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Best Business Credit Cards
One of the ways that you can ease potential cash flow issues in your business is to get a business credit card. A business credit card provides you with a way to free up some of your capital for payroll and other needs.
Additionally, your business credit card is one of the fastest ways for your business to build credit as a separate entity. Your business needs its own credit profile if you want a better chance at being approved for business loans later on. The right business credit card can help you earn rewards for your business, better manage cash flow, and establish credit. Here are some of the best business credit cards:
Ink by Chase
If you are looking for a solid rewards card, the Ink by Chase is a good option. There are two versions, one that offers cash back, and one that offers rewards. The rewards program is quite generous, offering 5% on telecom/cable services and office supplies. You can put your telecom bills on your Ink card, and reap the benefits. There are 2% categories (that come with rewards caps), and 1% unlimited cash back on regular purchases.
Ink comes with a great signup bonus of $250, as well as six months no interest. On top of that there is no annual fee, and employee cards are free. This is an all-around good rewards card with business friendly terms.
SimplyCash Business from American Express OPEN
American Express has been trying to make its OPEN network the place for small business. SimplyCash card doesn’t have a big signup bonus, but it does offer a good cash back program. Your business can get 5% back on office supplies, and wireless services. There is 3% cash back on gas purchases, and 1% on everything else. There are no rewards caps. On top of that, you receive discounts when you purchases with business partners like FedEx, Hertz, OfficeMax and others. There is no annual fee, and your business credit determines the length of your 0% introductory rate.
Capital One Spark Miles
If you are interested in a travel rewards business card, the Capital One Spark Miles can be a good choice. One of the big advantages to the Spark Miles card is that there are no foreign transaction fees. If you travel internationally, you can save quite a bit. Instead of offering cash back, this business credit card awards two No Hassle Miles for each dollar spent. There is a signup bonus of 10,000 Miles. Redemption is easy; you can apply miles to any travel transaction on your statement. There is a $59 annual fee (waived for the first year). It can be worth the fee if you use card enough to rack up the rewards.
Citi offers a pretty good rewards program. It’s not a cash back card, but the CitiBusiness ThankYou allows you to add up rewards points at a rapid pace. A 15,000 signup bonus comes with the card. There are rotating categories in which you earn three points for each dollar you spend. Citi also gives an anniversary bonus each year. If you use this business credit card, double check the categories so that you maximize your rewards each quarter. There is a 0% intro rate for six months, and no annual fee.