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Popular small business credit cards

By Mitch Strohm · Bankrate.com
Sunday, February 12, 2017
Posted: 5 pm ET

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Outstanding rewards, low interest rates and versatile redemption options are some of the hallmarks of great small business credit cards.

These cards also have easy-to-understand rewards systems, an important trait in a card when running a business.

How you spend will determine which card is right for your wallet. If you're interested in a way to finance your business and maintain working capital, a low-interest business card might be ideal for your situation. But if you're after perks, and you don't often carry a balance, a rewards card can be a good fit.

Here are the three popular small business credit cards as chosen by the experts at CreditCards.com.

CARD SEARCH: Which card is right for you? Compare business credit cards now.

Popular small business credit cards
Card Rewards Variable APR
Capital One Spark Cash for Business Unlimited 2% cash back 17.99%
Chase Ink Business Preferred Three points per $1 on business purchases 16.99% to 21.99%
Starwood Preferred Guest Business Two points per $1 on eligible Starwood purchases 16.24 percent to 20.24 percent (See Rates & Fees)

1. Capital One Spark Cash for Business

The Spark card's simple and generous cash-back rewards program puts it in the top spot.

Highlights:

  • Earn 2 percent cash back on every purchase.
  • Receive a $500 bonus when you spend $4,500 within the first three months.
  • The card carries a $59 annual fee, which is waived the first year.

Who should get this card
This card is ideal for the small business owner interested in unlimited cash-back earnings, substantial sign-up bonus opportunities and straightforward redemption options.

It's especially useful to big spenders who consistently pay off their balance in full. Monthly spending of $10,000 could earn you yearly cash-back rewards of $2,400.

While the rewards are substantial, there is no interest-free introductory period. The variable 17.99 percent APR makes it tough to finance large purchases without incurring big interest charges. And if you're looking for rewards in specific spending categories, there are better options available.

CARD SEARCH: Your small business needs a small business credit card. Find one now.

2. Chase Ink Business Preferred

The Ink Business Preferred's substantial sign-up bonus and generous rewards make this credit card shine.

Highlights:

  • Earn three points per $1 on the first $150,000 spent annually on combined travel, shipping purchases, internet, cable and phone services and advertising purchases made on social media and search engines.
  • Earn one point per $1 spent on all other purchases.
  • Receive 80,000 bonus points after spending $5,000 in the first three months. The bonus is worth up to $1,000 in travel rewards when redeemed through Chase Ultimate Rewards.

Who should get this card
Small business owners who spend heavily on the the card's bonus categories should consider applying. And with no foreign transaction fees and trip cancellation insurance, it's also great for small business owners who travel.

But if your business expenses don't include much in the way of cable or phone costs, for example, this card may not benefit you much. It carries a $95 annual fee and a variable APR of between 16.99 and 21.99 percent.

CARD SEARCH: Compare small business credit card offers now.

3. Starwood Preferred Guest Business

This card issued by American Express stands out as a travel card for small business owners -- with a pretty compelling sign-up bonus. Terms apply.

Highlights:

  • Earn two points per $1 on eligible Starwood purchases, making it a top card for those who frequently travel for business and stay at Starwood and Marriott hotels.
  • Earn one point per $1 spent on all other purchases.
  • Earn 25,000 points after you spend $5,000 within the first three months.

Who should get this card
Ideal for the frequent business traveler, the Starwood Preferred Guest might be right for you if you're looking for a card that offers upscale hotel options and flexible reward redemption choices.

It comes with a long list of perks, including free hotel internet access, travel insurance and the ability to transfer points to a wide range of frequent flier programs.

But while this card offers access to more than 1,300 hotels and resorts worldwide, you may find you're limited in hotel options. Make sure you'll be able to use this card in the areas you frequent most.

The card carries a $95 annual fee, which is waived for the first year. The variable APR is between 16.24 percent and 20.24 percent.

Follow me on Twitter: @MitchStrohm

This editorial content is not provided or commissioned by any of the referenced financial institutions or companies. Opinions, analysis, reviews or recommendations expressed here are the author’s alone, not those of any financial institutions or companies, and have not been reviewed, approved or otherwise endorsed by any such entity. All products or services are presented without warranty. Bankrate.com is an independent, advertising-supported publisher and comparison service. This post contains references to our partners, and Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on certain links posted on this website.

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