Small Business Credit Cards | Our Top Picks | Swyft Filings
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Small Business Credit Cards

Why You Need One & Our Top Picks For Small Businesses

Small businesses almost always need access to credit. When you are just starting out, a credit card is a good way to buy the basic office products and start-off expenses before your revenues come in. Even very profitable, well-funded small businesses can benefit from the ease of putting expenses onto a credit card. Small businesses that need significant capital for growth, or experience a setback in available operating funds, often depend upon available credit to make it over that hurdle, even in the short term. With a credit card, you can also obtain rewards for your business or nice personal benefits.

But, do you know if credit cards are better than other types of credit or loans? And, do you know which credit card makes sense for you?

What Can a Business Credit Card Do for My Business?

A credit card can offer your business a line of revolving credit, the size of which depends in large part upon the owner's personal credit score. When your business is just starting out it does not have an established credit history of its own. Lenders are going to look at your own credit history, which also means that if they wouldn't approve you personally for a credit card at this time, then they won't approve a card for your business either. However, if your credit history is good and you can show income, it's easy to get a new small business approved for its own credit card.

As time goes on and your payments are timely made, the available line of credit for your business card will grow. Moreover, since you only pay interest on what you're using, you can keep interest down by borrowing only what you actually need, or using the card for routine expenses but paying it off each month. Use of a business credit card also comes in handy to separate business expenses from personal ones, providing for easy accounting at tax time.

What Can a Small Business Loan Do for My Business?

Small business loans are more difficult to apply for than a business credit card. Not only do you or your business (or both) need strong credit scores and credit history to obtain one, but a bank might also require that you put up collateral for the loan, such as your home or other property. This allows the lender something of value to go after if you default on your loan later on. It's also typical for the application process to be extended, as banks will require a review of your business plan and your profit-and-loss statement before you qualify. Since you get a lump sum upfront, you must also plan on paying interest on the full amount of the loan from the beginning, with that going down as payments are made over time. While the interest rate may be lower and the amount available may be larger with a small business loan, the time, effort and lack of availability often make this a less desirable route.

So, what Small Business Credit Cards Are Our Favorite?

We have picked our top two business cards for small businesses and listed out most of their benefits below. If you are looking for a business credit card that offers cash back or travel rewards, we have you covered.

Chase Ink Business Preferred℠ Card — 80,000 Bonus Points
Chase Ink Business Preferred℠ Card — 80,000 Bonus Points

Chase tops our list with two cards. The first is with their Ink Business Preferred℠ Card. If you are going to put purchases onto a card, you should find one that offers generous rewards for doing so. The Ink Business Preferred℠ Card offers a staggering 80,000 bonus points if your business spends $5,000 on purchases within the first three months, which is relatively easy even for businesses just starting out. You can redeem those 80,000 points toward $1,000 in travel rewards. Plus, you earn three times the points when spending in select business categories. Ink Business Preferred℠ Card has a low annual fee of $95.

  • Initial Bonus: 80,000 points when you spend $5,000 on purchases in the first three months
  • Annual Fee: $95
  • Rewards: Earn 3 points per $1 spent on the first $150,000 combined you spend on travel; shipping; internet, cable and phone; and certain popular online advertising
  • Rewards: Earn 1 point per $1 spent on all other purchases

You can redeem your rewards through Chase's generous travel programs for flights and other travel benefits.

With a modest annual fee, you will receive additional travel and protection benefits such as:

  • Worldwide primary rental car insurance
  • Purchase protection against damage and theft for 120 days subject to certain dollar limits
  • An additional one-year warranty added to warranties three years or under
  • Lost luggage coverage up to $3,000 per person
  • Travel accident insurance coverage up to $500,000
  • Roadside dispatch to find you the help you need. Although you are responsible for paying for any services rendered, you will never be stranded
  • Trip cancellation and interruption insurance to recover up to $5,000 in losses per person if you have to cancel a trip or a vacation is interrupted for covered reasons
  • Trip delay coverage up to $500 per person for lodging and meals if your travel plans are delayed by at least 12 hours or you are forced to stay an extra night
  • Baggage delay coverage up to $100 per person per day up to a maximum of $500 per person
  • Cell phone protection that provides up to $500 per claim with a $100 deductible subject to annual limits
Chase Ink Business Cash℠ Card — $500 Bonus Cash Back
Chase Ink Business Cash℠ Card — $500 Bonus Cash Back

If you prefer your rewards program to be of the cash-back variety and want no annual fee, Chase has you covered here as well with the Ink Business Cash℠ Card. Your business can earn $500 bonus cash back after spending just $3,000 on purchases within the first three months. Right now, the Ink Business Cash℠ Card has a 0% APR for the first year, plus no annual fee. This introductory APR is good for both purchases and balance transfers, so even if you currently use another card it's worth looking into the Ink Business Cash℠ Card for the 12-month 0% APR alone.

  • Initial Bonus - $500 cash back when you spend $3,000 within first three months.
  • Annual Fee $0
  • Rewards: Earn 5% cash back on first $25,000 spent at certain office supply stores, phone and cable providers
  • Rewards: Earn 2% cash back on first $25,000 spent in purchases at gas stations and restaurants each year
  • Rewards: Earn 1% cash back on all other purchases

You can redeem your rewards in the form of cash back, gift cards, travel reservations or merchandise. The points are also transferable to another Chase credit card account held by you or your spouse.

With no annual fee, you still receive travel and protection benefits such as:

  • Worldwide primary rental car insurance
  • Purchase protection against damage and theft for 120 days subject to certain dollar limits
  • An additional one-year warranty added to warranties three years or under
  • Lost luggage coverage up to $3,000 per person
  • Travel accident insurance coverage up to $500,000
  • Roadside dispatch to find you the help you need. Although you are responsible for paying for any services rendered, you will never be stranded
  • Advertisers Disclosure: Swyft Filings receives compensation for the credit cards offers that are visible on the site. This compensation may influence the placement of cards within the site. This site does not contain all available credit card companies or offers.

  • Editorial Note: The editorial content on this site is not provided by the companies whose products are featured. Any opinions, analyses, reviews or evaluations provided are those of Swyft Filings and have not been reviewed, approved or otherwise endorsed by any credit card company.

Our Partner Cards

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Chase Ink Business Preferred℠ Card — 80,000 Bonus Points

Ink Business Preferred℠ Card

80,000 Bonus Points

APPLY NOW
Chase Ink Business Cash℠ Card — $500 Bonus Cash Back

Ink Business Cash℠ Card

$500 Bonus Cash Back

APPLY NOW
  • Advertisers Disclosure: Swyft Filings receives compensation for the credit cards offers that are visible on the site. This compensation may influence the placement of cards within the site. This site does not contain all available credit card companies or offers.

  • Editorial Note: The editorial content on this site is not provided by the companies whose products are featured. Any opinions, analyses, reviews or evaluations provided are those of Swyft Filings and have not been reviewed, approved or otherwise endorsed by any credit card company.

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