Are You A New Business In Need Of A Corporate Credit Card?
If so, Epsilon Business Credit can help.
Here we go through the best business credit cards now on the market.
Epsilon Business Credit reviews all aspects of business finance, including credit cards, business loans and other commercial finance sources such as merchant card facilities.
We cover how start ups can get a business credit card here but thought it would help to point some actual card reviews.
We hope you like this mini guide for new businesses trying to get their first card.
There are reviews of what we believe are the best 4 cards in the market at present.
About
Reviews
Main terms and features:
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No Annual Fee
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Earn $300 bonus cash-back after you spend $3,000 on purchases in the first 3 months
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APR starting at 13.24% variable.
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5% cash-back for office supplies, Internet, cellphones, and landlines (for the first $25,000 in purchases each year).
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2% cash-back at gas stations and restaurants, (for the first $25,000 in purchases each year).
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1% Chase points on all other purchases (no limit).
Pros:
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No Annual Fee
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Great cash-back rates (5% and 2%) for many common business expenses.
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0% APR for the first 12 months of purchases and balance transfers.
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You are able to combine cash-back rewards with Ultimate Rewards points on Chase accounts that belong to you, your business partner, or spouse.
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Free employee cards and ability to set employee spending limits.
Cons:
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Limited introductory bonuses (much like other cash-back cards).
Our Takeaway:
With no annual fee, it’s tough to beat the Ink Cash® card for your high-reward business expenses. If you’d like to build your business credit score at no cost, or transfer an existing balance, you’ll be hard pressed to find a better card. If you don’t want your business card to affect your personal score, Ink Cash® Business Credit Card (like all Chase cards) is a good option. Limited upfront cash rewards may be a deterrent, but if you’re approved for this card, there’s massive upside with Ink Cash® Business.
Ink Cash® Business Credit Card
Main terms and features:
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$95 Annual Fee
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15.24% variable APR
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Cardholders earn:
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5 points per dollar on Internet, cable, office supplies, and phone service (for the first $50,000 spent each year).
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2 points per dollar on gas and hotels.
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Unlimited 1 point per dollar spent on everything else.
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No foreign transaction fees.
Pros:
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No Annual Fee
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Great cash-back rates (5% and 2%) for many common business expenses.
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0% APR for the first 12 months of purchases and balance transfers.
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You are able to combine cash-back rewards with Ultimate Rewards points on Chase accounts that belong to you, your business partner, or spouse.
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Free employee cards and ability to set employee spending limits.
Cons:
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The Ink Plus® offers great rewards for common office expenses.
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Businesses who spend over $50,000 in bonus categories will reap big rewards-- upwards of $3,500 a year.
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Ultimate Rewards points are valued at 1.25 cents redeemed for travel with Chase.
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A 1:1 point transfer ratio to several loyalty programs.
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Free employee cards.
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Set spending limits on employee cards.
Our Takeaway:
The Ink Plus® is great for business owners who need a larger cap on high-rewards categories than the Cash Business®. The annual fee and absent 0% introductory rate should should not be a deterrent for business owners that pay off their monthly balance and use their credit cards frequently. Although without the typical perks of an affiliated travel card, the Ink Plus® Business Credit Card more than compensates with competitive 5x and 2x points ratios--plus an industry standard 1x for all other purchases. A great travel card for business owners.
Ink Plus® Business Credit Card
Main terms and features:
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No annual fee.
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0% introductory APR for 9 months.
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11.24%-19.24% variable APR.
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30% annual membership bonus.
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Earn a bonus of 10,000 Membership Rewards® after making a single purchase (valued at $100 in gift cards).
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1x points on all purchases.
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2x points on travel booked through American Express Travel.
Pros:
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Zero fee makes this card a low risk additional credit card for business.
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Low variable APR.
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Relationship bonus could be lucrative.
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No fee for additional employee cards. Redeem points for business expenses.
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Good for business owners with below-excellent credit.
Cons:
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One (limited) channel to earn 2x points.
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Confusing point redemption system for gift cards.
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Points lose value if not redeemed through American Express.
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0% introductory rate does does not extend to balance transfers.
Our Takeaway:
There are far better no fee credit cards with a higher rewards rate. However, if you want easy access to points with simple redemption rules, you’re better off looking at a pure cash-back or travel-specific card. If your small business needs 0% APR capital for 9 months, or a backup card with no fee, this is a great option for you.
Blue for Business® Credit Card Card from American Express
Main terms and features:
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16.9% variable APR.
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Introductory $0 annual fee ($59/year afterwards).
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Earn unlimited 2 miles per dollar (valued at 1 cent/mile).
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Miles can be redeemed for travel statement credit and other perks.
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Free employee cards.
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Quarterly and yearly itemized statements to consolidate business deductions at tax time.
Pros:
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Low annual fee (free for first year).
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Unlimited categories for earning points.
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No foreign transaction fees.
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Earned miles never expire.
Cons:
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Points must be redeemed through Capital One’s travel site.
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You can’t transfer miles to other loyalty programs.
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You don’t get the perks offered by co-branded airline cards, like priority boarding or free checked bags.
Our Takeaway:
For consistent travel rewards and a moderate annual fee to keep you active, the Capital One Spark® card is a great business card. Don’t worry about reward categories or category caps--you get a flat 2% on everything you buy with the card (not a fantastic rate, but decent in the industry). While there are cards out there with higher points percentages, the Capital One Spark® is hard to beat-- and point redemption is simple through Orbitz or Expedia with Capital One’s Purchase Eraser tool. You’ll break even on the annual fee after spending nearly $3,000. If your business has low expenses, or you don’t travel frequently-- consider a more basic zero fee rewards card.
