Finding the right business credit card can significantly impact your financial management, especially with over 70% of small businesses utilizing credit cards for expenses. In 2019, the options available were abundant, making it crucial to choose a card that aligns with your spending habits and offers valuable rewards.

Expert bookkeeping services can simplify your accounting and tax needs while you focus on selecting the best business credit cards. Businesses that actively manage their finances can save up to 30% on costs, making financial organization a key factor in success.

While several competitors offer business credit cards, personalized financial support ensures that your card selection aligns with your unique business strategy. Explore the various options available and make informed decisions that benefit your business.

Overview of Business Credit Cards

Business credit cards serve as essential financial tools for managing expenses and building credit. These cards offer various features, including cash back, travel rewards, and expense tracking. Understanding the types available helps you identify which card best fits your business needs.

Types of Business Credit Cards

• Cash Back Cards – Offer a percentage of cash back on purchases. These rewards can contribute to overall savings, making them beneficial for regular expenses.
• Travel Rewards Cards – Provide points or miles for travel-related purchases. Ideal for businesses with frequent travel needs, helping reduce future expenses.
• Low-Interest Cards – Feature lower APR rates for balances carried month to month. These options minimize interest costs for businesses with cash flow fluctuations.

Key Benefits

• Expense Tracking – Simplifies record-keeping by categorizing spending and enhancing budgeting efforts.
• Credit Building – Establishes a credit history for the business, which can facilitate future financing options.
• Rewards Programs – Enable businesses to earn perks for typical spending, helping offset costs.

Considerations When Choosing a Card

• Annual Fees – Affect the overall value of the card, especially if the rewards do not compensate for the fees. Compare different offerings to evaluate cost-effectiveness.
• Foreign Transaction Fees – Can apply to international purchases. Businesses with global operations should choose a card with no foreign transaction fees.
• Introductory Offers – Often lure users with attractive sign-up bonuses. Evaluating these promotions against long-term benefits is crucial.

Financial planning services assist in selecting the most suitable business credit card that aligns with your financial strategy. Proper bookkeeping ensures that you maximize benefits while maintaining accurate records for tax compliance.

Top Features to Consider

Choosing the best business credit card involves evaluating several key features to find the right fit for your financial needs.

Rewards Programs

Consider rewards programs when selecting a credit card. Look for cash back options, travel rewards, and points systems that match your spending habits. For example, a business that spends heavily on office supplies might benefit from a card offering higher cash back on those purchases.

Analyze the redemption options too—some programs allow flexibility in how you use points, maximizing value. Expense tracking solutions ensure that businesses optimize rewards while simplifying tax preparation and financial management.

Interest Rates and Fees

Interest rates and fees significantly impact the cost of having a credit card. Compare annual fees, foreign transaction fees, and APRs among different cards.

• Low-interest options save money over time, especially if your business occasionally carries a balance.
• Even a small percentage difference in APR can lead to substantial savings in interest payments.

Cash flow management services help businesses monitor their credit card statements, ensuring that financing costs remain manageable.

Additional Benefits

Review additional benefits offered by business credit cards, including:

• Travel insurance for business trips
• Purchase protection for large expenses
• Extended warranty coverage on purchases

These features add value beyond basic rewards, providing peace of mind for business purchases. Some cards even offer dedicated business support, improving efficiency.

Automated bookkeeping solutions ensure that your credit card benefits are tracked accurately, allowing businesses to fully capitalize on rewards while maintaining well-organized financial records.

Best Business Credit Cards 2019

Choosing the right business credit card impacts your financial management. The following cards stand out in 2019 for their valuable features and rewards.

Card 1: Overview and Benefits

The Chase Ink Business Preferred Card provides 3 points per dollar on the first $150,000 spent in combined purchases in categories like travel and advertising. Earn a substantial welcome bonus after spending a set amount within the first three months. This card features no foreign transaction fees, making it ideal for businesses with international needs.

Ridgewise simplifies expense tracking and bookkeeping for businesses using this card. Our services can help manage transactions and ensure compliance with tax requirements.

Card 2: Overview and Benefits

The American Express Blue Business Plus Card offers 2 points per dollar on all eligible purchases up to $50,000 each year. After reaching this limit, the card provides 1 point per dollar. Enjoy a generous introductory 0% APR on purchases for the first 12 months. This card suits businesses seeking straightforward rewards without annual fees.

