The Best Personal Credit Cards For Business Expenses

credit cards for startups

If you’re launching a new business, you may naturally be attracted to the idea of getting a business credit card to use for your business expenses. And why not? “Business” is right there in the name.

However, there are a number of reasons why you might want to go with a personal credit card instead, especially when getting your startup off the ground. For one thing, the CARD Act of 2009 regulates personal credit cards. By law, personal credit card providers can’t jack up your APR overnight or charge excessive fees for minor infractions. While most credit card companies extend these safeguards to business credit card holders as a courtesy, many do not. Similarly, introductory rates associated with personal credit cards must be offered for the first six months. Not so with business cards.

What’s more, the incentive programs associated with personal credit cards may be more fitting for your needs than the rewards associated with business credit cards. Your startup likely does not yet need a large office, for example, so a business card that offers discounts on office supplies probably doesn’t hold any special appeal.

Let’s take a look at the best personal credit cards for entrepreneurs.

General Cash Back Cards

Most embryonic businesses will want to select a personal credit card with a solid, all-purpose rewards program. The following cards can help you maximize your profits on the everyday purchases you make for your budding business, whether you’re spending on gas for your car, paint for your office, printer paper, or new-client lunches.

Chase Freedom Unlimited

For entrepreneurs who require flexibility in a credit card, the Chase Freedom Unlimited card is an ideal choice. It’s a flat-rate cash-back card, so there are no bonus categories — you get cash back on all purchases, and you are allowed great flexibility in how you redeem your rewards.

Chase Freedom Unlimited
credit cards for startups
Annual Fee $0
APR Variable, 16.24% – 24.99%
Signup Bonus $150 if you spend $500 in the first three months
Rewards Automatic 1.5% cash back on all purchases
Can use your rewards to book travel with Chase
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The Chase Freedom Unlimited card has no annual fee, and you also get an introductory 0% APR for the first 15 months. (Unfortunately, there is a 3% foreign transaction fee.)

When you’re starting a new business, you may find yourself making all manners of unexpected purchases. To this end, the Chase Freedom Unlimited credit card automatically gives you 1.5% cash back on all purchases. You won’t have to keep track of the categories your purchases fall into; everything is covered. And you can redeem for cash back in any amount you wish — there’s no minimum redemption.

Your redemption options continue from there. Beyond getting a statement credit or a direct deposit to your checking or savings accounts, you can also redeem your rewards by booking trips through Chase’s travel portal, which is great if your startup has you shuttling around. And if you use the Chase Freedom mobile app, you can redeem your rewards at certain participating stores.

If you have other Chase cards, you can also transfer rewards to them to take advantage of their particular redemption options.

All in all, Chase Freedom Unlimited is a very versatile card.

US Bank Cash+ Visa Signature

This is another card with versatility up the wazoo. Want to pick your own bonus categories to fit your startup? The US Bank Cash+ Visa Signature card might be the one for you.

US Bank Cash+ Visa Signature
credit cards for startups
Annual Fee $0
APR Variable, 15.24% – 24.24%
Signup Bonus $150 if you spend $500 in the first 90 days
Rewards 5% cash back on two categories of your choice ($2,000 purchase limit per quarter)
Unlimited 2% cash back on an everyday category of your choice (gas, groceries, restaurants, etc)
1% cash back on all other net purchases
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The US Bank Cash+ Visa Signature card has no annual fee, though the introductory 0% APR for the first 12 months only applies to balances transferred within 60 days of opening the card.

Here’s where the versatility comes in: You’ll get 5% cash back on the first $2,000 worth of purchases per quarter in two categories of your choosing. According to US Bank, category options are subject to change on a quarterly basis, but as of January 2018, these categories are:

  • Ground Transportation
  • Select Clothing Stores
  • Cell Phones
  • Electronics Stores
  • Car Rentals
  • Gyms/Fitness Centers
  • Bookstores
  • Fast Food
  • Sporting Goods Stores
  • Department Stores
  • Furniture Stores
  • Movie Theaters

Furthermore, you’ll get unlimited 2% cash back on one “everyday” category of your choosing:

  • Gas Stations
  • Groceries
  • Restaurants

Lastly, all other eligible net purchases earn 1% cash back.

Unfortunately, you’ll have to remember to log in to choose new bonus categories every quarter. Also, the cash rewards expire after three years, you can’t transfer the cash to other rewards programs, and there is a 3% foreign transaction fee. The credit score requirements are pretty steep as well. On the plus side, there are no limits on the total amount of cash back you can earn and no minimum redemption amount.

Capital One Quicksilver

The Capital One Quicksilver Cash Rewards card is a good option for the new business owner whose expenses don’t fit neatly into approved categories.

