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The 11 Top Business Credit Cards: CEO Approved

The 11 Top Business Credit Cards: CEO Approved. It goes without saying that having a business, no matter how big or little, requires money. Resources may not always be flexible when expenses arise, therefore you need a backup plan. Using business credit cards to pay for these costs can be a wonderful option. if you choose the appropriate one and take care of it. Today’s topic of conversation will be that. The ins and outs, ups and downs, and in-betweens of company credit cards.

11 Great Business Credit Cards

It’s crucial to do your research before applying for a credit card. The first thing you need to comprehend is how personal credit cards and corporate credit cards differ from one another. Business credit cards and personal credit cards function in essentially the same ways. You spend the cash buying goods, then you pay it back. A credit card is just a credit card in this sense. There are some significant variations, though, once you look behind the surface.

Let’s now look over the top business credit card list.

1. Capital One Spark Cash for Business Card

For the expenses you encounter every day, this card is excellent. If you buy a box of pens from Office Depot or fill up the plane to fly to a meeting across the country, you can get 2 percent cash back on every purchase. The best part is that those earnings are unrestricted.

  • Interest: 0%
  • Annual fee: $150
  • Rewards: 2% cash back on all purchases

There is a $150 annual fee, which is wonderful, but there is no interest. The amount must be paid in full each month, though. A 2.99 percent late fee, which is still less than most interest rates, will be assessed if you don’t.

Additionally, if you sign up and meet the spending requirements, you may receive $1,000 or more. Even though this specific sign-up bonus might not exist forever, there are generally some worthwhile incentives. It also has several benefits, including price protection, extended warranty, and free employee cards.

2. Capital One Spark Miles for Business

Consider the Capital One Spark Miles for Business card if your company pays for a lot of your travel because it has some really great benefits. First, Capital One Travel offers 5 miles for every dollar spent on hotels and vehicle rentals and 2 miles for every dollar spent on all other business transactions. There are no foreign transaction fees, and the first year’s $95 annual fee is free.

  • Interest: 21.24%
  • Annual fee: $0 first year, $95 after
  • Rewards: 2x miles on each purchase, 5x miles on hotel and rental cars

Additionally, if you sign up for TSA PreCheck and Global Entry with this card, you may receive up to a $100 credit. Employee cards are also free. Additionally, you receive the same extended warranty, price protection, and purchase protection as the Spark Cash card. However, you also receive the following travel protections:

  • Travel accident insurance
  • Lost luggage reimbursement
  • Auto rental collision damage waiver

3. The Business Platinum Card from American Express

American Express also offers a superb credit card for business travel. For flights in first or business class, you receive 5x points if you make your reservations with AMEX Travel. Currently, if you spend $15,000 on qualifying goods within the first three months of joining, you can get up to 150,000 membership points.

  • Interest: 0% first year, 14.99%-22.99% after
  • Annual fee: $695
  • Rewards: 5x points on flights and prepaid hotels through amextravel.com

Additionally, the AMEX Business Platinum Card offers 1.5 points on purchases of $5,000 or more and 1 point on all other purchases. There is a $695 annual charge, however, there are no fees for international transactions. Do the math: If you or your staff travel enough to offset the $695 annual charge, this credit card might be right for you. Additionally, you receive credits for purchases made through websites like Dell and Indeed.

4. Brex Corporate Card for Startups

Brex is a fantastic choice for some firms. Let’s start by emphasizing that this card is issued based on the data obtained from your EIN, thus self-employed individuals, sole proprietorships, and other entities will not be accepted. Instead, continue on to the next card. But if you’re incorporated, keep reading.

  • Interest: 0%
  • Annual fee: $0
  • Rewards: Points on travel, dining, rideshares, recurring software

Brex Corporate Card credit limits are from 10% to 20% greater than those of small business cards, depending on how much money your company has raised. When signing up, the first five cards are free. Every additional card comes with a $5 monthly fee per user. There are no interest charges, no yearly fees, and no fees for international transactions. The money is automatically taken out of your account at the conclusion of the 30-day period, so you don’t even have to remember to do it.

There is more if none of that seems good enough. You receive 8 points for ridesharing, 5 for Brex travel, 4 for dining out, 3 for recurring software, and 1 point for all other purchases. They even have agreements with Google Ads, Xero, Quickbooks, and other companies. See what they can accomplish for your company by checking them out. It won’t harm your credit to apply because it doesn’t depend on your own credit. Additionally, when you spend your first $1,000, you can get 10,000 points.

5. U.S. Bank Business Cash Rewards World Elite Mastercard

With the U.S. Bank Business Cash Rewards World Elite Mastercard, you may make limitless purchases at petrol stations, office supply stores, and for cell phone services and receive a 3 percent payback. There is no cap on the amount you can earn or the awards’ validity. Additionally, you get a $100 yearly statement credit for repeat software subscriptions.

