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As a contractor, you know the importance of sourcing your materials at a fair price. Doing so means you can offer a more competitive rate to your customers. The best business credit cards for contractors will boost your profits plus help you have the tools to perform high-quality work.
Best Credit Cards for Contractors
Most of the big banks offer credit cards for contractors. Since you may not have time to compare all the options, these are the most rewarding cards for most business owners.
- The American Express Blue Business Cash™ Card
- The Blue Business® Plus Credit Card from American Express
- Capital One Spark Cash for Business
- Capital One Spark Miles for Business
- Ink Business Cash® Credit Card
- The Plum Card® from American Express
- Ink Business Preferred® Credit Card
- American Express® Business Gold Card
The American Express Blue Business Cash Card
Cardholders earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
It also comes with Expanded Buying Power which gives cardholders the ability to spend beyond their credit limit. Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
New The American Express Blue Business Cash™ Card cardholders can earn a $250 statement credit after they make $3,000 in purchases on their Card in their first 3 months.
This card might be the most flexible of the credit cards for contractors because of its flexibility and no annual fee.
The Blue Business Plus Credit Card from American Express
If you prefer redeeming rewards points for travel, The Blue Business® Plus Credit Card from American Express has a similar purchase rewards structure. Except, with this card you earn Membership Rewards® points which are most valuable when redeemed for award flights or transferred at a 1:1 ratio to airline partners like Delta, British Airways, and Singapore Airlines.
Cardholders earn 2x Membership Rewards® points on everyday business purchases such as office supplies or client dinners, up to the first $50,000 in purchases per year. After that, cardholders earn 1 point per dollar thereafter.
Cardholders can also enjoy more flexibility to use their card for more purchases and rewards when buying above their credit limit. The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors.
New The Blue Business® Plus Credit Card from American Express cardholders can earn 15,000 Membership Rewards® points after they spend $3,000 in eligible purchases on the Card within their first 3 months of Card Membership.
There is no annual fee (See Rates & Fees).
Capital One Spark Business Cards
The information for the Capital One Spark Cash for Business has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
If you want to earn 2% back on every purchase, get the Capital One Spark Cash for Business. This can be a better option than the Amex Blue Business Cash when you spend at least $50,000 annually. You can redeem your rewards in any amount for cash statement credits.
To redeem your points for award travel, the Capital One Spark Miles for Business earns unlimited 2x miles per $1 spent on all purchases. Cardholders can earn 5x miles per $1 spent on hotels and car rentals if they book through Capital One Travel. Your miles are redeemable for travel statement credits, booking upcoming travel, and transferring to airline loyalty programs. You also get a Global Entry or TSA PreCheck application fee credit, up to $100.
The annual fee for either Capital One cards is $0 for the first year and then $95.
Ink Business Cash Credit Card
The Chase Ink Business Cash® Credit Card is one of the best small business credit cards with tiered rewards. It has no annual fee. You get 5% back on the first $25,000 spent at office supply stores, internet, cable and phone services each account anniversary year. Gas stations and restaurant spending earns 2% back on the first $25,000 in combined spending. All non-bonus spending earns 1% back.
Additionally, cardholders may redeem rewards for cash back, gift cards, travel, and more through the Chase Ultimate Rewards portal. Fraud protection is also included with the card as well as zero fraud liability. Cardholders won’t be held responsible for unauthorized charges made with their card or with their account information.
New Ink Business Cash® Credit Card cardholders can earn a $900 bonus cash back after spending $6,000 on purchases in the first 3 months from account opening.
The Plum Card from American Express
Not many credit cards for contractors offer flexible repayment terms. You know how much of a struggle it can be to earn a variable income and pay the bills during slow months.
The Plum Card® from American Express offers up to 60 days to pay with no interest when you pay your minimum due by the Payment Due Date.
Plus, paying early pays off. Get an unlimited 1.5% Early Pay Discount on eligible charges within 10 days of your statement closing date and see the discount applied to your next statement when you pay at the least the Minimum Payment Due by the Please Pay By date.
The annual fee is $250 and there are $0 foreign transaction fees‡ (See Rates & Fees). If the Plum Card can save you at least $250 in annual interest charges, it’s worth owning this card.
Ink Business Preferred Credit Card
Perhaps you’re a traveling contractor fixing the damage from recent storms. The Ink Business Preferred® Credit Card offers awards 3 Ultimate Rewards points on the first $150,000 in combined spending for these purchases each account anniversary year:
- Shipping purchases
- Internet, cable and phone services
- Social media and search engine advertising
Travel purchases like airfare, hotels, and rental cars earn bonus points. But gas station purchases don’t. Buying gas with the Chase Ink Business Cash® Credit Card earns up to 2% cash back per $1 spent. You can pool your points to be worth 1.25 cents each when booking award travel on the Ink Business Preferred account. Each point is only worth 1 cent each for cash and gift card rewards.
This card has a $95 annual fee. The signup bonus is 100,000 Ultimate Rewards points (worth up to $1,250 in award travel) after spending $15,000 in the first 3 months. It’s also one of the best credit cards for real estate agents.
American Express Business Gold Card
The American Express® Business Gold Card earns up to 4x Membership Rewards points on the two categories where your business spent the most each billing cycle. This applies to the first $150,000 in combined purchases annually (then you’ll earn 1x point for all other purchases). Only the top two categories in each billing cycle will count towards the $150,000 cap. Categories include:
- U.S. purchases at electronic goods retailers and software & cloud system providers
- Monthly wireless telephone service charges that are made directly from a wireless telephone service provider in the U.S.
- Transit purchases including trains, taxicabs, rideshares, ferries, tolls, parking, buses, and subways
- Purchases at U.S. media providers for advertising in select media (online, TV, and radio)
- U.S. purchases at gas stations
- U.S. purchases at restaurants, including takeout and delivery
Additionally, American Express Travel purchases through amextravel.com will now earn 3x points per $1.
All annual spending above $150,000 for the bonus categories and all non-bonus spending earns an unlimited 1x point per $1.
American Express Business Gold cardholders also have access to a Pay Over Time Option that lets cardholders decide whether they want to pay for their eligible purchases in full each month or pay over time with interest (terms apply).
The American Express Business Gold can be worth it if you can maximize the 4x bonus categories.
New American Express® Business Gold Card cardholders can earn 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
The annual fee is $295 ($375 if the application is received on or after 2/1/24; See Rates & Fees).
Summary of Credit Cards for Contractors
The best business credit cards for contractors can depend on your average purchase size and if you travel to distant locations. You may need flexible repayment terms if your variable income can’t always repay large purchases in a single billing period. But you may appreciate earning bonus points on travel, gas stations, and advertising if you also spend a lot of time trying to reach new clients.
For rates and fees of The American Express Blue Business Cash™ Card, please click here.
For rates and fees of the Plum Card® from American Express, please click here.
And For rates and fees of the American Express® Business Gold Card, please click here.
For rates and fees of The Blue Business® Plus Credit Card from American Express, please click here.