Capital One Quicksilver Cash Rewards
credit cards for entrepreneurs
Annual Fee $0
APR Variable, 14.24%-24.24%
Signup Bonus $150 if you spend $500 in the first three months
Rewards Automatic 1.5% cash back on all purchases
50% back as a statement credit on your monthly Spotify Premium subscription (runs through April 2018)
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The Capital One Quicksilver Cash Rewards card bears some similarities to the Chase Freedom Unlimited card. There’s no annual fee, and you’ll get a 0% intro APR for 9 months. It’s a shorter 0% APR period than that provided by some other cards, however.

This is another card for those who can’t be bothered keeping track of rotating categories of rewards-eligible purchases. The Capital One Quicksilver will see you earning unlimited 1.5% cash back on all purchases, with no caps on how much you earn and no minimum redemption thresholds.

If you like to have music on while in the office (whether that office is an actual office space or your living room), you’re in luck. From now through April 2018, you’ll get 50% back as a statement credit on your Spotify Premium subscription. Keep on rockin’ in the fee world!

(See what I did there? Do you think that was tweet-worthy?)

One advantage this card has over Chase Freedom Unlimited is that Capital One Quicksilver has no foreign transaction fee. On the downside: the card carries a 3% balance transfer fee.

Discover it – Cashback Match

Let’s say you’re an entrepreneur who makes a lot of purchases through Amazon or wholesale clubs. You might want to consider the Discover it – Cashback Match card.

Discover it – Cashback Match
credit cards for startups
Annual Fee $0
APR Variable, 12.24% – 24.24%
Signup Bonus Discover will match all the cash back you earn at the end of your first year
Rewards 5% cash back on rotating bonus categories, changing quarterly
1% cash back on all other purchases
Rewards are usable at the Amazon.com checkout
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In addition to the above, you’ll get an introductory 0% APR on both purchases and balance transfers for the first 14 months.

With this card, you can get 5% cash back on rotating bonus categories on your first $1,500 spent per quarter. Discover’s bonus categories for 2018 are:

  • Q1 2018: Gas stations and wholesale clubs
  • Q2 2018: Grocery stores
  • Q3 2018: Restaurants
  • Q4 2018: Amazon.com and wholesale clubs

With Discover matching all the rewards you earn over the first year, you should accumulate a healthy supply of cash back. You can put that cash back to use in the following ways:

  • Pay with rewards at the Amazon.com checkout
  • Gift cards with at least $5 added to each
  • Deposit to your bank account or apply to your Discover credit card bill
  • Make a charitable donation

It’s not a spectacular card for the frequent flyer (though there is no foreign transaction fee), but for the land-bound entrepreneur who doesn’t mind keeping track of the rotating categories, the Discover it – Cashback Match card provides plenty of value.

Travel Cards

Not all entrepreneurs need to travel for business, but for those who do, a travel rewards program can be a godsend. The following personal credit cards can help you maximize your current travel spending and earn valuable points towards any future hotel stays, flights, and car rentals you’ll book as your business continues to grow.

American Express Premier Rewards Gold Card

Here’s a great card for the entrepreneur who travels a lot: the AmEx Premier Rewards Gold card.

AmEx Premier Rewards Gold
credit cards for entrepreneurs
Annual Fee $0 for the first year, $195 subsequently
APR N/A (charge card)
Signup Bonus Make $2,000 in purchases within the first 3 months and get 25,000 rewards points
Rewards $100 annual airline fee credit for incidental fees
3 reward points per dollar when you book a flight directly with an airline
2 points per dollar at gas stations, supermarkets and restaurants in the US
1 point per dollar on all other purchases
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Keep in mind that this is a charge card, not a traditional credit card. In other words, you’ll have to pay the entire balance every month.

If your startup has you going to and fro, you’re in luck, because this card’s rewards are tailored to the frequent traveler and will easily offset the $195 annual fee that kicks in the second year. First off, there’s a juicy signup bonus: you’ll earn 25,000 rewards points if you make $2,000 in purchases within the first three months of signing up (terms apply).

The big rewards come when you book flights. You get three reward points per dollar when booking a flight — the only drawback is that you’ll have to book the flight directly with the airline, and airline websites suck (the prices are higher, too). You’ll get a further two points per dollar at US gas stations, supermarkets and restaurants, and one point per dollar on all other purchases.

Another factor for the frequent-flying entrepreneur to consider is that the Premier Rewards Gold has no foreign transaction fee. Of course, American Express is less accepted internationally than Visa and Mastercard, so you’ll want to carry a backup card when traveling.

Capital One Venture Rewards

Here’s another card from Capital One — this one’s a versatile travel card for the entrepreneur on the go.

