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Best Small Business Credit Cards

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Whether you run an established small business or work as a freelancer, it is vital to keep your personal and business finances separate. It can quickly get muddy when you charge your monthly business expenses and drinks with friends to the same credit card.

A business credit card can make your life easier, particularly when you need to file your taxes and could even save you thousands each year. So, here we’ve compiled a list of the best credit cards for small business.

1. Capital One Spark Cash for Business

If you want a straightforward way to enjoy cashback on your business spending with no tiered systems or complicated terms, then the Spark Cash for Business could be the solution. From paying your employee phone bills to purchasing office supplies, you can earn 2 percent cash back on every purchase.

Capital One also offers a $500 bonus if you spend $4,500 during the first three months. You will also enjoy a $0 annual fee introduction rate for the first year before it increases to $95 per year.

Capital One also provides free employee cards, quarterly and year-end summaries with itemized reports, and no foreign transaction fees. Other bonuses of the Spark Cash for Business include emergency and travel assistance services, extended warranty protection, and auto rental collision damage coverage.

The Spark Cash for Business offers a rewards program with no caps, sign ups, expiration dates, or rotating categories. However, if you spend less than a thousand dollars a month, you may be better suited to a card that doesn’t have an annual fee. While there is the potential to earn more cashback if you tend to spend in one particular category, typically, these cards only offer 1 percent on categories outside these categories. Additionally, these types of cards typically have a spending cap. The Spark Cash for Business card offers double the baseline 1 percent on every purchase with no need to worry about categories and spending caps. This simplifies your spending to keep everything simple.

Highlights:

  • 2% cashback on every purchase
  • $500 signup bonus
  • $95 annual fee (waived for the first year)
  • No foreign transaction fees

Compare This Card to Other Business Credit Cards

2. Capital One Spark Cash Select for Business

Like the Cash for Business card above, the Capital One Spark Cash Select for Business offers fantastic simplicity. The benefits are easy to understand, making it simple to take full advantage of the offers. If you don’t do a great deal of traveling, this card can provide a valuable addition to your business finance package.

Although there isn’t a fantastically lucrative intro offer, there is the potential to save hundreds or thousands of dollars. You can enjoy 0 percent on all your purchases during the first nine months, before the rate increases to 15.24 to 23.24 percent variable. There is also a $200 bonus if you spend $3,000 in the first three months.

This isn’t as attractive as the Spark Cash for Business, as you receive 1.5 percent cashback, but there is no annual fee. So you don’t need to worry about offsetting an annual fee with your cashback.

You can also request additional cards if you have employees with the authority to purchase on the company credit card with no charge. This means that multiple people can be racking up rewards.

The Spark Cash Select for Business also offers quarterly and year-end summaries, no foreign transaction fees, and free fraud protection. You can also enjoy Visa Business Benefits including travel and emergency assistance, purchase security, extended protection, and auto rental collision damage waiver.

This card is fantastic for new business owners who don’t frequently travel and would prefer a card with no annual fee. You’ll be saving at least $95 per year, and the introductory bonus is easily attainable. Additionally, there is no limit on cashback earnings.

Highlights:

  • 1.5% cashback on every purchase
  • $200 signup bonus
  • No annual fee
  • No foreign transaction fees

Compare This Card to Other Business Credit Cards

3. Capital One Spark Miles Select for Business

This is the perfect card for small business owners who occasionally travel, but also want to keep budget in mind. The Spark Miles Select for Business might not be as well-known as other business cards on the market, but if you have a modest monthly budget, this card is an attractive proposition. Unlike many cards, which require thousands of dollars spend to earn rewards or balance the annual fee, there are some distinct perks to the Spark Miles Select for Business.

You can earn 1.5 miles for every dollar, with a 20,000-mile bonus if you spend an average of $1,000 a month for the first three months. This translates into approximately $200 of travel credit, with no seat restrictions or blackout dates. You can even enjoy free employee cards if needed.

Capital One also offers an introductory rate of 0 percent for the first nine months, travel and emergency assistance, no foreign transaction fees, extended warranty protection, purchase security, and auto rental damage waiver.

The Spark Miles Select for Business is one of the few business travel reward cards with no annual fee. So, you don’t need to offset your rewards against $95 or more per year. Additionally, your bonus miles and rewards don’t expire, and you’re not limited to certain companies. When you do travel, you will have access to the Visa Business Benefits package for complete protection.

