As a small business owner, you know how important it is to have access to funds when you need them. When you allow your customers to pay on account, you often have to survive without the capital you’ve already earned for as long as sixty days. Since lenders have some of the strictest terms for both new and seasoned small businesses, finding and qualifying for business loans can be extremely difficult.
That difficulty is why small business credit cards have become the most practical alternative to business loans, invoice factoring and other financing options. To help you out, we’ve researched and compiled which credit cards offer the best bonuses and advantages for business owners like you:
True Earnings Business Card (American Express)
You don’t have to be an extravagant spender to get an American Express card that offers bonuses. The True Earnings card is a great AmEx card for business owners who appreciate tiered cash back systems. You can earn 4 percent back on gas purchases, 2 percent on travel expenses and 1 percent on everything else. With this card, you can actually earn money when you pay for business expenses.
Ink Cash Business (Chase)
Chase offers the Ink Cash Business card for small business owners who want to make money off of their purchases. You will get $100 when you make your first purchase on the card, and then more bonuses when you reach $5000 in purchases within the first 3 months of activation. You can also earn 5 percent on all business related purchases, including payments to service providers.
The SimplyCash Card (American Express)
If you’re looking for a long, zero interest period, the SimplyCash card may be perfect for you. Not only will you save on interest for a full 12 months, but you also can take advantage of the American Express rewards program. Earn 3 percent on gas purchases and 1 percent on everything else. If this sounds too good to be true, you may be really shocked to hear that there’s no annual fee!
The Platinum Plus (Bank of America)
Bank of America has been helping small business owners finance their operations for years. Their Platinum Plus card offers one of the lowest interest rates of all the cards that are available. The low ongoing APR of 9.24% will give you peace of mind if you ever need to use credit but don’t want to pay 15% interest.
Spark Miles (Capital One)
If you travel for business, the Spark Miles credit card is considered one of the best travel cards available. You will enjoy earning 2 percent back to pay for everything from gas to airfare through Capital One’s No Hassle Miles program. Additionally, if you spend $1000 within the first 3 months, you’ll earn an automatic 10,000 mile bonus.
When you compare business credit cards, be sure to consider the advantages and disadvantages of each one. This includes evaluating annual fees, APRs, introductory offers, cash back offers and rewards programs. By choosing the right fit for you and your business, you can get the capital you need to expand your business and succeed!
Tags: business credit cards