As a contractor, you know the importance of sourcing your materials at a fair price. Doing so means you may offer a more competitive rate to your customers. The best business credit cards for contractors will increase your profits plus help you have the tools to perform high-quality work.
The best credit card for construction business is a card designed especially for the construction business with features that include:
An integrated expense management software component
A credit limit that matches your money flow
Syncing of receipts to invoices; with
No credit score needed
Great job thinking about using a credit card to charge all your home remodeling and expansion expenses to earn rewards points. Home remodeling can get very expensive, so you might as well try to get some freebies along the way. Using among the best bank cards for home remodeling can help you earn rewards fast.
Best Credit Cards For Home Remodeling, Construction, And Expansion
We understand the value of home maintenance and remodeling to get a lot of money for resale. We also appreciate an excellent remodel that increases livability. An excellent home remodel is all about the facts.
Capital One Spark Business Cards
If you want to earn 2% back on every purchase, get the Capital One Spark Cash for Business. This is an improved option than the Amex Blue Business Cash when spent at least $50,000 annually. You can redeem your rewards in virtually any amount for cash statement credits.
To redeem your points for award travel, the administrative centre One Spark Miles for Business earns unlimited 2x miles per $1 allocated to all purchases. Cardholders can earn 5x miles per $1 spent on hotels and car rentals if indeed they book through Capital One Travel. Your miles are redeemable for travel statement credits, booking upcoming travel, and transferring to airline loyalty programs. Additionally you get a Global Entry or TSA PreCheck application cost credit, up to $100.
The annual charge for either Capital One cards is $0 for the first year and then $95.
The Plum Card from American Express
Not many credit cards for contractors offer flexible repayment terms. You understand how much of a struggle it can be to earn a variable income and pay the bills during slow months.
For large purchases that you need up to 60 days to settle, The Plum Card® from American Express will probably be your most suitable choice. You get a 1.5% early pay discount, with no cap on what you can earn back when you pay your balance prior to the billing cycle ends. Take up to 60 days to pay without interest, when you pay your minimum due by the payment due date.
The annual fee is $250 (See Rates & Fees). If the Plum Card can help you save at least $250 in twelve-monthly interest charges, it’s worth owning this card.
American Express Business Gold Card
The American Express® Business Gold Card earns up to 4x Membership Rewards points on both categories where your business spent the most each billing cycle*. This pertains to the first $150,000 in combined purchases annually (then you’ll earn 1x point for all the purchases):
Airfare purchased directly from airlines
Advertising in select media (online, TV, radio) – U.S. purchases only
Purchases made directly from select technology providers of computer hardware, software, and cloud solutions – U.S. purchases only
Gas station purchases – U.S. purchases only
U.S. restaurant purchases
Purchases for shipping (U.S. only)
If you advertise on TV, radio, and online, these purchases can earn 4x points per $1. If the card awards bonus points on advertising spending, it’s usually limited to an internet search engine and social media purchases.
Your points are worth the most when redeeming for award flights on AmexTravel or select retail present cards. Each point will probably be worth 1 cent with these redemption options. You may get 25% of your points back when redeeming your points for award flights (up to 250,000 points per year)*.
You can also transfer your points to the other Membership Rewards airline and hotel transfer partners. If you own another card that earns Membership Rewards, you can pool your points to book award travel more often.
The best business credit cards for contractors can rely upon your average purchase size if you happen to be distant locations. You might need flexible repayment conditions if your variable income can’t always repay large purchases within a billing period. But you may appreciate earning bonus points on travel, gasoline stations, and advertising if you also spend a lot of time looking to reach new customers.