Best business credit cards

For business owners, having a business credit card can make a big difference for their small business. Here are the best business credit cards for 2018.

For new startups, it can be almost impossible to score a small business loan because the risk is too high for lenders. Small business credit cards can provide the capital you need to get off the ground.

Whether you need one to keep an open line of credit or you want to take advantage of credit card rewards and other perks that the best business credit cards offer, it’s important that you choose the card that best fits your business’ needs.

Before we dig in, however, let’s discuss a few important aspects of business credit cards.

How business credit cards differ from personal credit cards

Business and personal credit cards function the same in almost every way, except for a couple of key differences. “Business credit cards aren’t subject to most of the protections offered by the CARD Act of 2009,” says credit card expert Jason Steele.

He adds, “However, most card issuers have chosen to voluntarily offer the same terms as consumer cards.” Be sure to check the fine print before you apply to ensure you’re protected.

Steele also notes that business credit cards are more likely to offer rewards and benefits that would appeal to a business user. For example, you may get bonus rewards for office supplies and advertising expenses or easy connection with Quickbooks.

Check out the best small business credit cards in 2017 

Can you get a business credit card with bad credit?

Your personal credit score can either help or hurt you when applying for a business credit card. “Small business credit card applicants rely on their personal credit score to be approved, just like a personal card,” says Steele.

“Only corporate cards require a business credit report,” adds Steele. As a result, you’ll typically have a hard time getting approved for a small business credit card if you have bad credit. So, work on improving your credit before you apply.

For those who have fair credit or better, your chances of getting approved are better.

Discover 10 tax tips that small business owners can’t afford to ignore 

The 5 best business credit cards for your small business

If you’re looking for a business credit card to help you build your business, here are the top five options to consider:

1) Capital One Spark Cash for Business

If it’s a huge sign-up bonus you’re looking for, the Capital One Spark Cash has it. What’s more, you’ll earn 2% cash back on every purchase you make, making it easier to rack up the rewards. Unlike a travel rewards credit card, this card’s cash back rewards offer flexibility to use them however you wish.

The card charges no foreign transaction fees but does charge an annual fee, which Capital One waives the first year. Also, you’ll pay a pretty high interest rate if you choose to carry a balance, so avoid doing that if you can.

Learn more about the Capital One Spark Cash for Business Card here.

2) Blue Business Plus Card from American Express

If you want a 2% rewards rate but don’t want to deal with an annual fee, the Blue Business Plus Card should be right up your alley. The only caveat is that this only applies to the first $50,000 you spend each year. If your business spends a lot more than that, you’ll only get one Membership Rewards point per dollar spent after the $50,000 cap.

Another reason to get this card is its 0% APR promotion. If you need to make a large inventory purchase or get some much-needed equipment, you’ll have more than a year to pay it back interest-free. Also, if you have another credit card with a balance, you can transfer it to the Blue Business Plus Card and pay it off interest-free in the same period.

Lastly, American Express understands that business owners sometimes need more than their credit limit offers. With this card, you can spend above your credit limit if you need to. How much you can spend above your limit, however, depends on your payment history, credit history, financial resources, and other factors.

Check out and apply for the Blue Business Plus Card here.

3) The Business Platinum Card from American Express

If its premium perks you’re after, look no further than the Business Platinum Card from American Express. While it comes with a steep annual fee that isn’t waived the first year, the card offers a slew of travel benefits that will have you traveling in ultimate comfort.

Here are some examples:

  • Get a big sign-up bonus worth almost double the card’s annual fee.
  • Earn 5X rewards on airline and hotel arrangements booked through Amex Travel (just 1X rewards on everything else).
  • Receive a $200 airline fee credit every year to cover things like checked bags and in-flight meals and drinks.
  • Get free access to more than 1,000 airport lounges worldwide, including Amex’s Centurion lounge collection.
  • Receive a statement credit once every four years when you apply for Global Entry or TSA PreCheck.
  • Get elite status at hotels and car-rental companies.

Because of the cards elite perks, you can get much more value than you pay in the annual fee if you do it right.

Get more details about the Business Platinum Card and apply here.

4) Chase Ink Business Cash Card

If you have a conventional business and want to find ways to maximize your rewards, check out the Chase Ink Business Cash Card.

You’ll get a decent sign-up bonus and:

  • 5% cash back on up to $25,000 spent each year at office supply stores and on internet, cable, and phone services.
  • 2% cash back on up to $25,000 spent each year at gas stations and restaurants.
  • 1% cash back on everything else.

The card also offers a 0% APR promotion, which gives you a year to pay back a big purchase or a balance transfer with no interest. Depending on your needs, this could save you more in interest than you’d get in rewards.

Last but not least, the Chase Ink Business Cash Card has no annual fee, making it easy to get maximum value.

Learn more about the Chase Ink Business Cash Card and apply here. 

5) Capital One Spark Classic for Business

So far, all of the cards we’ve listed require good or excellent credit get approved. If you have fair credit, however, your best option is the Capital One Spark Classic for Business. This is one of the few cards available for people with less-than-stellar credit.

The card’s rewards are fairly simple, offering 1% cash back on every purchase. But it doesn’t charge an annual fee, which is a key feature you won’t always get with a fair-credit credit card. There are also no foreign transaction fees with this card, so you can take it overseas if you need to.

Discover more details about the Capital One Spark Classic for Business here.

Which of the best business credit cards should you choose?

“The credit card industry is extremely competitive, and card issuers are constantly offering new products with even better reward and benefits,” says Steele.

“Any must-haves will relate to how you are using the card. For example, those who will carry a balance will want the lowest possible interest rate, while travelers will want benefits like free checked bags, or even airport business lounge access.”

So, to find out which business credit card is best for you, take a look at your business expenses and your feature preferences. Also, consider annual fees. If you’re not spending enough to make up for an annual fee, it might not be worth it.

And if your credit isn’t quite good enough to get the card you want, start working on improving it. You could qualify sooner than you think.  

Compare business credit card features side-by-side and read detailed reviews to find the best one.

Build your Business Credit

How to Build your Business Credit

When running a business, it can be difficult to secure the funding you need using just your personal credit. The needs of a business are often far more expansive than those of a single person. For example, you may need cash for research and development, capital expenditures, expansion, staffing or just plain survival.

Furthermore, when your personal and business finances are intertwined, it puts all of your assets at risk. The best route is to establish good business credit that will enable you to access funds at affordable rates when you need them.

How to establish business credit

The first step in building your business credit, according to Experian, is incorporating your business by forming a Limited Liability Company (LLC). This is a hybrid type of legal structure that ensures your business is seen as an independent business entity.

