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Small business credit cards are becoming an increasingly popular option for business financing. This is particularly useful for small businesses which do not qualify for traditional loans and lack access to funding organizations.

Regardless of the industry of your business or the number of years it has been in operation, a credit card can be of great help as long as you use it wisely and shun buying items which are not needed or cannot be afforded by your business. Small business credit cards differ in various aspects. For instance, while some have higher spending limits and generous rewards programs and promotions on the transfer of balance, personalized concierge service and other benefits, others have an annual fee and require excellent or good credit to qualify.

Owing to the importance of credit cards to any business, it is often challenging for many business owners to get a single solution for their credit card needs. At the same time, switching between credit cards and the expenses that come with using many of them are the luxuries that small business can’t afford. Therefore, separating your personal account from the business account should always be done to minimize the misuse of funds and ease the transparency of expenditure.  It is always good to find a single best credit card that addresses all your business needs and keeps your spending transparent. The best business credit cards have bonus schemes for business expenditure and rebates which cannot be offered by typical credit cards. Here are a few options of business cards you can choose from for your business:

Ink Business Preferred Credit Card

 This solution from Chase is known for value for its annual fee. It gives you three points per $1 spent in popular categories such as travel and allows one to select business purchases. Once you reach an annual cap of $150,000, you can still earn a point for every $1 you spend. For new cardholders who spend $5,000 within the first three months from account opening, they are given 80,000 bonus points. If these points are redeemed, they can amount to $1000 in travel or $800 for cash back. It also has advanced fraud protection which is crucial for any business.

Capital One® Spark® Cash for Business

Capital One Spark Cash for Business is an all-rounded solution that a small business should have at hand. First, it has no annual fee for the first year and after that, you get charged only $95 a year. Employee cards are free and the welcome offer is amazing. The combination of perks and features make this solution an amazing small business credit card. The one-time $500 cash bonus when one spends $4,500 on a credit card within the first three months of account opening makes it even better. The user is also awarded a 2 percent unlimited cash back on every purchase carried out with the card.

The Business Platinum® Card from American Express

This card offers business owners a comprehensive number of benefits despite high annual fee and inability to carry the balance beyond a given cycle. As a start, the customer is given up to 75,000 membership rewards which can get them started. If the customer feels that the points are not enough, they can have an opportunity to earn more points. This card also offers various premium benefits and travel perks. Apart from this, if you spend an additional $10,000, you are given 50,000 membership reward points and after spending an additional $10,000 you are given another $25,000. With an annual fee of $595, the employee cards can be added at no additional cost. You can as well earn 1.5 points on any eligible $1 spend on a purchase of $5,000 or more and a point for $1 on any other purchase. Membership rewards can be used to pay for first-class flights with any airline available through American Express Travel and you can be rewarded 35 percent of the points back.

The solutions above are just a few among the best credit cards for small businesses. However, there are many other credit cards which have different advantages that can be beneficial to your business.

Last modified on Monday, 01 July 2019
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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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