Small businesses often require a substantial line of credit early on to survive the start-up stage. In a perfect world, everyone would have the cash to fund their start-up but it’s not always that easy. These days, finding a bank that can lend to small businesses is extremely difficult, so one of the alternatives is to fund a business is by selecting a small business credit card from the list of best credit card deals here.
Small business credit cards have been around for a while, but some of the most well known lenders like Advanta were causalities of the economic recession. This is a list of the best small business credit cards you can find online today. Along with each card, the list includes a summary of the advantages of its use for a small business.
Ink Cash® Business Card. My pick for the best small business credit card is the Ink Cash Business Card from Chase. New cardholders can earn $200 bonus cash back after spending $3,000 on purchases within the first three months of account opening. Cardholders earn 5% cash back on the first $25,000 spent annually on office supply store purchases, cellular or landline phone service, internet and cable TV services.* And can earn 2% cash back at gas stations and restaurants on the first $25,000 spent annually and 1% cash back on all other Ink Cash Business Card purchases.
In addition to the great cash back offer, the card comes with other perks. The Ink Cash Business has a 0% introductory APR on balance transfers and purchases for six months. Owning the Ink Cash card costs nothing, as the card carries no annual fee. Finally, adding additional cardholders is a snap because again, Chase charges no fee. In terms of rewards, introductory offer and overall quality, the Ink Cash Business Card is an all-around solid offer.
Ink Bold® Business Card. The only charge card to make this list of best small business cards, the Ink Bold Business Card is the card for the ultimate business owner. Cardholders can earn 50,000 bonus points after spending $5,000 in the first three months from account opening. Those bonus points can be redeemed in rewards of your choice. You’ll earn up to five points per dollar for purchases in select business categories. This offer has an introductory annual fee of $0 for the first year and then the annual fee is $95.
SimplyCash® Business Credit Card from American Express. The SimplyCash Business Credit Card from American Express is a fantastic small business credit card. This card opens by offering a 0% introductory APR on purchases for 6, 9, or 12 months depending on the applicants credit history and in terms of cash back, this offer is one of the best. Here are the cash back categories – cardholders can receive 5% cash back on services from U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers, 3% cash back on gasoline at U.S. gas stations and 1% cash back on other purchases. For purchases above $12,000 in each 5% and 3% category per reward year cardholders will earn 1% cash back. Cash back is earned only on eligible purchases and automatically credited to your statement. There is no annual membership fee to own the SimplyCash Business Credit Card from American Express. Terms and limitations apply.
Starwood Preferred Guest® Business Credit Card from American Express. American Express is at it again, offering the Starwood Preferred Guest Business Credit Card from American Express for small business owners who frequently find themselves in hotels. You can earn Starpoints® bonus of 10,000 bonus Starpoints after your first purchase, providing you make your first purchase within one year of card approval, and 15,000 bonus Starpoints after spending $5,000 during the first six months of Cardmembership — up to a combined total of 25,000 bonus Starpoints. Cardholders may earn up to 5 Starpoints® for each dollar of eligible purchases charged directly with hotels and resorts participating in the Starwood Preferred Guest® program and one Starpoint for each dollar spent on eligible purchases. There is a $0 introductory annual fee for the first year, after that the annual fee is $65. Terms and limitations apply.
TrueEarnings® Business Card from Costco and American Express. A rival to the Ink Cash card, the TrueEarnings Business Card from Costco and American Express has a tiered cash back system worthy of ranking at the top. Cash back rates of 4% for gasoline purchases at U.S. stand-alone gas stations, including at Costco, for purchases up to $7,000 per year (1% thereafter), 2% on on eligible travel purchases, 2% at U.S. restaurants and 1% on other purchases offer cardholders the opportunity to grow their business and earn a little back. Cash back is earned only on eligible purchases. You will receive your cash back in the form of an annual reward coupon on your billing statement, which you redeem in person prior to its expiration date for merchandise or cash at any U.S. Costco Warehouse. If you use this card to pay your Costco membership each year, there is no annual fee. This card comes with a 0% introductory APR offer on purchases for the first six months. After that, your APR will be a variable rate, currently 15.24%. Terms & Restrictions Apply.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are authors alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit or charge card prior to applying.
Updated May 10, 2013 and originally published February 22, 2012. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.