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If you run a small business, you may rely on cash or use a business checking account for purchases. Occasionally, you may whip out your personal credit card to meet different expenses. While this approach may work, you risk mixing business purchases with personal purchases. For accounting and tax purposes, consider a separate business credit card used exclusively for business purchases.
There are several credit card options for small business owners. And if you have a good personal credit history, a business checking account, as well as a business tax identification number, getting a business credit card may be easier than you think. Don’t select any random business credit card. Compare your options and pick the card with the most usable features. Apply for the right card and you can earn cash back, travel miles and other rewards.
Here’s a list of the best credit cards for small businesses:
Apply for the Capital One Spark Miles for Business credit card and earn 2 miles per every $1. Spend $1,000 within your first three months and earn 10,000 bonus miles. Obtain an employee credit card and receive 5,000 bonus miles. There is no limit to the number of miles you can earn, plus your rewards never expire. Miles can be redeemed for gift cards, merchandise, travel and cash. With no blackout dates, you can schedule flights any time of the year. Pay no annual fee the first year, and then $59 every year thereafter.
Apply for this credit card and receive 5% cash back at office supply stores, 3% cash back at stand-alone gas stations, as well as 1% cash back on all other purchases. Use a U.S. wireless service provider and earn 5% cash back on services. All cash back bonuses are automatically credited to your credit card statement each month. There is no annual fee. Pay 0% interest for the first six to 12 months.
If your small business has an established credit history, apply for the CitiBusiness ThankYou credit card. Spend $3,000 on the card within the first three months and earn 15,000 ThankYou points – equivalent to $150 in gift cards. You’ll earn three ThankYou points for every $1 you spend on eligible purchases. Redeem points for merchandise, gift cards, business supplies, cash and travel. Points never expire and there is no limit to the number of ThankYou points you can earn. There is no annual fee. Enjoy 0% interest for the first six months.
With this credit card, enjoy 0% interest on purchases for the first nine billing cycles, and then pay an interest rate as low as 11.24%. Earn 2% cash back at restaurants, 3% cash back at gas stations and office supply stores, and 1% cash back on all other purchases. There is no limit to how much you can earn in cash back rewards. Request employee credit cards at no additional charge. There is no annual fee.