Which is the Best Business Credit Cards? Citi vs Wells Fargo vs U.S. Bank vs Chase Business Credit Card
Having a business credit card is crucial to the stability of small businesses. Many startup businesses rely upon using personal finances in order to secure reliable funding.
Business credit cards are effective and reliable ways to establish positive credit, making it possible to get better loan rates for future expansion, supplies, and general upkeep.
Whether you decide that a Chase business credit card or a Citibank business credit card is right for you, having a reliable line of credit can help your business thrive.
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The benefits to using business credit cards instead of personal credit cards are often tailored to specifically help small businesses.
These benefits can include things like higher spending limits, employee cards, spending controls, and specialty services. Understanding these benefits can enable small businesses to use business credit cards as financial tools.
As a result, the various perks that come with business credit cards can easily be implemented into budgets and various business strategies, turning a business card into a beneficial financial tool.
With so many available options, it can be difficult to determine which business credit card is the right choice.
In order to help identify the best business credit cards, our review will provide a thorough analysis of the top-rated business credit cards that are currently available. This includes answering what the top-rated cards are from each of the following banks:
- Citibank business credit card
- Wells Fargo business credit card
- U.S. Bank business credit card
- Chase business credit card
In answering each of these questions, we will also provide an expert analysis of the unique advantages and disadvantages that come with the best business credit cards from each of these banks.
By taking an in-depth look at each and every top-rated business credit card, our review will better enable small business owners to make informed, expert choices when choosing the right business card for them.
What Is the Best Citibank Business Credit Card?
Opening a CitiBusiness® credit card online could be the first step to financial stability for your small business. Photo courtesy of: NerdWallet
The most popular and top-rated Citibank business credit card is the CitiBusiness® credit card. Not only can you easily apply for the CitiBusiness® credit card online, but it also offers some substantial rewards for businesses who choose a Citibank small business credit card.
When looking for a Citibank business credit card, the best card to consider is the CitiBusiness® credit card.
Advantages & Disadvantages of the Citibank Business Credit Card
As a Citibank business credit card, the CitiBusiness® credit card is also known as the AAdvantage® card. Citibank has partnered with American Airlines to provide a Citibank small business credit card that helps businesses capitalize on their travels. Choosing this Citibank business credit card offers the following advantages:
- Enhanced earnings for airline miles
Businesses that use their Citibusiness® credit card online or in stores have the opportunity to earn a bonus of 30,000 miles through American Airlines. The only requirement to be eligible for this bonus is to spend $1,000 on the CitiBusiness® credit card within the first three months.
- No foreign transaction fees
As a fitting supplement to enhanced travel benefits, this Citibank business credit card also offers zero foreign transaction fees. If business travels take your business across the world, this is a terrific benefit.
- Waived annual fee
New cardholders for the Citibank business credit card can expect to have the $95 annual fee waived for the first 12 months of use.
Although there are certainly a handful of benefits when using the Citibank small business credit card, there are certainly some potential drawbacks, as well.
This Citibank business credit card can have the following disadvantages:
- Rewards primarily centered on travel
If your business doesn’t utilize domestic or foreign flights, there are no real advantages to having the CitiBank business credit card. Additionally, flight rewards are restricted to only American Airlines.
- No spending limits
While account holders have the ability to check their Citibusiness® credit card online for balances and activity, there is no feature that puts spending limits on employee cards.
Review of the Citibank Business Credit Card
The airline benefits for this Citibank small business credit card are some of the best available. The CitiBusiness® credit card allows for enhanced airline benefits, including a 7,500 mile discount when using earned miles and a 5% bonus at the end of the year.
For businesses looking to use a Citibank business credit card for air flight travel, the CitiBusiness® credit card is a perfect match.
The biggest advantage to this Citibank business credit card is also its biggest disadvantage. If your business does not travel often — or prefers to use carriers other than American Airlines — then the Citibank business credit card is not a good option.
As a highly specialized credit card, the Citibank small business card is simply not designed to accommodate each and every business, but it is definitely worthwhile for those who fall into its niche.
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What Is the Best Wells Fargo Business Credit Card?
Depending upon your business needs, a Wells Fargo business credit card may be the best option to establish a reliable and rewarding line of credit. Photo courtesy of: Credit.com
For small businesses looking to open a line of credit through Wells Fargo, the best option for a Wells Fargo business credit card is the Business Platinum credit card.
