With owning a business, comes expenses. Real estate expenses, marketing expenses, technology expenses…they all add up and it’s crucial for accounting and tax purposes that you keep track of them. Having a business credit card can be a smart choice when it comes to tracking business expenses. However, not all business credit cards are created equal and every business owner must be responsible and accountable for every charge that is made.
Jonathan Roisman, a NextAdvisor.com content manager and contributing writer for the Baltimore Business Journal, shared 3 business credit card options to consider.
Best overall business card: Ink Cash Business Card
- Zero-percent introductory APR on purchases for 12 months.
- Five percent cash back on up to $25,000 per year worth of charges on office supplies, cable, Internet, and telecom services. In addition, you get two percent cash back on up to $25,000 worth of dining and purchases and one percent on everything else (with no limit).
- $200 cash back bonus when you spend $3,000 within the first three months of opening the account, there’s no annual fee, and you can get cards for employees for free.
Best business credit card for earning travel rewards: The Blue for Business Credit Card from American Express OPEN
- Two points for every dollar spent when booking travel through American Express and one point for every dollar spent on everything else with no annual limit.
- Annual relationship bonus which allows you to earn an additional 30 percent worth of points on eligible purchases made each year.
- No annual fee.
Best business cash back on all purchases: Capital One Spark Cash for Business
- Highest rates on all purchases of any business credit card. With this card, you’ll earn two percent cash back on all purchases with no rewards limit.
- When you spend $5,000 within the first three months of account opening, you’ll get an introductory $250 cash back bonus and an additional $50 cash back when you sign up for one or more employee cards.
- No annual fee the first year ($59 starting the second year) and there are no foreign transaction fees.
When owning your own business, you must make smart financial decisions to ensure the stability and growth of your company. Before you consider opening a line of credit, give your business the solid foundation it needs by providing a support team, prestigious business address, designated executive office space, and professional meeting space. My Annapolis Office is here to give you just that. We are the ideal, affordable workspace solution for your business. Customize your package to fit your needs and the needs of your growing business. Let My Annapolis Office provide the place, space, and support you need to succeed. Then build upon that foundation by educating yourself on the best ways to manage business related expenses…and gain a few perks as well.
Visit us on the web at www.MyAnnapolisOffice.com or contact us at (410) 656-1600 to learn more.
Source: Baltimore Business Journal