The Best Business Credit Cards

This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

There are some really good choices out there if you're on the market for a business credit card. According to a study from the Federal Reserve, about 59 percent of business owners use a business card. They're used for a variety of reasons including funding the business, building credit in your business's name, and saving money by earning rewards.

Another good reason to use a business card? A business credit card helps you keep your personal and business expenses separate, which is important for legal reasons. Business cards also come with cool features, such as useful management reports, which can help you keep track of expenses by category (or even by employee) and make your life easier at tax time.

The way to pick the best card is to decide what type of rewards or what features you're looking for. Here are LendingTree's picks for the best credit cards in three categories: travel rewards, airline miles, and cash back.

Best Travel Rewards: Ink Plus Business Credit Card

This is the card for the business owner who wants flexibility when it comes to travel, but also wants generous rewards. This Chase card also comes with chip technology, so you'll have an easier time using your card the next time you travel overseas. The chip feature also helps protect you from fraud. And while you're traveling in other countries, you won't have to worry about foreign transaction fees, either. For this card, the fees are waived, which can save you lots of money if you take long trips out of the country.

Sign-up bonus: Spend $5,000 on purchases within the first three months after opening your account and earn 50,000 bonus points, which equals $625 toward travel rewards if you redeem via Chase Ultimate Rewards.

Rewards

Let's get right to the good stuff. The rewards are pretty amazing. But the program is complex so you have to read it carefully so that you understand it and can profit from it.

Here's the breakdown of reward categories and the point values:

--You get 5 points per dollar spent on the first $50,000 in purchases in these categories: office supply stores, Internet and cable TV services, land line, and cellular phone services.

--You get 2 points per dollar spent on the first $50,000 in combined purchases of hotel stays and gas station purchases.

--You earn 1 point per dollar on everything else you purchase with this card.

As long as your account is open, your points never expire. And you can transfer your points to other leading frequent flyer programs at a 1:1 ratio.

Rates and Fees

Here are just a few highlights. Read the disclosure statements carefully so you are aware of all the rates and fees with this card.

APR for purchases and for balance transfers: It's 15.24 percent.

APR for cash advances: It's 24.99 percent and there's also a 5 percent transaction fee. Note that interest starts ticking right away on a cash advance.

Default APR: Up to 29.99 percent.

Annual fee: Waived for the first year; after that, it's $95 per year.

Foreign transaction fees: None.

Best Airline Miles Card: Spark Business Miles Rewards from Capital One

If you're looking for generous rewards that don't require a too much thinking, then this card might be right up your alley. Aside from simplicity, if you do travel overseas, you won't have to worry about foreign transaction fees. Capital One waives these fees on all of their cards.

Sign-up bonus: Spend $4,500 on purchases within the first three months after opening your account and earn 50,000 bonus miles, which is equal to $500 in travel.

Rewards

You get an unlimited 2 miles per dollar spent on every purchase you make, regardless of category. How easy is that? You can get your cash back in the form of a statement credit or a check. You can even set up automatic redemption so you get your rewards at specified times or intervals.

Rates and Fees

Here are just a few highlights. Read the disclosure statements carefully so you are aware of all the rates and fees with this card.

APR for purchases and for balance transfers: It's 13.9 percent, 16.9 percent, or 20.9 percent, based on your creditworthiness. If you have an excellent score, you could end up with a 13.9 percent APR, which is pretty good.

APR for cash advances: It's 24.9 percent and there's also a 3 percent transaction fee. Note that interest starts ticking right away on a cash advance.

Penalty APR: Up to 29.4 percent.

Annual fee: Waived for the first year; after that, it's $59.

Foreign transaction fees: None.

Best Cash Back Card: Ink Cash Business Card

This is the card for the business owner who wants to save money on everyday expenses. The reward categories are also on target for a small business that involves a lot of driving or entertaining clients at restaurants.

Sign-up bonus: Spend $3,000 on purchases within the first three months after opening your account and earn $200 cash back bonus.

Rewards

Like the Ink Plus card, the rewards are excellent, but the program is a bit complex. So read all the disclosure statements carefully so you really know how to profit from this card.

Here's the breakdown of reward categories and the point value:

--You get 5 percent cash back on the first $25,000 in purchases in these categories: office supply stores, Internet and cable TV services, land line, and cellular phone services.

--You get 2 percent cash back on the first $25,000 in combined purchases of restaurants and gas station purchases.

--You earn 1 percent cash back on everything else you purchase with this card.

As long as your account is open, your points never expire.

Rates and Fees

Here are just a few highlights. Read the disclosure statements carefully so you are aware of all the rates and fees with this card.

APR for purchases and for balance transfers: You get a zero percent introductory APR for the first 12 billing cycles. After that, you get a 13.24 percent APR.

APR for cash advances: It's 24.99 percent and there's also a 5 percent transaction fee. Note that interest starts ticking right away on a cash advance.

Default APR: Up to 29.99 percent.

Annual fee: Waived for the first year; after that, it's $95.

Foreign transaction fees: You pay 3 percent for these fees.

Important note about business cards: The Credit CARD Act of 2009 offered new protections for consumer credit cards. For example, consumers are protected from sudden rate hikes and retroactive rate increases on balances (with some exceptions).

But business credit cards are not covered by the CARD Act. Many major issuers have decided to offer some--or even all--of these protections anyway with their business cards and that's commendable. But they are not legally required to do this, so the terms are subject to change. Make sure you read every piece of communication you get from your issuer in case there has been a change to the terms of your card. And if at all possible, don't carry a balance because you might be subject to APR increases with little warning. There are a lot of upsides to business cards, but this is a downside so be aware of this and stay proactive to protect yourself.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

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