The best construction credit cards are Chase Ink Business Cash and American Express Blue Business Plus because they both have $0 annual fees, give rewards on every purchase, and offer 1-year 0% intro APR periods. This is great for construction companies because cash flow is a common problem in the industry. Construction businesses often have projects with a lot of upfront costs, and 92% of construction companies report delayed payments from their clients, according to a 2018 survey. A credit card with a 0% intro APR can be an asset when you need to carry a large balance.
The Chase Ink Business Cash card is notable for more than just offering a 0% APR on new purchases for 12 months. There’s also an above-average welcome bonus of $500 after spending $3,000 on the card in the first 3 months, which shouldn’t be much of a hurdle for a construction business. The business-related savings roll in after the initial bonus, too, with up to 5% cash back on office supplies, telecom expenses, and other purchases.
Similarly, new American Express Blue Business Plus cardholders enjoy 0% APR for 12 months, so carrying a balance for a while on this card is no sweat. The Blue Business Plus card offers 2 rewards points per $1 spent, up to $50,000 spent each year, then 1 point per $1.
Credit cards specifically for construction do exist, and the Comdata Construction Mastercard is one example. It’s an industry-specific fleet card that comes with rewards on gas and building materials. But it also has a high APR and monthly fees for each cardholder in the fleet, which probably won’t work in a construction company’s favor. The late fees are steep for this card, at $150 per occurrence, and the fine print suggests a possible $0.10 per gallon administration charge, which seems to negate the gas rewards.
On the other side of the coin, Home Depot offers a Project Loan, which essentially is a fixed 7.99% APR credit card with a set buying window of 6 months, aimed at helping people finance remodeling projects. The card’s credit limits go up to $55,000, and cardholders have 84 months to repay the balance. Construction business owners may be able to use a Project Loan to their benefit, but they won’t be able to make purchases outside of Home Depot.
Overall, you’re better off getting a normal business credit card with rewards or rates well-suited to your work than something advertised specifically as a construction credit card. A personal credit card may also be worth a look, especially if you’re trying to find a great 0% APR intro period. One option is the U.S. Bank Visa Platinum, which offers a way-above-average 18 months of 0% APR.
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