Purchases earn 1 point per dollar spent with no limit to the points you can earn. In addition, you’ll earn point bonuses when you reach certain spend levels:

• Upon reaching $25,000 in annual spend, receive 7,500 bonus points
• Upon reaching $50,000 in annual spend, receive an additional 15,000 bonus points
• Upon reaching $100,000 in annual spend, receive an additional 25,000 bonus points

There is an annual fee of $95 which is waived for the first year. For more info or to apply, see the following link:

Chase Ink Bold application

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Chase Ink Bold with Ultimate Rewards: 50,000 Bonus Points Worth $625 in Airfare

The card also has an intro 0% APR on both purchases and balance transfers for the first 6 months, although balance transfers are assessed a hefty 5% fee, with a $15 min and no cap. There is, however, no annual fee.

Ink Cash Business application

Another Ink business credit card offering a $250 bonus is the Ink Bold with Ultimate Rewards. The Ink Bold is a pay-in-full card with no interest expense and up to 30 days to pay.

Under the Ink Bold offer, you’ll earn 25,000 bonus points after your first purchase (worth $250 in cash, or more if redeemed for travel). In addition, you can earn over 45,000 additional bonus points every year for meeting specified spending thresholds. For instance, once you spend at least $25,000, you’ll receive 7,500 bonus points. Upon reaching $50,000 in net purchases, you’ll earn another 15,000 bonus points. And finally, upon exceeding $100,000 in net purchases, you’ll receive an additional 25,000 bonus points. What this means is that if you spend exactly $100,000 in a year, your effective cash back would be 1.475%. If redeemed for travel through Ultimate Rewards, your points will be worth 25% more.

The annual fee of $95 is waived for the first year under this offer.

Ink Bold with Ultimate Rewards application

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Ink Business Credit Cards from Chase: $250 Signup Bonus

To take advantage of this offer, either visit theinkcard.com or call 877-434-3788 and mention offer code 876. This offer is valid for the Ink Bold, Ink and Ink Cash business credit cards and is available until February 15, 2011. (via FW)

See more Chase Ink offers here:

• Ink Bold(SM) with Ultimate Rewards(SM)
• Ink Cash(SM) Business
• Ink Plus(SM) with Ultimate Rewards(SM)
• Ink(SM) with Ultimate Rewards(SM)

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Chase Ink Business Card: Up to 30,000 Bonus Points

1. Spend $5,000 or more between April 1st and June 30th 2010 and you’ll receive 5,000 bonus points which can be redeemed for $50 Cash Back
2. Each purchase of $500 or more will earn you 1000 bonus points. Up to ten such purchases may be eligible, for a total of 10,000 bonus points during the promo period.

Eligible cardholders should have received a direct mailing. To register, or to check if your card is included, see Chasebonus.com/biz801. (Via FW)

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Chase Business Credit Card Bonus: Up to 10,000 Points

For details on the $50 bonus, see this link (Via FW)

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$50 Statement Credit for Spending $50 at Amex Open Merchants

Ink from Chase will feature the first charge card from any Visa or MasterCard issuer, as well as three more new credit cards for small businesses, offering rewards, cash back and large credit limits.

The Ink Bold is Chase’s new charge card that comes with a variable credit line that automatically adjusts to consumers’ spending patterns. Ink Bold carries an annual fee of $95 which is waived for the first year. Each dollar spent will earn one point, which is equivalent to a 1% rebate. Also of note:

As one-time bonuses Annually, once you exceed $25,000 in net purchases you will receive 7,500 bonus points, once you exceed $50,000 in net purchases you will receive an additional 15,000 bonus points, and once you exceed $100,000 in net purchases you will receive an additional 25,000 bonus points.

Ink Cash also offers one point per dollar spent with no annual fee. In addition, it offers an additional 2 bonus points per dollar spent at gas stations, restaurants, home improvement stores and office supply stores. Purchases made at convenience stores, superstores, warehouse clubs and discount stores, however, are not eligible for the bonus points. Bonus points are also limited to 4,000 per billing cycle.

Ink Plus has a $60 annual fee that is waived the first year. In addition to the one base point per dollar spent, you will also earn
a one-time bonus of 10,000 bonus points for exceeding $50,000 in net purchases and a one-time bonus of an additional 15,000 bonus points for exceeding $100,000 in net purchases. Sadly but predictably, this is far less attractive than the 1.5% rebate that the Chase Flexible Rewards Business card, this card’s predecessor, offered.