Next, you will need to get a federal Employer Identification Number (EIN), which you can apply for online. Then, open up a bank account and a phone number in the legal name of the business. Make sure that the phone number is listed so that it can be found in 411 directory assistance.

Once you’ve completed these steps, contact Experian, TransUnion, Dunn and Bradstreet and Equifax to open credit files for your business.

Tips on building business credit

With fresh credit files open, it’s time to start building positive records. Here are a few ways you can do so.

Get a business credit card

One of the easiest ways to start building business credit is to get a credit card in the name of your business. Shop around for a card that reports to the business credit bureaus and offers good perks. Here are a few cards we recommend.

Spark Classic from Capital One

This card from Capital One is for business owners with at least average credit. When applying, it will request your business and personal information. It does report to the business credit bureaus and may also report to consumer credit bureaus. Paying your bills on time and staying under your credit limit will help you build good credit. Perks include unlimited 1% cash back on all purchases, no annual fee and other business benefits.

Chase Ink Business Cash Card

The Chase Ink Business Cash Back card can also help you build your business credit, as they report to the business credit bureaus in addition to the personal credit bureaus. Benefits include no annual fee, $300 bonus cash back when you spend over $3,000 on purchases in the first three months, up to 5% cash back on purchases (up to $25,000 per year) and other travel benefits.

Enhanced Business Platinum Card

This is a charge card from American Express® which is designed for frequent international travelers and big spenders who want to build their business credit. While carrying an annual fee of $450, it does offer some great benefits.

The card has a membership reward point program through which you earn one point for every dollar spent on eligible purchases, one and a half points per dollar spent on qualifying purchases over $5,000 and five times the points for every dollar spent booking on the American Express® Travel website. It also offers a 50% airline bonus, $200 credit per year for baggage fees, access to over 1,000 airport lounges around the world, concierge services, no foreign transaction fees and more.

Review and compare more business credit cards and be sure to check the fine print to ensure they report on business credit.

Establish credit with suppliers or vendors

If you work with suppliers or vendors and make purchases on credit, you can ask the third-party to report the trade line to the national credit bureaus. According to the U.S. Small Business Administration, you can often get products like computers, office supplies and marketing materials from major brands and can delay payment from 30 to 60 days. If your suppliers or vendors report to the bureaus for you, those relationships can help you to build your credit as long as you make timely payments.

Take out a business loan

A business loan is another viable option for building up your business credit. While it can be challenging to get approved with traditional banks, online lenders are much more lenient and convenient. Even if the loan is small, it can help you build a positive credit line for your business. However, when choosing a lender, be sure to look for one that reports to business credit bureaus.

OnDeck is one such company. It is a provider of online business loans that has delivered over six billion dollars to small businesses around the globe. It offers term loans up to $500,000 and lines of credit of up to $100,000. Applying online is easy and the whole loan processing can be completed in as little as one business day. They will send monthly updates to both Experian and Equifax.

Review and compare more business loan companies. 

Pay your bills on time

You don’t want to go through all of this trouble establishing your business credit only to have negative marks on your report. It will be important to all of the credit bureaus that you pay your bills on time, or, preferably, early.

Aside from that, the bureaus will vary in what they consider important, but it’s good practice to try and avoid any negative public records, such as a lien or bankruptcy. Also, be mindful of your credit utilization ratio, as you don’t want all of the credit you have to be used. Experian recommends keeping the amount of credit utilized at a maximum of 30% of the total credit available to show.

Start building your business credit

Now you know the basics of building business credit. Follow these steps and you can secure the future of your company. Not only will it provide financial security, but it will also separate your business and personal finances. This simplifies tax season and ensures a personal financial mistake won’t impact the business, or vice versa. Start building your business credit early, and you will have a strong foundation from which your business can move forward.

Getting a credit card for business that includes travel rewards is about balancing the perks with your needs, especially if you travel often. Because business trips come with more expenses compared to personal travel, it helps to have a card that makes your frequent trips a little more seamless.

Often, the more you use a travel rewards card, the more you save. But not all cards are made equal.

The US Bank FlexPerks Business Edge and Capital One Spark Miles are both good options for the business traveler. But no card is perfect for everyone, so looking at their offerings can help you choose a card that’s suited to your unique needs.

What the cards have in common

Many business cards have the same perks and rewards, so it can be hard to tell them apart. Here’s what US Bank FlexPerks Business Edge and Capital One Spark Miles have in common:

  • Require excellent credit.
  • Offer zero fraud liability.
  • Have a sign-up bonus.
  • Offer $0 annual fee for the first year.
  • Allow you to save money on business purchases with Visa SavingsEdge.
  • Have no foreign transaction fees.

US Bank FlexPerks Business Edge

Here’s are the details on the US Bank FlexPerks Business Edge’s pros and cons.

Pros
  • You get one point for every $1 of eligible net purchases
  • You get double points for every $1 spent on gas, office supplies or airline purchases. You get double points for most cellphone expenses
  • You get triple points for qualifying charitable donations
  • You can get reimbursed up to $25 per ticket to use toward baggage fees or in-flight food and drinks
Cons
  • $55 a year membership fee
  • Have to pay $10 fee for every extra employee card
  • Miles do expire

Here’s a detailed list of the Capital One Spark Miles’ pros and cons.

Pros
  • You get unlimited two times miles for every business purchase. There are no blackouts or seat restrictions and no minimum to redeem
  • You’re covered for collision or theft  damage when you rent an eligible car with your card
  • No fees for additional employee cards
  • Miles never expire
Cons
  • $59 a year membership fee

Your business is small and you want a travel rewards card that also has comprehensive coverage of day-to-day expenses. The US Bank FlexPerks Business Edge Cards gives you the option of redeeming points and miles for everyday office purchases while covering lost luggage reimbursement and travel accident insurance. So you reap its rewards when you’re traveling and when you’re not.The US Bank FlexPerks Business Edge Card is a good option if…

The Capital One Spark Miles Card is a good option if…

You travel often and want to get the most value out of every trip. Because it gives you peace of mind when it comes to car insurance rentals and its miles never expire, the Capital One Spark Miles card has you covered when it comes to every aspect of the business travel experience. Plus, if your company has multiple employees, you won’t have to pay more for extra cards. Those small savings add up, especially for a growing company.

Sign-up bonus showdown

Sometimes it all comes down to the sign-up bonus.

The US Bank FlexPerks Business Edge gives you 20,000 bonus FlexPoints if you spend $2,000 in eligible net purchases in first four months.

