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The Best Credit Cards for Business Expenses

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So you’ve chosen to start a new company. You could be enticed by the prospect of having a business bank account to utilize for business costs. After all, why not? The word “business” is pretty damn obvious.

Nevertheless, there are several reasons that you might wish to use a personal account instead, particularly when starting your business. The CARD Acts of 2009, for example, governs personal loans. Personal major banks are prohibited by law from raising your APR or charging hefty prices for minor crimes.

Whereas most card companies provide these protections as a convenience to corporate credit card members, several just don’t. In the same way, promotional pricing on private credit cards has to be available for the very first 6 weeks. That is not the case with index cards.

Furthermore, the incentives offered by personal checking accounts will be more suitable than those offered by corporate checking accounts. A company name that offers insurance on office equipment, for instance, is unlikely to appealing to your company because it wouldn’t yet require a huge office.

business expenses

For additional research on the internet, see our article on using individual bank cards for company costs. Let’s glance at some of life’s greatest personal loans for business owners.

Contents Table 

The Greatest Cash Back Credit Cards

Most start-up companies would want to use a personal account with a flexible rewards scheme. The cards listed here could help you optimize your income on daily essentials for your fledgling business if it’s gas besides your car, workplace paint, printing paper, or innovative lunches.

Credit Card Annual Fee Rewards
Unlimited Freedom Chase $0 3 percent cashback for the first year (up to $20,000), then 1.5 percent cash back indefinitely after that.
Cash from a US bank plus a signature on a Visa card $0 5% cashback on 2 groups of your choice; 2% store credit on one area of your choice; and 1% money back on certain purchases
Capital One’s Quicksilver $0 Cash Back 1.5% Unlimited
Cash Back When You Find It $0 1% cash back rewards on those other purchases; money rebates on rotating monthly categories

Unlimited Freedom Is The Name Of The Game

The Cashback Rewards Unrestricted card is indeed an excellent alternative for individuals who demand direct debit versatility. There seem to be no bonus sectors with this card because it is a horizontal cash-back Mastercard. You receive money back across all transactions and have a lot of choices in how you can collect your rewards.

There is no additional charge with the Cashback Rewards Unlimited credit, and you can earn 0% Interest for the very first three months. Acquisitions and credit cards are both eligible for the 0% introductory APR. Regrettably, a 3% international transaction fee applies.

You might find yourself wanting a variety of unplanned purchases when establishing a new company. In this regard, the Rewards Card Limitless direct debit is a fantastic option. You’ll get 3% reward points during your first $20,000 in expenditures the first year, which works over to $600 actual money. You’ll use an additional 1.5 percent money back across all expenditures from your first month (or if you spent $20,000 just on credit; whatever comes first).

You didn’t have to bother tracking which category your expenditures fall into because it’ll all be taken care of for you. There seems to be no minimum conversion amount, but you can exchange for rewards points in any quantity you want.

After this, you have further redemption possibilities. You may redeem your benefits in a variety of ways, including statement credits or direct deposits to your bank or debit cards. Scott’s travel site also allows you to book flights, which is useful if your job requires you to travel frequently. If you’re using the Chase Liberty mobile app, you can also get your points after visiting certain Walmart locations.

If you already have additional Chase accounts, you could transfer credits from them to use with their specific redemption choices.

Overall, the Cashback Rewards Unlimited seems to be a card that may be used for a variety of purposes.

Cash From A Us Bank Plus A Signature On A Visa Card

This is yet another hand with a lot of possibilities. Would you like to create your custom bonus subcategories to suit your business? You might want to consider the US Bancorp Cash+ Visa Eco labels.

Although there is no additional charge on us, Bancorp Cash+ Mastercard Marketers agree, the promotional 0% Interest for the first twelve years only applies to amounts deposited within sixty days of establishing the card.

That’s where adaptability comes into play: You’ll earn 5% reward points on the first $2,000 in expenditures in two areas of your choice each quarter. Classification options are likely to modification on a yearly basis, including us Bank, however since May 2019, and those are the alternatives:

  • Transportation on the Ground
  • Shops to Consider
  • Providers of Mobile Phones
  • Stores that sell electronics
  • Automobile Rentals
  • Fitness Centers/Gyms
  • Services for the Home
  • Quick Service Restaurants
  • Stores that sell sporting goods
  • Shops in Department Stores
  • Shops for Furniture
  • Theaters that show films

Additionally, you’ll receive an infinite 2% money back with one “daily” sector of your choice:

  • Stations that sell gasoline
  • Supermarkets
  • Restaurants

Finally, 1% cashback is given on all other eligible net purchases.

