Top 5 Business Credit Cards to Choose From
What are Business Credit Cards?
Hello Friends, welcome to our article on the Best Business Credit Cards to pick from. But before we dive deep into the topic, it is important to understand what Business Credit Cards are.
Business credit cards are specially designed for small and medium business owners to help them manage their finances better. These cards come with features like higher credit limits, rewards programs, and expense tracking tools that make them ideal for business use.
Most business credit cards offer benefits like cashback rewards, airline miles, and discounts on business purchases. Moreover, these cards help businesses build a credit score, which can be beneficial in securing loans or lines of credit in the future.
Why are Business Credit Cards Important?
Business credit cards can be a powerful financial tool for small and medium business owners. They offer a range of benefits that can save businesses money, help them earn rewards, and manage expenses more efficiently.
Here are a few reasons why business credit cards are important for businesses:
- Increased Purchasing Power: Business credit cards come with higher credit limits, which can help businesses make big purchases for their operations.
- Separation of Personal and Business Expenses: Using a business credit card can help separate personal and business expenses, making accounting and tax filings simpler and less time-consuming.
- Earning Rewards: Many business credit cards offer rewards programs that can help businesses save money on travel, office supplies, and other expenses.
- Building Credit: Using a business credit card can help businesses build a credit score, which can be beneficial in securing loans or lines of credit in the future.
- Expense Tracking: Most business credit cards offer tools for tracking expenses, which can help businesses stay on top of their finances and avoid overspending.
Best Business Credit Cards to Choose From
Here are the top 5 business credit cards you can choose from:
| Card Name | Annual Fee | APR | Rewards | Other Benefits |
|---|---|---|---|---|
| Chase Ink Business Cash Card | No Annual Fee | 13.24% – 19.24% | $500 cash back bonus | 5% cash back on office supplies, cable, and telecom services |
| American Express Business Gold Card | $295 annual fee | 14.24% – 22.24% | 4X rewards on select categories | Airline fee credit, purchase protection |
| CitiBusiness AAdvantage Platinum Select World Mastercard | $99 annual fee | 15.99% – 24.99% | 50,000 American Airlines AAdvantage bonus miles | Preferred boarding, first checked bag free on domestic American Airlines flights |
| Capital One Spark Miles for Business | $95 annual fee (waived first year) | 18.49% APR | Unlimited 2X miles on every purchase | Global Entry or TSA PreCheck fee credit, purchase protection |
| Brex Corporate Card for Startups | No Annual Fee | None – Pay in Full Each Cycle | 7x points on rideshare, 4x on travel, and 2x on software | Higher limits, travel benefits, build corporate credit without personal guarantee |
Features and Benefits of Top Business Credit Cards
Chase Ink Business Cash Card
The Chase Ink Business Cash Card is an ideal option for businesses looking for a no-annual-fee cashback rewards card. Here are some of its top features:
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores, cable, internet, and phone services for each anniversary year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants for each anniversary year
- 1% cash back on all other purchases
- $500 cashback bonus after spending $3,000 in the first 3 months
- No foreign transaction fees
American Express Business Gold Card
For businesses that frequently make purchases from select categories, the American Express Business Gold Card is an excellent option. Here are some of its top features:
- 4X Membership Rewards points on the 2 select categories where your business spent the most each billing cycle
- Other purchases earn 1X Membership Rewards point per dollar spent
- Access to the American Express Global Lounge Collection
- $100 airline fee credit annually
- Purchase protection and extended warranty
CitiBusiness AAdvantage Platinum Select World Mastercard
The CitiBusiness AAdvantage Platinum Select World Mastercard is great for businesses that frequently travel with American Airlines. Here are some of its top features:
- 50,000 American Airlines AAdvantage bonus miles after spending $3,000 in purchases within the first 3 months of account opening
- 2 AAdvantage miles for every $1 spent on American Airlines purchases
- 2 AAdvantage miles for every $1 spent at telecommunications merchants, cable and satellite providers, car rental merchants
- 1 AAdvantage mile for every $1 spent on all other purchases
- Preferred boarding, first checked bag free on domestic American Airlines flights
Capital One Spark Miles for Business
The Capital One Spark Miles for Business is a great card for businesses that want flexibility with their rewards. Here are some of its top features:
- Unlimited 2X miles on every purchase
- One-time bonus of 50,000 miles after spending $4,500 on purchases within the first 3 months of account opening
- No foreign transaction fees
- Global Entry or TSA PreCheck fee credit
- Purchase protection and extended warranty
Brex Corporate Card for Startups
The Brex Corporate Card for Startups is a fantastic option for entrepreneurs and small business owners who need a credit card but don’t have a strong credit history yet. Here are some of its top features:
- No personal guarantee or credit check needed
- Higher limits than other business cards
- 7X points on rideshares, 4X points on travel, 2X points on software subscriptions, and 1X points on all other purchases
- Global corporate card benefits, including travel and expense management tools, and travel benefits like airport lounge access
How to Pick the Right Business Credit Card for Your Business?
It can be complicated to choose the right business credit card for your business needs, as every business is different and has unique financial requirements. Here are some of the factors that one should consider while choosing a business credit card:
- Annual Fees and Interest Rates: Look for cards with low to no annual fees, and compare the interest rates offered by different cards.
- Rewards and Benefits: Choose a card that provides the most relevant rewards and benefits based on your business type and expenses.
- Credit Limit: Pick a card that offers you the necessary credit limit to meet your business requirements.
- Expense Tracking and Management: Look for a card with expense tracking tools or management features to help monitor your business expenses.
- Customer Service and Support: Opt for cards that offer top-notch customer service to help you manage your account and resolve any issues that may arise in the future
Conclusion
Choosing the right business credit card can be challenging, but the benefits of picking the right card are immense. Whether it’s improved cash flow, better expense management, or accumulating rewards, business credit cards provide small business owners with a set of powerful tools to help them succeed.
We hope that our article on the Best Business Credit Cards for your business will help you make an informed decision. Remember, it’s essential to evaluate your business’s distinct needs before choosing a business credit card and always make monthly payments on time to improve your credit score in the long term.
Thank you for reading and see you soon in our next informative article!
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