For more information on these new cards, see www.inkfromchase.com.

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Ink from Chase: New Credit Cards for Small Business

• Receive quarterly & annual account summaries separated by purchase category at no additional cost
• 24/7 personal business assistant to arrange business dining, travel & entertainment
• Prescription discount program for cardmembers & their dependents

A word of warning: these terms are far better than what is currently available on Citi’s website. The current offer for this card shows an intro 0% on purchases for 12 months, but no intro balance transfer offer, and no bonus Thank You points. So it may be advisable to save some screenshots or printouts of the offer if you choose to apply.

Link (Via FW)

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Citi Professional Card: 0% APR on BT for 12 Months Plus 15,000 Thank You Points

There are a number of caveats, however.

1. Are you using cash-basis accounting?
The first precondition is that your business must be using the cash-basis method of accounting (as opposed to accrual), where income is not counted until revenue is actually received and expenses are not counted until they are actually paid.

2. Will you be in the same or lower tax bracket next year?
Then you need to consider whether it’s in your best interests to defer your income at all. If you expect that you will be in the same or lower tax bracket next year, you will probably want to defer as much of your income as possible to the future, so prepaying will make sense. If instead you anticipate that you will be in a higher tax bracket next year, you’ll want to realize as much of your income immediately while deferring your expenses. In this case, you would not want to prepay your expenses.

3. Does the economic benefit of prepayment last less than 12 months?
Assuming you meet the other conditions, you can prepay your expenses with a credit card and recognize the expense immediately. This favorable treatment does not apply to revolving store cards, however, which means that you can’t deduct your business expenses on your Sears account until the bill is actually paid.

In general, you can prepay up to a year’s worth of expenses and still recognize them immediately. According to this CPA firm, the prepayment should meet the following conditions:

• The expenditure is an actual payment — not a refundable deposit,
• The prepayment is for a substantial business purpose and not merely to avoid taxes, and
• The deduction does not materially distort income

With a few days left in the calendar year, it’s still not too late to take advantage of this technique. This is one instance where charging now could end up saving you money later.

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Small Business Owners: Save on Taxes By Prepaying with your Credit Card

Effective immediately, Balance Transfers and Convenience Checks against OPEN Credit Card accounts will no longer be accepted or available. This includes requests made by phone, online or through the use of Balance Transfer, Convenience Checks and Cash checks.

I called Amex and they confirmed that all small business credit cards are affected, including new accounts.

This is clearly bad news for small business owners. In the current economic climate, businesses can no longer rely on their open lines of credit to be there when needed. Businesses would be well advised to hold adequate cash reserves, have lines of credit from multiple creditors and if necessary, to draw on these lines in advance of when they are required.

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Amex Business Credit Cards No Longer Allow Balance Transfers

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Visa SavingsEdge Helps Small Businesses Save More

The main and only real reason to get this card is to take advantage of the perpetual 3 months of free float, which in itself would be attractive to many businesses.

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Advanta Platinum 90-Day Interest Free BusinessCard

There is no annual fee, plus the card earns cash back rewards: a 3% rebate at restaurants, gas stations, office supply stores, building supply stores, hardware and home improvement stores; 1% everywhere else.

Link

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Chase Business Rebate Card: 0% BT for 15 Months, 7.99% Fixed Afterwards

Unfortunately, the utility of the card’s most unique feature, “PurchaseChecks”, has almost completely vanished. PurchaseChecks, which allow you to write checks to merchants that don’t accept credit cards, are no longer subject to the promotional interest rate, and do not have a grace period.

Link

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Discover Business Card: $100 Signup Bonus

Register your Chase Visa Business Rewards Card at chasebizbonus.com/enroll and spend $5,000 or more between May 1 and June 30, 2008 and you’ll get a one-time $100 cash bonus. Your $100 cash bonus will automatically appear as a credit on your statement within 8 weeks of the end of the promotion.

In addition, when you use your card in May and June, you’ll be automatically entered into a sweepstakes to win a Grand Prize of a $30,000 check.

