7 Best Business Credit Cards Of 2022 | Review

Best business credit cards are important and a necessity for an established and running business. It is indeed a task to pick the best credit card for your business.

7 Best Business Credit Card Of 2022 | Review

A business credit card has become necessary for all businessmen. Whether you have a small business or you operate a large-scale business you should have a credit card for your business because it is a separate entity and to have an accurate view of your expenses and incomes you must have a credit card for all the transactions.

What Is a Business Card?

A business credit card is one that is intended for use by a company rather than an individual. Businesses of all sizes can apply for business credit cards, which can aid in the development of a credit profile and the improvement of future borrowing terms.

In contrast to personal credit cards, which are used by individuals, business credit cards are designed for use by businesses. It, in particular, can help small business owners keep their business and personal expenses separate for bookkeeping and tax purposes.

This credit card frequently comes with special benefits, but they lack some of the consumer protections that are required on personal credit cards.

Read also:- Mastercard Black Card- Is It Worth The Cost?

Read also: Best personal loans in the USA | best personal loan rates

How Does a Business Credit Card Work?

Best business credit cards are generally easier to apply for than non-revolving business loans because the process is usually automated and results in an instant credit decision.

Business credit card interest rates are generally slightly better than those on traditional loans. The reason for this is that credit card debt is typically unsecured, which puts lenders at a higher risk. (Some lenders also provide secured credit cards, which can be beneficial to businesses with little or no credit history.)

Why Do You Need a Business Card?

Expense Control: The card can help you manage and itemize your business expenses. It, in addition to providing the usual conveniences associated with credit cards, assists small business owners, in particular, in keeping work-related spending separate from personal spending. This division can be beneficial for accounting and tax purposes.

Special Benefits: Business credit cards typically offer some unique benefits intended to entice business customers. These benefits may differ from those offered to specific customers.

Travel perks are another popular perk, as many businesses incur significant travel expenses. A business credit card may entitle the holder to use an airline’s VIP lounge at airports or receive hotel discounts while on business.

Control Cash flow: Business credit cards may offer more flexible repayment terms, designed to appeal specifically to businesses with erratic cash flow.

Best Business Credit Card For Your Use

7 Best Business Credit Card Of 2022 | Review

1. American Express Blue Business Cash Credit

The American Express Blue Business Cash Card is one of the few small-business credit cards that provides 2% cash back with no annual fee. Terms and conditions apply.

This makes it an excellent option for entrepreneurs who want to earn a high flat rate on everyday spending without having to track bonus categories. The card’s 0% intro APR on purchases is also beneficial for those looking to finance one-time expenses.

However, if you own a larger-spending business or have predictable monthly expenses that fall neatly into specific categories, you may be able to find more lucrative cards. If you want travel rewards, you’ll have to look elsewhere. 

2. Capital One Spark Cash

In many ways, the Capital One Spark Cash Plus card, Capital One’s newest business credit card, is a clear upgrade over the original Capital One Spark Cash for Business credit card, offering increased purchasing power with no preset spending limit, a massive welcome bonus, and an annual $200 cash bonus after spending $200,000 or more per year.

The card has a higher annual fee of $150 and, as a charge card, requires you to settle your balance each month, making it an unsuitable choice for small-business owners or consumers who need to finance purchases or carry a balance to free up cash flow.

3. Ink Business Cash® Credit Card

The Ink Business Cash Credit Card gives you 5% back on office supplies and select utilities, as well as 2% back on restaurants and gas stations. Many businesses incur significant expenses in these categories, making the Ink Business Cash a good no-annual-fee small-business credit card.

Because the Ink Business Cash Card is a cash-back business card, redeeming your rewards is simple. However, if you combine the Ink Business Cash with a card that earns Ultimate Rewards points, you will have more lucrative redemption options. 

4. Ink Business Unlimited® Credit Card

Because it earns 1.5% back on every purchase, the Ink Business Unlimited Credit Card is one of the best business cards with no annual fee. The card also currently offers a $750 cash bonus after spending $7,500 in the first three months of account opening.

The Ink Business Unlimited program is designed for small-business owners. While not everyone is eligible for a business credit card, it may be easier to get approved than you think because freelancing and other sole-proprietorships can be considered businesses by Chase and many other issuers.

5. Ramp Business Card

For a stressed-out small business, the Ramp Business Card could be a dream come true. The charge card earns cash back on all purchases and provides a comprehensive suite of bookkeeping-related benefits that go above and beyond what a traditional business credit card typically provides. There is also no annual fee, regardless of how many employees you have.

Look elsewhere if you want to carry a balance or get travel perks. However, if you want a simple cash-back card that will help your company save money on spending, the Ramp card could be a good fit. 

6. Blue Business Plus Credit Card From American Express

The American Express Blue Business® Plus Credit Card is the best no-annual-fee (see rates and fees) Amex small-business card. Each calendar year, it offers two Amex Membership Rewards points for every dollar spent on the first $50,000 in purchases (then 1 point per dollar). Membership Rewards points are extremely valuable because they can be transferred to over 20 airline and hotel partners.

This card not only has no annual fee, but it also allows you to earn twice as many Amex points for purchases that do not fall into one of the other cards’ bonus categories. Every year, you receive 2 points for every dollar spent on the first $50,000 in purchases (then 1 point per dollar).

Frequently Asked Questions

  1. Who can apply for a small business credit card?

    Small-business credit cards are available to anyone who is looking to make a profit by selling goods or services. This is true for all sole proprietors, including freelancers, independent contractors, and gig workers. You are not required to be a limited liability company (LLC), corporation, or any other type of formal business structure.

  2. Is it true that a business credit card affects my personal credit score?

    The effect of a business credit card on your credit score depends on the type of card you have. Your employer’s corporate card has no effect because all account activity is reported on the employer’s credit file, not yours.
    However, if you apply for a small-business card on your own, the activity on the account may appear on your credit report and affect your score, especially if the activity is negative, such as an omitted payment or default.

  3. Is it really necessary to own an actual business to get a small business card?

    To qualify for a small-business credit card, you must generally run a business, but that business does not have to be incorporated or even have a formal structure, such as a partnership or LLC. You can also apply for a small-business card if you are a sole proprietor, freelancer, or “gig” worker.

1 thought on “7 Best Business Credit Cards Of 2022 | Review”

Leave a Comment