Small Business Credit Cards
If you're running a small business, you can benefit from using a small business credit card. Responsible usage of this type of card can build a positive credit report that can help your business qualify for other lines of credit or loans. On the other hand, irresponsible use can negatively impact your business's credit report. Read on for tips on how to responsibly use small business credit cards. You'll have a better idea of which cards are best for your business once you've read this article.
Capital One Spark Plus
The Capital One Spark Plus Small Business Credit Card offers a variety of rewards for the business owner. This card offers 2% cash back on all eligible purchases, with no category restrictions. Earning rewards will not expire, and there's no minimum redemption amount. The Spark Cash Plus is a great choice for businesses that tend to spend a lot of money each month. Its no annual fee and 2% cash back on all purchases make it an ideal small business credit card.
The Capital One Spark 1% Classic Business Card also helps establish good spending habits for business owners. To avoid being charged high APR, you should plan a monthly spending budget. By doing so, you'll be able to build your credit over time. In the future, you'll be able to benefit from better rewards. The 2% cash back credit card is a great option for building a business' credit.
As with any credit card, the Capital One Spark Cash Plus Card rewards business owners for spending responsibly and making full payments every month. The downsides to this card include a 2.99% monthly penalty for late payments. However, it's worth remembering that you can still earn unlimited 2% cash back on all purchases with this card. The rewards are fixed, so you don't have to keep track of which categories are generating the most profit. If you pay off your balance in full each month, you'll get an annual $200 bonus on all purchases.
As the name suggests, this card offers rewards for businesses with good to excellent credit. You'll get unlimited 2% cash back on all purchases, and you'll get $200 in bonus points after spending $200,000 on the card. If you're a small business owner with moderate spending habits, you may want to consider the Capital One Spark Plus Small Business Credit Card, which has no annual fee. This card is an excellent choice for those with good to excellent credit.
Capital One Spark Classic: Designed for those with good to fair credit, the Capital One Spark Classic Small Business Credit Card provides rewards with no annual fee and no minimum redemption. This card also offers perks for those with fair to poor credit, but earns cash back on purchases. There is no annual fee, so it's an excellent option for those who are working on their credit. This card is not recommended for business owners with excellent credit.
American Express Blue Business Cash
The American Express Blue Business Cash(tm) Card is a great small business credit card for those who want straight cash back. The rewards structure is simple and automatic, and the cash back rate is 2% on all purchases up to $50,000 per year. It also allows spending in excess of your credit limit. Regardless of the category you're in, you'll receive a certain percentage of cash back based on your usage, payment history, and financial resources.
While the Blue Business Cash has no frills, the Ink Business Cash offers a more complex rewards system. It has category redemptions that are less clear-cut than Blue Business Cash, but both cards offer cash back on certain purchases. The Ink Business Cash gives you 2% back on restaurants and gas stations, while the Blue offers 1% back on purchases of up to $10,000 per year. However, while both cards offer cash back, the Chase Ink Business Cash offers a broader set of rewards.
The Amex Blue Business Cash is one of the best small business credit cards on the market today. It offers high value rewards at a low rate of maintenance. The Blue Business Cash card has a two percent cash back cap, but you can spend up to $50,000 on the card without paying an overlimit fee. This card is great for those with large expenses, but it may not be the best choice for all of them.
The American Express Blue Business Cash Card has no annual fee and a 0% introductory APR period. If you spend $1,000 or more within three months, you'll earn a $250 statement credit. That's not the best reward among small business credit cards, but it's still pretty nice. With a $0 annual fee and no annual fee, the American Express Blue Business Cash card may be the perfect small business credit card for you.
The American Express Blue Business Cash Card earns 2% cash back on purchases for businesses up to $50,000 per year. After the $50,000 cap, you'll earn 1% cash back on all your purchases. If you're a small business owner looking for a low-cost credit card with a great rewards system, this card may be right for you. It also has no annual fee and no overlimit fees.
Divvy Business Card
If you run a small business, you may be wondering if the Divvy Business Card is right for you. This card is issued by a company called Divvy, which also provides business management software. It features no annual fees, no minimum credit score requirement, and no monthly fees. You can also earn up to seven times the points you spend on eligible purchases, depending on the category and payment frequency. Another plus of this card is the budgeting features, which allow you to allocate a specific amount of credit to each employee.
The Divvy Business Card features no annual fee, and its rewards program offers the highest percentage of rewards for your spending. The Divvy interface allows you to send and receive cash, and also offers a credit line that is flexible. You can also use the Divvy Credit Builder program to establish a secured line of credit for your business. By making on time and making minimum payments, you will build up your business credit and potentially qualify for an unsecured line of credit in the future. In addition, you can set the credit limit on each card to fit your needs, and Divvy's accounting software makes tracking expenses much easier.
One advantage of the Divvy Business Card is that it does not require a co-signer or personal guarantee. Because Divvy does not perform a hard credit check on the business owner, they have more leeway in granting credit. Moreover, you won't have to worry about your credit history since the company performs a soft inquiry. This means that there is no negative impact on your credit score.
Divvy is an ideal choice for small businesses looking to make the most of their available credit lines. Besides the Visa-issued card, the Divvy Business Card also offers an integrated expense management software. You can issue multiple cards to your employees and set strict spending limits per card. This way, you can monitor your business's payment behavior and make adjustments as needed. This way, you can keep your business running smoothly.
Ink Business Cash
While you can earn a higher cash back rate on other cards, the Ink Business Cash has a limited number of bonus categories. However, the card does provide a high cash back rate at office supply stores, restaurants, gas stations, and telecommunications services. While the sign-up bonus is attractive, you should be prepared to spend a significant amount of money to receive your reward. That said, if you're a new business, the cash back will definitely help your bottom line.
The Chase Ink Business Cash is a good choice for office-based businesses because it has no annual fee and provides 5% cash back on telecom and office supplies. Additionally, you can get a bonus of $750 if you spend $7,500 within the first three months. And it has 0% interest for the first year, so you don't need to worry about paying high interest rates. There are no revolving fees, so you can use the card without worrying about it.
The Ink Business Cash is a good option for small businesses with certain expenses. While you can get 5% back on up to $25,000 in purchases, you have to use the card responsibly. The card's bonus categories have a limit of $25,000 per year, so it's worth using several rewards cards to supplement the cash back. Nonetheless, the Ink Business Cash card offers $1250 in cash back each year, which is a decent return.
Ink Business Cash is one of the few cards that don't charge an annual fee. Many new business owners, especially those with low expenses, will find it advantageous to choose this credit card over a card with an annual fee. Although it does come with a 5% foreign transaction fee and a 3% balance transfer fee, it may be worth considering if you plan on carrying a card for business purposes.
Besides having a lower interest rate, the Ink Business Cash is also flexible when it comes to rewards. You can also earn rewards on purchases made by employees or partners, as long as the cardholder has the same privileges as the primary card. In addition, you can track your spending in real time with the Chase Ink App, change authorized cardholder spending limits, and analyze spending trends over time. You can also sign up for free real-time alerts to get location and transaction information from your business card.