The Best Business Credit Cards for Your New or Small Business
Hello Friends, starting a new business or running a small business can be tough, especially when it comes to finances. As a business owner, you need to have a proper plan to manage your business expenses and monitor your cash flow. This is where a business credit card comes in handy. With the right credit card, you can earn rewards, cashback, and other perks that can help you keep your finances under control.
In this article, we have compiled a list of the best business credit cards for new and small businesses in 2021. These credit cards offer a range of benefits, including cash back, rewards, travel points, and low-interest rates.
Cashback Credit Cards
If you are looking for a business credit card that offers cash back rewards, then here are some of the best options:
- Ink Business Cash Credit Card: This is the perfect credit card for businesses that spend a lot on office supplies, internet, cable, and phone services. The Ink Business Cash Credit Card offers 5% cash back on up to $25,000 in combined purchases in these categories, and 2% cash back on the first $25,000 spent at gas stations and restaurants each year. There’s also a $750 bonus cash back after you spend $7,500 in the first 3 months from account opening. The annual fee is $0.
- Capital One Spark Cash for Business: This credit card offers a flat 2% cash back on all purchases with no limit. There’s also a one-time $500 cash bonus after you spend $4,500 on purchases within the first 3 months from account opening. The annual fee is $0 for the first year and $95 after that.
- SimplyCash Plus Business Credit Card: This is a great credit card for small business owners who want to earn cash back on their purchases. It offers 5% cash back on purchases at U.S. office supply stores and wireless telephone services, 3% cash back on purchases in a category of your choice (e.g. gas stations, restaurants, or airfare), and 1% cash back on all other purchases. There’s also a $250 statement credit after you spend $5,000 in qualifying purchases within the first 6 months of account opening. The annual fee is $0.
Rewards Credit Cards
If you prefer earning rewards points that can be used for travel or merchandise, then these are the best business credit cards for you:
- Chase Ink Business Preferred Credit Card: This credit card offers 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards. It also offers 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year. The annual fee is $95.
- American Express Business Platinum Card: This is a premium credit card for businesses that offers a host of benefits, including airport lounge access, airline fee credits, and hotel elite status. It also offers 5 points per $1 on flights and prepaid hotels on amextravel.com and 1.5 points per $1 on purchases of $5,000 or more. The annual fee is $595.
- CitiBusiness AAdvantage Platinum Select World Mastercard: This credit card is ideal for businesses that frequently travel with American Airlines. It offers 2 AAdvantage miles per $1 spent on eligible American Airlines purchases, telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations, and 1 AAdvantage mile per $1 spent on other purchases. There’s also a 65,000 AAdvantage bonus miles offer after you spend $4,000 in purchases within the first 4 months of account opening and no annual fee for the first year, then $99.
Low-Interest Credit Cards
If you need a credit card with a low-interest rate to help you manage your business expenses, then these are the best options:
- American Express Blue Business Plus Credit Card: This credit card offers 0% introductory APR on purchases and balance transfers for the first 12 months from account opening. After that, the APR will be a variable rate based on your creditworthiness and other factors. It also offers 2 points per $1 on the first $50,000 in purchases each year, and 1 point per $1 on all other purchases. The annual fee is $0.
- Capital One Spark Classic for Business: This credit card is designed for businesses with average credit. It offers unlimited 1% cash back on all purchases and has no annual fee. The APR is a variable rate based on your creditworthiness and other factors.
- Bank of America Platinum Plus Mastercard Business Card: This credit card offers a low introductory APR on purchases and balance transfers for the first 7 billing cycles from account opening. After that, the APR will be a variable rate based on your creditworthiness and other factors. There’s also no annual fee.
In summary, having a business credit card can provide you with a range of benefits that can help keep your finances under control. Whether you are looking for cash back rewards, travel points, or low-interest rates, there’s a credit card out there that’s perfect for your needs. Before you apply for a credit card, make sure to read the terms and conditions carefully and compare different options to find the one that suits your business best.
Thank you for reading and we hope this article has helped you find the best business credit card for your new or small business. See you in our next informative article!
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