June 21, 2019

The Top 5 Unsecured Business Credit Card Options

If you’re diligent about paying your bills on time, an unsecured business credit card can be a cost-effective financing tool for your business. With no money down, an unsecured business credit card can provide short-term funding that frees up thousands of dollars in cash flow.

Not to mention, if you choose a credit card that rewards the type of spending you already do, you can access attractive benefits. However, finding the card that best fits your needs and spending habits takes precious time.

To help you find a great card, without the time commitment, we’ve compiled the top five unsecured business credit card options.

5 Unsecured Credit Cards for Business Owners:

1. Capital One Spark Cash for Business

To get approved for this card, you’ll need an excellent or good credit score. However, if you do qualify, you’ll enjoy significant cash rewards and attractive features including:

  • Unlimited two percent cash back on all purchases.

  • An early spend bonus of $500 cash back if you spend $4500 in the first three months.

  • Annual fee of $95 waived for the first year.

  • Free spending reports and employee cards.

  • No foreign transaction fees.

It’s worth noting that the cash back rewards on the Capital One Spark Cash for Business card never expire as long as the account is open. In addition, you can redeem your cash rewards in the form of either statement credits or paper checks.

2. Chase Ink Business Unlimited

Applicants need excellent credit to qualify for this card, which is similar to the Spark Cash card in terms of rewards. However, there are some key differences that you’ll want to consider. In addition to no annual fee, the Chase Ink Business Unlimited card provides the following rewards and key features:

  • Sign-up bonus of $500 if you spend $3000 within the first three months.

  • Unlimited 1.5 percent cash back on eligible purchases.

  • Free employee cards.

  • Introductory APR of zero percent for the first 12 months.

  • Foreign transaction fees of 3 percent and cash advance and balance transfer fees of 5 percent.

Like the Spark Cash card, this card is relatively straightforward with no spending categories, restrictions, or expiration to worry about so long as the account is open.

3. Chase Ink Business Preferred

Chase provides another popular unsecured business credit card with the Chase Ink Business Preferred card. The rewards and features on this card are far more extensive than the Chase Unlimited card mentioned earlier in this post.

Although you’ll pay a $95 annual fee of with this card, you’ll also get:

  • A sign-up bonus of 80,000 Ultimate Rewards points — worth $800 in cash back or $1000 in travel purchases — for spending $5000 in the first three months.

  • Three points for every dollar spent on social media or search engine ads, travel, shipping, and communications, capped at $150,000.

  • One point for every dollar spent on everything else.

  • No foreign transaction fees.

To qualify for these rewards, you’ll need excellent credit and the annual fee won’t be waived. However, this is a great card for entrepreneurs who ship physical goods, travel often, and invest in Internet advertising.

4. American Express SimplyCash Plus Business

As the name implies, this is a simple business credit card with powerful cash rewards. You’ll pay no annual fee and a zero percent APR for the first 15 months, plus the following benefits:

  • Five percent cash back on office supply and wireless phone service purchases, capped at $50,000 per year.

  • Three percent cash back on one of the following categories of your choice: car rentals, gas, airfare, hotel, advertising, restaurants, shipping, or computer software or hardware.

  • Unlimited one percent cash back.

These rewards and features make the American Express SimplyCash Plus Business card a solid choice for business owners who have the good credit needed to qualify for this card.

5. Bank of America Business Advantage Travel Rewards World Mastercard

This Bank of America card is ideal for the entrepreneur who spends a large portion of their time traveling for business. It carries no annual fee with the following travel-focused rewards and features:

  • Sign-up bonus of 25,000 points (worth a $250 statement credit) if you spend $1000 or more in the first 60 days of opening an account.

  • Introductory APR of zero percent for the first 9 billing cycles.

  • No international transaction fee.

  • Three bonus points per dollar spent on travel purchases through the Bank of America Travel Center.

  • Unlimited 1.5 bonus points for each dollar spent on eligible purchases.

Unlike the other cards in this list, all the point-based rewards are unlimited on this card. That means if you’re a big travel spender, you can earn significant rewards. However, you’ll need excellent credit to qualify for this card.

Conclusion: Consider Unsecured Business Card Options

Applying for these cards is fairly simple and can be completed online or by phone in a few minutes with some basic information. Before you do so, though, take a minute to review these credit card options in the context of your business spending.

Any one of them could be a good fit, but you’ll need to evaluate each one to decide which one truly best fits the needs of your business.

Since 2008, Fora Financial has distributed $4 billion to 55,000 businesses. Click here or call (877) 419-3568 for more information on how Fora Financial's working capital solutions can help your business thrive.