Introduction
When looking for the best credit cards to get for a startup SAAS company, the Blue Business Cash card from American Express is an excellent option. It has no annual fee, free employee cards, and rewards customers with 2% cash back on all eligible purchases up to $50,000 per calendar year and then 1% cash back on everything else.
Additionally, Blue Business Cash also offers a 0% introductory APR on purchases and balance transfers for 12 months plus a long introductory APR period of 36 months. Furthermore, American Express will report your credit history to the business credit bureaus.
When selecting the right credit card for startups features such as rewards programs, spend categories, introductory bonuses and introductory APRs should be considered in order to find the most suitable choice with no annual fees.
1. The Business Platinum Card® from American Express
The Business Platinum Card® from American Express offers a variety of benefits for startup owners, including the welcome bonus of 120,000 Membership Rewards points after spending $15,000 on qualifying purchases within the first 3 months of account opening.
The card also provides access to American Express Global Lounge Collection and rewards for travel spending and other purchases. Other benefits include:
- A $200 airline fee credit each year.
- No foreign transaction fees.
- 35% airline bonus when you pay with points,
- Dell Technologies Credit is worth up to $200 each year.
- Exclusive access to over 1,300 airport lounges.
Finally with its Pay Over Time feature users can carry a debt balance and earn interest on purchases of $100 or more.
The Business Platinum Card from American Express is an ideal choice for those looking for great rewards and benefits. It offers a welcome bonus of 120,000 Membership Rewards points after spending $15,000 in the first three months, discounts on Dell Technologies products and services, access to over 1,300 airport lounges worldwide, and no foreign transaction fees.
Additionally, cardholders can carry a statement credit balance and earn interest on purchases of $100 or more. This card is perfect for entrepreneurs who travel often as it will help you save money while enjoying the best service available at airports around the world.
The Business Platinum Card from American Express can help a startup saas company by providing access to high rewards rates on eligible purchases, exclusive programs, over 1,300 airport lounges in over 140 countries, free employee cards, and a long introductory APR period.
Additionally, the card reports credit history to the business credit bureaus so that it can be used for future funding options. Other benefits include 0% introductory APR on purchases and balance transfers for the first 12 months as well as access to valuable discounts and resources.
The Business Platinum Card from American Express offers a variety of benefits for those who are looking for travel rewards and convenience. This card has a 35% airline bonus which makes it easy to book travel quickly and with few fees, as well as up to $200 in Dell Technologies Credit each year.
It also provides Membership Rewards Points which can be used to save on airline fees and hotel transfer partners. Additionally, the card offers 5 points for every $1 spent on flights or prepaid hotels booked through amextravel.com, 1.5 points for every eligible purchase of $5,000 or more, and a welcome bonus of 120,000 Membership Rewards points after spending $15,000 within your first 3 months of account opening. The card also has no foreign transaction fees and a $695 annual fee – making it an ideal choice for startups looking to maximize their savings potential while traveling.
The Business Platinum Card from American Express can be used to help manage business expenses in various ways. It offers a welcome bonus of 120,000 Membership Rewards points after you spend $15,000 on qualifying purchases within your first 3 months of account opening, 1.5 points for every $1 spent on eligible purchases of $5,000 or more, and an annual fee credit of up to $200 each year.
Additionally, the card comes with no foreign transaction fees and a 35% airline bonus for select flights booked through American Express Travel. The card also features exclusive benefits such as access to the American Express Global Lounge Collection and Membership Rewards Points that can be used towards airline fees or hotel transfer partners. Finally, the Pay Over Time function allows businesses to carry statement credit balances while earning interest on purchases over $100.
2. The Ink Business Cash℠ Credit Card
The Ink Business Cash Credit Card offers a range of benefits to business owners including a generous signup bonus, no annual fee, 0% intro APR on purchases for 12 months, and free employee cards, as well as a tiered cash back rewards system based on different categories of spending.
Additionally, cardholders receive 5% cash back on every purchase made with no limit and an annual fee of $0. Approved for use in the United States, this could be an ideal credit card option for startup SAAS companies.
The Ink Business Cash℠ Credit Card is a good choice for businesses due to its generous signup bonus, no annual fee, and tiered rewards system based on different categories of spending. It also offers high rates of cash back on certain purchases, making it an attractive option for businesses. Additionally, it offers 5% cash back on all purchases without the need to keep up with a complicated rewards system.
