The 10 Best Credit Cards for Business owners in 2022| Credit purchases & start up
The ecommerce and small business credit card market is booming, and so is competition in the market. With so many choices in the market, it has become very difficult for users to choose the best deal for their business. So which credit card will you apply for business in 2022? This article looks at how we can narrow down the list of the best business credit cards and outline the top 10 business credit cards in 2022.
Introduction: Why Does a Business owner Need a Credit Card?
A credit card is a convenient and flexible way to make payments and get cash. It is essential for any business because it is the only product that offers a range of benefits specifically designed for businesses. The best credit cards not only offer low-interest rates and no annual fee but also offer rewards, travel benefits, customer service and fraud protection.
Banks offer credit cards to their customers with different features and terms. These credit cards are made for both individuals and businesses. Bank-issued credit cards are best for businesses as they offer payment terms appropriate for the business size.
Like banks, credit card companies also provide many offers to attract new customers. If you are looking to apply for a business card, it is important to compare the following important factors:
1) The APR on purchases
2) The annual fee
3) The rewards offered
4) Travel benefits
5) Any extras like purchase protection or extended warranty
Top 10 Credit Cards for business In 2022
1. American Express Blue Business Cash Card
American Express Blue Business Cash Card is a charge card designed for business users who want to make small to medium-sized purchases.This Amex card has no preset spending limit and allows cardholders to charge up to $50,000 per year. The Card is issued by American Express and can be used at millions of locations that accept American Express and worldwide.
The Blue Business Cash Credit Card from American Express will be a great fit for you if you focus on your business. It is designed especially for your business because it has built-in benefits to help businesses run smoothly.
American Express Blue Business Cash Card has no annual fee, and it comes with other benefits such as a $250 statement credit for purchases on travel booked through American Express Travel Services and a free supplementary Card for employees and family members.
2. Chase Ink Business Cash Credit Card
Chase Ink Business Cash Credit Card has an excellent rewards program, which is about 5% cash back on all purchases (for example, 5% cash back at office supply stores, 5% cash back on cellular phone, wireless and landline services, 5% cash back on internet, cable, and phone services).
It is a great card for a sole proprietorship, a small corporation, a partnership, a limited liability company, a professional association, a corporation, a trust, a non-profit, or a small business. It is not a good card for a large corporation or a small corporation owned by a large corporation.
The Ink Business Cash card is a good card to build your credit if you have a small business. It has a long 0% APR introductory period for balance transfers.
You can redeem the cash back for statement credits, direct deposits, checks, travel, gift cards, and products. Chase Ink Business Cash Credit Card has no annual fee, no foreign transaction fee, and an over-limit fee.
3. The Business Platinum Card from American Express
The Business Platinum Card from American Express card for business is a great card for businesses that do a lot of traveling and reward themselves for their hard work.
It has a $450 annual fee, but it comes with a lot of great benefits such as an annual airline allowance of up to $200 for yourself and your travel companions, complimentary hotel upgrades, trip cancellation insurance, roadside assistance, identity theft protection, an airport concierge program, and other great features.
The Business Platinum Card from American Express card is one of the best cards for business. The reason is that it offers multiple benefits at a very affordable rate. It is a charge card and not a credit card, and hence, it comes with a fixed limit.
This Card is great for someone who travels frequently but can’t necessarily spend a tremendous amount on flights.
4. Delta SkyMiles Gold Business American Express Card
This is not a credit card for just business. American Express issues the Delta SkyMiles Gold Business American Express Card. The credit limit for this credit card is $1,000. The annual fee for this card is $49. The Card comes with a cash advance fee of $10 or 3% of the cash advance, whichever is greater. The late payment fee is $35. Rewards for this Card are 10 miles per $1 spent on Delta Air Lines. One mile is equal to 1 cent.
The Delta SkyMiles Gold Business American Express Card is excellent for frequent fliers who travel through Delta Airlines. Business owners will love the generous introductory offer of 30,000 SkyMiles. Plus, cardholders earn 1 mile per $1 spent, which can be redeemed for dozens of air-travel options or redeemed in cash for Delta Sky Club Access.
You can earn up to 10,000 bonus miles on Delta purchases within the first three months of the opening of this Card. But, this bonus mile offer is not available to current cardmembers of any Delta SkyMiles Credit Card from American Express, any co-branded Delta SkyMiles Credit Card from American Express or a Delta SkyMiles Credit Card from Bank of America.
5. United Business Card
United Business Card, or UBC, is a type of credit card specifically designed for business owners and executives. It is issued by UBS and benefits up to 50,000 miles (up to 25,000 miles and 25,000 bonus miles for qualified applicants).
