If you’re starting a business or own a small business, a business credit card for fair credit can help you improve your cash flow, buy the inventory and supplies you need, and get your feet off the ground. Unless you have already established a credit file for your business, you will need to apply for a business credit card in your name using your credit history. The good news is your business doesn’t need to be incorporated to apply for a business card; you can use your Social Security number or tax ID number even if you’re self-employed.
Here are some of the best rated business cards for fair and excellent credit.
Chase Ink Cash Business Card
The Chase Ink Cash Business card is one of the most popular business cards in the industry with generous cash back rewards designed for business owners. The Ink Cash card earns 5% cash back on office supplies, wireless service, landline service, Internet, and cable TV (on the first $25,000 per year); 2% back at restaurants and gas stations (on the first $25,000 per year); and 1% back on everything else. The card has no annual fee and you can get additional cards for employees or partners at no cost to earn maximum rewards. The card also includes a 0% intro APR on purchases and balance transfers for 12 months.
The Chase Ink Cash card is a great choice for cash back rewards on common business purchases and getting access to working capital, plus it includes a $300 cash back bonus once you spend $3,000 during the first three months. This card does require very good credit to qualify.
Capital One Spark Miles for Business
Want a business credit card that’s easy to qualify for but still earns great rewards? The Capital One Spark Miles Business card offers an unlimited 2 miles per $1 on all purchases that you can redeem for statement credits against travel expenses. While you can’t transfer your miles to loyalty programs or enjoy airline travel perks like free checked bags, the card offers a great compromise as you can book business travel through third-party discount sites and choose your own airlines and hotels to get the best deal, then get generous rewards on your spending.
The Capital One Spark Miles Business card is a great choice for business owners who travel frequently and want a solid rewards card. The card has a $59 annual fee (waived the first year) and you need fair credit to qualify. For a limited time, get 50,000 bonus points once you spend $4,500 during the first 3 months, which is equal to $500 in statement credits.
SimplyCash Plus Business Card from American Express
If you have great credit, you may qualify for the SimplyCash Plus Business Card from American Express, which boasts very generous rewards and a high sign-up bonus. The SimplyCash Plus card earns 5% back on wireless phone service and office supplies on up to $50,000 per year; 3% back on the category of your choice (from a list of eight) on up to $50,000 per year; and 1% back on everything else.
This card has no annual fee and one of the best signup bonuses in the industry. Earn a $250 statement credit once you spend $5,000 within the first 6 months and an additional $250 credit once you spend an additional $10,000 within the first year.
Bank of America Cash Rewards for Business Mastercard
The Bank of America Cash Rewards Business card offers generous rewards for business owners with average or better credit. This card earns 3% cash back on office supplies and gasoline, 2% back at restaurants, and 1% back on everything else. You can redeem rewards for a cash back statement credit or apply them to a Bank of America checking or savings account.
The card has no fee and comes with a $200 statement credit signup bonus once you spend just $500 during the first 60 days. You will also enjoy a 0% intro APR on purchases for the first 9 months.