The Best Small Business Credit Cards of 2021
Finding the right credit card for your business can take quite a bit of research. Luckily, you have landed here. Below is our list of the best small business credit cards for 2021.
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 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.
Read more: Check out new business banking innovative options
Editor’s choice: Capital One Spark Cash Plus for Business
The Capital One Spark Cash Plus Credit Card is our top pick. It’s one of just a few credit cards that pay 2% cashback on every purchase. That’s a great level of cashback for unlimited rewards and no spending categories! Plus it has an incredible new member offer. You can earn up tp $1,000 cash bonus in the first six months of card ownership; $500 bonus when you spend $5,000 in first 3 months and another $500 when you spend $50,000 in the first six months.
This card does have an annual fee of $150, but it’s waived for the first year. It also gives you fraud alerts and coverage, as well as free employee cards, and no foreign transaction fees.
Ink Business Cash® Credit Card
If cashback is your top option for the rewards structure on your small business credit card, the Ink Business Cash® Credit Card could be for you. It offers 5% cashback in select categories that are targeted specifically at businesses, plus 2% cashback on other categories. And it has a $0 annual fee and a 0% APR for 12 months on purchases when you open a new account (APR of 17.99% - 23.99% Variable after).
The 5% cashback categories for this card include office supply store purchases and spending on internet, phone, and cable services. You can get that 5% cashback on up to $25,000 in purchases in those categories each year. And you can get 2% cashback on your first $25,000 spent in combined purchases at gas stations and restaurants each year. Outside of these bonus categories, you’ll get 1% unlimited cash back on all your purchases.
Finally, as mentioned, this card is tempting for new business owners with its 0% APR on purchases (new computers, anyone?) with a standard APR of 17.99% - 23.99% Variable after, and it gives you a $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
Additional features include:
- Free additional cards for employees when you need them
- Cashback rewards redeemable through the Chase Ultimate Rewards system
- Additional insurance coverage on purchases and travel
- Great tools for managing your spending
Ink Business Unlimited® Credit Card
Don’t want to worry about spending in particular categories? In this case, check out Ink Business Unlimited® Credit Card. This card offers 1.5% cashback on every purchase made for your business, and the rewards are unlimited.
Besides this easier cashback structure, this card lets you also get $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. It’s their best offer ever. Terms apply.
Additional features include:
- Free additional cards for employees
- Fraud monitoring
- Online account management
- Additional travel and purchase benefits
- Terms apply
Capital One Spark Miles for Business
If your business involves a lot of travel and you’d like to subsidize that travel with credit card rewards, look no further than the Capital One Spark Miles for Business Credit Card. This one offers 2X unlimited miles on every business purchase. And you can get 50,000 bonus miles when you spend $4,500 in the first three months and 150,000 bonus miles when you spend $50,000 in the first six months.
This card offers valuable benefits, but it does come at a cost. It’s got a $0 annual fee for the first year, but it jumps up to $95 per year after that. But for that cost, you get features like:
- Free employee cards
- Fraud coverage and customizable fraud alerts to protect your business
- No foreign transaction fees
- Account information easy to export to Quicken, Quickbooks, and Excel
- Travel and emergency assistance services
- Auto rental damage waivers
- Purchase security and extended protection
The Blue Business® Plus Credit Card from American Express
This is another great option for a no annual fee small business credit card. It offers 2X Membership Rewards points per dollar spent on up to $50,000 per year. After that limit, you’ll get 1X point per $1 spent, unlimited. But the great part is that there are no category restrictions. This card also offers a 0% introductory APR on balance transfers and purchases for 12 months.
One interesting feature, too, is that you can get an expanded buying power above your credit limit, depending on your history with the card, credit history, and other factors. So if you have one month that is big earning and big spending, you can go above your credit limit temporarily, which gives you more flexibility.
Other features include:
- Free employee cards
- The ability to delegate an account manager who can access the account
- Connection to QuickBooks
- A Spend Manager tool to help you manage your expenses
- Account alerts you can set up to customize
Which is Best?
The key to knowing which business credit card to choose for your small business is understanding what your spending patterns are or are likely to be. If you’ll never spend enough to out-earn a steep annual fee, then opt for a card with a $0 annual fee, even if it comes with lower rewards. And if your business just doesn’t spend that much at office supply stores or on telephone services, then opt for a card that has different or broader categories.
The great thing about having all these options as a small business owner is that you can choose the credit card that best suits your business’s particular needs. And a credit card can get you some great rewards–including travel and purchase protections besides just the cashback rewards you earn–that can help your business succeed.
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.
Article comments
Hey!, I’m just putting some feelers out there to see if there’s anyone interested in making a pretty substantial amount of cash in a short amount of time. Only thing this requires is that you have an active bank account or credit card in the US. No cash is required up front to start. Which means your account can be on a zero balance and that’s completely fine. There are different money deals that suit just what you want, contact [email protected]
You can also use the business card reward calculator at CreditCardTuneUp. com to see which cards can pay you more in reward value for your regular monthly business expenses.
It is important to do as much research as possible before deciding to apply for business credit cards. The purpose that the card is going to used for is a prioirty. Then the reward structure and benefits can be matched against it.
You’ve made a mistake regarding the Plum Card. Yes, it is a charge card, but you don’t have to pay in full every month like most charge cards. It has 2 payment features: the early pay discount you described, and then the defer pay feature. It let’s you carry a balance, interest free, up to 60 additional days from the payment due date. It’s like a charge card/credit card hybrid. But better than credit cards in the sense that they won’t charge you interest for carrying a balance.
Even if you don’t plan on financing your business with a small business credit card, it is still very convenient to have one on hand. You don’t want to be putting miscellaneous business purchases on your personal credit card and then have to sort through it all later. Plus the fact that you can earn rewards or cash back with a business credit card just adds to the benefits.
Thanks for sharing your reviews with us!
One awesome thing is that interest rates are sooooo low. Even though some credit companies are freaking out about having so much disclosure on their interest policies and pricing, it still ends up being advantageous to many small business owners. And when it comes down to it, that is who keeps our economy rolling.
Yay small business owners!
We currently use Ink Cash Business for our company & have for a while. We use it for a lot for business & sometimes have somewhat high balances, but have for years. About 3-4 years ago, our interest rate was around 12%. Now it is 25.99%. I just got off the phone with them trying to find out why. I was told “the high cost of lending money”, “the cost of the cards”, and a few others. We will be switching to a credit union. Be careful if you have monthly balances.
Looking into the Chase Ink with Ultimate Rewards. Would love a card that gives me travel perks 🙂
Thanks for sharing this information. It is very important to do your homework when deciding on which credit card to use. The information in this post is great for side-by-side comparison of cards and rates.