Geared specifically toward small businesses, this Wells Fargo business credit card offers small businesses the opportunity to better manage their finances.
When analyzing the Business Platinum Wells Fargo business credit card, the most important thing to consider is how the credit card can benefit your business.
Advantages & Disadvantages of the Wells Fargo Business Credit Card
Looking for a credit card that best benefits your business means focusing on the inherent perks and rewards that the Wells Fargo business credit card can offer. Businesses that choose to use the Business Platinum Wells Fargo business credit card can expect the following advantages:
- Choose Between Rewards Points or Cash Back
Businesses with a Wells Fargo business credit card have two options when it comes to their credit card perks.
The Rewards Points program awards one rewards point for every $1 spent. The Business Platinum Wells Fargo business credit card also offers an additional 1,000-point bonus for every billing period with more than $1,000 spent.
The Cash Back Advantage program gives back 1% cash each quarter. Additionally, $1,000 each month earns a $10 cash back reward with the Wells Fargo business credit card.
- Numerous Point Redemption Options
Points earned with the Wells Fargo business credit card can be redeemed for gift cards, airline tickets, merchandise, cash, and even charitable contributions.
- $0 Annual Fee
Small businesses will be happy to know that this Wells Fargo business credit card offers an impressive $0 annual fee, making a line of credit much easier to manage.
Though there are certainly some great advantages to be seen while using the Business Platinum Wells Fargo credit card, there are a few disadvantages, too. Small businesses who choose the Wells Fargo business credit card should consider the following disadvantages:
- $50 Enrollment Fee for Rewards Programs
While the Wells Fargo business credit card does offer two different rewards options, enrollment costs $50 each year. Although the first year it is waived, this expense may diminish the overall value of the Wells Fargo business credit card.
- Balance Transfers Not Allowed
While some business credit cards allow for balance transfers, the Wells Fargo business credit card does not.
Review of the Wells Fargo Business Credit Card
Overall, the Wells Fargo business credit card does offer a few great rewards. Small businesses will certainly benefit from the $0 annual fee, a particularly rare component. Another great feature is the ability to choose between two different rewards plans.
Businesses that are considering a Wells Fargo business credit card should also consider that, although the annual fee is lower than most, the fee for the rewards program is less than ideal.
For those looking for credit card perks that come fee-free, the Business Platinum Wells Fargo business credit card may not be the best option.
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What Is the Best U.S. Bank Business Credit Card?
U.S. Bank is known nationally for offering great business credit card products for new and expanding businesses. Photo courtesy of: U.S. Bank
There are a few options to consider when looking for a U.S. Bank small business credit card, though the most popular option is the Business Edge Cash Rewards card. Compared to other credit card products, this U.S. Bank business credit card offers the best benefits, rates, and overall business savings.
Advantages & Disadvantages of the US Bank Business Credit Card
As a nationally recognized bank, a U.S. Bank small business credit card can offer much more than widespread access. The Business Edge Cash Rewards card carries a few innate advantages that small businesses can truly benefit from. Businesses that choose this U.S. Bank business credit card will find the following advantages:
- Low APR Introductory Rate
The Business Edge Cash Rewards card offers a remarkably low introductory rate of 0% for the first 9 months of use.
- No Annual Fee
To add to the overall affordability of the card, this U.S. Bank business credit card offers zero annual fees, making a business line of credit both affordable and hassle-free.
- Cash Back on Business-Related Purchases
Choosing this U.S. Bank business credit card means getting 3% cash back on cellular, gas, and office supply purchases.
Despite the advantages of this U.S. Bank small business credit card, there will be a few disadvantages, as well. Businesses looking to use the Business Edge Cash Rewards card should be aware of the following disadvantages:
- High Credit Scores Are Needed for Approval
In comparison to other business credit cards, the U.S. Bank business credit card requires a higher credit score to ensure approval. Businesses that are extremely new, with little or no credit history, may find approval difficult.
- Foreign Transaction Fees
The Business Edge Cash Rewards card charges a 3% foreign transaction fee, so businesses that have international clients may want to avoid using this business credit card.
Review of the U.S. Bank Business Credit Card
The low APR rate, low annual fee, and increased cash back rewards make the Business Edge Cash Rewards card into a desirable option for small businesses. This U.S. Bank business credit card makes it relatively easy to enjoy its benefits, as long as business expenses primarily revolve around office supplies, gas, and cellular bills.
