Business credit cards for LLC
Are you an owner of a limited liability company, or LLC? Are you looking to apply for business credit cards but don’t know how to start the process? Business credit cards can be a great way for small businesses—including LLCs—to manage their finances. In this post, we’ll walk through the basics of applying for and managing business credit cards as an LLC so you can make sure to get the best possible experience.
Whether your business is just starting out or has been running successfully for years, understanding how corporate-issued business and personal lines of credit work is essential—and getting one step ahead with applying to them won’t hurt either!
Why LLCs Should Consider a Business Credit Card
If you’re running a small business, it’s crucial to keep your personal and business finances separate. One way to do that is by getting a business credit card. For LLCs, a business credit card can be particularly beneficial because it allows you to make purchases on behalf of the company and build its credit history.
Additionally, business credit cards often offer rewards and perks tailored to business needs, such as cashback on office supply purchases, travel rewards, and expense management tools. Just make sure to choose a card with a manageable credit limit and a low-interest rate, and use it responsibly to avoid accumulating debt. With a business credit card, you can simplify your finances and streamline your expenses, so you can focus on growing your LLC.
Here is the list of the 10 best business credit cards for LLCs:
If you’re running an LLC, having access to credit can be important for your business’s growth and success. Business credit cards can help you manage your expenses and earn rewards. This article explores the top ten business credit cards available for LLCs.
1. Chase Ink Business Preferred
LLCs often choose the Chase Ink Business Preferred card due to its attractive sign-up bonus and rewards program. Upon spending $15,000 in the initial three months, new cardholders receive 100,000 points, which they can redeem for travel, cashback, and more.
The Chase Ink Business Preferred card not only offers a sign-up bonus but also gives you 3x points on travel, shipping, internet, cable, and phone services, as well as advertising purchases on social media and search engines (up to $150,000 annually, then 1x). You also get travel and purchase protection benefits with the card.
2. American Express Blue Business Plus
The American Express Blue Business Plus card is ideal for LLCs looking to earn rewards on all purchases without the hassle of bonus categories. With this card, you’ll earn 2x Membership Rewards points on all purchases up to $50,000 per year, and then 1x afterward.
The card has a 0% introductory annual percentage rate on purchases for the first 12 months. This makes it a suitable option for businesses that have to make significant purchases and do not want to pay additional interest fees.
3. Capital One Spark Cash for Business
The Capital One Spark Cash for Business card is a credit card that gives you 2% cash back on all purchases with no limit. You don’t have to pay an annual fee for the first year, and if you spend $4,500 within the first three months of opening the account, you can get a sign-up bonus of $500.
The card provides benefits for both travel and purchases and does not charge any fees for transactions made in foreign currencies.
4. American Express Business Gold Card
LLCs can benefit from the American Express Business Gold Card, which is a high-end credit card that offers rewards on various spending categories. Each billing cycle, cardholders can earn 4x points in the two categories they spend the most on (for up to $150,000 per year, after which they earn 1x).
If you spend $10,000 in the first three months after opening an account, you will receive a sign-up bonus of 70,000 Membership Rewards points with this card. Although there is a $295 annual fee, this card offers a range of benefits such as travel and purchase protection, airport lounge access, and more.
5. CitiBusiness/AAdvantage Platinum Select World Mastercard
For LLCs that travel frequently on American Airlines, the CitiBusiness/AAdvantage Platinum Select World Mastercard can be a good choice. With this card, you can earn 2 AAdvantage miles for every dollar spent on eligible American Airlines purchases, as well as purchases made at telecommunications merchants, cable and satellite providers, car rental merchants, and gas stations.
You can earn 65,000 AAdvantage miles as a sign-up bonus by spending $4,000 within the first four months of opening the account. There is an annual fee of $99, but it is free for the first year.
Best Business Credit Cards for Startups
6. Ink Business Cash Credit Card
The Ink Business Cash Credit Card by Chase is a beneficial choice for LLCs seeking to obtain cash rewards on everyday business purchases. By using this card, users can earn 5% cash back on up to $25,000 spent on combined purchases made at office supply stores and on internet, cable, and phone services each year on the account anniversary.
You can receive 2% cash back on up to $25,000 spent at gas stations and restaurants during each year of your account anniversary, and 1% cash back on any other purchases using the card. Additionally, if you spend $7,500 within the first three months of opening the account, you can earn a sign-up bonus of $750 cash back.
7. Capital One Spark Miles for Business
If your LLC is looking to earn miles that can be used for travel, consider the Capital One Spark Miles for Business card. You can earn an unlimited 2x miles on all purchases, and there’s a sign-up bonus of 50,000 miles (which translates to $500 in travel) after spending $4,500 within the first three months of opening the account.
The card provides benefits for travel and purchase protection, and you won’t be charged any foreign transaction fees. For the first year, there is a $95 annual fee, but it’s waived. After that, the annual fee is $195.
8. SimplyCash Plus Business Credit Card from American Express
If you have an LLC and want to earn cash back on different types of purchases, consider getting the SimplyCash Plus Business Credit Card from American Express. You can earn 5% cash back on spending up to $50,000 at office supply stores and on direct purchases of wireless telephone services from U.S. service providers in a calendar year.
