When you spend heavily in any specific category, it’s a good idea for businesses to review business credit cards to find the right combination of features and rewards. For business cash back cards, American Express Gold, Chase Ink Business Preferred, and dash.fi are top options. Here’s a closer look at how each card works and which could be best card for cash back rewards for your business.
Cash Back for Businesses and Business Owners
Credit card cash back is a popular rewards perk for businesses and consumers. After all, who wouldn’t want to get a percentage back for every swipe, tap, or online purchase made with the card? For businesses, cash back rewards can be sizeable, so it’s essential to carefully choose your rewards credit card.
When picking a cash back card, consider these important factors:
Standard Rewards Rate: Many cards offer a base rewards rate for every purchase. This is the rate you earn for any purchase outside of bonus categories and after hitting maximum limits for bonus categories where they apply.
Bonus Rewards Rate: If you spend heavily on a specific need, like travel, fuel, restaurants, office supplies, or online advertising, there’s likely a card with special bonus rewards for your top categories.
Rewards Limits: Some cards offer a bonus up to a specific limit. If you hit the bonus limit with a month or two of the year starting, you could be missing out on a truckload of rewards.
Credit Limits and Payment Terms: If you spend heavily in a category, you could find you hit credit limits quickly. It’s important to choose a card that works with your business’s cash flow needs and doesn’t cut off your account at critical moments.
Best Cash Back Cards for Business
There are many good cards to help a business manage spending and earn rewards, but only one best card for your unique spending and cash flow needs. Three cards often considered are the Business Gold Card from American Express, Chase Ink Business Preferred, and the dash.fi card.
While Amex and Chase are known as some of the industry's most prominent business credit card providers, their rewards programs are made in a generic way that works for a wide range of businesses. The lack of specialization and accounts that can limit spending or rewards make them less than perfect for certain companies, notably large-scale online advertisers.
The dash.fi credit card offers unlimited cash back rewards with an unlimited cash back bonus for online advertising. If you’re a large brand or advertising agency that does high-volume ad buys with brands like Facebook, Google, TikTok, Twitter, or Pinterest, you may run into limits with bonus rewards from Amex or Chase, sometimes within specific days or weeks of the new year. With dash.fi, you never hit a limit with bonus rewards on eligible advertising purchases.
American Express Gold vs. Chase Ink Business Preferred vs. dash.fi
To get a better idea of which card makes the most sense for your business, here’s a breakdown of key rewards and costs among these three cards.
If your primary focus is online advertising spend, you can earn excellent bonus rewards from any of these cards. However, the big bonuses end after $150,000 in spending with the Amex or Chase card. With dash.fi, you earn the same cash back rate whether you spend $5,000 per month on advertising or $100,000 per day.
Finding the Best Business Cash Back Card for You
For companies spending tens of thousands to millions of dollars per year on advertising, the cash back rewards you can earn from switching to the best card for your business can be significant. For example, let’s say your company spends $100,000 per month on digital ads. Here’s how the rewards work with the Amex Gold:
First $150,000 at 4x rewards: 6,000 points
Next $1,050,000 at 1x rewards: 10,500 points
Total Rewards: 16,500 points
If you use the dash.fi card, there are no limits, so your cash back rewards would work like this:
All $1,200,000 at 3%: $36,000
Total Rewards: $36,000
With simple math like this, you can find out the potential for your business. Imagine adding another $36,000 per year to your bottom line. That could help with expansion, bonuses, or your annual business profits. There’s no limit to how you can use your cash back rewards.
The Best Cash Back Card for Online Advertising
Online advertising is a $180 billion industry. With so much importance for so many businesses, it’s surprising that some of the largest online banks in the United States don’t offer more optimized products for critical advertising dollars. That’s where dash.fi comes in.
If you’re interested in earning top-dollar cash back rewards for your digital advertising, dash.fi is likely the card for you. Contact dash.fi today for a demo to get started.