Best Small Business Credit Cards

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by parag
Last Updated: May 25th, 2016
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KEYWORDS:#credit cards #tips #rewards #cash back
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If you’re a small business owner, you know how important it is to keep your business expenses separate from your personal expenses. Your accountant to say nothing of the IRS will be rather unhappy if you don’t! One of the easiest ways to keep those expenses separate is to open a credit card in the name of your business that you use only for business expenses. 

And because business expenses can really add up, you want to make sure you’re getting some nice benefits when you pull out your corporate card. We read the fine print for you and found the best small business credit cards.

 

Chase Ink Cash

Chase offers two versions of their Ink card and each is a little different, but they are both among the best small business credit cards available so we’ve included the details for each one. 

Sign Up Bonus: You will receive $200 in cash back after spending $3,000 in the first three months.

Rewards: This card is a cash back card. You get 5% cash back for each $1 spent on each account year anniversary up to $25,000 on office supply stores and your cell phone, land line, internet and cable bills. You can use the rewards for cash back, gift cards, or travel. 

You get 2% cash back for each $1 spent on each account year anniversary up to $25,000 on gas station purchases and restaurants and an unlimited 1% cash back on all other purchases with no limit. 

Fees: This card has no annual fee, but there is a 3% foreign transaction fee. The APR is 0% for the first 12 months, and then is a variable 13.49%, 17.49%, or 19.49%.

Credit Score: You need a score of “Excellent” for this card, a score above 750. 

 

Chase Ink Business Plus

Sign Up Bonus: It’s a big one even among non-business credit cards! You will receive 60,000 bonus points after spending $5,000 in the first three months. That is equal to $750 in travel rewards when booking travel through Chase Ultimate Rewards, which is Chase’s booking portal. 

Rewards: You get 5 points for each $1 spent on each account year anniversary up to $50,000 on office supply stores and your cell phone, land line, internet and cable bills. You get 2 points per $1 spent on each account year anniversary up to $50,000 on gas stations and hotels. You get 1 point for every other $1 spent with no limits. You can redeem your points for cash back, travel, gift cards, or Amazon purchases. 

Fees: This card has an annual fee of $95 and no foreign transaction fees. The APR is a variable of 15.49-19.49%.

Credit Score: You need a score of “Excellent” for this card, a score above 750.

 

Spark Cash for Business from Capital One

We’ve included two cards from Capital One as well, one for fans of cash back rewards and one for fans of travel rewards. 

Sign Up Bonus: You get a $500 cash back bonus after spending $4,500 in the first three months.

Rewards: This card is very straightforward. You get 2% cash back on all purchases - no categories to keep track of! 

Fees: This card has an annual fee of $59, but that is waived for the first year. There is no foreign transaction fee, and there is a variable APR starting at 17.24%.

Credit Score: You need a score of “Excellent” for this card, a score above 750.

 

Spark Miles Select from Capital One

Sign Up Bonus: You get 20,000 bonus miles after spending $3,000 in the first three months. This is equal to $200 in travel credits.

Rewards: This is a travel rewards card, but you don’t have to worry about travel partners or transferring points. You can use points toward a statement credit to pay for travel on any airline and stays at any hotel. You get 1.5 miles for each $1 spent on anything, no categories. 

Fees: This card has no annual fee and no foreign transaction fees. There is a 0% APR until February 2017. After the introductory period, there is a variable APR of 13.24-21.24%.

Credit Score: You need a score of “Excellent” for this card, a score above 750.

 

SimplyCash Plus Business Credit Card from American Express

Sign Up Bonus: You get a $250 statement credit after spending $5,000 on qualifying purchases in the first six months. 

Rewards: You get 5% cash back on wireless phone service purchases from US providers and US office supply stores up to $50,000 then an unlimited 1% cash back. You get 3% cash back on one of eight categories: airfare purchased directly from the airline (not a third party seller like Expedia or Travelocity), hotel stays, car rentals from select providers, gas station purchases, restaurants, shipping expenses, advertising expenses, or computer hardware and software purchases, up to $50,000 than an unlimited 1% cash back.

Fees: This card has no annual fee but a foreign transaction fee of 2.7%. There is a 0% APR for the first nine months. After the introductory period, there is a variable APR of 12.49%, 17.49%, or 19.49%.

Credit Score: You need a score of “Good” for this card, a score above 700.

 

Cash Rewards for Business MasterCard

Sign Up Bonus: You get a $100 statement credit after spending just $500 in the first 60 days. 

Rewards: You get 3% cash back on gas station purchases and office supply stores up to $250,000 per year, then 1% cash back on those categories. You get 2% back on restaurants, and 1% cash back on all other purchases. 

You can redeem your rewards for statement credits or for cash deposits into your Bank of America small business checking or savings account. 

Fees: This card has no annual fee but a 3% foreign transaction fee. There is a 0% APR for the first nine billing cycles, and then a variable APR between 11.49-21.49%.

Credit Score: You need a score of “Good” for this card, a score above 700.

 

US Bank Business Edge Cash Rewards World Elite MasterCard

Sign Up Bonus: You get a $150 bonus after spending just $500 in the first 90 days. Additionally, each year you will receive a 25% Annual Cash Reward bonus up to $250.

Rewards: You get 3% cash back on cell phone, gas station, and office supply store purchases with no cap! You get 1% cash back on all other purchases with no cap. You can redeem for statement credits or have the cash deposited into your US Bank bank account. 

Fees: This card has no annual fee but a foreign transaction fee of 2%. There is a 0% APR for the first nine billing cycles, and then a variable APR between 12.24-18.24%.

Credit Score: You need a score of “Good” for this card, a score above 700.

 

CitiBusiness/AAdvantage Platinum Select World MasterCard

Sign Up Bonus: You get 30,000 miles after spending $1,000 in the first three months. 

Rewards: This is an airline rewards card. You get 2 miles per $1 spent with American Airlines and 2 miles per $1 spent on telecommunication expenses, at gas stations, and at car rental companies. Also, your first checked bag is free for yourself and up to four other people travelling with you under the same reservation. You will be granted priority boarding on American Airlines flights. 

Fees: There is an annual fee of $95, but that is waived the first year. There is no foreign transaction fee. The APR is a variable 15.49-29.99%.

Credit Score: You need a score of “Good” for this card, a score above 700.

 

What’s the Verdict?

The Chase Ink cards are our two stand-outs for the best business credit cards. Between the two of them, they offer something for everyone. If you don’t travel a lot for business, the Chase Ink Business Cash card is great. It gives a hefty 5% cash back on categories that businesses actually spend money on - office supplies, phone and internet. The card also comes with a nice sign up bonus. It does have a foreign transaction fee, but there is no annual fee.

If you do travel a lot, the Chase Ink Plus Business Card is perfect for you. You earn 5 points per $1 on things you spend money on as a business owner, which enables you to earn rewards fast. The card has one of the best sign up bonuses around at the moment. It does have an annual fee, but there is no foreign transaction fee, making it a good card to travel abroad with. 

Running a business comes with a lot of expenses, but the right credit card can help you save a little money whether it’s through cash back or travel rewards. Happy earning!

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