Credit Cards

Best small business credit cards: Top picks

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Klaus Vedfelt/Getty Images

Klaus Vedfelt/Getty Images

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Outstanding rewards, low interest rates and versatile redemption options are some of the hallmarks of the best small business credit cards.

These cards also have easy-to-understand rewards systems, an important trait in a card when running a business.

How you spend will determine which card is right for your wallet. If you’re interested in a way to finance your business and maintain working capital, a low interest business card might be best for your situation. But if you’re after perks, and you don’t often carry a balance, a rewards card can be a good fit.

CreditCards.com recently rounded up the best business credit cards for its business card competition, which were then rated by a panel of judges.

RATE SEARCH: Compare Business Credit Cards

Here are the three best small business credit cards and an additional option:

1. Capital One Spark® Cash for Business

The Capital One Spark® Cash for Business card’s simple and generous cash-back rewards program puts it in the top spot.

Highlights:

  • The Spark® Cash for Business offers unlimited 2 percent cash back on every purchase.
  • Cardholders have the opportunity to earn $500 bonus for spending $4,500 within the first three months.
  • The Spark® Cash for Business offers flexible redemption options, allowing you to use your cash back for anything.

Who should get this card: 

The Capital One Spark® Cash for Business is ideal for the small business owner interested in unlimited cash-back earnings, substantial sign-up bonus opportunities and straightforward redemption options. It’s especially useful to big spenders who consistently pay off their balance in full. Monthly spending of $10,000 could earn you yearly cash-back rewards of $2,400. This card also comes with quarterly and year-end summaries.

While the rewards are substantial with the Spark® Cash for Business, this card doesn’t have a zero-percent intro period, making it tough to finance large purchases without paying hefty interest fees. And if you’re looking for rewards in specific spending categories, there are better options out there.

There’s a $59 annual fee for the Spark® Cash for Business. It has a variable APR of 17.49 percent.

 

RATE SEARCH: Compare Business Credit Cards

2. The Chase Ink Business Preferred 

Its substantial sign-up bonus and generous rewards put the Chase Ink Business Preferred as second on CreditCards.com’s list.

Highlights:

  • The Chase Ink Preferred offers three points per $1 on the first $150,000 spent on combined travel, shipping purchases, internet, cable and advertising purchases made on social media and search engines each anniversary year.
  • You can earn one point per $1 spent on all other purchases.
  • This card offers a generous 80,000 bonus points for spending $5,000 in the first three months, which is worth up to $1,000 in travel rewards when redeemed through Chase Ultimate Rewards®.

Who should get this card: 

This card is worth consideration for small business owners who spend heavily on the Chase Ink Preferred card’s bonus categories — office supplies, telecom services, gas and hotels. And with no foreign transaction fees and trip cancellation insurance, it’s also great for small business owners who travel.

But if you don’t plan on frequently spending in this card’s bonus categories, it may not benefit you much. It has a variable rate between 16.49 percent and 21.49 percent. The annual fee is $95.

 

3. Starwood Preferred Guest® Business Credit Card

The Starwood Preferred Guest® Business card backed by American Express comes in third on the list. It stands out as a travel card for small business owners.

Highlights:

  • The Starwood Preferred Guest® card offers two points per $1 on eligible Starwood purchases, making it a top card for those who frequently travel for business and stay at Starwood hotels.
  • For regular purchases, the Starwood Preferred Guest® card offers one point per $1.
  • If you spend $5,000 within the first three months, this card offers the opportunity to earn 25,000 bonus points.

Who should get this card: 

The Starwood Preferred Guest® Business card is undeniably ideal for the frequent business traveler. If you’re looking for a card that offers upscale hotel options and flexible reward redemption choices, this might the one for you.

It comes with a long list of travel partners and perks. Travel-friendly perks include free hotel Internet access, free Boingo Wi-Fi, premium travel insurance and access to Sheraton Club lounges at select hotels. You can also transfer points to a wide range of frequent flier programs.

But while this card offers access to more than 1,200 hotels and resorts worldwide, you may find you’re limited in hotel options. It’s best to make sure you’ll be able to use this card in the areas you frequent most. The Starwood Preferred Guest® card has a $95 annual fee, which is waived for the first year. It has a variable APR of 15.74 percent, 17.74 percent or 19.74 percent.

 

4. Business Gold Rewards Card from American Express

While it didn’t make CreditCards.com’s list of the best business credit cards, the Business Gold Rewards card from American Express did make its list of the best overall credit cards. And it’s easy to see why. This card offers oustanding points rewards and a nice sign-up bonus opportunity.

Highlights:

  • The Business Gold Rewards card offers three times the points on the category of your choice — airfare purchased directly from airlines, U.S. advertising purchases in select media, U.S. purchases at gas stations, U.S. purchases for shipping or U.S. computer hardware, software and cloud computing purchases from select providers.
  • This card offers double points on purchases for the other four categories and single points on all other purchases.
  • The Business Gold Rewards card offers the opportunity to earn 50,000 Membership Rewards® after spending $5,000 within the first three months of account opening.

Who should get this card: 

For business owners who frequently shop in this card’s categories, this card can be a great choice. Points can be redeemed for travel, merchandise and entertainment from over 500 brands. It also has no preset spending limit, helping to fund business purchases for equipment, raw materials, inventory and wholesale goods.

The $175 annual fee on this card is waived for the first year. The standard APR is 18.74 percent.

 

RATE SEARCH: Compare Business Credit Cards

The Best Small Business Credit Cards
Card Rewards APR
Capital One Spark® Cash for Business Unlimited 2 percent cash back on every purchase 17.49 percent variable
Chase Ink Business Preferred Three points per $1 on business purchases 16.49 percent and 21.49 percent variable
Starwood Preferred Guest® Business Two points per $1 on eligible Starwood purchases 15.74 percent, 17.74 percent or 19.74 percent variable APR
Business Gold Rewards card from American Express 3x points rewards on one of five business-related categories 15.74 percent, 17.74 percent or 19.74 percent variable APR

Follow me on Twitter: @MitchStrohm

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