If you spend $4,500 on purchases within the first three months, the Capital One Spark Miles gives you a one-time bonus of 50,000 miles, which equates to $500 in travel.

So what’s more important to you when it comes to the sign-up bonus: points or miles? If it’s points, then you should consider with the US Bank FlexPerks Business Edge. But if it’s miles, then consider the Capital One Spark Miles.

chase ink cash capital one spark

Starting and running a business is a challenging task and typically requires a great deal of capital. Getting a credit card solely for your new business is a bit of a no brainer, but which one will work best for you?

Both the Chase Ink Card and the Capital One Spark Card are solid business credit cards and both offer cash-back rewards and various bonuses. While similar in some ways, there are a few key differences to consider when selecting the card that’s right for you and your business.

The types of items you need to purchase for your business should weigh heavily when finding the right card, as should the annual percentage rate (APR), special bonuses and fees.

Let’s take a look at the details for each of these cards and consider the pros and cons.

Chase Ink Card

This card has no annual fee and good cash-back rewards, though if you don’t spend a lot on certain categories, it may not make as much sense for your business. But if your business spends the bulk of its money on office supplies or cable/telecom, then it can be a very lucrative card to have.

Pros:

  • No annual fee
  • $300 cash back bonus if you spend $3,000 on purchases during the first three months.
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants
  • Earn 1% cash back on all other purchases
  • Cash-back rewards do not expire as long as your account is open
  • Get employee cards at no additional cost
  • 0% introductory APR on all purchases and transfers for 12 months
  • After introductory period, the interest rate may be as low as 13.74% depending on your creditworthiness

Cons

  • 25.49% APR for cash advances
  • APR is raised to 29.99% if you are late with a payment or a payment is returned
  • This penalty APR applies to your account indefinitely after it is assigned
  • Balance transfer fee and cash adva
  • nce fee of either $5 or 5% of the amount of each transfer, whichever is greater.
  • Balance transfers cannot exceed your credit limit or $15,000, whichever is greater
  • You cannot transfer a balance from any other Chase accounts
  • 3% foreign transaction fee, making it not a great card for travel
  • Late payment fees range from $15 to $35 depending on your balance

Apply Now

 

Capital One Spark Cash Card

This business card is a no-nonsense, simple cash-back card. There are no categories to worry about. You get 2% cash back on all business purchases. Period. However, this card is more difficult to acquire since it is only available to people with excellent credit. The Chase Ink card has a bit more flexibility, though still requires good to excellent credit.

Despite the excellent credit requirement, this card has a higher interest rate than the Chase Ink card, which is an important factor to consider when applying for any card, but particularly for one that already has a high credit standard.

Another downside: There is no special introductory rate. While the Chase Ink card provides a year of 0% APR on purchases and balance transfers, the Spark card starts at 17.49% and stays there.

Let’s take a look at what’s good and bad about this card.

Pros:

  • No annual fee for the first year
  • $500 cash bonus once you spend $4,500 on purchases within the first three months
  • 2% cash back on all purchases for your business, no category restrictions
  • Add employee cards at no additional costs and earn rewards from their purchases too
  • $0 fraud liability if your card is lost or stolen, and you get real-time alerts of fraud attempts via text, email or phone
  • No transfer fees

Cons

  • After the first year, there is a $59 annual fee
  • 23.49% APR for cash advances
  • Must have excellent credit to qualify
  • APR starts at 17.49%
  • No special introductory APR
  • APR is raised to 29.99% if you are late with a payment

Read Review
So which of the two cards is better for your particular business?  If you plan to spend the bulk of your money on office supplies or cable/telecom costs, then the Chase Ink card  will serves you well. But don’t forget the $25,000 spending limit. If your company will need to spend more in these two categories, then it may not be the best card for you.

If your company won’t be spending a lot on office supplies and cable/telecom costs, then the Capital One Spark Card may better suit your needs. This card has no category restrictions and simply pays the user 2% cash back on any type of purchase, no limits.

There are other factors to consider, of course, including APR, the annual fee of the Spark Card and more, but the type of supplies that fuel your business should be the deciding factor when choosing between these two cards.

For a breakdown of other business credit cards and their features, check out check out SuperMoney’s reviews.

Best_Business_Credit_Cards

Best Business Credit Cards 2018

Looking for the business credit card that will offer you the best rewards for purchases you routinely make? There are a wide range to choose from that let you earn while you spend. Maybe you travel often and want to earn free miles, spend on office supplies and want cash back or want reward points for all of your purchases. Whichever is the case, there’s a card for you.

Business owners need to do their research. Here we have chosen our five best business credit cards for 2018 to help you come up with the best fit for you.

Spark Miles from Capital One

The Spark Miles business rewards credit card has an annual fee of $59 (waived for the first year). You earn two times the miles on every purchase you make for your business. The rewards never expire and there is no limit to the amount you are able to accumulate. The miles can be redeemed in a number of ways including as cash back, making travel-related purchases or through gift cards.

Additionally, the enrollment offer gives you 50,000 bonus miles when you spend $4,500 on purchases within the first three months of having the card.

Other benefits include free employee cards, no foreign transaction fees, purchase security and extended protection.

Spark Cash from Capital One

The annual fee for this cash-back rewards card is $59 (waived for the first year).

As for rewards, you earn 2% cash back on all purchases for your business. Rewards never expire, there are no caps on them and they can be redeemed as gift cards, travel or cash back.

When opening a Spark Cash credit card account, you can get a bonus of $500 if you spend $4,500 within the first 90 days.

Other benefits include no foreign transaction fees, travel and emergency assistance and an auto rental collision damage waiver.

The Enhanced Platinum Card

This is a charge card with an annual fee of $450. You are required to pay your balance in full each month.

Points are earned as follows.

  • On purchases under $5,000, you earn one point for each dollar spent.
  • On purchases of $5,000 or more, you earn 1.5 points per dollar spent.
  • Book your travel through the American Express® travel website and you earn two points per dollar spent.

Note there is a cap of 1 million points per year.

As for promotions, if you spend $10,000, you receive 50,000 membership reward points. If you spend an additional $10,000 within your first three months of having the card, you earn another 25,000 points. Points are worth one cent when used on travel and 0.6 cents when redeemed for gift cards or as a credit on your statement.

In addition to points, some of the other benefits include a $200 airline fee credit, a 50% airline bonus, access to a range of global airport lounges, car rental, free Boingo internet, no foreign transaction fees and a concierge service. This is a great card for frequent travelers.

