Being a business owner comes with strict disciplines, especially when it comes to money matters. Every penny you spend counts, allowing you to find an easier way to run your business without running out of money. This can entail loans from traditional banks or online lenders. Also, some might decide to get other means – like venture capital, grants, etc. – to continue to bring in money.
All of these require you to do some explaining, as well as some requirements. If you don’t want to go through the rigors of visiting traditional banks to secure loans or research potential investors, you should consider getting a business credit card. In fact, credit cards, like Sam’s Club Business Credit Cards, can be such a reward strategy in most of your business and, even, personal dealings.
The first step to finding the best for anything is to identify your needs. In this context, your needs correspond to what you want for your business: cashback, rewards or building credit. This will help you determine the best type of credit card for your business.
Below are a few types of business credit cards you can choose from.
Top 3 Best Credit Cards for Business Owners
1. Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card
This business credit card stands out for its excellent cash back rates of 2% on restaurant purchases. But that’s not all about the card as you also get a monthly bonus from six different business categories to choose from. Some types are gas stations, travel, telecommunications, wireless, etc. For each of these categories you choose, you get 3% cash back.
2. Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card
This business card offers business owners 1.5% cash back on every purchase. The process of obtaining this card is transparent and the rates are even more transparent. This is especially useful for users who already have accounts with Bank of America and Merrill Business, as each qualifying purchase can earn them up to 2.62% unlimited cashback.
Over a year, this can add something tangible, and given that this card charges no annual fee, it becomes even more valuable. And you can be sure that you don’t have to worry about your rewards expiring as long as your account is active.
The only problem is that if you don’t have a Bank of America or Merrill business account, you may be able to enter the Preferred Rewards club to enjoy all the benefits of this business credit card.
3. Sam’s Club business credit card
Well, you must be a member of Sam’s Club to sign up for this credit card. Sam’s Club is a retail club of Walmart Stores Inc, and it’s open to members only. To become a member, you can choose from these three plans; Sam’s Club, Sam’s Club Plus and Sam’s Business.
Once you are a member, you are open to all the benefits and rewards that come with getting the Sam’s Club business credit card, such as;
- Earn cashback with a Sam’s Club Business MasterCard
- Detailed monthly billing statements
As a member of Sam’s Club, you have five different business credit cards to choose from, and there are provisions for non-business owners as well.
Business credit cards offer a flexible and reliable way to meet your business financial needs without too much hassle. Loans from online and traditional banks are another option. Still, if you want financial help that not only gives you cash and rewards and perks, business credit cards are best.