CLEAR is available at more than 50 U.S. airports and stadiums. Check your states labor department website for the most up-to-date regulations. Checking vs. Savings Account: Which Should You Pick? In 2022, Small Business Saturday took place on Nov. 26, offering entrepreneurs the opportunity to compete with larger brands as the holiday shopping season approaches. Pay your bill on time, and you can be automatically considered for a credit limit increase in as little as six months with no additional deposit. Today, she edits all CardRates content for clarity, accuracy, and reader engagement. No late fees or interest charges because this is not a credit card. . Earn a one-time $300 cash bonus after you spend $3,000 on purchases in the first three months from account opening. Plus, the ongoing APR is on the highend at. Our expert loves this top pick,which featuresa0% intro APRuntil 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. You can also book a flight, car rental or hotel through the Capital One Travel Portal (or call if youd rather book by phone) and use your miles to pay for them. The maximum penalty for a violation was raised to $13,494 for 2020. Capital One Walmart Rewards Mastercard. No Overdraft Fees on purchases using your card. Earn 2X Membership Rewards points on everyday business purchases such as office supplies or client dinners. Read our full The Blue Business Plus Credit Card from American Express review or jump back to offer details. Smaller spenders might come out ahead compared with the regular version. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. They can provide businesses with rewards on everyday spending, help cover expenses and assist in building business credit, making it easier to borrow in the future and qualify for a lower credit card APR. The employer must reimburse the employee for the $25 gas expense. This card for people with fair or "average" credit pays the same cash-back rate as the regular Quicksilver card, which targets people with excellent credit. Get 5X Membership Rewards points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases. If you wish to use your card to build credit, consider a secured credit card instead. the Business Platinum Card from American Express, How to choose between the Amex Business Gold and Amex Business Platinum, the Blue Business Plus Credit Card from American Express. Employee cards are free and also earn 2x on all spending. When you reimburse employees at a higher rate, the extra amount is counted as gross wages and is subject to payroll taxes. Our guide to Divvy card benefits and features, don't have a registered LLC or corporation, expert reviews on all of the major business credit cards, small business instead of a personal card, use your personal credit card to make business purchases, business credit can affect your personal credit, freelancers, independent contractors and gig-economy workers, helpful tips on how business owners can capitalize on the holiday shopping season, comparison of corporate and small-business credit cards, How business credit affects your personal credit, business credit cards that do not require a personal guarantee, California Consumer Financial Privacy Notice, 5% cash back on internet, cable, phone services and office supply stores (up to $25,000 a year in combined purchases), Unlimited 1.5% cash back on business purchases, 4X points on up to $150,000 per year in two select categories your business spends the most in each billing cycle and 2X points on rental cars booked through, 2% cash back on up to $50,000 per calendar year, then 1%, cash back earned is automatically credited to your statement, The Blue Business Plus Credit Card from American Express, 0% intro APR on purchases for 12 months from account opening, then 16.99% to 24.99% variable, 5% cash back on travel booked through Chase travel portal, 2.5% cash back on purchases over $5,000, 2% cash back on all other eligible purchases, The Business Platinum Card from American Express, 5X Membership Rewards points on flights and prepaid hotels booked with AmexTravel.com; 1.5X points on eligible purchases in key business categories and on purchases of $5,000 or more everywhere else (cap applies) and 1X points on all other purchases, Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card. Sign-up bonus: Earn 20,000 bonus miles after you spend $500 in the first three months of account opening. (You could be able to deduct it as a business expense on taxes, though.) Our pick for: College students seeking simple rewards. Learn more: Why expert Holly Johnson loves the Capital One Spark Cash Plus card. Load One Time Keep On Using, Absolutely No Credit Check or Minimum Credit Score Required, Automatic Reporting to All Three National Credit Bureaus. Its unlikely that a no-annual-fee, offers as many bonus categories, but the SavorOne does it all. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. After the intro APR offer ends, a Variable APR that's currently 15.99% to 25.99% will apply. Small-business credit cards are great at helping you to track your expenses and come up with quarterly and year-end summaries that help you to prepare your taxes. The cards $95 annual fee can be hard to justify if you dont stay at Hilton hotels and take advantage of as many perks as possible, Hilton points are not valued as high as other reward programs points, making this a poor choice for general business purchases if you arent a Hilton loyalist. The sign-up bonus is one of the largest you'll find. earns a decent rewards rate on all purchases as you work to strengthen your credit. The key difference is that this version charges an annual fee while the regular one does not. The sign-up bonus is smaller than on the annual-fee version, too, but it's still solid. The Capital One Spark Miles for Business offers a simple way to earn rewards on every business purchase, no matter the category. You also forgo the opportunity to build your business credit when you use your personal credit card to make business purchases. If you're a one-card kind of person rather than someone with a card for every occasion, you might get more value from a card that pays 1.5% or 2% cash back on every purchase. In fact, this card is so good that our expert even uses it personally. Discrimination can be intentional or caused by policies with a "disparate impact" on protected employees. The employer must reimburse the employee for the $25 gas expense. A Beginners Guide to Using a Credit Card, Chase Credit Cards For Students & Alternatives, - Best Prepaid Debit Cards With Direct Deposit. Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months of account opening. However, you should always read your cardholder agreement because prepaid cards are not 100% fee-free. Qualified mileage reimbursement costs include: The mileage rate helps cover costs like gas, oil changes, maintenance, and insurance. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Ink Business Premier Credit Card, The Business Platinum Card from American Express, Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card, Bank of America Business Advantage Customized Cash Rewards Mastercard credit card, Hilton Honors American Express Business Credit Card, Ink Business Unlimited Credit Card review, Capital One Spark Miles for Business review, American Express Business Gold Card review, American Express Blue Business Cash review, The Blue Business Plus Credit Card from American Express review, Business Platinum Card from American Express review. . This type of card might be best for your business if you have a large number of employees and complete large transactions frequently in your day to day business operations. Read employee reviews and ratings on Glassdoor to decide if Barclays is right for you. On the other hand, if you use your personal credit card for your business purchases, its difficult to keep track of which purchases were business related and which were not. apart is that it earns high rewards for both the dinner and the movie. Otherwise, you will be charged a 2.99% monthly late fee. Read our review. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers. However, if the issuer needs to take a closer look at your application, youll most likely receive a decision within two weeks. No minimum balance required. It also offers an automatic credit limit review, plus the possibility of an upgrade path to a higher-tier Capital One card eventually. Updated Aug. 5, 2022 - First published on May 18, 2022. Like the other Capital One cards on this list, this card doesnt charge foreign transaction fees. Any records with medical information must be stored securely. Every reasonable effort has been made to maintain accurate information. Learn more: Ink Business Cash Benefits Guide. Some card issuers, including ACE Credit Express, maintain cash advance loan centers that accept cash reloads for your card account. It's that simple, Help strengthen your credit for the future with responsible card use. Our mission: to inform and educate our visitors about the world of credit cards, encouraging better credit decisions and a brighter financial future for all. While we dont value them quite as high as Amex or Chase points (both of which come in at 2 cents apiece), youre still getting a solid value from your miles. With more than a decade of experience as a content manager and marketer, Ashley has specialized in finance coverage since 2015. The $0-annual-fee card not onlyearns unlimited rewards, butit also allows you to redeem your rewards in any amount, at any time. Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers. You can take a deduction for the business use of your personal car on Schedule C of IRS Form 1040. This card charges a variable monthly maintenance fee thats based on your balance and direct deposit history. Don't End Up Paying Monthly Fees. Pre-qualified offers are not binding. When you use the IRS mileage rate for these costs, theyre not taxable to your employees and are deductible for your business. The Capital One SavorOne Student Cash Rewards Credit Card is among the best in its class, thanks to its rich rewards in several popular spending categories for students. Like most secured cards, this card doesn't earn rewards. Proper HR document management is also important to protect your employees' sensitive information. Its customary now for employees to use their personal vehicles for work. Capital One made its Venture and Sparks Miles cards more valuable, offering the ability for cardholders to transfer miles to travel partners mostly at a 1:1 ratio (with only a few exceptions). These cards accumulate debt and interest rate charges and require a monthly payment to reimburse the bank. You simply get an unlimited 2 miles per dollar spent on everything. Please view our advertising policy page for more information. 1% cash back on all eligible purchases after spending $50,000 per calendar year. But beware that theres no grace period for purchases read the cardholder agreement for more details. In fact, itearns the same rate as the regular version of this card for people with excellent credit. is one of just a handful of cards foraverage credit that earn rewards. Click Get My Card for full details. Before joining Bankrate, he was an award-winning newspaper journalist in his native North Carolina. Read our review. You might also consider getting a small-business card for the benefits. Our advice follows strict editorial guidelines and is updated regularly for accuracy. We have not reviewed all available products or offers. , which is steep if you plan on carrying a balance. Copyright, Trademark and Patent Information, Job advertisements, position descriptions, resumes, application forms, and nonmedical screening tests for all applicants, Background checks, credit reports, and financial records, I-9s and copies of forms of identification (IDs), 3 years after hire or 1 year after separation in a secure, separate file with all employee I-9s, Employment offers and contracts, employee handbooks, and other signed documents, Medical records, health insurance enrollment forms, disability records, accommodation requests, medical exams, doctors' notes, and drug test results, 1 year with separate, secure storage and disposal, Performance appraisals, disciplinary records, awards, and attendance records, Separation records including exit interviews, reasons for termination, termination or resignation letters, severance agreements, and other separation agreements, Nonmedical benefit plans, offers, and records. How Much Does Home Ownership Really Cost? Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Personal credit cards also offer fewer protections for your business. In fact, itearns the same rate as the regular version of this card for people with excellent credit. The rewards program is straightforward; its also generous for a no annual fee card. Read our full Ink Business Cash Credit Card review. Our pick for: Dining/entertainment rewards + no annual fee. The front office drives revenue generation and includes divisions such as corporate finance, sales and trading, and research. To be safe, it's best to store all of these records for seven years. If new contracts replace old ones, keep the current copy in the file and destroy the old version. It also lets you take advantage of the intelligence buried in all that paperwork. Related: Capital One Spark Miles for Business card review. There are credit cards out there with more valuable individual bonus categories, but if youre looking for a no-frills, no-nonsense card with multiple solid bonus categories all in one package, the Savor is a great choice to consider. Earn unlimited 1.25X miles on every purchase, every day. Read our review. reports to all three of the major credit bureaus and may give you access to a higher credit line without an additional deposit afteryou make your first five monthly payments on time. Bankrate.com does not include the entire universe of available financial or credit offers. Another key difference is that a prepaid Visa card will not help you build credit because the account has no attached credit line. Bankrates editorial team writes on behalf of YOU the reader. You can also typically use your Visa prepaid card account to accept a direct deposit of your paycheck or government benefits checks. -annual-fee card not onlyearns unlimited rewards, butit also allows you to redeem your rewards in any amount, at any time. Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer. The card pays unlimited 4% cash back on dining and entertainment, 2% cash back at grocery stores, and 1% cash back on all other purchases. Given its backed by the trusted name of Visa, the BusyKid Spend Card is widely accepted in stores and online, BusyPay is an easy way for family or friends to instantly send money to a childs BusyKid account, Choose from a variety of card designs to find which fits your busy kid best, Manage and control your money on one convenient reloadable prepaid card, Get paid up to 2 days faster with direct deposit. You canchoose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Unlimited 1.5% cash back on all purchases with no annual spending caps. Cards with a higher annual fee may also offer benefits specifically designed for business owners, such as accounting software, free employee cards and business expense discounts. Captivating commentary from newsmakers, authors, experts and others on topics you care about from politics to family, faith, values and more. You simply get an unlimited 2 miles per dollar spent on everything. If you've already built good credit, you can probably score a card with higher rewards than this card offers. Erica Sandberg and Mariah Ackary provide helpful tips on how business owners can capitalize on the holiday shopping season. Read our full Hilton Honors American Express Business Card review. Just make sure that you can pay off your spending in full each month, as this is a charge card that doesn't let you revolve a balance. Your document management system should put an automatic hold on an employee's personnel file following a complaint to avoid accidentally destroying any relevant documents. This post contains references to products from one or more of our advertisers. The IRS, however, requires payroll tax records to be stored for four years, and state tax laws may prescribe an even longer retention period. Thats why youve got the power to spend beyond your credit limit with Expanded Buying Power. Which certificate of deposit account is best? Legal liability: If an employee sues and you can't produce records required by the court, you could lose the lawsuit and face additional charges of spoliation of evidence. Businesses already shouldering high monthly expenditures should consider capitalizing on this cards top-notch sign-up bonus. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Just as youd pay for an employees plane ticket, you should reimburse employees when they use their personal car for business. For small business owners, this card offers a lot of value despite the hefty annual fee. Benefits: The Capital One Venture X Rewards Card is the issuers first premium rewards credit card. Earn a one-time $200 cash bonus after you spend $500 on purchases in the first three months of account opening. Understanding Homeowners Insurance Premiums, Guide to Homeowners Insurance Deductibles, Best Pet Insurance for Pre-existing Conditions, What to Look for in a Pet Insurance Company, Marcus by Goldman Sachs Personal Loans Review, The Best Way to Get a Loan With Zero Credit. 3.9 28,975 Reviews Glassdoor has 16,374 Barclays reviews submitted anonymously by Barclays employees. While these arent the only Capital One credit cards on the market, these are the ones weve identified as the most beneficial for our readers. As an employer, always check expense report calculations to make sure the Excel formulas are working correctly. If you have a household employee, you might want to apply for an employer identification number from the IRS. offers a compelling combination of a good rewards rate, redemption flexibility, sign-up bonus and introductory 0% APR period. The Capital One Venture X Rewards Card is the issuers first premium rewards credit card. Read our full American Express Blue Business Cash review. isn't going to wow anyone; there's no sign-up bonus and the APR is high. Earn 50,000 bonus miles after you spend $4,500 in the first three months of account opening. When an employee earns at or near minimum wage, any unreimbursed expense triggers the FLSA kickback violation. Miles and miles of reimbursement This means your rewards are flexible they can cover expenses for standard airline and hotel charges but also for non-traditional travel purchases such as helicopter rides or cruises (neither of which are typically easily covered by points/miles). Learn more: Capital One Spark Miles for Business vs. Capital One Spark Cash Plus There's a sign-up bonus, too: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel. Other business cards offer this perk for you and four (or more) passengers, No introductory APR offer and a high penalty APR if you make a late payment make this a poor card to use if you dont intend to pay your balance in full every month. Businesses that expect to spend $50,000 or more in their first six months should look to the Capital One Spark Cash Plus, which offers a higher bonus and rewards rate (for a higher annual fee). Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening, Earn unlimited 1.5% cash back on every purchase, every day, Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Here are a few factors to consider: If your expenses are concentrated in one category like travel, then search for the best business credit card that offers rewards for those kinds of purchases. $0 introductory annual fee for the first year, then $99. You can redeem your miles at a fixed value or by transferring rewards to airline and hotel partners. Capital One Spark Miles for Business vs. Capital One Spark Cash Plus. A credit score in or above the recommended range means you have a higher chance of approval, but doesnt guarantee it. It pays a lower cash-back rate on dining and entertainment than the regularSavor card, but the rewards are nevertheless quite good. If you're willing to keep track of rotating bonus categories, or if you spend heavily on things like gas and groceries, you might do better with a card that pays higher rewards on select purchases. This card for people with fair or "average" credit pays the same cash-back rate as the regular Quicksilver card, which targets people with excellent credit. Capital One Spark Miles Select for Business. There is no APR because the balance must be paid in full every month. Dining, entertainment and groceries are high-value bonus categories, and its rare for a card to hit all three. Plus, you'll get a great intro 0% APR period. Plus, the ongoing APR is on the highend at 28.49% Variable APR. Ashley Dull works closely with industry leaders in all sectors of finance to develop authoritative guides and advice articles read by millions of Americans. Many or all of the products here are from our partners that pay us a commission. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021. Terms apply. Our partners compensate us. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifes financial journey. What won't you find on any Capital One card? Earn Hilton Honors Bonus Points for each dollar of eligible purchases on your Card: 12X at hotels and resorts in the Hilton portfolio, 6X at U.S. gas stations, on U.S. purchases for shipping, on wireless telephone services purchased directly from U.S. service providers, on flights booked directly with airlines or with Amex Travel, on car rentals booked directly from select car rental companies, and at U.S. restaurants, 3X on all other eligible purchases. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access You may encounter a monthly maintenance fee, a cash withdrawal fee (such as through a Moneypass ATM), or a transaction fee using these cards. If you own a business or youre even planning to start one, separating your business finances from personal accounts should be high on your list of things you do. 2 miles per dollar spent on all purchases. This small business card comes with a number of notable bells and whistles, including budgeting software, expense management tools and a gamified rewards program. The FLSA kickback rule comes up commonly for food delivery drivers who use their own cars. The information for the Capital One Savor card has been collected independently by The Points Guy. More Rewards: Get 4X Membership Rewards points on the 2 select categories where your business spent the most each month. Other cards earn higher flat rewards rates and could prove more valuable even if they carry annual fees. Cash back earned is automatically credited to your statement. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more. Still, its a common practice your business should adopt to keep your employees from opening their wallets to fund business expenses. Some prepaid card issuers will waive your monthly maintenance fee if you receive regular direct deposits. Our partners cannot pay us to guarantee favorable reviews of their products or services. The Capital One Platinum Credit Card is an ideal choice for those with average credit who don't carry a balance, don't want to pay for carrying a card and appreciatean incentive for responsible behavior. You can earn miles on United and common business purchases while taking advantage of a number of travel benefits. There's an annual fee, and it's pretty steep for a cash-back card: $95. In addition to ensuring legal compliance, careful records management can provide insights to drive HR policies, protect your employees' sensitive information, and reinforce HR best practices. $189 CLEAR Credit: Use your Card and get up to $189 back per year on your CLEAR membership. We maintain a firewall between our advertisers and our editorial team. However, credit score alone does not guarantee or imply approval for any financial product. The Capital One Spark Miles for Business is basically a business version of the popular Capital One Venture Rewards Credit Card. Read our review. Read our full Ink Business Cash Credit Card review or jump back to offer details. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. You create a performance improvement plan, but the problems continue. Know this information or have it readily available when applying for your small-business credit card: After determining which card is the correct fit for your business and going through the application process, you may receive a decision instantly. Comes with no preset spending limit, so it can adapt to your needs based on your spending behavior, payment history and credit profile, Earn an annual $200 cash bonus every year you spend $200,000 or morethat's enough to cover your annual fee and then some, Add employee cards for free, and earn unlimited 2% cash back from their purchases, Spark Cash Plus has no APR because your balance is due in full every month. The Capital One Venture Rewards Card first earned its place by offering a consistent 2 miles per dollar on all purchases and a. put it in a league of its own. Nearly every card