There’s a small business credit card for everyone, whether you spend on office furniture, gas, Internet or travel. These cards are also helpful in giving you that extra capital boost you need to get your enterprise up and running. Many business credit cards offer lower APRs and flexible payment plans, allowing you better access to funds. Choosing the right card, though, can be a hassle. Just answer a few questions on the left and leave the card selection to us, so you can get back to running your business.
Small business credit cards are an essential tool for any owner looking to hedge expenses. Whether you seek corporate lounge access or simply low-interest financing, we’ll help you choose the right card to supplement your business. Not every card is right for every business. Which you choose is contingent on your needs and expenditures. A business with travel-intensive itineraries will require something vastly different from a company that deals primarily with the local community. We’ll sort the top small business credit cards into a few distinct categories that should help you determine which direction to go.
Best corporate rewards cards
Business owners not currently in need of credit card financing may want to considering earning dividends on recurring expenditures with a business rewards card. Some corporate rewards cards emphasize earning on travel expenses, while other promise perks for office supplies and cable services.
Best overall rewards card: the Chase Ink
The Ink by Chase has a lot to offer, from a crazy-high signup bonus to ongoing rewards to a full year of no interest. For starters, the signing bonus is worth $250. The Ink charges no annual fee and earns rewards in 5% bonus categories. The card comes in two varieties: the Ink Cash and the Ink Classic. The Cash earns cash (duh), and the Classic earns Ultimate Rewards Points. Points are easy to redeem and can be traded for gift cards, so they will be nearly as valuable as cash for most people. Both cards earn 5% on office supplies and cable/telecom services ($25,000 yearly maximum). The Ink Classic earns 2% on gas and lodging, while the Cash earns 2% on gas and dining (again, a $25,000 maximum). Both offer an unlimited 1% on all other purchases. You will qualify for the $250 signing bonus when you spend $5k within the first 3 months. Additionally, they grant a 0% APR for 12 months, ideal if you need to make some purchases that will take a little time to pay down. If you don’t like fees, don’t like interest, but DO like rewards, the Chase Ink is an affordable and highly rewarding option for entrepreneurs.
Best card for hotel guests: the Starwood American Express
Need to travel? Lodging can be expensive, especially if you like to sleep in style. The Starwood American Express Business card offers one of the highest hotel rewards rates we’ve come across. It may not seem impressive at a point earned per dollar spent, but we value Starpoints up to 5 cents apiece, averaging in at 2.3 cents each. At 2.3%, that’s a rewards rate you’ll be hard-pressed to beat. The card pays up to 5 points per dollar at SPG hotels and dishes out a 25,000-point signing bonus (worth about $575). The $65 annual fee is waived the first year.
In addition to the phenomenal rewards, the Starwood AmEx comes armed with an impressive suite of perks. These include auto rental insurance, automatic Gold status if you spend $30k annually and a 5-night elite status credit. This is a perfect card for frequent hotel-goers (and even frequent flyers). The only drawback is the 2.7% foreign transaction fee. International travelers might want to consider a fee-free option. But for domestic trips, the Starwood is your card.
Best general travel card: Capital One Spark Miles
If you want the versatility to stay at any hotel or fly on any airline and earn rewards in the process, the Capital One Spark Miles (formerly the Venture Rewards Business) allows rewards redemption for any travel expense. Capital One’s No Hassle Miles, which build at a flat 2% rate on all purchases, can be used to pay anything from lodging to gas to airline fees. For example, if you spend $213.82 on a plane ticket, airline change fees and hotel room service, you can use 21,382 miles to clear the charges from your statement. The $59 annual fee is waived the first year and well worth the expense. The Capital One Spark Miles has a signup bonus of 10,000 Capital One No Hassle Miles when you spend $1,000 in the first 3 months.
Best corporate charge cards
Unlike credit cards, charge cards have to paid in full each and every month. You won’t have to worry about preset spending limits, but carrying a month-to-month balance will result in sky-high fees and interest rates. But if you feel comfortable committing to paying off monthly charges, you’ll be handsomely rewarded. Our top two picks in this category deliver perks and rewards valued at hundreds–if not thousands–of dollars.
Best for corporate travelers: the AmEx Business Platinum
The American Express Business Platinum is the king of corporate cachet, and for good reason. The fringe be. Among the highlights:
Concierge service
A $200 credit to offset airline incidentals
Premium card rentals with Avs, Hertz and National
Airport club access with American, Delta and US Airways
Free hotel upgrades and benefits worth up to $450 per stay
Access to over 1,000 airport lounges worldwide
A complimentary companion ticket when you purchase a business or first class international ticket on partner airlines
Together, these perks easily offset the $450 annual fee. Airline incidental credits and lounge access alone wipe it out and some. Plus, there’s no foreign transaction fee, so you need not worry about that pesky 3% other cards charge you on international purchases.
Best signup bonus: the Chase Ink Bold
The Chase Ink Bold, unlike the Ink Cash and Classic, is a charge card and bears a number of considerable differences from its brothers. The Ink Bold comes with an enormous $625 singup bonus, no foreign transaction fee, and high reward caps ($50,000 in purchases as opposed to the $25,000 of the Cash and Classic). The annual fee is $95 and is waived the first year. It’s worth mentioning that points redeemed for Ultimate Rewards Travel are worth 25% more. That’s why the 50,000-point signing bonus has such a high value. It’s a great card for earning on office supplies and services as well as travel expenditures.
Best corporate low interest business cards
Using a credit card to finance a business requires another kind of beast entirely. Rather than looking at rewards, you’ll want to look at interest rates. The best zero interest cards will result in up to an entire year without APR. Credit unions often provide the lowest ongoing interest rates, so you may want to visit one in your local area. Here are our favorite cards for shirking interest payments
Longest zero interest period: American Express SimplyCash
The advantage of the American Express SimplyCash is two-fold. It has a solid rewards program, and it offers one of the longest intro APRs you’ll find. You’ll pay no interest on purchases for a full 12 months. After that, the minimum ongoing APR is a more-than-reasonable 12.24%. You’ll earn cash rewards at 5% on wireless services and office supplies (capped at $12k spent annually per category). Gas station purchases earn 3%. Everything else is eligible for an unlimited 1%. You will pay no annual fee. The only downside is the lack of signing bonus, which is why we don’t recommend it above the Chase Ink Cash and Classic. But for assistance in financing and earning juicy ongoing rewards, the SimplyCash provides a smart balance.
Lowest interest rates: BofA Platinum Plus
Low ongoing APRs can oft be found at local credit unions. Just remember, many don’t offer business lending services. If you’d like a low ongoing APR to carry you far into the future, the Bank of America Platinum Plus has a minimum APR of 9.24%. You only want to choose the BofA card over the SimplyCash if you’re looking a very long way down the road. Taking into consideration the SimplyCash’s intro APR, the Platinum only offers the better deal after 4 years. The Platinum is more suited for businesses that are already off the ground rather than those just taking off.
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