Business credit cards can be your ally if you are a small business owner. Not only do you get a line of credit to meet your business expenses without putting up any collateral, many business credit cards offer a rewards program whereby you can earn cash back or rewards points on your spending. This year, I have noticed that some cards are also offering 0% introductory APR on purchases, which lets you make large purchases with your card without having to pay any interest during the first few months – a bonus to your cash flow. Another benefit to small business credit cards is that many of them let you get free additional cards (each with adjustable limits) for your trusted employees. This way, you can delegate business spending, and also save your staff from the hassle of claim forms.
To help you decide which is the best business credit card to get, we at DailyMarkets.com have listed below some of the best card offers that are currently available in the US:
Ink Cash Business – Earn up to $200 Bonus Cash Back. This card, issued by JPMorgan Chase, is the best business credit card for cash rebates. You can earn up to 10 points per dollar when making purchases online at Chase Rewards Plus. Every year, for the first $25,000 you spend on office supplies, telecom services and cable services you will earn 5% cash back, for the first $25,000 you spend on dining and gas, you’ll earn 2% cash back and 1% cash back on all other purchases. Enjoy 0% introductory APR on purchases and balance transfers for 12 months (13.24% variable APR thereafter). Earn 20,000 bonus points (equal $200 cash back) after spending $3,000 during the first 3 months. No annual fee.
Read our review of Chase Ink here.
Ink Bold Business Charge Card – 50,000 Bonus Points. This charge card issued by JPMorgan Chase (NYSE:JPM), allows you to earn up to 10 points per dollar spent when you make purchases through Ultimate Rewards, 5 points per dollar spent on up to $50,000 worth of office supplies, wireless and cable services, 2 points per dollar on hotel stays and gas purchases (up to $50,000 spent in these categories) and 1 point per dollar for every additional purchase made with your card. There is no limit to the points you can earn and points never expire. Earn 50,000 points when you spend $5,000 within the first 3 months. $0 intro annual fee for the first year, then $95.
Read our review of Chase Ink here.
Capital One® Spark® Miles for Business. This business card rewards you with 25,000 bonus miles when you spend $5,000 on purchases within the first 3 months. Receive 5,000 bonus miles when applying for an employee card within the first 60 days. With this card, you will also earn 2 miles for every dollar you spend on all your purchases. Earn unlimited miles that don’t expire. Miles can be redeemed for travel purchases as well as cash back, gift cards, merchandise and more. $0 intro annual fee for the first year, $59 after that.
Read our review of Spark Miles card here.
Capital One® Spark® Cash for Business. This business credit card rewards you with $250 bonus when you make $5,000 in purchases within the first 3 months. You will also receive a $50 bonus when signing up for one or more employee card within the first 60 days. For every purchase you make, you’ll receive 2% cash back. The cash back you earn doesn’t expire, and you can earn unlimited cash back. $0 intro annual fee for the first year, $59 after that.
Read our review of Spark Cash credit card here.
Capital One® Spark® Miles Select for Business. This business card rewards you with 1.5 miles for every dollar you spend on your card, as well as 10,000 miles when you spend $3,000 on purchases in the first 3 months. With this card, you will also enjoy 0% intro APR on purchases until February 2015, after that there is a variable APR of 12.9% – 20.9%. The miles you earn can be redeemed for air travel, cash, gift cards, merchandise, and more. Every year you’ll receive an itemized report on your spending at no additional cost. No annual fee.
Read our review of Spark Miles Select here.
Capital One® Spark® Cash Select for Business. This business cash back credit card offers a one-time $100 bonus if you spend $3,000 on purchases within the first 3 months of card membership. This card also lets you earn 1.5% cash back on all your purchases! Your cash back doesn’t expire and there is no limit on the cash rewards you can earn. Redeem your cash back anytime. There is a 0% introductory APR on all your purchases until February 2015 (12.9% – 20.9% variable APR thereafter). All additional employee credit cards have no annual fee. No annual fee.
Read our review of Spark Cash Select here.
CitiBusiness ThankYou® Card. This card issued by Citibank is an excellent business rewards card for companies who have a good credit history. After spending $3,000 within the first 3 months you will receive 15,000 bonus points, worth $150 in gift cards. Earn 3 points for every dollar you spend in categories that rotate every 3 months and 1 point for every dollar you spend on other purchases. Receive a percentage of the points you earned during the year as an anniversary bonus. You will also enjoy 0% intro APR on purchases for the first 6 months, the regular APR thereafter will be 13.24%. No annual fee.
Read our review of CitiBusiness ThankYou® Card here.
The Hawaiian Airlines® Business MasterCard®, is a business travel rewards credit card issued by Barclays Bank that gives you a bonus of 35,000 miles when you make your first purchase. If you’re a business owner and make frequent bookings with Hawaiian Airlines, you could save a lot of money on travel by taking advantage of the unlimited 2 miles per $1 you can earn on direct Hawaiian Airlines purchases, and 1 mile per $1 you can earn on all other purchases. You can also earn up to 40,000 bonus miles per year based on your annual spending (20,000 bonus miles if you spend $50,000-$99,000 a year, and 40,000 bonus miles if you spend $100,000 or more a year). Receive 50% off a companion ticket for a roundtrip coach travel on Hawaiian Airlines between Hawaii and North America (this is a one-time offer). Additional benefits to business owners include complimentary employee cards, consolidated statements for easier expense tracking, and no foreign transaction fees on purchases. This card has an annual fee of $89. Check terms & conditions for details.
Read our review of Hawaiian Airlines® Business MasterCard® here.
Business Credit Card Tips
If you own a small business, we recommend that you carry more than one business credit card so as to maximize the potential of each one for the overall benefit of the business. For example, you can consider having one card with 0% APR offer or a low interest rate for carrying balances, and a second card for expenditures that you will repay fully at the end of each month.
This strategy allows you to make full use of the cash back or rewards features of your small business credit card, and you can earn up to 5% cash rebates on business-related spending, such as office supplies or gas.
Over the long-term, business credit cards can help your small business build a credit history with business credit bureaus so that your business will have a credit history of its own, instead of being linked to your personal credit history.