When you are just starting your journey as a business owner, you will likely come across a number of expenses that you can’t pay for out of your pocket all at once.
Credit cards are a great financial tool to help any growing business obtain the things they need to get started and to get the money flowing.
But, credit cards tend to have a terrible reputation for ruining credit scores and piling up mountains of debt. However, when used responsibly, a credit card can go a long way in helping improve your business’ financial situation.
Credit cards often come with their own interest rates and benefits. Here are a few great credit cards any business owner should consider using:
SPARK BUSINESS CARD | CAPITAL ONE
The Spark Business card is a great find for business owners because it offers unlimited 2 percent cash back. This means that all of your purchases funding your business will help to send even more money back to it.
You can also get the card without an annual fee for the first year. After that, the fee goes up to $95, which won’t be bad when you get your business up and running.
Employee cards are available, which will be great for department heads. The card can help you earn points for rewards that don’t expire for the life of the account in question.
THE BUSINESS GOLD REWARDS CARD | AMERICAN EXPRESS
This card welcomes you with 50,000 membership reward points when you spend $5,000 on the card within your first 3 months of owning it. The card is free for a year, and the annual fee is only $175 a year after that.
The card also comes along with its own expense-tracking tools which can help you to better manage your business’ budget.
BUSINESS EDGE PLATINUM | U.S. BANK
This card comes with 0 percent APR on purchases and balance transfers for the first 12 billing cycles. You can expect no annual fees and free employee cards.
The zero-fraud liability is perfect for business owners who are worried about their card being stolen. U.S. Bank protects your transactions and shields you against unauthorized transactions.
INK BUSINESS CASH CREDIT CARD | CHASE
This card comes with a ton of perks.
To begin, you can expect to get $500 cash back when you spend $3,000 in the first three months after your account is open. You will earn 5 percent cash back on the first $25,000 you spend on internet, cable, phone services, and in office supply stores. You can earn up to 2 percent cash back on the first $25,000 you spend at gas stations and restaurants. These cash back offers are awarded on the anniversary of the accounts opening.
You will also have 0 percent APR for 12months on purchases and balance transfers and you can get employee cards at no additional cost.
As you can see, there are a lot of options when it comes to credit cards for your business. Find one that offers rewards and has a low interest rate.