The best sole proprietorship business credit cards charge no annual fees, offer introductory rewards up to $500, and pay up to 5% cash back. Some of these credit cards for sole proprietorship businesses even offer introductory no-interest financing on purchases and balance transfers for up to 15 billing cycles.
Top 10 Best Sole Proprietorship Business Credit Cards August 2019
Credit Cards | Best For |
|---|---|
(Best Overall) Top cash-back rewards | |
Introductory rewards and 1.5% cash back | |
Fixed-rate 2% cash-back rewards | |
Fixed-rate 2x points rewards | |
0% APR on purchases and balance transfers | |
Earning gas rewards | |
Low introductory and ongoing APR | |
Maximizing first-year rewards | |
Annual credit card expenses less than $19,000 | |
Fair credit (580 to 669) |
What’s Changed With the Best Credit Cards for Sole Proprietorship Owners
The updates to our list of the best business credit cards for sole proprietorships reflect the Federal Reserve’s short-term interest rate cut on July 31, 2019. Plus, we added two small business credit cards to our list in August 2019. This article was originally published in June 2019.
SEE LATEST CHANGES IN DETAIL
Federal Reserve Cut Short-term Interest Rates
On July 31, the Federal Reserve cut its benchmark interest rate by 0.25 percentage points. We monitor Fed rate changes because they impact the APRs banks charge on small business credit cards. Credit card APRs are based on a set percentage rate over the prime rate. When the prime rate changes, so do APRs. Following the Fed rate cut, American Express reduced its card interest rates, but other issuers have not yet followed suit.
American Express Blue Business CashTM Card Joins Our List of the Best Sole Proprietorship Business Credit Cards
In this update, we include the new American Express Blue Business CashTM Card, which was introduced by American Express in late July. This American Express card pays fixed-rate rewards of 2% cash back on purchases up to $50,000 per year, then 1% thereafter. Additionally, it offers interest-free financing for 12 months on purchases and balance transfers. This card offers no sign-up bonus, which may be a turnoff for some business owners.
We Added a U.S. Bank Credit Card to Our List
In this update, we include the U.S. Bank Business Cash Rewards World EliteTM MasterCard®, which offers no-interest financing for 15 billing cycles on purchases and balance transfers. This card is best for business owners looking for the cheapest introductory financing. Plus, you can earn a $500 sign-up bonus when you spend $4,500 within 150 days and earn up to 3% cash back in three categories.
The U.S. Bank Business Platinum Card Is Now the Lowest APR Card on Our List
The U.S. Bank Business Platinum Card is best for sole proprietors who want low introductory and ongoing APRs. It charges no interest for 12 billing cycles on purchases and balance transfers, and its ongoing APR starts at 12.24%. This card does not have a rewards program, so it’s primarily meant for business owners who want to limit the cost of carrying a balance.
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Applying for a Sole Proprietorship Business Credit Card
With sole proprietorships, there’s no legal distinction between you—the owner—and your business. This means that you’re entitled to all the profits and all the potential losses or debts. As a sole proprietorship, you can apply for a business credit card with an Employer Identification Number (EIN) or your Social Security number (SSN). You’ll still need to provide a personal guarantee. However, there are some business credit cards without personal guarantees.
How We Evaluated the Best Sole Proprietorship Business Credit Cards
Small business credit cards for sole proprietorship businesses offer a variety of sign-up bonuses, ongoing rewards, a range of APRs, and low annual fees. The best sole proprietorship business credit card for you is one that offers you the best mix of rewards and benefits that can help your business.
In our evaluation of the best sole proprietorship business credit cards, we considered:
- Introductory rewards: The introductory offer you can earn by meeting a minimum spending requirement. Credit cards on our list have sign-up bonuses worth up to $500.
- Ongoing rewards: The ongoing rewards you’ll earn for your everyday purchases. Cards on this list offer rewards worth up to 5% of the purchase price.
- Introductory APR: Whether a card offers an introductory 0% APR period on purchases or balance transfers. The best cards on our list offer introductory no-interest financing on purchases and balance transfers for up to 15 billing cycles.
- Ongoing APR: How much it costs to finance purchases or balance transfers on the card. Cards on our list have ongoing APRs starting at 12.24%.
- Additional features: Any free additional perks that increase the card’s value. Most cards on our list offer perks, including purchase protection and extended warranty protection.
- Annual fee: How much it costs to own the card annually. We only considered cards with no annual fees because we know many sole proprietors are looking to save as many business fees as possible.
Most small business credit cards evaluate both your business credit and personal credit. What’s more, small business credit cards typically require a personal credit score of at least 670. In our list, we also include one business credit card for fair credit for business owners with personal credit scores between 580 and 669. You can compare the best sole proprietorship business credit cards in our credit card marketplace.
We recommend Chase Ink Business CashSM as the best sole proprietorship business credit card. It charges no annual fee and pays up to 5% cash back on purchases. You’ll receive no-interest financing for the first 12 months on purchases. Plus, you can earn $500 when you spend $3,000 within the first three months.
Chase Ink Business CashSM: Overall Best Sole Proprietorship Business Credit Card
Ink Business Cash℠ Credit Card
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% Intro APR on Purchases | 15.24% - 21.24% Variable | $0 | Good - Excellent |
On Chase's Secure Website
Chase Ink Business CashSM is the overall best sole proprietorship business credit card because it charges no annual fee and offers ongoing rewards worth up to 5% cash back. It also offers a $500 bonus after spending $3,000 within the first three months. Additionally, you’ll receive interest-free financing on purchases for 12 months. Ongoing APR starts at 15.24%.
Chase Ink Business CashSM Costs
Chase Ink Business CashSM charges no annual fee and no interest for 12 months on purchases. Once the introductory period ends, its ongoing variable APR starts at 15.24%.
Financing costs and fees on the Chase Ink Business CashSM credit card include:
- Introductory APR: 0% APR for 12 months on purchases
- Ongoing APR: 15.24% to 21.24% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 5% of the transferred amount, whichever is greater
Chase Ink Business CashSM is one of the best business credit cards with no annual fee. However, there are other cards on our list that offer a better introductory APR. For example, the U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers an introductory 0% APR period for 15 billing cycles on both purchases and balance transfers.
Chase Ink Business CashSM Rewards
Chase Ink Business CashSM offers a $500 bonus after you spend $3,000 within the first three months after account opening. Plus, you’ll earn up to 5% cash back on your everyday purchases.
Introductory Rewards
You’ll earn $500 cash back after spending $3,000 within the first three months after account opening. This introductory reward is one of the best on our list, and it’s identical to Chase Ink Business UnlimitedSM.
Ongoing Rewards
You will earn the following ongoing rewards when using your card:
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, cellular phone, and landline services each account anniversary year, then 1% afterward.
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, then 1% afterward.
