As a small business owner, you know the importance of having a rock-solid financial foundation. One of the crucial tools in your financial toolbox is the right credit card. With so many options out there, how can you determine the best credit card for your small business in 2023? Look no further! We, at Flik Eco, have done the research and compiled a list of top credit card picks to help boost your business cash flow and maximize rewards.
Best Credit Cards For Small Businesses 2023 Table of Contents
1. American Express® Blue Business Plus
2. Chase Ink Business Cash℠ Card
1. American Express® Blue Business Plus
Why We Love It:
- High rewards rate
- No annual fee
- Generous introductory APR offer
How It Works:
Earn 2X Membership Rewards® points on everyday business purchases up to $50,000, with no category restrictions. After that, earn 1X point for every dollar spent. Plus, take advantage of an introductory 0% APR on purchases for the first 12 months, allowing you to invest wisely in your business without paying interest.
2. Chase Ink Business Cash℠ Card
Why We Love It:
- Huge sign-up bonus
- Impressive cashback rewards in popular business categories
- No annual fee
How It Works:
Earn 5% cashback on the first $25,000 spent annually at office supply stores and on internet, cable, and phone services. Plus, earn 2% cashback on the first $25,000 spent annually at gas stations and restaurants and 1% cashback on all other purchases. Enjoy a whooping sign-up bonus of $750 when you spend $7,500 within the first three months of account opening.
3. Capital One® Spark® Cash for Business
Why We Love It:
- High flat-rate cashback rewards
- Attractive sign-up bonus
- Free additional employee cards
How It Works:
Earn a flat 2% cashback on every purchase, with no caps or category restrictions. Receive a $500 cash bonus when you spend $4,500 within the first three months of opening your account. Share the benefits with your team by getting additional employee cards at no extra cost.
4. Bank of America Business Advantage Cash Rewards
Why We Love It:
- Flexible cashback rewards
- No annual fee
- Redemption bonuses for Bank of America customers
How It Works:
Earn 3% cashback in the category of your choice including gas stations, office supply stores, travel, TV/telecom services, and more (up to $50,000 in combined choice category/dining purchases annually), 2% cashback on dining, and 1% on all other purchases. Plus, if you're a Bank of America Preferred Rewards for Business member, you can earn up to a 75% rewards bonus on every purchase.
Best Credit Cards For Small Businesses 2023 Example:
Suppose your small business has a budget of $25,000 annually for office supplies, internet, and phone services. If you choose to use the Chase Ink Business Cash℠ Card, you'll earn 5% cashback, amounting to an impressive $1,250 back in your pocket! Additionally, you'll enjoy a generous sign-up bonus of $750, totaling $2,000 in your first year alone.
Now that you're equipped with knowledge about the best credit cards for small businesses in 2023, it's time to make a decision that best suits your needs and financial goals. Every business is unique, so ensure you pick a card that complements your spending habits and helps you grow. Feel free to share this article with fellow business owners, and don't forget to explore other valuable guides on Flik Eco to stay ahead in the personal finance and investing game.
