Best credit cards for small business

Best credit cards for small business -

If you're running a small business or planning to start one, business credit cards can be a useful tool to save money and time. With extremely generous rewards like a $ 500 bonus and introduction of up to 5% cash back, these cards are a great way to be rewarded for the expenses you are already doing. And as payments on credit cards are generally not due until 30 days or more after the purchases are made, they act as short-term loans at 0% interest. While we do not generally recommend a balance on credit cards, if there is a large expense that you have to do that you are confident you can pay within 12 months, our top-rated map below provides also a 0% introductory APR for 12 months. On the other hand, if you intend to take much more time to repay a loan, small business loan may be your best bet.

business credit cards can enable save you a lot of time carrying you to pay for items while separating personal expenses cost companies and offer expense management tools to help you better manage your expenses. We analyzed the major credit card companies in the market, and we found the top 3 options. See our picks below for more information.

Best cards for small businesses

Best Cash Back Overview map: Cash Ink Business Card
Straight out of the gate, you earn 200 $ cash bonus after spending $ 3,000 within the first 3 months. In addition to this you will get 5% return on the cell phone, landline and Internet services and cable TV as well as purchases made at office supply stores (the first $ 25K shopping combined per year) . You also earn 2% back in stations and restaurants Gas (on the first $ 25K in purchases combined per year) and unlimited 1% cash back on all other purchases. If you exceed the limit of $ 25K in 2% and 5% return categories, you will earn the standard 1% return. That's a lot of cash back potential gains, and you do have to pay a single cent for an annual fee because there is none. Once you've earned your reward, you can redeem them against cash back, travel or gift cards. The more 12 months 0% Intro APR on purchases and balance transfers (just remember there is a 3% balance transfer fee).

Best Intro Bonus Cash Back Card: Capital One Cash Spark for Business
With a huge bonus $ 500 intro after spending $ 4,500 to during the first 3 months, Capital One Spark Cash for Business leads the pack in intro premiums. The cash back rewards are great too, as you get 2% on all your purchases. This is different from other cards that offer more cash back rewards in specific categories or in categories that rotate quarterly. Instead, you need not worry about the expense category you will gain 2% steady cash on every single purchase. You can redeem your rewards in any amount at any time, and if you prefer, you can even set up automatic redemptions on a specific time each calendar year or automatically when you reach a certain threshold dollar. There is an annual fee of $ 59, but he waived the first year. If you prefer a card with no annual fee, take a look at the same Capital One Spark Cash for Business Select.

The Best Cash Back Card Flexible: SimplyCash Business Card from American Express
Featuring a 250 $ statement credit after spending 5 $ 000 in the first six months, SimplyCash Business Card American Express is not left in the introductory bonus category. In addition, you will earn 5% back to the office supply stores and wireless phone services purchased directly from service providers. But this card has a cash-back twist; you have a beautiful 3% return on the category of your choice selected from a list of categories that includes airfare, hotel stays, car rental, gas, eating out and others, and 1% return on all other purchases. The 5% return and 3% return apply for purchases up to $ 25,000 per year, which is pretty generous, after you earn the standard 1%. There is no annual fee, and you can also enjoy the 9 months 0% Intro APR on purchases for the business purchases you need without paying any interest.

Still not sure a business credit card is right for you? Here are some reasons why it might make sense:

Why get a business card

It is a good idea to choose a company credit card you will earn rewards for your purchases? . These rewards are usually in the form of cash back, a statement credit or points. Whichever way you choose to go, there is more to earn rewards for spending daily and substantial purchases of your business incurs. The rate of credit card business on rewards are usually more than on consumer credit cards because business customers tend to spend more and be more profitable for credit card issuers.

The companies with multiple employees can obtain additional cards, often for free. This is handy as any company buys your employees make will be added to total rewards card earns each month, even earning rewards. They also provide easy to track purchases made by the employee that their purchases appear on your statement and not a separate issue.

For tax purposes, it is important keep your personal finances and business completely separated and avoid commingling of funds. A business credit card is a very convenient way to do your business purchases will be independent of your personal expenses. This way, if the IRS comes knocking, you will not have any financial cross-pollination that could get you into trouble.

Maintaining accurate records of business purchases are also very important when running a strong business. Most business credit cards have detailed reporting of your expenses , allowing you to get a handle on the company's finances. These reports provide a breakdown of purchases serious things you have done for your business and can be a great help to your accountant or bookkeeper.

One thing to consider is that business cards are are not protected by the CARD Act adopted in 2009 (consumer cards though). This means, among other things, the business credit card issuers are not required to give you advance notice of rate increases, and they are able to charge you a fee payment or overlimit fees from your Credit limit. It should not put you off business credit cards because they are a convenient method of manufacturing and accounting for purchases while earning extra rewards, but it is something to keep in mind.

For more information, click here to read our reviews of business credit cards and apply for the one that best suits your needs.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and has not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but the terms and conditions of card can change at any time. This site may be compensated by the sending credit card affiliate program.