The 10 Best Credit Cards for Small Businesses
Small business owners are often tempted to use their personal credit cards rather than go to the bother of finding a card that’s specially designed for small businesses. Sometimes, they do it simply because they think it’s easier. Other times, it’s because they either don’t know that credit cards for small businesses exist or have no real idea of what they should be looking for when filtering through the options. In essence, the process of selecting a small business credit card is much like the process of selecting a card for personal use, with things like APR, annual fees, and payment terms all being important things to watch out for. That said, there are a few additional factors to consider… key to which is the type of rewards you stand to benefit from when you sign up. Find out more with our pick of the top ten credit cards for small businesses.
1.The Business Platinum Card from American Express
First up we have the Business Platinum Card from American Express. While the card does come with a hefty annual fee of $595, use the benefits package wisely and you’ll soon be reaping the rewards. In addition to receiving a sign up bonus of 50,000 points if you spend $10,000 in the first three months (plus another 25,000 points if you spend $20,000), you’ll also get a $200 annual airline fee credit, up to $100 in statement credits semiannually, access to Centurion and Priority Pass lounges, 5 x points per $1 on airfare and hotels, 1.5 x points on purchases exceeding $5000 and 1 x point on everything else. With the total value of the benefits package equating to $1000, that annual fee seems a lot less off-putting than first thought.
2. American Express Business Gold Card
With a generous benefits package (including a sign up bonus of 35,00 points when you spend $5000 in the first three months after account opening, 4 x points on the first $150,000 you spend in the first year on your top two purchasing types, no foreign transaction fees, 25% rebate on airfare, travel accident insurance, baggage insurance, car rental loss and damage insurance, and roadside assistance, plus 1 free year of both G Suite Basic and ZipRecruiter Standard) and a reasonable annual fee of $295, the American Express Business Gold Card makes a very solid addition to our list.
3. Chase Ink Business Preferred Credit Card
Chase carries a number of great reward cards for individuals, and its offerings for businesses are equally attractive. The Chase Ink Business Preferred Credit Card comes with an attractively low annual fee (just $95), no foreign transaction fees, a membership program that will reward you with 3 Ultimate Rewards points per dollar on the first $150,000 spent in the first year on travel and eligible business expenses, no foreign transaction fees, additional cards for employees at no extra cost, and a range of consumer protection plans such as primary rental car insurance and cell phone insurance.
4. Southwest Rapid Rewards Performance Business Credit Card
The annual fee of $199 for the Southwest Rapid Rewards Performance Business Credit Card is well worth the spend when you consider its benefits package adds up to a total value of $1200. In addition to a generous membership program (expect 3 x points per $1 spent with Southwest and its partners, 2 x points per $1 spent on internet and phone services, and 1 x point per $1 spent on all other purchases), you’ll also stand to benefit from a sign up bonus of 80000 points after spending $5000 within the first three months, four A1-A15 boarding passes per year, up to 365 $8 Inflight Wi-Fi credits per year, and the chance to add additional employee cards at no extra charge.
5. Delta Reserve for Business Credit Card
The current bonus value of the Delta Reserve for Business Credit Card isn’t the highest at $489, but it’s still a solid option if you’re a frequent customer of Delta. As well as giving you Delta Sky Club access, it also offers 2x miles on Delta purchases, 15,000 MQMs and 15,000 redeemable miles after you spend $30,000 (or 30,000 MQMs and 30,000 redeemable miles after you spend $60,000), plus no foreign transaction fees. On the downside, the annual fee of $575 is among the highest of the cards in this category.
6. CitiBusiness AAdvantage Platinum Select World Elite Mastercard
If you’re a frequent flyer with American Airlines, the CitiBusiness AAdvantage Platinum Select World Elite Mastercard is a good option to consider. Sign up and spend $3000 within the first 3 months, and you’ll automatically qualify for 60000 miles. Continue using the card for your purchases and you’ll earn 2x AAdvantage miles on American Airlines purchases, phone, internet and TV providers, car rentals and gas stations, and 1 x mile on all other purchases. Other benefits include free checked bag + priority boarding for you and 4 companions, no foreign transaction fees and the chance to waive the $99 annual fee for the first year.
7. Southwest Rapid Rewards Premier Business Credit Card
Another option for Southwest customers comes with the Southwest Rapid Rewards Premier Business Credit Card. With a $99 annual fee and a benefits package that equates to around $900, it’s certainly an attractive proposition. Expect to receive 60,000 points after spending $3,000 in the first 3 months after account opening, a generous loyalty program, no foreign transaction fee, and additional employee cards at no extra cost.
8. Gold Delta SkyMiles Business Credit Card from American Express
Sign up to the Gold Delta SkyMiles Business Credit Card from American Express and you stand to earn 30,000 bonus miles after spending $1000 in the first three months (plus a $50 statement credit if you make a Delta purchase within that period), no foreign transaction fees, a 20% discount on purchases you make onboard, and priority 1 boarding.
9. Platinum Delta SkyMiles Business Credit Card from American Express
If you’re aiming to achieve your Delta Elite Medallion status, the Platinum Delta SkyMiles Business Credit Card from American Express can help get you there thanks to its generous sign-up and loyalty points program. The other benefits are largely focused around travel perks, and include no foreign transaction fee, free checked bag and priority boarding for you and up to 8 companions, 20% statement credit when you use your card for Delta inflight purchases, and a 50% discount on Sky Club airport lounge passes for you and up to two companions.
10. Hilton Honors American Express Business Card
With a current bonus value of $780 and an annual fee of just $95, the Hilton Honors American Express Business Card makes a solid option for small business owners looking for a card that rewards them for travel. Key benefits include no foreign transaction fees, complimentary Hilton Honors Gold Status, travel protection, and a generous membership rewards program.