Best Credit Card Services For Small Businesses

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Whether you’re a freelancer, a freelancer, or a business with 15 employees, it’s important to keep your personal and business finances separate. Even if you’re a self-employed person using a personal account, things can quickly get muddy if you add personal and business accounts for the same reason.

Best Credit Card Services For Small Businesses

To make your life easier today and save yourself a lot of headaches when it comes time to do your taxes, it’s best to keep your business separate – something I quickly learned when I started consulting. from that side.

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Your personal card does not facilitate your company’s spending. Business cards can have high credit limits, and in most cases, business card activity won’t affect your personal credit report (although if you fail on a business card, the card issue may come after you personally).

If you are “self-employed,” where you work alone and under your own name and social security number (not a business name), a business card is more likely to keep your expenses separate and is about ease of protection. Your credit profile and assets – even small businesses, such as freelancers, individuals on the side of gigs, or even people who resell items on eBay are eligible.

If you are a larger business or have more employees and resources, having a business card is essential not only for special expenses, but also for building business credit, so you have flexibility. later loans and promissory notes. Additionally, additional authorization cards are permitted for employees as needed.

Remember, we’re focusing on the rewards and benefits that make these cards great options, not things like interest and late fees that far outweigh the value of points or miles. It’s important to exercise financial discipline by paying off your credit card balances in full each month, making your payments on time, and only spending what you can afford.

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Welcome offer: 80,000 Ultimate Rewards points when you spend $5,000 on the card in the first three months.

Earning Rates: 3 points on the first $150,000 each cardmember spends in aggregate purchases per year for your business travel, shipping, internet/cable/phone and advertising on social media sites or search engines. Purchases of $150,000 or more earn 1 point per dollar.

If you want to earn valuable and flexible rewards points for small business spending, the Chase Ultimate Rewards (UR) ecosystem is one of the best options. If you have one of Chase’s popular personal rewards cards, such as the Chase Sapphire Preferred Card or the Chase Sapphire Reserve, the Business Ink Preferred is an ideal business card partner.

Like these cards, TheInk Preferredearns UR points, and while you can store them on that card and separate them from the rest of your savings, you can combine them with the rest of your points. These points can be exchanged for cash. frequent flyer and hotel loyalty partners or for travel purchases with a 25% bonus (or a 50% bonus if you transfer your points to the Sapphire Chase Reserve).

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The Business Ink Preferred card also covers the most common business expense categories, from travel to shipping to advertising on social media sites like Facebook and search engines like Google Ads. That earning rate, along with the 80,000-point sign-up card bonus — the highest bonus currently offered by Chase — helps keep Ultimate Rewards points looking nice.

Among other benefits, Business Ink Preferred offers mobile phone protection. Up to $600 in coverage for loss, damage, or theft of your cell phone or employee-provided phones when you use your Ink Preferred cell phone account if you provide them. You’re limited to three per 12 months, but this will save you a fortune. This insurance only pays a $95 annual fee.

Click here for more information about the Business Ink Preferred card. More about Ink Business Preferred:

Welcome Offer: Up to 75,000 Rewards Membership Points (50,000 points after 10,000 points in the first trimester and another 25,000 points if you spend an additional $10,000 during the period).

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Earning rates: 5 points per dollar on flights and prepaid hotel bookings on amextravel.com, 1.5 points on purchases of $5,000 or more (up to 1 million points per year), and 1 point per dollar remaining.

The small business version of American Express’ popular Platinum Card used to be our top-tier card, but last year the annual fee was increased and it’s a bit more generous – potentially useful for medium-sized businesses. ldi related to flights and travel, but less expensive for sole traders and smaller operations.

Business Platinum cardholders also receive up to $200 in annual billing credits and up to $200 in airline credits each calendar year to use on purchases at Dell, significantly reducing a portion of the annual fee. Plus, since the airline factors in the price for any year you’re not a cardmember, you can get the card twice in the first 12 months.

Other travel perks include access to more than 1,200 airport lounges, 10 free Gogo in-flight Wi-Fi passes each year, and free Gold status with Hilton and Marriott.

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Earning Rates: 2 Amex Membership Rewards points per dollar spent on the first $50,000 each year (it’s 1x after that point).

Great benefits: 0% annual introductory APR on purchases and bank transfers for the first 12 months (14.74%-20.74% variable thereafter)

The Business Plus Blue Card usually doesn’t have a welcome offer, and that may be enough to turn many away from it. But a business card that rarely earns points – no annual fee; You earn 2 points per dollar on the first $50,000 you earn each year, no need to track bonus categories. According to travel website The Points Guy, Amex points are worth 2 cents, so you’ll get cash back for all your business expenses up to $50,000 each year.

Click here for more information on Blue Business Plus. More about the Blue Business Plus card:

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Welcome offer: Work up to 200,000 miles — you get 50,000 miles after 5,000 miles in the first three months and 150,000 miles with 50,000 miles in the first six months.

Great benefits: Transfer miles to Capital One airline partners, including Air Canada and Emirates, or redeem miles to cover travel purchases on your statement, up to $100 credit for Global Entry or TSA PreCheck

Spark Miles for Business is a great choice if you want to choose how you redeem your miles. You can transfer them to more than 10 airline partners or use miles to “wipe” your business travel expenses off your credit report. You can also redeem miles for cash or gift cards. So if you don’t want to use your rewards one way, this card might make sense.

You’ll earn two miles per dollar spent on all unlimited purchases. Redeeming miles on airline partners like Air Canada, Avianca and Singapore Airlines usually gives you the best value, but you’ll want to work with each program to unlock the best deals.

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With an existing card, the edited service offers a welcome bonus of 200,000 miles to 200,000 miles, so now is the time to take a closer look at Spark Miles. To claim the full bonus, you’ll need to earn at least $50,000 in cash back in the first six months, but depending on your business you can achieve – and redeem 200,000 miles (or more points) worth $2,000 in lucrative airline rewards if you get it) airline partner).

Click here to learn more about Capital One Spark Miles for Business. More about the Spark Miles for Business card:

Great perks: If you have an Ultimate Points Card, you can earn cash back on points with travel partners and earn more than 1.5% back on purchases during the first 12 months (varies after rate 14.99%-20.99%

The latest card in Chase’s business portfolio, Business Ink Unlimited is simple at first – earn unlimited 1.5% cash back.

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However, like the Chase Freedom and Chase Freedom Unlimited cards, the Ink Business Unlimited has a trick. Although the cards are marketed as “cash back,” they actually earn rewards points that you can redeem.

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