This card provides 3% cash back on purchases up to $50,000 at gas stations, and on hardware, software, and cloud computing each year. For all other purchases, you earn 1% cashback. No annual fee is charged and if you spend $15,000 within six months of opening the account, you can get a sign-up bonus of up to $500.
9. Bank of America Business Advantage Cash Rewards Mastercard
If your LLC is looking to earn cash back on common business expenses, consider the Bank of America Business Advantage Cash Rewards Mastercard. This card offers 3% cash back on purchases at gas stations and office supply stores, and 2% cash back at restaurants.
The card has no annual fee and provides a 1% cashback on all purchases. Additionally, if you spend $3,000 within the initial 90 days of account opening, you will receive a sign-up bonus of $300 cashback.
10. U.S. Bank Business Cash Rewards World Elite Mastercard
LLCs looking to earn cash back on their common business expenses can consider the U.S. Bank Business Cash Rewards World Elite Mastercard. The card offers 3% cash back on eligible purchases made at gas stations, restaurants, and office supply stores.
If you make purchases other than the qualifying spends, you will receive 1% cash back. You don’t need to pay any annual fees for the card. Additionally, there is a sign-up bonus of $500 cashback that you can get after you spend $4,500 within the first 150 days from the day you opened the account.
Access to credit can be crucial for growth and success as an LLC. Business credit cards with cash back or travel rewards can be a good option for you to consider.
To pick the best business credit card for your LLC, think about how much you spend and which rewards would be most advantageous for your company. You should compare different cards and benefits to discover the most suitable one.
What are the Benefits of a Business Credit Card for an LLC
For an LLC, a business credit card can offer a variety of benefits. One of the most immediate benefits is the ability to separate business expenses from personal expenses. This simplifies bookkeeping and makes it easier to keep accurate records of your business’s financial activity. Additionally, many business credit cards offer rewards programs that can help you save money on things like office supplies, travel expenses, and even cash-back rewards.
Some business credit cards also come with fraud protection measures and other security features that can help protect your business from unauthorized transactions. Finally, by using a business credit card responsibly, you can build up your business’s credit score and improve your ability to obtain financing in the future. Overall, a business credit card can be a valuable tool for managing your LLC’s financial affairs.
How to Apply for a Business Credit Card as an LLC
As an LLC, applying for a business credit card can be a great way to keep business expenses separate from personal expenses. To get started, you’ll need to gather your business’s legal documentation, such as your Articles of Organization or your EIN. It’s also important to understand the credit card company’s policies and requirements, such as credit score and annual revenue minimums.
Once you have all the necessary documents and information, you can begin the application process. Make sure to read the fine print and understand the terms and conditions of the card before finalizing the application. With a business credit card, you can not only keep your finances organized but also potentially earn rewards and build your business’s credit.
What to Look for in a Business Credit Card Offer
When searching for a business credit card, there are several factors to consider. It’s essential to look for a card with low fees, such as an annual fee or foreign transaction fee, to save money in the long run. Also, consider the rewards program offered by the credit card issuer. Does it align with your business needs and provide benefits that you will use frequently? Finally, look for a credit card with a high credit limit to cover large business expenses. By taking these factors into account, you can select a business credit card that maximizes your rewards and minimizes your costs.
Tips to Manage Your Business Credit Card Responsibly
A business credit card can be a valuable tool for managing expenses, but it also comes with a high level of responsibility. When used correctly, it can help you keep track of your spending and earn rewards. However, using it irresponsibly can lead to financial trouble. One tip to manage your business credit card responsibly is to pay your balance in full every month.
This will help you avoid accruing interest charges and falling into debt. It’s also important to keep track of your spending and monitor your account regularly to prevent fraudulent activity. By following these tips, you can make the most of your business credit card while keeping your finances in check.
Key Takeaways and Final Thoughts on Using a Business Credit Card for an LLC
If you’re a small business owner and run your business as an LLC, getting a business credit card could be a smart move. It helps you separate your personal and business expenses, track your spending, and even earn rewards. However, before you sign up for a business credit card, it’s essential to understand how it works, its fees, and how it can impact your credit score.
Also, make sure that you use it responsibly and pay it off on time to avoid high-interest rates and fees. Overall, a business credit card can be a valuable tool for your LLC, but make sure to evaluate your business needs and financial situation carefully.
Overall, obtaining a business credit card for an LLC can be immensely beneficial for the growth and sustainability of a business. It’s important to take the time to research and Compare offers before making a decision that is most suitable for your particular organization. With careful consideration, responsible management, and diligence in researching potential providers, obtaining a business credit card could be the key to unlocking success in your LLC.
Be sure to observe all of the card features such as any fees or rewards programs; this will help ensure you get access to the right features and make decisions based on sound financial information. Additionally, remember that it pays off to understand industry-specific credit card policies, maintain accurate records, and manage the account well by paying balances in full and promptly. In doing so, you can be one step closer to reaching your entrepreneurial goals with a business credit card tailored perfectly for your LLC.