7 Best Personal Credit Cards for Business Expenses 2022

Cody Cromwell
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U.S. Bank Cash+ TM Visa Signature®: Overall Best Personal Credit Card for Business Expenses

U.S. Bank Cash+ TM Visa Signature® Costs

U.S. Bank Cash+ TM Visa Signature® Card Rewards

U.S. Bank Cash+ TM Visa Signature® Additional Features

U.S. Bank offers one of the most generous bonus rewards on the Cash+ Visa card. The rewards are broken into several categories. Check the terms and conditions on the specific card regarding the terms and conditions. The Cash+ reward structure is as follows:

Aforementioned reward categories are often referred to together as the Cash+ "core rewards" program. The core rewards also include the Cash+ "Airpoints" bonus if your account is also enrolled in the U.S. Bank Altitude Reserve Card®.

The Cash+ card does have a few negative aspects that U.S. Bank needs to address. Firstly, is the Cash+ Visa card not eligible for U.S. Bank's U.S. Bank Customer Advantage rewards is likely to be the most significant on the qualifications list. Simply put, if your credit history is not consistent, you might be best served by a card with a generous signup bonus, such as the Capital One Venture® Rewards Credit Card, the Capital One Spark® Cash for Business or the Chase Sapphire Preferred® Card.

Discover it® Cash Back: Best for Doubling First-year Rewards on Gas and Wholesale Clubs

Discover it® Cash Back Costs

Discover it® Cash Back Rewards

This card allows you to earn Cash Back rewards on every purchase. With no annual fee, you can earn 5% cash back in rotating categories quarterly (you can check out the current offers here). And new members can earn an initial cash back bonus of 5% on their first purchase.

This is a great card for those of you who like to make lots of purchases. While 5% cash back may not seem like a lot at first, the signup bonus and quarterly incentives really rack up your cash back quickly.

If you like to holiday shop, the Discover it Cash Back is a great card to have in your wallet.

The Discover it Cash Back card is a great card for shopping for new and used items. The cash back rates are 3% at restaurants, gas stations, grocery stores, and wholesale clubs. And 1% on all other purchases. If you do a lot of your shopping online and in store, you might find the 1% rate to be a bit low.

The card also comes with a number of other benefits, including extended warranties, price protection, and travel accident insurance. All in all, this card might be a good fit for you if you spend quite a bit on groceries, dining, or traveling.

Discover it® Cash Back Additional Features

American Express Blue Cash Preferred® Card: Best for 6% Cash Back on Food Expenses

American Express Blue Cash Preferred® Card Costs

American Express Blue Cash Preferred® Card Rewards

American Express Blue Cash Preferred® Card Additional Features

Chase Freedom Unlimited®: Best for Unlimited Flat-rate Cash Back Rewards

You can apply for the Chase Freedom Unlimited® credit card and earn unlimited 1.5% cash back on every purchase, every day. The card has no annual fee and no foreign transaction fees.

Business owners, especially small business owners, should know that a credit card can be a useful tool if used responsibly. Business credit cards can help business owners earn cash back while paying for business expenses, which can effectively help businesses earn and save more money, which can in turn help you keep your business operational.

Chase Freedom Unlimited card is a flat-rate cash back credit card that offers unlimited cash back rewards No matter how you use it, this card can help you save time and money.

Since the card doesn’t charge a fee on business purchases, it’s a good card to use if you don’t plan to carry a balance since you can earn more cash back with lower spending limits if you pay your balance off in full each month.

Also, if you have a few business cards, you can easily manage them all by using a single card. Rather than trying to manage numerous cards, it’s much easier to fit into your wallet, which means you’re able to carry fewer cards while still maintaining ease of use and avoiding unnecessary risks.

Chase Freedom Unlimited® Costs

Chase Freedom Unlimited® Rewards

Chase Freedom Unlimited® Additional Features

Chase Sapphire Preferred®: Best for Flat-rate Travel Rewards and Large Sign-up Bonus

Chase Sapphire Preferred® Costs

Chase Sapphire Preferred® Rewards

Chase Sapphire Preferred® Additional Features

Chase Sapphire Reserve®: Best for Premium Travel Benefits and 10x Points on Lyft Rides

Chase Sapphire Reserve® Costs

Chase Sapphire Reserve® Rewards

Chase Sapphire Reserve® Additional Features

Citi® Double Cash: Best for 18-month 0% APR on Balance Transfers

You can earn a real return from your credit card balance transfers, but you have to be willing to put in the effort to manage your debt and take advantage of a real interest free period. Paying off outstanding balances with the right balance transfer card can actually significantly boost your credit score. If you take on too much debt, you can actually do significant damage to your credit score, so the right balance transfer credit card is most important to consider. The right balance transfer card can be a great way to make sure you’re dealing with debt of manageable size.

