What categories does your business spend the most on each month? If your expenses are concentrated in one category like travel, then search for the best business credit card that offers rewards for those kinds of purchases.
- The Navy Federal Credit Union privacy and security policies do not apply to the linked site.
- Most credit cards carry a variable APR that will change as interest rates in the economy change.
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- Small businesses can get a lot with this low-hassle business card.
- In recent years, travel perks from major co-branded credit cards have lost some of their luster as mergers and rewards program rebrands and restructurings have eliminated some of the perks road warriors know and love.
For a no-nonsense cash back reward card, the Capital One® Spark® Cash Select for Business is a popular pick. Part of the impressive line of Spark business cards from Capital One, it offers a $0 annual fee with a simple rewards structure. Use the cash back for whatever you want, with almost no restrictions on how and where you can earn. If you’re a fan of Capital One and its business-friendly credit model, this is a pick you can be proud to carry. While the card isn’t heavy on travel perks, it does have some benefits, including emergency card replacement to get a new card or even cash 24/7 and auto rental damage waiver service. The purchase protection is a nice benefit, too, giving you 90 days of replacement, repair, or reimbursement for select items you buy with the card; it also doubles the manufacturer’s warranty on items you buy.
U.S. Bank Triple Cash Rewards Visa® Business Card
There’s another major warning if you’re considering a card that requires only an EIN to get approved — a credit card that requires an EIN and not an SSN to apply may not be the best fit for your business. If you have a solid personal credit history, you have a great tool you can leverage to help fund your business and it can help you access https://www.bookstime.com/s with better rates, terms and fees. Just because you can get a business credit card using only your EIN doesn’t necessarily mean you should. Get rewarded on expenses with new cardmember bonus offers, and by earning cash back rewards, airline miles, or credit card reward points on all your business purchases. Experience the power of your rewards with flexible redemption options, to find what best meets your business needs. Business cards draw a line between your business and personal finances.
Is made for traveling entrepreneurs whose expenses don’t fall into common bonus categories. Keep in mind, though, that the fee is a deductible business expense. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours Business Credit Card of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. To view rates and fees for Delta SkyMiles® Reserve Business American Express Card please visit this page. To view rates and fees for The Blue Business® Plus Credit Card from American Express please visit this page.
Am I Eligible?
Read our full The Blue Business Plus Credit Card from American Express review or jump back to offer details. Read our full American Express Blue Business Cash review or jump back to offer details. Read our full Capital One Spark Cash Plus review or jump back to offer details. Read our full Ink Business Cash Credit Card review or jump back to offer details. You can request credit limit increases directly through the platform. Frequent business travelers will love the ability to boost point value by 25 percent when booking travel through Chase Ultimate Rewards.
- For small business owners, this card offers a lot of value despite the hefty annual fee.
- Other cards earn higher flat rewards rates and could prove more valuable even if they carry annual fees.
- After the first year, you’d have to spend at least $4,750 a year on the card before the rewards would outweigh the cost.
- Must have at least $75,000 in a U.S. business bank account to qualify.
- Learn more with Credit Karma’s guide to business credit cards.
For small business cards, your personal credit score is often considered as part of the application process. If you have bad credit, you’ll need to limit the cards you consider to those that are designed for anyone with poor or limited credit history. Business secured cards are the most accessible option for those who can afford the deposit required to secure the card. Other options include improving your credit score before applying or looking for cards that don’t require a personal guarantee.
The Chase Ink Business Cash is an excellent no annual fee card for small business owners. Cardholders can earn 5% cash back on office supplies and select utilities, as well as 2% cash back at restaurants and gas stations. Read our full review of the Chase Ink Business Cash card. Compare the APRs on the credit cards you’re considering. If you carry a balance from one month to another, expect to pay interest — so finding a card with the lowest APR possible will help mitigate costly charges on your account. Some of the best credit cards for businesses come with an annual fee in exchange for better rewards and perks. If you can recoup the cost of the annual fee or afford it outright, then you can unlock more benefits with your business spending.
Your rate will be between Prime + 1.75% and Prime + 9.75% depending on your personal and business credit evaluation. Bank’s announced Prime Rate is subject to change at any time. The interest rate that you are assigned will continue unless a default occurs under the Customer Agreement and we elect to increase the rate, or we exercise our right to change the terms of the account. Rates are subject to change, and may be higher or lower than the stated ranges.
Southwest Rapid Rewards® Performance Business Credit Card
If not, spend up to the $50,000 max, then switch to another card for the rest of the year’s purchases. If eligible, you may be given the option to enroll in a Pay Over Time feature that allows you to pay certain purchases over time. If you choose to enroll in this feature, you will accrue interest on eligible purchases when you choose to carry a balance. It’s not advisable to use a small business credit card to fund your business. It’s safer, especially from the view of potential investors, to fund your business using loans or outside investors.
Is there a downside to getting an EIN?
There are no negative repercussions if you get an EIN and ultimately never use it. Even if it seems like you'll never use it, having one gives you the option down the road to take advantage of its benefits of having one.
The privacy policies and security at the linked website may differ from Regions’ privacy and security policies and procedures. You should consult privacy disclosures at the linked website for further information. The main difference between the two cards is where the responsibility lies for the card’s debt. Additionally, each card has a different credit check process during application. Unfortunately, the same cannot be said for access to your business credit report and score as the major bureaus’ charge for this.
Wyndham Rewards Earner® Business Card *
Interest accrues immediately whenever you use your line of credit account, including by use through Mastercard purchases, checks, and transfers. Read our full list of the best American Express business credit cards here to learn more about our other top picks. Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening.
- These bonus points will be awarded on your monthly billing statement.
- If you’ve ever applied for a consumer credit card, you already know most of the steps toward getting a business credit card.
- The $450 annual fee is offset by the complimentary United Club lounge membership (worth $550/year), so the rest of the benefits are essentially free.
- Hilton Gold elite status with perks like a 20% point bonus on qualifying spending, a fifth night free on standard room award stays of five nights or more, room upgrades and free breakfast at most properties.
- Sign in or enroll now in Truist Small business card online.