Find the Perfect Fit for Your Small Business with these Top 5 Credit Cards
Are you a small business owner in search of the perfect credit card to help manage your finances and grow your business? Look no further! In this article, we will explore the top 5 credit cards that are specifically designed to meet the needs of small businesses like yours. Whether you’re looking for rewards, low interest rates, or flexibility in managing expenses, we’ve got you covered. So let’s dive in and find the perfect fit for your business!
Growthsynch has partnered with CardRatings for our coverage of credit card products. Growthsynch and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Growthsynch may receive a commission from card issuers. Some or all of the card offers that appear on Growthsynch.com are from advertisers and may impact how and where card products appear on the site. Growthsynch does not include all card companies or all available card offers. Terms apply to American Express benefits and offers
Why Choosing the Right Credit Card Matters for Your Small Business
As a small business owner, choosing the right credit card can make a world of difference in managing your finances and maximizing your growth potential. Here are some reasons why finding the perfect credit card is crucial for your small business:
- Flexible Financing: A business credit card provides you with a revolving line of credit that can be used to make purchases, pay for expenses, and manage cash flow. The right credit card can offer you flexible financing options tailored to the needs of your business.
- Separate Business and Personal Expenses: Keeping your business and personal expenses separate is essential for accurate accounting and tax purposes. A dedicated business credit card allows you to easily track and manage your business expenses.
- Build Business Credit: By using a business credit card responsibly, you can establish and build your business credit history. This can help you qualify for larger loans, better interest rates, and more favorable terms in the future.
- Rewards and Benefits: Many business credit cards offer rewards programs and perks specifically designed for small businesses. From cashback on business purchases to travel rewards and discounts on business expenses, the right credit card can help you save money and enjoy additional benefits.
- Expense Tracking and Reporting: Small business credit cards often provide detailed expense tracking and reporting tools, making it easier for you to monitor your spending, analyze trends, and prepare financial reports.
Now that we understand why choosing the right credit card is important for your small business, let’s explore the top 5 credit cards that we highly recommended for small businesses like yours.
1. The Business Platinum Card® from American Express
The American Express Business Platinum Card is a premium credit card that offers a wide range of benefits and rewards tailored to the needs of small businesses. Full of smart, intuitive features, it’s easy to see why this card is our top choice!
Why we like it:
- Rewards Program: The Business Platinum Card offers a generous rewards program with points that can be redeemed for travel, gift cards, merchandise, and more. !!UPDATE!! – Earn 120,000 Membership Rewards® Points
after you spend $15,000 in qualifying purchases on the Card within your first 3 months of Card Membership. – This is a huge $1700 value – even more appealing when you consider that the annual fee is only $695! - Airport Lounge Access: No other card will provide you with the worldwide access that you get with this one: Enjoy complimentary access to over 1,400+ airport lounges in over 500 airports around the world, including The Centurion® Lounge.
- Travel Benefits: We love the incredible range of travel services provided with this card. You can receive travel credits, upgrades, and other perks when you book your travel arrangements using the Business Platinum Card. Want to receive status at Hilton and Marriott hotels? No stay requirements for Gold status with those two hotel chains.
- Expense Management Tools: Simply and streamline! This card provides advanced expense management tools, including the ability to assign spending limits to individual employees and track their expenses.
- Concierge Service: Last minute concert tickets, reservations at the hottest restaurants? Benefit from a dedicated concierge service that can assist you with travel arrangements, reservations, and other business-related requests.
See Rates and Fees
2. Chase Ink Business Preferred® Credit Card
The Chase Ink Business Preferred Credit Card is another excellent choice for small business owners. It is packed with great offers and features. Why we especially love this one:
- Sign-Up Bonus: It’s really hard to beat this incredible signup bonus that Chase basically halved the cost for. Now all you need to do is spend $8,000, instead of $15,000, in the first 3 months to receive 100,000 points!
- Rewards Program: We love all the bonus points you get – Earn 3 points per $1 on the first $150,000 spent in combined purchases
- Cell Phone Protection: Save on expensive monthly warranty plans! With this card you’ll receive up to $600 in protection against theft or damage
- Travel Insurance: Travel worry-free! you will get various travel insurance coverages, including trip cancellation/interruption insurance, auto rental collision damage waiver, and more.
- Employee Cards: This one is a sneaky good time saver. You can easily manage and monitor employee spending by providing them with authorized user cards while setting individual spending limits.
3. Capital One Spark Cash Plus
The Capital One Spark Cash for Business card is an excellent choice for small businesses that prioritize cashback rewards. We particularly favor this card for its flexibility, lack of foreign transaction fees, and ease of adding employees. Other great features:
- Cashback Rewards: We love that you will earn unlimited 2% cashback on all purchases. No restrictions!!
