Best Business Credit Cards for eCommerce and High-Ticket Dropshipping
Hey guys! Trevor here with eCommerce Paradise.
Today, I will discuss the best business cashback, and miles rewards cards you can use for your eCommerce business.
I'll talk about six or seven different banks and all the different cards that they offer and what you rewards and bonuses you can get.
Now, this is really important. With eCommerce, high-ticket drop shipping specifically, a lot of times, you'll be using credit cards to place your order with suppliers so that you can easily manage your cash flow better. When you get a customer's payment, it doesn't directly get deposited to your checking account. The merchant processor takes a few days to deposit it. You have to purchase the product right away and get it shipped to your customer as soon as possible, so your customer gets it and doesn't file a chargeback. To do that, use credit cards.
The best way to boost your profit margin is to use credit cards that are cashback rewards cards and business credit cards. For drop ship, having business-related cards can help you maintain a positive credit score, as opposed to using personal cards. If you keep a high limit on a personal card for too long, your credit score can actually go down a bit because the banks don't see that as a business line. They see it as a personal credit line. When you're using business lines of credit, it doesn't happen as often.
Using business-related cards are useful when you are scaling your eCommerce store. You can use your cashback or miles rewards business cards with your suppliers and finance your purchases and keep scaling.
Now, it's time for me to talk about the different banks that offer these really good rewards cards.
As a disclaimer, these cards are usually only available for people in the United States of America. If you're outside the USA, take a look at your country and see if they have available options or offers for you. You have to look that up and do your research. This for American people who hold a Social Security number and an American passport. Another thing is that these business credit cards are only going to be approved if you have a good credit limit. You got to have a good credit limit first. Usually, over seven hundred is the minimum to get approved for any of these cards. And if you don't have a good credit limit, you need to improve your credit score. You can get your free credit score at any place like CreditKarma or freecreditscore.com. I use mint.com, which is great for getting a free credit score. These websites will give you the reasons why you have a bad credit score.
What you need to do is contact credit reporting agencies to dispute the negative credit report. You can also pay your balance and ask the credit reporting agencies to remove it in exchange for paying it off.
Usually, even if you don't have any credit, you can get a credit card. Still, you have to establish it first by using some covered credit card where you give the bank $500 cash for them to give you a credit card worth five hundred dollars. You can only spend that much money at any certain time. So you can build up credit after that. Other ways you can build credit is getting a cellphone, internet plans, or other monthly billable plans.
Once you hit a level where you have some good credit and have a little eCommerce business that starts to grow, you'll need to be able to finance it. Credit cards are the best way to do that.
Cashback rewards can range anywhere from one to two percent, or even higher, depending on what categories you are spending. Sometimes, advertising alone can be all the way up to five extra reward points. Usually, it's one point five to maybe up to 2% for cashback rewards specifically. And a lot of these business cards can also give you a high credit limit as well, depending on your credit score and your credit history. I advise you to get your credit score checked first and know where you are so that before you apply.
I'll discuss a little about how to apply and go through the application process. I'll also give you some tips. Then, we're going to take a look at different cards.
Let's start with American Express. I find some of the best rewards from American Express.
American Express is actually one of the best cards out there. It can get $300 cashback in the beginning. It's basically a cashback reward credit card.
The first one we have at the top is actually one of the best. It can basically get 300 hours cashback initially, but it's basically a cashback rewards credit card. Just go to americanexpress.com, and go under business cards.
The Blue Business Plus Credit Card got a fairly small credit line, but they do allow you to spend over the credit line. It's a charge card as long as you pay the full amount every month. The idea here is you earn two times membership rewards points on everyday business purchases up to $50,000 with no category restrictions. You can get a lot with two times membership awards and 1X on purchases after that. It also has no annual fees.
One thing to keep in mind when you're looking at cards is whether they come with an annual fee or not. Some cards come with a pretty high annual fee. Just make sure that you're actually going to use the rewards that they're going to give you.
I like to get and keep these really good long term business rewards cards. I have no annual fees, and I got cashback. I usually like cashback more than reward points just because it's a little bit more straightforward. It is a proof of my profit margin improvement.
Another one for the American Express is the Blue Business Cash Card. This card has 2% cashback on all eligible purchases. You can get 2% cashback on up to $50,000 per calendar year, which is really not that much like you do a lot. But then again, hopefully, you have more than just one card. Have a backup card or something like that.
American Express Gold Card is great. It comes with a little bit more of the benefits, I believe. But the thing you also want to look at is the bonuses. Some cards will provide you with bonus upfront. This one provides you with thirty-five thousand membership points when you sign up, and you have to spend $5,000 on the eligible card within the first three months. There are bonus points and an eligibility requirement. If you don't already have an eCommerce business, it will be difficult to meet that eligibility spends, obviously. This card is great for the people that already have eCommerce businesses. If you think that you'll be able to utilize the forex points on one hundred fifty thousand ad spending, it can be worth it.