  • Interest: 0% first year, 14.74%-23.74% after 15 billing cycles
  • Annual fee: $0
  • Rewards: $500 when you spend $4,500 on the owner’s card in the first 150 days

For the first 15 billing cycles, you can transfer balances to this card with no interest; however, there is a 5 percent or $10 cash advance fee. Depending on the purchase, a foreign transaction fee of 2 to 3 percent applies. There isn’t any annual charge, though, and the interest rate is 0% for the first 15 billing cycles.

Higher Interest and Fees

Business credit cards frequently have interest rates and costs that are substantially higher than those on personal cards. And to make matters worse, they may raise these interest rates, fees, and any other fees without providing you any advance notice. You can understand that trying to run a business in such a situation would not be enjoyable.

6. Ink Business Preferred Credit Card from Chase

Any firm should think about using ink as a card, particularly those that operate online. This is due to the fact that every dollar spent on search engine and social media advertising earns you three Ultimate Rewards points. The same reward points apply to purchases of shipping, Internet, cable, and phone services, as well as travel. You receive one point for every dollar spent on everything else.

  • Interest: 16.24%-21.24%
  • Annual fee: $95
  • Rewards: 100,000 bonus points after you spend $15,000 in the first 3 months

This card also includes free employee cards, primary rental car insurance, and cell phone insurance. There are $95 in annual fees but no foreign transaction fees. When you complete the spending requirements, you can currently receive a sign-up bonus of 100,000 points. You can also earn additional points by booking travel through Chase Ultimate Rewards.

7. CitiBusiness AAdvantage Platinum Select World Mastercard

Another excellent card to think about for travel is this one. For every dollar spent on American Airlines, as well as on telecommunications, cable and satellite, vehicle rentals, and gas, you earn 2 AAdvantage miles. For all other types of purchases, you receive one mile for every dollar spent.

  • Interest: 16.74%-25.74%
  • Annual fee: $0 first year, $99 after
  • Rewards: 50,000 American Airlines if you spend $2,500 in the first 3 months

Additionally, you can check four bags for free and bring four friends. Additionally, free employee cards are included. Foreign transaction fees do not exist. Although there is a $99 annual fee, the first year is free. Additionally, they provide sign-up promotions that award bonus miles when you meet spending thresholds.

8. The Hilton Honors American Express Business Card

Businesses that travel frequently benefit from having the Hilton Honors American Express Business Card. With this card, you can earn 12 Hilton Honors points for every dollar spent at Hilton properties, 6 points for every dollar spent at restaurants and on certain types of flights and car rentals, and 3 points for every dollar spent otherwise.

  • Interest: 16.49%-25.49%
  • Annual fee: $95
  • Rewards: 12x points on Hilton hotel or resort; 6x points on restaurants, gas, car rentals, telephone services, flights through Amex Travel

Employee cards are free, and you also have access to tools for cost management. Additionally, you are provided with travel insurance, roadside assistance, and more with this card. There are $95 in annual fees but no foreign transaction fees.

9. U.S. Bank FlexPerks Business Travel Rewards Card

There are some really great benefits offered by the U.S. Bank FlexPerks Gold American Express Card as well. On pre-paid lodging and auto rentals, you can earn 5x FlexPoints, 3x on dining out, 2x on airfare, gas, and EV charging stations, and 1x on all other purchases. Currently, if you spend $2,000 in your first four months, you will receive 30,000 points.

  • Interest: 15.24%-25.24%
  • Annual fee: $85
  • Rewards: 5x points on prepaid hotels and car rentals; 3x on restaurants, 2x on airlines, gas, and EV charging stations; 1x on all other purchases

You also have access to millions of WiFi connections worldwide, TSA PreCheck or Global Entry, and the Buy Now, Pay Later choice. This enables you to spread out payments for purchases. There are no foreign transaction fees, but there is a yearly charge of $85.

10. American Express Blue Business Cash Card

This card is beneficial for companies seeking to expand. First, up to $50,000 in eligible purchases every calendar year will earn you 2% cashback. The percentage reduces to 1 percent beyond that $50,000. The Blue business card offers an Expanded Buying Power option that allows you to spend more than your credit limit if you must. Your payment history and other factors will determine how much over, but it is an option.

  • Interest: 0% first year, 13.99%-21.99% after
  • Annual fee: $0
  • Rewards: 2% on all eligible purchases

Although there is no fee on transfers in the first year, there is a balance transfer option available that costs $5 or 3% of the transfer amount, whichever is greater. 2.7 percent is added to all international transactions. Purchases have 0% interest for the first year. Purchase protection, extended warranty coverage, loss and damage insurance for automobile rentals, and other extras are available.

11. Marriott Bonvoy Business American Express Card

Why not have a Marriott Bonvoy Business American Express Card for companies whose travels frequently bring them to the Marriott? For every $1 spent at Marriott properties, you earn 6 Marriott Bonvoy Rewards points. Additionally, you are granted free Marriott Bonvoy Silver Elite Status. Every year that the account is kept open, you even get a free night. You earn a second free night if you use the card for $60,000 in a single calendar year.