For credit cards to be successful, they have to be easy to use and have features that maximize the Benefits, and minimize the Cost. Once you choose the right balance transfer card, you can focus on paying your Finance Charges, and avoid getting hit with Over Limits or Overdraft Fees. With a good balance transfer credit card, you never have to charge an interest-related fee on your transfer balance. The Citi® Double Cash will always earn a real return on your balance transfer fees, and if you transfer a balance charged at a high interest rate, you’ll be able to pay off your card before the end of your Free Period. And there’s no need to worry about interest rates stalling out when your Free Period expires. Your card will continue to earn Real Cash back.

Citi® Double Cash Costs

Citi® Double Cash Rewards

In case you missed this post last week – This is THE card for small business owners or anyone with a side hustle and/or entrepreneurial spirit.

Here's why:

Apply online. The online application is easy, quick, and painless. In under 10 minutes, you can be approved for this card. And with 90% of the balance due in full every month, you are 100% responsible for your spending. No late fees. It allows you to earn cash back twice, with no annual fee and no transaction fee, and you never have to worry about how many points you earned. In fact, you earn 2% back when you use the card in the first 7 months, then earn an additional 1% back for the next year. It's hassle-free and all you have to do is swipe to your heart’s content.

Citi® Double Cash Additional Features

If you have no idea about credit cards, you must be wondering about the difference between a debit card and a credit card.

Well it would be more appropriate to say that the purpose of a debit card and a credit card is the same – but they just come with different features!

A debit card provides access to money in your savings account or on your checking account, and is most commonly associated with debit cards of major banks. However, there are also debit cards from small banks that can become a credit card with the right limits. Regardless of your location, it’s always good to have a debit card because it provides you with immediate access to your money.

There are many benefits of having a debit card. One of the main benefits of a debit card is to easily shop online. When using a debit card for online shopping, you don’t have to wait for a check to clear your account. You can even use a debit card to pay for online purchases.

Debit cards can also help you with your day-to-day bills. For example, you can use a debit card to pay for grocery bills. Doing this online is an easy way to process your bills.

How We Evaluated the Best Personal Credit Cards for Work Expenses

A personal credit card can truly help you save time, money, and hassle when it comes to your small business credit card spending.

Finding the best personal credit cards that best fit your needs is often difficult. One of the biggest incentives of credit cards is being able to earn extra rewards on business expenses you’ve already paid for. But knowing which card to choose can be like trying to find your way in a forest. With the right credit card for business expenses and the relevant rewards program, you can save money, earn frequent flier miles and hotel points, and more.

We did the legwork for you and reviewed 7 of the best personal credit cards for business expenses, using the following criteria:

  • Credit Score
  • Ease of Obtaining and the balance that is available on your credit card
  • Rewards Program
  • How the rewards program is structured and its relation to the spending categories of the card
  • Fees
  • The fees that come with a card
  • Rewards
  • How you can earn and redeem status, airline and hotel points

The final evaluation score is awarded by the amount of points and miles a card offers you to redeem for a particular reward.

Personal Credit Card vs Business Credit Card

A personal credit card is the preferred method of payment for most people, but it won't work for business expenses. In these instances, it's best to use a business credit card or a debit card to cover business expenses. A personal credit card can usually be cancelled once your business has been established, but this is less of an issue with a business credit card because it can be paid off.

A business credit card only allows purchases to be made in your own name, and prevents anyone else from buying items in your name. This makes it an extremely useful tool, but one that's disappointing when the statements are in someone else's name. For these reasons, it's important to use a business credit card when you have business expenses to cover.

If you prefer to use a debit card for your business expenses, you can set this up via PayPal, basically 'debiting' your account to cover business expenses. You can find more details here .

Bottom Line

The Lending Club IRA is currently offering the Low APR Plus Fixed, 5.750% APY for 1-Year Certificate to new investors. This is currently the lowest APY a personal loan option available today. Even then, there’s limited months with the current 5.750% APY on the Fixed Term certificate, making it a good time to invest. Currently, there are only 14 months available with this APY, making it a get in while you can kind of investment.

The main downside to incorporating this type of debt into an IRA is that there’s a 24-month payout delay. With a non-IRA, you’re able to pay yourself back and have the physical money immediately, but the IRA will take up to 24 months to pay itself back. This is by design for retirement saving purposes.

As mentioned before, this makes this loan option a good time to invest. While businesses offer very competitive APYs, in tax-advantaged accounts they can offer returns of 7-8% APY. At the time of this article, the Lending Club loans were providing an APY of 6.800%, slightly better than the current 5.875% APY on the IRA. As interest rates rise in the future, this margin will shrink, putting extra pressure on future APYs.