The Ink Business Cash Credit Card is an ideal choice for startup companies looking to lower their cost of credit and maximize rewards. With this card, businesses can earn 5% cash back on office supplies, internet, cable, and phone services up to $25,000 each year as well as 1% cash back on all other business purchases.
Additionally, the card offers 0% APR for the first 12 months and a $750 bonus when spending $7,500 during the first three months after opening an account. Plus there are no annual fees or fees for employee cards making it one of the most rewarding cards available to startups. Any earned rewards can be reinvested into a startup which makes it a great choice for those starting out in their business journey.
- This card charges a $0 annual fee, waives the fee that some business credit cards charge for employee cards, and offers 5% cash back on up to $25,000 spent in combined purchases each account anniversary year at office supply stores and on the internet, phone and cable services. So it’ll be easy to reinvest your rewards into your startup.
- You can use this card to easily manage your finances and scholarships while still focusing on growing your business.
- If you’re interested in this card, be sure to read our review of the Ink Business Cash® Credit Card before applying.
The Ink Business Cash Credit Card can be used to help businesses save money on expenses such as office supplies and cable TV. With the card, businesses can earn 5% cash back on every purchase with no annual fee, which can then be reinvested into the business to help it grow. The card is also focused on helping business owners grow their startups and provides an easy way to manage rewards.
3. The Marriott Bonvoy Business™ American Express® Card
The Marriott Bonvoy Business™ American Express® Card offers many benefits to users, including a fast approval decision process and great rewards specifically for hotel purchases.
Additionally, the card is easy to use with helpful features such as the American Express Business App.
Users can also save money on restaurants, gas stations, shipping firms, and wireless phone services when using this card. The automatic elite status and rich rewards that come with it make up for its $95 annual fee.
The Marriott Bonvoy Business™ American Express® Card is a great choice for businesses that need to make quick and easy purchases. With the American Express® Business App, companies can easily create and manage receipts, calculate discounts, and keep track of their cash flow.
The card offers a welcome bonus of 120,000 Membership Rewards points after spending $15,000 on qualifying purchases in the first three months and five points per dollar spent on flights booked through amextravel.com.
Additionally, there are no foreign transaction fees with this card, making it ideal for businesses that travel or deal with international customers. Along with other benefits such as auto-expenditure categorization and the ability to control staff spending; having access to the American Express Global Lounge Collection; a $200 airline fee credit each year; two free nights when you spend $10,000 in one calendar year on travel purchases; all make this an attractive option for business owners looking for an all-in-one solution for their company’s credit needs.
The Marriott Bonvoy Business™ American Express® Card can provide startup saas companies with a variety of benefits, such as:
- 6X points on a hotel stay booked through the Marriott Bonvoy program.
- The ability to create invoices and calculate discounts and margins using the American Express Business App.
- No annual fee, and free employee cards.
- A flat-rate cash-back rewards program.
- 2% cash back on all eligible purchases up to $50,000 per calendar year and then 1% afterward.
an introductory APR period for purchases and balance transfers of 0% for 12 months after which your spending will be subject to an APR that varies with the market. Additionally, American Express reports credit history to business credit bureaus which can help build business credit.
Before getting the Marriott Bonvoy Business™ American Express® Card, it is important to consider the annual fee of $95 and benefits such as the ability to control employee spending, earn free travel, and get discounts on hotel stays and airfare. It is also important to keep in mind that you can receive a welcome bonus of 120,000 Membership Rewards points after you spend $15,000 on qualifying purchases within your first 3 months of account opening.
Additionally, this card offers five points for every $1 spent on flights and prepaid hotels booked through amextravel.com as well as other rewards for travel spending and other purchases. Finally, it is worth noting that this card has Global Lounge Collection access with no foreign transaction fees which may make it worthwhile despite its high annual fee of $695.
4. The Amazon Business Prime American Express Card
The Amazon Business Prime American Express Card offers a range of benefits to users, including no annual fee, cash back rewards of 1%-5%, and the ability to pay off purchases over time or with rewards.
It requires an Amazon Prime membership and provides purchase credits from Amazon.com, Amazon Web Services, or Whole Foods Market that earn 5% cash back instead of extra time to pay off purchases.
