How to Star The Best Business Credit Cards

Business credit cards are an underutilized option when it comes to making purchases for your business. In addition to providing a great source for emergency cash, business credit cards offer a few additional perks.

1. Minimize the impact on your personal credit. Businesses tend to make larger purchases than individuals. If you end up with large outstanding balances on your personal card because of business expenses, your personal credit score could take a hit. Use a business credit card that doesn’t report to personal credit bureaus and, as long as you are on time with your payments, your personal credit will not be affected. (Some business credit card companies will report your business credit information to personal credit bureaus. Find out which ones do here.)

2. Build your business credit. Making on-time payments on your card will help you build strong business credit scores, allowing you to secure lower rates and longer repayment terms on business financing, as well as better terms with your vendors and suppliers.

3. Protect your business. Business credit cards offer more protection than business debit cards. They are covered by the Truth in Lending Act, which caps maximum liability for fraudulent purchases at $50.

 

The Best Business Credit Cards

Business credit cards offer a variety of different features from rewards points to miles to freebies. The following are some of this year’s top business credit cards for four popular categories: cash back, travel rewards, low APR/balance transfer cards and credit builder cards.

If the ultimate reward flexibility is what you want, the Capital One Spark Miles card could be a solid pick for your business. Cardholders earn an unlimited 2 miles per dollar spent on all purchases. Miles can be redeemed for travel via any airline, cash back, gift cards and more.

Added benefits:

  1. Unlimited 2 points per dollar spent on all purchases with your card.
  2. Killer bonus offer of 50,000 miles when you spend $4,500 on the card in the first 3 months.
  3. Points can be redeemed for use on airlines or hotels of your choice, plus vacation packages and more.
  4. No foreign transaction fees.

Drawbacks:

  1. $59 annual fee (waived for the first year).
  2. Only available to those with excellent credit.