Credit Cards With a Head for Business

published 31 August 2009

Advanta closed the accounts of one million small-business credit-card holders when it exited the market late last spring. If you are among them or just trawling for a better deal, decide what features matter to you. If you carry a balance, a low interest rate is preferable. If you pay off your balance each month, a rewards program may be more attractive. We like these two cards:

www.americanexpress.com/smallbusiness

The Plum Card from American Express is a charge card, like Amex's green and gold cards, for businesses with uneven cash flow. Normally with a charge card, you are expected to pay the balance in full every 30 days. With the Plum Card, pay your balance in full within ten days of receiving your statement and you receive a 1.5% credit on your next monthly statement. Pay 10% of your bill by the due date and you have 60 days to pay the remainder without incurring interest or finance charges. The annual fee of $185 is waived for the first year. Open Savings cash rebates apply with this card, too.