Highlights:

  • 1.5 miles for every dollar spent
  • $200 worth of travel as a signup bonus (20,000 miles)
  • No annual fee

Compare This Card to Other Business Credit Cards

4. Chase Ink Business Preferred

The Chase Ink Business Preferred card is a popular choice for good reason. While there is a $95 annual fee, the signup bonus quickly makes up for this modest expense. There are also impressive redemption offers and quick point earning potential. All of these elements can help small business owners enjoy serious savings.

When you spend $5,000 in the first three months of account opening, you’ll receive an 80,000 point bonus, which is worth $1,000 in travel or $800 cash. This is in addition to the 3 points for each dollar spent on travel and selected purchases and 1 point for every dollar on everything else.

You can redeem your points towards hotels, cruises, car rental, and airfares or exchange them for cash transfers or gift cards. You can also transfer your points to participating travel programs with a full one-to-one value. This means that one Ultimate Rewards point offers one partner mile or point.

The Chase Ink Business Preferred offers a great package for the modest annual fee. There is cell phone insurance for your primary phone number and any employee numbers on the same account. Additionally, there are some fantastic business categories that can be beneficial for small business owners, including social media advertising and search engine marketing with a cap of $150,000 annually. However, if the bonus categories don’t fit your business needs, or you’re likely to spend more than the annual $150k threshold, you may prefer a card offering maximum cashback. After the cap, you’ll earn only one point per dollar.

Highlights:

  • 3 points per dollar spent on travel and select purchases
  • 1 point per dollar on all other purchases
  • 80,000 point signup bonus (worth $1,000 in travel or $800 in cash)
  • $95 annual fee

Compare This Card to Other Business Credit Cards

5. Chase Ink Business Cash

If you’re a small business owner who is looking for great rewards for actual business spending, with flexible rewards, no annual fee, and a low APR, then the Chase Ink Business Cash could be just what you’re looking for. New card owners can enjoy 0 percent APR on purchases during the first 12 months, and bonus cashback offers. If you spend $3,000 in the first three months, you’ll receive a $500 cashback bonus.

The Chase Ink Business Cash card offers flexible rewards tracked as points. There is 5 percent cashback on your first $25,000 spent per year in combined purchases of office supplies, and phone and television services. There is also 2 percent cash back on restaurants and gas station purchases up to a $25,000 cap and 1 percent on all other purchases.

Once you reach 2,000 points, they can be redeemed for statement credit or electronic deposit to checking or savings accounts. You can also redeem your points for travel and gift cards, but these redemptions are at a rate of one point per penny. So each 100 points is worth $1. Additionally, there is no expiration on your points, and you can have employee cards at no extra charge.

The Chase Ink Business Cash card can also be managed through the Ink Mobile App, so you can receive instant purchase alerts and avoid unpleasant surprises. This allows you to manage employee spending, which will help you to stay on top of all your business expenses. After the first 12 months, the rate increases to 15.49 to 21.49 percent variable. So, it is important to properly manage your account and pay off the card each month, or your rewards will be quickly absorbed by the interest charges.

Highlights:

  • 2% cashback at restaurants and gas stations (capped)
  • 5% cashback for office supplies, phone, and TV (capped)
  • 1% cashback on all other purchases
  • $500 signup bonus
  • No annual fee

Compare This Card to Other Business Credit Cards

6. American Express Business Gold Card

The Business Gold Card from American Express is a high rewards charge card that is geared towards small business. There are generous perks and Membership Rewards points. You can receive 4 points on two select categories with a $150k cap. This does mean that you need to choose your categories where your business will spend the most every month. You can also enjoy 25% points back after you use points for part or all of an eligible flight booked through Amex Travel, up to a limit of 250,000 points per calendar year.

There is also an introductory offer, where new cardholders can receive $500 in statement credits with qualifying FedEx purchases during the first three months of membership.

You can redeem your points with over 500 brands or gift cards, and while the $295 annual fee is higher than many business credit cards, this is offset by the fantastic rewards package.

The Business Gold Card does differ from a conventional credit card. American Express offers a “No pre-set spending limit,” but this doesn’t mean that you have unlimited spending power. Instead, the card adjusts your limit according to your credit record, financial resources, and payment history. This means that you shouldn’t be tempted to roll over balances, accumulating interest.

The Business Gold Card is ideal for your business-related purchases, particularly travel and shipping, but the card is geared towards small businesses that routinely make large purchases. Since this is a charge card, there are no interest charges, but you will need to plan for each building cycle. Other perks include no foreign transaction fees.