After doing a bit more investigation, I found that any Visa Small Business credit card should be eligible for this promotion. You can see more details about this promo at www.visabizperks.com.

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Visa Business Card Bonus: Earn $100 After Spending $5000 in May and June

The tax argument against business cash back cards
It’s commonly accepted that any cash rebate that you receive from personal credit cards is not taxable, as it just another form of a discount to you. In the case of a business, however, when the cash rebate is treated as a discount, it reduces the cost basis of your purchase. As a result, this decreases your effective rebate by your marginal tax rate.

To make this concrete, consider this example: You purchase merchandise for $100. You resell it for $150. Your credit card gives you 1% cash back. Your cost basis is actually $99 then. So your profit was $51 instead of $50, and you’ll be taxed on that extra dollar you earned as a rebate. If your effective tax rate of your business is 40%, after tax you made $30.60 ($51 x 0.6) instead of $30 ($50 x 0.6). Your effective credit card rebate then is 0.6% rather than 1%.

What about business miles cards?
Now then the question becomes: is it any better when you earn points or miles instead of cash back? The answer, I believe, comes from IRS Announcement 2002-18:

Most major airlines offer frequent flyer programs under which passengers
accumulate miles for each flight. Individuals may also earn frequent flyer miles
or other promotional benefits, for example, through rental cars or hotels. These
promotional benefits may generally be exchanged for upgraded seating, free
travel, discounted travel, travel-related services, or other services or benefits.

Questions have been raised concerning the taxability of frequent flyer miles or
other promotional items that are received as the result of business travel and
used for personal purposes. There are numerous technical and administrative
issues relating to these benefits on which no official guidance has been provided,
including issues relating to the timing and valuation of income inclusions and the
basis for identifying personal use benefits attributable to business (or official)
expenditures versus those attributable to personal expenditures. Because of
these unresolved issues, the IRS has not pursued a tax enforcement program
with respect to promotional benefits such as frequent flyer miles.

Consistent with prior practice, the IRS will not assert that any taxpayer has
understated his federal tax liability by reason of the receipt or personal use of
frequent flyer miles or other in-kind promotional benefits attributable to the
taxpayer’s business or official travel. Any future guidance on the taxability of
these benefits will be applied prospectively.

This relief does not apply to travel or other promotional benefits that are
converted to cash, to compensation that is paid in the form of travel or other
promotional benefits, or in other circumstances where these benefits are used for
tax avoidance purposes.

Essentially what the IRS is saying is that because it’s too much of a hassle to put a value on your points or miles, they won’t make an attempt to tax them. If, however, you convert them to a cash equivalent, you should pay tax on them.

So, on the one hand you have cash back rebates that are taxed; on the other you have mileage and point rewards that the IRS will not pursue–if all other things are equal, which card are you choosing?

Let me take the time to issue a disclaimer: I am not an accountant, and you should not take this as tax advice. Consult a professional before taking any action.

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IRS Hassle is Your Gain: Why a Business Miles Card is Better than a Cash Back Business Card

For more info, see 53business.com.

Note: Per the comments below, this offer is valid only for residents in the following states: Ohio, Michigan, Illinois, Florida, Pennsylvania, Missouri, Kentucky, Tennessee and West Virginia.

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Fifth Third Bank Business MasterCard: 0% BT for 12 Months, No BT Fee

Earn a full 10% Cashback Bonus on your first $2,000 in restaurant purchases and a full 10% Cashback Bonus on your first $2,000 in home electronic store purchases for up to three months after your account is opened. Restaurant purchases are those made at merchants we classify as full-service restaurants, cafes, cafeterias and fast food locations. Home electronic store purchases are those made at merchants that specialize in the sale of electronic devices used for home entertainment and small electronic products, such as Best Buy and Circuit City.

Link

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Discover Business Card: 10% Rebate on Restaurant and Electronics Purchases for 3 Months

Pay Early Discount
Pay your balance in full within 10 days of your billing cycle date and get a 2% discount when your month’s total spending is above $5,000 and 1% when it’s $5,000 or below. The discount is applied to all new eligible charges in that month, and will appear as a credit on your following month’s statement.

Defer Pay Option
Take up to two months from the closing date on your monthly statement to pay your new balance in full–all without interest or finance charges. Just make an initial payment of 10% by the Please Pay By date on your billing statement and you can extend payment on the rest until the next month’s Please Pay By date.

