Running a business can be expensive. Depending on the nature of operations and size of the business, you may have high costing on vital business supplies, including equipment, office supplies, breaktime products, and other necessities to add on your head. The simplest solution is to ensure that your credit card be the reward card.

Business credit cards are not only useful tools for savings and smart purchases but also for getting extra reward features. Business credit cards can get you rewards on flights, hotel stays, cash back, and other valuable discounts on every purchase you make for your business.

Best business credit cards offer introductory rewards with cashback upto $500, and introductory APRs (Annual Percentage Rates) at 0% on balance transfer and purchases for upto 10 or 15 billing period. 

Generally, owners can receive cashback as a bank deposit or credit, which is considered to have high redemption value over different redemption choices. Cash back is usually worth 1% per reward point, and while redeeming, it may have worth less than 1 cent on every point. 

Working of Cash Back Business Credit Card

Business cashback credit cards allow entrepreneurs to redeem the collective rewards for deposits, credits in their respective accounts. Most cards also allow users to redeem rewards in the form of cashback for merchandise, travel rewards, and gift card vouchers. The cashback can be anywhere between 1% to 5% per dollar you spend.

The cash back also depends on the bank’s reward program and the purchase of goods and services. After analyzing various credit cards reports on for 2019, here are three best 2% cash back business credit cards from small business owners:

1. Capital One Spark Cash for Business: 

Features: 2% Cash Back along with Introductory Bonus of $500

Intro APR: NA

Intro Balance Transfers APR: NA

Credit Needed: Good, Excellent

Regular APR: 18.74% (Variable)

Foreign transaction fee: NA

Capital One Spark Cash for Business is a small business credit card that works best for companies wanting to receive 2% cashback on their business spending. Businesses with different types of spending requirements and who do not need to track categorized bonuses can opt for this credit card.

Additional Features:

  • Unlimited 2% cashback on every business purchase across the world
  • Zero dollars annual fee during the first year followed with $95 from next year
  • One time cash bonus of $500 on spending $4500 on business purchases within three months of account opening.
  • Zero dollar fraud liability in case card loss or gets stolen
  • Rewards stay active as long as the account stays active, and redemption is available anytime.

What’s Good: The card offers unlimited flat 2% cash back and this simple program is ideal for small business entrepreneurs who need a card for all types of purchases without having to worry about the bonus category. Beside the sign-on bonus of $500 can be taken as additional help. Owners can also boost their reward programs earning potential by getting employee cards.

Watch out: A big surprise in annual feel after the first year is one downfall point of this credit card as you pay an annual fee of $95.

How to use it: Planning a work trip overseas, take this card as it has no transaction fee on foreign usage and offers some travel protection.

2. American Express® Blue Business Cash Card

Features: 2% Cash Back 

Intro APR: 0% introductory APR  

Intro Balance Transfers APR: NA

Credit Needed: Good, Excellent

Regular APR: 14.99%–20.99%

Foreign transaction fee: 2.7%.

The American Express Blue Business Cash Card is another small business-friendly cash back business card that offers 2% cashback on all your purchases. With 0% intro APR, this card has one of the longest introductory APR periods in the market. For the business owners whose plans are constantly changing from inventory to workflow, here’s a card that goes beyond your credit limit with more buying power.

Additional Features:

  • 2% cashback up to $50,000 on all the eligible business purchases, after that 1%
  • $0 annual fee is a great plus point
  • 0% introductory APR on balance transfers and purchases for one year

What’s Good: A simple business credit card with no annual fee is a solid plus point of this card. Cashback is automatically transferred to your account. The credit card also allows you to buy on top of your credit limit (depending on different factors such as payment history, credit record) and receive cashback offers on those purchases as well without any over-limit fees. 

Watch Out: The card has an annual spending limit if $50000 for getting 2% cash back. Also, with no welcome offer, the business owners may be excited about this credit card.

How to use it: Planning a work trip overseas, take this card as it has no transaction fee on foreign usage and offers some travel protection.

How to use it: Business owners can use this card to get high cashback rates upto the purchase of $50,000. The card also offers cashback on free employee cards for their purchases. 

3. Ink Business Cash Credit Card

Features: 1%, 2%, and 5% cash back offers on different purchase categories

Intro APR: 0% for12 months

Intro Balance Transfers APR: NA

Credit Needed: Good, Excellent

Regular APR: 15.24% – 21.24% Variable

Foreign transaction fee: 3%

Ink Business Cash Credit Card by Chase is a great choice for small business owners from every industry, providing cash-back offers of 1%, 2%, and 5% at various business supply stores, phone services, internet on purchases up to $25,000 combined together. The card is easily attainable with the minimum purchase requirement for most businesses.

Additional Features:

  • 1% cash back on all types of purchases without any limit to earning amount. 
  • 2% cash back on your first $25,000 spent at restaurants and gas stations as a combined purchase. 
  • 5% cash back on various office supplies and phone and internet services as a combined purchase.
  • 0% intro APR for the first month
  • No cost employee cards with 
  • No annual fees

What’s Good: The card offers two awesome reward programs with an introductory APR deal. For all starters, zero per cent intro APR on balance transfer and purchases for the first year followed with variable APR between 15.24% – 21.24% is great in case of a large purchase. For paying business debts, business owners can use this card within 12 months period. As a promotional offer, earn cash back bonus of $500 on the purchase of $3000 within three months of opening the account. 

Watch Out: There is a 3% transaction fee when used in foreign countries, which makes it a poor choice for work trips abroad. For balance transfer from your other card, you are charged 5% transfer fee. There are no major advantages in case your most business purchases are not within the defined bonus categories.

How to use it: Boost your cash back rewards with free employee cards and easy reimbursement requests process when your employees use the card. Setting specific spending limits on employee credit cards can keep them within the budget.

Summary

If you are a small business owner who is looking for simple credit cards with no frills, these cash back cards can fit the bills. Consider your needs and expenses as well as your personal requirements before settling for the final choice. As a business owner, there are abundant choices, but one with welcome rewards and saving plans to reduce your burden at the start of your business is a good choice.

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