I read an article in a magazine recently that I found quite interesting. The article reviewed what they considered the best credit cards available in the industry broken down by category type and the specific needs of different card holders. You can use this review to find the right card for your situation, choosing the among the best credit cards available currently.
If you pay the balance on your Plum Card is paid in full within 10 days of your billing period, on the other hand, you enjoy a 2% discount on your purchases if you spend over $5,000 per month. You’ll also be able to enjoy the Amex Open program, which gives you discounts at a number of vendors such as AT&T, FedEx, and Hertz. On the down side, there’s an expensive annual fee of $185 for the card and there’s currently only 10,000 of these cards made available for enrollment.
If you need to carry a balance, the article recommends the Advanta Platinum BusinessCard with Unlimited Rewards. This card has an APR of 7.99% and offers a 0% APR on balance transfers for the first 15 months of card ownership. Additionally, you earn rewards and even cash back on all of your purchases.
If you spend a lot of time traveling, you might want to consider the Starwood Preferred Guest Business Credit Card from American Express. With this card, you earn points when you stay at any of the over 800 Starwood hotels currently available. In addition, these points can be used alternatively as airline miles points if you prefer. The APR is a bit high on this card, however so if you’ll be carrying a balance, the rewards won’t be worth the cost of finance charges. In addition, if you aren’t going to take advantage of the travel rewards, you might be better off just using a cash back card.
If you are a business owner that works with vendors that doesn’t accept credit cards for payment, you might be best served with the Discover Business Card. With this card, you receive an unlimited number of what they refer to as “purchase checks.” These checks are not considered “cash advances” but can be used for those vendors that won’t accept cards for payment. The same standard APR applies in this case. In addition, you earn cash back with this card, though the interest rate is a bit higher than some other rewards credit cards currently on the market.
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