There are a lot of business credit cards out there, but not all of them are created equal. If you’re looking for the best business credit card for your LLC, you’ll want to consider a few key factors. In this blog post, we’ll share the best business credit cards for LLCs, based on our research.
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Why You Should Use a Business Credit Card for Your LLC
As a small business owner, you may be looking for the best business credit card for your LLC. There are a few things you should consider when choosing a card, such as the APR, annual fee, and rewards. You’ll also want to make sure the card is accepted by businesses in your industry. In this article, we’ll take a look at the best business credit cards for LLCs and how to choose the right one for your needs.
What is an LLC?
An LLC, or limited liability company, is a business structure that provides the limited liability of a corporation with the flexibility of a partnership. An LLC is composed of one or more members, who can be individuals, other businesses, or a combination of the two. Similar to shareholders in a corporation, LLC members are not personally liable for the debts and liabilities of the business.
LLCs are popular among small businesses because they offer protection from personal liability in the case of business debts or lawsuits. LLCs also offer flexibility in how the business is structured and taxed. For example, an LLC can be taxed as an S corporation, which means that the LLC’s income is passed through to its members and taxed at their individual tax rates.
If you’re thinking about starting an LLC, you may be wondering whether you should use a business credit card for your business expenses. The short answer is yes! Business credit cards can be a great way to finance your LLC’s start-up costs and ongoing expenses. Here are some of the best business credit cards for LLCs:
1. The Blue Business℠ Plus Credit Card from American Express offers 0% APR on purchases for the first 12 months (then 13.24% – 19.24% variable APR). There’s no annual fee and you’ll earn 2X points on American Express travel purchases made on your card.
2. The Capital One® Spark® Cash for Business offers 0% intro APR on purchases for nine months (then 15.49% – 20.49% variable APR), and there’s no annual fee. You’ll earn 2% cash back on every purchase made with your card, including travel expenses.
3. The Ink Business Preferred℠ Credit Card from Chase offers 0% intro APR on purchases and balance transfers for 12 months (then 16.49% – 23.49% variable APR). There’s an annual fee of $95, but you can earn 3x points on popular business categories such as travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and more.
The Benefits of Using a Business Credit Card for Your LLC
There are many benefits of using a business credit card for your LLC. Perhaps the most obvious benefit is that it can help you keep your personal and business expenses separate. This can be helpful come tax time or if you ever need to provide documentation to a lender or landlord.
Another benefit of using a business credit card is that it can help you build business credit. This can be helpful if you ever need to take out a loan or lease space for your business. By using a business credit card and paying your bills on time, you can build a good credit history for your LLC.
Moreover, many business credit cards offer rewards programs that can be beneficial for your LLC. For example, some cards offer cash back on purchases, while others offer points that can be redeemed for travel or other perks. There are even some cards that offer special financing terms on purchases made with the card. Ultimately, the best business credit card for your LLC will depend on your specific needs and spending habits.
The Best Business Credit Cards for LLCs
Business credit cards are a great way to help manage your business expenses and can even earn you rewards like cash back or points. But with so many business credit cards on the market, it can be hard to know which one is right for your LLC. In this article, we’ll break down the best business credit cards for LLCs, so you can find the right card for your business needs.
The Capital One® Spark® Cash for Business
This Capital One business credit card is ideal for LLCs that want unlimited cash back on everyday business expenses. With the Capital One Spark Cash for Business, you’ll earn an unlimited 2% cash back on every purchase, with no limits or categories to worry about. There’s also a $500 bonus offer for new cardholders who spend $4,500 on purchases within the first 3 months of opening their account.
One thing to keep in mind with this card is that it has a $95 annual fee (waived the first year), so it’s best for businesses that can afford to pay an annual fee and will take advantage of the unlimited cash back rewards.
The Ink Business Preferred℠ Credit Card
The Ink Business Preferred℠ Credit Card is a great choice for small business owners looking for a business credit card with generous rewards and no annual fee. This card offers 3x points on travel and business expenses, and 1x points on all other purchases. You can redeem your points for cash back, gift cards, travel, and more. There is also a sign-up bonus of 80,000 points after you spend $5,000 in the first 3 months.
The Blue Business℠ Plus Credit Card from American Express
The Blue Business℠ Plus Credit Card from American Express is a great choice for business owners who want to earn rewards on their business expenses. This card offers 2x points on all purchases, with no limit to the amount of points you can earn. You can also get a 0% intro APR on purchases and balance transfers for the first 12 months, making it a great option for businesses that need to finance large purchases.
The Business Platinum® Card from American Express
If you’re a business owner, the Business Platinum® Card from American Express can be a valuable addition to your wallet. With its many perks and rewards, it can help you save money and earn rewards on your business expenses.
