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Business credit cards are one of most popular forms of business financing currently available. They’re easy to use, (sometimes) easier to qualify for, and are a great way to establish and build business credit (check your score for free with Nav.) Chances are, if you have a business credit card, that you receive a variety of rewards for using it. These rewards can be quite lucrative if you use your card correctly, and could even help your business. Here are some common business credit card rewards and how they can help grow your business.
1. Cash Back
One of the most common business credit card rewards is cash back. Certain cards may offer a welcome offer that promises cash back after you spend a certain amount of money within six months or a year of opening the card. The benefits of this are pretty plain and simple; getting cash back simply for spending money can go back to your bottom line and help you get over the humps that so often show up for small business owners.
For example, the offers That means your business earns cash simply for spending on the things you already need.
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SimplyCash® Plus Business Credit Card from American Express
2. Airline Miles and Hotel Points
Perhaps one of the more sought-after credit card perks, airline miles can literally get your business off the ground. Sky miles can allow you to spend slow periods for your business traveling to see far-away clients, going to conventions or conferences to network and build your client base, or can help you offer incentives to your employees for excellent performance.
The Card has a great welcome offer to help you earn extra miles. You can earn . After that, you earn
Capital One® Spark® Miles Select for Business
Hotel points can also work as a perk for employees or help you travel and build your business. One example is the coveted .
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Starwood Preferred Guest® Business Credit Card from American Express
3. Business Services
Some cards come with permanent or limited-time offers to download important and helpful business software. Many offer connectability to accounting software like Quickbooks, which can streamline your financial reporting and taxes when the time comes.
4. Customizable Rewards Categories
The amount of cash back or rewards points you receive can and often is contingent upon the rewards categories approved by your card. There are some cards that will give cash back on all purchases, but chances are that the card in front of you has specific categories. Fortunately, there are some that allow you to pick your rewards categories or automatically choose them for you based on your spending patterns. This can allow you to optimize your earning potential by choosing the categories you spend the most in.
By choosing the categories you frequently spend in and the categories most related to the course of your business, you can be rewarded and, in essence, reimbursed by your card for simply going about your business. The new is one such card that automatically chooses your top two rewards categories each month.
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