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7 Business Credit Card Rewards to Take Advantage Of
January 23, 2018
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7 Business Credit Card Rewards to Take Advantage Of

With so many seemingly great rewards offered with business credit cards, it can be time-consuming to sort through all the offers. In addition, plenty of credit card rewards are much more appealing on paper than they are in reality. To help you sort through the potential credit card rewards, we’ve compiled this list of seven business credit card rewards to take advantage of.

As you review this list, consider which rewards are the most valuable to you and your business. For example, travel rewards, even if they’re quite generous, don’t do much for you if you only take one trip a year.

Business Credit Card Rewards

Combo Reward

The INK Business Preferred Credit Card starts off our list with its introductory reward of 80,000 points after you spend $5000 in the first three months of opening an account. You also get cell phone insurance if you pay for your and your employees’ cell phone bills. Also, another great reward is that you’ll receive three points on every dollar spent on travel, shipping, social advertising, and telecom services up to $150,000 each year.

This bundle of rewards is great, but the cell phone insurance really sets it apart. You’ll get $600 protection against theft or damage and your deductible is $100. Your employees’ phones will also be covered if you pay their cell phone bills.

Cashback Reward

The Business Gold Rewards Card from American Express offers three points for every dollar spent on one category that you choose from a list of options and two points on the remaining options. That goes for up to $100,000 in purchases in any category. Plus, you’ll earn one point per dollar spent on all other purchases.

Just keep in mind that you’ll need to spend close to the limit to make the reward worth it; the annual fee on the card is $175 after the first year.

Free Wi-Fi

Hotel reward cards can help you reap attractive rewards if you travel often and stay loyal to a certain hotel chain. The Starwood business credit card offers cardholders free, unlimited Boingo Wi-Fi (a brand of Wi-Fi commonly offered at airports). You’ll also receive two Star points for every dollar you spend at participating Marriott Hotels.

Steady Cashback with Low Annual Fee

With the Capital One Spark Cash for Business card you get an unlimited 2 percent cash back on everything your purchase. You’ll also get an added bonus of $500 cash if you spend $4,500 within 3 months of opening the account. In addition, you’ll receive a waived first-year fee and a relatively low annual fee of $95 after that.

No APR

While the 0 percent APR offered by the Ink Business Cash credit card doesn’t last forever – just twelve months – it can serve as a powerful, temporary financing tool for small business expenses. Just be sure not to get used to using it like that once the regular APR kicks in.

Small Business Cash Back

The Ink Business Cash appears again on our list of great rewards because when you use this card you’ll get 5 percent cash back on your first $25,000 spent on office supplies and telecommunications services. Plus, you’ll also get that cash back for each year that you’re a member.

Travel Perks

If you prefer an airport lounge to a crowded terminal, the Business Platinum Card from AMEX is the way to go. Still, you should note that it’s not cheap with an annual fee of $450. With this card, you get access to the American Express Global Lounge Collection which features access to lounges all over the world. You also get 75,000 rewards points just for signing up, 5X points on flights and hotels, and 35 percent points back on qualifying airline purchases, among other rewards.

Conclusion

As you know, credit card companies want to make money; they don’t offer great rewards because they’re feeling magnanimous. If you’re not careful, you may get lured by the promise of fantastic rewards without reading the fine print. On the same token, a savvy business credit card user knows how to make the most out of credit card rewards. Ultimately, if you do your homework, credit card rewards can be a fantastic extra perk for your business.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].
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