Whether you invest in real estate or work to help others find the perfect home, having a good credit card can help you get rewarded for your everyday business expenses. Every real estate business is different, however, so there’s no one best card for everyone, especially because agents and investors tend to have different types of expenses.
To help you find the best credit card for your business, we’ve put together a list of our top choices based on how they can provide more value to your bottom line
4 Best Business Credit Cards for Real Estate Agents & Investors
As you compare these and other top business credit cards, consider what your specific expenses and needs are. Also, consider your personal preferences with various features, such as interest rates, fees, and card benefits.
1. Best for fixer-uppers: Lowe’s Business Rewards Card from American Express
If your real estate investment business involves fixing up and flipping houses for a profit, the Lowe’s Business Rewards Card from American Express is worth considering. The card offers 5% off of eligible purchases at Lowe’s stores, Lowes.com, and LowesForPros.com.
This card also offers 5,000 Lowe’s Business Rewards points after you spend $100 in the first 30 days, plus an introductory 0% APR promotion on purchases for six months, giving you time to finance a large project and pay it off interest-free.
Unlike many store credit cards, this one isn’t a one-trick pony. In addition to the 5% discount, you’ll also earn:
- 3 points per dollar spent at restaurants and office supply stores in the U.S., and on wireless telephone services purchased directly from U.S. service providers.
- 2 points per dollar spent at Lowe’s.
- 1 point per dollar on all other purchases.
You can redeem your points for Lowe’s, Outdoor Rewards, and American Express gift cards. Also expect to get access to Lowe’s ProServices, which offers discounted delivery, and bulk rate pricing.
2. Best for gas: Sam’s Club® Business Mastercard®
Whether you’re an agent or an investor, you may spend a lot of time in a car driving to view various properties. With the Sam’s Club® Business Mastercard®, you’ll get 5% cash back on eligible gas purchases on the first $6,000 spent each year, then 1% after that.
You’ll also earn 3% cash back on dining and travel, and 1% back on all other purchases. The card doesn’t have an annual fee, but you do need to be a Sam’s Club Business membership to have the card, which costs $45 per year.
The good news is that you don’t have to shop at Sam’s Club to use the card. And if you spend enough on gas, you can easily make up for the card’s unofficial annual fee.
3. Best for a high rewards rate:
. American Express Membership Rewards points can be particularly valuable if you transfer them to the program’s partner airlines and hotels.
The card also provides an introductory APR promotion of . So if you’re planning a big makeover project or have some startup costs for your agency, you’ll have plenty of time to pay off the purchases interest-free.
The card has a credit limit, but you may be able to spend beyond it without fees or penalties. You also won’t pay an annual fee, and you’ll get access to some tools to help with your accounting and expense management.
4. Best for fair credit:
If you have fair or average credit, you’ll have a hard time getting a good business credit card. Most of them require good or excellent personal credit to get approved.
With the however, you can qualify without a stellar credit history. The card is tailored for business owners who have defaulted on a loan in the past year, or have a limited credit history (less than three years).
The card doesn’t charge an annual fee, and also offers . While that doesn’t stack up well against our other top choices, it’s decent as you’re working to rebuild your credit history. It also doesn’t have an annual fee.
The only major drawback is that Capital One reports business credit card activity to both the commercial and consumer credit bureaus. So if you misuse the card or rack up a high balance, it could damage your credit even more.
But if you use the card responsibly and keep your balance relatively low, it could help you cover your expenses while you build credit.
Which card should you choose?
As you compare these and other business credit cards and see what features they offer, you’ll probably get an idea of what you want in a card. As you consider your preferences, biggest expenses, and personal credit score, you’ll have an easier time narrowing the field down to one choice.
While picking the right card is important, though, don’t spend more time on it than you need to. Over time, your preferences, expenses, and credit may change, and the card you choose may no longer be the best one for your business. Choose the card that’s right for you now, then make changes later if you need to.
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