The Best Business Cards for Small Businesses

Published November 6th, 2017 by Servistree

According to the U.S. Small Business Administration 65 percent of small business owners use credit cards on a regular basis. Business credit cards serve as a primary source of financing for today’s small business owners.

As a business owner yourself, you may wonder what has spurred this increase in popularity. After all, there are now quite a few alternative financing options for small businesses to consider, so why do credit cards remain a top choice?

The National Small Business Association recently published a survey which showed that 29 percent of all small business owners have suffered reductions in their lines of credit or loans in the past four years and one in 10 had their line of credit or loan called early by their financial institution. This causes a number of financial strains for businesses, along with issues acquiring future funding. As a result, more and more businesses have turned to the various business credit cards that are available.

There are two primary differences in a traditional line of credit from a bank or other lending institution and alternative credit lines, such as business credit cards:

  • The method of calculating the monthly payment.
  • Banks review traditional credit lines every other year and can turn them into term loans if payments are not made on time, FICO scores have fallen or cash flow changes in the business

When you opt for a business credit card as your financing method, there are no financial reviews and there is never the possibility that the line of credit will turn into a term loan.

Now that you see the benefits of this option of financing, you may wonder how to find the right credit card for your small business. According to the SBA, there are six factors to consider when selecting a credit card:

  1. Fees and cost
  2. Available credit limits
  3. Annual percentage rate
  4. Rewards or perks
  5. Business credit reporting
  6. Business and personal credit separation

While all business needs are different and therefore the ‘right’ credit card will also differ, there are a few that have exceptional terms that most small businesses could benefit from. As a result, ServisTree has compiled a list of the best credit cards for small businesses.

Chase Ink Plus Business Card

Chase currently offers three business credit cards, each offering somewhat different benefits and rewards. While Chase Ink Plus is the only option that has an annual fee, it makes up for that with a number of additional benefits based on your business spending. If you spend over $25,000 each year on gas, hotel accommodations, internet, phone and office supplies then this card can be quite beneficial. The card also gives sign-up bonuses and does not charge a foreign transaction fee (most other business cards do).

SimplyCash from American Experess

Offering great cash back incentives, this card comes with the American Express logo and is accepted around the world. Also, there is no annual fee, which is rare for a business card. It is also feature rich, with a number of additional incentives such as travel accident insurance, baggage insurance plan and car rental damage and loss insurance, among others.

CitiBusiness AAdvantage World MasterCard

This card awards your purchases with a number of benefits including airline miles. Much like most of the other business cards, it rewards for purchases such as car rentals, telecommunication costs and office supplies.

If you are on the fence about what small business credit card is right for you, considering the options here will be helpful. Finding the right credit card for your business is essential, since it provides the working capital to keep your business going.

Having plenty of capital to work with is a challenge many businesses face. One solution is acquiring one of the small business credit cards here. Another solution for increasing cash flow into your business and minimizing the need for traditional bank loans is being able to accept credit cards for customer purchases. Not only will accepting credit cards increase the money you have to work with to grow your business, it provides for a better customer experience.

Let our team at ServisTree help you set up your credit card processing system to ensure the capital flows freely into your small business. You can learn more about the services we offer by visiting or calling us at 866-944-3244 to learn more!

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