Business credit cards can be a great way to finance your business, earn rewards, and build your credit history. But with so many different cards on the market, it can be tough to know which one is right for you.
Here are a few things to consider when choosing a business credit card:
- Your business needs: What type of rewards are you looking for? Do you need a card with a low interest rate or an introductory APR offer? How much spending do you expect to do on the card each month?
- Your credit score: Your credit score will impact the interest rates and fees you’re offered on a business credit card. If you have good or excellent credit, you’ll likely qualify for the best cards with the most rewards and benefits.
- Your business type: Some /sphinxbusiness.com/ are designed for specific industries, such as travel or retail. If you have a specific type of business, look for a card that offers rewards or benefits that are relevant to your industry.
Once you’ve considered these factors, you can start comparing different business credit cards. Here are a few of the best business credit cards on the market:
- The Ink Business Unlimited® Credit Card: This card offers 2x points on all purchases, no annual fee, and a welcome bonus of 75,000 points after you spend $7,500 on purchases in the first 3 months from account opening.
- The Blue Business® Plus Credit Card from American Express: This card offers 2x points on the first $50,000 spent in eligible purchases on your card each calendar year, and 1x points thereafter, plus 20% points back on prepaid hotels booked through Amex Travel. It also has a 0% intro APR on purchases for 12 months from account opening and a welcome bonus of 20,000 points after you spend $3,000 on purchases in the first 3 months from account opening.
- The Capital One Spark® Cash Plus for Business: This card offers 2% cash back on all purchases, no annual fee, and a welcome bonus of $500 after you spend $4,500 on purchases in the first 3 months from account opening.
No matter which business credit card you choose, make sure you use it responsibly and pay your bill on time each month. By doing so, you can build your credit history and earn rewards that can help your business grow.
Here are some additional tips for using business credit cards wisely:
- Set a budget and track your spending. This will help you avoid overspending and racking up debt.
- Only use business credit cards for business expenses. This will help you keep your personal and business finances separate.
- Pay your bill on time each month. This is the most important thing you can do to build your credit history.
- Take advantage of rewards and benefits. Many business credit cards offer rewards like cash back, points, or miles. These rewards can be redeemed for travel, merchandise, or statement credits.
By following these tips, you can use business credit cards to help your business grow and succeed.
