Low Interest Business Credit Cards
Low interest credit cards typically offer an introductory grace period of 6-12 months where you do not paying any interest at all.
These cards are good for businesses that have significant startup costs but should be able to turn a profit quickly and pay off a significant portion of those costs before interest charges are incurred.
After the initial grace period, the interest rates are typically a little lower than other types of cards. But they are still substantial.
If you need to carry a substantial balance on your credit cards then you will save money with the right low interest credit card.
Key Factors to Consider With Low Interest Cards
If you are primarily using the card to cover startup financing, then you should look for a card that offers the longest introductory APR period. The the CitiBusiness World Card offers six months and the American Express SimplyCash card offers 12 months.
If you plan on carrying a balance more regularly, then choosing a card with a low regular APR should be the key consideration. Rates are subject to change, so be sure to check current rates for the cards listed at the bottom of the page.
The American Express Plum Card is a new offering designed to meet the needs of businesses that need credit to purchase inventory as an alternative to vendor financing. With a down payment of just 10 percent, card holders can defer the balance of the payment for 60 days without accruing any interest.
Regardless of which type of low interest credit card is right for you, take the time to compare interest rates, annual fees, rewards and various other features as these can add up in the right situations.
Qualifying For Low Interest Rate Credit Cards
The rate that you are given by the credit card provider depends on your credit score. Make sure that your credit score is good by paying your bills on time. It also helps to keep the balance on your credit accounts less than 50% of the credit limit.
If your credit score does not allow you to qualify for low interest rate credit cards, you can always resort to cards which offer a low introductory rate. That way you can use this time to improve your credit while saving with the lower interest rates.
Begin your search for low interest rates credit cards by comparing various providers and be sure to include those who offer low introductory interest rates.
Best Low Interest Business Credit Card
The Plum Card® from American Express OPEN is our top choice for low interest business cards as the balance can be paid off within 2 months interest fee. This is a good choice for a business that only needs to carry temporary balances that are paid off quickly. If you carry a balance more regularly, you may want to consider a cash back card or a lower regular interest rate card.
The Plum Card® from American Express OPEN
- Intro APR: N/A*
- Intro Period: N/A*
- Regular APR: N/A*
- Annual Fee: $0 introductory annual fee for the first year, then $185*
SimplyCash® Business Card from American Express OPEN
- Intro APR: 0% on Purchases*
- Intro Period: for up to 12 months*
- Regular APR: 12.24% - 19.24% Variable*
- Annual Fee: None*
- Get 5% cash back on wireless services and office supply purchases*
- Get 3% cash back on automobile gasoline*
- Get 1% cash back on other purchases*
- No limit to the amount of cash back you can earn
- Cash back on purchases is automatically credited to your statement each month
- Save 3%-10% automatically on business expenses from FedEx, Hertz®, OfficeMax®, and more with OPEN Savings®*
- No annual membership fee
CitiBusiness® World Card
- Intro APR: 0.00%*
- Intro Period: 6 months on purchases*
- Regular APR: 13.24% (Variable)*
- Annual Fee: None*
- Designed for businesses with an established credit history
- $100 gift card - when you redeem the 10,000 bonus ThankYou® points received after $300 in purchases within 3 months of account opening
- 0% intro APR on Purchases for 6 months. After that, 13.24% variable
- 3 ThankYou points for every $1 spent at certain office supply merchants and on professional services and 1 point for every $1 spent on other purchases
- Earn rewards for your business expenses, including purchases made on employee cards
- Redeem ThankYou Points for merchandise, travel rewards, gift cards, cash and more
- No Annual Fee*
Starwood Preferred Guest® Business Credit Card from American Express OPEN
- Intro APR: N/A*
- Intro Period: N/A*
- Regular APR: 15.24% - 19.24% Variable*
- Annual Fee: $0 introductory annual fee for the first year, then $65*
- Earn up to 25,000 Starpoints®: Receive 10K after your first purchase, and another 15K when you spend $5,000 in 6 months-enough for up to 6 free nights at a Category 1 or 2 hotel
- Redeem Starpoints at over 1,000 hotels and resorts in nearly 100 countries, and for flights on more than 350 airlines through SPG Flights. No blackout dates.
- $0 introductory annual fee for the first year, then $65
The Business Platinum Card® from American Express OPEN
- Intro APR: N/A*
- Intro Period: N/A*
- Regular APR: N/A*
- Annual Fee: $450.00*
- Up to $200 Airline Fee Credit to cover incidentals with the airline of your choice
- 20% Travel Bonus when redeeming with Membership Rewards® Pay with Points
- Complimentary airport club access, including American Airlines Admirals Club® lounges
- Concierge service to assist with your business needs from gift giving to dinner reservations
- Business Platinum Car Rental program with complimentary enrollment in the Hertz #1 Gold Club®, Avis Preferred®, and Emerald club from National® Car Rental
- The Platinum Office Program, offering access to 1,000 internet-equipped business lounges in 450 major cities worldwide
- Enrollment in the Membership Rewards First® program
- No pre-set spending limit*
The New Business Gold Rewards Card® from American Express OPEN
- Intro APR: N/A*
- Intro Period: N/A*
- Regular APR: N/A*
- Annual Fee: $0 introductory annual fee for the first year, then $175*
- Earn points even faster to get more rewards for your business
- 3X points on airfare, 2X points on advertising, gas, and shipping , 1X points on everything else
- One million rewards from over 500 brands
- Unlimited Rewards Potential- there is no limit to the number of points you can earn and points do not expire
- 24/7 support for everything from identity theft to travel emergencies
- $0 introductory annual fee for the first year, then $175
- Get unlimited Additional Gold Cards for an additional annual fee of $50- and this fee is waived for the first year
