Uncover the Top-tier Credit Cards Elevating Small Businesses in 2021!
Credit Cards
Best Credit Cards for Small Businesses (2021)
If you run a small business or work as a freelancer, keeping your personal and work finances separate is crucial. Blurring these lines, like using one credit card for both business expenses and personal use, can become confusing fast.
Getting a business credit card simplifies things, especially during tax time. These cards keep your records clear and help you maximize your business expense deductions. Plus, you might be able to earn more cashback and other rewards. Many cards offer sign-up bonuses that can be pretty attractive.
Here are our top picks for small business credit cards:
1. Chase Ink Business Preferred: This card charges a relatively low annual fee and offers a sign-up bonus that quickly makes up for this cost. It features excellent redemption offers and speedy point-earning potential. When you spend $15,000 in the first three months, you get a bonus of 100,000 points – equivalent to $1,250 for travel or $1,000 in cash.
2. Chase Ink Business Unlimited: A good choice if you’re looking for a business card with no annual fee. This card offers simple and straightforward rewards – 1.5% cashback on every purchase, with no need to remember rotating categories or different reward tiers.
3. Chase Ink Business Cash: This card offers versatile rewards, no annual fee, and a low APR. It’s an ideal pick for small businesses interested in flexible rewards for business spending.
4. American Express Business Gold Card: Geared towards small businesses, this card rewards generous points and perks. However, it comes with a $295 annual fee – higher than many business credit cards – but you could offset this with a good rewards package.
5. Business Platinum Card from American Express: Perfect for business owners who frequently travel, this card offers fantastic rewards that are well worth the annual fee of $595.
6. American Express Blue Business Cash Card: Suitable for small businesses with lower expenses, this card charges no annual fee and offers 2% cashback on all purchases up to $50,000 per year.
7. Southwest Performance Business Credit Card: A good option for business owners who frequently fly on Southwest Airlines.
8. CitiBusiness AAdvantage Platinum Select Mastercard: Great for business owners that frequently fly with American Airlines.
Remember, the best credit cards for small businesses reward you based on your spending habits. Consider where most of your business spending goes, if your spending can justify an annual fee, and whether you’d prefer points, travel rewards, or cash.
The right small business credit card provides valuable benefits, perks, and options that reward your typical business spending. They also help separate your business and personal spending, making it easier to track your transactions and simplify your accounting. Make sure the card you choose offers the most benefits based on your regular business spending – don’t fall into the trap of getting a card that requires you to change your spending habits to get rewards.
