The construction business is entirely dynamic in terms of expenses. Can you guess why? It’s simple and easy to understand. The projects will vary from one month to the other along with other factors like the season, and needs of the equipment.
This fluctuation of expenses makes it very hard to create a financial plan fast or maintain a budget and stay fixed to it. This is where usage of business credit cards by the construction businesses plays a major role to handle those fluctuations.
Fortunately, we have a lot of options available in the market for business credit cards. But, not all are the best! So, we have picked up the top 5 best business credit cards for construction businesses.
However, it’s important to note that business credit cards can be classified as the best ones depending on the requirements, spending needs, and also somewhat on the credit history. The requirements may vary from person to person.
Keeping all these minds, spend just 2-3 minutes of your busy schedule to give this guide a read. We have tried to figure out the 5 best business credit cards for construction businesses after analyzing from all the directions.
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Table of Contents
List of The Top 5 Best Business Credit Cards for Construction Business Owners
1. American Express Blue Business Plan
This business credit card is the best one for those construction businesses that are planning larger expenses. If we talk about the ideal case, then you must be paying the credit card bills every month to avoid the extra interest amount.
However, businesses run on practical scenarios and there can be cases where they may need to purchase some expensive items which they want to pay for a longer duration. That is possible through a 0% intro APR credit card. It offers much flexibility by increasing the duration of making payments to several months or even one year without any sort of additional interest.
The longest period offered by this credit card is 12 months which makes it much more suitable for making larger expenses by businesses. Besides, the rewards offered are also more and also it doesn’t need any kind of annual maintenance charge.
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2. Bento for Business
Secondly, this credit card is one of the ideal choices for construction businesses to manage employee spending. It’s a prepaid business credit card which means you have full control over the size of your credit and thereby, your staff can’t go overboard on their expenditures.
You just need to connect the Bento credit card with your business bank account and load it with as much cash as you want. Then you can distribute employee cards as much as you want but Bento will charge some additional fees for that.
Apart from that, Bento can also be integrated with the accounting software which will track your spending and set the card limits based on that. However, one thing to note here is that being a prepaid credit card, your credit score will not be affected by using it.
3. Lowe’s Business Credit Card by American Express
Thirdly, we have picked up another best credit card suitable for getting retail rewards. The construction business owners who need to mainly buy light equipment and materials can use this credit card. It’s because this card offers 1x, 2x, 3x points and also a 5% store discount.
It carries no annual fee, so maintenance of this credit card is super easy. However, the redemption capacity of this credit card is very low because you can utilize the points for earning various gift cards only.
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4. Chase Ink Business Cash
If you want to earn rewards on daily spending, then this business credit card can be a great fit for you. For everyday expenses, the credit card offers you reward points depending on the money you spent. Also, you will earn cashback with the best ones being on cell service, restaurants, and gas stations.
However, you can enjoy a 1% cashback on all sorts of purchases without any limit. There is no annual charge as well for this credit card. There will be no APR carried forward for the first year which makes it easier for you to stretch out payments without the need for any interest. Post one year, you need to pay some annual interest rate based on your creditworthiness and market Prime Rate.
5. Capital One Spark Classic for Business
If your construction business is facing a challenged credit and can’t find a business credit card, then you need to go for a secured one. It implies that you need to keep some cash which acts as a credit line. So, secured credit cards don’t require issuers to pay any money, and thus, they can easily accept borrowers with low credit scores.
However, if you still want to achieve an unsecured credit card with a challenged credit score, then this credit card can be the best option. It offers the minimal requirement of credit score in the market that is ideal for those who want to rebuild their credit score. Besides, you can also enjoy a 1% cashback on every purchase.
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Final Words !
We have listed down the top 5 best business credit cards for construction business owners. You can now decide about your requirements and apply for the one that fits you.
Hope you have liked this guide and found it quite helpful. For any concerns or queries, feel free to mention that in the comments section below!
