The Very Best Gas Cards for Small Business During the US Recession
As the COVID-19 situation worsened, we took a look at a number of gas cards for small business and did the research for you. US recession or no US recession, you’ve got to fill your tank! So, here are our preferences.
Per the SBA, business credit card limits are a whopping 10 – 100 times that of personal credit cards! This demonstrates you can get a lot more money with small business credit.
Small business credit is independent of the economy. Coronavirus or not, these credit cards are out there – but be aware that, as the situation drags on, some of the requirements could change. Always be sure to check the links directly to be sure to get 100% up to date information straight from the source.
And you will not need collateral, cash flow, or financials in order to get business credit.
The Benefits of Gas Cards for Small Business
Benefits can vary. So, make sure to select the benefit you like from this choice of options.
Build Business Credit During the US Recession with Excellent Gas Cards Via Our Business Credit Builder
Our Business Credit Builder is full of amazing business credit cards and that includes gas cards!
76
So, check out this card from 76. It reports to Dun & Bradstreet, Experian, and Equifax.
To Qualify:
- Entity in good standing with Secretary of State
- EIN number with IRS
- Business address- matching everywhere.
- D-U-N-S number
- Licenses for your business (if applicable)
- And a Company Bank account
- If you’re not approved based on business credit history or been in business a 1 year, then a $500 deposit is needed or a Personal Guarantee (PG)
To Apply: Online or over the phone
Terms: Net 22
Get it here: 76fleet.com
Marathon
Check out this great card from Marathon. It reports to Dun & Bradstreet, Experian, and Equifax.
To Qualify:
- Entity in good standing with Secretary of State
- EIN number with IRS
- Business address- matching everywhere.
- D-U-N-S number
- Licenses for your business (if applicable)
- Company Bank account
- You can give a $500 deposit instead of using a personal guarantee if in business less than a year.
To Apply: Online
Terms: Net 22
Get it here: marathonbrand.com
Wex Fleet Card
And check out the Wex Fleet Card. It reports to Dun & Bradstreet, Experian, and Equifax.
To Qualify:
- Entity in good standing with Secretary of State
- EIN number with IRS
- Business address- matching everywhere.
- D-U-N-S number
- Licenses for your business (if applicable)
- Business Bank account
- Business Phone Number Listed in 411
- If you’re not approved based on business credit history or been in business a 1 year, then a $500 deposit is needed or a Personal Guarantee (PG)
To Apply: Online or over the phone
Get it here: onlineservices.secure.force.com/creditapplication/WexBOCA?pgm=WEXFleetUniversal&cc=BCOMPARE&lc=bcompare
Terms: Net 22 but can be extended to Net 30
Terrific Cards for Cash Back (A Supplement to Gas Cards in the US Recession)
Flat-Rate Rewards
Capital One ® Spark® Cash for Business
Check out the Capital One® Spark® Cash for Business. It has an introductory $0 annual fee for the initial year. After that, this card costs $95 per year. There is no introductory APR offer. The regular APR is a variable 18.49%.
You can get a $500 one-time cash bonus after spending $4,000 in the first three months from account opening. Get unlimited 2% cash back. Redeem any time without minimums.
You will need good to superb credit to qualify.
Find it here: capitalone.com/small-business/credit-cards/spark-cash
Check out our Hybrid Credit Line funding. It’s a great complement to the best gas cards for small business during the US recession – and more!
Flat-Rate Rewards and No Yearly Cost
Discover it® Business Card
Check out the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for one year. After that the regular APR is a variable 14.49 – 22.49%.
Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimal spend requirement.
You can download transactions| easily to Quicken, QuickBooks, and Excel. Keep in mind: you will need great to superb credit to get approval for this card.
discover.com/credit-cards/business
Bonus Categories
Ink Business Cash℠ Credit Card
Have a look at the Ink Business Cash℠ Credit Card. It has no annual fee. There is a 0% introductory APR for the first 12 months. After that, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the initial three months from account opening.
You can get 5% cash back on the initial $25,000 spent in combined purchases at office supply stores and on web, cable and phone services each account anniversary year.
Get 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. There is no limit to the amount you can get.
You will need superb credit scores to qualify for this card.
Find it here: creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF
Boosted Cash Back Categories
Bank of America® Business Advantage Cash Rewards MasterCard® credit card
Have a look at the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no yearly fee. You can get a $300 statement credit offer.
Get 3% cash back in the category of your choice. So these are gasoline stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Get 2% cash back on dining. So this is for the first $50,000 in combined choice category/dining purchases each calendar year. After that get 1% after, with no limits.
You will need superb credit scores to qualify.
Find it here: promo.bankofamerica.com/smallbusinesscards2
We also found cards which give bonuses for auto rental, because you might not be driving your own car when on business.
Company Credit Cards for Travel Points (Another Addition to Gas Cards in the US Recession)
Flat-rate Travel Rewards
Capital One® Spark® Miles for Business
Have a look at the Capital One® Spark® Miles for Business. It has an introductory yearly fee of $0 for the first year, which then rises to $95. The regular APR is 18.49%, variable due to the prime rate. There is no introductory annual percentage rate. Pay no transfer fees. Late fees go up to $39.
