Picked For You: Best Business Credit Cards For Good Credit

If you’re sitting with a credit score above 700, you could be missing out on some worthy credit card offers for your business. This means that you may not be maximizing your potential rewards, benefits, limits, or APR. Luckily, at Merchant Maverick, we have already done the heavy lifting and picked out the best business credit cards for a variety of business owners with good credit. You can take a peek at our selections below.

Best For Travel Rewards: Chase Ink Business Preferred

Chase Ink Business Preferred



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Annual Fee:


$95

 

Purchase APR:


17.74% – 22.74%, Variable

 

Why It’s Our Pick

Chase’s flagship business card, Ink Business Preferred, is the clear winner if you travel a lot. That’s because reward points are worth 25% more if redeemed for travel through Chase Ultimate Rewards. Additionally, points can be transferred to other travel programs on a 1:1 point basis, meaning you could eke out more than 1.25 cents per point. On top of all that, Chase also packs this card with no foreign transaction fees, a plus for those going overseas.

With bonus rewards for redemption on travel and 1:1 point transfers for travel programs, Chase Ink Business Preferred stands above other cards when it comes to travel rewards. Find out more with our in-depth review.

Best For No Annual Fee: Chase Ink Business Unlimited

Chase Ink Business Unlimited


chase ink business unlimited
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Annual Fee:


$0

 

Purchase APR:


14.99% – 20.99%, Variable

 

Why It’s Our Pick

Besides featuring that tantalizing no annual fee, Chase Ink Business Unlimited boasts a range of rewards and benefits that make it one attractive card. To start, this card offers an unlimited 1.5% cash back on all purchases, a generous reward scheme that stays simple. Additionally, its welcome offer hands over $500 cash back if you spend $3,000 on purchases in the first three months.

Beyond those rewards, Chase Ink Business Unlimited provides a 0% intro APR for the first 12 months, and you can add employee cards at no additional cost. Get Merchant Maverick’s full breakdown by reading our detailed review.

Best For High Limit: Capital One Spark Cash for Business

Capital One Spark Cash For Business


capital one spark cash select
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Annual Fee:


$95 ($0 the first year)

 

Purchase APR:


18.74, Variable

 

Why It’s Our Pick

While your credit limit ultimately depends on your credit score and business finances, Capital One Spark Cash for Business provides a range of rewards and benefits that make it appealing to those with excellent credit. Its base rewards program features an unlimited 2% cash back on all purchases. This very generous offer should catch the eye of most businesses looking at getting a new credit card. Of course, there is a $95 annual fee, but high spenders should be able to recoup that loss quickly.

This all comes with the caveat that you’ll be bringing excellent credit to the table; Capital One requires that you have had a loan or credit card for three-plus years with a credit limit in excess of $5,000 before getting a Spark Cash for Business card. For a deeper look at Capital One’s card, venture on over to Merchant Maverick’s full review.

Best For Low APR: American Express SimplyCash Plus

American Express SimplyCash Plus



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Annual Fee:


$0

 

Purchase APR:


13.99% – 20.99%, Variable

 

Why It’s Our Pick

Depending on your credit score, the American Express SimplyCash Plus card can get you a lower APR than industry standard. It posts a variable APR that currently sits at 13.99%, 18.99% or 20.99%. Of course, only those with excellent credit will be able to benefit from the lower ranges.

Beyond that potentially low APR, SimplyCash Plus features no annual fee and 0% intro APR for the first nine months. You can also get up to 5% cash back at office supply stores and on wireless telephone purchases, and 3% back on the purchase category of your choosing. If you want the full picture on SimplyCash Plus, head on over to our fully featured review.

Best For Cash Back: Chase Ink Business Cash

Chase Ink Business Cash



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Annual Fee:


$0

 

Purchase APR:


14.99% – 20.99%, Variable

 

Why It’s Our Pick

The Chase Ink Business Cash really holds its own when it comes to cash back rewards. This card offers 5% back on purchases at office supply stores and on internet, cable, and phone purchases up to a combined $25,000 in purchases each account anniversary year. There’s also a 2% back at gas stations and restaurants up to a combined $25,000 in purchases each account anniversary year. On top of those hefty rewards, there’s 1% cash back on all other purchases.