Chase Ink Cash Card

This cash-back rewards credit card has no annual fee and an introductory APR of 0% for the first 12 months.

It offers the following rewards:

  • 5% cash back on purchases at office supply stores or those linked to mobile phones, cable TV, internet and landlines up to $25,000.
  • Earn  2% on purchases of gas and dining out up to $25,000.
  • Earn 1% back on all other purchases with no limit.

Points can be used for travel, gift cards or cash back.

The enrollment bonus for the Chase Ink Cash Card gives you $300 cash back if you make $3,000 worth of purchases in the first 90 days of opening your account.

Other benefits include employee cards at no additional cost, purchase protection, lost luggage reimbursement, and travel accident insurance.

Review and compare more business credit cards

Each of these cards provides rewards, enrollment bonuses and other benefits. Once you determine what your needs are, you can compare these cards and other offers at to our business credit card page. It has reviews and the information you need on annual fees, interest rates, introductory rate offers and other key comparisons.

Best Small Business Credit Cards

Best Small Business Credit Cards of 2018

Credit cards are an excellent financing tool for startups and small businesses. They offer a fast source of credit, generous reward rates, and large sign-up bonuses. Business credit cards can also help you build your company’s credit and solve cash flow problems.

However, there are hundreds of small business cards to choose from. Which credit card is best for your business?

Before we dive into our top picks, let’s cover the basics every business owner should know about credit cards. Check out SuperMoney’s list of best small-business credit cards of 2016.

What are small-business credit cards?

Small-business credit cards are cards that are marketed particularly for small companies. Credit card companies don’t have fixed rules on what qualifies as a small company. They do look at revenue, number of employees, and years in business to determine eligibility, but even a sole proprietorship — the simplest and most common business structure — with one employee can qualify for a business credit card.

The Small Business Administration does set standards on what qualifies as a small business, but these don’t apply to business credit cards.

What’s the difference between personal and business credit cards?

Personal and business credit cards may look similar, but there are important differences to consider.

Credit Card Act of 2009 protections

Credit card companies don’t have to follow the same rules when dealing with businesses. The Credit Card Act of 2009 granted consumers important protections, such as a limit on fees and restrictions on interest rate hikes. In most cases, credit card issues offer the same protections to businesses as a courtesy. However, it’s worth checking the small print as these provisions don’t always apply to business credit cards.

Credit reporting

Business credit cards report your activity to commercial credit bureaus. Some credit card companies, such as American Express® and Capital One, will also report to both consumer and business credit bureaus.

Credit limits

Credit limits for business credit cards tend to be larger than personal credit cards. This can help business owners build their personal credit score, as some credit bureaus – such as Experian and Equifax – consider your business line of credit when calculating your personal as well as your business’ credit score. In the case of your FICO score, 30% of your credit score depends on your credit utilization ratio (amounts owed).

FICO Chart

Source: myfico.com

Personal liability with business credit cards

In most cases, credit card companies require business owners to sign a personal guarantee and provide their Social Security number. If you do this, you are promising to pay the credit card debt if your business doesn’t.

Read the small print in your credit card agreement. If you had to agree to a personal guarantee or a “joint and several liability” when applying for the card, you’re personally liable for your business’ credit card debt.

Typically, only the owners of larger companies who apply for corporate cards with commercial liability are off the hook if their business is unable to repay its credit card debts.

Here are SuperMoney’s Best Small Business Credit Cards for 2018. We have focused on credit cards with low annual fees that still offer high reward rates and generous perks.

Best Business Credit Cards

Credit CardAnnual FeeSignup BonusRewards 
$0$3005% cash backApply
$0No Signup Bonus1% cash backApply
$59 (waived first year)$500 (50,000 miles)2x miles on all purchasesApply
$450$500- $200 airline credit
- Global Entry TSA
- Airport lounge access
Apply

Best all-around: Chase’s Ink Cash Business Card

The Chase Ink Cash It has no annual fee but it gives you a long 0% intro APR on balance transfers and purchases, a $300 signup bonus cash back, and reward rates of up to 5%. The 0% intro APR is a lifesaver for small companies looking for and interest-free loan for large purchases. The Ink Cash also comes with prime perks, such as extended warranty protection, auto rental collision damage waiver, and purchase protection. You don’t have to be a big or established company either. Even micro-businesses with one or two employees can qualify.

Apply Now

PROS
No annual fee

 $300 signup bonus

0% Intro APR on balance transfers and purchases

Cash back rates of up to 5%

Purchase protection

Extended warranty protection

Auto rental collision damage waiver

Employee cards at no additional cost

CONS
Bonus reward rates have a $25,000 limit

You need good credit

Best for travel: Capital One Spark Miles for Business

How does a signup bonus of 50,000 miles sound? If your business spends $4,500 on purchases in the first three months, Capital One Spark Miles gives you that as a sign-up bonus. Add to that 2x miles for every $1 you spend on all purchases with no limits and you’ll be on your next and you can see why this is one of our favorite business travel cards. It only has a $59 annual fee (waived the first year), which makes it perfect for small business.

Thera are no foreign transaction fees and extra employee cards don’t cost you a dime. The card also includes auto collision damage waiver, travel and emergency assistance services, purchase security, and extended warranty protection. You (or your accountant) will appreciate how Capital One sends quarterly itemized reports of credit card spending.

Apply Now

PROS
Low annual fee $59 (waived first year)

 50,000 miles signup bonus

No foreign transaction fees

2x miles for every $1 (no limits)

Purchase protection

Extended warranty protection

Auto rental collision damage waiver

Employee cards at no additional cost

CONS
No 0% APR intro period

Late payment fees of $39

Has an annual fee

Best for not-so-great credit: Capital One Spark Classic

The Capital One Spark Classic is the ideal card for business owners that don’t have great credit and don’t want to spend money on annual fees. If your personal credit history is not good, you will struggle to qualify for most business credit cards. The reward rates are low, just 1% cash back. But you get valuable perks and there is no limit to how much cash back your can earn. There’s no extra cost for additional cards. Capital One also offers itemized statements every quarter to help with tax preparation with this card.

This card does not include 0% APR periods and the interest rates are high. However, it is a great way to build your business’ credit history while you earn rewards on your business purchases.

Apply Now

PROS
No annual fee

Travel and emergency assistance

Auto rental insurance

Itemized statements

Employee cards are free

 

CONS
Low reward rates

No intro 0% APR

High interest rate (23.24% APR)

How to find the best card for your small business?

