Best Credit Cards for Shopify Store Owners: Maximizing Your Rewards
As a Shopify or other online e-commerce store owner, effectively managing your finances and maximizing rewards can significantly contribute to the success of your business. In this blog post, we explore the best credit cards tailored for online store owners, emphasizing the importance of cash back and rewards that align with the unique needs of this dynamic business model.
Understanding Credit Card Rewards:
Before we dive into the specific cards, let's understand what credit card rewards are and how they work. Essentially, credit card rewards are incentives provided by card issuers to encourage usage. These rewards can come in various forms such as cash back, points, or travel miles.
Why are they great for E-Commerce store owners?
Credit card rewards are incentives provided by issuers to promote usage. These can be cash back, points, or travel miles, and are especially beneficial for online store owners as they:
Offset Business Expenses: Cash back directly reduces business costs.
Manage Cash Flow: Credit cards help in better monthly expense management.
Earn While You Spend: Purchases made with a rewards card earn valuable rewards, effectively making money as you spend.
Recommended Credit Cards
1. Amazon Credit Card
Cash Back Rewards: 5% back at Amazon.com and Whole Foods Market; 2% at restaurants, gas stations, and drugstores; 1% on all other purchases.
Additional Perks: No foreign transaction fees, travel and emergency assistance, lost luggage reimbursement.
Annual Fee: $0
Ideal for Shopify Store Owners: Great for frequent Amazon purchases, offering significant cash back on a major supply source.
2. Michaels Credit Card
Rewards: 9% back in rewards every day.
Additional Perks: 20% off first purchase, periodic free shipping offers, special financing options.
Annual Fee: $0
Ideal for Shopify Store Owners: Tailored for those who regularly purchase crafting supplies from Michaels.
3. Chase Ink Business Cash℠ Credit Card
Cash Back Rewards: 5% cash back on office supplies and internet, cable, and phone services; 2% at gas stations and restaurants; 1% on all other purchases.
Additional Perks: Free employee cards, extended warranty protection, and no annual fee.
Ideal for Shopify Store Owners: Excellent for businesses with significant online operational expenses.
4. Capital One Spark Cash for Business
Cash Back Rewards: Unlimited 2% cash back on every purchase.
Additional Perks: Free employee cards, no foreign transaction fees, and yearly cash bonuses.
Annual Fee: $0 for the first year, then $95
Ideal for Shopify Store Owners: Simple and effective rewards for all types of purchases.
5. American Express Blue Business Cash™ Card
Cash Back Rewards: 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.
Additional Perks: Expanded buying power, car rental loss and damage insurance.
Annual Fee: $0
Ideal for Shopify Store Owners: Good for moderate spending with a cap on higher rewards.
6. Citi Double Cash Card
Cash Back Rewards: 2% on every purchase (1% when you buy plus 1% as you pay).
Additional Perks: Intro APR on balance transfers, no categories to track.
Annual Fee: $0
Ideal for Shopify Store Owners: Straightforward cash back structure suitable for various business expenses.
7. American Express® Business Gold Card
Rewards: 4X points on the two select categories where your business spends the most each billing cycle.
Additional Perks: Airline bonus, purchase protection, and flexible payment options.
Annual Fee: $295
Ideal for Shopify Store Owners: Great for diverse spending habits and high earning in key business areas.
Conclusion
Selecting the right credit card as an online store owner, such as for a Shopify business, is pivotal in optimizing your financial strategy and fostering business growth. From cards like the Chase Ink Business Cash℠ for office-related expenses to the American Express® Business Gold Card for varied spending categories, each option offers unique benefits. It's essential to align your choice with your business's spending habits and operational needs to capitalize on the best rewards and perks.
Hey, I’m Nicole!
Following my successful national park-themed Etsy shop, I'm using social media to share my journey and everything I know, inspiring and empowering fellow crafters and small business owners.