- 1% cash back on all other purchases.
Chase Ink Business CashSM offers cash-back rewards of up to 5%, which makes it one of the strongest cash-back business credit cards. Only two other cards on our list offers better gas rewards. The Bank of America® Business Advantage Cash Rewards Mastercard® and U.S. Bank Business Cash Rewards World EliteTM MasterCard® both pay 3% cash back on gas purchases.
How to Redeem Rewards
You can redeem your rewards for cash back, gift cards, and travel through Chase’s online travel rewards portal. Redemption value for each option is 1 cent per point, which is common among cash-back business credit cards. If you choose cash back, you can receive a statement credit or deposit the rewards into an eligible bank account from a U.S.-based bank or credit union.
Chase Ink Business CashSM Additional Features
This limited liability company (LLC) credit card offers additional features similar to most business credit cards, which include car rental insurance, purchase protection, and extended warranty protection.
Chase Ink Business CashSM comes with the following additional features:
- Auto rental collision damage waiver: Chase provides primary coverage when you rent a car for business purposes, which replaces your personal insurance and the rental company’s insurance. Chase will reimburse you up to the actual cash value of the vehicle for theft and collision damage.
- Purchase protection: Provides coverage against damage or theft for the first 120 days after purchase. This coverage is limited to $10,000 per claim and $50,000 per year.
- Extended warranty protection: Provides an additional year of warranty on U.S. manufacturers’ warranties of three years or less.
These additional card perks are similar to what other cards on our list offer. Business credit cards that don’t charge an annual fee rarely offer luxury travel perks, such as airport lounge access. If you want a benefit like that, you’ll need to pay an annual fee for a business credit card with lounge access.
What Chase Ink Business CashSM Is Missing
Chase Ink Business CashSM caps both of its 5% and 2% reward spending categories at $25,000 per year. This limit may be too low for some sole proprietors. If your business spends more than $25,000 annually in these categories, it’s best to look for an alternative. For example, the American Express Blue Business CashTM Card pays 2% cash back on all spending up to $50,000 annually.
Chase Ink Business CashSM Reviews
We considered both user reviews and our own editorial review when rating this card. Chase Ink Business CashSM reviews are very positive. Cardholders love the strong cash-back rewards and the lack of an annual fee.
User Reviews
Online user reviews are mostly positive. Cardholders especially enjoy the card’s no annual fee and strong cash-back rewards. However, some cardholders think the ongoing APR is too high. However, the low end of the APR range is better than the average on small business credit cards, which is about 17%.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. We rank this Chase Ink business credit card as one of the best business credit cards. Its business-oriented cash-back rewards, sign-up bonus, and 0% APR make it stand out over other cards we’ve reviewed. However, this could be a stronger card if it offered travel rewards.
How to Apply for Chase Ink Business CashSM
You can apply for the Chase Ink Business CashSM online by filling out a basic application with your business and personal information, and you could be approved instantly. Once you’re approved, you’ll receive your card in the mail within seven to 10 days
Chase Ink Business UnlimitedSM: Best for Introductory Rewards & 1.5% Cash Back
Ink Business Unlimited℠ Credit Card
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% Intro APR on Purchases | 15.24% - 21.24% Variable | $0 | Good - Excellent |
On Chase's Secure Website
Chase Ink Business UnlimitedSM is best for sole proprietors who want to earn a sign-up bonus and don’t want to take the time to track category rewards. This card offers fixed-rate 1.5% cash back on all spending. Additionally, it offers an introductory reward of $500 after spending $3,000 within three months. Similar to Chase Ink Business CashSM, you’ll receive an introductory 0% APR period for 12 months on purchases. Ongoing variable APR starts at 15.24%.
Chase Ink Business UnlimitedSM Costs
Chase Ink Business UnlimitedSM has identical costs and fees compared to Chase Ink Business CashSM. It charges no annual fee and no interest for 12 months on purchases.
Financing costs and fees on the Chase Ink Business UnlimitedSM credit card include:
- Introductory APR: 0% APR for 12 months on purchases
- Ongoing APR: 15.24% to 21.24% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 5% of the transferred amount, whichever is greater
If you’re looking to transfer a balance, this card is not right for you. It doesn’t offer an introductory APR on balance transfers and has a high balance transfer fee. Instead, consider a balance transfer business credit card like the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. That card offers no-interest financing for 15 billing cycles on both purchases and balance transfers. Plus, it only charges a balance transfer fee of 3%.
Chase Ink Business UnlimitedSM Rewards
Chase Ink Business UnlimitedSM pays a fixed rate of 1.5% cash back on all spending. Additionally, you can earn a $500 cash bonus after spending $3,000 within the first three months. This is one of the best introductory rewards on our list, alongside Chase Ink Business CashSM.
Introductory Rewards
You will earn $500 cash back after you spend $3,000 in the first three months. This is the same sign-up bonus that’s offered on Chase Ink Business CashSM. If you want to earn a larger introductory offer, you would need to consider a small business credit card with an annual fee. You can shop and compare the best credit cards in our credit card marketplace.
Ongoing Rewards
You will earn unlimited 1.5% cash back on all purchases, which makes it a great credit card for startup businesses that don’t want to track category rewards. If you want to earn better fixed-rate rewards, consider the Discover it® Business Card. That card pays the same 1.5% cash back, but Discover will match—or double—your rewards over the first year. That means you can earn 3% cash back over the first 12 months.
How to Redeem Rewards
Chase rewards are redeemable as cash back, gift cards, or travel through Chase’s online travel portal. Each point is worth 1 cent, which is similar to the redemption value most cash-back credit cards offer. If you redeem your rewards as cash back, you have the option to receive a statement credit or deposit the rewards into an eligible bank account from a U.S.-based bank or credit union.
Chase Ink Business UnlimitedSM Additional Features
Chase Ink Business UnlimitedSM offers the same additional features as Chase Ink Business CashSM, such as car rental insurance, purchase protection, and extended warranty protection.
Chase Ink Business UnlimitedSM comes with the following additional features:
- Auto rental collision damage waiver: Primary coverage when using a rental vehicle for business purposes, which means it replaces any coverage the rental company or your personal insurance offers. Chase may reimburse up to the actual cash value of the vehicle for theft and collision damage.
- Purchase protection: Covers purchased items within 120 days of purchase against damage or theft. Coverage is limited to $10,000 per claim and $50,000 per year.
- Extended warranty protection: Offers an additional year of warranty on U.S. manufacturers’ warranties of three years or less.
Much like other cards on our list, these additional card features are common. However, some cards provide better coverage. For example, American Express Blue Business® Plus has an extended warranty protection plan that covers warranties of five years or less.
