Finance   02/05/18

The Best Credit Cards for Small Business Entrepreneurs

Amanda Rae

If you are a small business owner, having the right credit card is important. Everyone knows that regular credit cards have incentives or rewards built into them such as cashback on purchases or the ability to earn travel miles. What you might not know, however, is that there are credit cards specifically for small business entrepreneurs. The rewards from these cards are similar, but they’re directed towards your business — some rewards being sign up bonuses, the ability to earn cash back on business purchases, and potentially booking business travel for free. All credit cards are not created equal. The factors include annual percentage rates (APR), annual fees, cash back rates, and what categories of spending apply for cash back. Unfortunately, the list goes on and on, becoming ever more complicated. Trying to decide which card is right for your business can seem almost impossible, but fortunately many people have studied these cards and their benefits before you. Discussed below are 3 of the highest rated credit cards for small business entrepreneurs.


Ink Cash Business Credit Card from Chase


The cash back rewards from this card are pretty great. Different purchases have different cash back return rates. You earn 5% on some select purchases, 2% on some others, and finally, 1% on everything else. There is also a $200 cashback bonus for new cardholders that you can earn if you meet their criteria.


Besides very reasonable APR this card has some pretty cool business benefits. They include employee cards at no additional cost, the Ink mobile app, purchase protection, extended warranty protection, and auto rental collision damage waiver.


Spark Miles for Business from Capital One


This card is awesome if you frequently travel for business. It lets you earn unlimited 2X miles on every business related purchase. You also have the ability to receive a one-time bonus of 50,000 miles if you meet the spending requirements. It’s got to feel kind of cool knowing that the toilet paper you’re buying for the office will help pay for your business trip to Thailand.


SimplyCash Plus Business Credit Card from American Express


This card also has excellent cash back rewards. It has a 5%, 3%, 1% progression, each with their own restrictions. One of the biggest benefits of this card, however, is the buying power. You can buy above your credit limit and get cash back on those purchases as well. The utility of this function becomes apparent when you consider some of the expensive purchases that frequently come with running your own business.


When choosing a business credit card you need to consider where you spend most of your money. If one of your biggest expenses is airline tickets for work travel than a card like Spark Miles for Business is right up your alley. If on the other hand you run a coffee shop and need to buy a $10,000 espresso machine then you should think about getting a card with purchasing power and great cash back rewards. Know your needs, know your options, grow your business.