This card is excellent for travel if your expenses don’t fall into typical bonus categories. You can get unlimited double miles on all purchases, with no limits. Get 5x miles on rental cars and hotels if you book via Capital One Travel.
Get an initial bonus of 50,000 miles. That’s the same as $500 in travel. But you only get it if you spend $4,500 in the first 3 months from account opening. There is no foreign transaction fee. You will need a good to exceptional FICO score to qualify.
Find it here: capitalone.com/small-business/credit-cards/spark-miles
Bonus Travel Categories with a Sign-Up Offer
Ink Business Preferred℠ Credit Card
For an excellent sign-up offer and bonus categories, check out the Ink Business Preferred℠ Credit Card.
Pay a yearly fee of $95. Regular APR is 17.49 – 22.49%, variable. There is no introductory APR offer.
Get 100,000 bonus points after spending $15,000 in the initial three months after account opening. This works out to $1,250 towards travel rewards if you redeem with Chase Ultimate Rewards.
Get 3 points per dollar of the first $150,000 you spend with this card. So this is for purchases on travel, shipping, internet, cable, and phone services. Plus it includes advertising purchases made with social media sites and search engines each account anniversary year.
You can get 25% more in travel redemption when you redeem for travel using Chase Ultimate Rewards. You will need a good to superb FICO score to qualify.
Find it here: creditcards.chase.com/business-credit-cards/ink/business-preferred
No Yearly Fee
Bank of America® Business Advantage Travel Rewards World MasterCard® credit card
For no yearly fee while still getting travel rewards, take a look at this card from Bank of America. It has no yearly fee and a 0% introductory APR for purchases during the initial nine billing cycles. After that, its regular APR is 13.74 – 23.74% variable.
You can get 30,000 bonus points when you make a minimum of $3,000 in net purchases. So this is within 90 days of your account opening. You can redeem these points for a $300 statement credit towards travel purchases.
Earn unlimited 1.5 points for each $1 you spend on all purchases, everywhere, every time. And this is no matter how much you spend.
Likewise earn 3 points per every dollar spent when you schedule your travel (car, hotel, airline) through the Bank of America® Travel Center. There is no limit to the number of points you can earn and points do not expire.
You will need excellent credit scores to get this one (as in, 700s or better).
Find it here: bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card
Hotel Credit Card
Marriott Bonvoy Business™ American Express® Card
Have a look at the Marriott Bonvoy Business™ Card from American Express. It has an annual fee of $125. There is no introductory APR offer. The regular APR is a variable 17.24 – 26.24%. You will need great to superb credit scores to get this card.
Points
You can earn 75,000 Marriott Bonvoy points after using your card to make purchases of $3,000 in the initial three months. Get 6x the points for qualified purchases at participating Marriott Bonvoy hotels. You can get 4x the points at US restaurants and filling stations. And you can get 4x the points on wireless telephone services bought directly from American service providers and on American purchases for shipping.
Get double points on all other eligible purchases.
Rewards
Also, you get a free night every year after your card anniversary. And you can get one more free night after you spend $60,000 on your card in a calendar year.
You get complimentary Marriott Bonvoy Silver Elite status with your Card. Plus, spend $35,000 on eligible purchases in a calendar year and earn an upgrade to Marriott Bonvoy Gold Elite status through the end of the following calendar year.
Plus, each calendar year you can get credit for 15 nights towards the next level of Marriott Bonvoy Elite status.
Find it here: creditcard.americanexpress.com/d/bonvoy-business
Check out our Hybrid Credit Line funding. It’s a great complement to the best gas cards for small business during the US recession – and more!
Dependable Credit Cards for Fair to Poor Credit, Not Calling for a Personal Guarantee (get Rideshare Points – to Supplement Your Gas Cards)
Brex Card for Startups
Look into the Brex Card for Startups. It has no yearly fee.
You will not need to supply your Social Security number to apply. And you will not need to provide a personal guarantee. They will take your EIN.
However, they do not accept every industry.
Likewise, there are some industries they will not work with, and others where they want added paperwork. For a list, go here: brex.com/legal/prohibited_activities.
To determine creditworthiness, Brex checks a corporation’s cash balance, spending patterns, and investors.
So you can get 7x points on rideshare. Get 4x on Brex Travel. Also, get triple points on restaurants. And get double points on recurring software payments. Get 1x points on everything else.
You can have poor credit (even a 300 FICO) to qualify.
Find it here: brex.com/lp/startups-higher-limits
Check out our Hybrid Credit Line funding. It’s a great complement to the best gas cards for small business during the US recession – and more!
The Best Gas Cards for Small Business for You During the US Recession and Beyond
So your outright best gas cards for small business will always hinge on your credit history and scores.
Only you can pick which features you want and need. So make sure to do your homework. What is outstanding for you could be catastrophic for another person.
And, as always, make certain to establish business credit in the recommended order for the best, quickest benefits. The US recession won’t last forever. And with these credit cards and a good payment history, you can emerge from the US recession even better off than you were before.
The post Get Gas Cards for Small Business During the US Recession appeared first on Credit Suite.