Now, a lot of these rewards spends are going to be really good when it comes to travel. If you think you're going to do a lot of business traveling, or you just want to travel regularly for leisure purposes, then one of these cards can help with that, too. They usually come with other bonuses, an airline, or a VIP airport suite experience. You can look deeper into these and get an idea of what they include.
I had this card, I got it actually a while ago just to get the memberships, and I dropped it before the annual fee was due. I don't see myself using it in the long run. And now I have this card, the Blue Busines Cash Card because of the zero dollar annual fee and 2% cashback. It's a really good one.
Now, let's go to the Business Platinum Card. It's a $595 annual fee, but you get five extra worth points on flights, prepaid books. It's not that great. The cool thing I liked about this card is that seventy-five thousand membership reward points. Fifteen thousand is not a big deal for me. I do a high-ticket dropshipping, and it's a lot easier to meet these minimums. You just put a couple of orders on your new card, and then you get that 75,000 points, which can equal to a good roundtrip flight somewhere. But this card has a high annual fee. That's the thing. So if you're not going to take advantage of the actual five X rewards that they offer and make it worth your while, then that annual fee is not going to be really worth it. Many business travelers might find this card useful, but people who don't necessarily have to travel for business probably don't really find that useful. And I don't, so I got it for the membership bonus and dropped it because I don't want to pay that six hundred annual fee just for that small amount of rewards.
So there are these other ones called the Plum Card. It's not too bad. It has an annual fee of then 250, and you get an unlimited 1.5% cashback. That's a pretty good card, especially since it's one point five unlimited, as opposed to this one that goes starts at two, then goes down to one. But it comes with a two hundred fifty annual fee, so if it's really worth it, I would rather go for the Blue Business Cash Card.
Now, one card that I did sign up for recently is the Amazon Business Prime Card. It has zero dollar annual fee and 5% cashback on U.S. purchases at Amazon Business on amazon.com. If part of your business is on Amazon, like ours, then you can definitely use this card. If you do price arbitrage dropshipping where you buy from Amazon and sell on eBay, this card will really help you. I don't believe there's any foreign transaction fee, but you also get $125 Amazon gift card as soon as you sign up and get a private business account going. It has lots of good benefits. It's definitely a card to apply for.
The last one is Lowe's Business Rewards Cards. I don't know if any of you are interested in that, but maybe if you are buying things on Lowe's and drop shipping on eBay, that kind of thing would definitely be useful for you.
There are also some travel cards. I personally have the Hilton Honors Personal Card and also the Hilton Honors Personal Card. The cool thing about this is that it comes with one hundred twenty-five thousand Hilton Honors bonus points. If you go to a foreign country like Southeast Asia, you can go to a Hilton in Kuala Lumpur with five thousand points a night. And there's also one in Bali near the airport which is only 5,000 points a night. So you can really use those to have a nice Hilton hotel, stay at the airport, whatever that's pretty decent for like a long time. These aren't like the top-notch Hiltons, but they're still Hilton.
These Delta Sky Miles are great as well. If you're flying domestically in the U.S. or even internationally and think you will do that a lot, these cards will get you those kinds of rewards that will pay off fairly well.
Now, a lot of what people do is they do some credit card churning. Bonus turning. What they do is sign up for a card. Pay the minimum, like $3000 to get one hundred 25,000 points. And then before the annual fees, they cancel the card. So that's one thing that a lot of people do. But you have to keep in mind that it doesn't really look that good on your credit report when you cancel cards. And then, of course, over time, it will be difficult to work with the same credit card company to get credit cards again. So if you have a really good eCommerce business, it's really good just to keep these cards, even though you have a hundred fee. If you just use it enough to cover the $100 fee, you'll get some great rewards. And before you sign up for any credit card, always keep in mind the annual fee and bonuses.
Here is another one, the Marriot Bonvoy Business Card, it has the same things as the other cards like the annual fee, signing bonus, and some rewards. It really just depends on what kind of travel you think you can do and where you like to stay.
Personally, I have personal Hilton Cards and the Blue Business Cashback Card. But again, it takes a fairly high credit score to apply for these and get these. Check your credit score first.
Those are the Amex cards.
The next is Capital One. My buddy told me that you need to be careful with this one because you will get a ding on two different credit reporting agencies, a hard credit report when you apply to make sure they get a proof of your credit score before you can apply. The other thing is that they don't accept any virtual mailbox or virtual office address. You need to provide a home residence.
Here are the options. They have Spark 2% Cash. I actually have this one. It has unlimited 2% cashback and no minimums or expiration date. The annual fee is$95 after the first year. It's well worth it.
The other option is these Spark 2X Miles. It's kind of the same thing as Miles. The cool thing with these is that there are no foreign transaction fees, so use them abroad if you want.
The other option here is Spark 1.5% Cash Select. It has a zero annual fee. And then there's Spark 1% Classic. This is best for people that have fair credit, and your business is still small. No annual fee, and no bonuses associated with this one.
I personally have the Spark 2% Cash. I highly recommend Capital One. It's great.
