A business credit card could be a very useful tool when you are just starting on your side hustle. If you are making T-shirts and selling them or have a E-commerce shop or a dog walking business you may want to look at getting yourself a business credit card. Not only do they have higher credit limits when opening the account but it helps keep track of all of your expenses when it comes to tax season. Most banks have tools on there website to help you categorize and keep track of how your business is doing for you. Another plus side is that this account does not affect your personal credit score. Your business is its own entity with its own score now.
These are some of the top rated cards currently on the market.
Chase Ink Unlimited Business
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- High rewards rate
- No annual fee
- Intro APR period on Purchases
Cons
- Has foreign transaction fee
The capital One Spark Cash For Business
- Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
- Purchase above your credit limit with no hassle and no over-limit fees
- $0 annual fee for the first year; $95 after that
- Free employee cards, which also earn unlimited 2% cash back on all purchases
- $0 Fraud Liability if your card is lost or stolen
- Rewards won’t expire for the life of the account, and you can redeem your cash back for any amount
- No foreign transaction fees
Pros
- High rewards rate
- No foreign transaction fee
Cons
- Has annual fee
- High APR
American Express Blue Business Cash
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% — 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee.
- Terms Apply
Pros
- High rewards rate
- No annual fee
Cons
- Annual spending cap