Capital One Venture Rewards
credit cards for startups
Annual Fee $0 for the first year, $95 subsequently
APR Variable, 14.24% – 24.24%
Signup Bonus Earn 50,000 miles once you spend $3,000 on purchases within the first three months (equal to $500 in travel)
Rewards Earn two miles per dollar on every purchase
Use your miles to fly any airline and stay at any hotel
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The Venture card is designed to immediately reward the frequent traveler. Earn the equivalent of $500 for travel after spending $3,000 on purchases in the first three months. After that point, you’ll earn unlimited 2x miles per dollar on all purchases. This means that if you rack up $500 in charges on your card in a given month, you’ll get 1,000 miles that month. Not too shabby!

The Venture gives you a great deal of flexibility in how you use your travel rewards. You can either book flights, hotels, and rental cars directly through Capital One or you can book these things anywhere you like and use the company’s Purchase Eraser tool to get a statement credit for what you spent. This way, you won’t be locked into using a particular airline or hotel chain or booking site.

Unfortunately, if you want to redeem your miles for cash back or non-travel purchases, they will be worth half of what they would be worth if applied to travel purchases. Thankfully, the card has no international transaction fees. Plus, there are no blackout dates, no expiration dates, and no limits on the number of miles you can accrue.

Chase Sapphire Preferred Card

Here’s a travel-oriented card that might be even more flexible than the Venture: the Chase Sapphire Preferred card.

Chase Sapphire Preferred
credit cards for entrepreneurs
Annual Fee $0 for the first year, $95 subsequently
APR Variable, 17.24% – 24.24%
Signup Bonus Get 50,000 bonus points after spending $4,000 on purchases in the first three months ($625 when redeemed through Chase Ultimate Rewards)
Rewards Two points per dollar on travel and restaurants
One point per dollar on all other purchases
Get 25% more value for your points when making travel purchases through Chase Ultimate Rewards
Transfer your points to leading airline and hotel loyalty programs on a 1:1 basis
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The Chase Sapphire Preferred card comes with some sweet bonuses. Not only will you get 50,000 bonus points after spending $4,000 on purchases in the first three months, but you’ll also get another 5,000 bonus points if you add an authorized user in those first three months and they make a purchase.

With this card, not only do you get two points per dollar when spending on travel and restaurants and one point per dollar on all other purchases, but you can transfer your points — on a 1:1 basis — to the following airline and hotel loyalty programs:

Airlines

  • Air France/KLM
  • British Airways
  • Korean Air
  • Singapore KrisFlyer
  • Southwest
  • United
  • Virgin Atlantic

Hotels

  • Hyatt
  • Marriott
  • Priority Club/InterContinental Hotels Group
  • Ritz-Carlton

What’s more, your points will be worth $0.0125 apiece if you redeem them for travel booked through Chase Ultimate Rewards. There’s no foreign transaction fee, either. You will have to pay a $95 annual fee after the first year, though.

Citi/AAdvantage Executive World Elite Mastercard

This next card isn’t for everyone, but the well-heeled flight-hopping entrepreneur with something to prove should enjoy the Citi/AAdvantage Executive World Elite Mastercard.

Citi / AAdvantage Executive World Elite Mastercard
credit cards for entrepreneurs
Annual Fee $450
APR Variable, 16.99% – 24.99%
Signup Bonus Get 50,000 American Airlines AAdvantage bonus miles after you spend $5,000 in purchases in the first three months
Rewards Admirals Club membership for you and your guests
Earn 10,000 AAdvantage Elite Qualifying Miles after you spend $40,000 in purchases within the year
Earn two AAdvantage miles for every dollar spent on eligible American Airlines purchases and one AAdvantage mile for every dollar spent on other purchases
First checked bag is free on domestic AA flights for you and eight companions
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For the entrepreneur with the means to get around in style, the Citi/AAdvantage Executive World Elite Mastercard has quite the bag of perks. From the 50,000 AAdvantage bonus miles if you spend $5,000 within the first three months to the automatic Admirals Club membership (a $550/year value) to the AAdvantage miles you’ll be racking up, this card brings significant value the table. However, that value doesn’t come cheap — note the eye-popping $450 annual fee! If you really want that Admirals Club membership, however, it’s a cost-effective way of getting it.

For this card to be worth it for you, you have to be a frequent American Airlines flyer with a burning desire to hang out in AA Admirals Club lounges. If you spend a big chunk of your life in airports and want to get away from the hoi polloi, this card gives you the opportunity to pay for that privilege. You’ll also get 25% savings on in-flight purchases, a $100 credit for the TSA PreCheck program every 5 years, and the absence of a foreign transaction fee.

Final Thoughts

Entrepreneurs deserve a credit card that fits their particular needs. For many, a personal credit card can do the job just fine, and with greater legal protections. If it’s a business card you’re after, check out our piece on the best business credit cards for 2018.

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