Small Business Credit Card Use on the Rise
By Justin McHenry
A new Small Business Administration study has found that small business loans of under $100,000 are on the rise, and that more than 70% of such loans are via business’ credit cards. However, and perhaps surprisingly, while the number of these small loans increased 25 percent between June 2004 and June 2005, the total amount of dollars loaned increased only about 1.9%. So, while more small businesses are carrying debt, especially on credit cards, the majority are carrying smaller amounts of debt than in the past.
The Small Business Administration’s Office of Advocacy offers the study of what it terms small business lending (loans of under $1 million) and micro business lending (loans of under $100,000) each year. The full 120-page report just released is available at http://www.sba.gov/advo/research/sbl_05study.pdf.
-
1.Discover® More Card - 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
-
2.Chase Freedom Card - 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
-
3.Citi® Platinum Select® MasterCard® - 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
-
4.Blue Cash® from American Express - Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
-
5. -
6.American Express® Gold Card - 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
-
7.TrueEarnings® Business Card from Costco & American Express - 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months
