Do you run a small scale business and you are in need of a business credit card?
This article is here to help you figure out the best small business credit cards of the year 2022. Whether you are running a small scale business or a large scale business, the need to have access to credits can't be overemphasized.
This guide will break down the top business credit cards available and how to maximize the benefits. There are well over twenty business credit card good enough for small scale businesses but we've picked a few of our favorites.
As a business owner, it is very important to separate your personal expense from your business expense. This is a major reason why you have to seek credit cards that will be useful for the sole aim of aiding your business finances.
Are you a sole proprietor? Or a freelancer? No matter the kind of business you run, you have to keep your business purchases separate. This is a major reason why you need a business credit card.
Business credit cards have a higher spending limit as compared to personal credit cards. There are several business credit cards with a lot of benefits that is useful for small businesses and they are very important because it can help you save hundreds to thousands of dollars within a year.
Now, let's have a look…
· Capital One Spark Miles for Business
· American Express Blue Business Cash Card
· Chase Ink Business Preferred Credit Card
· Brex Corporate Card for Startups
· Alaska Airlines Visa Business Credit Card
· Chase Ink Business Cash Credit Card
· The Plum Card from American Express
· American Express Business Gold Card
Capital One Spark Cash for Business offers unlimited 2% cash back on all purchases. This business credit card is cash based and has a good early spend bonus worth up to the value of $500.
You have to spend at least $4,500 on eligible purchases within the first 3 months of opening the Capital One Spark Cash account. This ensures you get to enjoy the early spend bonus. There is no introductory APR for this credit card.
Major Benefits and Rewards of Capital One Spark Cash for Business :
· This is best for business cash back as it offers purchase protection.
· There is no cap or restrictions on purchases.
· It charges $0 foreign transaction fee.
· Accumulated cash back can be redeemed in any general statement credits and any value in checks.
Annual Fee: It charges $95 annual fee but the fee is waived in the first year.
American Express Blue Business Card offers rewards in cash instead of points.
The American Express Blue Business Card offers 0% Introductory APR on purchases and transfers for 1 year. It also offers 2% cash back reward on the first $50,000 purchase each year and 1% cash back reward on subsequent purchases.
It charges $39 on late payments and also 2.7% cost on foreign transactions.
Major Benefits and Rewards of American Express Blue Business Cash Card :
· It charges $0 annually.
· It offers solid cash rewards.
· American Express Blue Business Cash Card comes with extended warranty.
· This business credit card offers purchase protection on all items that might be lost within the first 90 days of purchase.
Annual Fee: American Express Blue Business Cash Card charges $0 annual fee.
The Ink Business Preferred Credit Card is good for those who spends more on business travels and online marketing. It also offers standout sign-up bonuses.
The Ink Business Preferred Credit Card offers approximately $2,000 bonus value including perks. After spending well over $15,000 on all purchase within the first 3 months, you can earn as much as 100,000 bonus points.
Major Benefits and Rewards of Chase Ink Business Preferred Credit Card :
· This is the best business card for travel insurance.
· It charges no foreign transaction fee.
· It offers rental car and cell phone insurance.
· You can earn 3 reward points per dollar for the initial $150,000 spent each year on all purchases such as online advertising, telecoms and shipping.
Annual Fee: This Business Credit Card charges $95 annual fee.
The Brex Corporate Card for Startups offers price protection for your business. It also offers an extended warranty on certain purchases. This business card does not need security deposits which makes it unique. It is one of the best corporate cards available for small scale business.
Brex Corporate Card for Startups also offers a 15% discount off all office space charges. This has to be within the first six months across all states in the U.S. You can earn 75,000 bonus reward points after spending up to $1,000 on purchases.
Major Benefits and Rewards of Brex Corporate Card for Startups :
· It does not charge foreign transaction fees.
· The credit limits is better than most small business cards.
· This credit card has in-built integration with Quickbooks and Xero.
· There are additional offers from partners such as Google Ads and Amazon Web Services.
Annual Fee: It offers a lifetime waived card fees $0 for exclusive TPG link sign-up.
This is one of the best business credit card for official purpose such as business trips. Cardholder can accommodate up to six guests while travelling and it also put these guests on same reservation.
You can earn as much as 40,000 Alaska Airlines Miles within the first 90 days of opening an account if you spend at least $2,000 on purchases within that period.
This business credit card is very valuable for small scale business because you get to earn 3 Alaska miles on every dollar spent while you are on a business trip.
Major Benefits and Rewards of Alaska Airlines Visa Business Credit Card :
· It charges no foreign transaction fees.
· It offers one mile per dollar on every purchase.
· It gives companion fare on account renewal every year.
· It offers 20% back on inflight purchases such as food and Wi-Fi.
Annual Fee: This Business Credit Card charges $75.00 annual fee.
This is a business credit card from Chase that allows you earn 2% to 5% cash reward on your first $25,000 purchase on certain items such as office supplies.
For example, you will earn 2% back on purchases at a restaurant or gas station, while you get to earn 5% on internet purchases. There's a 50,000 reward points after you must have spent up to $3,000 on early purchase. It has an awesome welcome offer.
Major Benefits and Rewards of Chase Ink Business Cash Credit Card :
· It charges no annual fee.
· It offers 0% APR for the first 12 months.
· It offers purchase protection and extended warranty.
· You can earn up to $500 in reward within the first 3 months of sign-up.
Annual Fee: Chase Ink Business Cash Credit Card charges $0 annual fee.
The Plum Card from American Express is a business credit card that offers a very flexible payment plan. It also offers a membership reward that gets you 1.5% discount when you pay up your balance early. This means you get the discount if you pay in full within 10days of your statement closing date.
It is important to understand late payments fees cost $39 or can even result in account closure.
Major Benefits and Rewards of the Plum Card from American Express :
· It has a 60 days interest free payment period.
· It offers 1.5% for early payment.
· It offers a complimentary baggage insurance on travels.
· It does not have a spending limit depending on your payment history.
Annual Fee: The Plum Card charges $250 annual fees but waived in the first year.
American Express Business Gold Card offers an attractive membership perks which makes it very unique.
For every dollar spent on the first $150,000 purchase yearly, you will get to earn 4 points. These points are earned on category purchases such as shipping, advertising, airfare, computer accessories and many more within United States.
For purchases on other categories, you earn 1 point on every dollar spent.
Major Benefits and Rewards of American Express Business Gold Card :
· It has a very good welcome offer and rewards program.
· It charges no foreign transaction fee and there is no intro APR.
· It offers a card baggage protection program that covers checked bags.
· You can earn as much as 35,000 points as membership reward on at least $5,000 spent on eligible purchases.
Annual Fee: American Express Business Gold Card charges $295 annual fees.
As an entrepreneur or business owner you don't need to have a huge capital to set up a business. You can study on how to choose a business credit card or how to apply for business credit cards that will ensure you can kick start that business today.
Let us know about your best business credit card in the comment box. We wish to learn from your own ideas. Hope you enjoyed reading this guide?!
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