Shrewd business owners are looking for business credit cards that provide cash back. This category of cards will typically give you a percentage of your spending back to you in rewards. On top of the ongoing rewards business owners can accrue for each dollar spent, many of these cash back cards offer upfront bonuses worth several hundred dollars.
Some business cards also offer you luxury perks and consumer protections that can help you protect your purchases while saving you money. This money can truly be “free” as long as you avoid paying interest on your purchases by paying your bill in full each month.
To find the best business credit cards that reward cash back, start with your firm’s needs and goals.
How to Choose a Cash-Back Rewards Card that’s Right for You
To leverage the most out of your cash-back card, you want to choose one that meshes well with your spending habits. Look over your books and assess the categories where you spend the most money (i.e., advertising, dining, or travel).
After you have done this, you’ll have a better idea of the business credit card that works with you. While performing this research, ask yourself:
How Much Travel Does My Business Require My Employees or Me to Do?
If you or your staff are traveling a lot, choose a cash back business card that doesn’t charge a foreign transaction fee and allows you to earn travel rewards. For example, you can earn 5X their Membership Rewards points on prepaid hotels and flights using the Business Platinum Card from American Express.
How Much Driving Does My Business Require?
Some business cards extend greater cash-back rewards for fueling up your work vehicles. This perk may help you offset purchases at gas stations when you turn your cash back into a statement credit.
A good choice for a business gas card is the U.S. Bank Business Chase Rewards World Elite Mastercard. It gives you 3% cash back on gasoline expenditures of $200 or less at any fueling station.
How Often Do I Host Clients at Restaurants?
If you are spending a good portion of your time wining and dining current and potential clients, consider a business card that offers extra rewards when you make restaurant purchases. The best restaurant cards give you points, miles, or cash back when you order from an eating establishment.
One of the top business cards for restaurant spending is the Capital One Savor Cash Rewards Credit Card. It rewards you with unlimited 4% cash back when it’s used for dining or entertainment purchases.
How Much Do I Spend on Shipping and Social Media Advertising?
If a lot of your budget goes toward business categories like shipping and advertising, consider a business card that lets you earn cash back on those purchases.
The Chase Ink Business Preferred Card will give you 3X points for every dollar up to $150,000 spent in combined purchases in categories including shipping, telecom, social media and search engine advertising, and travel.
Do I Make Many Credit Card Purchases on Office Supplies?
No matter your company’s size, you probably need office supply essentials to keep it running smoothly.
If you discover a good deal of your company’s budget is spent at office supply stores, using the right business credit card can earn your firm thousands of dollars in cash back every year.
The Chase Ink Business Cash Card is a first-rate choice for these purchases. You will get 5% cash back on the initial $25,000 spent at office supply stores each year.
Do I Have Difficulty Categorizing My Business Spending?
If you spend across several categories, your business has changing needs, or your firm is too new to know the categories it will use the most, a flat-rate cash-back card may be the best for you.
Alliant Cashback Visa Signature Credit Card will let you earn 2.5% cash back for every dollar with no spending categories to keep tabs on. It has a $99 annual fee which is waived the first year. However, you should note that you will need to join the Alliant Credit Union as part of the application process.
What If I Can’t Qualify for Cash-Back Business Card Benefits?
Many of the best business credit cards for cash back require good or excellent personal credit scores, which can range from 740-850. For many small businesses, especially ones that are just starting, achieving a high score like that may be too far out of reach.
To boost your score, FICO recommends consistently making payments on time, keeping low balances on revolving accounts, and not maxing out your credit.
Get Working Capital Today with the Revenued Business Card
If you need working capital today, the best business card to consider is not based on credit. The Revenued Card is an innovative financial tool tied to your sales revenue and banking activity. Receive a spending limit and only pay for what you use. Call +1 (877) 662-3489 to learn more and join our email list by filling out our online form.
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