Still looking for a card that fits your needs? No problem. SuperMoney has reviews and customer comments on hundreds of credit cards. SuperMoney’s credit cards database allows you to filter credit cards by the features that matter the most to you.

top business credit cards 2016

9 Best Business Credit Cards of 2017

Business credit cards are an excellent way to convert business expenses into cash back and travel points. They are also an inexpensive way to reward employees (or yourself) with valuable travel perks.

Although personal credit cards have their place in an entrepreneur’s toolbox, companies need their own business credit card. Once a business has progressed beyond the launch phase, establishing separate business bank accounts and obtaining business credit cards are two of the best strategies for improving its credit profile.

This list of the top business credit cards of 2017 has something for every type of business. Whether your business is small, large, spends insane amounts of money on air travel, gas, office supplies, cell phone bills, or restaurant tabs, there is a business credit card for you. SuperMoney’s credit card search engine allows you to filter through dozens of business credit cards by selecting the features that mean the most to you. The business credit cards in this list are a selection of the best available in 2017. They will help you improve your credit, manage your cash flow, and come with better sign-up bonuses and reward rates than most consumer credit cards.

Chase Ink Business Preferred 

Chase ink preferred

Chase Ink is the best business credit card for rewards of 2017. Period. The Ink Plus Business Card has an 80,000-point signup-up bonus for cardholders who spend $5,000 within the first three months of opening an account. That’s the equivalent of $1,000 in travel. It has a $95 annual fee, but the signup bonus alone will cover the first 10 years.

Rewards for the Chase Ink Plus Business Credit Card

This card allows you to earn:

  • 3 points for every dollar you spend in select business categories.
  • 1 point for every other dollar you spend with no limit

The Ink Plus uses Chase’s Ultimate Rewards program, which is valued at 1.25 cents a point. Cardholders can transfer points to other loyalty programs. Business owners can set spending limits for employees, and there is no charge for additional cards.

Drawbacks of the Chase Ink Plus Business Card

  • The only downside of the Ink Plus is you don’t get travel perks that are standard with other travel credit cards, such as priority boarding and waived baggage fees.

Capital One Spark Miles Visa Card for Business

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The Capital One Spark Miles for Business Card is one of the best credit cards for travel. It has a 20,000-point sign-up bonus for new cardholders who spend $3,000 in the first three months and no annual fee.

Rewards for the Capital One Spark Miles Visa Card for Business

  • The bonus rate is a fixed 1.5 miles for every dollar you spend.
  • Reward points can be used for travel statement credit, so you’re not stuck with a particular airline or car rental company.

Drawbacks of the Capital One Spark Visa for Business

  • You can’t transfer points to other loyalty programs, and there aren’t fancy perks included, such as free checked bags or airport lounge access.

Chase Ink Cash Business Credit Card

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The Chase Ink Business Cash is the best credit card for businesses looking for a no-annual-fee cash back card. With the Ink Business Cash, you can earn $300 when you spend $3,000 on purchases during the first three months, and it has no annual fee. New cardholders also receive a 0% intro APR for 12 months on purchases and balance transfers

Rewards for the Chase Ink Business Cash Credit Card

The reward rates are:

  • 5% cash back on office supplies, cell phones, landline phone service, cable TV, internet up to $25,000 a year
  • 2% cash back on restaurants and gas stations up to $25,000 a year
  • 1% on all other purchases

Drawbacks of the Ink Business Cash

  • Businesses that don’t plan to use the 0% intro APR should also consider the SimplyCash Plus, which has a better signup bonus and higher cash back rates.

The Business Platinum Card from American Express® OPEN

Business Platinum Card® from American Express® OPEN

The Business Platinum Card from American Express® Open is one the best card for businesses looking for luxury travel perks. The catch is its $450 annual fee. However, if you or your employees like to travel in style, you will love this card. it offers a 50,000 Membership Rewards points signup bonus to cardholders who spend $5,000 within the first three months, and it grants access to Centurion Lounges, Delta Sky Clubs, and Airspace Lounges. Travelers can also enroll in Priority Pass Select for free and receive a $200 credit on airlines expenses, such as checked baggage fees and flight refreshments. Cardholders who apply for Global Entry ($100 cost) or TSA Pre ($85 cost) receive a statement credit every five years and enjoy complimentary wifi access through GoGo and Boingo.

Rewards Rates for the Business Platinum Card from American Express® Open

The bonus rates are:

  • 2 points for every dollar spent on travel booked through American Express®
  • 1% on all other purchases

Drawbacks of the Business Platinum Card from American Express® Open

  • Low reward rates for a card with a $450 annual fee
  • This is a charge card, not a credit card; purchases must be paid within the same cycle, or you will incur hefty fees.

SimplyCash Plus Business Credit Card from American Express®

SimplyCash Plus Business Credit Card from American Express®

The SimplyCash Plus Business is another great choice for small businesses looking for a no-annual-fee cash back card. New cardholders can earn a $250 signup bonus when they spend $5,000 within the first three months.

Rewards Rates for the SimplyCash Plus Business Credit Card

The reward rates are:

  • 5% cash back on U.S. office supply stores and wireless phone services
  • 3% cash back on an additional category of your choice. Categories include: Airfare, hotel rooms, car rentals, gas stations, restaurants, advertising, shipping, and computer hardware/software
  • 1% on all other purchases

Drawbacks of the SimplyCash Plus Business Credit CardThe 3% cash back only applies to airfare, hotel rooms, or car rentals when purchased directly with the companies.

  • Purchases made through a travel agency or website don’t get the bonus cash back rates
  • The signup bonus is modest considering you have to spend $5,000 to qualify

US Bank Business Visa Cards

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The US Bank FlexPerks Business Edge Travel Rewards awards 20,000 bonus Flex points after spending at least $3,500 within four months after obtaining the card.

Rewards for the US Bank FlexPerks Credit Card

Cardholders earn

  • 2x FlexPoints for every $1 spent on gas, airlines, office supplies, and cellular providers
  • 3x on charitable donations
  • All other purchases receive 1 FlexPoint for every $1 spent.

Cardholders who spend $24,000 a year get the $55 annual fee reimbursed.

Each award ticket obtained provides an airline allowance of up to $25 good for baggage fees or in-flight food and drink. The US Bank Business Edge Cash Rewards card offers a 25 percent bonus of all the previous year’s cash back awards, up to a maximum of $250.

Drawbacks of the US Bank FlexPerks Credit Card

  • Points must be redeemed through FlexPerks program
  • High annual fee for a card with average reward rates

CitiBusiness AAdvantage Platinum Select World Mastercard

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The CitiBusiness AAdvantage Platinum Select World Mastercard rewards new cardholders with 30,000 bonus American AAdvantage miles if they make $1,000 in purchases during the first three months of obtaining the card. Card members are also entitled to Group 1 boarding and 25 percent discount on food and beverages purchased with the card during flights.

