In this article, we'll explore some of the best business credit cards for startups that offer great benefits and rewards.
Benefits of Using a Business Credit Card for Your Startup
Before we dive into specific credit card options, let's first discuss the benefits of using a business credit card for your startup. One of the primary advantages is that it helps you separate your personal and business expenses, making it easier to track your company's finances. Additionally, using a business credit card can help you build your business credit profile, which can be beneficial when seeking financing or partnerships in the future.
Another key benefit of using a business credit card is the opportunity to earn rewards on your company's spending. Many business credit cards offer rewards points or cash back on certain categories of purchases, such as office supplies, travel, or advertising. These rewards can add up quickly and provide significant savings for your startup.
Top Business Credit Cards for Startups
Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card is a popular choice among startups for its generous rewards program. With this card, you can earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year. Additionally, you'll receive a sign-up bonus of 100,000 points after spending $15,000 in the first 3 months.
One of the key benefits of the Chase Ink Business Preferred Credit Card is the flexibility of the rewards program. Points can be transferred to several travel partners at a 1:1 ratio, allowing startups to maximize their rewards for flights, hotels, and other travel expenses.
American Express Business Gold Card
The American Express Business Gold Card is another great option for startups looking to earn rewards on their business spending. With this card, you can earn 4X Membership Rewards points on the 2 select categories where your business spent the most each month. Categories include airfare purchased directly from airlines, U.S. purchases for advertising in select media, select technology providers of computer hardware, software, and cloud solutions, and U.S. purchases at gas stations, and on wireless telephone services purchased directly from U.S. service providers.
In addition to the rewards program, the American Express Business Gold Card offers benefits such as no foreign transaction fees, purchase protection, and access to the American Express Global Lounge Collection. These perks can provide added value for startups that frequently travel or make large purchases for their business.
Capital One Spark Cash for Business
If your startup prefers cash back rewards over points, the Capital One Spark Cash for Business card is a great choice. With this card, you can earn a flat 2% cash back on all purchases with no limit on the amount you can earn. Additionally, you'll receive a one-time $500 cash bonus after spending $4,500 in the first 3 months.
One of the key benefits of the Capital One Spark Cash for Business card is the simplicity of its rewards program. There are no categories to track or limits on the amount of cash back you can earn, making it easy to redeem your rewards for statement credits or checks to help your startup's bottom line.
Conclusion
Choosing the right business credit card for your startup can provide significant benefits and rewards for your company. Whether you prefer travel rewards, cash back, or other perks, there are several options available that cater to the needs of startups. By carefully evaluating the features and benefits of each card, you can select the best business credit card to help your startup thrive.
For more information on business credit cards and financial tools for startups, be sure to check out Forbes, NerdWallet, and CreditCards.com.
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