Regrettably, you’ll have to remember to log in every quarter to select new bonus categories. The cash awards also expire after three years, you can’t transfer the money to other reward schemes, and there’s a 3% foreign transaction fee. The credit score criteria are also quite high. On the plus side, there are no restrictions on the overall amount of cashback you can earn or the amount you can redeem.

 POS machine

Capital One’s Quicksilver

Capital One’s Quicksilver credit card is a fantastic choice for young business owners with spending that doesn’t fall neatly into authorized categories.

 The card is similar to Chase’s Freedom Unlimited card. There’s no annual fee, and you’ll enjoy a 0% intro APR on purchases and balance transfers for 15 months.

This card is for folks who don’t want to keep track of rotating categories of reward-eligible transactions. With the Capital One Quicksilver card, you may receive an unlimited 1.5 percent cash back on all transactions, with no limits on how much you can earn and no minimum redemption requirements.

Quicksilver from Capital One has no international transaction charge, which is an advantage over Chase Freedom Unlimited. On the negative side, the card charges a 3% balance transfer fee.

Cash Back When You Find It

Let’s imagine you’re a business owner that buys a lot of things from Amazon or wholesale clubs. You should think about getting the Discover it Cash Back card.

On your first $1,500 spend per quarter, you can get 5% cashback on rotating bonus areas with this card. The following are the current bonus categories offered by Discover:

  • CVS, grocery stores, and Walgreens are open from January until March.
  • Gas stations, select streaming services, and wholesale clubs from April to June
  • SEPTEMBER – JULY: PayPal and Restaurants
  • Amazon.com, Target, and Walmart.com are all open from October to December.

With Discover matching all of your rewards for the first year, you should have a nice stash of cashback. You can reinvest that money in the following ways:

  • At the Amazon.com checkout, you can use your points to pay.
  • Each gift card should have at least $5 added to it.
  • Apply to your Discover credit card bill or deposit to your bank account
  • Donate to a worthy cause

The Discover it Cash Back card isn’t great for regular flyers (though there is no international transaction fee), but it’s great for the land-locked entrepreneur who doesn’t mind keeping track of the shifting categories. Furthermore, the Discover it Cash Back card includes a 14-month introductory 0% APR on purchases and balance transfers.

The Best Travel Rewards Credit Cards

Although not all entrepreneurs require business travel, for those who do, a travel rewards program can be a lifesaver. As your company grows, the following personal credit cards will help you maximize your current travel spending while also earning important points toward future hotel stays, flights, and car rentals.

Credit Card Annual Fee Rewards
Express American Gold Card $250   4 points for every dollar invested at shops and supermarkets in the United States; 3 credits on tickets booked straight with planes via Amex; & two points on all other transactions
Capital Venture  $95  All purchases earn 2 miles for every dollar spent.
Preferred Chase Sapphire $95 For every dollar spent on travel and restaurants, you’ll get two points; for everything else, you’ll get one point.
Executive Top Rank Mastercard from Citi/AAdvantage $450 2 miles for every penny invested on eligible purchases

Gold Card from American Express

The new, updated American Express Gold Card is a terrific card for the entrepreneur that travels a lot.

It’s important to remember that this is a charge card, not a credit card. To put it another way, you’ll be required to pay the entire debt each month. (If you’re approved for Amex’s Pay Over Time program, you may be able to pay certain costs over $100 with monthly payments).

business expenses

If your startup requires you to travel frequently, you’re in luck: the benefits on this card are designed for regular travelers and will easily offset the $250 annual cost. For starters, there’s a great signup bonus: if you spend $2,000 in the first three months after signing up, you’ll get 35,000 rewards points (terms apply).

The Amex Gold Card has been updated to offer an unlimited 4 points per dollar spent on all restaurant transactions and 4X points on up to $25,000 in grocery purchases each year. When you book flights, you’ll be compensated as well. When you book a flight directly with the airline or at amextravel.com, you gain 3 reward points for every dollar spent. All other purchases will earn you one point for every dollar spent.

A $120 eating credit for GrubHub and certain restaurant chains, as well as an annual $100 airline fee credit to spend toward checked bag fees and other incidentals with a qualifying airline of your choice, are among the other new benefits.

Another consideration for the frequent traveler is that the Amex Gold Card has no international transaction fee. Of course, American Express is less widely recognized abroad than Visa and Mastercard, so you’ll want to travel with a backup card.

Capital One makes a bet

Another Capital One card, this time a multipurpose travel card for the on-the-go entrepreneur.

The Capital One Venture card is meant to reward frequent travelers right away. After spending $3,000 on purchases in the first three months, you’ll get 50,000 bonus miles, which is the equivalent of $500 in travel. After that, you’ll earn 2x miles per dollar on all transactions indefinitely. This means that if you charge $500 on your card in a month, you will receive 1,000 miles in that month. Not bad at all!