Rewards for the AAdvantage Platinum Select World Mastercard

  • Cardmembers also earn 2 miles for every $1 in eligible flight-related purchases, including codeshare flights booked through American Airlines
  • 1 mile for every $1 for most other purchases.

Drawbacks of the AAdvantage Platinum Select World Mastercard

  • Travel rewards only benefit regular American Airlines travelers.

Gold Delta SkyMiles Business Credit Card from American Express®

Gold Delta SkyMiles Business Credit Card from American Express®

The Gold Delta SkyMiles business Credit Card from American Express® is ideal for business owners who spend a lot of time traveling, especially on Delta flights. Cardholders earn 30,000 bonus miles after spending at least $1,000 during the first three months after obtaining the card. You can also earn a $50 statement credit by making a Delta purchase within the first three months after receiving the card. Your first bag flies free, and there are no foreign transaction fees.

Rewards for the Gold Delta SkyMiles business Credit Card

  • Earn 2 miles for every $1 spent on qualifying Delta purchases
  • 1 mile for every $1 spent on all other purchases

Drawbacks of the Gold Delta SkyMiles business Credit Card

  • Low reward rate for a business card
  • $95 annual fee

Bank of America Cash Rewards for Business Mastercard

Bank of America Cash Rewards for Business Mastercard

Bank of America Cash Rewards for Business Mastercard is another card to consider if you’re looking for a cash back card with no annual fee. New cardholders receive a $100 statement credit bonus for spending $500 within the first 60 days.

Earn 3 percent cash back for office supplies and gas, 2 percent cash back for restaurant meals and 1 percent cash back on all other purchases made with the card, with no limits on rewards. You can transfer your rewards to a Bank of America savings or checking account or receive cash in hand. The card carries a 0%  APR on all purchases during the first nine cycles after obtaining the card, and there is no annual fee.

Rewards for the Bank of America Cash Rewards for Business Mastercard

  • 3% Cash back at gas stations and office supply stores up to $250,000
  • 2% on purchases at restaurants
  • 1% cash back on all other purchases

Drawbacks of the Bank of America Cash Rewards for Business Mastercard

  • Modest signup bonus.

The Benefits of Business Credit Cards

Obtaining credit and maintaining positive cash flow can be an ongoing challenge, especially for small businesses. Business credit cards allow entrepreneurs a measure of flexibility in managing their businesses’ finances. They also help business owners establish a separate business credit profile by separating business and personal expenses. Maintaining separate business and personal records is also a significant advantage when tax time rolls around.

The cash back and reward points you can obtain from your business card are also significant, even for micro-businesses. According to a recent survey, micro-businesses spend an average of $2,245 a month on business expenses. At 2x points, that represents $539 a year in cash back or travel credit.

If you still haven’t found the right card for your business? Consider using SuperMoney’s credit card search engine. Choose the features and rewards that matter to you and see which credit cards fit your criteria.

Shares for the Chinese e-commerce giant, Alibaba, opened at $92.70 a share on the New York Exchange last Friday. This made Alibaba the biggest initial public offering in U.S. History and Jack Ma, the co-founder of Alibaba, the richest man in China. (NPR)

If you don’t know what Alibaba is, imagine an online company that is more valuable than Facebook, combines the services of Amazon and Ebay and handles more merchandise than both of them combined.

Related article: 10 Common Habits of the Super Rich That Actually Made Them Rich

Although Jack Ma is still not a household name outside of China, like Bill Gates, Steve Jobs or Jeff Bezos, that is about to change. Here are 20 things you didn’t know about Jack Ma that will help you get up to speed.

1. Jack Ma only owns 6% of the company he founded.

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However, he sold nearly $1 billion in stock last Friday, his current stake in the company is still worth $18 billion and he owns 46% of the company’s electronic-payment affiliate Alipay, which was valued by Forbes at $20 billion. (IBR)

2. He flunked his university admission exam. Twice.

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It’s not like he was applying for the Chinese equivalent of Harvard, either. In an interview with Inc. in 2008, Jack Ma admitted his university, Hangzhou Teachers’ University, was considered the worst university in the city. However, Mr. Ma’s leadership skills didn’t take long to surface. He was elected the student chairman of his university and later on became the chairman of the city’s Student’s Federation.

3. He applied for a job at KFC, and was rejected.

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Once he quit his teaching job he started looking for other opportunities. When KFC rejected him, he started a small-time translation and interpreting company. (Inc.)

4. His true love is show biz… and dogs.

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Although he has come a long way since being the son of underground ping tan artists, he hasn’t lost the flamboyant love for showmanship he inherited from them.

Apart from Apollo, his Alsation dog, Ma loves nothing more than singing and dancing on stage, especially if he gets to wear outlandish outfits and heavy makeup. His version of Lion King is a must-see. Having said that, his rendition of “Can you feel the love tonight?” dressed in a leather jacket with a humongous spiked Mohican is not bad either.

5. Forest Gump is his lifelong hero.

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Every time he gets stressed out, he watches the movie again. What does Ma get from Forest Gump? “No matter whatever changed, you are you.” That’s deep. (CNBC)

6. His parents were performers in an illegal form of Chinese entertainment.

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Jack Ma’s parents were practitioners of the “ping tan,” a Chinese tradition of musical storytelling that was banned during Mao’s Cultural Revolution from 1966 to 1976.

7. His avatar is “Feng Qinyang”

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Jack Ma also goes by his nickname Feng Quinyang, a legendary swordsman who is known for his aggressive, unpredictable and reclusive character. The nickname fits his business practices but not his public life. Jack Ma is no recluse. (The Hindu)

8. Jack Ma learned English as a teenager by giving free tours to visitors on the West Lake in Eastern China.

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He would ride 40 minutes every morning to a hotel in the nearby city of Hangzhou. His exposure to foreign visitors gave him a more globalized view that conflicted with what he learnt from his teachers and textbooks. (BBC)

9. He started out his career as an English teacher.

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In the past, the Chinese government would assign jobs to university graduates, who had little say in the matter. Mr. Ma was the only one of 500 students assigned to be a university teacher even though he trained to be high a school English teacher. It was an honor, but Jack Ma couldn’t wait to finish his five-year stint and start his own business. I can’t see why. He was making 120 renminbi, or $15 a month. (Financial Post)

10. Jack Ma didn’t see his first computer until he was 31.

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In 1995, he went on a trip to Seattle on interpreting business, saw his first computer and started surfing the World Wide Web. It would be a trip that would change his life forever. (Inc.)