The next one is Chase. Chase is really great. I use them as well. The best for Chase is the Ink Business Preferred credit card. This one's pretty cool. It has a new member card offer of one hundred thousand bonus points if you spend fifteen thousand on your first three months. So that's pretty good. And you can use that to travel. It's kind of like a thousand bucks for travel or maybe around fifteen hundred. Chase won't get you as good rewards as transferring them to a rewards program, which you can do. So keep that in mind. Three X points on this one. Travel redemption gets you 25% more. If you use this card to spend advertising, you will get three X points, which is really cool. And that's one of the reasons I was interested in it.
I want to have this one here. The Ink Business Unlimited card. It can give you a 5% cashback on advertising. It's unlimited, 1.5% cashback. It has a $500 bonus cashback rewards after you spend three thousand. That's why I like this business preferred card is they have that. The Ink Business Preferred is really cool because they have that advertising purchases. So if you get this one, it's three X points on advertising. Google ads, Facebook ads, things like that. You get three extra points plus the hundred thousand bonus points. I recommend doing that. I think I might even try to apply for that one.
Chase also has the Southwest Rapid Rewards and United Business Card. This United Business card is worth a lot, and you can get 60,000 bonus miles per sign up, which is great. I would recommend checking out these cards.
The next one is the Bank of America. I just got approved for this one. The Business Advantage card. There's also a travel rewards credit card. But when it comes to what you want to do, if you think you're going to be traveling a lot, maybe the travel rewards make sense. If you don't think you're going to travel a lot and just want to boost your profit line, the cash rewards make sense.
We are on a pandemic right now. I can't really see myself traveling a whole lot. So it doesn't really make sense for me to build up travel rewards on any certain programs. But, you know, some of these travel cards are really great, and the bonus offers are awesome as well.
The Business Advantage Cash Rewards credit card thas three percent and two percent cashback in the first $50,000 purchase. It's good to know which cards offer because then you can put those particular expenses on those cards and earn more cashback.
The bulk of your cashback is going to come from your suppliers, though. If you can figure out if those supplier purchases are going to show up and actually match to one of these high cashback categories. Alaska Airlines is also available if you use to travel a lot.
That's Bank of America for you.
We got a couple more cards. One is Discover. This one's pretty cool. It has unlimited 1.5% cashback, which is really simple, and Discover will automatically match all the cash back you've earned at the end of your first year. There is no minimum spending or maximum rewards, just a dollar-for-dollar match. You could turn $350 cashback into $700 with Cashback Match. It's a good card to go with.
Now we have U.S. Bank. U.S. Bank has some pretty interesting offers. They have Business Leverage Visa card. You can earn 75,000 points worth $750 cashback. Earn 2X bonus points in your top of two categories where you spend most, automatically. And zero annual fee for the first year and $95 thereafter.
They also have World Elite Mastercard with $500 cashback after you spend $4,500. Earn up to 3% cashback on certain categories, with no annual fee. And then they got this the Platinum card. It doesn't really have any bonus offer.
Next is Citibank.
Citibank has CitiBusiness/American Airlines Platinum Select MasterCard. If you use American Airlines, it's going to be really useful if you want to travel. It has 65,000 bonus points after spending $4000 in purchases, with no annual fee for the first year. So I had that one at the bonus points I spend. I canceled the card. Now that I think about it, I should've just kept it because it's kind of cool to have a card that will rack up Miles.
That's the only problem with business cards. If it's a business card and you signed up, even though you don't really have a business, it doesn't really help you. So what you need to do is get personal cards that come with bonuses first and then sign up for business cards.
Business cards will really help you finance your business. If you can get like an Amex card or two, that gets you like five or ten or fifteen thousand limit and a spark, one that's gone to 15,000. That way, you'll be able to finance all your purchases and get a lot of cashback and never have any issues with paying suppliers. That's what I like about these business cards.
I really hope you enjoyed The Best Business Card to Get for eCommerce.
Get yourself some business cards and some business credit so you can finance those high-ticket purchases. Maybe even bring on some suppliers where you have to do upfront inventory investing, so you can grow your business like crazy and compete better.
If you have any questions about these credit cards, feel free to comment below and discuss the blog section and, of course, subscribe.
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I appreciate all of you. Thank you so much. And I look forward to helping you become successful with eCommerce and high-ticket dropshipping.
eCommerce Paradise was created by Trevor Fenner of Seattle, Washington in 2015 to help you, the entrepreneur, to start and scale your own eCommerce business selling high-ticket products online with the drop shipping fulfillment method so you can make more profit per sale, have a sustainable and evergreen online business, get started with very little upfront investment, and live a location independent lifestyle. Trevor owns multiple 7-figure High-Ticket Drop Shipping eCommerce stores and is a digital nomad, traveling the world while working remotely with the help of his team of over 10 virtual assistants from around the world. Trevor is currently located in Bali, Indonesia. Trevor is also a passionate skateboarder, surfer, scuba diver, photographer, environmentalist, outdoorsman, fitness and tattoo enthusiast.
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