The Card gives you a free credit score and FICO score and access to United Club’s and Star Alliance’s airport lounges around the globe. The United Business Card is a basic business credit card. No annual fee, reasonable processing fees, reasonable rewards for basic usage.
United Business Card (UBC) can be used at more than 90 locations worldwide. It is accepted at most United MileagePlus® and United Express air and rail travel and car rental locations and most United Club locations. You can use this card at locations that accept the United MileagePlus Explorer Card and Premier Rewards Gold Card.
You can get it by applying through the United Airlines website. Good for basic usage, but if you want to get something better, you can search online for business credit cards. To earn miles, you must charge $20,000 or more per year, each year. If you meet that, you can earn up to 2 miles per $1 spent. UBC is a great product for travelers because you can earn miles for free travel.
6. Capital One Spark Miles for Business
Capital One Spark Miles for Business card is a great card for any US-based business. It’s a rewards card that earns you 2 miles for every dollar spent. This is a great card for frequent travelers since it gives you a 10% fee credit on all purchases made in a foreign country. There is NO annual fee for this Card.
This Card is one of the best options for individuals looking for a credit card that combines the rewards of travel and business. Business credit cards are preferred by many, as it is a great way to spend their money on business expenses. It is a credit card created for the sake of businessmen and women who have a good credit history and a long track record. Capital One Spark Miles for Business card provides a lot of customer rewards and a few drawbacks. But for a job well done, it does deserve a chance.
Going for a small business card with no annual fee is better, such as a Barclay card for a small business.
7. Chase Sapphire Preferred Card
A Chase Sapphire Preferred is a good card for business but not a travel rewards card. If you’re looking for a travel rewards card for business, you should consider Chase Sapphire Reserve. It offers 3x cashback on travel and dining and 1x on all other purchases. Feel free to check my review on this awesome Card too. You may consider the Bank of America Business Advantage Cash Rewards Mastercard if you want a business card.
This Card has up to 3% cashback. But I would recommend you hold your business spending in your business checking account to use the cash back credit cards. You can get a cash advance, travel insurance, purchase protection, and an extended warranty on all your purchases. Chase Sapphire Preferred business card also gives you a chance of winning two million rewards points each year. Holding your business spending in your account will generate extra interest, which will eat up your cash back, the next time you have to pay off your balance.
8. Citi Simplicity Card
The Citi Simplicity Card for Business offers greater flexibility for business owners to use their cards for business expenses. You can receive 0% intro APR on both purchases and balance transfers for the first 12 months, after which the APR will be 14.99% – 22.99% (Variable). It also offers unlimited access to your FICO score, which is free to all Citi card members.
The Card has a cash back feature that awards a percentage of the purchases made on the Card. This percentage is then deposited into a separate savings account that is linked to the credit card. It also can be used as a credit card for small business owners. Citi Simplicity Business credit card is the best choice for small business owners. There are no annual fees. The balance can be transferred to any other Citi Simplicity credit card.
In conclusion, the Citi Simplicity Card for business is a good, no-interest credit card with no annual fee for the first year. It is designed for people who like to pay off the balance every month.
9. The Plum Card from American Express
The Plum Card from American Express is a business charge card, so it is not free. The Plum Card is the newest charge card from American Express, which grants you access to various perks, including free shipping on thousands of items, exclusive shopping discounts, savings on travel, and also helps you save money. It is free to apply for The Plum Card, and if approved, you will receive the Card in 7-10 days. Upon approval, you will receive your Card in 7-10 days. There are no annual fees for this card.
The plum card is aimed at people who are just getting started with their business. Therefore, it can be an excellent way to start building credit for your business, as it is relatively easy to get approved. When you spend $3,000 in the first three months of opening your account, you will receive 15,000 Membership Rewards points. If you spend $15,000 within the first three months, you will receive an additional 30,000 Membership Rewards points.
10. Brex Card
Brex is a business credit card that can be used to make online payments. Customers load money in their accounts and pay the merchants by simply swiping their credit cards.
The business receives money instantly from its bank account. Brex can also be used to accept credit card payments through the mobile app. Brex card is ideal for businesses in the service and repair sector, small and medium-size online stores and take-away and delivery-based food shops.
It’s a neat way to keep track of all your expenses and keep your business and personal funds separate. But it’s not the cheapest Card on the market. You would be better off looking at other business card offerings. It can be used for small and medium businesses in any sector since it does not require a minimum sales volume to take advantage of the cashback offers and cash withdrawal services.
The credit card industry is alive and well. New credit card products are being introduced to consumers looking for more than just a simple credit card, with innovations popping up. Consumers are looking for rewards, cashback, and more. We hope that you enjoyed our article about the ten best credit cards for businesses in 2022.