issuer allows cardholders to accept direct deposits of checks into their account as a way of adding money. See if you're approved in seconds, Be automatically considered for a higher credit line in as little as 6 months, Help build your credit through responsible use of a card like this, Monitor your credit score with CreditWise from Capital One. . requires a security deposit, as do all secured credit cards. Read our review. If you expect to put more than $19,000 a year on the card, you'd come out ahead with the Capital One Spark Cash for Business, described above, even with its annual fee. Ryan Lasker is an SMB accounting expert writing for The Ascent and The Motley Fool. Your business can deduct mileage reimbursement costs for business trips that exclude an employees regular commute. Many consumers carry a prepaid Visa card or another reloadable card so they dont have to carry cash with them. Authorized users you get four of them at no cost enjoy their own Priority Pass Select membership and Hertz Presidents Circle status. However, theyre designed for different types of businesses. The rewards typically come in the form of cash back or travel miles. That means you could earn up to an unlimited 2.62% cash back on all purchases. Some business credit cards also require a personal guarantee from the business owner, meaning the owner promises to pay the credit card balance if the business itself cannot repay its debts. The $0-annual-fee card earns a flat 1.5% cash back on all purchases, a solid rate even compared with many traditional "unsecured" cards. Rewards: Earn an unlimited 2% cash back on every purchase, everywhere. American Express Blue Business Cash Card: The Blue Business Plus Credit Card from American Express: New Business Card! Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. TheCapital One SavorOne Cash Rewards Credit Card the $0-annual-fee version of Capital One's popular dining card pays unlimited 8% cash back on Capital One Entertainment purchases; 3% cash back on dining, grocery stores and entertainment, including streaming services; and 1% back on all other purchases. Plus, you'll get a great intro 0% APR period. Just make sure youre getting more than $95 worth of cash back from it year after year otherwise, you might want to consider the no annual fee, Capital One SavorOne Cash Rewards Credit Card, instead. And, if you dont want to pay an annual fee and prefer a fixed earning rate, the Quicksilver is a reasonable choice. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The Capital One Quicksilver Student Cash Rewards Credit Card is a simple and straightforward pick that offers solid rewards on every purchase. 1X is earned for other purchases. Learn more: Our guide to Divvy card benefits and features However, there are other options that offer more flexibility to redeem your rewards. Keep in mind, its a charge card; youll need to pay your balance off in full each month. is a pure cash-back card that aims to compete on its earning rates, not on perks and benefits. Learn more: Tap into the benefits of the Capital on Tap Business Credit Card. Have more questions for our credit cards editors? Apply for Capital One Venture Rewards Credit Card, for Capital One Venture Rewards Credit Card, Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. From workflow to inventory to floor plans, your business is constantly changing. Benefits: The Capital One SavorOne Cash Rewards offers high cash-back returns on some of your most popular everyday purchase categories. . Businesses can enjoy free employee cards and, Global Entry or TSA PreCheck enrollment fees. The business owner, Artie, should find the difference between the odometer readings and multiply it by the standard mileage reimbursement rate. ACE Elite Visa Prepaid Debit Card users can turn their card account into an interest-earning savings account that earns as much as 5% interest on balances over $1,000. You can use a secured card the same as you would a credit card. How Much Does Home Ownership Really Cost? If you've already built good credit, you can probably score a card with higher rewards than this card offers. OSHA requires employers to securely store records of accidents for five years. Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. , which offers a higher bonus and rewards rate (for a higher annual fee). Read our review. The annual fee is one of the priciest on the market. Though, to make up for the $150 annual fee, make sure that your business has more than $7,500 in expenses per year. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. If you're using thewrong credit or debit card, it could be costing you serious money. What makes this card valuable is that it's available to business operators with fair credit (a FICO score between 630-689), who don't have a lot of options in business credit cards and it has no annual fee. You earn 2 miles per dollar on all purchases, and miles can be redeemed at a value of 1 cent apiece for any travel purchase, without the blackout dates and other restrictions of branded hotel and airline cards. Activate Today with a $200 Minimum Deposit Maximum $1,000. The card earns 2 miles per $1 spent on most purchases, among the best rewards rates in its class. Rewards: 10 miles per dollar on car rentals and hotels booked through Capital One Travel, 5 miles per dollar on flights booked through Capital One Travel and 2 miles per dollar spent on all other eligible purchases. Fewer protections: Business credit cards are not required to offer the same consumer protections as personal cards under the Credit CARD Act of 2009, though many issuers do voluntarily extend these protections to their business products. auto maintenance, pharmacies, medical bills). Kyle Olsen, Reporter, Related: Capital One Venture X Rewards Card review, ___________________________________________________________________________. No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn. But while most cards require you to put down a deposit equal to your credit line, this one allows some qualifying applicants to get a $200 credit line with a deposit starting at $49. For 2020, the federal mileage rate is $0.575 cents per mile. Read our review. Love the night life but dead-set against paying an annual fee? While cards in this category are designed to offer business-focused perks, the most premium benefits are typically accompanied by an annual fee. To tie it all together, enjoy. Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. The scoring formulas take into account multiple data points for each financial product and service. If your business spends heavily in specific areas, you might do better with a card offering higher rewards in those categories. Our pick for: Small business travel rewards + no annual fee. The 2 percent cash back is capped to your first $50,000 in purchases per year (1 percent thereafter). The entertainment category is broad and includes things like movie tickets, concerts, sporting events, tourist attractions, theme parks, dance clubs, record stores and more. TPG currently values Capital One miles rewards at 1.85 cents per mile. ; The middle office supports processes that are related to revenue generation, such as risk management and treasury. Digital delivery of these funds is fast and often puts money in your hands up to two days faster than if you were to receive a paper check through the mail. The Capital One Platinum Secured Credit Cardreports to all three of the major credit bureaus and may give you access to a higher credit line without an additional deposit afteryou make your first five monthly payments on time. That means you could earn up to 5.25% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases. Theres even a two-tiered sign-up bonus that gives both moderate and frequent business travelers a chance to quickly earn an impressive amount of bonus miles. Read our full Ink Business Premier review or jump back offer details. If entertaining clients or fueling up is a regular part of your business world, you're likely to enjoy earning 2 percent cash back at restaurants and gas stations (on your first $25,000 in combined purchases per account anniversary year, then 1 percent). You dont need a formal business structure to apply for one. The offers that appear on this site are from companies from which Bankrate.com receives compensation. Why expert Holly Johnson loves the Ink Business Unlimited Card. All financial products, shopping products and services are presented without warranty. This gives you greater flexibility and freedom in your spending. Contactless Cards - the security of a chip card, with the convenience of a tap. Terms apply. Youll also enjoy unlimited cards to use for your company and a modest flat-rate of cash back on all purchases. Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening, Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart and Target), plus 1% on all other purchases, Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024, Earn 8% cash back on Capital One Entertainment purchases, No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn, 0% intro APR on purchases and balance transfers for 15 months; 17.99% - 27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months, College students: Bonus cash-back rewards. Terms apply, No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn, 0% intro APR on purchases and balance transfers for 15 months; 17.99%-27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months, Cash back: Dining, groceries, entertainment. The flat miles and cash back earned on Capital One Venture X, Capital One Venture, VentureOne, Spark Miles and Quicksilver cards make things simple for cardholders, since you dont have to worry about remembering which spending categories offer higher rewards. Read our full review of the Capital One Quicksilver Cash Rewards Credit Card. Read our review. A reloadable debit card is also a great tool for creating a budget, as it only allows you to spend the amount of money youve loaded onto your card. You can use your card everywhere Visa is accepted, including online or to pay bills, and never have to worry about accruing debt. Plus, employee cards at no additional cost - miles earned from their purchases accrue in your account so you can earn rewards faster. Earn 75,000 bonus miles after you spend $5,000 on purchases in the first 3 months your account is open. There are no bonus categories to keep track of, no limit to how much you can earn, and rewards don't expire. Get 5X Membership Rewards points on flights and prepaid hotels on amextravel.com, Earn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. Terms, conditions and limitations apply. While we dont value them quite as high as Amex or Chase points (both of which come in at 2 cents apiece), youre still getting a solid value from your miles. The annual fee is$0. The APR on this card is high. With responsible use, you can be considered for a higher credit line in as little as six months. Bank of America Business Advantage Customized Cash Rewards Mastercard credit card, 3% cash back on your choice of one of six categories, 2% cash back on dining (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), Unlimited 1.5% cash back, with no impact to your credit score when you apply, 2 miles for every dollar spent on United purchases, dining, at gas stations, office supply stores and on local transit; 1 mile for all other purchases, Hilton Honors American Express Business Card, 12X points on Hilton properties, 6X points on select business (U.S. gas stations, U.S. cellphone service providers and U.S. shipping purchases) and travel purchases (U.S. restaurants, airfare booked through Amex Travel and select car rentals) with 3X points on all other purchases, 3X points on the first $150,000 annually in combined travel, shipping purchases, internet, cable and phone services, Up to 7X rewards points with the amount varying by spending category and how often you pay your bill. This documentation can protect you in case of complaints regarding promotions and compensation. great airline and hotel transfer partners, as the Venture family of cards. Look further than cash back percentages and points rewards to see what else a card has to offer, from airport lounge access to free additional employee cards and other tools that can help your business grow. Home equity line of credit (HELOC) calculator. The bank spent more than two years phasing out screen scraping and migrating companies to the API, which also happened in phases depending on when the bank signed data-sharing agreements. Terms apply to the offers listed on this page. Should you accept an early retirement offer? The