The Top Traits to Look for when Selecting a Business Credit Card

person's sharing credit card

If you’re a business owner, you know that a good credit card can be a valuable tool for managing business expenses. But with so many cards on the market, it can be hard to know which one is right for your business. To help you make the best choice, we’ve compiled a list of the top traits to look for when selecting a business credit card. Keep reading to learn more.

Business Credit Cards

Forbes Advisor analyzed over 100 business credit cards to find the best cards. They looked at factors such as APR, rewards, sign-up bonuses, and more. Here are some of their top picks. The Chase Ink Plus has no annual fee and offers 5x points on office supplies and telecommunications expenses, 2x points on gas and dining out, and 1x points on all other purchases. There’s also a 60,000-point sign-up bonus (worth $600) after spending $5,000 in the first 3 months.

If you frequently fly Delta Airlines, then the Delta SkyMiles Gold American Express Card could be a good option for you. It offers 30k bonus miles after spending just $1,000 in 3 months (plus an additional 10k miles if you add an authorized user), plus 2x miles on Delta purchases and 1x mile on everything else. There’s no annual fee during the first year ($95 thereafter).

There are a few key things to keep in mind when looking for a credit card for your business. The first is the annual percentage rate (APR). You want to make sure it’s low, as credit cards often come with high-interest rates. Secondly, make sure the rewards are relevant to your business. If you travel a lot for work, for example, find a card that offers bonus points for airfare. Finally, be sure to read the fine print and understand all of the terms and conditions before signing up.

Compare Annual Fees

man hand holding Platinum Credit Card

When comparing annual fees, it’s important to consider the value of the card. Some cards have a high annual fee but come with a lot of perks and benefits that can easily offset the cost. Other cards have a lower annual fee but may not offer as many benefits. When looking at the annual fees, it’s important to consider what you will be using the card for. If you plan on using the card for business expenses, then you’ll want to look for a card that offers cash back or points rewards. It’s also important to make sure that the credit card issuer is reputable and has a good customer service reputation. You don’t want to be stuck with a high annual fee and no way to get help if something goes wrong with your account.

Consider Added Benefits

When considering a business card, it’s important to look for one that offers added benefits beyond just standard features like spending limits and rewards. The top traits to look for include:

  • Added security features. Look for a card that comes with added security features like fraud protection or EMV technology. This can help protect your company in the event of fraudulent charges or identity theft.
  • Easy account management. Choose a card that offers easy online account management so you can easily track your spending and payments.
  • Flexible rewards. Select a card that offers flexible rewards so you can redeem your points for the things your company needs most, such as travel miles, gift cards, or cash back.
  • Low-interest rates. Opt for a card with low-interest rates to help keep your costs down when you need to carry a balance from month to month.

Conclusion

When selecting a card, it is important to look for cards that offer a variety of benefits, such as rewards, low-interest rates, and 0% APR introductory periods. Cards that offer these benefits can be helpful in managing business expenses and improving your bottom line.


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