Additionally, there is a $125 Amazon gift card when you sign up and a 90-day no-interest payment plan. The card also offers 5% Back on the first $120,000 in purchases each calendar year and 1% Back on other purchases.
The Amazon Business Prime American Express Card is an ideal choice for startup companies due to its beneficial features. This card offers a 0% APR for the first twelve months, as well as $750 bonus cash back when customers spend $7,500 in the first three months. The card also reports credit history to business credit bureaus, helping startups build their business credit from the start. Furthermore, it comes with a generous rewards program and low cost that makes it ideal for LLCs and consultants too.
The Amazon Business Prime American Express Card offers many potential benefits to those using it wisely, such as no-extra-cost employee cards, purchase protection, extended warranties, and travel insurance.
By earning rewards in bonus categories that are most beneficial to you, such as cashback or points that can be redeemed for more valuable rewards, you can maximize your return on investment.
Additionally, by making sure to compare fees and rewards before applying for a card – since some charge high annual fees – you can minimize the costs of using the card.
The Amazon Business Prime American Express Card offers a wide range of benefits to help businesses get started.
These benefits include:
- Bonus points or miles for rewards.
- Cash back discounts on purchases.
- Travel and medical coverage.
- Free warranty protection.
- Increased buying power that allows the user to spend more than their credit limit when necessary.
- Reimbursement for theft or damage up to a certain limit.
- An extended warranty and the ability to add Amex Offers from the American Express app.
Additionally, Amex will work with customers should they spot any fraudulent or incorrect charges on their bills.
5. The Capital On Tap Business Credit Card
The Capital On Tap Business Credit Card is a good option for businesses because it offers free cards and spending management tools, a $200 bonus for spending $15K in the first three months, 1% Cash Back on all purchases, 5% Cash Back on hotels and rental cars booked through Capital One Travel, no annual fee and no hard pull on your credit. The APR ranges from 9.99% to 34.99%, making it an attractive choice for business owners looking for rewards without sacrificing affordability.
The Capital On Tap Business Credit Card offers a variety of beneficial features for business owners looking to fund their growing venture.
It offers:
- Free cards to employees.
- Spending management tools.
- Integrations with accounting software.
- A $200 bonus if you spend $15K in the first three months.
Additionally, the card has an APR of 9.99%-34.99%, allowing business owners to maintain control over their finances without having a long-term balance.
The Capital On Tap Business Credit Card is the best credit card for startup companies due to its long introductory APR period, cash-back bonus when spending $7,500 in the first three months, and free employee cards.
It also provides a 0% APR for up to 12 months and a great rewards program. This makes it ideal for LLCs and consultants looking to lower their credit costs while still earning rewards. Additionally, American Express reports your credit history to the business credit bureaus so you can use this card to build your business’s credit score.
Business owners can get the Capital On Tap Business Credit Card by applying online. The card offers a low-interest rate and fast turnaround time, allowing business owners to quickly access funds for their startup SAAS company. With 5% cash back on every purchase, no annual fee, and no hard pull on the credit score, it is an attractive option for businesses with high credit needs. Additionally, there is a 0% introductory APR for the first 12 months and bonus miles when signing up and making their first purchase.
6. The U.S. Bank Business Platinum Card
The U.S. Bank Business Platinum Card offers a long 0% APR period and low ongoing APR, as well as no annual fee for business owners who plan to carry a balance.
It also provides 0% intro APR for 20 months, the ability to transfer balances at 3%, and roadside assistance and travel insurance benefits. Additionally, it offers up to a 99% interest rate if you carry a balance after the introductory period but does not reward cash back or points for purchases.
The U.S. Bank Business Platinum Card offers a variety of benefits, including
- A 0% APR period for 18 billing cycles.
- Low ongoing APR
- No annual fee.
Additionally, it provides generous rewards on purchases at gas stations and restaurants, as well as a 20-month 0% interest period and low ongoing APR that make it great for start-up business owners who travel often and non-profit organizations.
The U.S. Bank Business Platinum Card can be a great choice for startups due to its low annual fee and long 0% APR period on purchases and balance transfers. This card also offers no membership fees, making it a cost-effective way to access credit when needed.
