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Monday, October 20, 2014

Best Credit Cards For Owner-Operator Truckers

by / Wednesday, 09 January 2013 / Be the first to comment! Published in Blog

If you’re in the market for a business credit card, the offers can be confusing. Every card seems to be the best according to the advertisers, but they’re obviously a bit biased! With a range of fees and rewards and often complicated terms and conditions, it is easy for an unsuspecting owner/operator to rack up a load of fees and debt by choosing the wrong card.

Fortunately, not all offers are the same. When used appropriately, some cards will benefit your owner/operator trucking business. Let’s take a look at a few of the best credit cards for owner-operator truckers.

 

Capital One Spark Classic Business Credit Card

The Capital One Spark Classic Business Credit Card is a great choice for those who are just starting out or have credit issues. This card is designed for small business owners who want a decent credit card with the opportunity to build credit.

With this card, you’ll earn 1 percent cash back on every purchase. Other noteworthy benefits include fraud alerts, travel and emergency assistance, expense reporting, discounts at select merchants, dining discounts and more. You’ll also have $0 fraud liability for unauthorized purchases. All of this comes with no annual fee.

Capital One Spark Cash Business Credit Card

The Capital One Spark Cash Business Credit Card is an excellent card to have in your wallet on the road. It offers $100 cash back after $1,000 is spent within the first 3 months. Also, you’ll receive 2 percent cash back on every purchase. Additionally, it offers the same non-cash benefits as the Spark Classic card.

This card has no annual fee in the first year and a $59 fee each year after that. However, given that you’ll receive double the rewards of the Spark Classic card, the rewards will easily cover the fee and more if you use it frequently.

Chase Ink Cash

The Chase Ink Cash card is another solid choice for a trucker’s wallet. With it, you’ll get $100 cash back after your first purchase and another $150 cash back if you spend at least $5,000 within the first 3 months.

On an ongoing basis, you’ll receive 5 percent cash back on the first $25,000 spent each year at office supply stores and on cable television, Internet, landline and mobile phone services. Of these, you probably only use a mobile phone and office supplies to run your trucking business, but 5 percent cash back on those items alone can still add up. 

You’ll also earn 2 percent cash back on the first $25,000 spent each year at gas stations and restaurants. Be careful with this, as many cards do not cover diesel. Still, you probably eat at restaurants frequently, so this is another good bonus to consider.

All other purchases qualify for one percent cash back and the rewards never expire. The cash back rewards, along with expense tracking and custom alerts, make this a solid card to have in your wallet - particularly as it comes with no annual fee.

The Bottom Line

Each of the mentioned credit cards will be beneficial to your trucking business if you use it appropriately. Be sure to remember that a credit card is not free money, as the typical cardholder tends to spend 12 to 18 percent more when paying with plastic.

Of these cards, the best bet is the Capital One Spark Cash card. However, if you don’t qualify for it, the Spark Classic card is another good option. The Chase Ink Cash card is another good bet if Capital One doesn’t appeal to you.

Whichever card you choose, just remember not to go overboard and you’ll rack up solid rewards!


Content and expertise courtesy of OnRamp Transportation Services LLC. Copyright 2013 Foretelligent LLC. Author: Clay Wyatt, Foretelligent LLC


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