The Business Platinum® Card from American Express is a charge card, which means you will need to pay your balance in full each month. However, you will not be charged interest on your purchases. You will also enjoy a 0% introductory APR on purchases and balance transfers for the first 15 months of card membership.
Cardholders can earn 5 points per dollar spent on airfare booked directly with airlines or through American Express Travel, as well as on prepaid hotels booked through amextravel.com. You will also earn 1 point per dollar spent on all other purchases. There is no limit to the amount of points you can earn and your points will not expire as long as you remain an active cardmember.
The Business Platinum® Card from American Express comes with a host of benefits, including access to more than 1,200 airport lounges worldwide via the American Express Global Lounge CollectionSM, complimentary Boingo Wi-Fi at over 1 million hotspots worldwide, up to $200 in annual statement credits for airline incidental fees such as checked baggage fees or in-flight refreshments, and up to $100 in annual statement credits for Global Entry or TSA Pre✓® fees.
There is an annual fee of $450 for this card, which is higher than average for business credit cards. However, when you consider all of the benefits and rewards this card offers, it can easily pay for itself many times over.
How to Choose the Best Business Credit Card for Your LLC
If you’re a limited liability company (LLC), the best business credit card for you will depend on the type of business you run and how you spend your money. For example, if you’re a small business owner who frequently travels for work, you’ll want a business credit card with rewards that can be used for business expenses like airfare and hotels. Alternatively, if you run a home-based business, you may want a business credit card with a low interest rate so you can finance purchases over time. In this article, we’ll provide an overview of the best business credit cards for LLCs and how to choose the right card for your business.
Consider the Rewards
When you’re choosing a business credit card for your LLC, it’s important to consider the rewards that each card offers. There are a few different types of rewards programs, and the best one for you will depend on your business spending habits.
Cash back programs are the most straightforward: you earn a certain percentage of cash back on every purchase you make. This can be a great way to save money on everyday business expenses.
Some cards offer points or miles that can be redeemed for travel expenses, which can be a good choice for businesses that have a lot of employees who travel for work. If your business spends a lot of money on advertising or marketing, look for a card that offers rewards specifically for those expenses.
There are also cards that offer general rewards that can be redeemed for various purposes, such as gift cards or merchandise. These can be a good option if you want flexibility in how you use your rewards.
No matter what type of Rewards program you choose, make sure you compare the different offers and choose the one that will give you the most value based on your spending habits.
Consider the Interest Rates
When you’re looking for the best business credit card for your LLC, one of the things you’ll want to pay attention to is the interest rate. Interest rates can vary significantly from one card to another, so it’s important to find a card with a rate that you’re comfortable with.
Of course, the interest rate is only one factor to consider when choosing a business credit card. You’ll also want to look at things like the annual fee, the late payment fee, and the grace period. But if you’re trying to thihk about which card is going to save you the most money in the long run, the interest rate is definitely something you should take into account.
Consider the Fees
When you’re choosing a business credit card for your LLC, it’s important to consider the fees associated with the card. Annual fees, foreign transaction fees, and balance transfer fees can all add up, so be sure to read the fine print before you apply.
annual fee: This is a fee charged every year just for having the card. It’s important to weigh this fee against the benefits of the card to see if it’s worth it.
foreign transaction fee: If you plan on using your business credit card while traveling outside of the United States, you’ll want to make sure that the card doesn’t have a foreign transaction fee. This fee is usually around 3%, so it can add up quickly if you use your card frequently while traveling.
balance transfer fee: Some business credit cards offer 0% APR on balance transfers for a promotional period of time. If you decide to take advantage of this offer, you will likely be charged a balance transfer fee. This fee is usually around 3-5% of the amount being transferred, so be sure to factor it into your decision.
How to Use Your Business Credit Card for Your LLC
If you’re a business owner, you know that one of the most important things you can do for your business is to establish and maintain good credit. This is true whether you’re a sole proprietor, LLC, or a corporation. One of the most effective ways to do this is to use a business credit card for your LLC.
Use it for Business Expenses Only
If you have a business credit card for your LLC, it’s important to only use it for business expenses. This will help you keep track of your spending and ensure that you’re not mixing personal and business expenses. You may also be able to get rewards or cash back on your business credit card, which can be a nice perk. Just be sure to pay off your balance in full each month so you don’t end up paying interest on your purchases.
Keep Track of Your Spending
When you use a business credit card for your LLC, it’s important to keep track of your spending. This will help you stay organized and keep your finances in order. You can use a business credit card tracking app or a simple spreadsheet to track your expenses.
If you’re not sure how to keep track of your spending, talk to your accountant or financial advisor. They can help you set up a system that works for you and your business.
Pay Your Balance in Full Each Month
Paying your balance in full each month is the best way to use your business credit card for your LLC. This will help you avoid paying interest on your purchases, and it will also help you build up your credit score. If you can’t pay your balance in full each month, try to at least make the minimum payment.
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