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.
Ink Cash Business Credit Card: My pick for the best small business credit card is the Ink Cash Business Credit 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 in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Plus, they can earn 2% cash back at gas stations and dining at restaurants on the first $25,000 spent in combined purchases each account anniversary year and unlimited 1% cash back on all other Ink Cash Business Credit Card purchases.
In addition to the great cash back offer, the card comes with other perks. See the issuer’s terms about the Ink Cash Business Credit Card’s introductory APR on balance transfers and purchases. 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 Credit Card is an all-around solid offer.
Other Top Credit Cards for Businesses
Ink Plus Business Credit Card: This card adds some additional perks, but also an annual fee, to the Ink Cash version of the card. In exchange for a $95 annual fee, you can earn 60,000 bonus points when you charge $5,000 on purchases in the first 3 months from account opening. Sixty thousand points is good for $750 toward travel when you redeem through Chase Ultimate Rewards. This makes the Ink Plus card one of the highest bonus cards available today. You can also earn up to 5 points per $1 spent in certain categories subject to a spending cap. If you charge a lot to a business credit card, the Ink Plus card is an ideal choice.
Capital One: The folks at Capital One offer four different versions of a small business credit card. Each of them is an excellent choice, depending on your spending patterns. Here’s a quick summary of each card:
- Capital One® Spark® Cash for Business: Unlimited 2% cash back and a one-time $500 cash bonus once you spend $4,500 on purchases within the first 3 months. Annual fee: $0 intro annual fee for the first year; $59 after that. Get more details here.
- Capital One® Spark® Cash Select for Business: Unlimited 1.5% cash back and a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months. Annual fee: $0. Get more details here.
- Capital One® Spark® Miles for Business: Earn 2 miles per $1 on every purchase and a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months. Annual fee: $0 intro annual fee for the first year; $59 after that. Get more details here.
- Capital One® Spark® Miles Select for Business: Earn 1.5 miles per $1 on every purchase and a one-time bonus of 20,000 miles once you spend $3,000 on purchases within the first 3 months. Annual fee: $0. Get more details here.
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. gas stations, including at Costco, for purchases up to $7,000 per year (1% thereafter), 2% on on eligible travel purchases, including at Costco, 2% at U.S. restaurants and 1% on other purchases, including at Costco, 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. No annual fee with your paid Costco membership each year. 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 equal to 15.24%. Terms & Limitations Apply. Get more details here.
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 25,000 bonus Starpoints® after spending $5,000 on purchases with the card during the first three months of Card Membership. Cardholders may earn 2 Starpoints for each dollar of eligible purchases charged directly with hotels and resorts participating in the SPG® program and one Starpoint for each dollar spent on other eligible purchases. Terms and conditions apply.
There is a $0 introductory annual fee for the first year, and after that the annual fee is $95.
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 August 18, 2016 and originally published February 22, 2012. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.