After hitting the cap in both the 5% and 2% tiers, you’ll drop down to 1% cash back in both. Maxing out both tiers will net you $1,750 back. Rewards can be redeemed via cash back, or through credits applied to Amazon purchases, gift cards, or travel. If you think that Chase Ink Business Cash is right for you but you want to learn more, head on over to Merchant Maverick’s detailed review.

Best For Balance Transfer: American Express Blue Business Plus

American Express Blue Business Plus



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Annual Fee:


$0

 

Purchase APR:


12.99% – 20.99%, Variable

 

Why It’s Our Pick

American Express’ Blue Business Plus features a 0% intro APR for 15 months on both purchases and balance transfers. In addition, the balance transfer fee sits at a low 3% or $3—whichever winds up higher—making this card attractive to businesses that need to transfer debt over to a new card.

It boasts a potentially lower-than-industry-standard variable APR once your 15 months of 0% APR are up. For rewards, it provides two points per $1 up to $50,000 spent, and then one point per $1 after you hit that cap. You can also take advantage of expanded buying power with Blue Business Plus, allowing you to purchase above your credit limit. Read up on further details with our in-depth review.

Frequently Asked Questions About Business Credit Cards

Should I Apply For More Than One Card At A Time?

While nothing is preventing you from applying for more than one card at a time, that doesn’t mean you should. Every time you apply for a credit card, you will receive a hard inquiry on your credit report. Multiple hard inquiries in a short space of time could negatively affect your credit score, at least temporarily. This is because credit score bureaus might think that you actually want multiple cards, something they see as a potential indicator to financial woes.

As a general rule of thumb, it’s usually best to not apply for multiple cards at once. Instead, take your time to find the right card for you. If the above cards don’t seem to fit your business, check out our small business credit card comparison for further tips on picking out which card best suits you.

How Long Does It Take To Be Approved With Good Credit?

How long it takes to be approved for a credit card depends on several factors, the biggest being how you apply. If you apply online or over the phone and you’re carrying that good credit score, you could be approved within a matter of seconds. Of course, should other hitches arise—such as your personal information being tagged as fraudulent—it may take longer to receive the credit card company’s decision.

If you mail in your application, a decision could take anywhere from seven to 10 business days no matter how good your credit score is.

Is There A “Best Time” To Apply For A Credit Card?

Generally, you’ll want to wait several months after you received a hard inquiry on your credit score. Hard inquiries can occur when you apply for credit cards, loans, housing, and other services. As I mentioned above, multiple hard inquiries in a short space of time could negatively affect your credit score, at least temporarily. Credit score bureaus might think that you actually want multiple cards, something they see as a potential indicator to financial woes.

You may also want to wait until you’ve been pre-approved for a card, a process that’s offered by many credit card issuers. Getting pre-approved for a card lets you know that you have solid chance to actually get approved without placing a hard inquiry on your account.

You might also decide to wait to apply for a credit card until your business needs to make a big purchase. That way you can get a card with a 0% introductory APR, allowing you to pay the purchase off over multiple months without worrying about racking up interest.

Does A Business Credit Card Affect My Personal Credit Score?

It depends. Almost all issuers check with consumer credit bureaus when applying for a business card. In some instances—if your account is frequently delinquent, for example—issuers may report your activity on a business account to consumer credit bureaus.

All told, as long as your keep your business account in good standing and you keep from slipping up, your personal credit score should be fine.

Final Thoughts

We hope you enjoyed reading through this breakdown of the best business credit cards for those with good credit. If nothing else, hopefully you learned a thing or two!

Check out our detailed list of the best business credit cards for 2018 to get an even deeper look at some awesome cards. If your credit score isn’t quite high enough for the above cards, we recommend you check out our ultimate guide to improving your business credit score. Or, if you decide you need to go the charge card route, we’ve got you covered on your best options.

The post Picked For You: Best Business Credit Cards For Good Credit appeared first on Merchant Maverick.

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