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Review: Top 5 Small Business Credit Cards

May 30, 2019

Individuals use credit cards, almost daily, for various purposes – from booking airline tickets to buying groceries. In return, they can take advantage of the many perks that credit cards offer – from cash back and reward points to travel miles. However, few are aware that credit cards can be immensely useful for small businesses, too. In this article, we’ve compiled a list of the top small business credit cards for your benefit.

  1. Ink Business Cash Credit Card: This card offers $500 bonus cash back after you spend $3,000 on purchases in the first three months from account opening – one of the most attractive cash sign-up bonuses offered by any card. You also get 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year and 1% cash back on all other card purchases, with no limit to the amount you can earn. An additional benefit is the 0% introductory APR for 12 months on purchases and balance transfers. There is no annual fee and the regular APR will vary between 14.99% - 20.99% once the introductory period is over.
  1. Simply Cash Plus Business Credit Card from American Express: You get 5% cash back on the first $50,000 spent on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores, 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases. There is a 0% introductory APR on purchases for 15 months, after which APR will vary between 13.99% and 20.99%. There is no annual fee on this card. A drawback is that there are foreign transaction fees of 2.7%, so it's not a great pick for business owners who plan to make international purchases.
  1. Capital One Spark Cash for Business: The card offers unlimited 2% cash back, plus a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening. There is no annual fee for the first year; however, you are charged $95 from the second year onwards. The variable APR for this card stands at 18.74%. To derive maximum benefit, pair this card with a tiered rewards card – this will ensure that you’ll always earn more than the “1% back on everything else” that most cards promise.
  1. Bank of America Business Advantage Travel Rewards World Mastercard Credit Card: You get unlimited 1.5 points for every $1 spent on all purchases everywhere; 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases; and 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Orbitz®. The card offers a 0% introductory APR on purchases for your first nine billing cycles, after which the APR will vary between 12.99% and 22.99%. The best part about this card is that there are no annual or international transaction fees, making it a great pick for frequent travellers.
  1. Blue Business Plus Credit Card from American Express: The card offers 0% on Purchases and Balance Transfers for 15 months, and then there is an ongoing APR of 12.99% - 20.99%. As far as rewards are concerned, you get 2 points per dollar spent on everything, up to the first $50,000 in purchases made every year, and 1 point per dollar after that. There is no annual fee. Although there is no bonus for new cardholders, it is a good choice for its intro APR offer and ongoing rewards.

For small businesses, it is also possible to get as much as $250,000 of unsecured credit at 0% interest. At Fund&Grow, through creative credit card financing, we help clients with good credit obtain such funds for a period of 6, 12 or 18 months. This money can be used for anything, no questions asked. If you are looking for this kind of financing, call us, at (800) 996-0270 and we will assist you.

I take tremendous pride in building positive and lasting relationships in my businesses and personal life. Every member of my team is committed to helping our clients get the maximum amount of funding possible and achieve their highest growth potential.

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