The Best Business Credit Cards For the Traveling EntrepreneurJanuary 28th, 2019 by Holly Godbey | Comments Off on The Best Business Credit Cards For the Traveling Entrepreneur
As a business owner, you probably have quite a few credit cards you’re considering. It’s a good idea to keep in mind that some are better than others, particularly if you’re a frequent traveler. Here are a few of the best cards to have in your wallet, to ensure the most rewarding traveling experiences both at home and abroad.
Chase Ink Business Preferred
The Chase Ink Business Preferred card comes with a $95 annual fee, which is more reasonable some other premium credit cards out there for both travel and business.
Since the Chase Ink Business Preferred card is more geared toward business, its travel perks are slim, but still helpful. This is just one reason the card is best suited for entrepreneurs who travel less than those with, say, the American Express Platinum Business in their wallet, but who still want solid plastic that benefits them on the road. The Chase Ink Business Preferred travel perks include trip cancellation and interruption insurance, trip delay reimbursement and lost baggage coverage. Slim, but helpful.
But what can you earn with this card? Obviously you want to get points and miles out of your everyday business spending, so you can redeem those points and miles for business travel down the road.
The Chase Ink Business Preferred card gives out 3 points per dollar spent on your first $150,000 of business costs that include telecommunications, shipping and advertising. You receive 1 point per dollar spent on all other purchases.
That means this card is perfectly suitable if you spend less than $150,000 per year on business costs like those listed above. If your spending is primarily in other categories, you’d do best to look elsewhere.
American Express Platinum Business
The American Express Platinum Business comes with a hefty annual fee, $450, and this fee is expected to rise even higher in the near future, as Amex adds new benefits to it, including access to worldwide co-working spaces.
It’s a premium card with a fee to match, but keep in mind that the American Express Platinum Business comes with some waivers and fee credits that can help offset the $450 annual tribute it exacts. For example, there’s a $200 annual airline fee and a $100 Global Entry application fee waiver. If your business uses Dell purchases, you can also get a credit for those, starting this year.
One of the big draws to this card, of course, is its wealth of travel perks. You’ll get access to the swanky Centurion Lounges, as well as Delta Sky Club, and a Priority Pass membership. That means that nearly every time you fly, you’ll have access to a lounge where you can retreat from the normal airport hubbub and get some work done, enjoy some nice food and relax in a quiet and upscale atmosphere.
Since the American Express Platinum Business would rather reward you for travel, that’s where its earning potential kicks in. You get 5 Membership Rewards points per dollar you spend on flights and prepaid hotels you book through the Amex travel portal and then 1 point per dollar on everything else. That means this card is great if you’re spending a lot on travel (and don’t mind booking through Amex), but not so practical if your major spending is business-focused rather than travel-focused.
Capital One Spark Miles for Business
Capital One Spark Miles for Business is getting some new attention thanks to a host of new airline partners that Capital One recently announced. The new partnerships allow you to transfer Capital One miles and add them to miles with your favorite airline, making this card more attractive to business owners looking for a little plastic travel buddy.
The Capital One card comes with a nice sign-up bonus too, with an opportunity to earn 200,000 Capital One miles after you spend $55,000 in six months, which converts to about $3,000 in free travel.
This card’s annual fee is $95, which you’ll find is pretty standard among most mid-tier business credit cards.
As for earning potential, you’ll get 2 points for every dollar spent on every purchase. Since there are no earning categories that differ, you’ll enjoy the peace of mind that comes with knowing you can earn more miles with all your everyday spending, no matter what you buy.
The Capital One card, remember, comes with some new airline partners. When you transfer your miles to these partners, it’s likely you’ll get better value for your spending. The partners include airlines all around the globe, from Air Canada to Air France, from Qantas to Qatar.
Have We Made Your Choice Any Easier?
Picking a new business credit card can be a challenge, but you can’t go wrong with one of the three above, whether you want the peace of mind that comes with easy earning, as offered by the Capital One Spark Miles for Business card, the luxurious perks of the American Express Platinum Business, or the attractive combination of business and travel advantages you’ll find with the Chase Ink Business Preferred.
“Every business traveler needs a credit card in their wallet that they can use to get more value from their business trips and everyday spending alike,” says Jason Hartman, a frequent business traveler and founder of the Hartman Media Company. “Whether you’re an entrepreneur, just a frequent business traveler or both, like myself, making points and miles from credit cards work in your favor can be highly rewarding.”