Franchise Owners! Save $1000s per Year Putting Spending on One of These Small Business Credit Cards

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Franchise Owners!  Save $1000s per Year Putting Spending on One of These Small Business Credit Cards

Joseph HostetlerFranchise Owners!  Save $1000s per Year Putting Spending on One of These Small Business Credit CardsMillion Mile Secrets Team

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You’re a small business owner.  And consequently, you’ve got a hair-raising amount of expenses each month.  Are you using the best credit card for your business spending?

Think of your credit card as your employee.  Give it an evaluation, and if it’s not working hard for you, fire it.  Then hire a credit card that will give you the best return for your money.  We’ll show you how to save $1,000s on your regular business expenses like advertising costs, fuel, and more.

To earn the most cash back for your expenses, we recommend these credit cards:

  • Ink Business Preferred℠ Credit Card – Our #1 small business credit card pick!  It comes with a welcome bonus worth $800 in cash after meeting a minimum spending requirement, and earns a bonus on expenses like advertising, cable and phone services, and travel
  • Ink Business Unlimited℠ Credit Card – No annual fee to worry about, 1.5% back on all purchases, and you’ll earn $500 in cash back when you’re approved and meet the minimum spending
  • Capital One® Spark® Cash for Business – You’ll earn 2% back on all purchases, a sign-up bonus of $500 cash back after meeting minimum spending, and the annual fee is waived the first year
  • Capital One® Spark® Cash Select for Business – This no annual fee card comes with a $200 cash welcome bonus after meeting a minimum spending requirement and earns 1.5% back on everything you spend
Business owners like a Bin There Dump That franchise leader will put LOADS of spend on a credit card each month.  Here are the best business credit cards for franchise owners

Best Business Credit Cards for Franchise Owners

One of my fellow team members here at Million Mile Secrets has a brother who is looking to save money while operating his Bin There Dump That franchise.  So I thought I’d help him decide which card is best for his situation.  Because many companies have similar expenses, this should be useful for lots of you.

The business credit cards we recommend most often are:

Top Pick – Ink Business Preferred

Apply Here:   Ink Business Preferred℠ Credit Card

Read our review of the Ink Business Preferred

Most of us on the team have the Ink Business Preferred.  It’s one of the best credit cards – period.  You’ll earn 80,000 Chase Ultimate Rewards points (worth $800 cash) by opening this card and spending $5,000 on purchases in the first 3 months of opening the account.

Or instead of cash back, you can use those points to book travel (like airfare, hotels, rental cars, cruises, etc.) through the Chase travel site (it’s like Expedia) to receive $1,000 in free travel.  The card earns:

  • 3 points per $1 (3% back) on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
  • 1 point per $1 (1% back) on all other purchases – with no limit to the amount you can earn

It’s got a $95 annual fee.  But employee cards are free, and you’ll get to keep all the rewards from their spending, too.

Extra perk…

Cell Phone Protection:   You get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Ink Business Preferred Credit Card.  (Maximum of 3 claims in a 12 month period, with a $100 deductible per claim.)

It’s pretty good idea to pay your cell bill with the Ink Business Preferred Credit Card anyhow, because remember, you’re earning triple points (3% cash back) on it.

No Annual Fee Version – Ink Business Unlimited

Apply Here:   Ink Business Unlimited℠ Credit Card

Read our review of the Ink Business Unlimited

The Ink Business Unlimited is similar to the Ink Business Preferred, but with no annual fee, and no bonus categories to keep track of.  You’ll receive $500 cash back when you spend $3,000 on purchases in the first 3 months of opening your account.  You’ll also earn 1.5% back on every purchase.

Best Earning Rate – Capital One Spark Cash for Business

Apply Here:   Capital One® Spark® Cash for Business

Read our review of the Capital One Spark Cash for Business

The Capital One Spark Cash for Business offers $500 cash for opening the card and spending $4,500 on purchases within the first 3 months of opening your account.  Plus you’ll earn 2% cash back on everything!

There is a $95 annual fee, but it’s waived the first year so you can try out the card at no cost to see how you like it.  And employee cards are free.

