Signing up for a top business credit card with a high limit can be a wise decision for businesses that have substantial monthly expenses. Not only can a high-limit business credit card make it easier to earn valuable rewards, but it also helps keep your business expenses separate for tax purposes. In this article, we will discuss the benefits of signing up for a high-limit business credit card and provide some recommendations for the best options on the market.
When choosing a business credit card, it’s important to determine the perks that you prioritize and the type of rewards you’re looking to earn. While specific issuers may not disclose exact credit limits and a high credit limit is not guaranteed, there are certain cards that are known to offer high-limit potential and generous rewards.
One such card is the Ink Business Preferred® Credit Card. This card provides flexible rewards and high-limit potential, making it an excellent choice for businesses. Cardholders can earn valuable Ultimate Rewards points by utilizing the card for various business expenses. These points can be transferred to 11 airline partners and three hotel partners, or redeemed directly for travel at a rate of 1.25 cents per point through the Chase Ultimate Rewards portal. Additionally, the card offers a substantial 3 points per dollar on the first $150,000 spent on combined purchases for travel, shipping, internet, cable, phone services, and advertising purchases made through social media and search engines annually.
Another option to consider is the Ink Business Cash® Credit Card. This card is ideal for businesses that spend heavily in specific categories. Cardholders can earn 5% cash back on the first $25,000 spent on combined purchases each account anniversary year at office supply stores and on internet, cable, and phone services. Additionally, they can earn 2% cash back on the first $25,000 spent on combined purchases at gas stations and restaurants each account anniversary year. The card also offers 1% cash back on all other purchases, including spending over $25,000 each account anniversary year in the 5% and 2% categories. With the ability to transfer and combine rewards, the Ink Business Cash Card provides a broader range of redemption options compared to traditional cash-back cards.
For those who prefer a flat-rate cash back option, the Capital One Spark Cash Plus is a suitable choice. This card offers 2% cash back on all purchases with no limits on cash-back rewards. This means that the more you spend, the more cash back you’ll accumulate. The Spark Cash Plus is also a charge card, which means there’s no preset spending limit.
The Blue Business® Plus Credit Card from American Express is an excellent option for new business owners who are conscious of their expenses. With no annual fee, this card provides access to the Membership Rewards program, offering various redemption options such as travel, statement credits, and more. The card also offers 2 points per dollar on the first $50,000 spent per calendar year, and then 1 point per dollar.
For business owners who value premium travel perks, The Business Platinum Card® from American Express is an excellent choice. This card offers a substantial welcome bonus and an abundance of valuable perks exclusively available to cardmembers. Although fully utilizing these perks may require some effort, the potential savings can be significant. The card also offers 1.5 points per dollar on up to $2 million in eligible purchases in the U.S. per calendar year in select categories.
Another great option is the Capital One Venture X Business card. This card provides similar perks to its popular personal counterpart at a reasonable annual fee. With a straightforward earning structure of at least 2 miles per dollar spent on all purchases, this card is an excellent choice for small-business owners who appreciate simplicity. It also offers generous airport lounge access, annual credits, and the option to add a limited number of authorized users for no additional fee.
The American Express® Business Gold Card is a great option for business owners seeking to optimize their earnings from a single card. It offers 4 points per dollar in two bonus categories that adjust monthly based on your highest spending areas, up to a combined $150,000 in purchases per year. The card also offers a generous welcome bonus and various other benefits.
Finally, the Ink Business Premier℠ Credit Card is designed for business owners aiming to earn cash-back rewards on their everyday expenses. While the points earned with this card are mainly intended for cash back purposes and redemptions such as gift cards and travel through the Chase Ultimate Rewards portal, it can still provide value for cardholders looking for cash back.
To find the right high-limit business credit card for your needs, compare the rewards programs, interest rates, fees, and cardholder benefits. It’s important to use your business credit card for all business-related expenses, meet the minimum spending requirement for the welcome bonus, take advantage of expense-tracking benefits, and pay your bill in full each month to avoid interest charges.
In conclusion, signing up for a top business credit card with a high limit can be a wise decision for businesses with substantial monthly expenses. It can help you earn valuable rewards and keep your business expenses separate for tax purposes. By considering the perks you prioritize and the type of rewards you want to earn, you can find the ideal business credit card that suits your requirements. Remember that your exact credit limit will depend on your credit history and credit score.