What Chase Ink Business UnlimitedSM Is Missing
Chase Ink Business UnlimitedSM offers a lower return rate compared to other fixed-rate small business credit cards. For example, the American Express Blue Business CashTM Card pays 2% cash back on all purchases up to $50,000, then 1% thereafter. If you spend less than $50,000 annually, choose the American Express business card.
Chase Ink Business UnlimitedSM Reviews
We considered both user reviews and our own editorial review when rating this card. Chase Ink Business UnlimitedSM card reviews are positive. However, Chase Ink Business CashSM outranks this card because of its stronger rewards.
User Reviews
Online user reviews suggest that Chase Ink Business UnlimitedSM cardholders love the introductory rewards and interest-free financing. However, some cardholders complain about the low rewards return rate. There are cash-back business credit cards that offer unlimited fixed-rate rewards up to 2%, but those cards charge annual fees.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Chase Ink Business UnlimitedSM is a solid card option for sole proprietors who don’t want to deal with category rewards. Additionally, this card has no annual fee. Reviewers agree there are business credit cards that offer stronger ongoing rewards.
How to Apply for Chase Ink Business UnlimitedSM
You can apply for the Chase Ink Business UnlimitedSM online by providing your basic business and personal information, and you could be approved instantly. Once you’re approved, you’ll receive your card in the mail within seven to 10 days.
American Express Blue Business CashTM Card: Best for Fixed-rate 2% Cash-back Rewards
American Express® Blue Business Cash Card
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power§.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 14.99%, 17.99%, or 20.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% on purchases | 14.99% - 20.99% Variable | No annual fee | Good, Excellent |
on American Express® Blue Business Cash Card's secure website.
The American Express Blue Business CashTM Card is best for sole proprietors who want to earn 2% cash back on every purchase and pay no annual fee. Other business credit cards that offer an identical return rate typically charge annual fees close to $100. Additionally, you’ll have access to no-interest financing for 12 months on purchases and balance transfers. Ongoing variable APR starts at 14.99%.
American Express Blue Business CashTM Card Costs
The American Express Blue Business CashTM Card offers no-interest financing for 12 months on purchases and balance transfers. Plus, you’ll pay no annual fee. Remember to pay off your balance before the introductory APR period ends.
Financing costs and fees on the American Express Blue Business CashTM Card include:
- Introductory APR: 0% for 12 months on purchases and balance transfers
- Ongoing APR: 14.99% to 20.99% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 3% of the transferred amount, whichever is greater.
This American Express business credit card offers a good introductory 0% APR period. However, there are other cards that offer better introductory financing. The U.S. Bank Business Cash Rewards World EliteTM MasterCard®, for example, charges no interest for 15 billing cycles on purchases and balance transfers.
American Express Blue Business CashTM Card Rewards
The American Express Blue Business CashTM Card does not offer any introductory rewards. However, you’ll earn 2% cash back on purchases up to $50,000 annually, then 1% thereafter.
Introductory Rewards
The American Express Blue Business CashTM Card is one of four cards on our list that doesn’t offer a sign-up bonus. Most cards on our list of the best credit cards for sole proprietorship businesses offer introductory rewards after you meet a spending requirement. For example, Chase Ink Business UnlimitedSM and Chase Ink Business CashSM both offer $500 after you spend $3,000 within three months after account opening.
Ongoing Rewards
The American Express Blue Business CashTM Card offers the following ongoing rewards:
- 2% cash back on all purchases up to $50,000 each year.
- 1% cash back on all additional purchases.
You would need to spend $25,000 on your American Express Blue Business CashTM Card during the first year to overcome the introductory bonus the Chase Ink Business UnlimitedSM offers.
How to Redeem Rewards
Cardholders will receive a rebate as a statement credit for any eligible purchases on their American Express card, which is not how most cards work. The rebate they receive is based on the percentage of eligible purchases made during a billing period and will appear on the second billing statement after the billing statement on which those purchases appear. For example, if you earn rewards in September, you will see a statement credit on your November bill.
American Express Blue Business CashTM Card Additional Features
The American Express Blue Business CashTM Card comes with some fairly robust protections against loss and damage, including extended warranty protection and purchase protection.
The American Express Blue Business CashTM Card offers the following additional features:
- Extended warranty protection: The issuer will provide up to one additional year of coverage on eligible warranties of five years or less. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: American Express will repair, replace, or reimburse you for new purchases that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per claim and $50,000 per account each year.
The extended warranty protection falls short compared to American Express Blue Business® Plus. That card provides up to an additional two years of warranty coverage. Plus, the American Express Blue Business® Plus offers a purchase protection window of 120 days.
What American Express Blue Business CashTM Card Is Missing
This card does not offer a sign-up bonus. This can be a turnoff to some sole proprietors, especially when other cards on our list offer introductory rewards worth up to $500 cash back. For example, Chase Ink Business CashSM offers $500 after you spend $3,000 within three months from account opening.
American Express Blue Business CashTM Card Reviews
We considered both user reviews and our own editorial review when rating this card. American Express introduced this card in late July, and we found no user reviews online. However, editorial American Express Blue Business CashTM Card reviews agree this card offers excellent fixed-rate rewards compared with other cards that charge no annual fee.
User Reviews
This card was released near the end of July, and we found no online user reviews.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviewers say this card is a solid pick if you don’t have the patience to track category rewards. Other business credit cards that offer fixed-rate rewards of up to 2% also charge nearly $100 annually. Reviewers suggest this card would be stronger if it had introductory rewards.
How to Apply for American Express Blue Business CashTM Card
You can apply for the American Express Blue Business CashTM Card online, and you could receive a decision in as quickly as 30 seconds. Once approved, your card will arrive in the mail within seven to 10 days.
American Express Blue Business® Plus: Best for Fixed-rate 2x Points Rewards
The Blue Business® Plus Credit Card from American Express
- Get rewarded for business as usual. Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners.
- 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- More buying power for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
- 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 14.99%, 17.99% or 20.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- Terms Apply
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% on purchases | 14.99% - 20.99% Variable | No annual fee | Good, Excellent |
on The Blue Business® Plus Credit Card from American Express's secure website.
American Express Blue Business® Plus is best for sole proprietors who want to earn fixed-rate rewards on all spending. This card charges no annual fee and pays up to 2x points on purchases up to $50,000 annually. Additionally, you’ll have no-interest financing for 12 months on purchases and balance transfers. However, this is one of the few cards on our list that has no sign-up bonus. Ongoing variable APR starts at 14.99%.
American Express Blue Business® Plus Costs
American Express Blue Business® Plus charges no annual fee and no interest for 12 months on purchases and balance transfers. Its ongoing variable APR starts at 14.99%, which is lower than average, but slightly higher than the best rate on our list, offered by the U.S. Bank Business Platinum Card.