card doesnt charge foriegn transaction fees. This offer may not be available if you leave this page or visit our website. An example is an Illinois case, Mohr v. Weather Tech, in which the company discarded an employee's calendar after her termination for excessive absences. Even if you don't have a registered LLC or corporation, you may be eligible to apply. Read our full Bank of America Business Advantage Customized Cash Rewards Mastercard credit card review. Freelancers, contract workers, online merchants and all kinds of gig workers can qualify for business credit cards. made its Venture and Sparks Miles cards more valuable, , offering the ability for cardholders to. Read our full Ink Business Unlimited Credit Card review. Its 15-plus transfer partners put it in a league of its own. Balances up to $1,000.00 currently earn up to 5.00% annual percentage yield. . Bankrate has answers. **, **4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year. Title VII of the Civil Rights Act (Title VII) requires you to keep records for one year, but the Age Discrimination in Employment Act (ADEA) requires three, so you'll need to comply with the higher standard. Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores and 1% on everything else. Our editorial team does not receive direct compensation from our advertisers. With no annual fee and a simple 1.25 miles per dollar rate on all purchases, youll earn miles that can be used for travel purchases or transferred to Capital Ones 16 airline or three hotel partners. INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back! There are no rewards. Invest some time in determining the ideal type of small-business credit card for your business so that you can reap the most valuable benefits. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), and Microsoft. Official application link: Capital One Quicksilver Cash Rewards. Check the banks website for the most current information. Glassdoor. No bonus categories means that you may not necessarily maximize all your purchases to the fullest. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Dinner and a movie? Flexibility is one of the most valuable elements of a good points strategy, and the Venture card delivers loads of it by allowing you to decide on a case-by-case basis, whether to use it as a fixed-value or transferable-points card. by Ryan Lasker | You may also be charged a cash reload fee if you use a offers an impressive combination of features for those with poor credit. When the company couldn't produce it, the employee filed a negligent spoliation claim. Earn unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases. The FLSA says those costs cannot cause an employees hourly rate to fall below minimum wage. Within that flow there are private documents, legal documents, signed and unsigned documents, and some documents you may not even need. The bonus offer is big, but so is the spending required to earn it. Workplace exposure to hazardous substances must be retained for 30 years because of potential long-term health effects. $0 annual fee and no foreign transaction fees, Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel, Earn unlimited 1.25X miles on every purchase, every day, Enjoy 0% intro APR on purchases and balance transfers for 15 months; 17.99% - 27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months, Travel: Rich benefits for travel portal users. Theres also a terrific sign-up bonus: There's an annual fee, and it's pretty steep for a cash-back card: . The card earns 2 miles per $1 spent on most purchases, among the best rewards rates in its class. When you cancel your secured card account, youll receive a complete refund of your deposit amount as long as your account has no outstanding debt. Benefits: The Savor Rewards from Capital One is a pure cash-back card that aims to compete on its earning rates, not on perks and benefits. But the issuer's cards are more than hype they include generous rewards cards as well as excellent products forbusiness owners, students and those with average or poor credit. It's important to document an employee's record of employment, beginning all the way back to the recruiting and hiring process. The Capital One Spark Cash Select - $500 Cash Bonus is a solid choice for entrepreneurs who don't spend as much: unlimited 1.5% cash back and a $0 annual fee. The original 1.5% flat-rate cash-back card still holds its own in a now-crowded field. Capital One has been on an upward trend by constantly improving its portfolio of transfer partners and transfer ratios for certain loyalty programs. Official application link: Capital One Venture. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. HR software can collect this information and even crunch the numbers and run reports for you. And the card doesn't charge foreign transaction fees. If you prefer to reserve directly with airlines or hotels, best to stick with the standard Venture card. To pay for all this, the senators consulted a menu of revenue options staff had prepared. If your application is denied, consider applying for another card or call the issuers reconsideration line. Just hover your card over a contactless reader, wait for the confirmation, and you're all set, Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you. The $0-annual-fee card earns 8% cash back on Capital One Entertainment purchases; 3% back on dining, entertainment purchases, popular streaming services and grocery store purchases; and 1% back on all other purchases. You earn cash back on every purchase, but when you pay your bill on time, the cash-back rate for that month gets a boost. Small-business credit cards are a great way to earn additional rewards for your company purchases while giving you a chance to separate them from your personal charges. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct instructor at the University of Florida. Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases. 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.99% - 24.99%, based on your creditworthiness and other factors as determined at the time of account opening. Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account, Transfer your miles to 15+ travel loyalty programs, Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services, Fly through security with one statement credit for either the $85 TSA PreCheck application fee or the $100 Global Entry application fee, $0 intro annual fee for the first year; $95 after that, Free employee cards which also earn unlimited 2X miles from their purchases, Unlimited 1.5% cash back on all purchases, Other cards offer more potential and upside when it comes to redeeming cash back, Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn, 0% intro APR on purchases and balance transfers for 15 months; 17.99%-27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months, Earn unlimited 2% cash back on every purchase, everywhere - with no limits or category restrictions, Comes with no preset spending limit, so it can adapt to your needs based on your spending behavior, payment history and credit profile, Earn an annual $200 cash bonus every year you spend $200,000 or more - that's enough to cover your annual fee and then some, Add employee cards for free, and earn unlimited 2% cash back from their purchases, Spark Cash Plus has no APR because your balance is due in full every month. Earn unlimited 1.5% cash back on all purchases everywhere, every time. Easy-peasy describes this card's simple earning and redemption structure. The company provided the car and paid for related expenses such as gas, insurance, and maintenance. The Capital One Spark Cash Plus is the ideal card for business owners who want to maximize their expenses but cant keep up with multiple purchase categories. And the card doesn't charge foreign transaction fees. When you have poor credit, a secured card can help. The Capital One Spark Miles Select for Business offers a lower rewards rate and a smaller bonus offer than the regular Spark Miles card, but there's no annual fee, either. That's not an issue if you pay in full everymonth,but look elsewhere if you expect to carrydebtfrom month to month. Read our full, Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, Earn unlimited 2% cash back on every purchase, everywherewith no limits or category restrictions, Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. The $0-annual-fee card earns 1.5% cash back on all purchases. Amex Blue Business Plus vs. Amex Blue Business Cash. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. About / Press; Awards; Blog; Research; Earn 75,000 when you spend $4,000 on purchases in the first three months from account opening. Bankrate.com is an independent, advertising-supported publisher and comparison service. Earn up to $2,000 in bonuses with this Citi checking account. If I'm on Disability, Can I Still Get a Loan? Theres no minimum redemption amount, either. Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Keep all performance assessments and disciplinary records on file for at least two years. Using a personal credit card for your small business can create several issues for you and your business down the line, while using a business credit card keeps your business finances streamlined. Employee records are protected by a network of state and federal laws such as the FLSA. 0% Introductory APR on purchases for your first 9 billing cycles. Read our full review of the Capital One SavorOne Cash Rewards Credit Card. You'll also get business-specific perks like an itemized expense summary at year's end (great for tax time). 12X at hotels & resorts in the Hilton portfolio. A secured credit card is different from the reloadable Visa prepaid card options above. While we consider all aspects of a credit card when calculating the 5-star. TPGs Staff Pick:With an annual fee that is $300 less than the Amex Platinum, the Capital One Venture X card is my favorite travel credit card. After the first year, you'd have to spend at least $4,750 a year on the card before the rewards would outweigh the cost. Once an employee leaves your company, the clock on record retention starts. You can redeem your Savor or Quicksilver cash back as a check, set up automatic redemptions at a set time or at specific cash thresholds or redeem it for statement credits or gift cards. Pay on time to boost your cash back to a total of 1.25% for that month, Pick the monthly due date that works best for you, Pay for Amazon.com purchases using your Capital One rewards, Pay for online purchases with virtual card numbers and keep your actual card number to yourself, Get notified via text, email, and phone if Capital One notices potential suspicious transactions on your account. Eventually, you terminate the employee. offers a generous, attainable sign-up bonus, no annual fee and flat-rate cash-back rewards. This site does not include all credit card companies or all available credit card offers. It's OK to set longer horizons for disposing of documents. For example, most of the cards on this list also have a no-annual-fee version. The sign-up bonus is smaller, too, but still quite nice: Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening. If you run criminal background checks or credit checks, tread cautiously. This card charges a 3 percent foreign transaction fee. Our banking reporters and editors focus on the points consumers care about most the best banks, latest rates, different types of accounts, money-saving tips and more so you can feel confident as youre managing your money. Transfer ratios to a couple of partners are mediocre at less than 1:1 ratio. If you expect to put more than $19,000 a year on the card, you'd come out ahead with the. Earn 2 miles per $1 spent on United purchases, dining (including eligible delivery services), at gas stations, office supply stores, and on local transit and commuting. CardRates.com is a free online resource that offers valuable content and comparison services to users. Flexibility is one of the most valuable elements of a good points strategy, and the Venture card delivers loads of it by allowing you to decide on a case-by-case basis whether to use it as a fixed-value or transferable-points card. How can your small business benefit from this years Small Business Saturday? 2022 Bankrate, LLC. Streamlines spend management by combining corporate cards with free expense management software. A prepaid card will not help you build credit because these cards have no associated line of credit attached to them. If you'd rather have cash back, a mile is worth only half a cent when redeemed this way. 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