Gone are the days when small business owners were unable to find the resources to fund their businesses. Now, traditional lenders, alternative lenders, and business credit cards are all set to serve. Even if you don’t have proper documentation to qualify for a traditional loan or access to filled networks, just know the nature and demand of business and you are likely to nail a handsome business credit card deal. Use it to inject your small business with cash flow.
Why use Business Credit Cards?
The plastic card comes with a wide range of additional benefits:
- Higher than normal spending limit
- Irresistible Rewards Program
- Low ARP’s
- Exciting Balance transfer promotions
- Fringe benefits
Best Business Credit Cards in the Market
- Chase Ink Business Unlimited Credit Card
With no annual fee and free business card, this credit card lets you earn $500 cash when you have spent $3,000. Remember to spend the monies in the first three months of credit card purchase.
One of its other advantage- auto rental insurance. Moreover, redeem all of the bonus points and invest the cash in your small business.
- Chase Ink Business Cash
This comes with lavish and liberal cash back and rewards programs when you spend $3,000 you get $5,000 back, but only when you spend the said cash within the 3 months. Use this credit card to buy office supplies and make telecommunication purchases. This all accounts for $25,000 per year, making it a steady offer. The redeem point starts at $20, for example, $500 turns to $650 in cash back.
- Chase Ink Business Preferred Credit Card
Even though it comes with an annual fee of $95, its substantial rewards program makes it up for the fee. With this impressive program, you get 3 points on each and every dollar spent on shipping purchase, travel, advertising, internet, mobile, and cable bills. All of this is up to $150,000.
You can also earn rewards points by transferring them to programs such as the British Airways Executive Club on a 1 to 1 ratio. Furthermore, the redemption options include cash, gift card, travel, standard merchandise, Amazon.com purchases and much more. One more thing, this offer also covers your cell phone protection plan.
Use these resources wisely to uplift your small business.
- Capital One Spark-Cash for Business
If your business revolves around traveling, then this card will benefit you a lot. Here travel card, rates, fees, and early bonuses are cash based. If you spend $4,500 in the first three months of the purchase, you will be rewarded $500 as a bonus. In addition to this, it comes with a $95 annual fee, no ARP. Use the plastic strategically and spend the rewards on your small business.
- Capital One Spark-Miles for Business
One of its kind, miles for business has a $95 annual fee, but its social travel rewards program is hard to miss. Its perk includes Capital One’s emergency assistance, if you need to cancel due to illness, accident and other uncontrollable events, don’t worry, this program will reimburse your canceled plans and trips.
Apart from these five, there are other multiple credit cards that are highly recommended due to their benefits and rewards. Such as: The Business Platinum card from American Express, American Express Business Gold Card, Simply Cash Plus Business Credit Card from American Express and the list is endless.
Design a decent credit card scheme so that you can save enough money to enjoy your dream trip or reward a deserving employee.
How can you use rewards to your benefits?
Credit cards are designed keeping a specific business in mind, so if you browse and research carefully, you will find a credit card that suits your business perfectly. You can use those multiple rewards and benefits as you see fit.
- Invest in your business. Use the cash back from redeemed points to launch a new product, research, development, upgrade technology and equipment and much more.
- Treat your employees. Show gratitude towards your employees by spending some cash-back on them as they are the backbone of your small business. Take them out on a dinner, or pay for their plane ticket.
Be creative and wise in your dealings with the credit card. Don’t purchase more than the needs of your small business.
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