In 2011, I started my very first (official) small business and also opened my first business credit card. My personal credit wasn’t very good, so the only issuer that catered to my credit score was Capital One and I opened the Capital One Spark for Business. I’ve since been able to build my credit and was recently approved for the Business Gold Rewards Card from American Express OPEN.
You’ll find both of those cards on the long list of best business credit card of 2013. The credit (and charge) cards listed below include a wide variety of fee options, rewards and spending perks so if you own a business and are in need of a business credit card, I’m very certain you can find a card that caters to your business spending habits just by scrolling down.
CompareWallet.com’s Best Small Business Credit Cards
Ink Cash® Business Card – Chase loves to give out the big up front bonuses for new cardholders and the Ink Cash Business Card is no exception. New cardholders will earn a $200 cash bonus after spending $3,000 in the first three months. 5% cash back can be earned on the first $25,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services. Additionally, 2% cash back can be earned on the first $25,000 spent annually at gas stations and restaurants, and 1% cash back can be earned on all other purchases. There is no annual fee to own the Ink Cash Business Card and it includes a 0% intro APR on purchases and balance transfers for 12 months.
Capital One® Spark® Cash for Business – If cash back is what you’re after, the Capital One Spark Cash for Business is your best bet. Earn 2% cash back on every purchase, every day AND a $250 cash bonus after you spend $5,000 in the first 3 months of card ownership. An additional $50 bonus is awarded after you sign up for one or more employee credit cards and the variable APR is 13.9% – 20.9% (V). The one downside to this card is that it carries a $59 annual fee, but the silver lining here is the fee is waived for the first year.
The Plum Card from American Express OPEN – A staple of American Express, the Plum Card from American Express OPEN offers the simplest of rewards programs. Cardholders will receive 1.5% cash back on payments made when the payment is made within 10 days of the statement due date. There is a very large $250 annual fee, which is kindly waived the first year and even though this is a charge card, American Express will allow you up to 60 days to pay off the full balance. All of the big time customer perks are included with the Plum Card from American Express OPEN. *Terms and limitations apply.
Capital One® Spark® Miles for Business – A mirror image of it’s cash counterpart, the Capital One Spark Miles for Business is the perfect fit for a business that finds itself on the road often. 2 miles are earned on every dollar spent, no matter the purchase, which provides the best return for a travel business card. There is a 25,000 mile bonus for new cardholders that spend $5,000 in the first three months and another 5,000 bonus miles are available when you add an additional cardholder to your account. The ongoing purchase APR is 13.9% – 20.9% (V) and again, the $59 annual fee is waived during the first year.
SimplyCash Business Card from American Express - Another excellent offering from American Express, the SimplyCash Business Card from American Express is a business credit card offering 5% cash back on select office purchases, 3% cash back on a category of your choice, and 1% cash back on other purchases. This card comes with 0% intro APR on purchases for 9 months, with an on-going APR of 12.24% – 19.24% variable. *Terms and limitations apply.
CitiBusiness ThankYou® Card- Citi makes an appearance on our list with the Citi Business ThankYou Card. Earn 15,000 bonus ThankYou® points after you make $3000 in purchases within 3 months of cardmembership – enough for $150 in gift cards. Citi also offers up a 0% intro APR on Purchases for 6 months. After that, 13.24% variable. It’s rewards program provides triple ThankYou points on all eligible purchases on rotating quarterly categories and unlike many cards on this list, you won’t find an annual fee on the Citi Business ThankYou Card.
Capital One® Spark® Classic for Business – As mentioned above, this was my very first business credit card, and it’s designed for people and businesses with less than excellent credit (the only card on our list with this distinction). The rewards program on the Capital One Spark for Business is not as strong as others, but 1% cash back on all purchases is still very respectable. Perhaps the biggest benefit of the Capital One Spark Classic for Business is that it does not charge an annual fee, but the purchase APR is a very high at 22.9% variable.
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*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.