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The Best Credit Cards for Small Businesses

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Whether you're starting your own small business or you're already running one, its continued financial health is one of the most important things to keep in mind. For some extra security to fall back on if times get tough or to help build your business' reputation among creditors, you might consider opening a small business credit card. The benefits of doing so are numerous.

Having a credit card for your business builds the company's credit rating, which can help you get a line of credit for it if you want to expand later on. It gives you more financial flexibility, particularly if you need to make an expensive purchase. And, you can often get enticing perks like signup bonuses and ongoing rewards that aren't available with personal credit cards.

Thinking of getting a credit card for your small business? Check out these top picks and learn why they're great contenders to consider.

Capital One Spark Cash

The Capital One Spark Cash card is a simple flat rate, cash back business credit card with some fantastic rewards. After signing up, you get up to $500 cash back if you spend $4,500 on the card within the first three months. After that time, card purchases earn unlimited 2% cash back rewards in every purchase category, and there is no limit on the amount of cash you can redeem. The card also doesn't have conversions or point values to worry about. The 2% cash back reward never goes away, and the cash never expires, so the cumulative reward can be very beneficial over the long term.

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Annual Fee: $0 for the first year; $95 for each subsequent year. (Spark Cash Select has slightly different terms with no annual fee ever.)

Chase Ink Business Preferred

For entrepreneurs who want to leverage high-value, flexible rewards for their business expenditures, the Chase Ink Business Preferred credit card is an ideal option. This company credit card utilizes Chase's Ultimate Rewards (UR) scheme, which allows you to combine reward points from other Chase credit cards, such as Reserve or Sapphire Preferred, and use the combined points to redeem cash back and travel bonuses. The point system on the card gives you three points per dollar on the first $150,000 spent on travel and other select categories, and you get 100,000 bonus points if you spend $15,000 in the first three months.

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Chase Ink Business Cash Credit Card

The attractive 12-month introductory rate of 0% APR makes this card ideal for entrepreneurs who want to avoid interest when financing large purchases or transferring cash from one credit card to another. The Chase Ink Business Cash credit card is perfectly suited to startups setting up their new offices, as the card pays 5% cash back on the first $25,000 spent on office supply purchases and internet, phone and cable service expenses. It also pays 2% cash back on purchases at gas stations and restaurants and an introductory bonus of $500 if purchases total at least $3,000 in the first three months.

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American Express Business Platinum Card

If your small business venture involves a lot of traveling, the Business Platinum Card from American Express offers huge savings on flights, prepaid hotel stays, car rentals and other travel-related expenses, including fees for airport lounges like Delta Sky Clubs and Amex Centurion Lounges across the country. The card comes with an introductory bonus offer of 75,000 points if purchases exceed $15,000 in the first three months. It also offers a range of other travel-related bonuses, including 5X points on flights and prepaid hotels through AmEx Travel.

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American Express Blue Business Cash Card

This card is excellent for businesses who make a range of purchases each month. Companies enjoy 2% cash back on up to $50,000 in purchases each year as well as an introductory APR of 0% for the first year on both purchases and balance transfers. Cash back rewards appear as statement credits. Additional perks include no over-limit fees and Expanded Buying Power, which allows you to exceed your credit limit (to a specified extent) without penalty.

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AAdvantage Platinum Select World MasterCard

The AAdvantage Platinum Select World Elite MasterCard is a great business credit card option for companies with employees who fly a lot for work. It earns bonus flyer miles on travel expenses, including purchases at gas stations and via American Airlines. New account holders earn 50,000 bonus miles when they spend $2,500 within the first three months of opening their account. Additional perks include one free checked bag per flight and no foreign transaction fees.

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Annual Fee: $0 for the first year; $99 for each subsequent year

Best for No Credit or Credit Challenges: Wells Fargo Business Secured Credit Card

Small businesses establishing or building their credit rating benefit a great deal when using the Wells Fargo Business Secured credit card. A deposit in the range of $500 to $25,000 secures the credit limit of this card, while timely payments help the business establish the good credit they need to grow their business. Additionally, this credit card from Wells Fargo pays the business up to 1.5% cash back each quarter or an alternative option of one point per dollar with a 1,000 point bonus each month that total spending exceeds $1,000.

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