For most small businesses, the key to long-term success depends on good financial management. Whether it’s obtaining capital or accurately monitoring expenses, having the right tools in place can make or break a business. One of the most useful tools available to business owners is a small business credit card. An excellent source of short-term funding, small business credit cards provide a variety of benefits that you won’t find anywhere else. These are our choices for top business credit cards of 2014:
How We Pick the Best Business Offers
The best credit card for your business will have a low APR and a large enough credit limit to accommodate your company needs. For companies that require regular purchasing or employee travel, a business credit card can provide extra savings or airline perks to reduce travel expenses. Since there are several different types of small business credit card, we’ve chosen the top business credit cards in three major major categories: low APR, cash back and airline mile. In each category we’ve evaluated factors such as: interest rates, fees, benefits and reward opportunities.
CitiBusiness ThankYou® Card (Best for Saving)
If your top priority when choosing a card for your business is savings, the CitiBusiness ThankYou® Card offers money-saving rates – and rewards. Enjoy a 0% APR for 6 months on new purchases, a low variable rate, currently 13.24%, and no annual fee. Earn points on all eligible purchases that can be redeemed for cash, merchandise or business expenses, like office supplies or travel. Earn 15,000 bonus ThankYou® points after you make $3,000 in purchases within 3 months of card membership – enough for $150 in gift cards.
The CitiBusiness ThankYou Card has the best of both worlds – a competitive low interest rate and great rewards. Although it’s not the most rewarding business credit card, if you’re looking for a flexible offer providing savings and perks, the ThankYou Card is an excellent choice. More details…
SimplyCash® Business Card from American Express (Best Cash Back)
One of the best business credit cards for earning cash is the SimplyCash® Card from American Express, with its intuitive and easy to use rewards program. A generous 5% cash back savings on all office supply purchases will benefit many small businesses; while the opportunity to save on wireless services is another perk worth considering. Businesses that require employees to travel will benefit from a 3% savings on gasoline, in addition to the 1% cash back on all other eligible purchases. Plus, annual purchases in each category that exceed $12,000 will earn an additional 1% cash back – a great bonus!
The SimplyCash® Card is by far one of the most rewarding offers available – with numerous ways to earn cash. Bonus opportunities fall in categories that are the most beneficial to business owners, making it even easier to cash-in. And with no limits or caps, a 0% APR on purchases and no annual fee, it’s easy to see why this is one of the top business credit cards on the market. More details…
Capital One® Spark Miles Select for Business (Best Airline)
The Capital One® Spark Miles Select Card provides a simple way for business owners to earn miles and save on travel expenses. With initial earnings of 1 mile per dollar on every purchase, what sets this card apart is the 50% annual bonus each year – upping your earnings to 1.5 miles per dollar. The Spark Miles Select Card carries no annual fee to cut into the reward benefits, a money-saving 0% APR on purchases and the opportunity to earn unlimited miles that will never expire.
If you’re looking for a flexible airline card, the Capital One® Spark Miles Select is an excellent choice – allowing you to earn 50% more than most traditional travel cards. A few offers boast higher rewards, but they won’t be as flexible and you’ll end up paying more in fees, deal with annoying restrictions and be limited by complicated program terms. More details…
Don’t Forget About These Benefits!
Although attractive rewards and access to funding are important reasons to consider a small business credit card, for new business owners, the most important benefit may be establishing business credit. Future opportunities may be dependent on your ability to secure funds, increase the work force, purchase inventory etc. Using a business credit card will demonstrate your responsible handling of credit and show lenders that you will be low risk for future loans. In addition, business credit cards simplify money management by providing detailed reports on company spending.
* To compare these and other offers, visit www.wowcreditcards.com