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Types of Business Credit Cards

If you run a business, you will surely be on the constant lookout for ways to keep costs low. After all, cash flow is the lifeblood of any company, and there is no doubt that leveraging on rewards given by credit cards and other spending solutions are a good way to do this.

In this post, we have collated some business credit cards that can potentially provide you great savings and rewards on many expenses. These are usually applicable for a broad range of business expense categories, from regular online purchases to business trips. Read on to find out more!

1. Spenmo

Image Source: Dribbble

Monthly Fee: From $29

Current Promotion: NIL

Spenmo aims to revolutionize the way businesses track their business expenses. Invoice tracking is made automatically since every employee will be given a dedicated company spending card. Also Spenmo’s dashboard allows companies to have a real time tracking of their operational and marketing costs as well as online spending with complete transparency and control and this is said to provide up to 30% cost savings. 😁

On top of that, expect a 0% foreign exchange markup on your overseas spend. Also, with Spenmo, employees can spend easily but within the allocated budget set by the finance department. If you find yourself struggling to keep track with your company’s expenditure, Spenmo is the one for you!

2. Aspire Corporate Card

Image Source: Aspire

Monthly Fee: NIL

Current Promotion: 3% cashback for the first $2,000 spent per month on inventory purchase, marketing and SaaS

Aspire has been seen as a suitable card for tech-savvy start-ups with large marketing budgets. Start-ups can earn up to 1% cashbacks on online marketing and software subscriptions with merchants like Google, Facebook and LinkedIn for online marketing and Google Suite Business, Shopify and Zoom for SaaS services.

In addition to that, Aspire offers a competitive foreign transaction fee of only 0.4% as compared to similar cards who have fees of up to 3.25%. Being an Aspire cardholder brings about a variety of benefits such as discounts on Slack, Indeed, Wework and others! Isn’t this perfect for startups? 😊

3. Jenfi

Image Source: Jenfi

Monthly Fee: TBA

Current Promotion: NIL

Jenfi works best for digitally-enabled businesses (e-commerce or high growth startups) as Jenfi can help accelerate businesses sales velocity by providing funding for marketing, inventory and growth campaigns.

Expect to have an accelerated monthly growth rate of an average of 5-10% as seen in most Jenfi-backed portfolio companies. In addition, Jenfi aims to provide a full suite of tools that help businesses diagnose and recognise ways to optimize and grow their businesses. If you are looking for something to help fund your upcoming marketing and growth expenses without much hassle, Jenfi is the one for you!

4. AMEX SIA Business Credit Card

Image Source: American Express

Monthly Fee: $0 for first year

Current Promotion: Apply now and enjoy a one night’s staycation at Fairmont Singapore, a first year fee waiver and Accor Plus membership.

If you find yourself travelling a lot for business trips despite the COVID-19 pandemic, AMEX SIA Business Credit Card is the one for you as it rewards you with every trip you take and every swipe you make. This card helps boost your business cash flow with up to 51 interest-free days.

Additionally, cardholders enjoy 8.5 HighFlyer points on SIA, SilkAir and Scoot and 1.8 HighFlyer points on transactions elsewhere. Unlike the cards above, AMEX SIA Business Credit Card offers a lot of personal benefits too such as complimentary travel insurance, priority lounge passes and more! Sign up only if you are allowed to travel during this COVID-19 pandemic since most of us can’t! 😃

These rebates/cashbacks may not sound a lot to consumers but it sure will make a world of difference for cash-strapped Small Medium Enterprises (SME)! Send this blog article to any SME owner you know and help them make every cent count!

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