As a startup founder, you know how critical it is to manage your finances effectively. One tool that can help you do this is a business credit card. Not only can it help you keep your personal and business expenses separate, but it can also provide you with rewards and perks that can save you money. In this article, we’ll take a look at the best business credit cards for startups in 2023.
American Express Blue Business Plus
The American Express Blue Business Plus is an excellent choice for startups looking for a credit card with no annual fee. This card offers a 0% APR on purchases and balance transfers for the first 12 months, making it an attractive option for those looking to make big purchases or consolidate debt. Additionally, you can earn 2x Membership Rewards points on the first $50,000 in purchases each year, making it easy to accumulate rewards that can be redeemed for travel, merchandise, or statement credits. The American Express credit card app also makes it easy to manage your expenses, view statements, and track rewards.
Chase Ink Business Preferred
The Chase Ink Business Preferred is a top pick for startups looking for credit cards with generous rewards. This card offers 3x points on the first $150,000 in combined purchases on travel, shipping, internet, cable, and phone services, and advertising purchases made with social media sites and search engines each year. You can redeem your points for cash back, travel, gift cards, and more. Additionally, the card offers travel and purchase protection benefits, such as trip cancellation insurance and purchase protection. The Chase credit card app also makes it easy to monitor your account, make payments, and track your rewards.
Capital One Spark Cash for Business
The Capital One Spark Cash for Business is an excellent choice for startups looking for a simple rewards program. This card offers an unlimited 2% cash back on all purchases, making it easy to earn rewards without worrying about spending categories or limits. Additionally, the card comes with a $500 cash bonus when you spend $4,500 on purchases within the first three months of account opening. The card also offers benefits such as purchase protection, extended warranty coverage, and travel assistance services. The Capital One credit card app allows you to monitor your account, set up alerts, and redeem your rewards.
Brex Corporate Card for Startups
The Brex Corporate Card for Startups is a unique credit card designed specifically for startups. Unlike other business credit cards, Brex doesn’t require a personal guarantee or a credit check. Instead, the card is based on your startup’s cash balance, funding, and spending patterns. This card offers an impressive 7x points on rideshares, 4x points on travel, 3x points on restaurants, 2x points on software subscriptions, and 1x points on all other purchases. You can redeem your points for travel, statement credits, and more. The Brex credit card app allows you to manage your card, track your expenses, and view your rewards.
CitiBusiness/Addvantage Platinum Select Mastercard
The CitiBusiness/Advantage Platinum Select Mastercard is an excellent choice for startups that frequently travel. This card offers 2x miles on eligible American Airlines purchases and 1x miles on all other purchases. Additionally, you can earn 50,000 AAdvantage bonus miles after spending $3,000 in purchases within the first three months of account opening. The card also offers travel benefits such as priority boarding, free checked bags, and preferred boarding on American Airlines flights. The Citi credit card app allows you to manage your account, view your statements, and track your rewards.
In conclusion, choosing the right business credit card can be a valuable tool for managing your startup’s finances, earning rewards, and accessing benefits that can save you money. While there are many credit card options available, the five cards mentioned in this article stand out for their rewards, benefits, and user-friendly credit card app interfaces. By considering your startup’s spending patterns and priorities, you can find the card that best fits your needs. With the right business credit card in hand, you can take advantage of perks such as travel rewards, cash back, and purchase protection, while keeping your personal and business expenses separate.