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New Business Credit Card Guide
Four great choices. You can't go wrong.
Consolidating your business spending on a single business credit card is always a great idea. Then, you'll have all your expenses in one place when tax time comes. Some banks will even organize all your expenses for you in a handy year-end report. However, before applying for a credit card, you need to know your credit score. Your credit score determines which cards you'll be able to successfully apply for. If you don't know your credit score, you can get a free one here:
If you have at least a 650 credit score and haven't applied for more than four new credit cards in the past twenty-four months, this is our top recommendation for a new business credit card. On top of giving you unlimited 1.5% cashback on every purchase, it also gives you access to the Chase Ultimate Rewards program. In my experience, Ultimate Rewards are the most valuable credit card currency. You can use them for cashback, free flights to anywhere in the world, free hotel stays after you fly to those new places – and more. That's why I have this card and use it every day. The Chase Ink Business Unlimited credit card is the perfect 1st card for most new businesses.
#2. Citi® Double Cash CardSummary: 650+ credit score? With unlimited 2% cashback, this is the best pure cashback card.
While this isn't explicitly branded as a "business card," I know many entrepreneurs who use this exclusively as their business' credit card. If you have a 650+ credit score and want to get as much cashback as possible, this is the card you want. Period. It's accepted everywhere and gives you unlimited 2% cashback on everything. Easy peasy lemon squeezy. That doesn't mean you can't use it for free flights and hotels though -- because you can. Citi also has airline and hotel partners! They aren't as amazing as Chase's partners though. So, do you mostly want cashback? Choose the Citi Double Cash. However, if you want great cashback while still getting access to the best airline and hotel partners for free stuff -- choose the Chase Ink Business Unlimited instead.
The American Express Blue Business Cash card is a fantastic card that I wish I could have higher on my list. It's actually my secondary business card, and I use it frequently. You'll also need a 650+ credit score for this one. This card gives you 2% cashback on every purchase -- but it's not unlimited. They cap it at $50k in spending per year. After that, you earn 1% cashback. However, this card makes up for that by giving you access to the second most valuable set of credit card points – AMEX Membership Rewards. Like Chase points, you can use them for cashback, free flights, free hotel nights, and more. So why isn't this card #1? Three reasons. First, the $50k cap limits my cashback. Second, both cards above are accepted almost everywhere worldwide, while American Express is accepted at fewer locations. Third, I prefer the airline and hotel partners that Chase has. However, having this as a 2nd business card, combined with the Chase Ink above, gives you access to free flights and stays at almost every major airline and hotel chain worldwide.
#4. Capital One® QuicksilverOne Cash Rewards Credit CardSummary: Less than 650 credit score? Get unlimited 1.5% cashback with a small annual fee that you'll make back.
Let me be 100% clear -- this card is ideal for people with lower credit scores. Credit score lower than 650? Skip the top three cards and focus on this one. Like the Chase Ink Business Unlimited, the QuicksliverOne Cash gives you an unlimited 1.5% cashback on every purchase. However, there's an annual fee because it's targeted at people with lower credit scores. It's worth it though. Thanks to cashback, you'll make back that annual fee and more. Also, there's rarely a bonus for signing up for this card. Last of all, the Capital One transfer partners are not as valuable as either of the three banks above. Again though, if you have a credit score that's lower than 650 – this is the card for you.
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You now have four amazing credit cards to choose from. One or more of them, are perfect for your new business. Choose the one that best fits your future lifestyle. If you have any questions, contact us.
Super Value Town (SVT) is a subsidiary of WebTYs. We save entrepreneurs time, and make you more money, by helping you plan, launch, and grow your small business. We accomplish this with all-inclusive, low-cost, done-for-you packages. SVT is honored to have helped more than one thousand small businesses over the past 31 years. Let Super Value Town help you for less -- a lot less. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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