Ridgewise supports users of this card by offering bookkeeping services to track points earned and expenses. Accurate record-keeping helps businesses utilize their rewards effectively.

Card 3: Overview and Benefits

The Capital One Spark Cash for Business card provides unlimited 2% cash back on all purchases. There’s no annual fee for the first year, and you can earn a hefty cash bonus after meeting a specific spending threshold. With straightforward cash back benefits, it’s best for businesses that want consistent rewards without complications.

Ridgewise assists in managing cash flow for users of this card, ensuring all transactions are accounted for. Our bookkeeping services help maintain clarity on cash back earnings and eligible expenses.

Comparing the Best Options

Understanding the pros and cons of each business credit card helps you make informed decisions about your financial needs. Here’s a breakdown of the key features and drawbacks of the top cards in 2019.

Pros and Cons of Each Card

Chase Ink Business Preferred Card

• Pros: Offers 3 points per dollar on shipping, travel, internet, cable, and phone services, no foreign transaction fees, and a substantial sign-up bonus.
• Cons: Has a high annual fee of $95 and requires excellent credit for approval.

American Express Blue Business Plus Card

• Pros: Provides 2 points per dollar on all eligible purchases, a 0% introductory APR for the first 12 months, and no annual fee.
• Cons: Limited redemption options compared to other cards and less acceptance in some locations.

Capital One Spark Cash for Business Card

• Pros: Delivers unlimited 2% cash back on every purchase, easy to redeem cash back, and has no foreign transaction fees.
• Cons: Also features a $95 annual fee, waived the first year, and requires strong credit points for the best approval odds.

Utilizing Ridgewise for bookkeeping and accounting needs simplifies managing these credit cards. With expert assistance, you maintain accurate financial records, track spending, and monitor rewards efficiently, ensuring you capitalize on every benefit. Ridgewise’s tailored services allow you to focus on business growth instead of navigating complex financial statements.

Conclusion

Choosing the right business credit card can significantly impact your financial management. With various options available in 2019 it’s essential to align your card choice with your spending habits and business needs.

Ridgewise stands out as a reliable partner in navigating these choices. By leveraging their personalized services you can ensure you’re maximizing rewards while maintaining accurate financial records.

Take the time to evaluate your options and consider how each card’s features can benefit your business. This strategic approach will help you manage expenses effectively and set your business up for future success.

Frequently Asked Questions

What are the benefits of using a business credit card?

Business credit cards help manage expenses, build credit, and offer rewards programs. They enable expense tracking and provide additional benefits like travel insurance and purchase protection, making them essential tools for small businesses.

How can I choose the right business credit card?

To choose the right business credit card, assess your spending habits, consider rewards programs that match your needs, and review fees, interest rates, and introductory offers. Ridgewise can assist in this process, ensuring you select a card that maximizes your financial benefits.

What types of business credit cards are available?

There are various types of business credit cards, including cash back, travel rewards, and low-interest options. Each caters to different needs, so it’s essential to analyze which type aligns best with your business expenses and goals.

How does Ridgewise help with business credit cards?

Ridgewise assists businesses in selecting suitable credit cards, tracking expenses, and managing accounting needs. They provide personalized service that helps businesses make informed financial decisions and potentially save costs.

What should I consider when evaluating business credit cards?

Evaluate annual fees, foreign transaction fees, rewards programs, and interest rates when assessing business credit cards. Understanding these factors will help you choose a card that offers the best financial advantages for your business.

Can business credit cards impact my credit score?

Yes, using a business credit card responsibly can positively impact your credit score. Timely payments and maintaining low credit utilization help build a strong credit history, which is beneficial for future financing options.

What are the top business credit cards of 2019?

Some top business credit cards of 2019 include the Chase Ink Business Preferred Card, American Express Blue Business Plus Card, and Capital One Spark Cash for Business card. Each offers unique benefits, so choose one based on your specific needs.

How can I maximize rewards from my business credit card?

Maximize rewards by understanding and utilizing the card’s rewards structure, aligning spending with bonus categories, and analyzing redemption options. Track your expenses efficiently to help ensure you’re earning the most rewards possible.

What is the significance of a personalized service with Ridgewise?

A personalized service with Ridgewise tailors solutions to your unique financial needs, providing expert guidance in selecting credit cards and managing your accounting. This can lead to better financial decision-making and potentially significant cost savings.