Additionally, the ongoing APR is lower than the U.S. Bank Triple Cash Rewards World Elite Mastercard®, even though it does not offer introductory or ongoing rewards like the Triple Cash Rewards World Elite Mastercard® does offer. Furthermore, there is no initial rewards bonus required with this card, which could make it particularly attractive to startups looking for ways to save money while accessing credit when needed.
Before applying for the U.S. Bank Business Platinum Card, it is important to consider the benefits of the card and how they match up with your business needs. It is also important to consider the length of the 0% APR period, as well as any ongoing APRs and annual fees associated with owning a credit card. Additionally, potential applicants should determine if they need reward features or if a low-interest rate may better suit their financial needs.
7. The American Express® Blue Business Cash™ Card
The American Express Blue Business CashTM Card offers many benefits for self-employed individuals. Its flexible credit limit and rich rewards make it an attractive option.
Additionally, it’s 0% introductory APR for the first 12 months helps keep costs low while earning rewards. Furthermore, there is no annual fee on the card and it offers a solid cash-back rate.
The American Express Blue Business Cash Card offers numerous benefits for business owners, including:
- Expanded Buying Power,
- 0% introductory APR for the first 12 months.
- A points-based rewards program instead of cash back and 12-month interest-free financing on purchases.
Additionally, there is no annual fee, and businesses with no credit history can take advantage of this card.
The American Express® Blue Business Cash™ Card can be a great option for startups looking to finance their business. With no annual fee, a 0% introductory APR on purchases and balance transfers for the first 12 months, and 2% cash back on all eligible purchases up to $50,000 per calendar year, this card can help your business with financing needs.
Additionally, after the first 12 months, the APR jumps to a variable rate between 13.49% and 21.49%, making it easier to pay down existing debt or make large purchases without paying interest until then.
Furthermore, you get an introductory rate of 0% for the first 3 months and your rewards are credited automatically into your account – no extra effort needed! A comparison chart also provides an overview of key features of this card compared with others available on the market so you can make an educated decision about which one is best for you.
Potential downsides of the American Express® Blue Business Cash™ Card include an annual fee of $0.00, a flexible spending limit based on your use of the card, payment history, credit record, and other factors, and no points rewards program. Additionally, some users may be looking for higher cash-back rates or a more generous cash-back welcome offer than what is offered.
8. The Business Green Rewards Card from American Express
The Business Green Rewards Card from American Express offers numerous benefits, such as 0% introductory APR for the first 12 months, a $250 statement credit after the first three months of ownership, and no annual fee. This card is recommended for self-employed people due to its generous rewards program and flexible credit limit.
The Business Green Rewards Card from American Express offers a range of benefits to cardholders, including:
- 0% introductory APR for the first 12 months,
- A $250 statement credit after the first three months and flexible credit limits.
Additionally, cardholders can take advantage of Expanded Buying Power which allows them to spend up to $50,000 per calendar year on eligible purchases.
The Business Green Rewards Card from American Express can be of great help to a startup SAAS company by providing access to a long APR period, which makes it easier to pay down debt or make large purchases early on.
Additionally, the card has no preset spending limit and no foreign transaction fees, making it well-suited for larger purchases. Furthermore, it earns 1.5% cash back on all spending regardless of how you pay off the credit card debt. Finally, this card carries an annual fee of $250 but may be worth considering if your startup requires more extensive purchases in its first year of operation.
The Business Green Rewards Card from American Express offers increased spending power for new business owners who do not have established business credit.
The card offers 2% cash back on all eligible purchases, up to $50,000 per calendar year, with no annual fee and 0% introductory APR for the first 12 months. Additionally, users can benefit from the Expanded Buying Power feature which allows them to spend beyond their credit limit when necessary. A $250 statement credit is also available after the first three months when at least $3,000 is spent on purchases.
9. The Wells Fargo Business Secured Credit Card
The Wells Fargo Business Secured Credit Card provides a flexible rewards system, no annual fee, and a $300 bonus offer for signing up. It has a max credit line of $25,000 and allows users to earn up to 3X the points on their spending as long as they meet the minimum spend requirement each billing period.
This card also requires no credit check and is aimed at applicants with poor or no credit record – giving them an opportunity to get started with their business while building their credit history.