Financing costs and fees on the American Express Blue Business® Plus card include:
- Introductory APR: 0% for 12 months on purchases and balance transfers
- Ongoing APR: 14.99% to 20.99% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 3% of the transferred amount, whichever is greater
This 0% APR business credit card isn’t quite as good as the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. That card offers interest-free financing for 15 billing cycles on purchases and balance transfers.
American Express Blue Business® Plus Rewards
The American Express Blue Business® Plus credit card does not offer an introductory reward. However, you’ll earn 2x points on all spending up to $50,000 per year.
Introductory Rewards
American Express Blue Business® Plus does not offer any introductory rewards. Introductory rewards can be an excellent way to earn bonus cash for your sole proprietorship. If you want to earn introductory rewards, consider Chase Ink Business CashSM or Chase Ink Business UnlimitedSM. Both of those Chase Ink business credit cards offer $500 after spending $3,000 within the first three months.
Ongoing Rewards
With the American Express Blue Business® Plus card, you can earn:
- 2x points on all purchases up to $50,000 each year.
- 1x points on all additional purchases.
If you spend more than $50,000 annually, it may be best to consider a fixed-rate card that offers unlimited rewards. For example, Chase Ink Business UnlimitedSM offers unlimited 1.5% cash-back rewards.
How to Redeem Rewards
There are seven ways to redeem your rewards:
- For your charges: Use your points for your eligible charges on your current statement. You must have at least 1,000 available points in your account.
- Travel: Use points to book travel on American Express Travel. The minimum redemption is 5,000 points.
- Gift cards: Purchase American Express gift cards.
- Amazon.com: To use points at Amazon, you must first load your card into your Amazon account and use your card at least once.
- Ticketmaster: You can redeem your points on Ticketmaster to purchase event tickets. Minimum redemption is 2,000 points.
- AXS: You can redeem your points on AXS to purchase event tickets. Minimum redemption is 2,000 points.
- Taxi fares: Redeem your points for fares (including tips) in some taxis in New York City.
American Express Blue Business® Plus offers the most rewards redemption options on our list. For example, Chase Ink Business CashSM does not give you the option to redeem your rewards for Amazon.com purchases or event tickets.
American Express Blue Business® Plus Additional Features
American Express Blue Business® Plus provides robust additional card features, such as purchase protection and extended warranty protection, which extends warranties of five years or less.
American Express Blue Business® Plus comes with the following additional features:
- Extended warranty protection: Provides up to an additional two years of coverage on original manufacturers’ warranties of five years or less. Coverage is limited to $10,000 per claim and $50,000 per year.
- Purchase protection: The issuer will repair, replace, or reimburse you for a purchased item that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per claim and $50,000 per year.
The American Express Blue Business® Plus credit card offers some of the best additional card features on our list. American Express business credit cards are known for their unbeatable card perks.
What American Express Blue Business® Plus Is Missing
American Express Blue Business® Plus is missing an introductory reward offer, which may be a turnoff for sole proprietors looking to maximize credit card rewards. If you want to earn an introductory reward, we recommend the Chase Ink Business CashSM credit card. That card has no annual fee and offers $500 after spending $3,000 within the first three months.
American Express Blue Business® Plus Reviews
We considered both user reviews and our own editorial review when rating this card. American Express Blue Business® Plus reviews are mixed. Sole proprietors suggest that its long interest-free financing period benefits the growth of their companies. However, the lack of a sign-up bonus is a drawback.
User Reviews
Online user reviews are mostly mixed. Most users say they enjoy the introductory 0% APR period and the card’s ongoing rewards. However, most users wish this card had an introductory reward offer they could capitalize on.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. American Express Blue Business® Plus is a solid pick for sole proprietors looking to save on interest. However, some business owners may not apply because there is no sign-up bonus.
How to Apply for American Express Blue Business® Plus
You can apply for the American Express Blue Business® Plus online in a matter of minutes. You’ll be required to fill out a basic application containing your business and personal information. Once approved, you’ll receive your card within seven to 10 days.
U.S. Bank Business Cash Rewards World EliteTM MasterCard®: Best for 0% APR on Purchases & Balance Transfers
U.S. Bank Business Cash Rewards World Elite™ MasterCard®
- Earn a new cardmember bonus of $500 after you spend $4,500 in eligible net purchases on your card within the first 150 days of account opening
- 3% cash back on cellular, gas stations, and office supply store net purchases
- 1% cash back on other eligible net purchases
- No limit on total rewards and they never expire!
- Plus, a 25% Annual Cash Rewards bonus, up to $250
- No annual fee*
- Net purchases are purchases minus credits and returns
- 0% Intro APR* on purchases and balance transfers for the first 15 billing cycles. After that variable APR currently 14.24% - 25.24%*
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% | 14.24% - 25.24% Variable | $0 | Excellent |
On US Bank's Secure Website
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® is best for sole proprietors who want the best introductory financing offer. It charges no interest for 15 billing cycles on purchases and balance transfers. You can earn a $500 sign-up bonus after spending $4,500 within 150 days and 3% cash back. Ongoing variable APR starts at 14.24%.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Costs
This U.S. Bank business credit card offers the best introductory 0% APR period on our list. You’ll pay no interest on purchases and balance transfers for 15 billing cycles and no annual fee.
Financing costs and fees on the U.S. Bank Business Cash Rewards World EliteTM MasterCard® include:
- Introductory APR: 0% on balance transfers and purchases for the first 15 billing cycles
- Ongoing APR: 14.24% to 25.24% variable, which adjusts with the prime rate
- Balance transfer fee: $5 or 3% of the transferred amount, whichever is greater
- Annual fee: None
The next best interest-free financing offers on our list are American Express Blue Business® Plus and the American Express Blue Business CashTM Card. Those cards charge no interest for 12 months on purchases and balance transfers. Consider one of those cards if you don’t want to track category bonus rewards.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Rewards
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® pays up to 3% cash back and offers an introductory reward of $500 when you spend $4,500 within the first 150 days. Plus, you can earn a unique 25% annual bonus worth up to $250.
Introductory Rewards
You’ll earn $500 cash back when you spend $4,500 during the first 150 days after account opening. Compared to other cards that charge no interest, both the American Express Blue Business® Plus and the American Express Blue Business CashTM Card don’t offer any sign-up bonuses.
Ongoing Rewards
You’ll earn the following ongoing rewards when using your card:
- 3% cash back on cellphone purchases and service.
- 3% cash back on gas purchases up to $200 per single purchase.
- 3% cash back at office supply stores.
- 1% cash back on all other eligible purchases.
If you’d rather earn fixed-rate rewards, consider American Express Blue Business® Plus and the American Express Blue Business CashTM Card. However, you won’t be able to earn an introductory reward with either of those cards. You’ll need to choose what’s more beneficial—fixed-rate rewards or a sign-up bonus worth several hundred dollars.
With the American Express credit cards, you would need to spend $25,000 annually to earn rewards equivalent to the $500 sign-up bonus the U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers.
