Small businesses require a constant inflow of cash to keep their operations running smoothly. As such, using credit cards with cashback rewards is a smart move as it provides a way for business owners to earn money back on the purchases they make. With so many options available, it can be daunting to choose the best card suited for a specific business’s needs. We have curated a list of the top five small business credit cards with cashback rewards to make the process less daunting.
1. American Express Blue Business Cash Card
The American Express Blue Business Cash Card offers 2% cashback on all purchases made up to $50,000 each year, after which the cashback is 1%. There are no annual fees attached to the card, and it offers a 0% introductory annual percentage rate (APR) on purchases and balance transfers for the first 12 months. This card is best suited for businesses that require moderate spending.
2. Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card offers three points per dollar spent on the first $150,000 spent on travel and select business categories each year. Additionally, it offers a 25% bonus when redeeming points for travel through the Chase Ultimate Rewards program. The card also provides cell phone protection of up to $600 per claim, with a $100 deductible. It has a $95 annual fee and is ideal for businesses that require extensive travel.
3. Capital One Spark Cash for Business
The Capital One Spark Cash for Business provides unlimited 2% cashback on all purchases. It also offers a $500 cash bonus when purchases worth $4,500 or more are made within the first three months of ownership. This card has an annual fee of $95, waived in the first year. It is best suited for businesses with high spending needs.
4. Bank of America Business Advantage Cash Rewards Mastercard
The Bank of America Business Advantage Cash Rewards Mastercard offers 3% cashback in a category of the cardholder’s choice, including gas stations, office supply stores, travel, TV/telecom & wireless, computer services/ software/ hardware. Additionally, the card offers 2% on dining purchases and 1% on all other purchases, with a $250,000 account cap on cashback rewards each year. There is no annual fee attached to the card. This card is a good choice for businesses that require flexibility in choosing their cashback rewards category.
5. Citi Double Cash Card for Business
The Citi Double Cash Card for Business offers 2% cashback on all purchases, with no annual fee attached to the card. Additionally, it offers a 0% introductory APR on balance transfers for the first 18 months. This card is best suited for businesses that require a straightforward rewards program.
In conclusion, choosing a small business credit card with cashback rewards can offer significant financial benefits. However, it is crucial to select a card that aligns with the specific business’s needs. The American Express Blue Business Cash Card, Chase Ink Business Preferred Credit Card, Capital One Spark Cash for Business, Bank of America Business Advantage Cash Rewards Mastercard and Citi Double Cash Card for business are some of the top options to consider when looking for a credit card that offers cashback rewards with unique features for small businesses.
