If you are a business owner or in a position to decide on purchasing of any kind you will probably need to know about business credit cards in order to the one that is best going to serve your needs and to give the most bang for your buck. There are many credit cards to choose from so be sure that you do plenty of research before deciding.
Some of the things that you will want to look for when deciding on a business credit cards is what the card can offer you and your company. There are some cards that offer cash back rewards and this can be an attractive option. One of the 3% cash back cards from Chase on qualifying purchases is one option you might consider. The Ink Plus® Business Card has a monthly maximum on the cash back you can earn and some of the things that qualify are gas, office supplies, and dining. Once you make your purchases adding up to $5,000, you will get 50,000 bonus points worth $500. While there is a monthly maximum on the 3% cash back, you are able to earn unlimited 1% cash back on qualifying purchases. You are also able to earn unlimited points with this card. It comes with an introductory 0% APR and no annual fee.
Another card that offers cash back it the Capital One Visa Business Platinum with 1% cash back. This card offers the 1% cash back on all purchases with no monthly minimum and you are able to redeem your cash whenever you choose. If you need to, you can get additional cards for employees with no extra fee and you can set the spending limits and track them on your detailed monthly statement. This card offers a 0% introductory APR as well until September 2011.
Discover also has a version of the cash back business card. This card offers 5% cashback bonus on the first $2000 in office supplies as well as a 2% cashback bonus on your first $2000 worth of gas each year and up to a 1% unlimited cashback bonus on other qualifying purchases. If you are a position where you are doing quite a bit of purchasing for your business, this may be a card you want to consider. Like the Capital One card, you can also get free employee cards that allow you to track their spending. There is no annual fee and a 9.99% balance transfer offer that is good through May of 2011.
American Express has the SimplyCash Business Card. With this card your cash rebates are automatically credited to your statement every month and there is no limit to the amount you are able to earn. You are able to earn 5% back on office supplies and wireless services, 3% on fuel, and 1% on your other purchases. Cards are available for employees and they can be set at a pre-determined spending limit. When an employee uses their card the cash back is credited to your account the same way as if you had used the card yourself. Like the others, this card also has no annual fee and it does offer the option of carrying a balance if you wish. The SimplyCash card is targeted to businesses that have a revenue greater than $200,000 annually.
As you can see, while these cards do have some features in common, they also have some differences in terms of APR’s and the type of rewards you can earn. This is why it is crucial to do research in order to determine which card is going to be the absolute best for your business.
