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How to Select a Cash Back Business Credit Card

Many business credit cards offer rewards tailored to general business needs. However, some of these rewards can be tricky and only give the appearance of savings, or can have rewards so inconvenient, such as airlines with blackout dates, that they are not worth it. In some cases, the best reward can be simple cash back.

Let's look at the ever-popular frequent flyer miles. You may assume that since you'll be using your credit card anyway, you might as well begin accumulating airline miles and getting free tickets. But not so fast...

There have been attempts by some credit card "gurus" to determine the value of frequent flyer miles. Almost without question, the general agreed-upon value is about 2 cents per mile. One of the reasons behind this is the fact that most airlines won't let you redeem any miles until you've accumulated at least 25,000 of them, and a typical domestic ticket costs around $250.

Did you get that?

You'll typically have to charge $25,000 worth on your business credit card to get one measly airline ticket. Maybe.

Now, if you will regularly charge that much, AND if you will be able to pay off your balance in full so as not to incur interest charges, as well as picking a card that doesn't have an annual fee, you may want to consider a card that rewards frequent flyer miles.

If this just doesn't seem worth it to you, consider a business card with a cash back rewards system.

Cash back is simply another way for the credit companies to give you incentive to use your card. They give you a percentage of the purchase price of participating services back, sometimes in the form of a check, sometimes as a deduction from your balance, and sometimes all at once at the end of the year.

Some cards offer pretty good cash back savings. For instance, American Express's OPEN network offers 3% cash back on Delta and JetBlue tickets, as long as they are purchased directly from the airline's websites. After you buy 34 tickets this way, assuming our $250 domestic flight example, you will have saved enough for a "free" ticket. Other cards offer even better savings, depending on the participating vendor. Some offer savings on shipping, dining, and other frequently used business services.

It's always worth it to fully investigate cash back options on business cards, especially as these cards usually cater to business interests and merchants. Decide what services and products your business uses most frequently, and shop around for cards that work with vendors matching your needs. You might find some unexpected, and in some cases quite high, savings.

Do you want to compare cash back cards and find one just right for your business? Check out our simple comparison chart at http://www.webbizcredit.com/cashback. Jake Everett is a regular contributor to http://www.webbizcredit.com.

Source: www.articledashboard.com