Entrepreneurs

Best Small Business Credit Cards with No Annual Fee

Credit card companies for personal or business use often charge an annual fee. The annual fee an range from $99 to several hundred dollars.

Should you pay an annual fee? No.

You can weigh the cost of the fee against the rewards and other perks offered by the company. But you’d be better off finding a card with no annual fee. The no annual fee cards have perks and rewards as good as, or better, than the cards with annual fees.



What is a Credit Card with No Annual Fee?

Upon account opening, you can use the card for a year without paying an annual fee.

There are two small print kind of things that you need to know:

On the account anniversary year, you’ll begin to be charged an annual fee.

If you miss a payment or payments (the terms vary), the card company will begin to charge you an APR.

Why You Should Consider a Business Credit Card with No Annual Fee

Before you get a business you should ask what are business credit cards and why should I get a business credit card. With those answers in hand, take a look at why a no annual fee business credit card is a good option.

  1. Do the math. A yearly fee increases the cost of using the card.
  2. You’ll be saving the cost of a yearly fee, which can range from $99 to $300.
  3. You won’t have to worry about calculations – do the rewards and perks override the fee? Does the card save more than it costs?
  4. Like cards with fees, the no fee cards also have welcome offers, rewards and other perks such as a percentage of cash back.
  5. You can use the card for business expenses such as utilities and phone services to earn more perks on combined purchases.
  6. You can make purchase and balance transfers from other cards to your new card.
  7. You don’t need to make a security deposit as a personal guarantee to get a card (but that doesn’t mean you’ll have zero liability if the bill isn’t paid).
  8. With a good history of payments, you’ll get a card upgrade. A business platinum card makes a statement of financial responsibility.
  9. The majority have no or low foreign transaction fees.
  10. You’ll get real time fraud monitoring.

Here are our choices for the best of the business cards. No matter what your financial resources are, these small business credit cards will give you expanded buying power, fraud protection, purchase protection and more.

8 Best Business Credit Cards: No Annual Fee Business Card

What’s the best no-annual-fee business credit card? Choose the one that’s the best fit for how your business spends. There are many different types of credit cards and you have options, so take your time.

At account opening, some introductory credit limits are stated. Some are set based on the financial information you provide and your credit record.

In either case, the spending limit will adjust as you make card transactions as part of your business spending on credit cards and pay your bill on time. The new limit will show on your statement.

1. American Express Blue Business Plus Credit Card

  • Regular APR: 13.24 to 19.24% variable.
  • Credit Limits: Assigned on account opening.
  • Credit Needed: Good.

Benefits: You can earn a $500 statement credit in the first 6 months by spending and making the payments on $5,000 with Blue Business Plus Credit Card from American Express You can earn 15,000 in rewards points after spending and making the payments on $3,000 in eligible purchases in the first 3 months. You can get an account owner’s card plus employee cards. You can set individual spending limits on the employees’ cards.

2. Chase Ink Business Unlimited Credit Card

  • Regular APR: 13.24 to 19.24% variable
  • Credit Limits: Starts at $3,000 and can adjust up to $25,000.
  • Credit Needed: Good.

Benefits: With Chase Ink Business Unlimited Credit Card you can get $750 in Ink business cash credit rewards after spending and making payments on $7,500 in the first 3 months. Free employee cards. You’ll earn 1.5% cash back on every dollar spent. After a year (with good payment history) you’ll get an introductory 0% apr as part of Chase ultimate rewards. The 0 introductory apr is only offered if you have a stellar payment record.

3. American Express Blue Business Cash Card

  • Regular APR: 13.24 to 19.24%
  • Credit Limits: Preset according to your resources and adjusts up with good payment record.
  • Credit Needed: Good.

Benefits: Same as American Express Blue Business Plus credit card (listed above), but with Blue Business Cash Card card from American Express, you’ll get 2% cash back on all eligible net purchases annually, up to $50,000.

4. Spark 1.5% Cash Select

  • Regular APR: 13.24 to 19.24%
  • Credit Limits: Starts with $2,000 and can adjust as you make purchases and pay the bill.
  • Credit Needed: Fair credit.

Benefits: With Spark Cash Select 1.5% Cash Select you can choose the 0% intro apr on purchases or choose a $500 sign up bonus. In addition to the sign up bonus you’ll get an unlimited 1.5% cash back on everyday business purchases. Capital One spark cash has no foreign transaction fee.

5. Capital One Club Business Credit Card

  • Regular APR: 15.24 to 26.99%
  • Credit Limits: Minimum $10,000.
  • Credit Needed: Good.

Benefits: Every $1.5 dollars spent on Capital One Club Business Credit Card equals one point. Rewards begin at 10,000 points. Points can be used as cash rewards (applied to bill). You’ll get 5% back in club points for purchases at Cabela’s or Bass Pro Shoppes, and 1.5% cash back for all other purchases.

6. Discover IT Business Card

  • Regular APR: 11.99% introductory APR to 22.99%
  • Credit Limit: $500 then based on credit worthiness.
  • Credit Needed: Fair.

Benefits: With Discover IT Business Credit Card you’ll get 5% cash back on all Amazon purchases and 1.5% cash back on other eligible purchases. You’ll also get the 5% cash back on purchases at gas stations and when you choose the Discover Card when choosing payment options while using Pay Pal. You can customize spending limits on your 50 free cards for employees. At the end of the year, Discover IT will do annual fee redeem rewards by matching your cash back rewards. In other words, if you earned $600 cash back you’ll get another $600 cash back.

7. Amazon Business Prime Credit Card

If you shop at Amazon frequently, you’ll really love the cash back percentage for the Amazon Business Prime Card.

  • Annual Fee: $0
  • Regular APR: 14.24 to 22.24%

Benefits: 5% Back or 90 Day Terms on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market. Earn 5% back on the first $120,000 in purchases each calendar year with eligible Prime Membership, 1% back thereafter. 2% back on U.S. purchases at restaurants, gas stations and wireless phone services purchased directly from service providers. 1% back on all other eligible purchases.

8. Delta SkyMiles Gold Card

  • Regular APR: 15.74 to 24.74%
  • Credit Limits: Start at $5,000 and adjust up.
  • Credit Needed: Good.

Benefits: With Delta SkyMiles Gold Card you get 50,000 bonus miles in flat rate rewards and a $50 statement credit after spending and paying $2,000 in 3 months. Double miles with Delta. Double miles credits from shipping costs and restaurant tabs make this a great business cash credit card.

Image: Depositphotos



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