This Year's Best Business Credit Card Offers for Entrepreneurs
From cash flow management to easier expense tracking, there are plenty of reasons to use a business credit card for your company’s day-to-day purchases. But beyond the financial management benefits, the best part of these business credit cards has to be the incredible reward offers.
We’ve scoured the latest and greatest business credit card offers for 2017 to help you find the best option with the most savings for your business. Let's take a look.
1. Ink Business Cash Credit Card
Hands down, the best thing about the Ink Business Cash Credit Card is its 0% introductory APR period. It’s one of the only business credit cards to offer 0% fixed intro APR for the first 12 months on both purchases and balance transfers. (Yes, even balance transfers!) After a one-time transfer fee of 5%, this card can buy you the time you need to generate extra revenue without significant ongoing cost.
At the end of the introductory period, the Ink Business Cash Credit Card’s ongoing APR is still competitive within the market. Even so, savvy business owners will be wise to pay down debts before the end of that period, or shop around to be sure they’re still getting a good deal.
In the meantime, Ink Business Cash cardholders can enjoy 5% cash back on office supplies, cell phone charges, and business internet and phone; along with 2% cash back at restaurants and gas stations. Note, though, that these cash back offers are limited to the first $25,000 in combined annual spending.
2. Starwood Preferred Guest Business Credit Card from American Express
Two words: travel rewards.
If your business incurs significant travel expenses, there really is no other card like the Starwood Preferred Guest Business Credit Card from American Express. Partnering with Starwood Preferred’s Starpoints loyalty program, the card offers a close to 4% rewards rate for stays at Westin, St. Regis, W, and Sheraton Hotels, plus rewards transfer opportunities with over 33 different airlines.
Along with outstanding travel rewards, all American Express Business cardholders gain access to the business advice and services provided through the Amex OPEN program. Through this program, cardholders may be eligible for discounts through Amex OPEN merchant partners such as FedEx and Hertz.
Provided you travel frequently—and you pay attention to managing your points and travel bookings in order to maximize your rewards—the Starwood Preferred Guest Business Credit Card from American Express is an ideal solution. But if you aren’t certain you’ll use the benefits, you may be better off with a more straightforward cash rewards option.
3. SimplyCash Plus Business Credit Card from American Express
You know what kind of expenses your business incurs—so shouldn’t you be the one to decide what kinds of purchases are eligible for rewards? This idea is the basis of the SimplyCash Plus Business Credit Card from American Express, which allows you to choose the spending categories where you’ll earn 3% cash back.
Choose one of Amex’s seven categories—airfare, hotel rooms, car rentals, gas stations, restaurants, advertising purchases in select media, shipping, or computing purchases—based on your business’s spending habits to earn 3% cash back on up to $50,000 in purchases per year. In addition, the card offers a flat 5% cash back on purchases from U.S. office supply stores and wireless phone providers.
As with the Starwood Preferred Guest Business Credit Card, the SimplyCash Plus Business Credit Card from American Express is eligible for the same business services, high-quality customer service, and partner discounts from the Amex OPEN program.
4. Capital One Spark Cash for Business
For business owners who love cash rewards programs but aren’t eager to overthink expense categories, the Capital One Spark Cash for Business is an ideal flat-rate rewards card. Instead of travel bonuses you may not use or narrow rewards categories that don’t necessarily apply to your business needs, this card offers a flat 2% cash back rewards rate—among the highest flat rates for business credit cards.
After the no-fee introductory year, the Capital One Spark Cash for Business does charge a small annual fee of $59. But as long as you’re spending at least $3,000 per year on the card, you’ll make up that amount and then some in cash back.
5. Capital One Spark Classic for Business
For business owners with less than stellar credit, the Capital One Spark Classic for Business provides a great option who need some form of short-term financing as working capital but may struggle to qualify for the business credit cards listed above.
This card is by no means an inexpensive way to carry debt—but for business owners with poor credit, it may still be less costly than the short term loans or lines of credit available. And if you can use the card responsibly and pay down your balance every month, the Capital One Spark Classic for Business is a great way for entrepreneurs to build or repair their credit history in preparation for a lower interest credit card or small business loan.
Getting the Most From Your Credit Card
Regardless of which business credit card offer you choose, remember that the key to getting the most from any credit card offer is sound financial management. To avoid incurring expensive interest that takes away from your rewards savings, make sure you are spending within your business budget and consistently making on-time payments.
As long as you keep to these principles, you’ll not only enjoy great savings and rewards for your everyday business purchases, but you’ll also be building a stronger credit history for your business’s financial future.
