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Business credit cards have become popular for small business owners who want to separate their personal and business expenses or establish business credit. These cards typically offer rewards and perks that can help offset business expenses and generate additional revenue.
However, with so many business credit cards on the market, it can be challenging to choose the right one. This article will provide a comprehensive guide to the best business credit cards for small businesses, including their benefits and drawbacks.
The Chase Ink Business Preferred is widely regarded as one of the best business credit cards on the market. It offers a generous signup bonus of 100,000 points after you spend $15,000 in the first three months. These points can be redeemed for cash, travel, or gift cards.
The card also offers excellent ongoing rewards, including 3 points per dollar on travel, shipping purchases, internet, cable, and phone services, and advertising purchases on social media and search engines (up to $150,000 in combined purchases annually). All other purchases earn one point per dollar. The card has an annual fee of $95, which is waived for the first year.
The Chase Ink Business Preferred also offers a range of benefits, including trip cancellation insurance, cell phone protection, and extended warranty protection.
The American Express Business Gold Card is another popular business credit card. It offers a signup bonus of 70,000 Membership Rewards points after you spend $10,000 in the first three months. The points can be redeemed for travel, gift cards, or merchandise.
The card also offers excellent rewards on business expenses, including 4 points per dollar on the two select categories where you spend the most each billing cycle (up to $150,000 in combined purchases annually), and one point per dollar on all other purchases. The card has an annual fee of $295, which may be a bit steep for some businesses.
The American Express Business Gold Card also comes with a range of benefits, including car rental loss and damage insurance, baggage insurance, and purchase protection.
If you prefer cashback rewards, the Capital One Spark Cash for Business card is an excellent choice. It offers an unlimited 2% cashback on all purchases, which can add up quickly for businesses with high expenses.
The card also comes with a generous signup bonus of $500 cashback after you spend $4,500 in the first three months. The annual fee is $95, which is waived for the first year.
The Capital One Spark Cash for Business also offers a range of benefits, including travel accident insurance, purchase security, and extended warranty protection.
The American Express Blue Business Cash Card is another cashback card that offers an unlimited 2% cashback on all purchases. The card has no annual fee, making it an excellent option for small businesses on a budget.
The card also offers a signup bonus of $250 cashback after you spend $3,000 in the first three months. The card also offers benefits like car rental loss and damage insurance, purchase protection, and extended warranty protection.
The Bank of America Business Advantage Cash Rewards Mastercard is an excellent option for small businesses with lower expenses. It offers 3% cashback on purchases at gas stations and office supply stores, 2% cashback on purchases at restaurants, and 1% cashback on all other purchases.
The card also comes with a signup bonus of $300 cashback after you spend $3,000 in the first 90 days. The card has no annual fee, making it an affordable option for small businesses.
The Bank of America Business Advantage Cash Rewards Mastercard also offers a range of benefits, including travel and emergency assistance, purchase protection, and extended warranty protection.
If your business requires a lot of air travel, the CitiBusiness/AAdvantage Platinum Select Mastercard is an excellent option. The card offers 2 miles per dollar on American Airlines purchases, as well as 2 miles per dollar on purchases at gas stations and select office supply stores. All other purchases earn one mile per dollar.
The card also offers a signup bonus of 70,000 American Airlines AAdvantage bonus miles after you spend $4,000 in the first four months. The annual fee is $99, which is waived for the first year.
The CitiBusiness/AAdvantage Platinum Select Mastercard also offers a range of benefits, including travel accident insurance, trip cancellation and interruption protection, and baggage delay insurance.
The U.S. Bank Business Leverage Visa Signature Card offers a unique rewards program that allows you to earn more points on the categories where you spend the most each month.
The card offers 2 points per dollar on purchases in the two categories where you spend the most each billing cycle (up to $50,000 in combined purchases annually), as well as 1 point per dollar on all other purchases.
The card also comes with a signup bonus of 75,000 bonus points after you spend $7,500 in the first four months. The annual fee is $95, which is waived for the first year.
The U.S. Bank Business Leverage Visa Signature Card also offers a range of benefits, including travel and emergency assistance, purchase security, and extended warranty protection.
Choosing the right business credit card can help you save money and earn rewards on your business expenses. Each of the above cards offers unique benefits and rewards, so it’s essential to consider your business’s specific needs before choosing a card.
For businesses with high expenses and significant travel, the Chase Ink Business Preferred and American Express Business Gold Card are excellent choices.
For businesses that prefer cashback rewards, the Capital One Spark Cash for Business and American Express Blue Business Cash Card are great options.
Small businesses with lower expenses can benefit from the Bank of America Business Advantage Cash Rewards Mastercard or the U.S. Bank Business Leverage Visa Signature Card. And for businesses that require a lot of air travel, the CitiBusiness/AAdvantage Platinum Select Mastercard is an excellent choice.
No matter which card you choose, be sure to use it responsibly and pay your balance in full each month to avoid high-interest charges and fees.
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