Best Business Credit Cards 2012

Monday, June 11, 2012 at 9:48pm by Site Administrator

The Best Business Credit Cards for 2012


Small business owners can reap a number of rewards from the acquisition of a business credit card. Large maximum limits and often favorable interest rates are coupled with rewards programs allowing the business to gain benefits from the purchase of necessary supplies. With all these benefits, it is little wonder why owners will sometimes put their personal finances on the line in order to obtain one.

Before considering the best credit card offers of 2012, owners should be aware there is no single best card. Every business is different, and the best credit offer is the one matching up with the needs of your business. This might mean finding a card with benefits or rewards programs focused on your most-frequented list of vendors and services. It may also mean searching out the best card for transferring balances, low after-introductory interest rates, and so on depending on your needs.


Bank of America Platinum Plus: Lowest Ongoing APR

Just like with bank loans, better terms on your business card can be achieved with a better credit score. Unlike with bank loans, you will need to find a credit vendor offering a low-interest card for your great score. Bank of America offers just that with an APR range of 9.24 to 20.2%. Your average annual fee with the Platinum Plus is $9. The intro rate of 0% lasts seven months, and balance transfers face a service charge of 4%. This is a good choice for established businesses in need of reliable, low-interest credit.


American Express SimplyCash: Long Introductory Period and Benefits

With an APR range of 12.24 to 19.2%, it may cost more to maintain a revolving balance with SimplyCash in the long run. It is still a good choice for newer businesses, since the 0% introductory APR lasts a full year. This no annual fee card also allows penalty-free balance transfers. There is also a detailed cash-back rewards program.

  • All purchases are 1% cash back with no limit.
  • Auto-fleet gasoline earns 3% up to $12,000.
  • Wireless services and office supplies receive 5%.
  • Participation in the Open Savings program earns 3 to 10% with select vendors, including Hertz and FedEx.
  • Paying your bill before an invoice is printed will earn your business an extra 1.5% cash reward.


Chase Ink: Array of Rewards

The Ink credit card is actually two options, Ink Classic and Ink Cash. At first glance the primary difference appears to be that the Classic offers points back on select purchases. However, all points can be redeemed for cash at the same rate for each card. Chase Classic is a better choice for businesses that require regular travel, since you’ll receive 2% back on gas and lodging expenses and receive two airport lounge priority passes with ongoing discounts. Chase Cash swaps this out for 2% back on gas and dining. Other benefits of Ink include:

  • $100 bonus after first purchase and $150 bonus after spending $5,000 in first three months.
  • 0% APR for first 12 months.
  • 10.24% ongoing APR.
  • 5% cash back on bundled telecom services and wireless phone.
  • 1% back on all purchases.
  • You will also have access to faster accumulation of rewards via the Chase Ultimate Rewards Mall. This online storefront includes Holiday Inn, Office Depot, and many others.


U.S. Bank FlexPerks

Colluding with Visa, U.S. Bank provides a card well-suited to businesses spending a lot of time on the road. The no APR introductory period lasts from six to nine months, and your APR thereafter will range from 11.99 to 17.99% depending on your business credit score. This compares favorably with other cards on the list so far, but Flex Perks excels with no-limit, 3% cash back on gasoline, cellular phone service, and purchases made at any office supply store. A 1% reward applies to all other purchases. Your first anniversary with FlexPerks will be celebrated with a 25% bonus on rewards earned to date. You’ll also be eligible to enroll your card in the Visa Savings Edge Discounts program for even more rewards at select vendors.


Signer Beware

The CREDIT Act did not apply to business credit cards. Contracts for many cards include an “any time” clause, which means the terms may be changed by the bank for any reason. Other contracts will list specific conditions that trigger changes. As with any source of credit, the APR and other benefits will rely in part on the credit score of your business.

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