Someone would want to get the Wells Fargo Business Secured Credit Card because it offers:
- Rewards in the form of miles or cash back.
- Is perfect for people with low credit scores or no credit history.
- Has no annual fee.
- Allows users to build business credit over time.
Additionally, it has a high score for security, making it ideal for people with poor credit or a lack of established credit.
The Wells Fargo Business Secured Credit Card can help startups with limited credit history get started by providing a security deposit which becomes their credit limit and no credit check. It also offers 5% cash back on purchases, as well as flexible rewards such as miles or cash back that can be redeemed for rewards. This card is an ideal option for SAAS companies looking to build their credit and take advantage of rewards programs.
When using the Wells Fargo Business Secured Credit Card, it is important to consider the annual fee, bonus offer, and rewards scheme. Additionally, it is important to keep in mind that a security deposit of $500 to $25,000 is required for this card and will become your credit limit. Lastly, businesses with bad personal credit may still be eligible for this card as there are cards available that don’t require a credit check or those specifically designed for businesses with poor or no credit history.
10. The Brex Card for Startups
The Brex Card is a corporate card designed specifically for startups and businesses with an annual turnover of $100,000 or more. It does not require a personal credit check and has no annual fee. The card offers high credit limits and no foreign transaction fees, allowing startup businesses to manage their funds more easily.
Rewards points can also be earned based on the spending habits of the business. Additionally, there is no personal guarantee required or impact on the user’s personal credit score associated with this card, making it ideal for those who want to keep their finances separate from their business ventures.
The Brex Card is an ideal credit card for startups due to its high credit limits, no annual fee, and no foreign transaction fees. Additionally, the card allows startups to earn rewards points based on their spending and is approved based on the business’s finances rather than a personal credit score. The card also offers additional benefits such as waived card fees and 30,000 in rewards points upon sign-up.
Furthermore, it operates as a charge card which means that there are no interest payments but the balance must be paid in full each month. Finally, using the Brex Card helps build up business credit scores while protecting against personal finance risks with 24-26.24% APR rates and a $0 annual fee with 1 – 7 reward points per $1 spent on eligible purchases.
The Brex Card for Startups is a business credit card that requires no personal credit check and comes with no annual fee. It provides high credit limits and rewards points for spending on categories such as rideshare, travel, restaurants, and software subscriptions. The Brex Card is a charge card that does not require any personal guarantee.
There are also no interest rates or late fees associated with the card payment. Furthermore, payments made using the Brex Card will be reported to business credit bureaus. To be eligible for the card, startups must meet certain requirements such as having a good business credit score and not having any existing personal debts.
The Brex Card offers several benefits to startups, such as no annual fee, no personal guarantee, high credit limits, and no foreign transaction fees. Additionally, businesses can earn rewards points based on their spending habits. Furthermore, the Brex Card is a charge card so there is no interest but users must pay their balance in full each billing cycle. The generous spending limit and FDIC insurance on cash deposits make it an attractive option for funded startups who are looking for a convenient and secure way of managing finances.
What are the benefits of using a credit card for small business owners?
1. Ability to access credit for business operations
Small business owners understand the importance of having access to credit. Credit allows them to purchase needed materials and services, finance their operations, and even make payroll.
Business credit cards provide a valuable resource for small business owners who may have poor credit histories or lack established sales revenue. By evaluating applications based on personal credit history, these cards offer an alternative source of funds that can help entrepreneurs launch and grow their businesses.
2. Rewards and cash back for purchases
Small business owners can benefit from using credit cards by building their credit history, financing purchases, and improving their cash flow. Moreover, they can also take advantage of rewards programs that offer tiered offers with percentages of their spending or flat cashback on select local and national merchants.
3. Low-interest rates for purchases
Low-interest rates on credit card purchases can be beneficial for small business owners, as they offer the opportunity to make purchases and pay off the balance without incurring any interest.
This can be especially advantageous for startup businesses, as an introductory 0% rate offers to provide a window of opportunity to utilize that financing free of charge. Furthermore, many low-interest rate cards come with no annual fee and unlimited 0 percent financing.
4. Increased purchasing power
Increased purchasing power is a major benefit for small business owners because it allows them to purchase more than their credit limit and enjoy introductory APR on purchases.
