Small Business Brief

Financial Services

A List of the Best Business Credit Cards for New Businesses

The number of small businesses has been steadily growing given how well the economy is doing. In 2018, the SBA estimated that just over 30 million small businesses were operating in the United States.

Today, that number is much larger.

It’s true that, given how much customers are spending today, a small business owner is capable of making more than ever. What’s also true is that launching a successful business is far from a piece of cake.

One of the biggest barriers to getting your company off the ground is funding.

To help get your dreams the financial backing that they require, here are some business credit cards for new business favorites that’ll enable you to buy what you need to start turning a profit.

1. U.S. Bank Business Platinum Card

Sometimes you don’t need a card with all of the bells and the whistles. Sometimes, you just need a credit card with solid customer service and a great interest rate.

That’s exactly why we’ve added the U.S. Bank Platinum Card on our business credit cards for new business recommendations.

U.S. Bank’s flagship business card features an APR that’s as low as 12.24% and has no interest for 20 billing cycles.

2. Chase Ink Business Preferred

The Chase Ink Business Preferred card is one of the best cards for business that you can get in the United States. Unfortunately, it’s not available in Canada yet but there are a number of similar cards that you can get a detailed run-down on if you’re tuning in from the north.

What makes this Chase card so special? Its perks!

For starters, this card will give you over $1000.00 in travel credit if you spend $6000.00 within the first 3 months of opening it.

Furthermore, it’s backed by Chase’s Ultimate Rewards program which is the most valuable rewards system in all of the credit card market.

3. Business Platinum Card From American Express

If you travel a lot for business, the Business Platinum Card from Amex should be in your wallet. It offers an industry-leading 3% cashback on all travel purchases made through its website. It also offers 1.5% cashback on everything else.

There is one big set-back with this card and that’s its steep, $595 per month annual fee.

If you spend a lot of money on travel, you’ll earn that back. If you don’t, this card doesn’t make much sense as a business owner.

4. Wells Fargo Secured Credit Card

Some people that are launching new companies don’t have the credit score that they need to get the cards that we’ve suggested thus far. For those people, the best place to start is by getting a secured credit card from Wells Fargo.

Secured credit cards essentially have you deposit money into your account and borrow it back from yourself.

If you can prove that you can manage your balance well over the course of a few months, Wells Fargo will bump you up to a non-secured card.

Wrapping up Business Credit Cards for New Business

If you’re launching a new company, having access to business credit cards for new business is a must so you can get the funding that you need.

We hope that our list of cards above have helped you to shape your credit card search and we invite you to read more of the content on our blog if you need additional tips.