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In the competitive world of finance, the best cash back business credit cards stand out as a top choice for many entrepreneurs. Credit card issuers know that small business owners value simplicity and straightforward rewards.
By making eligible purchases with these cards, businesses can earn cash back, which can then be used as a statement credit, helping to minimize operational expenses.
What are Credit Cards with Cash Back?
Cash back credit cards are a popular financial product that essentially rewards consumers for using the card. Instead of accumulating points or miles, users receive a percentage of their purchases back in the form of cash.
For instance, consider a business owner who has a credit card boasting a 2% cash back rate. If they were to utilize this card for transactions totaling $2,000 in a specific billing period and settle the amount, they would earn a cash back reward of $40.
This cash back can manifest in various ways depending on the card’s terms and conditions. While some cards might apply this amount as a credit against future bills, others might offer options to redeem it for other rewards, or even automatically deduct it from the upcoming statement.
Why You Should Consider Business Credit Cards with Cash Back
- Simplicity – It’s a percentage you can easily calculate. There are no complicated cash rewards programs to track. You can set up an automatic statement credit.
- With many of these cards, there is no annual fee.
- Many cash back cards also have a 0% introductory APR. Combine that with no annual fee, and that will help you save money.
- You can get the cash back on eligible purchases. Eligible purchases may be limited to business purchases at office supply stores or can include other eligible purchases such as advertising purchases, or internet cable and phone services.
- Since the cards are geared to businesses, you’ll find no foreign transaction fees. Since a foreign transaction fee can be as high as 3%, this represents significant savings.
If you are asking what are business credit cards or why should I get a business credit card. Make sure to get full informed before you apply for one. There are many resources available online.
Our Methodology: How We Chose the Best Cash Back Business Credit Cards
Cash back credit cards can provide tangible returns on business spending, effectively offering a discount on every purchase. In a market saturated with options, selecting the ideal card necessitates a detailed examination. Here’s our approach to the selection:
Cash Back Rate (10/10)
The primary concern is the percentage of cash back offered. We prioritize cards that give businesses the highest return on their spending, whether through tiered categories or flat rates.
Redemption Flexibility (9/10)
Earning cash back is valuable only if it’s easily accessible. We emphasize cards that allow effortless redemption, be it statement credits, direct deposits, or checks.
Bonus Categories (9/10)
Some cards offer heightened cash back rates for specific categories like office supplies, dining, or travel. We weigh the utility of these categories for typical business expenditures.
Annual Fee (8/10)
It’s vital to ensure the cash back earned surpasses any annual fee. We appreciate cards where the potential cash back, especially for high-spend businesses, justifies the fee or cards with no annual fee at all.
Introductory Offers (8/10)
Introductory cash back bonuses or promotional APR periods can bolster a card’s initial value. We assess the practicability and appeal of these offers.
Card Acceptance (8/10)
For seamless transactions, cards need to be widely accepted. We spotlight cards that are readily usable across varied merchants and locations.
Additional Perks (7/10)
Features like purchase protection, extended warranties, or travel insurance can greatly augment a card’s value. We incorporate these benefits into our evaluations.
Foreign Transaction Fees (7/10)
For businesses with international dealings, avoiding these fees can mean more savings. We factor this aspect, especially when a card’s appeal extends beyond domestic use.
Selecting the best cash back business credit card is about more than just the direct returns; it’s about the entire package, from fees to additional perks. With our methodology, businesses can discern which card offers the optimal combination for their needs.
Best Cash Back Credit Cards for Business
Can you find small business credit cards that are a perfect fit? We’ve made that easy for you by researching the best cash back cards:
1. Ink Business Cash® Credit Card
If your combined purchases hit the right categories, you’ll be able to earn a whopping 5% cash back with the Ink Business Cash Credit Card: Cash Back | Chase.
- Cashback Rate: This card earns you 5% cash back on up to $25,000 spent in combined purchases from account opening. The $25,000 spent in combined purchases must be office supply stores, internet/cable and phone. What about other purchases? As part of the Chase ultimate rewards, you’ll also get $750 cash back after you’ve spent $7,500 during the first 3 months from account opening; you can earn the $750 again if you spend $7,500 in the next 3 months.
- Annual Fee: $0
- APR: 0% for the first 12 months, then 13.24-19.24% variable after the account anniversary year.
2. Ink Business Unlimited Credit Cash Back Credit Card
If the bulk of your spending, such as office supplies, doesn’t fit the specification of the Ink biz cash credit card, consider the Ink Business Unlimited Cash Back card. You’ll get the same $750 cash back on $7,500 (twice) from account opening, plus an unlimited 1.5% cash back on all purchases.
- Cashback Rate: 1.5% unlimited
- Annual Fee: $0
- APR: 0% for 12 months, then 13.24-19.24% after the account anniversary year.
3. Discover IT
If your business expenses include lots of buys at gas stations, the Discover IT is a good choice. You’ll get 5% back on purchases at gas stations.
