Building business credit is essential for any LLC owner looking to secure financing, access better terms and build credibility with suppliers and customers. One of the most effective ways to build business credit is by using a business credit card. In this blog post, we will highlight some of the best business credit cards for LLCs to build credit in 2023.
1. Chase Ink Business Preferred℠ Credit Card
The Chase Ink Business Preferred℠ Credit Card is a popular choice for LLC owners looking to build credit. The card offers a sign-up bonus of 100,000 points after spending $15,000 in the first three months of account opening. The card also offers three points per dollar spent on travel, shipping, advertising purchases made with social media sites, search engines, and cable and phone services. The card has an annual fee of $95, and there are no foreign transaction fees.
2. American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card is another great option for LLCs looking to build credit. The card offers a $250 statement credit after spending $3,000 in the first three months of account opening. The card also offers 2% cashback on all eligible purchases up to $50,000 per calendar year, and then 1% thereafter. There is no annual fee, and there are no foreign transaction fees.
3. Capital One® Spark® Cash for Business
The Capital One® Spark® Cash for Business is a straightforward business credit card that offers unlimited 2% cashback on all purchases. The card has a $0 introductory annual fee for the first year, and then $95 per year thereafter. There are no foreign transaction fees, and the card offers free employee cards.
4. The Business Platinum Card® from American Express
The Business Platinum Card® from American Express is a premium business credit card that is ideal for LLC owners who travel frequently. The card offers a sign-up bonus of 100,000 Membership Rewards® points after spending $15,000 on eligible purchases within the first three months of account opening. The card also offers 5x points on flights and prepaid hotels on AmexTravel.com, and 1.5x points on eligible purchases of $5,000 or more (up to 1 million additional points per year). The card has a $595 annual fee, but it offers a wide range of benefits, including airport lounge access, hotel benefits, and concierge services.
5. The Brex Corporate Card for Startups
The Brex Corporate Card for Startups is a unique business credit card that is designed specifically for startups and emerging businesses. The card offers 7x points on rideshares and taxis, 4x points on travel booked through Brex Travel, 3x points on restaurants and eligible Apple products, and 1x points on all other purchases. The card has no annual fee and offers up to $100,000 in credit limits based on funding and financials.
Conclusion
Choosing the right business credit card for your LLC is an important decision that can have a significant impact on your credit building efforts. The Chase Ink Business Preferred℠ Credit Card, American Express Blue Business Cash™ Card, Capital One® Spark® Cash for Business, The Business Platinum Card® from American Express, and The Brex Corporate Card for Startups are all excellent options for LLC owners looking to build credit in 2023. Be sure to review the terms and conditions carefully, and choose a card that best aligns with your business needs and goals. By using your business credit card responsibly and making timely payments, you can establish a positive credit history for your LLC and unlock new opportunities for growth and success.
