Best Business Credit Cards

Thursday, June 7, 2012 at 4:09pm by Site Administrator

Characteristics of the Best Business Cards


A good business credit card is one of the best ways to open up a company’s spending flexibility and track the company’s spending habits at the same time. The wide selection of business credit card offers on the market today can be overwhelming, especially if you are a small business owner who does not have the time to compare hundreds of credit card details. Some of the best card offers share several characteristics that are easy to recognize once you know what to look for. The right card for one company may not be the right card for another company, though, so you will still need to compare cards more closely once you find a few that share some of the overall characteristics of the best cards.


Low Interest Rates

The first thing to consider when you compare business credit cards is the interest rate. It is best to find the lowest rate possible on a card that carries the most useful perks for your particular business. Every percentage point that you can cut from your initial interest rate can mean hundreds of dollars your company does not have to spend on a revolving balance. Many cards offer introductory periods of little or no interest, but be sure you consider the interest rate that will apply after the introductory period and choose something that will be good for your company in the long run.


Clear Rate Terms

No matter how your company plans to use the credit card, it is always vital to understand the card’s rate terms. The best cards for businesses make it easy to identify how much the card will cost your company as well as the card’s benefits. Look for a card that provides details about when and how the rates might change in the future. If the terms are hidden too deeply in the paperwork or they are difficult to understand, the card might not be the best choice for your company. You want to avoid surprise rate changes before you are presented with an unexpectedly high bill.


Rewards That Match Your Needs

Today’s business credit card market is extremely competitive. Almost every card offers some sort of incentive, from airline miles to cash for purchases. The best card for your company will be the one that gives you rewards that you can really use. For example, a card that gives you discounts on dining would be ideal for a business that regularly treats clients to meals. Cash incentives are good for any business, but you need to read the fine print to make sure your company would qualify. Most cash back rewards require certain spending amounts before you are eligible.


Reasonable Fees

Fees are common for business credit cards. The types of fees that are charged can change dramatically from one card to the next. Look for a fee schedule that matches the way your company plans to use the card so that you spend as little as possible paying for the privilege of using the card. Annual fees are easy to recognize and prepare for, but hidden fees like transaction fees or transfer fees can become expensive quickly if you are not careful. Some cards do not carry any direct fees, but they may have higher interest rates or make up the difference in other ways.



If you are a small business owner, your cash flow may not be entirely predictable from month to month. A card with a more flexible spending limit is a good investment, especially if there is a chance that your expenses could fluctuate widely due to changes in demand or manufacturing costs. A flexible spending limit ensures that you have a safety net if something unexpected happens. Look for a card that allows some extra spending without exorbitant fees for occasionally exceeding your limit.


Signing Bonus

One of the most popular incentives offered by business card companies is the signing bonus. Again, this feature is only beneficial if your company meets the criteria to receive the bonus. Some cards, like the Chase Ink, give you a small signing bonus when you first receive your card and then a larger bonus after you spend a certain amount of money on the card. A signing bonus is a good way to put some money back in your company’s account after the card is used for large purposes. It is only a one-time deal, though, so do not sacrifice long-term contract items like interest rates for a large signing bonus.

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