The 3 Best Business Charge Cards
When looking for the best business charge card, finding a card with numerous benefits and a low annual fee should be a high priority. Unlike credit cards, charge cards typically require the cardholder to pay the entire balance in full each month. In theory, business charge cards do not have credit limits, enabling the cardholder to charge all necessary expenses to the card. Because of the lack of interest income generated by the card issuer, business charge cards will typically require an annual membership fee. The best business charge cards will provide the cardholder with a variety of benefits, have a quality rewards program, and charge a relatively low annual fee.
The Enhanced Business Gold Rewards Card® from American Express OPEN earns a place at the top of the list by providing a solid rewards program and a comparatively low annual fee. With the Enhanced Business Gold Rewards Card®, cardholders can take advantage of a 30,000 Membership Rewards® bonus after spending $5,000 in purchases on the card in the first three months of card membership. Businesses with employees that travel often will appreciate 3x points on airfare purchased from airlines, and 2x points at U.S. gas stations. In addition, cardholders can earn 2x bonus points through marketing expenses in select media, and shipping. You can also earn two points on U.S. purchases made directly from select computer hardware and software providers. Although these bonus reward options are capped at $100,000 in each category per year, with so many options for bonus opportunities, rewards will begin accumulating quickly. The Enhanced Business Gold Rewards Card® also has a lower-than-average annual membership fee, with a $0 introductory annual fee for the first year, then $175 for each year after. With such a well-rounded offering, the Business Gold Rewards Card® will be a great fit for most businesses.
The Business Green Rewards Card from American Express OPEN is near the top of the best business charge cards primarily due to its affordability. With a $0 introductory first year, then $95 annual fee, the Business Green Rewards Card is a great option for small and medium-size companies. The rewards program offers cardholders one point for each dollar spent on eligible purchases. Though the program lacks some of the bonus point earning opportunities found with some charge cards, the card does include an easy-to-earn sign-on bonus of 5,000 points after making the first purchase with the card. Points can be transferred to over 20 frequent traveler programs, a great feature for those that travel often. The Business Green Rewards Card does have a foreign currency transaction fee of 2.7% of each transaction after conversion to U.S. dollars, but with no preset spending limit or finance charges, the card will be a solid solution for many organizations.
The Plum Card® from American Express OPEN rounds off the list of best business charge cards by offering flexible payment options and access to an early pay discount. With the Plum Card®, cardholders will receive a 1.5% discount for paying early. Although this figure may not sound too impressive, over time, the 1.5% discount can definitely add up to significant savings. In addition, cardholders will have up to 60 days to pay without interest, a great option for those looking for a little flexibility with the payment deadlines. The annual membership fee for the Plum Card® is $0 for the first year, then you’ll pay $250 annually, which is slightly above the average. There are also no annual fees for additional cards. Unlike the other top business charge cards, the Plum Card® does not include a rewards program, which may be a deal breaker for some. For those that like the straightforward discount, and prefer to not deal with points and rewards programs, the Plum Card® may be the right choice.