Month: August 2021

Five Best Credit Cards for Your Small Business

Using a business credit card can help small business owners easily track and record their monthly business expenses. Business credit cards also offer convenience to business owners and their employees by providing a cash-free means of paying for everyday expenses including making online purchases. However, having so many credit card options available to small businesses, how can you know which ones make the most sense to use? And which provide the most benefits without racking up lots of fees? To help you narrow down the choices, we’ve selected the five best small business credit cards that are worthy of your consideration.

Chase Ink Business Preferred VISA

Especially if travel is an essential part of carrying out your business, then the Chase Ink Business Preferred VISA just may be the credit card for you. This card offers 80,000 bonus points after making purchases totaling $5,000 or more in the first three months. Points are worth 25 percent more when redeemed for travel through Chase’s Ultimate Rewards program. The annual membership fee is $95.

CapitalOne Spark Cash for Business

For businesses that have a high volume of monthly expenditures, the CapitalOne Spark Cash for Business card’s unlimited 2 percent cash back rewards may pay big dividends. For new cardmembers, you’ll earn a one-time cash bonus of $500 when you make $4,500 in purchases in the first three months. The $95 annual membership fee is also waived in the first year.

American Express SimplyCash Plus Business

If keeping your monthly credit card balance low is a priority, consider the American Express SimplyCash Plus Business card for your small business. This card’s cash back rewards can be applied to your card balance in the form of a statement credit. Additional benefits include a 0 percent introductory APR for your first 9 months and a $0 annual membership fee.

Bank of America Business Advantage Travel Rewards World Mastercard

Another favorite credit card among small business owners who travel is the Bank of America Business Advantage Travel Rewards World Mastercard. Cardholders earn unlimited 1.5 points for every dollar spent and 3 points per $1 spent on travel arrangements booked through BoA’s Travel Center. Other incentives include 0 percent introductory APR for the first 9 billing cycles, no annual membership fee and no fees on international transactions.

Costco Anywhere Visa Business Card by Citi

Business owners who purchase their supplies in bulk or buy inventory items for resale from Costco may prefer the Costco Anywhere Visa Business Card by Citi. Cardholders earn cash back rewards of 1 to 4 percent (based on purchase types) that can be redeemed for merchandise — or as cash back — at any U.S. Costco warehouse. There are no foreign transaction fees on purchases and no annual membership fee with a paid Costco membership.

Contact Cincinnati’s most trusted small business accountant, Donohoo Accounting Services, by calling 513-528-3982 or email us today. For more than 20 years, we have helped small business owners like you wisely manage their business finances. And don’t forget to check us out on Facebook, Twitter or LinkedIn for our latest updates!

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Five Best Personal Credit Cards

The personal credit cards of today are not your father’s credit cards. By far, 21st-century personal credit cards tend to offer a variety of benefits to consumers that provide convenience and discounts not offered by paying cash or even with the use of a debit card. And while personal credit card offers abound – online and in your mailbox – five of the best personal credit cards are outlined for you here.

Capital One Quicksilver Cash Rewards Credit Card

While this credit card’s TV commercials and marketing tagline are popular, some features that make it popular among consumers include unlimited 1.5 percent cash back on every purchase made, no annual fee, and a one-time $150 cash bonus when you accrue $500 in purchases during your first three months as a cardholder. Additionally, the 0 percent introductory APR for 15 months applies to both your account balance and balance transfers.

Wells Fargo Propel American Express Card

If you’re a person about town, you can rack up triple points (to earn discounts or “miles”) when you eat out, use rideshares and transit, buy gas and use eligible streaming services. All other purchases earn 1 point per dollar. Additional advantages include 30,000 bonus points upon making $3,000 in purchases within three months, 0 percent introductory APR for 12 months, cell phone protection and no annual fee.

Chase Sapphire Preferred Card

To satisfy the traveler in you, the Chase Sapphire Preferred Card gives you double points/miles on travel purchases such as airfare, hotels, dining and transportation; all other purchases earn one point per dollar. When you make $4,000 in purchases within the first three months, you’ll earn 60,000 bonus points. No fees on foreign transactions. The annual membership fee is $95.

Discover it Cash Back

For those who prefer getting cash back on their purchases, the Discover it Cash Back credit card offers up to 5 percent cash back on purchases made at grocery stores, gas stations, restaurants and Amazon.com. You’ll also tally 1 percent cash back on all other purchases. As an added bonus, Discover will match all the cash back you earn at the end of your first year as a cardholder – with no limit. That’s free money! You can also transfer balances at the introductory APR of 0 percent for 14 months. This card has no annual fee.

Citi Double Cash Card

The Citi Double Cash Card offers a unique way of rewarding you not only for using the card for purchases but also for making your monthly payments. You can earn 2 percent cash back on all purchases: that’s 1 percent when you buy and another 1 percent when you pay. There are no expense categories to track, no caps on cash back and no annual fee. The introductory balance transfer APR of 0 percent is good for 18 months.

For more than 20 years, Cincinnati’s most trusted accountants, Donohoo Accounting Services, has helped individuals like you wisely manage their personal finances. Contact us by calling 513-528-3982 or email us today. And don’t forget to check us out on Facebook, Twitter or LinkedIn for our latest updates!

contact Donohoo Accounting