Ashley Wade, WalletHub Analyst
The best construction credit card is The Blue Business® Plus Credit Card from American Express because it offers an introductory APR for purchases of 0% for 12 months and has a $0 annual fee. Cardholders also earn 2 points per $1 on the first $50,000 spent each year, 1 point per $1 after that and 15,000 points for spending $3,000 in the first 3 months.
Credit cards with 0% intro APR offers and rewards for everyday purchases are 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 only 9% of construction companies say they always get paid on time, according to a 2021 survey.
On the bright side, there are lots of credit card options that could help construction businesses.
Best Construction Credit Cards
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 credit card with a set buying window of 6 months, aimed at helping people finance remodeling projects. The APR value ranges from 7.24% to 19.96% depending on how many monthly payments you make. The card’s credit limits go up to $55,000, and cardholders have 66 - 114 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.
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