Ma may not have been an early adopter of computers and the internet but he sure became a true believer. He immediately saw the potential and started to look for ways to create a viable online business in mainland China.

11. He was kidnapped on his first trip to the United States.

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Part of the reason he accepted the interpreting gig in the States was to help a friend collect a debt from an American businessman. When Ma asked for the cash back, the businessman wouldn’t play ball. Instead, he locked Ma in his house, got his handgun out, and tried to strong-arm him into cutting a deal.

What happened later, seems more like a Hollywood movie than the bio of a executive chairman. The businessman forced Ma to go with him to Las Vegas, where Ma gambled his last few dollars on the slot machines and made $600. He then ran away from his captor and used his gambling winnings to buy a plane ticket back to Seattle.

12. His first start-up was a complete flop.

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Excited about the potential of starting an internet business in China, Ma returned home and started his first real business, China Yellow Pages. He used his life savings and a loan from a relative to cobble together $2,000 he needed to get the business started.

On the launch date of China Yellow Pages, Ma invited his friends to his house to see his website. After three and a half hours, only half his page had loaded. Don’t you miss the days of dial-up internet?

13. Jack Ma started Alibaba with a group of his English students.

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In 1999 a group of Ma’s students, who had become his friends, met at his apartment and put together the founding goals of what would become Alibaba. At first, he didn’t have that much trust in his friends. He told them they would only ever reach mid-management positions, never vice-president roles. Those roles would have to be taken by outside help.

Later, Ma called that decision his biggest regret. Years later his friends were still around filling those vice-president roles while the outside help had long gone.

14. He gave up a big chunk of his company to his 18 “co-founders.”

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If there’s something Ma knows how to do right, it is motivating his workforce. Even though he was the only real founder, Ma named the 18 friends who were with him in the early days co-founders and shared a big chunk of the shares in Alibaba with them when he incorporated the business.

15. He is barely computer literate.

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Ok. He can switch a computer on and send email, but not much more. In an interview with Charlie Rose he explained how he was trained as an English high school teacher and knows nothing about technology. “The only thing I can use my computer for is to send, receive email and browse.”

16. His wife thinks he’s ugly but she fell for his other skills.

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Jack Ma met his Zhang Ying while still at college and they married soon after graduation. When Ma quit teaching, Zhang stayed on as a teacher while he tried his luck with China Yellow Pages. Zhang is quoted as saying “Ma Yun is not a handsome man, but I fell for him because he can do a lot of things handsome men cannot do” (Want China Times).

17. He hired his wife as “political commissar” of Alibaba.

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Yes, Chinese companies actually have political commissioners. In the early days her role as political commissar mainly consisted in cooking a doing odd errands, but she eventually became the General Manager of Alibaba in China. Once she was at the pinnacle of her career, he made the gutsy move of asking her to step down and go back to caring for their kids and cooking his meals. (Want China Times)

If there is anything that stands out from Jack Ma’s story is how unexpected his rise to unimaginable riches was. Sure, Bill Gates, Steve Jobs, Jeff Bezos and Warren Buffet also have inspiring stories of entrepreneurs who were willing to put everything on the line to build huge corporations from scratch. Yet, from early on, they all showed signs of natural ability in their fields.

18. His real name is Ma Yun.

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19. Jack Ma is worth $25 Billion.

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Even though Alibaba doesn’t actually sell anything, it takes a cut of 80% of all the goods sold online in China, a country with over 600 million internet users.

The record-breaking IPO of Alibaba pushed Jack Ma’s personal fortune above the previous richest man in China, Wang Jianlin, who is worth a measly $24.2 billion.

20. His initial plan was to hand over the company to professionals after four years.

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Although Jack Ma is now well known for his bold statements and dressing like a rock star, he wasn’t always that confident technology tycoon. When he first started Alibaba, back in 1999, he was a shy amateur with a dream who felt he could only stay in his company for four years before handing it over to a pro.

Ma was brought up in a communist society. He barely made it into university, didn’t see a computer until he was 31 years old and still can’t write a line of code, even it his life depended on it. Yet he is the founder of an online technology company that dwarfs some of the most successful corporations in the world. Go figure.

Ready to start your own company? Research the best business loans with SuperMoney’s business loan search engine.

Image Credit : Bloomberg

 

Need cash in a hurry but don’t know which personal loan company you can trust? Supermoney is here to help you find the best options for all you loan needs.

Women are smarter and more educated. Their brains are better equipped for multitasking and creating solutions that work for a group and, according to a study by Jack Zenger and Joseph Folkman, they are also better leaders than men. All key qualities for successful entrepreneurs. Why then are men twice as likely to run their own business? Why are only 30% of firms owned by women? And, why do these businesses only account for 11% of sales and 13% of employment among private-held companies, as the Department of Labor reports (PDF)?

These are important questions because they deal with the most critical demographic in our economy: entrepreneurs. What do they matter? Entrepreneurial firms have accounted for 90% of new job creation (PDF) in the US during the last 15 years. We know women have the tools to be superb entrepreneurs; so, why the disconnect between potential and reality? Recent research into the success and failures of female entrepreneurs sheds light on these questions.

Successful Female Entrepreneurs Are Nearly Identical to Successful Male Entrepreneurs

Women Men Execs A study by funded by the Kauffman Foundation (PDF) focused its research on successful entrepreneurs and used a sampling methodology where men and women were matched in the same industries. The study found that when comparing apples with apples, successful female entrepreneurs and their male counterparts are similar in nearly every aspect. They had the same levels of education, an early interest in starting their own business, a strong desire to build wealth, and access to financing. Men and women even agreed on the top challenges and issues entrepreneurs have to face. Still, what’s the difference?

Experience and Encouragement Are More Important to Women

Women Experience Despite the marked similarities between successful male and female entrepreneurs in the Kauffman Foundation study, there were some telling differences in what factors they considered to be more important for success. Although men also considered prior work experience in the industry as important (they rated it a 4.34 out 5), women were particularly adamant on how crucial experience is to success (4.73 out 5). The other major difference between men and women, which may provide an important clue on how to increase the number of female entrepreneurs in the economy, was what motivated them to start their own business.

While 56% of women were encouraged to become a partner by the their company’s co-founder, only 31% men were motivated by a partner. Similarly, 55% of women were encouraged by an entrepreneurial friend or family member who acted as a role model as opposed to 40% of men. In less words–women are encouraged to excel more than men are.