How to Redeem Rewards
You can redeem your rewards for cash back, as a statement credit, or in the form of a debit card. If you redeem as a debit card, you’ll receive a U.S. Bank Rewards Mastercard. If you redeem as cash back, your rewards will be deposited into your U.S. Bank business checking, savings, or money market account.
Redemption rates are 3 cents per dollar spent on cellphone purchases and service, gas purchases, and office supply store purchases. All other redemptions are worth 1 cent per dollar spent.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Additional Features
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers features similar to most other sole proprietorship business credit cards on our list, which include car rental insurance, purchase security, and extended warranty protection.
The following benefits are included on your card:
- MasterRental car rental collision damage waiver: The issuer covers you in case of accident or theft on all rentals made worldwide. This coverage is primary, which means you won’t need to use your own personal car insurance or accept what the rental company offers. Coverage is limited up to $50,000.
- Purchase assurance: The issuer may repair or reimburse for purchases that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per item and up to $25,000 per year.
- Extended warranty protection: The issuer will double the manufacturer’s warranty up to an additional one year on eligible warranties of five years or less. U.S. Bank will replace the item or reimburse you up to the amount charged on your card up to $10,000.
This sole proprietorship business credit card includes perks similar to the American Express Blue Business® Plus. However, that card offers purchase protection on items that are damaged or stolen within 120 days of purchase.
What U.S. Bank Business Cash Rewards World EliteTM MasterCard® Is Missing
This U.S. Bank business credit card doesn’t pay the best rewards return rate on office supply spending compared to some other credit cards for sole proprietors. Chase Ink Business CashSM, for example, pays 5% cash back on office supply expenses. However, that card’s introductory APR period only applies to purchases, and not balance transfers.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Reviews
We considered both user reviews and our own editorial review when rating this card. U.S. Bank Business Cash Rewards World EliteTM MasterCard® reviews are mostly positive. This card offers the best introductory interest-free financing period, but it could pay better ongoing rewards.
User Reviews
Online reviews are generally positive. Cardholders suggest the introductory interest-free financing period is beneficial when building their businesses. However, some users wish this credit card offered more robust ongoing rewards.
Editorial Reviews
We rate business credit cards based on their costs, rewards, and benefits. Editorial reviewers agree the U.S. Bank Business Cash Rewards World EliteTM MasterCard® is the best credit card for accessing the cheapest introductory financing. Most reviewers suggest this card would be stronger if it improved its ongoing rewards structure.
How to Apply for U.S. Bank Business Cash Rewards World EliteTM MasterCard®
You can apply online for the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. You’ll be required to fill out a basic application with your business and personal information. Once you’re approved, you’ll receive your card in the mail within seven to 10 days.
Bank of America® Business Advantage Cash Rewards Mastercard®: Best for Earning Gas Rewards
Apply Nowon Bank of America® Business Advantage Cash Rewards Mastercard® credit card's secure website.
Bank of America® Business Advantage Cash Rewards Mastercard® credit card
- Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
- You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first 9 billing cycles.
- Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
- Get 75% more cash back on every purchase when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% 9 billing cycles | 13.99% - 23.99% Variable APR on purchases | $0.00 | Excellent |
on Bank of America® Business Advantage Cash Rewards Mastercard® credit card's secure website.
The Bank of America® Business Advantage Cash Rewards Mastercard® is best for sole proprietors who want to receive rewards for their gas purchases and pay no annual fee. This card pays 3% cash back on gas station spending—or one of five other spending categories. Plus, you can earn more rewards if you enroll in the Preferred Rewards for Business program. Ongoing variable APR is between 13.99% to 23.99% variable.
Bank of America® Business Advantage Cash Rewards Mastercard® Costs
This Bank of America business credit card charges no annual fee and no interest for 9 billing cycles on purchases.
Financing costs and fees on Bank of America® Business Advantage Cash Rewards Mastercard® include:
- Introductory APR: 0% for 9 billing cycles on purchases
- Ongoing APR: 13.99% to 23.99% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $10 or 4% of the transferred amount, whichever is greater
If your main concern in a credit card for sole proprietorship businesses is a balance transfer offer, it’s best to consider a different card on our list. Instead, choose the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. That card offers an introductory 0% APR period for 15 billing cycles on both purchases and balance transfers.
Bank of America® Business Advantage Cash Rewards Mastercard® Rewards
The Bank of America® Business Advantage Cash Rewards Mastercard® pays 3% cash back on one of six reward categories, including gas station purchases. You can also earn a $300 statement credit after spending $3,000 within the first three months. If you’d rather earn travel rewards, consider Bank of America® Business Advantage Travel Rewards World Mastercard®. We rank that card as one of the best travel business credit cards.
Introductory Rewards
You will earn a $300 statement credit after you spend at least $3,000 within the first 90 days. When you compare this to Chase Ink Business CashSM or Chase Ink Business UnlimitedSM, this sign-up bonus falls short. Both of those cards have introductory rewards of $500 after spending $3,000 within three months.
Ongoing Rewards
You’ll earn the following rewards when using your card:
- 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV and telecommunications services, wireless, computer services or business consulting services (for the first $50,000 in combined choice category or dining purchases each calendar year, 1% thereafter).
- 2% cash back at restaurants.
- 1% cash back on all other purchases.
With this card, you can earn reward bonuses by enrolling in the Preferred Rewards for Business program. When you enroll, you can earn an additional 25% to 75% rewards bonus on every purchase. This means you could earn up to 5.25% on gas spending. To earn the highest bonus rate (75%), you must have at least $100,000 in deposits or investments with the bank.
How to Redeem Rewards
You can redeem your Bank of America rewards as a deposit into your Bank of America checking or savings account, a statement credit, or a check. There is no annual cap on rewards redemption, and you can redeem them at any time. Other cash-back credit cards on our list, such as Chase Ink Business CashSM, offer more redemption options, including gift cards and travel.
Bank of America® Business Advantage Cash Rewards Mastercard® Additional Features
Bank of America doesn’t disclose any details of the card’s additional features until you receive your guide to benefits that comes with your card. However, we do know you’ll receive up to $100,000 in travel accident insurance, which covers you in case of a loss of life or dismemberment. If you want to receive top-tier additional benefits, consider a card like the American Express Blue Business® Plus credit card.
What Bank of America® Business Advantage Cash Rewards Mastercard® Is Missing
There are other cards on our list that offer better introductory and ongoing rewards compared to this card. However, the main advantage of this card comes from having an existing Bank of America bank account and by enrolling in the Business Advantage Relationship Rewards program. If you don’t have an existing account and want a better rewards structure, consider Chase Ink Business CashSM.
