After 19 hours of research evaluating 61 products, we picked Chase Ink Business Cash Credit Card as the Best for Daily Spending with No Annual Fee.
Big businesses and new businesses are not so different. In both cases, the importance of keeping business and personal expenses separate is key, and managing expenses and employees shouldn't add stress to your life.
Business credit cards often come with lower interest rates than the standard personal credit card, or other convenient credit sources such as unsecured loans from online business lenders.
If you're spending a considerable amount of money on your business each month, it's important to consider the role that building credit can play in helping you grow. Just like with your personal credit cards, you can use the best business credit cards to build your business credit. Improving your business credit score means lower interest rates and access to higher credit limits. As is the case with the cards on this list, it also means additional incentives and rewards for money you're already spending.
Here's the deal:
It's important to understand the difference between personal and business credit cards.
Right off the bat, business credit cards tend to have higher credit limits than personal consumer credit cards. Also, businesses often need to get credit cards for their employees, and the best business credit cards allow you to add authorized users with spending limits.
Additionally, the rewards being offered by business credit cards to small business owners are tailored specifically to their needs, with options that tend to include things like discounts on shipping or travel perks.
But here's the kicker:
Business credit cards are not afforded the same consumer protection laws that personal credit cards receive under the Credit CARD Act of 2009. This could be problematic, as a card issuing bank can change the APR or grace period without any notice if they please. In the spirit of providing a good customer experience to their business customers, some major credit card issuers have made the choice to voluntarily extend traditional consumer protections to business credit cardholders.
Make sure to read your cardholder agreement to determine how these terms and conditions might affect you before applying for one of the best business credit cards.
Now:
You're sufficiently prepared to start shopping for the best business credit card for your business. The following options consider a variety of uses and perks—there's sure to be at least one that's a perfect fit for your business!
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