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Best Business Credit Cards

Best Business Credit Cards


Hey I’m Adam Jusko from ProudMoney.com and in this video I am talking about the best business cards for small
business owners. Before I do that I’ll ask you to please subscribe to our
YouTube channel if you have not already and if you have I thank you for doing so.
So we’re going to talk about eight different cards here in the business
card category. We’re going to talk about three in particular and then another
five that maybe you’ll want to consider as well, based on your spending
patterns and your desire for a bonus upfront you may want… have a
different ranking than we would have. So we’re gonna include a number of
cards here but we’re going to kind of give our top three that we think most
people would probably want to jump on. Now what we’re not going to include are
business credit cards that are tied to airline programs or hotel programs or
anything of that nature, so no Southwest, no United or American cards, no Marriott — any of those kind of cards we’re not going to talk about here,
because if you already have an existing relationship with them, then you can make that decision on whether you want to continue that with your business
purchases. But for just the average business owner that maybe doesn’t have a relationship, doesn’t use those sort of things already, it doesn’t necessarily
make sense to bring those into the equation. So, again, if you already have
those relationships, you can look at those cards closer and decide if they
fit better for you. So the top three cards that we are going to talk about
here for small business owners… Number One is the American Express Simply Cash
Plus business card. This is a no annual fee card that gives you 5% cash back on your office supply purchases and wireless purchases, three percent
cash back on a category of your choice — those categories are things like airfare,
restaurants, and a lot of other categories both in travel and otherwise
that will make sense for a lot of small business owners — and then
you will get 1% cash back on everything else. Now there’s no bonus opportunity
here, so those cash back categories are where the goodies are in terms of
rewards on this card. Number Two is the Chase Ink Business
Preferred. This is a credit card that has a $95 annual fee. You’re gonna get three
points per dollar on travel, internet, cable, phone services, shipping, ads on
search engines and social media — so a lot of 3X categories there. You’ll get
one point per dollar on everything else that you spend with the card. Now if you
redeem these points through the Chase Ultimate Rewards program, each point will be worth 1.25 cents if you redeem for travel through Chase Ultimate
Rewards. If you redeem for something else through Chase Ultimate Rewards, it will
be the normal sort of “one penny for one point.” For example 10,000 points would
equal $100 if you’re redeeming not in travel. For travel,
those 10,000 points would equal $125 in travel. Now speaking of that, there is a huge bonus opportunity here: if you spend
$5000 with the card within the first three months of having
it, you’re going to get 80,000 bonus points, which again if you use
those in the Chase Ultimate Rewards situation and you redeem it for travel,
that is worth a $1000. So this is a $95 annual fee card that
is giving you a big opportunity to earn $1000 worth of travel
here right off the bat. And even if you don’t use it for travel, it’s still
giving you the opportunity to get essentially $800 worth of other rewards,
so that is a really nice bonus opportunity for business owners right
off the bat. Number Three is the Capital One Spark Cash Select card, a very
straightforward card, it gives you 1.5% cash back on all the purchases you make
with the card. There is also the possibility of getting a $200 bonus if you spend $3,000 in the first three months of having the card. So
those are sort of the three base cards that we’ll talk about. Now there’s
another five cards that I’m going to bring up that you can check out and
decide if they fit your spending patterns better. The number one… or the
next card I’ll talk about… is the other Capital One Spark Cash card and this is the card that gives you two percent cash back on
everything that you buy with the card. However it does have a ninety five
dollar annual fee, which is waived for the first year, but then you’ll have that
ninety-five dollars every year after that. So if you compare this to the
Capital One Spark Select Card that I just talked about, once that annual fee kicks in you basically have to be spending at least
twenty thousand dollars a year for this card to be better than the other Capital
One card. So keep that in mind — if you really put a lot on your cards, then this
is one that could make a lot of sense for you. If you don’t charge quite
that much on a business credit card, then the other one that’s giving you the
1.5% cash back will make more sense. Next card is the Lowe’s American Express
Business Card. Number one, it gives you 5% off all of your Lowe’s purchases, so if you’re a contractor or someone else that does business
very regularly with Lowe’s, this card is obviously going to make sense for you.
You can also earn other point rewards that will go towards more Lowe’s gift
cards or American Express gift cards so that’s kind of how that works.
Maybe not for every card user but again if you’re a contractor or somebody that has a reason to be at Lowe’s often then this is a business credit card that might
make sense for you. The next is the Ink Business Cash Card, the other card sort
of in the Ink family here from Chase. This one does not have an annual fee and
it has a very different structure than the Business Preferred card that I
talked about before. I’m not going to go into all the specifics but it has a
points program that is somewhat similar to the program that the American Express
Simply Cash Card has — you’ve got different cash back categories there that
you can use that are all kind of set up towards different business expense
categories that you would commonly have. The other piece there that might make it
more attractive than the American Express card that we talked about is
that you can also get a $500 bonus if you hit your spending caps there. Next card… the Bank of America Business Advantage
card gives you 3% on gas and office supply purchases, 2% on restaurants, and
1% on everything else. You can also get a two hundred dollar bonus if you spend
five hundred dollars with that card in the first 60 days of having it. So those
are a lot of different cards to consider. Think about how you spend in your
business, whether those upfront bonuses are very important to you, and you can
sort of decide which one of those makes sense. But those really are in our
opinion the best handful of small business credit cards that are on the
market today. So thanks for watching. Please go to ProudMoney.com for other
credit card reviews and best of lists and all sorts of other good stuff. Thanks
for watching. Bye.

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