If you’re a business owner gearing up for end-of-year festivities, now might be a smart time to pick up a business credit card. With a business card that offers rewards, you can earn cash-back, travel rewards, or special incentives for all of your year-end gifts. Not only that, but there are all kinds of long-term incentives that could convince you to keep your new card for the long haul.
Before you spend hundreds – or even thousands – of dollars on holiday gifts for your employees or vendors, it can pay off to spend some time figuring out the best business credit card for your needs. Here are some options to consider along with their pros and cons for the 2017 holiday season and beyond:
#1: Ink Business Preferred℠ Credit Card
The Ink Business Preferred℠ Credit Card
offers one of the best incentives to sign up and use it for employee gift-giving. This card offers an amazing 80,000 points after you use it for $5,000 in purchases within three months of account opening. You’ll also earn 3x points on bonus categories that include travel, shipping purchases, internet, cable, and phone, and advertising made with select social media, and 1x points on all other purchases.
This offer can be advantageous no matter your rewards goals – and for more reason than one. Since this is a premier travel credit card, you can use your points to book travel through the Chase Ultimate Rewards® travel portal or transfer them to popular transfer partners like World of Hyatt®, Marriott Bonvoy™, IHG® Rewards Club, British Airways Executive Club, Southwest Airlines Rapid Rewards®, or United MileagePlus®.
- Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year.
- Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn.
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Redeem points for travel, cash back, gift cards, and more - your points don't expire as long as your account is open.
- No foreign transaction fees
- Employee cards at no additional cost
- $95 Annual Fee
#2: Capital One® Spark® Cash for Business
The Capital One® Spark® Cash for Business
offers a very simple earning structure and rewards program that can benefit any business owner hoping to earn cash back for their end-of-year spending. This card offers a flat 2% cash-back on every dollar you spend. Once you rack up enough points, you can redeem them for a statement credit at a rate of one cent per point.
This card also doles out a generous $500 in cash back after you use your card for $5,000 in purchases within the first 3 months of account opening. Earn $1,500 when you spend $50,000 in the first 6 months of your account opening. Best of all, it comes with an annual fee of only $95, but the fee is waived the first year.
- Pros: It’s hard to beat 2% cash-back for every dollar you spend, and redeeming your points for statement credits makes the entire process easy.
- Cons: While you can redeem your points to cover travel expenses, this card doesn’t let you transfer points to popular airline and hotel loyalty programs.
- Best For: This card is ideal for business owners who want to earn simple cash back without the hassle or stress of figuring out a complicated rewards program.
#3: Ink Business Cash℠ Credit Card
The Ink Business Cash℠ Credit Card is another business card that comes with long-term perks for the average business owner. Not only does this card offer $500 cash back after you use it for $3,000 in purchases within the first three months of account opening, but it comes with some pretty unique bonus categories. Once you sign up, you’ll earn 5 percent cash back on your first $25,000 spent at office supply stores and on internet, cable, and phone annually, 2 percent cash back on the first $25,00 spent in combined purchases at gas stations and restaurants, and 1 percent cash-back on all other purchases.
The fact you can redeem these points for statement credits makes this card an easy option for business owners who want to earn simple rewards. Keep in mind, however, that you can also cash in your points for travel, gift cards, or merchandise. The best part is, this card never charges an annual fee so you can keep it for the long haul.
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- %0 introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
#4: SimplyCash® Plus Business Credit Card from American Express
The SimplyCash® Plus Business Credit Card from American Express is yet another business card that could bring a bounty of rewards for any business owner who signs up in time for their end-of-year holiday spending spree. Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus, take control by choosing the 3% category that best fits your business.
In terms of rewards on your regular business spending, you’ll earn 5% cash back on the first $50,000 spent at wireless telephone services, purchased directly from U.S. service providers and U.S. office supply stores. Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight, and 1% cash back on other purchases. Your choices for your 3 percent bonus category include:
- Airfare purchased directly from airlines
- Hotel Stays
- Car rentals with select companies
- U.S. gas stations
- U.S. restaurants
- U.S. purchases for advertising on select media
- U.S. shipping purchases
- U.S. computer hardware, software, and cloud computing software with select providers
While having so many options is already a bonus, this card is especially beneficial for business owners because it doesn’t charge an annual fee.
- Pros: This card is fee-free, but it also lets you tailor your rewards to the unique spending patterns of your business.
- Cons: You can only redeem your points for statement credits.
- Best For: This card is ideal for any business who spends a lot in the included bonus categories but doesn’t want to pay an annual fee.
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