Small Business Credit Cards have always been a great way for start-up businesses to obtain the capital they need to open the doors of their dreams. When the economy took a tumble in 2008, some of the first products to be removed from the market were these very same small business credit cards that had helped so many for so long.
Advanta was the most well known small business credit card provider and not only did they stop allowing new customers access to credit cards but they close their doors entirely because their debt was just too much. Today, there are still a handful of issuers looking to lend a hand to small businesses and while the offers are not as lucrative as they once were, small business credit cards are a great start for any new business.
PT’s Pick For The Best Small Business Credit Card
The Plum Card® from American Express OPEN- The Plum Card from American Express OPEN is a premier small business charge card for anyone with the excellent credit required to obtain it. This card includes a 1.5% discount for paying early or up to 60 days to pay without interest, or both each month. As an American Express small business cardholder, you’ll receive perks like nothing you have seen before. This is a charge card, which means you must pay your balance off in full each month OR 10% of the balance immediately and the remaining 90% within 60 days. Last but certainly not least, The Plum Card from American Express OPEN has a $0 introductory annual fee for your first year, then $250.
SimplyCash® Business Card from American Express - The name here says it all as the SimplyCash Business Card from American Express offers cash back on all purchases. Five percent is earned at U.S. office supply stores and on services from U.S. wireless telephone service providers for the business, three percent on gasoline at U.S. stand-alone gas stations and one percent on other eligible purchases. Purchases above $12,000 in each category per reward year will earn only 1% cash back. It’s automatically credited to your account each month and the SimplyCash Business Card from American Express has no annual fee.
CitiBusiness® World Card – The CitiBusiness World Card acts as both a charge card and a credit card while providing a $100 gift card bonus to new members that make $300 in purchases during the first three months. The card has a 0% intro APR on purchases for six months and if you go over your credit limit, that’s OK because Citi allows you to do so. The CitiBusiness World Card has no annual fee and no pre-set spending limit, so it’s the perfect business card to own if you need an unexpected purchase.
Starwood Preferred Guest® Business Credit Card from American Express - As a consumer card, the Starwood Preferred Guest Credit Card is one of the best travel rewards credit cards around. As a business card, the Starwood Preferred Guest Business Credit Card from American Express is just as strong. The card includes 10,000 bonus Starpoints after your first purchase, and an additional 15,000 bonus Starpoints when you spend $5,000 in 6 months, enough for up to 6 free nights at a Category 1 or 2 hotel. The card carries no annual fee for the first year and $65 thereafter and has a variable rate, currently 15.24%.
The Business Platinum Card® from American Express OPEN – There’s no better prestige symbol for your business than the Business Platinum Card from American Express OPEN, but it does come at a price. For a limited time, get 25,000 Membership Rewards points after you spend $5,000 in the first 3 months of Card membership. This card also includes perks like a 24/7 airport concierge service, 20% Travel Bonus when using Membership Rewards Pay with Points. Take advantage of 40 premium benefits to help power your business. However, you will be charged a $450 annual fee for owning the Business Platinum Card from American Express OPEN.
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