The Best Small Business Credit Cards for Your Growing Business
Introduction
Hello Friends, as a small business owner, having a credit card tailor-made for your business needs can be a lifesaver. It not only helps you manage your business finances better but also offers rewards and perks that can help you save money. In this article, we will take a closer look at some of the best small business credit cards available in the market.
The Benefits of Using Small Business Credit Cards
Small business credit cards offer a range of benefits, including:
- Expense Tracking – With a separate credit card for your business, you can easily track your business expenses, making accounting and bookkeeping much simpler.
- Rewards and points – Many business credit cards offer rewards and points that can add up to significant savings for your business over time.
- Cash Flow Management – Business credit cards help you manage your cash flow better by providing a line of credit to make purchases and pay bills while you wait for customers to pay their invoices.
- Build Business Credit – Using a credit card responsibly can help you build your business credit profile, making it easier to qualify for loans, credit lines, and other financing options in the future.
8 Best Small Business Credit Cards
1. Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card is an excellent choice for businesses that spend a lot on travel, shipping, office supplies, and social media advertising. With this card, you can earn 3 points per dollar spent on the first $150,000 in combined purchases on travel, shipping, advertising purchases made with social media sites and search engines, and internet, cable, and phone services each account anniversary year, and 1 point per dollar spent on all other purchases.
2. American Express Business Gold Card
The American Express Business Gold Card is one of the best small business credit cards for earning rewards. With this card, you can earn 4x Membership Rewards® points on the 2 select categories where you spend the most each month. Categories include airfare purchased directly from airlines, US purchases for advertising in select media, US purchases at gas stations, US purchases at restaurants, US purchases for shipping, and US computer hardware, software, and cloud computing purchases made directly from select providers.
3. Capital One Spark Cash for Business
The Capital One Spark Cash for Business credit card is an excellent choice for businesses that want straightforward cashback rewards. With this card, you can earn unlimited 2% cash back on every purchase, with no minimum purchase amount or maximum rewards limit.
4. American Express Blue Business Cash Card
If you are looking for a card with no annual fee and cashback rewards, the American Express Blue Business Cash Card may be a great choice. With this card, you can earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% thereafter.
5. Capital One Spark Miles for Business
Travelers can benefit from using the Capital One Spark Miles for Business credit card. With this card, you can earn 2 miles per dollar on every purchase, with no limits on the number of miles you can earn.
6. CitiBusiness AAdvantage Platinum Select World Mastercard
If your business frequently flies American Airlines, the CitiBusiness AAdvantage Platinum Select World Mastercard may be a great choice. With this card, you can earn 2 AAdvantage miles for every $1 spent on eligible American Airlines purchases, telecommunications merchants, cable and satellite providers, car rentals, and gas stations, and 1 AAdvantage mile for every $1 spent on all other purchases.
7. Ink Business Cash Credit Card
The Ink Business Cash Credit Card from Chase is ideal for businesses that want cashback rewards on spending that aligns with their expenses. With this card, you can earn a $750 cash back bonus after you spend $7,500 on purchases in the first 3 months from account opening. You can also earn 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, and 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases.
8. Delta SkyMiles Platinum Business American Express Card
If you frequently fly Delta for business, the Delta SkyMiles Platinum Business American Express Card is an ideal choice. With this card, you can earn 3X miles on eligible purchases made directly with Delta and on eligible hotel purchases, 1.5X miles per dollar spent on single eligible purchases of $5,000 or more (up to 50,000 additional miles per year), and 1 mile for every eligible dollar spent on all other purchases. You also get access to priority boarding and discounted Delta Sky Club access for you and up to two guests when traveling on a Delta flight.
Do You Really Need a Business Credit Card?
Now that we’ve gone through some of the best small business credit cards in the market, let’s address a question many small business owners ask: Do you really need a business credit card?
The short answer is, it depends on your business needs. If you are a sole proprietor and have a separate personal credit card, you may not see the need for a business credit card. However, the benefits of using one can be significant if you run a growing business with multiple employees and expenses.
For example, a business credit card can help you keep track of your business expenses and separate them from your personal expenses. Having a clear view of your business expenses can be crucial come tax season and for bookkeeping purposes. Additionally, many business credit cards offer rewards programs, cashback, and other benefits that can lead to significant savings on your business expenses.
Moreover, using a business credit card can help you build your business credit profile, making it easier to access financing options such as loans and credit lines in the future. Lastly, a business credit card can help you manage your cash flow better, providing a line of credit to make purchases and pay bills while you wait for customers to pay their invoices.
Conclusion
Choosing the right small business credit card can be a game-changer for your business, offering a range of benefits that can help you manage your finances better and save money. We hope this article has given you insight into some of the best small business credit cards available in the market and the benefits they offer. Remember to choose a credit card that aligns with your business needs, spending habits, and budget. Till next time, good luck with your business finances!
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