It also enables them to reduce their credit costs, as well as enjoy rewards like cash back or points on eligible purchases. Having increased purchasing power can help small business owners stay competitive in the market and invest in growth opportunities.
5. Improved budget management
By using a credit card, small business owners can help manage their budgets more efficiently. With the right card, they can earn up to 5% cash back on all of their purchases without needing to track or manage rewards and with no annual fee.
Additionally, the use of a credit card reduces the risk associated with late payments, annual fees, and interest rates, which helps to lower business profits.
6. Access to business-specific rewards
Credit card companies offer a range of business-specific rewards, such as bonuses and miles for flights and hotels, digital receipts, free warranty protection, travel, and medical coverage, exclusive benefits, and upgrades, and pay over-time statement credit balances with interest on purchases of $100 or more.
Examples of cards offering these features include the Business Platinum Card from American Express which offers high rewards rates on a variety of purchases including airfare, hotels, and resort programs.
7. Ability to build business credit
Business credit is an important tool for small business owners, as it provides a source of capital and allows them to purchase the materials they need to stay competitive. Establishing a good credit rating with lenders, suppliers, and vendors is key for keeping up with payments in order to secure future loans or lines of credit.
To build a strong business credit profile, small businesses should take steps such as obtaining necessary licenses and permits, setting up a business bank account, applying for vendor or supplier lines of credit (and paying them on time), and using their credit cards responsibly (by not spending more than 30% of their total limit). With the right strategy in place regarding managing business finances, entrepreneurs can use their business’s access to funds as an advantage against competitors.
8. Flexible payment options
Small business owners who are looking to obtain credit cards for their startup SAAS company may want to look into Ramp’s “Flex” feature and Leap program. The Flex feature provides businesses with the ability to immediately pay vendors, but with a 1% monthly interest rate. The Leap program allows business owners to earn a credit line increase in 6 months by making qualifying on-time payments.
9. Longer payment windows
Having a longer payment window is one of the benefits of using a credit card for small business owners because it allows them to avoid paying the 1% monthly cost associated with Ramp Flex financing.
Additionally, credit cards provide more flexibility and access to extended lines of credit than other forms of financing, making them ideal for startups and small businesses that may not qualify for traditional loan options. Therefore, the best credit cards to get for a startup SAAS company would be those which offer long payment windows and flexible lines of credit.
10. Security and fraud protection
Small business owners who use credit cards must ensure that their transactions are secure and protected from fraud. Without the proper security and fraud protection measures in place, small business owner risks overextending themselves financially due to fraudulent activity on their accounts.
Credit card companies often offer additional protection for cardholders such as purchase, fraud, and extended warranty protection, making it important for small businesses to select the right credit card for their needs.
How to manage finances with multiple credit cards?
Step 1: Research the best credit cards for startups
Startups should look for the best business credit cards with 0% APR promotions, $0 annual fees, and standout rewards. Additionally, applicants’ personal creditworthiness should be taken into account when deciding on approval.
Step 2: Compare offers based on the features that will affect you the most
It is important to compare credit card offers before signing up for one because it allows a startup to make an informed decision about what works best for their specific needs.
WalletHub provides a comparison of available credit cards and evaluates them based on rewards value, APR, as well as approval requirements. This helps startups make an educated choice when selecting the best credit card for their business.
Step 3: Consider using a general-consumer credit card instead
When managing finances with multiple credit cards, it may be a better option to use a general-consumer credit card instead of a business credit card for bad credit. This is because general-consumer cards are not designed specifically for businesses and they usually carry lower interest rates and APR than business cards.
Additionally, rewards programs associated with these types of cards can provide significantly more benefits in terms of points or cashback on purchases that businesses make. Therefore, comparing the interest rate, APR and other benefits offered by different consumer credit cards could help an individual make an informed decision about which card would best suit their financial needs.
Step 4: Understand that business credit cards are very personal
It is important to understand that business credit cards are very personal because they require an excellent personal credit score and may have higher foreign transaction fees than domestic purchases. Additionally, your credit card issuer might only approve you for a business card if you have an existing business account and a direct deposit from that account.
Rewards points and gift cards also vary depending on the type of card and its level of membership, making it important to do your home shopping in advance so that you can make the most of these rewards points and gift cards. Finally, it is important to consider APR terms as well as your own creditworthiness before applying for a business credit card.
