The 5 Best Small Business Credit Cards Of 2015
It’s not easy running a small business, and owners have to fight for every bit of revenue they can, while closely tracking their expenses. Credit cards designed for business use can help with this task by offering a single place to view all business expenses, including purchases by employees who are authorized cardholders.
In addition, the best business credit cards will offer valuable rewards for spending in the form of points, miles or cash back on the kind of purchases that business make most often. Other features can include introductory financing and travel benefits.
So if you are a small business owner, or are simply earning a little extra money on the side as a sole proprietor, then you need to consider one of these top small business cards:
When Chase introduced its Ink line of cards several years ago, it quickly gained a loyal following among small business owners who valued travel rewards in particular. With the Ink Plus card, new account holders receive 50,000 bonus points after spending $5,000 within the first three months after account opening. Cardholders earn an amazing five points per dollar spent at office supply stores and on cellular phone, landline, Internet and cable television services, on up to $50,000 spent each cardholder year. Double points are earned on up to $50,000 spent each cardholder year at gas stations and on hotel accommodations, and one point per dollar spent elsewhere.
Points are worth 1.25 cents each toward travel reservations booked through Chase, but these points can be most valuable when transferred to points and miles with one of their 10 different airline, hotel and rail travel partners. Points can also be redeemed for cash back, gift cards and merchandise at a rate of one cent per point. There is a $95 annual fee for this card that is waived the first year, and no foreign transaction fees.
While some business owners crave valuable travel rewards, others are primarily focused on the bottom line. For these cardholders, the Spark Cash for Business card offers an unbeatable 2% cash back on all purchases with no limits. In addition, new cardholders receive a $250 cash back bonus when they use their card to spend $5,000 within the first three months after they open their account. There is a $59 annual fee for this card that is waived the first year, and no foreign transaction fees.
The Business Platinum Card from American Express offers so many features and benefits, it can be difficult to appreciate them all. First, new cardholders receive 25,000 bonus Membership Rewards points after spending $5,000 on their card within three months of account opening. Cardholders also earn one point per dollar spent on all purchases, and these points can be redeemed for gift cards, merchandise or travel reservations. In addition, Membership Rewards points can also be transferred to airline miles with 17 different carriers.
Cardholders also receive access to the business lounge programs of Delta Airlines, the Priority Pass Select network and American Express’s own Centurion lounges. Other benefits include a $200 annual airline fee credit, and $100 credit towards an application to the Global Entry program, and numerous travel insurance and purchase protection policies. There is a $450 annual fee for this card.
Ink Cash is the other member of Chase’s line of Ink business cards. Similar to the Ink Plus, Ink Cash cardholders earn five points per dollar spent on up to $25,000 in purchases annually at office supply stores, on cell phones, landline phones, Internet and cable television, two points per dollar spent on up to $25,000 in purchases annually at gas stations and restaurants, and one point per dollar spent on all other purchases. Unlike the Ink Plus card, these points are worth one cent each toward cash back, travel reservations or other options, and cannot be transferred to travel partners.
New cardholders also earn $200 bonus cash back after spending $3,000 within three months of opening their accounts. And best of all, there is no annual fee for this card.
The SimplyCash Business Card from American Express offers rewards in the form of cash back, and bonus rewards for many of the most common business purchases. Cardholders receive 5% cash back at office supply stores and on wireless telephone services. In addition, cardholders can receive 3% cash back on their choice of categories including airfare, hotel, car rentals, gas stations, restaurants, advertising and shipping (on up to $25,000 in purchases per calendar year). Furthermore, new cardholders can earn an additional $250 in cash back when they use their card to spend $5,000 within six months of account opening. Finally, as an American Express card, it features a variety of purchase protection and travel insurance policies, and there is no annual fee for this card.