No Annual Fee Version – Capital One Spark Cash Select for Business

Apply Here:   Capital One® Spark® Cash Select for Business

Read our review of the Capital One Spark Cash Select for Business

The Capital One Spark Cash Select for Business is similar to the to the Capital One Spark Cash, but with no annual fee and slightly lower earning rates.  You’ll receive $200 cash after you spend $3,000 on purchases within the first 3 months of account opening.

Whether you want cash back or travel, there’s a solution for everyone

Which Small Business Card Is Best for Franchise Owners?

Let’s use the Bin There Dump That service as an example.  Overall, we recommend the Ink Business Preferred Credit Card because of the big sign-up bonus, flexible points (good for cash OR travel), and the great bonus categories for ongoing spend.  But these other options are good too.

1.   Gasoline

Estimated monthly cost:   $3,000 to $8,000

Best bet:   Capital One Spark Cash.  You’ll save between $720 and $1,920 on gas each year.

2.   Online Advertising

Estimated monthly cost:   $5,000 to $10,000

Best bet:   Ink Business Preferred.  You’ll save between $1,800 and $3,600 on advertising each year

3.   Dump Fees

Estimated monthly cost:   $15,000 to $20,000

Best bet:   Capital One Spark Cash.  You’ll save between $3,600 and $4,800 on dump fees each year

Okay, this one probably isn’t an expense you’ll have if you’re not a Bin There Dump That franchise owner, but there’s still a good principle here.

Lots of purchases you make don’t fall into a special category that gives you bonus cash or points (such as online marketing).  For these regular purchases, you’ll want to use a card that has a good return on ALL purchases, like the Capital One Spark Cash.

Credit Card Approval Tips

With credit cards like these, you generally don’t want to apply unless your credit score is 700 or above.  But both Chase and Capital One also have quirks when it comes to application rules.

Capital One

To open a Capital One Spark card, you must:

  • Never have declared bankruptcy or defaulted on a loan
  • Not have been more than 60 days late on a loan in the past year
  • Have retained a loan or credit card for 3+ years with a credit limit of $5,000+

Forums suggest that Capital One likes a credit score of 720 or above for their Spark cards.

Chase

Chase won’t approve you for the Ink Business Preferred or Ink Business Unlimited card if you’ve opened 5 or more credit cards from ANY bank within the past 24 months  (Important exception:  Business credit cards from American Express, Bank of America, Chase, Citi, and Wells Fargo don’t count towards your 5 credit card total.)

Quick Tips

Many times you’ll be instantly approved for the business credit card you want.  But if not, it’s no big deal.  Sometimes banks just need to verify that you’re the real business owner to prevent fraud.

And don’t worry about messing up your credit score by opening a credit card.  Opening credit cards does not ruin your credit score.  It’s the way you USE your cards that will determine your credit score.  Be responsible with credit and your credit score will likely increase, not decrease.  When you show banks you handle credit well, they are more likely to consider you for more credit in the future.

Final Thoughts

Best business card for franchise business owners:

  • Ink Business Preferred℠ Credit Card – Great sign-up bonus worth $800 or $1,000 for travel.  Terrific 3% cash back categories that you can max out for $4,500 cash back each account year.  Very good cell phone protection too.
  • Ink Business Unlimited℠ Credit Card – No annual fee. 1.5% back on all purchases, $500 intro bonus when you’re approved and meet the minimum spending
  • Capital One® Spark® Cash for Business – You’ll earn 2% back on all purchases, a sign-up bonus of $500 cash back after meeting minimum spending, and the annual fee is waived the first year
  • Capital One® Spark® Cash Select for Business – This no annual fee card comes with a $200 cash welcome bonus after meeting a minimum spending requirement, has no annual fee, and earns 1.5% back on everything you spend

We highly recommend the Ink Business Preferred Credit Card, but really you can’t go wrong… all of these are top business credit cards for saving money.  The catch?  You need an “excellent” credit score (720+) to be approved.

You can subscribe to our newsletter if you’re interested in more super effective money-saving tips!

And here’s our complete and detailed list of the best business credit cards.

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Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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