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Paying a credit card’s annual fee is not something most folks look forward to. Especially those new to our hobby of miles & points.
So I’ve put together a list of my favorite no-annual fee small business credit cards to help you minimize your out-of-pocket expenses! Credit cards that don’t have an annual fee are great, because you’ll never have to cancel them.
Here are my top 5 picks of small business credit cards with no annual fee.
5 Small Business Credit Cards With No Annual Fee
Small business credit cards are a great tool to help manage your business expenses and keep your personal spending separate. They can also offer opportunities to help your business save money!
And you may even qualify as a business without even knowing it! Read my post on ways you may qualify for a business credit card.
1. SimplyCash® Plus Business Credit Card from American Express
The SimplyCash® Plus Business Credit Card from American Express is my top pick because of its nice sign-up bonus and high rate for earning rewards.
The current offer for this card is:
- $250 statement credit after you spend $5,000 or more on qualifying purchases on your card within the first 6 months of opening your account
- 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores
- 3% cash back on 1 category of your choice (like gas stations, restaurants, and computer hardware & software)
- 1% cash back on all other purchases
- Terms and Limitations apply
The cash back you earn is automatically credited to your statement. You can spend up to $50,000 in the 5% and 3% categories per calendar year, then you’ll only earn 1% cash back.
This card has a 2.7% foreign transaction fee after conversion to US dollars. So it’s not the best card to use while abroad.
You can use your AMEX business credit card with American Express OPEN to get either extra Membership Rewards points OR a discount in the form of a statement credit. For example, you can get a choice of bonus AMEX Membership Rewards points or discounts with FedEx and Barnes & Noble.
And remember, you can only receive AMEX sign-up bonuses once per lifetime, so make it count! Check to see if you’re targeted for a better sign-up bonus by logging into your AMEX account, or by using the CardMatch tool.
Note: AMEX small business cards do NOT appear on your personal credit report. So applying for an AMEX small business card won’t prevent you from later getting Chase cards, despite their strict application rules.
2. Chase Ink Cash
Link: Ink Cash® Business Card
The Chase Ink Cash is a close 2nd because of excellent ongoing benefits that don’t normally come with a no-annual-fee credit card. Its rewards earning rate is only slightly below the AMEX SimplyCash Plus card.
- $200 (20,000 Ultimate Rewards points) after spending $3,000 on purchases within the first 3 months of opening your account
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
Plus, you’ll get primary car rental insurance when you rent for business purposes (secondary when renting for personal reasons).
This card charges a 3% foreign transaction fee in US dollars for each international transaction. So choose something else if you’re looking for a card to use overseas.
3. US Bank Business Edge Cash Rewards
The US Bank Business Edge card is a good option for folks who don’t want to meet a large minimum spending requirement. And for folks who might have lots of cards from other banks, like Chase and American Express.
With this card, you’ll get:
- $150 cash back after spending $500 on purchases within the first 90 days of opening your account
- 3% cash back on cellular, gas, and office supply store purchases
- An annual bonus of 25% of the cash back you’ve earned in the previous cardmember year, to a maximum of $250
Because of this card’s 25% bonus (to a maximum of $250), you’re basically earning 3.75% cash back in bonus categories and 1.25% cash back on all other spending! And there’s no cap to the amount of cash back you can earn.
This is NOT a good card to use overseas, because it adds a 2% foreign transaction fee.
4. Capital One Spark Cash Select for Business
The Capital One Spark Cash Select for Business card has a solid sign-up bonus, and an earning rate in line with many no-annual-fee credit cards.
The downside is that Capital One pulls your credit score from all 3 credit bureaus. Folks in the miles & points community don’t like this because the more recent credit inquiries you have on your report, the harder it is to be accepted for other credit cards.
If you apply for lots of cards, or have a blemish on 1 of your reports, you may want to consider a different card. Other banks generally only pull your credit score from 1 credit bureau.
- $200 cash bonus after you spend $3,000 on purchases within the first 3 months
- Unlimited 1.5% cash back with every purchase
This card has NO foreign transaction fees, which is a great perk for a no-annual-fee credit card! So this is a good card to use while traveling.
5. The Blue for Business® Credit Card from American Express
The Blue for Business® Credit Card from American Express does not have a great rewards-earning rate. But it gives a 30% bonus annually, which is a nice plus! And the minimum spending requirement is a cinch!
With this card, you’ll get:
- 10,000 AMEX Membership Rewards points after making your first purchase on the card within 3 months of opening your account
- 2X points when you book travel on the American Express Travel website
- 1 point per $1 everywhere else
- Annual 30% bonus on rewards earned
- Baggage insurance covering $1,250 for carry-on baggage and up to $500 for checked baggage
- Secondary auto coverage
- Terms and Conditions apply
This card does NOT earn AMEX Membership Rewards points that are transferable to AMEX travel partners. You can only redeem your points to buy travel, gift cards, merchandise, and entertainment.
You will be charged a 2.7% foreign transaction fee when using the card abroad. So it isn’t the ideal card for overseas spending.
Again, you can only receive AMEX sign-up bonuses once per lifetime. And you can use your AMEX business credit card with American Express OPEN to get either extra AMEX Membership Rewards points, or a discount in the form of a statement credit.
Small business owners know the importance of being frugal! So I’ve compiled a list of my top 5 picks for no-annual-fee small business cards.
Business credit cards are a good way to keep your personal and business expenses separate. And you may qualify for a business without even realizing it! Take a look at my post on ways you might qualify for a business credit card.
Which no-annual-fee small business credit cards would you add to the list?