- Sign-Up Bonus: This is one of the easiest bonuses to get of all the cards we’re featuring here. Earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months
- No Foreign Transaction Fees: this is another of those great features that really pays off when working internationally or doing business with foreign companies. Those fees can really add up, and with this card, zero fees!
- Additional Employee Cards: Maximize those points!! Employee spending on your authorized cards contributes to your point balance!
4. American Express Blue Business Cash™ Card
This is one of our favorites because there is no annual fee! This card offers incredible value with streamlined features.
- Cashback Rewards: You get 2% back on up to $50000 spent each year – that’s $1000 right back in your pocket! And once you hit that $50k threshold, you will continue to earn back 1% on every purchase.
- Annual Fee: Not only do you get that cash back, but you aren’t paying for the privilege! Zero annual fee!
- APR%: And it gets even better! How about 0% interest on all purchases made in the first 12 months?! After that your APR will be a variable rate, 18.49% – 26.49%, based on your creditworthiness and other factors as determined at the time of account opening.
- Expense Management Tools: American Express has a robust tool chest of expense management tools. We love how easy it to keep track of not just your spending, but also that of your employees
See Rates and Fees
5. CitiBusiness®/AAdvantage® Platinum Select® Mastercard®
If your small business involves frequent air travel, the CitiBusiness®/AAdvantage® Platinum Select® Mastercard® can be a valuable asset. Make those miles work for you and for your business travel! Other great features are:
- Airline Miles: American Airlines offers one of the best mileage programs in the sky. You can use the miles you earn with other OneWorld partner airlines as well. Earn those miles, travel the world!
- Companion Certificate: Want to travel with a friend, partner, loved one? Receive a companion certificate each year, allowing you to bring a companion on a domestic round-trip flight for a reduced fee. We love the value of that of that feature!
- First Checked Bag Free: Hate paying for checked bags? I know we do! with this card, you can enjoy the convenience of a first checked bag free for you and up to four companions on eligible American Airlines flights.
- Priority Boarding: I don’t know about you, but we can’t stand having to compete for overhead space once on-board. With this card, you and up to four companions can board American Airlines flights early, ensuring ample overhead bin space for your carry-on bags.
- Flight Discounts: Here’s a nice extra perk – you’ll receive 25% savings on eligible in-flight purchases such as Wi-Fi, food, and beverages. Pretty sweet!
Frequently Asked Questions (FAQs)
Q1: Can I apply for a business credit card as a sole proprietor?
A1: Yes, as a sole proprietor, you are eligible to apply for a business credit card. You can use your Social Security number as your business identification number.
Q2: Do I need an excellent credit score to qualify for a business credit card?
A2: While having an excellent credit score can increase your chances of approval, some business credit cards are available to applicants with fair to good credit scores. It’s always a good idea to review the specific credit requirements of each card before applying.
Q3: What are some common fees associated with business credit cards?
A3: Common fees associated with business credit cards include annual fees, foreign transaction fees, balance transfer fees, and cash advance fees. However, not all cards have these fees, so it’s important to compare the terms and conditions of different cards.
Q4: How can I maximize the rewards on my business credit card?
A4: To maximize rewards, consider using your business credit card for all business-related expenses. Take advantage of bonus categories, sign-up bonuses, and any other promotional offers provided by the credit card issuer.
Q5: Can I use a business credit card for personal expenses?
A5: It’s generally recommended to keep business and personal expenses separate. However, some business credit cards may allow you to use them for personal expenses, but it’s important to review the terms and conditions of your specific card.
Q6: What should I consider when choosing a business credit card for my small business?
A6: When choosing a business credit card, consider factors such as rewards programs, interest rates, fees, introductory offers, customer support, and any additional benefits or features that align with your business needs.
Conclusion
Choosing the right credit card for your small business is essential for managing finances effectively and maximizing rewards. The top 5 credit cards mentioned in this article offer a range of benefits, rewards, and features tailored to small businesses. Whether you prioritize cashback rewards, travel perks, or flexible financing options, there’s a credit card that can meet your specific needs. Evaluate each card’s features, rewards programs, and terms to find the perfect fit for your small business.
So, take the time to research and compare these cards to make an informed decision. By selecting the right credit card, you can fuel the growth of your small business while enjoying the benefits and rewards that come along with it.
Growthsynch has partnered with CardRatings for our coverage of credit card products. Growthsynch and CardRatings may receive a commission from card issuers. Growthsynch may receive a commission from card issuers. Some or all of the card offers that appear on Growthsynch.com are from advertisers and may impact how and where card products appear on the site. Growthsynch does not include all card companies or all available card offers.
For rates and fees for American Express cards mentioned in this post, please see the following links: The Business Platinum Card® from American Express (See Rates and Fees; Terms Apply); American Express Blue Business Cash™ Card (Rates and Fees; Terms Apply)
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
