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How To Choose The Best High
- Do you want a universal credit card? If thats the case, the Ink Business Preferred® Credit Card from Chase could be your best choice. Its a regular credit card with a high-limit that rewards business purchases for a relatively small annual fee.
- Do you want complete control over your credit limit? If you have a bad credit score, or you dont want to wait to get a credit line increase, a secured card like the Business Edition® Secured® Visa Card from First National Bank would likely be your best choice. With this card, your deposit determines your credit line.
- Are you a frequent flyer who wants premium perks? In that case, The Business Platinum Card® from American Express could be the best card for your business. Aside from getting the ultimate travel perks and benefits, you wont have a preset spending limit.
What if I dont get approved for a high limit?
In this case, youll have to work toward a . This includes paying your balance on time and keeping your utilization ratio under 30%. Sometimes, the card provider will increase your credit limit on its own or youll have to request an increase by yourself. You may also look into some alternatives to suit your business needs.
Capital One Spark Cash Select For Business
For a no-nonsense cash back reward card, the Capital One® Spark® Cash Select for Business is a popular pick. Part of the impressive line of Spark business cards from Capital One, it offers a $0 annual fee with a simple rewards structure. Use the cash back for whatever you want, with almost no restrictions on how and where you can earn. If youre a fan of Capital One and its business-friendly credit model, this is a pick you can be proud to carry. While the card isnt heavy on travel perks, it does have some benefits, including emergency card replacement to get a new card or even cash 24/7 and auto rental damage waiver service. The purchase protection is a nice benefit, too, giving you 90 days of replacement, repair, or reimbursement for select items you buy with the card it also doubles the manufacturers warranty on items you buy. A $0 annual fee gives this card an extra boost, and frequent welcome offers can give you cash to pay down your account balance, or to spend on whatever you want. Rewards dont expire as long as you keep your account in good standing.
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Best Business Hotel Card: Marriott Bonvoy Businessamerican Express Card
Earn 75,000 bonus Marriott Bonvoy points after you use your new Card to make $3,000 in eligible purchases within the first 3 months of Card Membership. Plus, earn up to $150 back in statement credits on eligible purchases made on your new Card within the first 3 months of Card Membership.
|Rewards Earning Rate||Earn 6x points at hotels participating in the Marriott Bonvoy program. Earn 4x points at U.S. restaurants, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping. 2x points on all other eligible purchases.|
|Cash Advance APR|
- Why We Chose This Card:
- Pros & Cons
The Marriott Bonvoy BusinessAmerican Express® Card is our choice for the best business hotel card due to its strong bonus rewards on Marriott expenditures as well as those at U.S. restaurants and U.S. gas stations, making it an ideal business travel and entertainment card. It has a $125 annual fee but that is easily justified by the benefits of automatic Silver Elite status and the annual free night certificate . Earn 75,000 bonus Marriott Bonvoy points after you use your new Card to make $3,000 in eligible purchases within the first 3 months of Card Membership. Plus, earn up to $150 back in statement credits on eligible purchases made on your new Card within the first 3 months of Card Membership.
How We Picked These Cards
Most credit card issuers dont reveal the specific minimum or maximum limits for their cards. When they do, they often only indicate a low minimum credit limit, like $300 to $500.
To help provide some clarity, we tried to pick cards that either shared a clear credit limit range or cards that must have certain credit limits based on network rules, like Visa Signature cards that must offer a minimum $5,000 limit. At the same time, we also wanted to pick cards that have been reported to offer high credit limits to cardholders in at least some cases.
Keep in mind that you still may be able to earn a high credit limit from a card that lists a low minimum credit limit. Our list is meant to highlight cards with available information on their credit lines, not all cards that might offer high limits to cardholders.
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Are Business Credit Card Payments Tax Deductible For Individuals
Contributions for natural and legal persons. If you have a business credit card and use it to make business purchases, you can get multiple deductions. On the one hand, all interest paid on the card is deducted in full. If you are charged annual fees, late fees, or a variety of other fees, they will also be deducted in full.
What Business Credit Card Gives The Highest Limit
Many business credit cards dont publish a maximum limit. But options with large annual fees or generous reward rates may give you the highest limit because these cards are meant for big spenders or customers with excellent credit.