- Cashback Rate: You’ll get 5% back on gas purchases and also 5% on Amazon purchases. If you’re making a purchase and choose the Discover IT small business credit card instead of Pay Pal, you’ll earn 5% on that purchase.
- Annual Fee: $0
- APR: 11.99 to 22.99%
4. American Express Blue Business Cash Card
You can earn 2% cash percentge back on up to $50,000 with this business card rewards program from the Blue Business Cash Card from American Express. You’ll get free employee cards and expenditures from those cards will also get the 2% back. You can set a differing credit limit on each employee card.
You’ll get a $250 credit after you spend $5,000 in 6 months, and you’ll get the same $250 credit if you spend $5,000 in the next 6 months.
- Cashback Rate: 2%
- Annual Fee: $0
- APR: 13.24 to 19.24%
5. US Bank Business Platinum Card
The cash percentage earnings rate for the US Bank Business Platinum is a modest 1.5% but look at it this way – you’ll pay no interest for 20 billing cycles. That can result in significant savings, especially on balance transfers. Plus, with a good payment history you’ll be eligible for the low 11.99 APR.
- Cashback Rate: 1.5%
- Annual Fee: $0
- APR: 0% for 20 billing cycles, then 11.99-20.99%
6. US Bank Triple Cash Rewards Mastercard Credit Card
Do you use electric vehicles? You’ll pay no interest for 15 billing cycles, and you’ll earn 3% cash back business credit on purchases at gas and EV stations. You’ll earn the 3% on office supply buys, phone charges and restaurant tabs. If you spend $4,500 in 150 days, you’ll get $500 subtracted from your bill.
- Cashback Rate: 3%
- Annual Fee: $0
- APR: 0% for 15 billing cycles, then 13.99-22.99%
7. Amazon Business Preferred Credit Card
It’s true you can buy nearly everything on Amazon. When you buy from Amazon with the Amazon Business Preferred card you’ll earn 5% back. You’ll also earn 2% back at restaurants. As a sign up bonus you’ll get a $125 Amazon gift card.
- Cashback Rate: 5%
- Annual Fee: $0
- APR: 14.24-22.24%
8. Bank of America Business Advantage Cash Rewards
You can earn 3% back on up to $50,000 in purchases with the Business Advantage card from Bank of America. You can choose a category (such as gasoline or manufacturing supplies) to be used towards the $50,000.
- Cashback Rate: 3%
- Annual Fee: $0
- APR: 12.24-22.24%
Comparison of The Best Cash Back Business Credit Cards
For a quick overview of the best cash back business credit cards, we’ve compiled a comparison table below. It provides a snapshot of the cashback rate, annual fee, APR, and a key benefit or note for each card.
| Card Name | Cashback Rate | Annual Fee | APR | Key Benefit/Note |
|---|---|---|---|---|
| Ink Business Cash® Credit Card | 5% (up to $25,000 in specific categories) | $0 | 0% for 12 months, then 13.24-19.24% | $750 cash back after $7,500 spend in 3 months |
| Ink Business Unlimited Cash Back Credit Card | 1.5% unlimited | $0 | 0% for 12 months, then 13.24-19.24% | $750 cash back after $7,500 spend in 3 months |
| Discover IT | 5% on gas and Amazon purchases | $0 | 11.99 to 22.99% | Earn 5% on specific purchases |
| American Express Blue Business Cash Card | 2% (up to $50,000) | $0 | 13.24 to 19.24% | $250 credit after $5,000 spend in 6 months |
| US Bank Business Platinum Card | 1.5% | $0 | 0% for 20 billing cycles, then 11.99-20.99% | No interest for 20 billing cycles |
| US Bank Triple Cash Rewards Mastercard Credit Card | 3% on specific categories | $0 | 0% for 15 billing cycles, then 13.99-22.99% | $500 off after $4,500 spend in 150 days |
| Amazon Business Preferred Credit Card | 5% on Amazon purchases | $0 | 14.24-22.24% | $125 Amazon gift card as a sign-up bonus |
| Bank of America Business Advantage Cash Rewards | 3% (up to $50,000 in chosen category) | $0 | 12.24-22.24% | Choose a category for 3% cashback |
What is the best business credit card for cashback?
Identifying the best cashback business credit card is a task that largely hinges on the unique spending patterns and needs of a business.
For businesses with significant transportation or shipping needs, a card that offers high cashback on gas, such as the Amazon Business Preferred or the Discover IT, might be ideal, especially with their attractive 5% cash back rate on fuel.
Moreover, the Amazon card provides an additional benefit of 2% back on dining, making it a solid choice for businesses that often entertain clients.
On the other hand, for businesses with diverse spending habits, a more versatile card like the Ink Biz Cash credit card could be a better fit. It offers a generous 5% cash back on combined purchases up to a cap of $25,000.
By understanding the primary expenses and needs of your business, you can choose a cashback card that aligns well and maximizes rewards.
The good news is you can choose from many different types of credit cards, so take your time and thoroughly research the market.
Image: Depositphotos
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