If you own a small business in the US, business credit cards can be your ally. 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, I have listed below some of the best card offers that are currently available in the market:
The Business Gold Rewards Card from American Express OPEN. This American Express (NYSE:AXP) business card lets you earn 25,000 Membership Rewards® Points after spending $5,000 in the first 3 months of having this card. You can also earn 3 points on up to $100,000 spent on airfare purchased from airlines, 2 points on up to $100,000 spent on gas at U.S. stand-alone gas stations, U.S. purchases from select computer hardware, software and cloud computing providers, shipping and advertising in select U.S. media, and 1 point for every dollar you spend on other purchases with your card. $175 annual fee is waived the first year. Points are earned only on eligible purchases. Terms & limitations apply.
Read our review of The Business Gold Rewards Card from American Express OPEN.
Starwood Preferred Guest Business Credit Card from American Express. This official Starwood business credit card is designed for those who like staying at the Starwood chain of hotels and resorts (including Sheraton, Le Meridien, Westin, St Regis, etc). It gives you 10,000 Starpoints® after you make your first purchase, and another 15,000 Starpoints® after you spend $5,000 in the first 6 months of cardmembership. Earn up to 5 Starpoints® per dollar spent on direct Starwood purchases, and 1 Starpoint® for every dollar spent on anything else. There is a $0 introductory annual fee for the first year, then $65.
Read our review of Starwood Business Credit Card here.
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 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 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, thereafter it’s $95.
Read our review of Chase Ink here.
SimplyCash® Business Card from American Express. This American Express business card is a credit card that lets you earn 5% cash back on services from U.S. wireless telephone service providers and purchases at U.S. office supply stores, 3% cash back on purchases made in a category that you choose, and 1% cash back on other eligible purchases. There is no limit to the cash back you can earn. Cash back is earned only on eligible purchases. 0% introductory APR on purchases for 9 months (variable APR of 12.24% – 19.24% thereafter). Get $250 in statement credit when you spend $3,000 on eligible purchases within the first 3 months if you are approved for this card before April 28, 2014. No annual fee. This is the best no-fee American Express business credit card.
Read our review of SimplyCash Card here.
Gold Delta SkyMiles Business Credit Card from American Express. This official Delta card for business owners rewards you with 30,000 bonus miles after you spend $1,000 in the first 3 months of card membership. Earn 2 miles for every dollar you spend on Delta flights, and 1 mile for every dollar you spend on all other purchases. $0 introductory annual fee for the first year, then $95.
Read our review of Delta Business Credit Card here.
The Business Platinum Card® from American Express OPEN. This is a high-end charge card that allows you to earn up to $200 of statement credit per year for incidental airline fees like checked luggage and in-flight food and beverages when you enroll and select a qualifying airline. It also lets you access more than 600 airport lounges for free through Priority Pass Select, worldwide. You will also receive 25,000 Membership Rewards points when you spend $5,000 within the first 3 months of card membership. Its concierge service will help you make reservations, book tickets, purchase gifts and is available 24 hours a day. With its Business Platinum Car Rental Program, you can enroll for free in national car rentals such as Avis Preferred, Hertz #1 Gold Club and Emerald Club. This American Express Business Platinum Card lets you earn a 20% bonus for travel when using Membership Rewards Pay with Points. With this card you can take advantage of 40 premium benefits for your business. $450 annual fee. Terms & restrictions apply.
Read our review of Business Platinum Card from American Express here.
The Plum Card® from American Express OPEN. This charge card offers flexibility when paying your balance at the end of the month. You will get a 1.5% discount for paying early or up to 60 days to pay without interest, or both each month. $0 introductory annual membership fee for your first year, then $250. There is no annual fee for employee cards. Terms and restrictions apply.
Read our review of American Express Plum Card 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 APR thereafter will be 13.24%. No annual fee.
Read our review of CitiBusiness ThankYou® Card 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.