4 Business Credit Cards for Newbies

4 Business Credit Cards for Newbies

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Starting a business is an incredible challenge. Aside from serial entrepreneurs, most small business owners must create their company’s infrastructure from scratch including payroll, accounts receivables, human resources and more. And when it comes to credit cards, new business owners are faced with a wealth of choices.

What New Small Business Cardholders Should Look For

New small business cardholders will want to start with a simple business credit card that meets their basic needs. The primary function of a small business card is to make business purchases that are separate from your personal expenses. Small business cards can offer additional bonuses, like reporting features that make it easier to plan, budget, and prepare your taxes, and they can help you establish business credit (and build it if you make on time payments). Also, a good small business card should offer additional cards for employees at no cost.

A small business card can be a means to finance purchases. If you’ll be relying on this capability, then your card should have a low standard interest rate, and possibly a promotional financing offer. But as with any credit card, the key to controlling your costs is to minimize the amount of debt that you carry.

Finally, a small business credit card can offer valuable rewards in the form of points, miles or cash back. If you’re a first time business credit card user, you should be content to earn cash back while avoiding the confusing reward programs offered by airlines and hotels.

4 Small Business Cards to Consider

1. Capital One® Spark® Cash Select for Business

Capital One® Spark® Cash Select for Business

Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your Learn More

Here’s a card that has many of the qualities that a new small business owner would look for. It has no annual fee and offers unlimited 1.5% Cash Back on every purchase, every day.. New cardholders can also earn $200 Cash Back once you spend $3,000 on purchases within 3 months from account opening.

You can also order additional employee cards a no cost. This card comes with a 0% on purchases for 9 months introductory financing offer , and the standard rate will be 14.74% - 22.74% (Variable) APR after that, based on your creditworthiness. Other benefits include quarterly and year-end summaries, purchase security and extended protection policies, and no foreign transaction fees. (Editor’s note: This credit card offer was updated June 29 to reflect new terms.)

2. Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card

Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account Learn More

This is the entry-level card offered in Chase’s Ink line of business cards, and it’s perfect for new small business owners. It offers the chance to Earn 5% cash back in select business categories. This applies to your first $25,000 spent each card anniversary year in combined purchases at office supply stores and on cellular phone, landline, Internet and cable TV services.

There’s a $0 annual fee for this card, but it still offers many of the other features found on other Ink cards. You can order employee cards at no additional cost, and you can use the Ink app to download your receipts, tag your purchases and create reports. It also includes extended warranty coverage, a purchase protection policy, baggage delay insurance and lost luggage reimbursement.

3. U.S. Bank Business Platinum

U.S. Bank Business Platinum

0% Intro APR* on purchases and balance transfers for the first 12 billing cycles. No annual fee*. Learn More

This is a simple small business card which includes an outstanding promotional financing offer. New applicants receive 12 months of 0% APR financing on both new purchases and balance transfers, followed by a standard APR of 10.74% – 18.74%, based on your creditworthiness. It also offers you free employee cards and the ability to download a year-to-date summary or an annual account summary. There’s no annual fee for this card.

4. SimplyCash® Plus Business Credit Card from American Express

SimplyCash® Plus Business Credit Card from American Express
American Express is a Nav Partner
Terms, Rates & Fees

SimplyCash® Plus Business Credit Card from American Express

Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that Learn More

American Express currently offers 11 different credit and charge cards for small business owners, but this is one of the simplest. It offers you 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. 3% on the category of your choice from a list of eight and 1% cash back on other purchases. 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% thereafter. Cash back received is automatically credited to your statement..

Benefits include a baggage insurance plan, purchase protection, extended warranty coverage, and additional employee cards at no cost. You can also use the ReceiptMatch app to help track your expenses, and account alerts to be notified of employee spending. There’s no annual fee for this card.

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About the Author — Jason Steele is an expert in the credit card industry. He is frequently quoted in national media and his work is regularly featured by mainstream outlets such as Yahoo! Finance, MSN Money, and Business Insider.

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