Step 5: Look for business credit cards with high rewards and welcome offers
Business credit cards offer a number of benefits to businesses. These benefits include rewards for travel and cash back, welcome bonuses, purchase protection, extended warranties, and travel insurance protections. Furthermore, these cards can provide no-extra-cost employee cards for business owners to better manage their expenses.
Business owners should consider their personal credit score before applying for a business card and review the terms and conditions before signing up. By carefully comparing fees and rewards offered by different credit cards, businesses will be able to identify the best card that meets their needs.
Step 6: Choose a card with a 0% introductory APR
It is important for those managing multiple credit cards to choose a credit card with a 0% introductory APR in order to take advantage of the interest-free financing period and avoid paying high-interest rates. A 0% introductory APR can help protect against costly interest payments and make it easier to manage finances, especially when starting a new business or SAAS company that may not have much capital available.
Choosing an appropriate card, such as the Blue Business Plus Credit Card from American Express which offers 20 months of 0% APR financing on new purchases and balance transfers, can help save money while building up your startup’s financial strength.
Step 7: Find a card with a hefty fixed deposit
It is important to have a fixed deposit when managing finances with multiple credit cards as it helps to protect the business from potential risks associated with financial mismanagement. Without a fixed deposit, startups and businesses can be at risk of being unable to keep up with timely payments, leaving them open to late fees, penalties, and other financial losses.
Open offers an attractive alternative for startups and businesses by allowing applicants to submit their personal PAN and address proof without having to put down any additional deposits.
Step 8: Consider cards with no annual fee
Step 8 of the book’s financial management advice is an important step in helping new businesses secure funds and travel. It suggests getting a business no annual fee credit card to help minimize costs while still providing needed benefits.
This kind of credit card can be beneficial for startups that need access to funds, but who do not want the expense and hassle associated with more expensive cards.
Step 9: Consider cards with flat-rate rewards
Having a credit card with flat-rate rewards can be beneficial for businesses, such as startups, who have to make multiple purchases and need to earn rewards quickly. Flat-rate rewards cards provide users with a consistent rate of return for everyday spending, regardless of the type of purchase.
They are also usually associated with lower fees than cards that offer bonus categories or points programs. Furthermore, many flat-rate credit cards come with additional benefits like no-extra-cost employee cards, purchase protection, extended warranties, and travel insurance protections. This makes them a great option for businesses looking to save money while still earning valuable rewards.
Step 10: Look for cards with 0% APR for fuel and dining
A credit card with 0% APR for fuel and dining can be beneficial to small business owners who frequently travel, as it offers them the opportunity to save on fuel and dining costs.
The zero-interest period allows business owners to use their resources more responsibly, while also providing them with rewards on certain purchases. Additionally, the low ongoing APR will allow small businesses to manage their finances better over time.
Step 11: Consider prepaid business credit cards
Prepaid business credit cards offer a number of advantages to businesses, including the ability to control spending, activate the card upon arrival, and access welcome bonuses.
Additionally, they can also help individuals build their credit history and boost their credit score. Many prepaid business cards also have lower interest rates than other types of cards, as well as exclusive member benefits that may be available through rewards points. It is important for applicants to understand all terms and conditions before applying for a prepaid business card in order to ensure that it will meet their needs.
Step 12: Look for cards with cashback rewards
When searching for a credit card to use for their startup SAAS business, it is important to look at cards with cashback rewards. This is because cards with cashback rewards can provide significant returns on the money spent.
The Ink Business Cash® Credit Card offers an excellent sign-up bonus and no annual fee and runs on Visa which is accepted by millions of merchants. Additionally, there are fraud protections and security benefits associated with this card that offers added protection for businesses.
Step 13: Consider business student rewards cards
Business student rewards cards offer a variety of benefits that are specific to business owners and employees. These cards can be a great option for those looking to manage their finances with multiple credit cards, as they provide features such as discounts at campus stores and top-ups for mobile plans, cash back or points that can be redeemed for more valuable prizes, and an understanding of how rewards will be calculated and whether the costs associated with the card will outweigh any potential rewards.
