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Saturday, November 7th 2009


Small business credit card comparison chart

By Tamara E. Holmes

Credit cards are the biggest source of financing for small business owners, with 44 percent of small businesses having used credit cards in the past 12 months to help finance capital needs, according to the National Small Business Association's 2008 Survey of Small and Mid-Sized Businesses. And of all types of loan sources for capital financing, credit cards top the list.

One company that specializes in cards for small businesses, Advanta, is shutting down its credit card operations on May 30. However, there are many other options. Here's a list of some of the top available business credit cards, including information on annual fees, interest rates and available rewards*:

Credit Card Annual Fee APR** Rewards
Advanta Net 90 Platinum BusinessCard  None 15.99 percent 90 days interest free on all purchases; unlimited business rewards program
Advanta Platinum Business Card with Double Rewards None 15.99 percent Double points awarded on three spending categories of cardholder's choice; 25,000 points awarded upon first purchase
Advanta Business World MasterCard with WhyWait Points None 16.99 percent Advance of up to 200,000 points when account is opened; 50 percent annual bonus points with on-time bill payment all year
American Express OPEN Business Platinum Card $450 NA; charges due in full each month Access to 950 Internet-equipped Regus business lounges in 400 cities worldwide; airport club access; complimentary membership in car rental programs
American Express OPEN Gold Card First year no annual fee; thereafter $125 per year NA; charges due in full each month Earn 1 membership rewards point for virtually every dollar you spend; prime reserved seats for selected entertainment events, often in advance of public sale through Gold Card Events.
American Express OPEN Plum Card First year no annual fee; thereafter $185 per year NA; charges due in full each month Early pay discount of 1.5 percent if you pay in full within 10 days of cycle; defer payment up to 30 additional days with 10 percent of balance paid
American Express Platinum Business Credit Card None 0 percent introductory rate for six, nine or 15 months; 6.24 percent to 14.24 percent thereafter Earn points toward retail, entertainment and dining rewards; discounts on business shipping and travel
AT&T Universal Business Rewards Visa Card None 0 percent for 6 months; 10.24 percent thereafter Earn 5 points for every dollar you spend on eligible AT&T products and services; earn 3 points for every dollar spent on purchases at certain retailers; and 1 for every dollar spent on other purchases.
Bank of America Platinum Plus for Business MasterCard None 0 percent for 9 months; 11.99 percent or 14.99 percent thereafter Free employee cards with adjustable spending limits, monthly employee spending reports, employee misuse insurance protection.
Bank of America WorldPoints Rewards for Business Visa Card None 0 percent for first 12 months; prime + 6.99 percent or 9.99 percent Earn 1 point for every $1 in net retail purchases; points redeemed for travel with no blackout dates, cash, merchandise and gift certificates.
Capital One Visa Business Platinum None 0 percent until January 2010; as low as 8.24 percent thereafter Employee cards upon request; free year-end summary
Capital One Visa Business Platinum With No Hassle Miles None 0 percent until January 2010; as low as 8.24 percent thereafter One mile per dollar spent on purchases
Capital One Visa Business Platinum With No Hassle Cash None 0 percent until January 2010; as low as 13.24 percent thereafter 1 percent cash back; 25 percent annual cash back bonus on previous year's earnings
Chase Business Rebate Card None 0 percent for first 12 months; 9.24 percent to 18.24 percent thereafter 3 percent cash back on business purchases; 1 percent cash back on everything else
CitiBusiness Card None 0 percent for first 12 months; 7.24 percent thereafter 24-hour personal business assistant service to help with travel arrangements and office management; quarterly and annual summaries
Discover Credit Business Card None 0 percent for first 12 months; 13.99 percent thereafter 5 percent cash rewards on office supplies; double rewards with Discover Partners; 5 to 20 percent cash back bonus at select online retailers
Wells Fargo Business Platinum Credit Card None Prime + 4 percent to prime + 14 percent Points for money spent on business purchases; up to 99 employee cards available
* All terms and conditions are subject to change by issuer.
**Annual percentage rates (APR) are typically variable and subject to change by credit card issuer. Many are based on a formula that includes the prime rate plus a fixed rate set by the issuer. Chart accurate as of Jan. 30, 2009. For corrections or updates, please contact editors@creditcards.com.

See related: Used wisely, small business credit cards prove indispensable, Business credit scores: What they are, how to boost yours, Lower credit limits can hurt consumers' credit scores, How to keep a small business a small business credit limite from being cut, Small business credit cards help balance capital needs, Advanta's credit shutdown endangers cardholders

Updated: June 4, 2009

Three most recent Credit cards for small business owners stories:


Credit Card Rate Report

Updated: 11-07-2009

National Average 12.64%
Business 9.69%
Low Interest 11.91%
Cash Back 12.36%
Reward 12.85%
Instant Approval 13.32%
Balance Transfer 13.46%
Airline 13.60%
Bad Credit 14.29%
Student 14.45%

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