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Today we’re going over the top 5 Best Business Credit Card you need to know about there’s a card here for literally everyone new business owners seasoned business owners those who love to travel those with good credit those with bad credit those who just want cash back you name it I’ll be discussing a card for it in fact I’ll be breaking my list into categories.
5 Best Business Credit Card
Our first category flat-rate cash rewards and my top pick is a capital one spark cash for a business credit card I love this card for a couple of reasons first you get unlimited 2% cashback on all purchases.
You heard that right unlimited cashback on all purchases meaning you’re not boxed into any particular category of expenses frankly this card is for those who’d rather skip keeping up with category rewards and would like to focus strictly on the money.
Another benefit of this card is that it includes employee cards for free making it easy to compound your spending and quickly earn more cashback lastly you can earn a one-time $500 cash bonus when you spend $4500 on the card in the first three months of opening your account.
But something to be aware of with this card is that after the first year there’s a $95 annual fee which you would need to put at least 4750$ on the card per year to break even on the annual fee another thing to keep in mind is that you’ll need good to excellent credit to get the card a minimum of 690 credit score is required to be approved.
My top pick is the American express blue business credit card this is a great choice for those looking for a 0% introductory for the first 12 months combine this with a generous 2% cashback reward on up to $50,000 per year in spend and 1% after $50,000 and a 0% annual fee to top it off as if that wasn’t enough.
The American express blue business credit card also comes with a feature known as expanded buying power which allows you to spend beyond your credit limit when needed the amount you’re allowed to spend above your credit limit adjusts as you use the card and they also take into account your payment history your credit record and other factors.
Employee cards come at no annual cost to you and employee purchases get cash back rewards as well now American express also has another card.
The American express blue business plus card is the same as the American express blue business cash card we just discussed but the only difference is that the plus card rewards are in the form of membership points instead of cashback and note that membership points tend to equate to only about 60 cents per point and, for this reason, it did not make the top pick lets look at my top pick for travel awards.
The capital one sparked miles for a business card with the capital one spark miles for the business card you earn an unlimited two miles per dollar with no category restrictions no foreign transaction fees and no expiration date on the mouse.
You collect this card also packs one of the best bonuses in his category a one-time bonus of fifty thousand miles aka five hundred dollars after you spend forty-five hundred dollars in the first three months of opening your account your annual fee is ways for the first year and then the annual fee is $95 thereafter when you use your capital one spark miles for a business card to book hotels and rental cars through capital one’s booking site capital one travel you earn five miles per dollar there is no time restriction on using your miles you accumulate so you can use them exactly when you need them and employees also earn two miles per dollar as well
My top pick for those with fair or limited credit is a capital one spark classic for a business credit card if your business is pretty new or your credit is considered fair in the range of 630 to 689 you may have a tough time getting approved for the business cards previously mentioned
But this is where the capital one spark classic for business credit card shines your approval rate is high and you still get unlimited 1% cashback on all your purchases with no minimum to redeem your reward additional benefits to this card include no annual fee.
And 0 foreign transaction fees meaning you can use the car to travel internationally there had to be some negatives right the biggest one about the capital one spark classic for business cards that it comes with a pretty hefty apart 26.99% additionally
There’s no sign-on bonus and still, with the limited options available to those with fair unlimited credit and the 1% unlimited cashback rewards.
The capital one spark classic for a business credit card is a great choice another popular option for those looking to build or fix their credits.
The Wells Fargo business secured credit card with this card you earn 1.5% cashback on net purchases basically purchases less your returns and credits for every dollar you spend and there’s no annual fee additionally well
Fargo has a reward point program where you earn one point for every one dollar you spent after spending $1,000 in any given billing period you receive $1,000 in bonus points most secured cards I’ve seen fail to offer any rewards so this is a present surprise there’s a minimum deposit of $500 and a maximum of $25,000 which will determine your credit limit be sure to check it out while on your journey to better credit.
My top pick is the Brex corporate card for startups most credit business credit cards geared towards startups require a personal guarantee, not the Brex corporate card.
This card is packed with no annual fee and typically has 10 to 20 times higher limits which provide you with more credit when you need it this card also packs unlimited points based on categories you earn 7 points for every dollar spent on rideshare you earn 4 points for every dollar.
You spend on flights and hotels via Brexit’s travel booking site Brex travel you earn three points for every dollar you spend on restaurants dining and apple products you earn two points for software subscriptions.
And if your spending happens to not fall in any of those categories you still earn one point per dollar once again these points are unlimited furthermore you also gain access to pretty sweet sign-up offers worth up to $250,000 on top business products and tools.
Such as a 150in google ads credit and a 20 discount on zoom also if you sign up through certain partners I’ve seen that you can get a sign-up bonus after spending a specific amount after creating their account.
If you area new business this card is a powerhouse well there you have it the best credit card you can get right now.