When running a small enterprise, knowing which business credit cards to use can help increase your purchasing prowess and manage your cash flow better. This article sorts out the three best business credit cards of 2024 according to rewards, low APR, and cash backs.
Firstly, for businesses looking to maximize earning potential through rewards, the American Express® Business Gold Card is unbeatable. It offers flexible reward points on the two categories where your business spends the most each billing cycle, from a list including advertising, airfare, gas, shipping, and technology purchases made directly from select providers. The reward points can be used for a variety of options, such as travel bookings, gift cards, or as a statement credit. The card also offers valuable expense management tools, making it easier to keep track of your spending.
When considering a credit card with a low annual percentage rate (APR), the U.S. Bank Business Platinum Card is hard to resist. It offers the lowest interest, attributed to its extended introductory 0% APR period on purchases and balance transfers for the first 20 billing cycles. After that, a competitive variable APR applies, dependent on your creditworthiness. This card is perfect for businesses planning to make long-term investments that might take time to pay off.
Finally, for cash backs, consider the Capital One® Spark® Cash for Business Card. It features an unlimited 2% cash back on all purchases. There's no need to track spending in specific categories, which simplifies the reward earning process. It also comes with added benefits such as free employee cards and a rewarding sign-up bonus.
However, before choosing a business credit card, it's crucial to analyze your business spending habits and plans for card usage. For instance, if your business spends a lot on travel, choosing a card offering travel rewards or travel insurance benefits might be more beneficial.
Additionally, do not forget to consider the annual fees, APRs, and potential penalty fees associated with the cards. Although these top three business credit cards of 2024 are top-notch, the best card for your business is the one that tailors to your needs and spending habits most effectively.
In conclusion, the American Express® Business Gold Card, the U.S. Bank Business Platinum Card, and the Capital One® Spark® Cash for Business Card are currently leading the business market for rewards, low APR, and cash back respectively. They cater to different needs efficiently, and discerning businesses will choose accordingly, considering how the features align with their current business model and future growth plans.