Women Start With Less Capital and Are More Likely To Obtain Funding from Business Partners

Women Business Partners According to Women-Owned Businesses in the 21st Century, a 2010 report prepared by the U.S. Department of Commerce for the White House Council for Women and Girls, women start with less capital than men. They are also more likely to say they don’t need any financing to start their business. The Kauffman study also found that although most entrepreneurs funded their startups with their personal savings (68% of women and 61% of men), women were nearly twice as likely to receive financing from business partners (29% of women and 16% of men).

Other researchers (Kepler and Shane, 2007; and Croson and Gneezy, 2009) have also found that female business owners are less likely to engage in risky business ventures, minimize risk in their own business operations and are less likely to borrow aggressively.

Female Entrepreneurs Are Better At Obtaining Angel Funding, and They Rock At Crowdfunding

Crowdfunding A 2013 study by JMG Consulting for the Small Business Administration reported that only 6% of venture capital goes to startups owned by women. But when it comes to the angel investor market and crowdfunding, women are on top. Although women only accounted for 16% of the entrepreneurs looking for angel capital, in 2012, 25% of the women that applied for angel capital were successful, which represents a 4% lead on male entrepreneurs. (Source)

Crowdfunding, the financing of businesses by large numbers of non-accredited investors, is becoming a growing source of capital, particularly among smaller startups. According to a report by researchers at Berkeley that studied the success rate of men and women at leading crowdfunding platform Kickstarter.com, women had both lower capital goals and higher rates of success (69.5% vs 61.4%) when trying to obtain the funding they need to start their business.

The More Female Executives A Company Has, The Better Its Odds For Success

Women Execs Women at the Wheel, an influential 2012 report published by Dow Jones, reported that the proportion of female executives in successful businesses is 7.1%, while it’s only 3.1% in unsuccessful businesses. The study also indicated that a company’s chances of success increase with the number of female executives at the vice-president and director levels. For instance, 61% of startups that had five or more women were successful and companies with an executive team composed of 5% to 25% female executives were successful.

Let’s Make a Few Conclusions About Female Entrepreneurs (and Women In General)

Young woman thinking with question mark circulation around her h The issues surrounding the differences between male and female entrepreneurs are obviously complex. After all, many say that women are naturally better with money and investing than men–that it’s a talent men simply do not have (Today, Financial Post, MSN Money). From the data we’ve collected on entrepreneurship studies, though, there are four conclusions we can reach:

First, women have all the right tools to become great entrepreneurs. If anything, they have a biological advantage over men. Although they are still behind male entrepreneurs, the number of women-owned businesses grew by 44% between 1997 and 2007, twice as fast as businesses owned by men. (Department of Labor)

Second, whatever source of capital you look at, women are raising a heck of a lot less of it. Women require less money to start a business, prefer to obtain funding from business partners, and are less prone to take risky loans. This may explain why businesses founded by women are smaller and generate less sales.

Less capital may certainly constrain female entrepreneurs’ ability to build companies that can scale. It also reduces their liquidity and stunts their potential for long-term growth. However, as the recent recession showed, a healthy aversion to high risk ventures is not necessarily a bad thing.

Third, successful female entrepreneurs put a lot of value in experience and are particularly responsive to encouragement from role models and business partners.

Finally, companies that are owned, co-owned or who have women in positions of leadership do better than companies that don’t. These conclusions suggest an obvious win-win strategy for women and businesses, venture capitalists and angel investors. Hire, encourage and invest in female entrepreneurs; they offer a killer return on your investment.

consolidat debt with credit card

7 Reasons to Consider a Business Credit Card

It used to be daring and unusual to march off to start your own business. Not so any longer. Today, solopreneurs, freelancers, contract workers, “permatemps” and other non-employed workers make up one third of the American workforce. Still others successful operate small and micro businesses, employing 1-50 workers. Some of these folks are surprised when they venture out to independence and find themselves confronted with challenges seemingly unrelated to the business they engage in.

Good financial management is critical to operating any successful business. Separating your business finances from personal is a huge step in the right direction. Getting a business credit card offers several distinct advantages.

Keep business and personal finances separate

The more money going in and out of your business, the more of a nightmare bookkeeping and taxes are when it comes time to separate personal from business. If your business is incorporated, it’s critical to avoid co-mingling funds. The legal protection afforded to you, the person, by the act of incorporation is voided if you fail to keep personal money out of the business and vice versa. If your business is ever sued, a smart lawyer will immediately seek to sue you, the person, alongside your company on the basis that you co-mingled funds and otherwise failed to keep business and personal assets separate.

Build business credit

Using a business credit card responsibly builds a good credit history for your business, separate from your own personal credit history. Initially, you’ll have to personally guarantee repayment. Approval will depend on your personal credit score and credit history, and your credit is intertwined with that of your business. Later on, once you build a credit history for your business, you’ll be able to apply for financing based solely on the business’s credit, allowing you to further separate business finances from personal. It’s important to note, though, that positive financial behavior on your business account might not show up on your personal credit history. Default, however, will show up on your personal credit report and will negatively affect your credit score.

Build credibility

Presenting a vendor with a business credit card immediately makes you look more professional and organized. Subtle non-verbal cues like this can have a positive overall effect on their perception of you and subsequently how you are treated.

Tax benefits

You should pay off your balance every month. But if you don’t, the interest you pay on your business account is tax deductible.

Budgeting and bookkeeping

Making all of your business purchases with the credit card helps you keep an accurate eye on the budget. You can give each authorized employee his or her own card and track exactly how it is used. You’ll also have improved cash flow and the opportunity to generate revenue before paying for certain supplies or other expenses. The credit card’s grace period effectively becomes an interest-free loan. Making all of your purchases on one account may also allow you to categorize and limit spending more easily than you could in a cash-based system.

Sign-up bonuses and rewards

Many business cards offer incentives to open and use the account. For example, Chase Ink offers five times rewards for certain qualifying purchases: office supplies and cellular phone, internet, landline and cable t.v. service. One reward point is generally worth about 1%, so this offer nets the card owner a 5% bonus on those purchases. Rewards can be redeemed for statement credit or other items.

Purchase protection

Like personal credit cards, business cards come with a certain amount of protection and free insurance for purchases made using the card. For example, most major business cards offer free auto rental collision damage waivers. Others offer price guarantees on all purchases made with the card.

A word of caution: federal law does not give the same protections to business credit cards as it does to consumer credit cards. Be aware that you take on more risk by opening a business credit card account. The CARD Act of 2009 applies to consumers, not businesses.