Bank of America® Business Advantage Cash Rewards Mastercard® Reviews
We considered both user reviews and our own editorial review when rating this card. Bank of America® Business Advantage Cash Rewards Mastercard® reviews are mostly mixed. This card has no annual fee and is most beneficial for existing Bank of America customers. However, it only offers decent cash-back rewards.
User Reviews
Online user reviews are mostly mixed. Cardholders love that they don’t have to pay an annual fee and the flexibility to choose the 3% cash back spending category. However, some users complain about the low introductory reward compared to other business credit cards.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviewers agree that this credit card for sole proprietorship businesses is decent. Its introductory and ongoing rewards are only average at best compared to other cards on our list.
How to Apply for Bank of America® Business Advantage Cash Rewards Mastercard®
You can apply for the Bank of America® Business Advantage Cash Rewards Mastercard® online. Once you fill out the application with your basic business and personal information, you can be approved instantly. Once approved, you’ll receive a card in the mail within seven to 10 days.
U.S. Bank Business Platinum Card: Best for Low Introductory & Ongoing APR
U.S. Bank Business Platinum Card
- 0% Intro APR* on purchases and balance transfers for the first 12 billing cycles. After that variable APR currently 12.24% - 20.24%*
- No annual fee*
- Free employee cards
- Zero fraud liability* protects you against unauthorized transactions
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% | 12.24% - 20.24% Variable | $0 | Excellent |
On US Bank's Secure Website
Only available within these states: AZ,AR,CA,CO,ID,IL,IN,IA,KS,KY,MN,MO,MT,NE,NV,ND,OH, OR,SD,TN,UT,WA,WI,WY, NM
The U.S. Bank Business Platinum Card is best for business owners who want low introductory and ongoing financing. It charges no interest on both purchases and balance transfers for 12 billing cycles. After the introductory period ends, its ongoing variable APR is between 12.24% and 20.24%. This card offers no rewards program, but it’s mainly designed for business owners looking to save money on interest.
U.S. Bank Business Platinum Card Costs
The U.S. Bank Business Platinum Card charges no annual fee and offers the lowest ongoing APR on our list. It also charges no interest for the first 12 billing cycles on purchases and balance transfers.
Financing costs and fees on the U.S. Bank Business Platinum Card include:
- Introductory APR: 0% APR on purchases and balance transfers for the first 12 billing cycles
- Ongoing APR: 12.24% to 20.24% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 3% of the transferred amount, whichever is greater
The U.S. Bank Business Platinum Card’s introductory APR period is identical to American Express Blue Business® Plus. However, we rank it lower on our list because it doesn’t offer any rewards.
U.S. Bank Business Platinum Card Rewards
The U.S. Bank Business Platinum Card offers no introductory or ongoing rewards. This is the only card on our list that does not offer rewards. If you want cheap introductory financing and the opportunity to earn rewards, consider the U.S. Bank Business Cash Rewards World EliteTM MasterCard®.
U.S. Bank Business Platinum Card Additional Features
The U.S. Bank business credit card offers an auto rental collision damage waiver, purchase protection, and extended warranty protection, which are common business credit card features.
The U.S. Bank Business Platinum Card comes with the following additional features:
- Auto rental collision damage waiver: U.S. Bank will cover up to the cash value of the vehicle in case of accident or theft on car rentals made in the United States and most foreign countries.
- Purchase protection: Covers new purchases that are damaged or stolen within 90 days of purchase. Coverage is limited to $500 per claim and up to $50,000 per year.
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year on warranties of three years or less. Coverage is limited to $10,000 per item.
These additional card features are similar to what you would find on other business credit cards for sole proprietors. However, some issuers provide more robust features, such as American Express.
What U.S. Bank Business Platinum Card Is Missing
The U.S. Bank Business Platinum Card does not offer any introductory or ongoing rewards. Earning rewards can help you put money back into your business. If you want to earn rewards, consider another card on our list that has a rewards structure, such as Chase Ink Business CashSM.
Note: The card is only available in Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nevada, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming, and New Mexico.
U.S. Bank Business Platinum Card Reviews
We considered both user reviews and our own editorial review when rating this card. U.S. Bank Business Platinum reviews are mostly positive. This card is excellent if you’re seeking low introductory and ongoing financing, but it doesn’t offer a rewards program.
User Reviews
Online user reviews are generally positive. Cardholders say the no-interest financing period and low ongoing APR are helpful while building their sole proprietorships. Some users complain about the lack of introductory and ongoing rewards.
Editorial Reviews
We rate business credit cards based on their costs, rewards, and benefits. Reviewers agree this is a strong card for business owners who want to reduce the cost of interest. However, it’s one of the few small business credit cards that doesn’t offer any rewards.
How to Apply for U.S. Bank Business Platinum Card
You can apply online for the U.S. Bank Business Platinum Card. You will be required to fill out a basic application with your business and personal information, and you could be approved instantly. Once approved, you will receive your card within seven to 10 days.
Note: This card is only available within these states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nevada, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming, and New Mexico.
Discover it® Business Card: Best for Maximizing First-year Rewards
Discover it® Business Card
- Unlimited 1.5% Cash Back
- Cash back Match - We'll automatically match all the cash back you've earned at the end of your first year. There's no signing up. And no limit to how much we'll match.
- 100% U.S. Based Customer Service
- Free Employee Cards - Add employee cards with spending limits and earn rewards for all their purchases.
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% | 15.24% to 23.24% Variable | $0 | Good - Excellent |
On Discover's Secure Website
The Discover it® Business Card is best for sole proprietors who want to maximize their rewards during the first year. This card pays unlimited 1.5% cash back. Plus, Discover will match—or double—all rewards earned during your first year. This means for the first 12 months of card ownership, you will earn 3% cash back on all purchases. You’ll also receive no-interest financing for 12 months on purchases. Ongoing variable APR starts at 15.24%.
Discover it® Business Card Costs
The Discover it® Business Card charges no annual fee and no interest on purchases for 12 months. This introductory APR period is identical to both Chase Ink Business CashSM and Chase Ink Business UnlimitedSM.
Financing costs and fees on the Discover it® Business Card include:
- Introductory APR: 0% for 12 months on purchases
- Ongoing APR: 15.24% to 23.24% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: 5% of the transferred amount
If you’re looking to transfer a balance, this card is not right for you. Its introductory APR only applies to purchases made on the card, and it has a high balance transfer fee of 5%. Instead, consider the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. That card’s balance transfer fee is 3% and offers an introductory 0% APR period for 15 billing cycles on purchases and balance transfers.
Discover it® Business Card Rewards
The Discover it® Business Card has a unique introductory offer. Discover will match—or double—all rewards earned during your first 12 months of card ownership. This card also pays 1.5% cash back, which means you’ll earn 3% cash back over your first year.
Introductory Rewards
Instead of a traditional introductory offer, Discover matches all cash-back rewards you earn over your first 12 months. After your first year, you’ll receive these rewards in the following one or two billing cycles. We have not reviewed a card that has a similar offer.