Here’s a truly eye-popping new Venture card benefit: Until January 2020, earn 10 miles per dollar on all hotel reservations made at hotels.com/venture.

Because you can transfer your rewards miles to one of Capital One’s 10+ active airline partners, the Venture allows you a lot of choice in how you use your travel rewards. You can also obtain a $100 credit on your Global Entry or TSA PreCheck application fee.

Unfortunately, if you wish to use your miles for cashback or non-travel purchases, they will only be worth half as much as if you used them for travel. Thankfully, there are no overseas transaction fees with this card. There are also no blackout dates, expiration dates, or limits on the number of miles you can earn.

The annual cost for the card is $95, which is waived for the first year.

Sapphire Preferred Card by Chase

The Chase Sapphire Preferred Card is a travel-oriented card that may be even more flexible than the Venture.

The Chase Sapphire Preferred card has a generous welcome bonus. After spending $4,000 on purchases in the first three months, you’ll receive 60,000 bonus points.

Not only do you get two points per dollar spent on travel and restaurant dining and one point per dollar spent on all other purchases with this card, but you can also transfer your points to the following airline and hotel reward programs on a 1:1 basis:

  • Airlines
  • Aer Lingus AerClub is a service provided by Aer Lingus.
  • Executive Club of British Airways
  • Air France KLM 
  • Plus Iberia
  • TrueBlue JetBlue
  • Singapore Airlines is a Singapore-based airline.
  • Rapid Reward is a program offered by Southwest Airlines.
  • United MileagePlus is a loyalty program offered by United Airlines.
  • Virgin Atlantic Flying Club is a membership program offered by Virgin Atlantic.
  • Hotels
  • IHG Loyalty Program
  • Marriott Bonvoy is a loyalty program offered by Marriott.
  • Hyatt’s World

Furthermore, if you redeem your points for travel booked through Chase Ultimate Rewards, they will be worth $0.0125 per point (rather than the regular $0.01). There is also no international transaction fee. However, you will have to pay a $95 annual fee.

business expenses

The Citi Double Cash Card

Among credit cards, it is a reliable worker. It’s great for customers who want to earn low-cost cash rewards on everything they charge, thanks to its superior flat-rate cashback. Many cash-back cards have bonus categories, some of which are permanent and some of which change monthly, allowing you to earn rewards in specific spending categories. 

Some companies set a limit on the amount of spending that is eligible for bonus rewards, and any expenditure that exceeds that level earns a meager 1% cashback. All of this can be difficult to keep track of while keeping track of spending. The Citi® Double Cash Card allows you to use the same card without having to worry about where you’re using it or whether you’ve hit a spending category restriction.

Pros

  • High remuneration rate
  • There is no annual charge.
  • Balance Transfers have an introductory APR period.

Cons

  • There is no sign-up incentive.
  • For purchases, there is no 0% APR.
  • In a year’s time, your Cash Reward amount will be deleted if you haven’t earned anything.
  • The minimum redemption amount is $25.
  • A 3% foreign transaction fee is charged. Fee for balance transfers equal to the highest of 3% or $5.

For individuals who adopt a two-card strategy to maximize cashback, the Citi® Double Cash Card – 18 months BT offer holds up well on its alone, but it also makes a great companion to a bonus-category credit card. You’d be hard-pressed to find a better card for getting maximum benefits with the least amount of effort (or money).

Executives World Elite MasterCard From Citi/Advantage

The Citi/AAdvantage Executive World Elite Mastercard isn’t for everyone, as you might guess from the name, but it’s perfect for the well-heeled flight-hopping entrepreneur with something to prove.

The Citi/AAdvantage Executive World Elite Mastercard offers a slew of benefits to the entrepreneur with the wherewithal to travel in style. This card offers a lot of value, from the 50,000 AAdvantage bonus miles if you spend $5,000 in the first three months to the automatic Admirals Club membership (a $550/year value that includes lounge access!) to the AAdvantage miles you’ll earn. However, such value isn’t cheap — the annual price is a whopping $450. However, if you absolutely want to join the Admirals Club, this is a cost-effective way to do it.

You must be a regular American Airlines passenger with a strong desire to visit the AA Admirals Club lounges in order for this card to be worthwhile. If you spend a significant portion of your life in airports and wish to be free of the horde, this card allows you to do so. You’ll also get a 25% discount on in-flight purchases (Offer expired. ), a $100 TSA PreCheck credit every five years, priority boarding, and a 0% foreign transaction fee.

Last Thoughts

Entrepreneurs deserve a credit card that is tailored to their specific requirements. For many people, a personal credit card will suffice, and it will provide them with more legal protection than a business card.

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