  • Interest: 16.49%-25.49%
  • Annual fee: $125
  • Rewards: 6x points on participating hotels; 4x points on restaurant, gas, and cell phone; 2x points on other purchases

But there’s more than that. When spending money in restaurants, gas stations, and cell phone services, you earn 4 points for every dollar spent and 2 points for every dollar spent elsewhere. The card includes roadside assistance, luggage insurance, travel accident insurance, and loss and damage to rental cars. There are annual fees of $125 but no foreign transaction fees. Check the fine print before you sign, as you could not be eligible for the application bonus if you currently have or previously had a Marriott business card.

Anyone Can Apply for Either

Business cards do not necessarily require a physical location or staff members just because they are called such. You can apply for business credit cards as a sole proprietor using your personal details if you are a freelancer or perhaps run a side business and wish to keep your business costs separate. In a similar vein, a business owner may decide to use a personal credit card rather than one with a lower interest rate.

Pros of Business Credit Cards

There are many justifications for requesting business credit cards.

  • Approval for a company credit card typically occurs considerably more quickly than for a personal one. Even though it may seem strange, lenders are often more forgiving with credit cards even when they are considering your own credit score. Although it’s not always the case, this is the norm.
  • Rewards, bonuses, promotions, and other incentives all have a lot of value. If you obtain a loan with an introductory rate of 0% interest for a year, for example, you will have the entire year to work on raising your income. This is fantastic for small businesses and startups since it gives them a chance to receive funding. As was already noted, accumulating points for items you use can also help you save money.
  • You might as well get a credit card that will assist you in making the necessary savings if you are going to have one anyhow.
  • They can aid in establishing your business credit, which is something that businesses urgently require.

Rewards and Bonuses

The perks and bonuses offered on business credit cards are more appealing to businesses than to individuals because they are designed for use by businesses. For example, business cards typically offer better choices in categories like:

  • Travel- hotel stays, rental cars, airfare
  • Office Supplies
  • Technology
  • Even advertising

Although some personal cards also use these categories, you’re more likely to receive rewards and bonuses for personal cards like:

  • Groceries
  • Home improvement purchases
  • Entertainment

On both personal and business credit cards, these categories can be found occasionally, but not always.

Credit Card Shopping Trick that Many People Try

Obtain a credit card with no interest for the first year and usable benefits. Find another card with 0% interest for a year, close the original one at the end of that year, and you won’t be charged an annual fee. It’s usually worthwhile to attempt and ask your original credit card provider since occasionally, rather than losing your business, they’ll offer you another attractive deal.

If it doesn’t work, unless your contract specifies otherwise, you can apply for a new card at the conclusion of each promotion. You will need to either make sure your balance is paid in full before the end of the promotional period or make sure your new card allows for balance transfers and transfers that balance at least a month in advance for this to function successfully. This will ensure that you have nothing on the card after your promotional period is over.

Handling Business Credit Cards Responsibly

Your company credit cards require the same level of caution as your personal credit cards. Well, unless you handle your personal cards carelessly. If that’s the case, it’s time to treat them all responsibly. Here are some pointers to help you:

  • Give cards only to workers you believe will handle them responsibly, and then follow up to make sure they are.
  • Set spending restrictions on the cards so that neither you nor your staff may make any significant purchases without your prior approval.
  • Spend only the money you need to spend or have planned to spend.
  • Establish a spending limit and stick to it.
  • Instead of constantly using your credit card, try to have savings set aside for unforeseen costs.
  • Every month, pay your bills on time.
  • Pay more than the required minimum balance. As mentioned above, strive to pay off your balance each and every month if at all possible.
  • Keep in mind that 0% APR does not give you permission to blow your budget. You must settle the balance of any charges you made during that time before the promotion expires. Interest will be added otherwise.

Conclusion

A business requires time, dedication, and money to operate. Although credit cards can only handle the financial aspect of things, having the money on hand can save you time and make it simpler to stay in the game. As I mentioned before, having access to a business line of credit and a business credit card expands your alternatives. Having multiple business credit cards also qualifies.

You might find it helpful to hold two or three business cards out in front of you. First of all, when done correctly, they will boost your company’s credit. Second, you may choose the best card for each decision you need to make if you have three that each offer unique benefits and cash back for unique transactions. Look at a handful that you believe will most benefit your company and submit an application.

There is also hope if you are now drowning in credit card debt that you are unable to escape. You may be able to obtain the money you require for your credit card repayment through an installment loan. Then you have one easy payment to make each month rather than several payments and outrageous amounts of interest.

Read Also:

How to Select the Best Small Business Loan for Your Needs

APR Vs. Interest Rate For Car Loans

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