If your business charges more than $33,000 in purchases to credit cards in a year, this first-year bonus may prove more valuable than what you could earn from Chase Ink Business UnlimitedSM ($33,400 x 1.5% = $501). The Chase Ink Business UnlimitedSM offers $500 when you spend $3,000 within the first three months.
Ongoing Rewards
You’ll earn 1.5% cash back on all purchases. With Discover’s cash-back match offer, you’ll be able to earn 3% cash back over your first year. However, this means this card is most valuable during those first 12 months. If you want a card with long-term value, we recommend Chase Ink Business UnlimitedSM. That card pays 1.5% cash back, has an introductory offer worth $500, and offers more additional card features, such as insurance.
How to Redeem Rewards
You can redeem your Discover cash-back rewards for charitable donations to select charities, as a credit to your account, as an electronic deposit into an account you designate, or for gift cards starting at $20. Discover cash-back rewards have no expiration date. It will credit your account with your cash-back reward balance if your account is closed or has not been used in 18 months.
Discover it® Business Card Additional Features
Unlike other cards on our list, Discover does not offer common insurances, such as purchase protection. Instead, it only offers an account lock feature and a late fee waiver.
The Discover it® Business Card includes the following additional features:
- Account lock: Allows you to freeze your account through the mobile app or website to prevent new purchases.
- Late fee waiver: You’ll be charged no fee for your first late payment, but $37 thereafter.
Discover offers the fewest additional card features of any card on our list. Most business credit cards provide more perks, such as extended warranty and purchase protection. If you want a fixed-rate, cash-back card with more features, consider Chase Ink Business CashSM. That card offers a variety of additional features, including extended warranty protection, purchase protection, and car rental insurance.
What Discover it® Business Card Is Missing
The Discover it® Business Card carries a high balance transfer fee of 5% and doesn’t offer interest-free financing on balance transfers. Instead, consider the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. With that card, you’ll receive an introductory 0% APR period on purchases and balance transfers for 15 billing cycles. Plus, it only charges a balance transfer fee of 3%.
Discover it® Business Card Reviews
We considered both user reviews and our own editorial review when rating this card. Discover it® Business Card reviews suggest this card holds most of its value during the first year. However, there are other options that have better long-term value.
User Reviews
Discover it® Business Card online reviews are mixed. Cardholders with a lot of first-year expenses enjoy the Discover cash-back match offer. However, some users complain the card loses a lot of its value after the first year.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviews agree that this card is a solid card option for sole proprietors who want to maximize their rewards during the first 12 months. Unlike most other cards we’ve reviewed, this card doesn’t offer any travel protections or insurances.
How to Apply for Discover it® Business Card
You can apply for Discover it® Business Card online. The application only takes a few minutes and you can get approved instantly. Once approved, the card typically takes seven to 10 business days to arrive.
Capital One® Spark® Cash Select for Business: Best for Annual Card Expenses Below $19,000
Capital One® Spark® Cash Select for Business
- Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
- Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
- Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
- No annual fee
- Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
- Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
- Get employee cards at no additional cost, and earn rewards from their business spend
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| 0% on purchases | 14.74% - 22.74% (Variable) | $0 | Excellent, Good |
on Capital One® Spark® Cash Select for Business's secure website.
Capital One® Spark® Cash Select for Business is best for sole proprietors who spend less than $19,000 annually on their credit cards. That’s the threshold at which you’d receive more benefit from the Capital One® Spark® Cash for Business, but that card charges a $95 annual fee. Capital One® Spark® Cash Select for Business pays unlimited 1.5% cash back, and its ongoing variable APR starts at 14.74%.
Capital One® Spark® Cash Select for Business Costs
Capital One® Spark® Cash Select for Business charges no annual fee and no interest on purchases for nine months. It’s the only card on our list that doesn’t charge a balance transfer fee.
Financing costs and fees on Capital One® Spark® Cash Select for Business include:
- Introductory APR: 0% for nine months on purchases
- Ongoing APR: 14.74% to 22.74% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: None
Capital One® Spark® Cash Select for Business offers an introductory 0% APR period that’s shorter than other cards on our list, such as Chase Ink Business UnlimitedSM. That card offers an introductory 0% APR period on purchases for 12 months. However, it does not allow for balance transfers.
Capital One® Spark® Cash Select for Business Rewards
This Capital One business credit card offers a one-time $200 cash bonus once you spend $3,000 on purchases within the first three months from account opening. It also pays unlimited 1.5% cash back on all spending.
Introductory Rewards
You’ll earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first three months from account opening. This falls short of other introductory rewards on our list. For example, Chase Ink Business CashSM and Chase Ink Business UnlimitedSM both offer $500 when you spend $3,000 within three months from account opening.
Ongoing Rewards
You’ll earn unlimited 1.5% cash back on all purchases. Chase Ink Business UnlimitedSM offers the same ongoing rewards. However, with that card, you can access a larger introductory reward and no-interest financing on purchases for 12 months. If you want to earn miles to redeem for travel instead of cash back, Capital One offers Capital One® Spark® Miles Select for Business. That card is nearly identical besides the fact that you will earn miles-based rewards compared to cash-based rewards.
How to Redeem Rewards
You can redeem your rewards as a statement credit or check, for a recent transaction, or for gift cards, or you can set up automatic redemption. If you choose to redeem automatically, you can set a time each calendar year to receive your rewards or when you reach a threshold ($25, $50, $100, $200, $500, or $1,500). These redemption options are similar to most cash-back credit cards.
Capital One® Spark® Cash Select for Business Additional Features
According to Capital One’s website, this card offers Visa® Business Benefits, which include extended warranty protection and purchase protection.
Capital One® Spark® Cash Select for Business comes with the following features:
- Extended warranty protection: Extends U.S. manufacturer’s warranty by up to one additional year on eligible warranties of three years or less.
- Purchase protection: Covers your new purchases for 90 days against damage or theft up to $10,000 per claim and $50,000 per account, per year.
These features are similar compared to other credit cards for sole proprietorship businesses on our list. However, most American Express business credit cards cover warranties of five years or less.
What Capital One® Spark® Cash Select for Business Is Missing
Capital One® Spark® Cash Select for Business is not designed for balance transfers, as its introductory 0% APR period applies to purchases only. If you need to transfer a balance, the U.S. Bank Business Cash Rewards World EliteTM MasterCard® is a good alternative. That card offers no-interest financing for 15 billing cycles on both purchases and balance transfers.
Capital One® Spark® Cash Select for Business Reviews
We considered both user reviews and our own editorial review when rating this card. Capital One® Spark® Cash Select for Business reviews agree this is a good card for sole proprietors with low annual spending needs. However, it has a small introductory reward.
