may exchange your points for gift cards, online shopping, travel purchases, and more.
When points are redeemed, they are usually worth $0.005 to $0.01, with redemption minimums starting at 5,000 points.
9. CitiBusiness Advantage Platinum Select World Elite Mastercard:
The CitiBusiness AAdvantage Platinum Select World Elite Mastercard is a good option to consider if you’re a frequent flyer with American Airlines.
Additionally, you’ll get 60000 miles if you sign up and spend $3000 in the first three months. Furthermore, continue to use the card to make purchases, and you’ll earn 2x AAdvantage miles on American Airlines, phone, internet.
They also provide TV providers, car rentals, gas stations, and 1 x mile on everything else. Other perks include a free checked bag, priority boarding for you, and up to four companions. There are no foreign transaction fees, and the opportunity to avoid paying the $99 annual fee for the first year.
10. The Brex Mastercard Corporate Credit Card for Startups:
The Brex Mastercard Corporate Credit Card for Startups is a fee-free corporate reward credit card. It has a significant rewards program.
In addition, unlike most other business credit cards, it does not demand a personal guarantee (even for small business customers) and offers a credit limit that is ten times that of your present corporate card.
Additionally, the catch: You can’t carry balances from month to month because your statement balance is automatically paid in full on a net 30 basis. Furthermore, there’s more to come. You gain access to a terrific rewards program when you agree to make Brex for Startups your primary credit card.
11. Gold Delta SkyMiles Business Credit Card from American Express:
When you sign up for the American Express Gold Delta SkyMiles Business Credit Card. In addition, you’ll get 30,000 bonus miles after spending $1000 in the first three months (plus a $50 statement credit if you make a Delta purchase during that time). No foreign transaction fees, a 20% discount on onboard purchases, and priority boarding.
12. Capital One Spark Cash Plus:
Capital One Spark Cash Plus is cash back credit card that offers a substantial early spend bonus and a rewards structure that counts all purchases equally. The capital one spark cash plus is also one of the best business credit cards in 2022.
In addition, all purchases receive an unlimited 2% cashback from the start, with no ceilings or restrictions.
Furthermore, once you’ve accumulated any cashback, you can exchange it for checks or general statement credits in any amount. You’ll get a $200 cash bonus if you spend at least $200,000 in a year.
13. Platinum Delta SkyMiles Business Credit Card from American Express:
The Platinum Delta SkyMiles Business Credit Card from American Express can help you attain your Delta Elite Medallion status owing to its substantial sign-up and reward points program.
Furthermore, other features include no foreign transaction fees, a free checked bag. And priority boarding for you, up to eight passengers, a 20% statement credit when you use your card for Delta in-flight purchases. It has a 50 percent discount on Sky Club airport lounge memberships for you and up to two friends.
14. Hilton Honors American Express Business Card:
The Hilton Honors American Express Business Card is a good option for small business owners looking for a card that rewards them for travel.
With a current bonus value of $780 and an annual fee of just $95. Furthermore, no international transaction costs, gratis Hilton Honors Gold Status, travel security, and a robust membership rewards program are just a few of the perks.
15. Marriot Bonvoy Business American Express Cards:
The Marriott Bonvoy Business American Express Card is the corporate counterpart of the Marriott Bonvoy Brilliant American Express Card. Fees, conditions, rewards programs. it is one of the best business credit cards for small businesses.
And ancillary perks are all similar between the two cards. Additionally, at participating Marriott Bonvoy hotels, eligible purchases earn 6 points for each $1 spent.
However, there are 4 points per $1 spent on eligible purchases made in the U.S. Restaurants, U.S. Gas stations, wireless telecom purchases made directly with the U.S Providers. And U.S. Shipping purchases. Every $1 spent on any other eligible product earns you two points.
Conclusion
Conclusively small credit cards and corporate credit cards are the two categories of business credit cards. Listed above are the best business credit cards for both big businesses and small businesses.
If you’re just getting started and your revenue is in the thousands rather than millions, a small company credit card. Then immediately you hit millions, you can then go for corporate credit cards. As a result, your financial liability for the account would be limited.
Furthermore, finally, the finest business credit card is the one that performs the best for your unique requirements. Knowing what expenses, you’ll most likely charge to the card will help you choose the right card. To make an informed decision, make sure to explore all the numerous advantages that credit cards have to offer.
In addition, consider getting your credit card from a bank or credit union where you already have an account, so you can continue to grow your financial relationship. Moreover, you may be able to negotiate a better rate and add more business goods to assist you in developing your credit history if you do so.
FAQs
Business credit cards can be a quick and easy way to get money for whatever your company needs. Credit cards can be used to bridge the gap between the requirement for cash and the customer’s receipt of payment.
In addition, credit cards can be used by business owners to pay for early organization setup and expenses like signage, inventory, and advertising. Capital assets, including machinery, furniture, and electrical equipment, can be purchased with the help of business credit cards. Furthermore, this allows your company to earn revenue while still paying down the debt.
Business credit cards can be a quick and easy way to get money for whatever your company needs. Credit cards can be used to bridge the gap between the requirement for cash and the customer’s receipt of payment.
In addition, credit cards can be used by business owners to pay for early organization setup and expenses like signage, inventory, and advertising. Capital assets, including machinery, furniture, and electrical equipment, can be purchased with the help of business credit cards. Furthermore, this allows your company to earn revenue while still paying down the debt.
In the following respects, business credit cards differ from consumer credit cards. Higher credit limits may be available on business credit cards. Employees can be given cards, but the business owner is still responsible for paying the charges on each employee’s card. In addition, many small-business operators finance their operations with personal credit cards. Personal credit cards are typically easier to qualify for small and newly established firms, but the issuers do not report to corporate credit bureaus. Furthermore, as previously stated, combining business and personal transactions on the same credit card may jeopardize your limited liability protection, placing your assets at risk if your corporation or LLC is sued.
There are many various types of businesses these days, and they don’t always mirror a classic business model. To get a business credit card, you don’t need a storefront, a warehouse, or any other substantial facilities or hard assets. Furthermore, You can have a business credit card issued in any industry if you have good personal and business credit and otherwise meet the issuer’s criteria. So, if you’re self-employed or fall into one of these unconventional business categories, don’t be discouraged. Sellers on Etsy, Amazon, or eBay, Freelancers, consultants, and independent contractors, and authors who self-publish.
Pay attention to the bonus categories that earn the most points — usually travel, dining, or office expenses like shipping — and make sure you’re getting the most out of your card. Then, to make your new company credit card work for you, take advantage of the card’s bookkeeping and accounting functions.
Making on-time credit card payments and not carrying a debt helps you develop company credit.
References
- creditcards.usnews.com/business
- moneycrashers.com/best-small-credit-cards/
- nerdwallet.com/best/small-business
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