But with all the options available, it can be challenging to choose the right card for your business. Is it better to go with travel rewards, or would you prefer a cashback credit card? Should you focus on the annual fee? The interest rate? This list breaks down some of the best small business credit cards to help you find the right card for your business, no matter your needs.
As far as ongoing rewards, this card offers 2% cashback on eligible purchases up to $50,000 each year. Once you exceed $50,000, you’ll earn 1% cashback on the rest of your purchases for the year. When you earn cashback, it’s automatically applied as a statement credit.
Pros:
Generous welcome bonus and cashback rewards0% introductory APR on purchases for 12 months Expanded buying power to spend above your credit limit
Cons:
$50,000 yearly spending cap on 2% cashbackForeign transaction fees
The Ink Business Cash offers ongoing 5% cashback on the first $25,000 you spend on office supplies, internet, cable, and phone services. You’ll also earn 2% cashback on the first $25,000 you spend at gas stations and restaurants. Finally, you’ll earn 1% cashback on all other purchases.
Pros:
Generous new cardmember offer0% introductory APR for the first 12 monthsHigh cashback on office supplies and telecommunications
Cons:
$25,000 spending cap on bonus categoriesLow rewards on all other spendingForeign transaction fees
As for ongoing rewards, the Spark Cash Plus offers 2% cashback on all of your purchases, without spending limits or category restrictions. You’ll also earn a $200 annual cash bonus each year that you spend $200,000 or more. One unique feature about the Spark Cash Plus card is that it’s a pay-in-full card, meaning you can’t carry a balance. Capital One requires that you pay the card off each month or be charged a 2.99% monthly late fee. As a result, this card may not be well suited to small businesses that want to use a credit card to finance a larger purchase over a longer period.
Pros:
High welcome bonus and annual spending bonusGenerous flat-rate rewardsNo foreign transaction fees
Cons:
Annual feeMust be paid in full each monthRequires excellent credit
As far as online rewards, the card offers 5X points on flights and prepaid hotels that you book through AmexTravel.com. You’ll also get 1.5X points on eligible purchases of $5,000 or more (cap applies) and 1X points on all other purchases throughout the year.
Pros:
Lots of premium travel perksHigher rewards points on travel and large purchasesLarge 120,000 point welcome bonus
Cons:
Annual feeLimited rewards on everyday spendingCan’t carry a balance on smaller purchasesNo 0% introductory APR
The Ink Business Preferred offers 3X points per dollar on the first $150,000 you spend each year on shipping, social media and search engine advertising, internet, cable, phone, and travel. You’ll also earn 1X points per dollar on all other spending, as well as spending in the bonus categories above $150,000.
Pros:
High new cardmember bonusFlexible reward redemption High rewards in bonus categories
Cons:
Annual feeNo 0% introductory APRSpending cap on rewards bonus categories
The benefit of the Business Gold Card is that it offers 4X points per dollar in two bonus categories, but the bonus categories are entirely dependent on your spending. The categories that will earn the 4X points per dollar are those that you spend the most money in, and the 4X reward only works up to $150,000 total each calendar year. After that, you’ll earn 1X point for every dollar in those categories. For all other spending categories, you’ll earn 1X point per dollar.
Pros:
High rewards in your highest spending categoriesExtra travel perksNo foreign transaction fees (see rates & fees)
Cons:
Annual feeNo 0% introductory APRCan’t carry a balance on smaller purchases
Ultimately, our goal was to find the credit cards that best reward business owners for their spending, while including more premium cards with other perks that business owners will appreciate. It’s also important to consider other perks and features that are important to you. For example, some business credit cards offer many travel perks and make it easy to redeem your credit card rewards for travel. Those cards are well-suited to businesses that spend a lot on travel expenses. Finally, it’s important to consider characteristics such as annual fees, interest rates, and credit requirements. If you’re considering many different cards at once, those features may help you make your final decision.
Chase Ink Business Unlimited® Credit CardThe Blue Business® Plus Credit Card from American ExpressCapital One Spark Miles for BusinessBank of America® Business Advantage Travel Rewards World Mastercard® credit cardThe Plum Card® from American Express