Highlights:

  • Earn more points on purchases in your choice of categories
  • $500 bonus (statement credit)
  • No foreign transaction fees
  • $295 annual fee

Compare This Card to Other Business Credit Cards

7. Capital One Spark Miles for Business

The Spark Miles for Business may not have all the perks of other business cards, but the simple rewards program is an ideal fit for many small business owners. The enticing welcome bonus allows you to earn 50,000 miles if you spend $4,500 in the first three months. There is also unlimited 2x rewards, and the miles don’t expire.

The Spark Miles for Business also has an introductory $0 annual fee, which allows you to try out all the features and perks before the $95 annual fee kicks in. Given the easy redemption options and rewards earnings, it should be very simple to offset this fee from the second year onwards.

The most attractive feature of this card is the flexible rewards program. You can log into your account to make travel plans using your points, or you can be reimbursed for previous travel purchases. The additional features include quarterly and year-end summaries, a mobile app to manage your purchases, downloadable purchase records, free employee cards, roadside dispatch, purchase protection, no foreign transaction fees, lost luggage reimbursement and car rental insurance. You’ll also find that there are no airline or seat restrictions or blackout dates to worry about when redeeming your points. However, if you spend less than a thousand dollars a month, may be better suited to a card with no annual fee.

This card allows small business owners to keep costs under control. You can monitor your business expenses without needing to hold an accounting degree. It is simple to make the most of the flexible redemption program, and the introductory bonus is very generous.

Highlights:

  • Earn 2 miles for every dollar spent
  • 50,000-mile bonus (worth $500 in travel)
  • $95 annual fee

Compare This Card to Other Business Credit Cards

8. American Express SimplyCash Plus Business Credit Card

The SimplyCash Plus Business from American Express has been designed to cater to small businesses. The American Express OPEN and the OPEN forum offers tips, tricks, and advice for entrepreneurs. This provides access to Receipt Match, which allows you to upload your business receipts and track transactions. There is also OPEN Savings, providing additional membership rewards for every dollar you spend.

This card allows a small business owner to get money back for every dollar spent, with a varying level of reward based on the specific category. New cardholders can also enjoy 0 percent on purchases for the first 15 months and no annual fee.

The reward structure is tiered, with 5 percent cash back on U.S office supply store purchases and wireless phone services that are purchased directly from a U.S provider, with a cap of $50,000 per year. There is 3 percent cash back on your chosen category from a list of eight options for the first $50,000 and 1 percent cash back on all your other purchases. This allows you to tailor your rewards according to your business spending.

Another benefit is that there is no annual fee, but if you do take business trips overseas, be aware there are foreign transaction fees.

The SimplyCash Plus Business Credit Card holders have the flexibility to select their choice of category within two months of membership. Category options include hotel stays, selected company car rental, airfares, restaurants, gas station purchases, and software and cloud computing.

One of the best features of this card is that you can spend above your credit limit and still get cashback on your purchases. There are no over-limit fees, but you will need to pay the amount above your credit limit each month in full. In fact, American Express will adjust the amount of your credit limit based on your payment history, credit record, and card use.

Highlights:

  • 5% cashback on U.S. office supply store purchases and wireless phone services
  • 3% cashback on your choice of categories
  • 1% cashback on all other purchases
  • No annual fee

 

The right card can be a boon for small business owners. However, the best credit cards for small business offer rewards that work with your spending habits. Be sure to take the time to consider your business honestly, so you can choose a card that will offer you the best rewards for your business spending. You will need to think about the bulk of your business spending, whether your spending will be sufficient to offset an annual fee and whether you prefer points, travel rewards, or cash.

The right small business credit card will offer plenty of benefits, perks, and options that will provide rewards for your typical business spending. It will also allow you to separate your business and personal spending to make it easier to monitor your transactions and simplify your accounting. Just be sure to choose a card that offers maximum benefits for your usual business spending. There is no point in choosing a card that requires you to change your spending patterns, or you will not be able to harness the reward potential.

Best Small Business Credit Cards

The Best Credit Cards for Small Businesses (2019). Maximize your cash back and/or travel rewards by using one of the best business credit cards. If you\'re a freelancer or business owner you can use a business credit card to keep your business and personal expenseses separate. Check out this list for top cashback, signup bonuses, low annual fees, special perks and offers, and more. #creditcards #smallbusiness #credit #finance #personalfinance #money