In “Part 1” of this two-part series, I provided some tips for choosing a business credit card. In this “Part 2” installment, I provide details on specific cards as evaluated by CreditCard.org, a non-profit organization that provides news and advice about credit cards. What follows are business cards CreditCard.org recommends. Note that promotions change on a regular basis. So be sure to check the details of the most recent offers. Note, also, that this is not a comprehensive list of business credit cards.
Credit ratings are based on the following scores:
- Excellent: 725+
- Good: 650 – 724
- Fair: 600 – 649
- Bad: 300 – 599
American Express requires an “Excellent” credit score for all cards. While it offers a wide range of features and benefits, American Express cards are not as widely accepted as MasterCard and Visa.
True Earnings Business Card – American Express with Costco Branding
Features: Cash back ranging from 1 percent for Costco purchases to 4 percent for gasoline charges. Annual fee: None.
The Business Platinum Card from American Express OPEN
Features: Up to $200 airline fee credit to cover incidentals with the airline of your choice. 20 percent travel bonus when redeeming with Membership Rewards Pay with Points. Complimentary airport club access, including American Airlines Admirals Club lounges. Concierge service to assist with your business needs from gift giving to dinner reservations. Business Platinum car rental program with complimentary enrollment in the Hertz #1 Gold Club, Avis Preferred, and Emerald club from National Car Rental. Includes Platinum Office Program, offering access to 1,000 Internet-equipped business lounges in 450 major cities worldwide. Enrollment in the Membership Rewards First program. No pre-set spending limit. Requires Excellent credit. Annual fee: $450.
SimplyCash Business Card from American Express OPEN
Features: 5 percent cash back on wireless services and office supply purchases. 3 percent cash back on automobile gasoline. 1 percent cash back on other purchases. No limit to the amount of cash you can earn back. Cash back on purchases is automatically credited to your statement each month. Save 3 percent to 10 percent automatically on business expenses from FedEx, Hertz, OfficeMax, and more with OPEN Savings. Variable interest rate starting at 13.24 percent. No balance transfer promotion. Requires Excellent credit. No introductory annual membership fee.
The Plum Card from American Express OPEN
Features: Pay in full within ten days, get a 1.5 percent discount or pay a minimum of 10 percent and take up to two months to pay off the balance, interest free. Includes a cash flow management tool. No balance transfer promotion. Requires Excellent credit. No introductory annual fee for the first year, $185 thereafter.
AT&T Universal Business Rewards Card
Features: Earn 3 “ThankYou” points for every dollar spent on purchases at certain office supply merchants, gas stations, and on professional services, and 1 ThankYou point for every dollar spent on other purchases. Earn 5 ThankYou points for every dollar spent on eligible AT&T products and services. 0 percent interest rate on purchases for 6 months. Additional cards for employees with credit limits you set. No balance transfer promotion. Variable interest rate currently at 16.99 percent. Requires Excellent credit. Annual fee: None.
Capital One Venture for Business
Features: Earn double miles on every purchase. Get 25,000 bonus miles if you spend $1,000 within the first 3 months. Receive 5,000 bonus miles by signing up for one or more employee cards. Use your rewards for travel, cash back, gift cards, and merchandise. Fly any airline, anytime, with no mileage expiration. No foreign transaction fees. Variable interest rate currently at 13.9 percent. Requires Excellent credit. First year’s annual fee is waived.
Capital One Business Platinum with Preferred No Hassle Miles
Features: 0 percent introductory interest rate on all purchases until March 2012. 3 miles per $1 spent in the category of choice where you spend most, and 1 mile; per dollar on all other purchases. Redeem miles for travel, cash, merchandise, and gift cards. Fly on any airline with no blackout dates or seat restrictions. No limit on miles and no expiration. Variable interest rate between 14.99 percent and 22.99 percent. Requires Excellent credit. Annual fee: None.
Capital One Business Platinum
Features: 0 percent introductory interest rate on all purchases until June 2012. Tools to help build business credit. $0 Fraud Liability Protection if your card is lost or stolen. Automatic credit line increase program. Online and mobile banking options for easier account management. Online quarterly and year-end summaries. Variable interest rate, currently 19.99 percent. Requires Fair credit. Annual fee: $39.
Features: Earn 5x Points on the first $25,000 in annual expenditures on office supplies, wireless services, landline communication and cable services. Earn 2x Points on the first $25,000 in annual expenditures on fuel and lodging. Unlimited 1 point per dollar on all other purchases. Redeem points for travel, gift cards, merchandise; rewards never expire. 0 percent introductory interest rate for 6 months for purchases and balance transfers. Variable interest rate between 13.24 percent and 19.24 percent after six months. Requires excellent credit. Annual fee: None.
Ink Bold with Ultimate Rewards
Features: Pay balance in full card, no interest. Earn 25,000 bonus points after first purchase. No limit to the number of points you can earn and points never expire. Over 45,000 bonus points every year redeemable towards flights. Requires Excellent credit. No first year fee, $95 annual fee thereafter.
Ink Cash Business
Features: Earn up to $250 bonus cash back. 5 percent cash back on the first $25,000 spent annually on office supplies, cable services, and telecom services. 2 percent cash back on the first $25,000 spent annually on gas and dining. 1 percent cash back on all other purchases with no limit on the amount of cash back you can earn. Cash back rewards do not expire. 0 percent introductory interest rate for 6 months. 0 percent for six-month balance transfers. Variable interest rate between 13.24 percent and 19.24 percent after introductory rate expires. Requires Good credit. Annual fee: None.