Some providers do share the minimum credit line that approved applicants will receive though this is a starting point and you could qualify for a larger amount. Here are some well-known issuers business credit cards with the highest minimum limits:
Business Credit Card
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What Are The Types Of Business Credit Scores
Two types of business credit scores should be monitored if you plan to apply for business loans in the future: Experians Intelliscore Plus score and Dun & Bradstreets Paydex score. Both have score ranges of 0 to 100.
Intelliscore Plus: Scores of 76 or higher are considered good to excellent.
Paydex: Scores of 80 or higher are considered good to excellent.
American Express: The Business Platinum Credit Card
American Express offers here a high limit business credit card with no spending limit perfect for a business that thinks the skys the limit. For many charges, you can carry the balance over but not all of them.
If your business is travel heavy this is a great card to own. It offers 5 points to the dollar on hotels and flights if theyre paid for through amextravel.com. Youll also benefit from $200 per year off the costs of your flights and the potential for 35% added membership points, if you use the Membership pay with points. Additionally, why not benefit from lounge access at the airport through Amexs Global Collection.
It isnt cheap to have these perks though, unfortunately with a $595-695 fee payable per year.
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Dubai First Royale Card
The Dubai First Royale Card is the ultimate in opulence. The card has a white diamond in the center, and its edges are coated with gold.
This is what we know about the Dubai First Royale Card:
- Dubai First scouts potential clients. Most cardholders come from royal families or have an extremely high net worth.
- The annual fee is unknown. It’s rumored to be $2,000.
- There’s absolutely no credit limit. Dubai First has said that all transactions on this card must be approved.
A Few Key Considerations You Should Make When Choosing A Business Credit Card For Travel:
- Are you loyal to a specific airline or hotel chain or do you want to be able to use your rewards with any hotel/carrier?
- Will the card be used for international travel or domestic only?
- Who gets to use the perks/points?
- Does the card carry travel insurance or other travel-specific support or protections?
- Whats the annual fee?
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Increase Your Income And Reduce Your Debt
The higher your income is, the better chance you have of getting a new card with a high initial credit limit. Similarly, reducing your debt boosts your odds.
You might therefore want to consider increasing your income through a second job, investments, or even a new job with a higher starting salary. Also, if your income goes up in the future, be sure to update your credit cards issuer, as this could help get you a higher credit limit.
What You Do Not Need
A specific business typeWhether you have a structured company, LLC or partnership, or you operate without a formal or legal business structure, youre still perfectly eligible to apply.
Business credit historyIn most cases, your small business credit card would be guaranteed by you personally and not the business itself. This means that you wont be required to include an existing credit history for your business.
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Capital One Spark Cash For Business
on Capital One® Spark® Cash for Business’s secure website.
Why we like it: Business owners who like to keep it simple will enjoy Capital One® Spark® Cash for Business. Because its a fixed-rate rewards card, its the perfect card for fluctuating business expenses. For owners with excellent credit scores , this card offers high credit limits that can provide the funding your small business needs.
Theres also no need to keep up with spending categories because of the fixed-rate cash back rewards. You wont need to spend time converting your rewards because you can redeem them as cash back. Additionally, with large purchases, youll earn a fairly large cash bonus in exchange for meeting specific spending requirements.
Getting A Secured Business Credit Card
Applying for a secured business credit card works a lot like applying for an unsecured business credit card. Either way, youll submit an application to your card issuer of choice. Your application will include information about yourself and your business, and the credit card company will probably run a credit check before approving you.
The biggest difference? Collateral. Before you can use your secured credit card, youll have to offer up collateral in the form of a cash deposit .
In most cases, your credit limit will be directly tied to how much money you deposit as collateral. For example, your credit limit might be 90% of your collateral deposit. As you can see, that means that secured credit cards dont work so well for big cash advances or extra working capital. Because really, youre only borrowing money you already had on hand.
Instead, secured credit cards are designed to help you build credit by developing a good credit historyeven if youre starting with bad credit or no credit. Your credit card activity will get reported to credit bureaus, which then affects your credit score and overall credit profile.
So as you use your card for business expenses and then repay your balance on time, youll start to see improved business credit. Before you know it, youll be able to qualify for the best business credit cardswhich will be unsecured business credit cards that dont require collateral.
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Brex 30 Card: Best For Startups
For a qualified startup business, this card is a winner as there are no credit checks to be approved. The flexibility of this card is also noteworthy, as more businesses are remote due to the COVID-19 pandemic. The Brex 30 Card introduced perks allowing businesses to save on remote work-friendly categories like Zoom and Slack.
