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November 8, 2017

Business Credit Cards with No Annual Fee

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If you're looking to get a credit card for your business, you've got a lot of options. In this article, we'll look at why a business credit card with no annual fee might (or might not) be for you.

Find a business credit card with valuable rewards, a sign-up bonus, travel perks, or a helpful introductory APR. Read on to see which no annual fee business credit card is the right fit for your business.

What to Look for in a Business Credit Card

There are a lot of factors to take into account when choosing a new business credit card, but we've put together a list of some that you might want to prioritize. Each of the cards in this article carries at least a few of these key features:

  • A big sign-up bonus. With a little bit of planning, you can earn a sign-up bonus worth $200-$400 by meeting some cards' spending minimums. With so many options on the market, it rarely makes sense to sign up for a card that doesn't offer some kind of bonus.

  • Bonus points in spending categories. Many cards offer bonus spending categories that earn anywhere from 2x to 5x points or miles. If racking up rewards is your priority, this is one of the first features to consider. Look for cards that carry bonus spending in popular business categories like gas station purchases, restaurants, internet and cable TV services, and advertising on social media sites or search engines.

  • Valuable redemption options. It's hard to beat the flexibility of cash back rewards, but some points and miles cards offer valuable perks and redemption options for travel. With each card offering different redemption options, you'd likely get different value out of each of these cards.

  • Introductory APR. Some business cards offer a 0% introductory APR on purchases for a certain period of time. This could be especially helpful if you need to make some larger purchases or investments. Or if your new or growing small businesses hasn't established a steady cash flow.

  • Helpful benefits for your business. Some cards come with tools to help you keep track of expenses. Also pay attention to purchase protections, extended warranties, and even travel insurance options that might help you save money if you ever need them.

Sign-Up Bonus: SimplyCash Plus

SimplyCash Plus
Apply for SimplyCash Plus Business Credit Card from American Express
Consider the SimplyCash Plus Business Credit Card from American Express, a CreditDonkey partner.

SimplyCash Plus offers up to $400 cash back. Here is how the special offer works. You earn a $200 statement credit if you spend $5,000 in qualifying purchases on your card within the first six months of Card Membership. You can earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership. There is no annual fee.

Look: this card earns 3% cash back on the category of your choice (from a list of 8 select categories). This card earns 5% cash back on wireless telephone services purchased directly from U.S. service providers and at U.S. office supply stores. Other purchases earn 1% cash back. The 5% and 3% tiers apply to the first $50,000 in purchases per calendar year (then 1% applies thereafter). The cash back earned is automatically credited to your statement. Enjoy a 0% intro APR on purchases for 9 months. After that, a variable APR of 13.24% to 20.24%. Terms apply.

Flexible Rewards: Chase Ink Business Cash

Ink Business Cash lets you earn $300 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. There is no annual fee.

Plus, there is a 0% introductory APR on purchases and balance transfers for 12 months. After the intro period, a variable APR applies, currently 14.24% - 20.24%.

Read More: If you're up for paying an annual fee in exchange for a larger sign-up bonus and more protections and benefits, the Chase Ink Business Preferred might be for you. With the Ink Business Preferred, you'll also be able to transfer your points to airline and hotel partners.

Cash Back: Capital One Spark Cash Select

Maximizing rewards to book award flights can require a lot of research and strategizing, so it definitely isn't for everyone. If your business doesn't have travel needs or you just want simple cash back, the Capital One Spark Cash Select for Business might be more your style.

Capital One Spark Cash Select offers a one-time bonus of $200 if you spend $3,000 on purchases within three months of account opening. This card earns 1.5% cash back on every purchase. There is a 0% intro APR on purchases for 9 months. After that, a variable APR, currently 13.99% - 21.99%. There is no annual fee.

Travel: Capital One Spark Miles Select

Capital One Spark Miles Select offers a one-time bonus of 20,000 miles if you spend $3,000 on purchases within three months of account opening. This card earns 1.5 miles per dollar on every purchase. There is a 0% intro APR on purchases for 9 months. After that, a variable APR, currently 13.99% - 21.99%. There is no annual fee.

Introductory APR: Blue Business Plus

For businesses who need the flexibility to pay over time with an introductory APR, consider the Blue Business Plus from American Express, a CreditDonkey partner.

Blue Business Plus earns 2X Membership Reward® points on the first $50,000 spent on eligible purchases each calendar year, 1 point per dollar thereafter. Enjoy a 0% intro APR on purchases and balance transfers for 15 months. After that, a variable APR, currently 12.24%, 16.24% or 20.24%. There is no annual fee. Terms apply.

Is a No Annual Fee Business Credit Card Right for You?

The selection of rewards cards on the market can be pretty overwhelming, and small business owners have a slew of options to choose from. Here are a few reasons a business credit card with no annual fee might be for you:

  • You run a small business with low spending needs.
  • You want to earn extra rewards for your business expenses, but don't need the top-tier perks that come with a more expensive business rewards card.
  • You need to create additional cards for your employees, but you don't want to have to pay for a new account.

Other Options

If that doesn't sound like you, you have a few other options.

Common Questions

  • What kinds of businesses qualify for business cards?
    Whether you run an LLC, a corporation, work out of your home as a freelancer, or sell goods on eBay, you can potentially qualify for a business credit card. The key is that you must earn a profit (or intend to).

  • Do I need to have an EIN to apply?
    In short: no. Incorporated businesses and LLCs will use their federal tax ID (or EIN) to apply for their new account. But if your business is neither of the above - i.e., you're running a sole proprietorship - you can simply use your Social Security number in place of an EIN.

Read More: How to Get a Business Credit Card

Bottom Line

Signing up for a business credit card with no annual fee can be a great option for small businesses with low spending needs. Whether your priority is to save rewards for travel, earn straightforward cash back rewards, or earn transferrable points, you'll find some valuable options to choose from.

On the other hand, businesses with higher expenses might benefit from the high sign-up bonuses, travel perks, and protections that often come with midrange business reward cards.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: The information for the Ink Business Cash Credit Card, Capital One® Spark® Cash Select for Business, and Capital One® Spark® Miles Select for Business has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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