Running a small business is hard work! I know firsthand because I do so myself. When you're wearing so many different hats, every minute and every dollar is incredibly precious. Having a reliable credit card and ways to earn rewards fast are essential. If you’re looking for a small business credit card today, you’re in the right place. I'm highlighting the top 3 card offerings in this best small business credit cards review and emphasizing important features to make your decision easier.
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Benefits Of Small Business Credit Cards
Whether you're opening your very first business account or looking for a new one, there are several benefits to note of having a reliable small business credit card.
- Earn rewards that best fit your needs: cash back, travel, gift cards, etc.
- Improves organization and separates business expenses from personal
- Builds credit history for your business
- Responsible use can help you get approved for business loans
- Easier to set and monitor limits on employee spending
- Business cards typically have higher credit limits
- Some small business credit cards offer longer billing cycles up to 60 days
Top 3 Best Small Business Credit Cards Review
With so many credit cards out there, it can be overwhelming trying to find the best one for your small business. Fortunately, I've narrowed down the best small business credit cards to the below top three selections.
These top 3 best small business credit cards are all with reliable institutions. They have dependable customer service and are highly well rated among cardholders. In addition, they offer strong rewards programs, built-in protections, personalized controls and alerts, great introductory bonuses, and more.
Chase Ink Business Cash Credit Card
I've been a cardholder of the Chase Ink Business Cash Credit Card for over 10 years. It's reliable, the rewards system is easy to use, and best of all I've earned thousands of dollars in cash back rewards.
- Get $750 cash back if you spend $7,500 in the first three months
- 0% intro APR for the first year on purchases
- Earn 5% cash back on office supplies, internet/cable/phone each year ($25,000 combined limit)
- 2% cash back rewards on gas and restaurants each year ($25,000 combined limit)
- 1% on all other purchases, unlimited rewards
- No annual fee to worry about
- Employee cards are free
- Set personalized account alerts and spending limits for each employee
- Flexible rewards can be redeemed for cash, travel, gift cards, Apple purchases and more
- Built-in fraud and purchase protections covering newly bought items for 120 days against damage or theft (up to $10,000 per claim and up to $50,000 per account).
- As a cardmember you’ll also enjoy extended warranty for eligible purchases, as the card extends the US manufacturer’s warranty by an additional year (on eligible warranties of three years or less).
- A final perk of holding the Ink Business Cash Card is that it offers an auto collision damage waiver. Essentially, when you rent a car for business purposes and charge it to this card, you can decline the rental car company’s collision insurance and be covered by the card in the case of theft or collision damage. This is valid on most rentals both in the US and abroad — make sure to check the fine print for more details.
Chase Ink Business Unlimited Credit Card
If you prefer earning unlimited rewards, the Chase Ink Business Unlimited Credit Card is a great option. It boasts many of the same perks as the Ink Cash card.
- Get $750 cash back if you spend $7,500 in the first 3 months
- Earn unlimited 1.5% cash back on all purchases
- Enjoy a 0% intro APR for the first 12 months
- No annual fee to worry about
- Employee cards are free
- Flexible rewards can be redeemed for cash back, travel, gift cards, Apple purchases, and more
- Rewards don’t expire if your account is active
- Built-in purchase, travel and fraud protections
- Set personalized account alerts and employee spending limits
Chase Ink Business Preferred Credit Card
Another popular unlimited cash back small business credit card is the Chase Ink Business Preferred credit card. I've been a loyal customer of Chase for over 10 years. I'm a big fan of their product offerings and customer service.
- Earn 100,000 bonus points after spending $15,000 in the first 3 months (that’s $1,250 in redemption value in the Chase Ultimate Rewards® portal
- 3X points on the first $150,000 spent on travel and select business categories.
- 1X points on all other purchases with no limit
- No foreign transaction fees
- A point redemption value of 1.25x per point through the Chase Ultimate Rewards® portal (e.g. 50,000 points x 1.25 = $625 in redemption value)
- Points don’t expire as long as your account is active
- Employee cards at no additional cost
- $95 annual fee
Get The Best Business Credit Card For Your Business
When it comes to running your business, owning a business rewards credit card makes a ton of sense. Not only do you want to separate your business expenses from your personal expenses, you want purchase protection, travel insurance, business car rental insurance, and a bunch of rewards to help your business save!
After using the Cash Ink Business Cash credit card for 10 years, I'm personally signing up for the Chase Ink Business Unlimited credit card for 2021 and beyond as my business grows. Further, I want the $500 sign-up bonus for only spending $3,000 within the first three months.
Pay Off Your Debt Faster
If you don’t have enough cash, getting a personal loan from Credible is a good place to start.
Personal loan rates have come down significantly in comparison to the average credit card interest rate. Thus, if you have expensive credit card debt, consider consolidating your debt into a lower interest-rate personal loan.
Credible has the most comprehensive marketplace for personal loans. Up to 11 lenders compete for your business to get you the best rate. Get real personal loan quotes in just two minutes after you fill out an application. Check out Credible today and see how much you could save.
For further suggestions on saving money and growing wealth, check out my Top Financial Products page.
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About the Author: Sam worked in investment banking for 13 years at Goldman Sachs and Credit Suisse. He received his undergraduate degree in Economics from The College of William & Mary and got his MBA from UC Berkeley. In 2012, Sam was able to retire at the age of 34 largely due to his investments that now generate roughly $250,000 a year in passive income. His main passive income focus is on real estate crowdfunding to take advantage of cheaper valuations and higher cap rates in the heartland. He spends time playing tennis and taking care of his family.
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