Many different types of small business credit cards are available that specialize in different areas, such as customer service or purchasing (plus exclusive offers and discounts). The best choice depends on the needs of your business. For example, if you typically pay for office supplies in person but stay at hotels online, a hotel-specific travel card might not be right.

Here are the best small business credit cards.

Chase Ink Business Preferred

As the myFICO crew already told you, this is an excellent card to help your business grow with its Ultimate Rewards points. The 80,000-point signup bonus after spending $5,000 in three months easily offsets the $95 annual fee for years to come – especially when you realize it comes with a slew of great benefits like cell phone protection and 24/7 concierge service.

Capital One Spark Cash for Business

With unlimited 2% rewards on all purchases, no spending threshold to unlock the higher earnings rate, and no annual fee, there are plenty of reasons why so many people love their Capital One Spark Cash card. It’s even set up to automatically award your business with a new card as soon as your previous one is paid off – very cool.

American Express SimplyCash Plus Business Credit Card

The Amex SimplyCash Plus is a solid cash-back business credit card that can help you maximize your rewards no matter where you shop. This makes it a good choice for single business owners who prefer simplicity over flexibility. While its 5% cash-back isn’t the absolute highest among small business cards, it’s still competitive enough to make many top 10 lists anyway. With up to 1% foreign transaction fee and 0% intro APR on purchases and balance transfers for 15 months, this is another well-rounded card from American Express.

Chase Ink Cash Business Credit Card

This isn’t one of Chase’s most talked-about cards, but that’s not because it’s bad – just overshadowed. The 50,000 signup bonus after spending $3,000 in the first three months is hard to beat for this type of card. This doesn’t cover more exotic business expenses like cell phones, office supplies, utility bills, or contractor payments, but few cash-back cards do.

Capital One Spark Classic for Business

The Spark Classic is a nice mix of old and new with its classic rewards structure yet modern mobile app platform, which makes it great for small business owners who want simple cash-back earnings without worrying about rotating quarterly categories or keeping up with bonuses thresholds. It also has no foreign transaction fees if you plan to travel internationally.

Capital One Spark Cash Select for Business

As the name implies, this is a slightly less generous version of the standard Spark Cash card, but it’s still plenty rewarding and flexible enough to work in most small businesses. The only major difference between this and other top-tier cash-back business cards is that there’s no signup bonus – which isn’t all bad because you’ll get 2% back on every purchase right from day one instead.

Wells Fargo Cash Wise Visa Credit Card for Small Businesses

The signup bonus on this premium cash-back credit card can’t be beaten: earn $200 after spending just $1,000 in the first three months! On top of that, you also get 1.5% cashback on every purchase. The catch is that it’s only good for the first year, after which the rewards rate drops to 1%.

Capital One Spark Cash Select for Business

This is essentially the same card as the regular Spark Cash with one key difference: no bonus! Suppose you don’t plan on spending much in bonus categories like gas or restaurants, and you’re okay earning a little less cash back overall in exchange for not having to keep track of rotating quarterly category bonuses. In that case, this might be a better option for your business. Plus, there is no annual fee whatsoever.

Capital One Spark Miles Select For Business

If travel redemptions are more your speed, check out this version of the standard Spark Cash card with a twist – you can redeem your miles for travel statement credits at a rate of 1 cent per mile. This means you’re essentially earning 2% on everything, but it’s capped since there is no signup bonus and the usual threshold before earnings bump up to 2% is $1,000.

US Bank Business Edge Cash Rewards Visa Card

If you want simplicity without all the rotating categories to consider each quarter, check out this very straightforward cash-back credit card that earns an unlimited 3% on gas station and office supply store purchases, 2% at restaurants, and 1% everywhere else on up to $50k in spending per year (then 1%). There’s also no annual fee. However, if you don’t mind a little more thinking, there is a better choice.

In conclusion, if you’re looking for simplicity in your business spending, the US Bank Business Edge Cash Rewards credit card is worth considering. The 3% cash-back on gas station and office supply store purchases, 2% at restaurants, and 1% everywhere else (up to $50k per year) make this an attractive option for small businesses looking to maximize their rewards earnings without filling out complicated bonus categories or keeping track of rotating quarterly bonuses. Plus, there’s no annual fee!

However, suppose you don’t mind a little more thinking involved (and feeling like you’re missing out on better deals bypassing up bonus categories). In that case, the Capital One Spark Cash Select for Business is also worth checking out with its 2% cash-back on all purchases with no bonus category restrictions. This is a better choice for someone who wants the simplicity of a flat earnings rate without worrying about taking advantage of rotating categories.

The post Best Small Business Credit Cards appeared first on Fund Small Business.

If you want to use a credit cards to fund your business you can do so by paying some upfront fees. Now you need to decide between using 0% APR credit cards and cash advance on credit cards.

Can I Use Credit Cards to Fund Business? this is a question almost every business owner asks themselves when starting out in business. The answer to this question is yes, however there are usually certain conditions that have to be met before being able to successfully use credit cards to fund business.

There are multiple benefits of using credit card to fund your business. First, you can make transactions using your credit card and secondly, you can get an instant loan (credit limit) immediately if your business needs one. For instance, you need to buy raw materials for your product; however the supplier will only deliver after 60 days. In such a situation if you have access credit card you may pay in advance so that they supply the material when you need it.

Low Interest Rate: Another reason for using credit card is that when you are funding your business the interest rates are usually low when compared to loans. Loans can have interest rates of up to 14% but most credit cards charge between 10%-15% APR (Annual Percentage Rate). This can be a great way to fund your business especially if you do not want to go through the hectic process of getting a loan approved.

Managing Cash Flow When you are starting out your business: It is always advisable to keep track of cash flow. You need money to start with, so if credit card can help you get that money immediately it can be a great way to fund your business. In fact, you may even repay the money back in installments and hence, fund your business in a phased and controlled manner.

Repayment: When you use your credit cards to fund your business, the payments are made only when you have all the money. In fact, there may be a credit limit for your business and you can pay back as and For instance, if there is a need for an immediate cash injection in your business due to unforeseen circumstances, you can always opt for this option provided you have good credit history and you are not turned down.

It is important to compare the various credit cards available in the market before you apply for one so that you get one with the most competitive interest rates and also flexible repayment period. At times, you may be able to negotiate better terms by approaching your bank or credit card issuer directly since they want your business.

Nowadays, a number of options are available for making the repayment. You can set up a monthly installment plan or else you can pay it online easily from your home without any hassle. For those who prefer paying in cash or checks, there is an option to remit payment through electronic bank transfers as well.

In case you have unpaid bills on your credit card there may be some charges levied. Hence it is advised not to use up all the money in one go, you can always keep some for your business needs.

There are also some disadvantages of credit card funding your business; however they are negligible in comparison to the advantage. If you cannot repay the money due on your credit card, then it will have a negative impact on your credit history and it may be difficult to get a loan from banks or any other financial institutions in the future.

In case you have irregular business income, it may be difficult to make the repayment. If your business is regular and you can apply for a credit card with good credit history then you should go ahead and use the option of credit card funding for your business. In this way, it will help expand your business since you will get immediate access to funds.

Finally, if you are thinking of expanding your business through credit cards, remember that more money does not necessarily mean success. You need to have a sound business plan which you can execute successfully and make your business sustainable.

The post Can I Use Credit Cards to Fund Business? appeared first on Fund Small Business.