The Top 3 Business Credit Cards of Summer 2013

Business credit cards can carry a whole host of benefits for businesses that many business owners don’t realize initially. While many new business owners are content just using debit cards and wire transfers, credit cards are actually more beneficial in the long run. Business credit cards are important because they will allow your business to begin building a credit score, allow you to keep your business and personal finances separated, offer a number of different rewards programs, and provide excellent year-end reporting for tax purposes. Choosing the best business credit card isn’t always the easiest process, so I’ve done the research for you.

Here are my picks for the best business credit cards currently available:

1. SimplyCash Business Card from American Express – The SimplyCash Business Card from American Express is my favorite business credit card currently available. With the SimplyCash Business Card, cardholders receive 5% cash back at U.S. office supply stores and on wireless telephone services from U.S. wireless carriers. In addition, businesses receive 3% cash back at U.S. gas stations, and 1% cash back on all other purchases on up to $12,000 in purchases in each category, then 1% thereafter. Cardholders are also entitled to a 0% introductory APR on purchases for 6, 9, or 12 months depending on your creditworthiness. The card also does not require an annual fee. The SimplyCash Business Card is one of the best cash back credit cards currently available.
2. CitiBusiness ThankYou Card – The CitiBusiness ThankYou Card is another great business rewards credit card. With the CitiBusiness ThankYou Card, cardholders receive 15,000 bonus ThankYou Points after spending $3,000 in purchases in the first 3 months that they have the card, which is enough for a $150 gift card. In addition, cardholders receive 3 ThankYou Points for each dollar spent on purchases in rotating business categories, and 1 ThankYou Point for each dollar spent on all other purchases. There is a 0% introductory APR on purchases for 6 months, and no annual fee to use the card. Cardholders also earn an anniversary bonus each year that they have the card.
3. Capital One Spark Cash for Business Card – The Capital One Spark Cash for Business Card is another excellent business credit card. With the Capital One Spark Cash for Business Card, cardholders earn 2% cash back on every single purchase, as well as the opportunity to earn $150 in bonuses: you can earn $100 in bonus money once you spend $1,000 on purchases in the first 3 months of having the card, and another $50 bonus when you sign up for one or more employee cards within the first 2 months. There is no limit to the amount of cash back your business can earn. There is a $59 annual fee to use the card, but it is waived in year one. Cardholders are also entitled to $0 Fraud Liability, 90-Day Purchase Protection, Auto Rental Collision Damage Waiver Program, and Travel and Emergency Assistance.