Updated December 2020. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, Amazon, eBay, Etsy, Airbnb? You are eligible to open a small business credit card, which keeps your personal and business expenses separate. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. I did this for years successfully before incorporating my business.
Small business credit cards are offering strong perks and $500+ value for a single card during the first year to try out a new card. Below are the top offers, and with these recent changes:
- New Ink Unlimited $750/75k, Ink Cash $750, Platinum 95k, JetBlue 100k, Southwest 100k offers.
This is a companion post to my . Notice that small business bonuses are on average even higher than those on consumer cards.
- $750 bonus cash back after $7,500 in purchases in the first 3 months. See link for details.
- Flat 1.5% cash back on all purchases with no limit.
- No annual fee.
- Subject to 5/24 rule.
- $750 bonus cash back after $7,500 in purchases in the first 3 months. See link for details.
- 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.
- No annual fee.
- Subject to 5/24 rule.
- Up to 95,000 Membership Rewards points after you spend $15,000 in your first 3 months. See link for details.
- Largest airline lounge access network. Includes Delta Sky Club membership + their own Centurion lounges.
- Additional benefits for 2020 due to COVID-19. $200 in Dell credits, $20 in statement credits per month on U.S. purchases for shipping, up to $20 in statement credits per month on wireless telephone services purchased directly from U.S. service providers.
- $200 Airline Fee Credit. Up to $200 a calendar year in baggage fees and more, at one airline that you pick.
- $100 Global Entry/TSA PreCheck credit.
- $595 annual fee.
- Up to 100,000 Rapid Rewards points. 70,000 points after you spend $5,000 on purchases in the first 3 months. Plus, earn an additional 30,000 points after you spend $25,000 on purchases in the first 6 months. (100,000 points is redeemable for $1,500+ in Wanna Getaway airfare.)
- This is enough to qualify for the in 2020 alone. Or combine with the Southwest Rapid Rewards Premier Consumer Card.
- Global Entry or TSA PreCheck® Fee Credit of up to $100, repeatable every four years.
- $199 annual fee + 9,000 bonus points after each Cardmember anniversary.
- Subject to 5/24 rule.
(Barclaycard)
- Up to 100,000 total bonus TrueBlue points. 50,000 bonus points after $1,000 in purchases and paying the $99 annual fee, both within the first 90 days. Additional 50,000 bonus points after a total of $6,000 in purchases within the first 12 months. Limited-time offer. See link for details.
- Free first checked bag for you and up to 3 companions when you use your JetBlue Plus Card.
- $99 annual fee.
- 60,000 United miles after $3,000 in purchases in the first 3 months. See link for details.
- Free first checked bag for both you and a companion (a savings of up to $140 per roundtrip).
- Expanded award availability. Having this card makes it easier to redeem for that saver award economy ticket.
- Primary rental car coverage when renting for business purposes.
- $0 annual fee for the first year, then $95.
- Subject to 5/24 rule.
- 75,000 bonus points after $7,500 in purchases (on the Account Owner’s Card only) in first the 4 months. 75,000 bonus points can be redeemed for $750 in cash back. See link for details.
- Availability may be restricted to certain states.
- $0 annual fee for the first year, then $95.
(Bank of America)
- 40,000 Alaska miles + $200 statement credit + Companion Fare Voucher after $2,000 in purchase within 90 days. Limited-time offer. See link for details.
- Companion fare voucher is “Buy one ticket, get one for $121” ($99 fare plus taxes and fees from just $22).
- Free checked bag on Alaska flights for you and up to six other passengers on the same reservation.
- $50 annual fee for company, plus $25 per card.
- 130,000 Hilton Honors points after $3,000 in purchases within the first 3 months. See link for details and rough valuation of points.
- Free Weekend Night Reward certificate after you spend $15,000 on purchases in a calendar year.
- $95 annual fee.
- $600 cash back. Earn a $200 statement credit after each $10,000 you spend in purchases, up to $600 on $30,000 of purchases, within the first 3 months. See link for details.
- 1.5% early pay discount on all purchases which stacks on top of the bonus above.
- $0 annual fee for the first year, then $250.
- 100,000 Ultimate Rewards points (worth $1,250 towards flexible travel) after $15,000 in purchases in the first 3 months. See link for details.
- 3X points on the first $150,000 spent on travel, shipping purchases, internet/cable/phone services, and advertising purchases with social media sites and search engines.
- Primary rental car coverage when renting for business purposes.
- $95 annual fee.
- Subject to 5/24 rule.
- Up to 75,000 American Airlines miles. 65,000 miles after $1,000 in purchases in the first 90 days. Additional 10,000 miles when a purchase is made on an employee card. Limited-time offer. See link for details.
- First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
- $95 annual fee.
- $500 cash bonus after $4,500 in purchases in the first 3 months. See link for details.
- Flat 2% cash back on all purchases with no limit.
- $0 annual fee for the first year, then $95.
- $500 cash back bonus after $5,000 in purchases in the first 3 months. See link for details.
- Earn 1.5% cash back on every $1 spent, OR earn 1 point on every $1 spent + 1,000 bonus points when company spend is $1,000+ in any monthly billing period.
- No annual fee.
Note: Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards on your credit report within the past 2 years. This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.
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