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6 Best Credit Cards of February 2023

what is the best credit card for a business

Her expertise in maximizing travel rewards grew from over two decades of experience in the aviation industry, including 18 years working as a pilot and flight instructor in her native Canada.You can reach Jasmin If you frequently travel for business, a small-business hotel credit card could also make sense. You’ll earn hotel points on all your spending, and some cards offer complimentary elite status and annual free reward nights. The card’s welcome offer and earnings aren’t anything to sniff at, either. New cardholders can earn $500 cash back after spending $4,500 on purchases on the account holder’s card in the first 150 days of opening your account (authorized user purchases won’t count, however). Small business owners who aren’t sole proprietors can qualify for business cards too.

Is there such thing as a business credit card?

A business credit card is a card specifically designed for business owners that offers unique benefits suited to businesses. Business cards typically come with higher credit limits, greater rewards potential and tools to help you manage spending and employee cards.

Many businesses find it’s easier to track expenses using credit card transactions. Plus, businesses can use the credit card to pay for equipment, inventory, services, or other expenses while they wait for vendors or customers to pay their invoices.

Compare Options for the Top Business Credit Cards With Nav

To maintain PCI compliance, business owners must fill out a yearly self-assessment and conduct quarterly scans of their processing solutions. This process ensures that your customers’ information stays safe and reduces your liability. Payment Depot offers four plans based on monthly processing volume. The Basic plan, which is for businesses that process $25,000 or less each month, costs $49 plus 15 cents per transaction. The Most Popular plan is for businesses that process up to $75,000 a month; it costs $79 a month, plus 10 cents per transaction. The Premier plan is for companies that process up to $150,000 a month; it costs $99 per month and 7 cents per transaction. The Unlimited plan has no monthly processing limit and costs $199 per month and 5 cents per transaction.

what is the best credit card for a business

Applying for an offer that gives you 50,000 miles after your first purchase? Be sure you have a screenshot to refer to if those 50,000 miles don’t show up. You’ll want to select a card that rewards your most significant spending categories, ideally one that rewards all of your spending in those categories, not just a portion. The Amex Blue Business Plus card is a great no-fee option that offers simple, flat-rate points earning .

What Is the Range of Business Credit Card Interest Rates?

To see rates & fees for The Business Platinum Card® from American Express please click here. Don’t worry about a foreign transaction fee; you’ll be charged none. There’s no intro APR on purchases; the regular purchase APR is 13.74% to 23.74% variable. Since 2004, has worked to break down the barriers that stand between you and your perfect credit card. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. From industry experts to data analysts and, of course, credit card users, we’re well-positioned to give you the best advice and up-to-date information about the credit card universe.

  • The best credit cards can also offer so many rewards and perks that, when managed well, can actually save you money in the long run.
  • If you’ve got a business — new or old, big or small — you should consider getting a small business credit card.
  • In addition to free rewards nights, for example, cardholders receive complimentary Marriott Bonvoy Silver Elite status and premium on-property internet access.
  • Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate.
  • Thanks to advances in payment technology, the turnaround to clear credit card sales is faster than it used to be.
  • To lessen the risk of rejection , look at each card’s credit requirements before you apply.

Processors with flat rates usually don’t charge account service fees, but you still need to be aware of some incidental fees. Unlike other card processors, National Processing also charges a PCI compliance fee. And although you aren’t forced to sign a long-term contract, which is another plus, National Processing does charge a termination fee. The company will waive this fee if your business is sold or closed, or if National Processing can’t match or beat a rival’s credit business credit card card processing rate. Square’s POS software comes with a wide variety of accounting features we like for growing businesses, including the ability to track invoices, accept payments and manage sales from one dashboard. These features will appeal to business owners who want a central location from which to assess their business. Stax offers a number of features, including brand customization options for invoices and receipts, as well as add-on features for each plan.

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