User Reviews
Online user reviews of this Capital One business credit card are generally mixed. Cardholders enjoy the simple rewards structure and introductory 0% APR period for nine months on purchases. However, some users wish the introductory reward was comparable to other business credit cards.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviews suggest that this is a solid choice if you spend less than $19,000 on your credit card per year. If you spend more than $19,000 annually, reviewers recommend Capital One® Spark® Cash for Business. It has ongoing rewards of 2% cash back but charges an annual fee of $95, waived the first year.
How to Apply for Capital One® Spark® Cash Select for Business
You can apply for Capital One® Spark® Cash Select for Business card online. You’ll be required to provide your basic personal and business information. Once approved, you’ll receive your card within seven to 10 business days.
Capital One® Spark® Classic for Business: Best for Fair Credit
Capital One® Spark® Classic for Business
- Enjoy no annual fee
- Earn 1% cash back on every purchase
- Build business credit with responsible use
- Fraud coverage if your card is ever lost or stolen
- No foreign transaction fees
- Enjoy business benefits including Year-End Summaries, employee cards at no extra cost and experienced small business customer service
| INTRO APR | REGULAR APR | ANNUAL FEE | CREDIT NEEDED |
|---|---|---|---|
| N/A | 24.74% (Variable) | $0 | Average, Fair, Limited |
on Capital One® Spark® Classic for Business's secure website.
Capital One® Spark® Classic for Business is best for sole proprietors with fair credit (580 to 669). This card charges no annual fee and pays unlimited 1% cash back on all purchases. This is the best card on our list if you want to build both your business and personal credit scores. It has an ongoing variable APR of 24.74%.
Capital One® Spark® Classic for Business Costs
Capital One® Spark® Classic for Business charges no annual fee and an ongoing variable APR of 24.74%. This is one of the few cards on our list that does not offer an introductory APR period, which is common for business credit cards for fair credit.
Financing costs and fees on Capital One® Spark® Classic for Business include:
- Introductory APR: None
- Ongoing APR: 24.74% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: None
Capital One® Spark® Classic for Business has the highest ongoing APR among cards on our list. However, this APR is average for business credit cards for fair credit. This is the only sole proprietorship business credit card on our list that is for fair credit owners.
Capital One® Spark® Classic for Business Rewards
Capital One® Spark® Classic for Business doesn’t offer any sign-up bonuses. However, you’ll earn unlimited 1% cash back on all purchases. This rewards structure is typical for sole proprietors with personal credit scores between 580 and 669.
Introductory Rewards
Capital One® Spark® Classic for Business offers no introductory rewards. Typically, credit cards for fair credit don’t offer introductory rewards. This card is best used to build your business and personal credit. Once your personal credit score is at least 670, then you can apply for a business credit card that offers better rewards, such as Chase Ink Business CashSM.
Ongoing Rewards
You’ll earn unlimited 1% cash back on all spending. If you have fair credit, this is a solid option because of the added benefit its rewards provide. If your personal credit score is below 580, we recommend a secured business credit card. Those cards have credit limits that are equal to a cash deposit held in a collateral account.
Capital One® Spark® Classic for Business Additional Features
According to Capital One’s website, this card offers Visa® Business Benefits, which include extended warranty protection and purchase protection.
Capital One® Spark® Classic for Business comes with the following features:
- Extended warranty protection: Extends U.S. manufacturer’s warranties by up to one additional year on warranties of three years or less.
- Purchase protection: Covers new purchases for 90 days against damage or theft up to $10,000 per item and $50,000 per year.
These features are similar to Capital One® Spark® Cash for Business, which offers 2% cash back. However, it’s unlikely sole proprietors with fair credit can qualify for that card.
How to Redeem Rewards
You can redeem your rewards as a statement credit or check, for a recent transaction, or for gift cards, or you can set up automatic redemption. If you choose automatic redemption, you can set a time each calendar year to receive your rewards or when you meet a threshold ($25, $50, $100, $200, $500, or $1,500). Some cards on our list offer more redemption options. For example, Chase Ink Business CashSM allows you to redeem your points for travel.
What Capital One® Spark® Classic for Business Is Missing
Capital One® Spark® Classic for Business doesn’t offer any introductory rewards and only pays 1% cash back. However, sole proprietors who apply for this card should do so to build their credit and not to earn top rewards. These ongoing rewards are just an added benefit.
Capital One® Spark® Classic for Business Reviews
We considered both user reviews and our own editorial review when rating this card. Capital One® Spark® Classic for Business reviews agree that this card is best for those with personal credit scores between 580 and 669.
User Reviews
Online Capital One® Spark® Classic for Business user reviews are mostly positive. Cardholders say they like the opportunity to earn rewards while building their business and personal credit. However, this card’s drawbacks include potentially low credit limits. Capital One® Spark® Classic for Business has credit limits that start at $500.
Editorial Reviews
We rate small business credit cards based on their costs, rewards, and benefits. Most reviewers suggest this is one of the strongest sole proprietorship business credit cards for fair credit. It charges no annual fee and has fewer qualification requirements than other cards on our list.
How to Apply for Capital One® Spark® Classic for Business
You can apply for Capital One® Spark® Classic for Business online. The application takes minutes and you can get approved instantly. Once approved, the card typically takes seven to 10 business days to arrive.
Frequently Asked Questions (FAQs) About Credit Cards for Sole Proprietorship Businesses
We covered a lot of information on the best credit cards for sole proprietorship businesses. Some questions are asked more often than others, and we address those here. If you have any additional questions, please visit the Fit Small Business forum or leave a comment below, and we will provide an answer.
The most frequently asked questions about credit cards for sole proprietorship businesses are:
Can you get a business credit card as a sole proprietor?
You’re a sole proprietor if you own a small business and operate it on your own. You don’t need an Employer Identification Number (EIN) to get a small business credit card. Instead, you can get a business credit card as a sole proprietor with your Social Security number (SSN).
Can I get a business credit card with my EIN number?
Once you have an Employer Identification Number (EIN), you can use it to apply for a business credit card. If your business has employees, you must have an EIN. You can apply for an EIN online, receive it immediately, and use it right away for most business purposes.
How do you get approved for a business credit card?
To get a business credit card, we recommend having a personal credit score of at least 670. When you know your credit score, compare credit cards to find an option that fits your business. Once you’ve found the right card, apply online with your EIN or SSN, and you could receive an immediate decision.
Bottom Line
The best credit cards for sole proprietorship businesses typically charge no annual fees, have favorable rewards structures, and offer an introductory 0% APR period on purchases or balance transfers. Most of the cards on our list require a personal credit score of at least 670. However, we offer one option if your credit score is between 580 and 669.
For rates and fees on the American Express Blue Business CashTM Card, please click here.
For rates and fees on American Express Blue Business® Plus, please click here.
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