Having business credit cards can be a great way to boost the points you earn. The cards often have great welcome bonuses, unique bonus categories (sometimes up to 5x points), and useful perks. This is an area where we’ve seen tons of improvements lately in terms of the bonuses and general value proposition of cards.
Often people are worried about applying for small business credit cards. They assume that they can only apply for a business card if they have a business that has been around for a long time with significant revenue, but that’s not the case at all.
I’d say the two most compelling business card welcome bonuses right now are on Chase cards:
- The Ink Business Preferred® Credit Card offers a welcome bonus of 100,000 Ultimate Rewards points after spending $8,000 within three months, which I consider to be the best welcome bonus available on any card at the moment; the card also has great bonus categories and an unrivaled cell phone protection plan
- The no annual fee Ink Business Cash® Credit Card has an excellent welcome offer, as it’s offering 90,000 points after spending $6,000 within three months (in conjunction with other cards, those points can be converted into airline miles or hotel points)
I’ve written separate posts about who is eligible for Chase business cards, and about how you should fill out a Chase business card application. A reader just sent me a success story about his first business card application, which I wanted to share, in hopes of others being inspired to jump into the world of business cards as well. Reader Michael sent me the following message:
Lucky, I just wanted to thank you and let you know that I just applied for my first business card and got approved. I own a rental home and never realized that qualified me for a small business card but I finally applied. I wasn’t instantly approved but I just waited on a response and after two days received an email saying my application had been approved. Thanks to your tips I’ll be 50,000 points richer and have a card I can add to my spend rotation.
It’s always great to hear from people who get their first business card, especially those who may have otherwise been skeptical before. Assuming you have a small business (even if it’s not incorporated, and you’re just selling stuff online on the side), you’re really missing out on half the value you can get out of credit card points if you’re only getting personal cards.
With the big welcome bonus on the Ink Business Preferred® Credit Card, as well as the welcome bonus on the Ink Business Cash® Credit Card, you can’t go wrong with picking up either or both of those cards.
If you want to try your first business card application, there’s also very limited downside to applying. Typically business card applications won’t even be reported to your personal report, so there’s likely to be no impact on your credit score at all (and worst-case scenario your score would temporarily be pinged a couple of points for the inquiry).
Has anyone applied for a business card for the first time recently? What was your experience like?