Step 14: Look for cards that spread out payments
Spreading out credit card payments can help manage finances by making it easier to stay on top of expenses. By breaking down large purchases into smaller amounts, individuals can spread out their payments over several billing cycles. This can help limit the amount of interest charged and allow for more efficient budgeting.
Additionally, some credit cards may offer rewards or incentives for spreading out payments over multiple months, so it is important to research cards that may be beneficial to the individual’s needs.
Step 15: Find the best Airbnb credit cards
The Hilton Honors American Express Business Card is one of the best small business hotel credit cards to consider for Airbnb. It comes with a range of generous rewards and automatic elite status recognition.
To earn a free night on Airbnb, users must spend at least $15,000 annually with the card. Anyone interested in finding the best credit card for Airbnb should familiarize themselves with its features by reading through reviews online.
Step 16: Check out SBA loans for startups
The Small Business Administration (SBA) offers loans to startups to help them manage their finances. Businesses can access loans of between $1,500 and $7,500 with minimal requirements such as accepting SSNs and ITINs.
To apply for a startup business loan, one must be prepared ahead of time by gathering all the necessary information to submit an application. It’s important that the application is carefully reviewed before it is sent in so that an approval decision from the credit card company can be received in a timely manner. Once approved, businesses should activate their credit card so they are able to make purchases right away!
FAQs
What are the best credit cards for businesses?
Businesses have many options to choose from when it comes to choosing the best credit card for their needs. The Chase Ink Business Cash SM is a great choice for new businesses, providing discounts on office supplies and services as well as restaurant and gas station cash back.
The American Express Gold Card is an excellent choice, offering 0% APR for the first 12 months and a $750 bonus cash-back offer. The Ink Business Preferred Credit Card offers rewards, no personal guarantee, and easy access to credit. For those without a personal guarantee, the Brex Card helps build business credit.
For business trips, the Capital One Spark Classic for Business has no annual fee with generous rewards. Those needing to borrow money can benefit from low-interest rates with the American Express Blue Business Plus Credit Card while employees can take advantage of generous rewards and no annual fees with the Ink Business Cash Credit Card.
What are the best credit cards for startups?
Research is key when deciding on the best credit card for a startup. Many cards may have no annual fees, but it is important to look into the value of the card, its requirements, and the features they offer to ensure it is a good fit for the company. It is recommended to do research and compare options before committing to any one card.
What are the best credit cards for small businesses?
Small businesses looking for the best credit card should consider cards that offer lucrative rewards and interest-free options. It is important to research credit cards with high ratings and suitable features.
Additionally, factors such as rewards rates, fees, and APR rates should be taken into account when choosing a credit card for small business use. Other features such as bonus offers, special financing arrangements, and free cards for employees may also be beneficial to small business owners.
What are the best business credit cards for cashback?
The Chase Ink Business Cash SM is a great option for those looking to get started with a business credit card. It offers generous rewards and opportunities to lower your credit cost, with 5% cash back on office supplies, internet, cable, and phone services up to $25,000 each year and 1% on all other purchases.
With no caps or annual fees associated with the card, it’s an ideal choice for small businesses or startups. Chase Ink Unlimited also provides robust rewards and no annual fee; in addition to offering a 0% intro APR for 12 months before setting in at a prime market rate. This simple yet powerful business credit card is well-suited for anyone looking to maximize their cash-back potential without the hassle of complicated terms or conditions.
What are the best business credit cards for travel rewards?
Many businesses find that the Ink Business Preferred® Credit Card is an ideal choice for travel rewards. The card offers a large sign-up bonus and rewards in common business spending categories, as well as 24/7 customer service support to assist with any payment issues.
Furthermore, it allows customers to redeem points either through Chase or by transferring them to various airline and hotel partners. With its generous rewards system, this card is an excellent way for business owners to save on their travel expenses.
What are the best business credit cards with no foreign transaction fees?
For businesses starting out, a business credit card with no foreign transaction fees is ideal. The U.S. Bank Triple Cash Rewards World Elite Mastercard® offers 3% cash back at eligible gas stations and restaurants, as well as zero-interest financing for the first 15 months of card membership.
The Business Platinum from U.S Bank has a 20-month zero-interest period and low ongoing APR with generous rewards for gas, groceries, and other purchases. This option is better for small businesses that don’t need rewards but prefer a longer 0% interest period and lower APR.
