Katherine Olson, Member
@kathe_olson
The best business credit card for contractors is the Regions Visa® Business Enhanced Credit Card because it has a $0 annual fee, gives 2 points per $1 spent on all purchases, and offers an intro APR of 0% for 12 months. You can also get an initial bonus of 30,000 points after spending $3,000 within the first 90 days. So, this is a well-rounded card, capable of saving contractors a lot of money in multiple ways.
Just bear in mind that the Regions Visa® Business Enhanced Credit Card has a regular APR of 15.99% - 25.99% (V), and it requires good credit for approval.
Best Business Credit Cards for Contractors
Initial Bonus: 30,000 points after spending $3,000 within the first 90 days
Ongoing Rewards: 2 points per $1 spent on all purchases
Regular APR: 15.99% - 25.99% (V)
Annual Fee: $0
Credit Score: Good
Initial Bonus: $500 cash rewards after spending $5,000 on purchases in the first 3 months
Ongoing Rewards: 2% cash rewards
Regular APR: 16.74% - 24.74% Variable
Annual Fee: $0
Credit Score: Good
Initial Bonus: $250 cash back in the form of a statement credit when you spend $1,500 within the first 90 days
Ongoing Rewards: 2% cash back on all eligible purchases
Regular APR: 17.49% - 27.49% (V)
Annual Fee: $0
Credit Score: Good
Initial Bonus: $750 for spending $6,000 in the first 3 months
Ongoing Rewards: 5% cash back on the first $25,000 spent per year in combined purchases at office supply stores and on internet, cable and phone services; 2% cash back on the first $25,000 spent per year at gas stations and restaurants combined; and 1% back on all other purchases
Regular APR: 16.74% - 24.74% (V)
Annual Fee: $0
Credit Score: Good
Initial Bonus: $2,000 for spending $30,000 in the first 3 months, plus an additional $2,000 bonus for every $500,000 spent in the first year
Ongoing Rewards: 5% cash back on hotels and rental cars booked through Capital One Business Travel, and 2% cash back on all other purchases
Regular APR: N/A
Annual Fee: $150
Credit Score: Excellent
Initial Bonus: 150,000 miles for spending $30,000 in the first 3 months
Ongoing Rewards: 10 miles per $1 spent on hotels and rental cars booked through Capital One Business Travel, 5 miles per $1 spent on flights and vacation rentals booked through Capital One Business Travel, and 2 miles per $1 on all other purchases
Regular APR: N/A
Annual Fee: $395
Credit Score: Excellent
These cards all offer great rewards, and some have 0% introductory APRs as well. An introductory APR promotion lasting for a long period of time can help with the cash-flow problems a contractor can face when starting a new project. You should also be aware that approval for a business credit card will depend largely on your personal credit and income in most cases.
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The best credit card for a construction company is the Regions Visa® Business Enhanced Credit Card because it offers an introductory APR of 0% for 12 months on purchases, along with good rewards. Cardholders earn 2 points per $1, plus an initial bonus of 30,000 points after spending $3,000 within the first 90 days. There’s a $0 annual fee too.
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