The best cash back business credit card is the Capital One® Spark® Cash for Business because it offers unlimited 2% cash back on all purchases. Spark Cash for Business also has a $500 bonus for spending $4,500 in the first 3 months. There is no annual fee the first year ($95 after that), and applicants need good personal credit or better for approval.
It’s also worth mentioning that you shouldn’t forget about cash back credit cards meant for personal use. There are some really great deals right now, especially if you don’t plan to spend enough to qualify for a business card’s initial bonus.
The Capital One Spark Classic card is great for business owners with limited or no credit because it offers good approval odds along with 1% cash back on all purchases and a $0 annual fee. And the Plum Card from American Express is the best cash back business charge card for people with higher scores because it gives a 1.5% discount on all purchases that get paid off early. Each purchase has to be paid in full, but Amex allows two billing cycles (60 days) to do it. You just need to make a minimum payment on time the first month.
Yes, cash back credit cards are worth it if the value of the cash back is greater than the cost of the card. The best cash back credit cards with the highest rewards rates and signup bonuses sometimes have annual fees. In that case, you need to be surethat what you earn will offset the cost of the annual fee (and then some). For cards that have … read full answerno annual fees, the cash back is free money as long as you don’t get charged interest.
Many cash back credit cards let cardholders earn more than the cost of the annual fee. However, what you really want is a card that allows you to earn cash back as efficiently as possible. Some credit cards give a flat cash back rate for all purchases. There are also cash back cards that will reward you more for bonus categories, like gas, groceries, or dining. The highest flat cash back rate is 2.5%. For bonus categories, you can earn up to 6%. The best cash back credit cards usually require good credit or better for approval, but there are strong offers for people across the entire credit score spectrum.
Wherever you spend the most money on your credit card will determine whether a flat-rate cash back card is better for you, or a card that’ll earn you bonus cash back in specific categories. How many credit cards you want to have in total matters, too, as does your credit standing. The better your credit is, and the more income you have relative to your debt, the more credit card options you’ll have and the more worthwhile they’ll be.
If you’re looking for a new card, check out the best cash back credit cards and find the one that’s most worth it for you. But remember, as with any card, you need to be sure to use a cash back credit card responsibly for it to be worthwhile in the long run. No credit card, regardless of the cash back rate, is worth it if you overspend and find yourself in debt with a damaged credit score. You can also use WalletHub’s free CardAdvisor tool to find a card that best suits your needs.
The best 2% cash back business credit card is the Capital One® Spark® Cash for Business because it offers unlimited 2% cash back on all purchases and has an annual fee of $0 intro for 1st yr, $95 after. It also offers a $500 cash bonus for spending $4,500 in the first 3 months.… read full answer
There aren’t any more business cards that offer 2% cash back on every purchase. But there are a few that offer 2% or more cash back on select purchases. For example, the Ink Business Cash® Credit Card offers 2% cash back on the first $25,000 spent on combined gas station and restaurant purchases each year. It also gives 5% cash back on the first $25,000 spent on combined office supply, internet, cable and phone service purchases per year. And there’s unlimited 1% cash back on everything else.
Some cards offer 2% back in miles too. But you should choose a card based on more than whether it gives 2% back in rewards. Don’t forget about fees, rates, business benefits, etc.
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