Small businesses may want to consider their credit score before applying for the U.S. Bank small business credit card. This is good practice before getting any credit card, but particularly for a business line of credit through U.S. Bank, as they have been shown to have higher credit requirements.
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What Is the Best Chase Business Credit Card?
Calling the Chase business credit card phone number is a fast and easy way to get more information on the Chase credit card for business expenses. Photo courtesy of: Bound to Explore
A Chase business credit card is certainly a popular option, as Chase has long been a provider for personal and business lines of credit. When considering a Chase small business credit card, one top-rated card to consider is the Chase Ink Plus® card.
When looking for a Chase small business credit card, the best card to consider is the Ink Plus® Chase business credit card.
Advantages & Disadvantages of the Ink Plus® Chase Business Credit Card
The Ink Plus® Chase business credit card is specifically formatted to benefit small businesses, with a wide array of various perks and programs. With one of the best introductory offers out there, the Ink Plus® Chase business credit card offers a free 60,000 points if you spend $5,000 in the first three months.
Even after the introductory period, this Chase small business credit card offers some competitive advantages, making the Chase business credit card phone number a handy addition to any small business’s phone book. Small businesses that use the Ink Plus® Chase business credit card will benefit from the following ongoing advantages:
- Points Earned on Each and Every Purchase
The point system for this particular Chase small business credit card covers any and all purchases, and cash back differs for each and every purchase.
The first $50,000 spent on the Ink Plus® Chase business credit card allows for 5 points for each $1 spent on office supplies and bills for phone, internet, and cable. It also allows for 2 points per $1 spent at gas stations and hotels.
After the $50,000 limit is reached, all purchases gain 1 point for every $1 spent, with no limitations.
- Multiple Ways to Redeem Points
With the Ink Plus® Chase business credit card, points can be redeemed for travel, gift cards, cash, or online shopping. 2,000 points is equal to a $20 cash back value.
- Access to Ink App
This downloadable app makes it easy for small businesses to keep track of and manage purchases on their Chase business credit card. Additionally, it allows users to download receipts and create various reports.
For those who prefer not to use an app, the Chase business credit card phone number allows easy access to customer service and support.
Despite carrying a comprehensive list of benefits, there are some potential drawbacks to the Ink Plus® Chase business credit card. Some possible disadvantages include:
- May Be Difficult to Accrue Points
If your business doesn’t use the Ink Plus® Chase business credit card for the specified categories, this may not be the best choice.
- High Annual Fee
The fee for this Chase business credit card expenses is $95, a relatively high figure which could be a deterrent for smaller businesses looking to save money.
Reviews also tend to point out that you are most likely to reap the benefits from this Chase credit card for business expenses if your spending falls between $20,000-$50,000 annually.
Review of the Ink Plus® Chase Business Credit Card
Financial experts and business owners alike offer glowing reviews for the Ink Plus® Chase business credit card. In fact, the financial experts at NerdWallet named it “the best business credit card out there.” By far, the most commonly highlighted features are the vast ability to earn and redeem points when using the Chase credit card for business expenses.
If your small business spends a significant amount of money on office supplies, cable/phone services, hotel stays, and gas allowances, the Ink Plus® Chase business credit card will enable you to earn maximum points. For businesses that plan on using their Chase small business credit card for these sorts of purchases, the Ink Plus® Chase business credit card is the best option.
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Conclusion
With small businesses and startups on the rise, the demand for beneficial and affordable business credit cards will continue to increase. A 2012 study from the National Small Business Association found that 31% of small business owners utilized credit cards in order to help finance monetary needs throughout the year.
In fact, after their first 5 years of operation, more than 80% of small businesses will get a business credit card.
Nearly all small businesses will need to open a business line of credit at some point during their operation, and luckily, business credit cards are there to make financial management an attainable and affordable goal. Our review provides expert and thorough analysis for the top-rated business credit cards that are currently available.
Whether you are looking for a Chase business credit card, a Wells Fargo business credit card, a Citibank business credit card, or a card from U.S. Bank, the key is to make an informed decision.
By reading our in-depth review of the best business credit cards, each and every consumer will find themselves well-prepared to make the best financial decisions for the future of their business.
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