Starting a new business can be both exciting and challenging. With so many decisions to make and tasks to juggle, managing your finances should be as seamless as possible. That's where finding the best credit cards for business startups comes in handy! Not only can these cards provide you with essential capital to cover expenses, but they often come with rewards and benefits that cater specifically to entrepreneurs. In this guide, we'll explore the top credit cards for startups and help you determine which one could be the best fit for your new venture.
Best Credit Cards For Business Startups Table of Contents
Top Credit Cards for Business Startups
1. American Express Blue Business Plus
As a top choice among small business owners, the American Express Blue Business Plus offers an excellent balance between rewards and flexibility. With 2x points on the first $50,000 spent each year and 1x points after, this card is designed for businesses with moderate spending needs. Plus, Amex's flexible payment feature allows you to carry a balance on eligible purchases without incurring interest for up to 60 days, making it a suitable option for startups with fluctuating cash flows.
2. Chase Ink Business Preferred
For startups looking to maximize their rewards, the Chase Ink Business Preferred Card is worth considering. Offering 3x points on the first $150,000 spent in combined purchases on travel, shipping, internet, cable, phone services, and advertising purchases made with social media sites and search engines each year, this card rewards you where your business spends the most. Plus, new cardholders can earn an impressive 100,000 bonus points after spending $15,000 within the first three months.
3. Capital One Spark Cash for Business
For those who love cashback rewards, the Capital One Spark Cash for Business is a solid choice. This card offers unlimited 2% cashback on all purchases, making it a straightforward rewards option for busy entrepreneurs. Additionally, new cardholders can earn a lucrative $500 cash bonus after spending just $4,500 within the first three months of opening the account.
4. Bank of America Business Advantage Cash Rewards
With tiered cashback rewards and no annual fee, the Bank of America Business Advantage Cash Rewards Card is an attractive option for startups. Offering 3% cashback in your choice of one of six categories, 2% cashback on dining, and 1% on all other purchases, this card provides versatility in rewards earning. Furthermore, it features a 0% introductory APR for the first 9 billing cycles, making it a suitable choice for startups looking to finance initial purchases.
5. Brex Corporate Card for Startups
Designed specifically for startups, the Brex Corporate Card is a unique option due to its underwriting process. Brex evaluates businesses based on their cash balance and sales, meaning founders with limited credit history might still qualify. The rewards structure caters to startup needs with 7x points on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions, and 1x on other purchases. Plus, this card doesn't require founders to provide a personal guarantee and offers numerous expense management tools.
Best Credit Cards For Business Startups Example:
Imagine you're starting a tech company that will have high software subscription costs and frequent travel. In this case, the Brex Corporate Card for Startups might be the best fit due to its rewards structure and the fact that your company's cash balance and sales could make you eligible even without a strong credit history. On the other hand, if your startup is focused on manufacturing and shipping products, the Chase Ink Business Preferred Card could provide the most value as it offers 3x points on shipping expenses.
Now that you're equipped with the knowledge of the best credit cards for business startups, it's time to take the next step and apply for the one that fits your needs. Remember, every business is unique, so make sure to carefully evaluate your spending patterns and goals before committing to a card. Don't forget to share this guide with fellow entrepreneurs and explore other informative guides on Flik Eco for more personal finance and investing insights!
