Getting your business a 0% APR introductory rate credit card could be helpful, especially if you’re planning to make a big purchase that you canât pay back right away. Unfortunately, credit cards are packed with complicated rules and regulations, and with so many options available, it can be time-consuming to figure out whatâs best for your business. A card that works well for Sammyâs Sandwich Shop down the street might not be the right option for you.
Thatâs where Merchant Maverick comes in! Weâve parsed through all your various options and come up with a list of the top 0% APR intro rate business credit cards. Besides offering that 0% APR introductory rate, these cards also provide savings via rewards and $0 annual fees, allowing you to stretch your dollar further.
So which one is right for you? Read on to find out!
American Express Blue Business Plus
This card leads the pack with a 0% APR introductory rate of 15 months. It also boasts a rewards program of two points per $1 on all purchases up to $50,000 per year, and one point per $1 on all purchases after $50,000. These points (which are worth $0.01 in many cases) can be redeemed via American Expressâ Membership Rewards program in numerous ways, including at checkout for major retailers, gift cards, taxi fare in New York City, and booking travel through American Express Travel.
This card’s variable APR after those 15 months are up can run lower than average. It also grants you expanded buying power, which allows you to spend above your credit level without penalty.
However, Blue Business Plus doesnât provide a welcome offer. Additionally, some redemptions dish out reward points at less than the standard $0.01. Rewards also start slowing down after spending $50,000 in a year, so this card might not be the best option if your business will break that threshold. International travelers should note that this card does carry a foreign transaction fee of 2.7%.
Want a full breakdown of Blue Business Plus? Check out Merchant Maverickâs comprehensive review to get the deets.
Chase Ink Business Unlimited
Ink Business Unlimited is a cash back card featuring a 0% APR intro rate for 12 months and no annual fee. Chase has set the cash back reward amount to 1.5% on all purchasesâno cap whatsoever. Those rewards can be redeemed via deposit into your bank account or applied on Amazon purchases. Additionally, Ink Business Unlimited also provides a hefty welcome offer of $500 cash back after you spend $3,000 on purchases in the first three months.
Other benefits include additional employee cards at no extra cost, as well as travel and roadside assistance. Chase also provides purchase protection to cover new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account. Once the 12 months of 0% APR run dry, this card offers a variable APR that sits right around industry standard.
Marks against this card include a 3% foreign transaction fee, meaning businesses that require overseas travel may want to think twice before dipping into Ink Business Unlimited.
If you need a further breakdown on Chaseâs Ink Business Unlimited, weâve got you covered with our comprehensive review.
American Express SimplyCash Plus
SimplyCash Plus is another cash back card, although its 0% intro APR runs for nine months. It does feature a hefty rewards program for certain categories, however. Purchases at U.S. office supply stores and on wireless telephone earn 5% percent cash back, up to $50,000 per year. Additionally, you can early 3% back on a category of your choosing (airfare, hotel rooms, car rentals, gas stations, restaurants, advertising purchases, shipping, or computer hardware, software, and cloud computing), up to $50,000 per year. All other purchases will nab 1% back.
American Expressâ SimplyCash Plus boasts a variable APR that can clock in at below industry standard. Additionally, its expanded buying power will let you buy above your credit limit with no penalty fees. Other benefits include extended warranty and purchase protection, as well as a range of travel benefits, from baggage insurance to a global assist hotline.
Unfortunately, rewards are redeemed through statement credit onlyâmeaning this card wonât work for those wanting to receive cash back as a check. Besides this, SimplyCash Plus doesnât provide a welcome offer and foreign purchases are subject to a 2.7% transaction fee.
Need more info on American Express SimplyCash Plus? Head on over to Merchant Maverickâs review.
Capital One Spark Cash Select For Business
This is the second card on our list that runs with a 0% APR for the first nine months. Its cash back rewards program features an unlimited 1.5% back on all purchases. Cash back rewards can be applied to your account as statement credits or requested as a check. Those rewards wonât expire while your account is open and can be transferred between Capital One cards.
You can additionally collect a tidy $200 early spend bonus if you spend at least $3,000 within your first three months of opening your accounts. Spark Cash Select further provides extended warranty and purchase protection, as well as access to Visa SavingsEdge, which may offer up to 15% off on some purchases from participating merchants. You can also get employee cards at no extra cost and Capital One chargesÂ no foreign transaction fees.
Drawbacks of the Spark Cash Select include a variable APR that may sit a tad higher than industry standard once those nine months of 0% APR are up. Additionally, the flat rate rewards program may not fit within your business if you spend a lot within categories that can earn higher cash back rates with other cards.
Those who want to dig into the nitty-gritty on Spark Cash Select should take a gander at our in-depth review.
Bank Of America Business Advantage Cash Rewards Mastercard
To round out our list of 0% APR introductory rate business credit cards, weâll look out our third entry with a 0% intro APR for nine months. This card boasts 3% cash back on purchases at gas stations and office supply stores, 2% back at restaurants, and 1% back for everything else. Youâll be able to redeem your cash rewards via a statement credit, check, or have cash deposited into a Bank of America checking or savings account.
Besides its reward program, this cardâs other benefits include travel and emergency services, zero liability protection on unauthorized purchases, and overdraft protection. Clients of BofAâs Business Advantage Relationship Rewards program can get a 25% – 75% rewards bonus on the base cash back rate. This means you could earn up to 3.75% at gas stations and office supply stores, 2.75% at restaurants, and 1.75% everywhere else. Thereâs additionally a $200 statement credit bonus after spending $500 on purchases in the first 60 days.
On the negative side, thereâs a $250,000 purchase cap for the 3% cash back categories, after which youâll earn 1% back. Also, for businesses that require international travel, BofAâs card does carry a 3% foreign transaction fee.
Want to learn more about BofAâs Business Advantage Cash Rewards Mastercard? Visit the Merchant Maverick review of the card.
That ends our look at five of the top 0% APR introductory rate business credit cards! Still canât decide on the best option for your business? Check out our small business credit comparison page to compare some of our favorite credit cards and learn more about picking the best card for you.
The post Top 0% APR Introductory Rate Business Credit Cards appeared first on Merchant Maverick.