A business credit card can be a valuable tool for managing your business finances. It can help you earn rewards, build your credit history, and make purchases more convenient. But with so many different business credit cards available, it can be tough to know which one is right for you.
Here are some factors to consider when choosing a business credit card:
- Your spending habits: What types of expenses do you typically incur for your business? Look for a card that offers rewards for the categories you spend the most in.
- Your credit score: Your credit score will affect the interest rate you’re offered on a business credit card. If you have good credit, you’ll be eligible for cards with lower interest rates.
- Your annual fee: Some rarecareer have an annual fee, while others don’t. Weigh the benefits of the card against the annual fee to decide if it’s worth it for you.
- Your business needs: Do you need a card with a high spending limit? Do you need a card that offers travel rewards? Consider your specific business needs when choosing a card.
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:
- Chase Ink Business Unlimited® Credit Card: This card offers a welcome bonus of $750 after you spend $7,500 on purchases in the first 3 months from account opening. It also earns 2x points on all purchases, which can be redeemed for cash back, travel, or other rewards.
- American Express Blue Business® Plus Credit Card: This card offers a welcome bonus of 20,000 Membership Rewards® points after you spend $3,000 on purchases in the first 3 months from account opening. It also earns 2x points on the first $50,000 spent in eligible purchases each calendar year on shipping, advertising, gas stations, and restaurants.
- Capital One Spark Cash Plus®: This card offers a welcome bonus of $500 after you spend $4,500 on purchases in the first 3 months from account opening. It also earns 2% cash back on all purchases.
No matter which business credit card you choose, make sure to use it responsibly and pay your bill on time each month. By doing so, you can build your business credit history and reap the rewards of a business credit card.
Here are some additional tips for using a business credit card wisely:
- Only use the card for business expenses. This will help you keep your personal and business finances separate.
- Set up automatic payments so you never miss a bill.
- Pay your bill in full each month to avoid interest charges.
- Keep track of your spending so you don’t overspend.