Today, I want to get in my favorite business credit cards that are specifically aimed at revolving credit.
We’ll also look at business charge cards and cards that don’t require a credit check.
Let’s get into it.
My Favorite Business Credit Cards for Revolving Credit
Revolving business credit cards are cards that you pay off monthly.
Think of these like your average personal credit cards, where you pay off the balance every month.
The first is, of course, offered by Chase and is the Chase Ink Preferred.
This is great for travel or if you do a lot of ad spend for your business.
Some of the features of this card include:
3x points per dollar spent for dining, shipping, internet/phone services
Great when paired with the Chase Sapphire card
A quick note, you can have flexible limits when using Chase cards.
For instance, with the above, you can transfer limits between the two cards.
The next card is the US Bank Business Leverage card, a very good card that handles a lot of things.
One of the major features is the ability to get 2x for the top two categories you spend on; so things like ecommerce, online purchases, advertising, etc.
Jack Mccoll’s Favorite Business Credit Charge Cards
Charge cards don’t have a set limit the way credit cards do.
Instead, they have spending power which can increase or decrease depending on your spending.
Basically, if you’re spending a lot and paying down the balance, your spending power increases and if you stop spending, then that power decreases.
If you want to see what your spending power is, you can use the AMEX business portal to test what that spending power would be.
While we’re talking about American Express, let’s look at their top business credit charge cards:
AMEX Business Gold
Best for business advertising
4x points per dollar spent for advertising
1x points on everything else
High sign up bonus
AMEX Business Platinum
Amazing travel card (priority pass, access to Centurion lounge, a lot of travel rewards, etc)
1.5x on everything if $5,000+ is spent in a spending period (great for ecommerce stores)
AMEX Business Plum
If you pay off before the closing statement date, you get 1.5 cash back
Ability to pay 30 days late as a buffer
Jack Mccoll’s Favorite No Credit Check Business Credit Cards
The last type of business credit card type I want to discuss are those that do not require a credit check or don’t run a hard pull on credit when applying.
The first card is from Fintech Bank called the Divvy card. When applying, they only look at your banking activity and will give you a limit based on that activity.
They also have an amazing online portal where you can create separate virtual cards and then set a specified limit for each.
The downside to using this card is there aren’t any rewards attached to it, however depending on your bank statement, you can get a really high limit and separate that into different spending aspects for your business.
The next card is also from Fintech Bank called the Capital On Tap. This card does a soft pull from Experian, so as long as your score is great there, they’ll give you credit.
Rewards for this card are between 1% and 2% cash back based on the annual fee that you pay.
This is a great card if you own an ecommerce store.
The last card we’ll look at is the KeyBank Business Rewards Card. KeyBank is a regional bank, so this card may only apply if you are in an area with a KeyBank location.
Approval rates are done as soft pulls, with 0% interest for 6 months. Definitely, you should open a business account before applying.
KeyBank, along with Chase and AMEX, is a relationship-based provider, meaning you’ll get better approvals and cards the more of a relationship you have with them.
And there you have it, the best business credit cards you should be applying for.
These cards are great for getting rewards, points, or even to just build up your business credit.
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