Carefully managed, a credit card is your perfect small business partner. As well as offering a line of credit without collateral, they’re a great way to track your expenses and earn rewards. Deciding from the vast number of cards available is probably the trickiest part of the process. As well as considering APRs, fees, and perks, you’ll need to sift through eligibility terms since small businesses won’t qualify for cards like The Business Platinum Card® from American Express OPEN.
Our top list for 2014 is aimed specifically at small businesses and makes sense of the jargon.
1) Chase Ink Cash® Business Card
Sign up bonus: $200 cash back bonus after spending $3,000 within first 3 months.
Benefits: 5% Cash Back at Office Supply Stores; 2% Cash Back at Gas Stations and Restaurants; 1% Cash Back on Other Purchases.
APR: 0% on balance transfers and purchases for 12 months; 13.24% thereafter.
Fees:No annual fee; foreign transaction fee of 3%; balance transfer fee of $5 or 3%.
2) Blue for Business® Credit Card from American Express
Sign up bonus: Bonus10, 000 Membership Rewards points (~$100 in gift cards) on purchase made in first 3 months.
Benefits: 2 Points on Travel; 1 Point Everywhere Else; 30% Anniversary Bonus Each Year.
APR: 0% on purchases for the first 9 months; 11.24%, 15.24%, or 19.24% thereafter, based on creditworthiness and prime rate.
Fees:No annual fee; 2.7% foreign transaction fee.
3) CitiBusiness Thank You® Card
Sign up bonus: Spend $3,000 in the first 3 months to receive bonus 15,000 ThankYou Points (~$150 in gift cards).
Benefits: 3 ThankYou Points in Rotating Categories; 1 ThankYou Point on Other Purchases; Anniversary Bonus on Points Earned.
APR: 0% on balance transfers for 6 months, 13.4% thereafter.
Fees:No annual fee; 3% foreign transaction fee; 3% balance transfer fee.