The GM Business card is a low-cost but unconventional business card. The benefits offered through Mastercard can be enticing along with its 3 percent rewards rate on gas, dining and purchases at office supply stores. However, the drawback of the highest rewards rate being on car purchases and the very GM-focused reward redemption options can turn away quite a few people. Here are a couple options that may fit your business better.
GM Business Card vs Chase Ink Business Cash Credit Card
For a card that meets more standard business needs, the Ink Business Cash® Credit Card is a great fit. One of its strongest points is the 5 percent cash back on the first $25,000 spent on combined purchases of office supplies stores, internet, cable and phone services, especially when combined with its intro APR offer for purchases. It also has a good range of redemption options as you can redeem cash back for gift cards, travel rewards, or pay with points for select products or services.
The main drawbacks of this card are its fees and welcome bonus. Unlike the GM Business Card, the Ink Business Cash card comes with a 3 percent foreign transaction fee and a 5 percent or $5 balance transfer fee, whichever is greater. That’s higher than the average balance transfer fee. The card’s welcome bonus has a high spend requirement — Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. However, you do have more accessible redemption options for that bonus, so keep that in mind.
GM Business Card vs Capital One Spark Miles for Business
The Capital One Spark Miles for Business is a great flat-rate option for business owners who don’t want to be limited by categories, offering unlimited 2 percent cash back on all purchases. The welcome bonus of 50,000 miles after spending $4,500 within the first three months, worth up to $1,000 when you redeem through Capital One’s travel portal, is also strong. There’s also the additional benefit of the $100 TSA Precheck or Global Entry credit, a great perk for frequent flyers. Other perks include free employee cards, discounts through Paribus and Spring as well as purchase and account protections.
However, this all comes at a cost. After the first year, your annual fee will be $95 and the APR is 25.99% (variable), which can be steep for those who tend to keep a balance on their card. Still, the price and high interest may be worth the overall flexibility.