For a small business, using a credit card can be useful with a big credit line to pay for purchases. It will save the owner time and money along with rewards for using a business credit card. Business credit cards can provide a temporary cash advance when in need of quick cash. More importantly, it simplifies your tax records from your personal and business purchases. American Express will provide you with a year-end summary of your charges, separated into categories for tax purposes. Hence, this makes filing your tax return easier. For all small businesses, they need to plan ahead to deal with sudden costs. Business credit cards provide that flexibility with access to credit lines. Therefore, it can be a lifesaver and instrumental to running a successful business. From the list below, we provide you with the best credit cards for small businesses along with rewards, annual fee(if any), and best features.
Chase Ink Bold® Business Card offers 50,000 Bonus Points($625 value toward travel) after you spend $5,000 in 3 months from account opening- that’s good for $625 toward travel! The card requires you to pay off your balance in full each month along with flexible spending limits. Cardholders earn 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services. They will also earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel. There is no foreign transaction fees and the employee cards are free. The annual fee is waived for the first year, and $95 for future years. Full Review
How to get a Business Credit Card
You may not know this, but if you ever sell something on eBay or Craigslist, even had a garage sale, your business is called sole proprietorship which then allowed you to apply for a business card using your legal name as your business id and social security number as your tax id. This is the easiest business entity and completely legal recognized by the IRS.
Chase Ink Plus® Business Card offers 50,000 bonus points after you spend $5,000 in the first 3 months from account opening. With Ink Plus, you have the cash flow flexibility with the choice to pay over time or pay in full. You’ll get 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services. There is annual fee for the first year and no foreign transaction fees. Full Review
CitiBusiness®/ AAdvantage® World MasterCard® offers 30,000 bonus miles (a $300 value) after spending $1,000 within the first three months. This credit card is a great choice for business owners or frequent fliers who would like to earn free flights on American Airlines. First eligible checked bag free for you and up to 4 traveling companions. Some additional perks include having your first checked bag free and priority boarding on American Airlines flights. There is no annual fee for the first year, and $95 thereafter. Full Review
U.S. Bank FlexPerks Business Travel Rewards Visa® card offers 20,000 FlexPoints ($200 value) when you spend $3,500 or more in the first 150 days of card ownership. This card allows you to enjoy travel rewards on more than 150 airlines with faster earning, more award seat availability and expanded reward choices. If you are a business owner and frequent traveler, take advantage of this card in order to gain the best returns from your spending. Redeem FlexPoints for purchases on travel, gas, and office supplies. Full Review
CitiBusiness ThankYou® Card offers 15,000 bonus ThankYou® points after you make $3000 in purchases within 3 months of cardmembership, that’s enough for $150 in gift cards. This allow small businesses and sole proprietors a way to earn bonus ThankYou points on many of their purchases. You’ll earn 3 ThankYou Points for every dollar spent on eligible purchases in rotating business categories and 1 point on all other purchases. Best of all, pay no annual fee with your CitiBusiness ThankYou Card. Full Review