Whats important for cardholders to understand is that this Brex Card is not a revolving credit card, but instead a charge card without a spending limit. Businesses must make sure they have enough cash flow to sustain this type of account.
The Brex card boasts great rewards. Here are some of them:
- 7 points per dollar on rideshares, like Uber and Lyft
- 4 points per dollar on Brex travel purchases
- 3 points per dollar on restaurants and on Apple products purchased via Brex portal
- 2 points per dollar on recurring software purchases
- 1 points per dollar on everything else
- Access enhanced rewards rates by paying your account balance daily
You can also get discounts and credits on services like Zoom, Slack, Amazon Web Services and Dropbox. Brex estimates these savings could add up to more than $150,000 in value.
Plus, youll get access to startup-friendly tools like automated receipt capture, expense matching and reconciliation and built-in integrations with QuickBooks and other accounting software. You can instantly add new employees and issue them virtual cards, enabling everyone on your team to help you grow your business.
Meet Our Credit Cards Expert
Ben Woolsey is Investopedia’s Associate Editorial Director of financial products and services, including credit cards. He has more than 30 years of experience in the financial services industry, including marketing for banking and financial institutions such as Associates First Capital and Bank One. Prior to Investopedia, he managed credit card content for CreditCards.com and Bankrate.com.
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Capital One Spark Cash For Business: Best For Flat
The Capital One Spark Cash for Business keeps things simple by offering a flat 2 percent cash back for each dollar your business spends. When you sign up, you also get the chance to earn $500 in bonus cash back when you spend $4,500 within three months of account opening.
The $95 annual fee is waived the first year, so you can try out this business card for 12 months without paying an annual fee. Cardholder benefits you can enjoy include roadside assistance, travel and emergency assistance, free employee cards and more.
Which Credit Card Companies Give The Highest Limits On Cash
The cards with the highest total credit limit, Chase Sapphire Reserve and Chase Sapphire Preferred Card, are points cards and therefore winners in this category. Some high net worth candidates will compete for the six-digit limits, but most will compete for limits close to the low of $5,000 to $10,000.
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Improve Your Credit Score
If youre unlikely to qualify based on your score, you will need to add positive information to your credit report by catching up on any past-due bills and maintaining a steady history of on-time payments, among other things. Once youve established a strong credit profile, you can then target credit cards known for their high initial credit limits.
Divvy Smart Credit Card For Business
The Divvy Smart Credit Card for Business is made for small business. Divvy streamlines spend management by combining corporate cards with free expense management software. The annual fee is $0. All charges made on this charge card are due and payable when you receive your periodic statement. And it offers rewards: Up to 7% points, based on payment settings..
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Southwest Rapid Rewards Premier Business Credit Card: Best For Southwest Flyers Who Want A Lower Annual Fee
Annual fee: $99
Current sign-up bonus: Earn 60,000 points after you spend $3,000 on purchases in the first three months of account opening.
Why we like it: If youre a business owner and Southwest loyalist but cant justify an annual fee greater than $100, the Southwest Rapid Rewards Premier Business is the card for you. There are excellent Southwest perks, such as four upgraded boardings per year upon availability, up to 365 inflight wifi credits and a Global Entry/TSA Precheck credit every four years.
For more details, read our Southwest Rapid Rewards Premier Business review.
A Few Key Considerations You Should Make When Choosing An American Express Card:
- Do you have excellent credit?
- Do you want a high annual fee with extra rewards or a lower/$0 annual fee with limited rewards?
- Do you want a charge card or credit card?
- Do places where your business normally make purchases already accept American Express cards?
Heres Navs pick for the best American Express business credit card:
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How Do Small Businesses Use Business Credit Cards
Our research of the small business community suggests that most entrepreneurs and business owners use business credit cards primarily to help manage cash flow. That is, they mostly depend on the card at times when they’ve incurred charges in order to provide goods and services but are yet to get paid by clients. They also appreciate, and even rely upon, leveraging business spending to earn card rewards.
Also important is the quality of customer serviceparticularly, how well issuers resolve complaintssince card fraud is a frequent headache for small businesses.
Lower in priority, say many businesses, is the card’s interest rate, whether during introductory promotions or over the long term. In large part, that’s because businesses are less inclined than consumers to carry balances from month to month. Business card clients, we observe, are also less sensitive than regular consumers to cards’ annual fees and about meeting the spending requirements for a card’s one-time bonus.