The New Year is upon us, and for many entrepreneurs and small business owners, 2013 brings a renewed energy to grow our businesses. If your start-up or small business does not yet have a credit card, it’s a good idea to look into applying for one. Business credit cards bring a number of benefits to the table including building your business’s credit score, keeping personal purchases and business purchases separated, rewards points, and year-end reporting to help with filing taxes. Determining which small business credit card is right for your business can be confusing and time consuming, so this article will break down the top three small business credit cards of the year.
Here are the top three small business credit cards of 2013:
- The Business Platinum Card from American Express OPEN – The Business Platinum Card from American Express OPEN is my choice for the best business credit card available this year. The American Express Business Platinum Card allows cardholders to select an airline to receive up to $200 in credits each year to cover incidentals such as baggage check fees, in-flight dining, and flight change penalties. In addition, the card offers a 20% Travel Bonus to cardholders when they redeem their Membership Rewards Points on travel items. The Business Platinum Card from American Express OPEN also offers 24/7 concierge service, business consultants, airport lounge access to over 600 lounges across the world, no pre-set spending limit, and exclusive access to events such as concerts and shows. The American Express Business Platinum card is a great choice for cardholders that travel frequently for business.
- Capital One Spark Cash for Business – The Spark Cash for Business Card from Capital One is my pick for the best cash back business credit card of the year. With the Capital One Spark Cash for Business Card, cardholders receive 2% cash back on every single purchase they make, as well as a $100 cash bonus when they spend $1,000 in the first three months that they own the card. In addition, the card offers a $50 cash bonus when a business is approved for one or more employee cards. The annual fee for the Capital One Spark Cash for Business is $59, but it is waived for the first year. Lastly, the Spark Cash for Business card from Capital One offers excellent small business customer service.
- CitiBusiness ThankYou Card – The CitiBusiness ThankYou Card rounds out my list of the best small business credit cards for 2013. With the CitiBusiness ThankYou Card, cardholders receive 15,000 ThankYou reward points when they make $3,000 in purchases on the card within the first 3 months of having the card. In addition, the card offers 3 ThankYou points on purchases in certain categories that rotate throughout the year, as well as a 0% Intro APR on purchases for the first 6 months. There is no annual fee to own the card, but the card is aimed at businesses that already have an established credit report. ThankYou points earned by using the CitiBusiness ThankYou Card can be redeemed for a large variety of different things including office supplies, consumer electronics, gift cards, flights, hotel stays, and cash.
This post was written by Logan Abbott, a personal finance and credit card expert with over five years of experience writing about and analyzing the credit card industry.