Navigating the world of credit cards for nonprofits can be a daunting task. With so many options available, how can you be sure to choose the right card that fits your organization's needs? In this guide, we'll break down the best credit cards for nonprofits, discussing their benefits, fees, rewards, and more. Join us as we explore the top choices to help your organization thrive and maximize its financial potential.
Best Credit Cards For Nonprofits Table of Contents
1. The American Express Blue Business Plus
1. The American Express Blue Business Plus
Key Benefits:
- No annual fee
- Earn 2x Membership Rewards points for the first $50,000 in purchases each year, and 1x points thereafter
- 0% introductory APR on purchases for the first 12 months
- Flexibility to carry a balance or pay in full each month
- Expandable buying power
Why It's Great for Nonprofits:
This card is perfect for nonprofits looking for a solid rewards program without the burden of an annual fee. The 2x rewards rate on the first $50,000 in purchases can help your organization maximize its spending power. Plus, the 0% introductory APR allows you to invest in new projects without worrying about immediate interest charges.
2. Capital One Spark Cash for Business
Key Benefits:
- $95 annual fee waived for the first year
- 2% cash back on all purchases
- One-time $500 cash bonus after spending $4,500 in the first 3 months
- Free employee cards
Why It's Great for Nonprofits:
The Capital One Spark Cash for Business offers a straightforward and unlimited cashback rewards program. This card provides value by allowing your nonprofit to earn 2% cash back on all purchases and provides the flexibility to use those rewards as you see fit.
3. Chase Ink Business Unlimited
Key Benefits:
- No annual fee
- Unlimited 1.5% cash back on all purchases
- 0% introductory APR for 12 months on purchases
- $500 bonus cash back after spending $3,000 in the first three months
- Employee cards available at no additional cost
Why It's Great for Nonprofits:
The Chase Ink Business Unlimited card offers a simple cashback rewards program with no categories to track. Nonprofits can benefit from the 0% introductory APR period to invest in projects or cover expenses without incurring interest charges for the first 12 months.
Best Credit Cards For Nonprofits Example:
Let's take a hypothetical nonprofit organization, Earth's Allies, and see how they would use the American Express Blue Business Plus credit card. Earth's Allies has an annual spending of around $45,000, primarily on office supplies, event expenses, and transportation.
Using the 2x rewards rate on the first $50,000 in purchases, Earth's Allies would earn a total of 90,000 Membership Rewards points in one year. They could then use these points to redeem travel rewards, gift cards, or even cover some of their organizational expenses. Additionally, their utilization of the 0% introductory APR period would enable them to invest in new programs or cover any unexpected expenses without facing added interest charges.
Now that you have a clearer understanding of the best credit cards for nonprofits, you can confidently select the one that best aligns with your organization's financial goals. Be sure to assess each card's benefits and fees to ensure the one you choose maximizes your nonprofit's financial potential. If you found this guide helpful, don't forget to share it with your colleagues, and explore the many other valuable resources available on Flik Eco.
