The Best Business Credit Cards For New LLC In 2024

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The Best Business Credit Cards For New LLC In 2024

What are business credit cards for new LLC? A business credit card is a very useful tool for an LLC. With the help of such a tool, an LLC will be able to build business credit. Also, this helps such businesses separate their business finances from their personal finances. Hence, there is no personal guarantee.

To get a business card, your LLC does not need business revenue or business experience. However, as an applicant, you will need to show your personal credit history.

In this article, you will learn about some of the best business credit cards for new LLCs. However, before that, we will also discuss what these cards are in general and how they operate for businesses. Finally, we will share with you a list of our best picks for the best business credit cards, which can be a great option for an LLC.

Business Credit Cards For New LLCs – What Does It Mean?

Business Credit Cards For New LLCs – What Does It Mean?

According to the Forbes Advisor,

Business credit cards for LLCs have the potential to simplify your expense tracking while separating your business purchases from your personal charges. They can also give you larger credit lines to cover all of your operating costs and may even provide extra perks like rewards and consumer protections. No two businesses are the same, and not every business credit card is created equal.

Hence, it is important for you to look after the needs and demands of your business if you want to choose a business credit card to avail of credit. However, you will also need a budget for your business to handle debts and credit.

Additionally, one of the best things about business credit cards for LLCs is that you will be able to earn rewards if you save on travel. Hence, this is a great option if you want to accumulate cashback to reinvest in your business.

What Are The Best Business Credit Cards For New LLC?

NerdWallet states –

A business credit card is a great tool for LLCs to build business credit and separate business and personal finances. Your LLC doesn’t need business revenue or years in operation to get a business card — approval is based on the personal credit history of the applicant. […] The right business credit card for your LLC will help you finance necessary purchases and offer maximal rewards on your spending.”

However, before you learn about the best business credit cards for your company, you will need to learn its advantages and disadvantages.

Business Credit Cards For New LLC – Major Pros And Cons

The following are the major pros and cons of having a business credit card in an LLC:

Pros

Here are the pros of a business credit card that an LLC will benefit from:

  • A business credit card will help your LLC to build its credit history.
  • These cards will provide you with some great ways to separate your business expenses from your personal expenses.
  • Some business credit cards will also provide you with better flexibility and unique payment terms.
  • Certain business credit cards offer you extra points to redeem later and cashback.
  • Business credit cards have higher credit limits as compared to personal credit cards.

Cons

Here are a few cons of business credit cards of which an LLC must be aware:

  • Some business credit cards come with annual fees. Hence, there shall be an added business expense.
  • You will need to have a good credit score as an applicant.
  • If you do not use your business credit cards responsibly, your business can accumulate unnecessary debts.

Our Best Picks:

USAToday.com recommends –

When choosing a small business credit card, you’ll want to decide which features are most important to you, such as rewards, introductory financing or cardholder benefits. You’ll also want to weigh the cost of the annual fee, interest rates, and other fees. There’s also an advantage to applying for a card issued by a bank or card issuer that you already have a relationship with.

The following are the major business credit cards for new LLCs:

1. Ink Business Preferred® Credit Card

Ink Business Preferred® Credit Card
Required Credit Score690-850 (Good – Excellent)
Annual Fee$95
Rewards Rate1x to 3x points
APR29.99% (variable)

It comes with one of the biggest sign-up bonuses. Furthermore, you will also receive bonus rewards on your travel expenses, internet, phone, cable, and shipping.

2. Ramp Card

Ramp Card
Required Credit Score300-850 (Poor – Excellent)
Annual Fee$0
Rewards RateCashback of 1.5%
APR0%

The best thing about this card is that it does not require a credit check. Apart from that, you will also need to worry about a personal guarantee. All you need is good revenue and a strong bank balance.

3. American Express Business Platinum Card®

American Express Business Platinum Card®
Required Credit Score690-850 (Good – Excellent)
Annual Fee$695
Rewards Rate1x to 5x points
APR19.49% – 27.49%

Although it comes with a big annual fee, it is a great option for business travelers. Hence, this card is for those who love luxury living. Also, there are high rewards on certain purchases and offers a great welcome offer for newcomers.

4. Capital One Spark Miles For Business

Capital One Spark Miles for Business
Required Credit Score690-850 (Good – Excellent)
Annual Fee$0 intro for the first year$95 for next year onwards
Rewards Rate2x to 5x points
APR26.24%

On spending per dollar on a hotel, you will receive 5 miles/points. Moreover, you can redeem each mile at a value of 1 cent.

5. Ink Business Unlimited® Credit Card

Ink Business Unlimited® Credit Card
Required Credit Score690-850 (Good – Excellent)
Annual Fee$0
Rewards RateCashback of 1.5%
APR0% introductory APR for 12 months on purchases

You will get a simple cashback rate on all your purchases. Furthermore, there is no limit on your earnings. It also has a good sign-up bonus, especially when there are no annual fees.

Final Thoughts

Hope you have chosen yours from among the best business credit cards for a new LLC. However, once you choose the right option, you check all details related to the card on the official websites of each of these card providers. Do you have further suggestions? Please share your thoughts and ideas with us in the comments section below.

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