The card does have an annual fee of $185, which is waived the first year.

To add a bit of drama, Amex is limiting the number of cards initially issued to 10,000. You can find more information on the card, as well as request an application at this link.

Before you consider applying, though, consider this: unlike personal credit cards, the rebate on business cash back credit cards is taxable. In contrast, miles are not. That’s why, if you do any traveling, I would recommend instead a business credit card that earns miles like the Starwood Preferred Guest Amex.

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Amex Introduces the Plum Card for Small Businesses

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Advanta Platinum with Rewards: 0% BT for 16 Months

Redeeming Your Miles
Miles redemption is very flexible and is identical to the personal version of Discover’s travel card:

Book any travel through any airline, travel agent or online travel site and pay with your Miles Card. Then redeem your Miles, for every 5,000 Miles get a $50 travel credit to your account towards your travel purchases.

You also have the option of redeeming your Miles for gift cards from one of Discover’s partners.

Unique features
There are a couple of unique features to Discover’s business cards which are worth highlighting:

• Fee-free PurchaseChecks: for use with vendors who do not accept credit cards, Discover offers checks that you can write that are not only fee-free, but earn 0.25 Miles for each dollar you spend. Purchases made with the checks offer the same APR and grace period as regular purchases made with the card. Note that only checks used to purchase or lease goods or services from a merchant are eligible for this treatment; any other use is treated as a cash advance.
• Real-time customizable limits for employee cards: if, for some reason, the credit limit for one of your employees needs to be increased temporarily, you can either phone or log into your account online to change it immediately. When you would like to reset the limit back to its normal level, you can phone or log in online again to set it back.

For more information, visit http://www.discoverbiz.com or click here.

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Discover Introduces Business Miles Card

• 0% fixed APR on both purchases and balance transfers for the first 6 (or 12) billing cycles
• A variable purchase APR, as low as 14.24% (as of today), afterwards
• A tiered rewards scheme with no merchant or category spending restrictions:
• For the first $2000 of spending in a billing cycle, earn 1 point per $1
• For new net purchases between $2000 and $2500, earn 5 points per $1
• For new net purchases over $2500 in a cycle, earn 1.25 points per $1
• You can redeem 5000 points for $50 or use the points towards merchandise.
• Receive quarterly management reports
• Receive additional cards your employees can use

While Chase markets the card as giving “up to 5% [cash] back,” that’s clearly misleading, as you’ll never receive a total return of 5%. If we were to use Chase’s logic, a flat 1% credit card could be marketed as giving “up to 100% back” if it was tiered such that you don’t earn anything for the first $99 of spending, but you earn $1 for the 100th dollar. But I digress.

Doing the math, the cash back percentage maxes out at 1.8% if you spend exactly $2500. That’s pretty nice. If you spend more within a cycle, your return will of course slowly move closer to 1.25%. So if you spend over $2500 in business expenses every month, you would earn somewhere between 1.25% and 1.8%, which is quite a nice return when you consider that it applies to any purchase, not just at specific merchants.

In addition, as a Visa, you’re unlikely to need another card should you so choose, in contrast with an Amex or Discover card, that do not enjoy universal merchant acceptance.

The news is not so good if you plan to carry a balance on the card. As is usually the case, if you won’t be able to consistently pay your bill in full, the first thing to consider is not the rewards or cash back, but the regular APR. And in this case, you can do better. Other Chase business cards, as well as business cards from other issuers, can offer better rates.

If, however, you don’t plan to carry a balance, this card is an excellent choice. It offers a high percentage of cash back every time, and you can use it almost anywhere.

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Chase Business Cash Rewards Card Review

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Win $50,000 in Discover Business Card Sweepstakes

The business cards included are:

• Business Platinum Card — has an annual fee of $300 for the basic card
• Business Gold Rewards Card — has an annual fee of $125 waived for the first year
• Platinum Business Premium Cash Rebate Card — has no annual fee
• Platinum Delta SkyMiles Business Credit Card — has an annual fee of either $135 or $80, depending upon your qualifications

So, if you’re planning to apply merely for the signup bonus you’ll want to get either the Business Gold Rewards Card or the Platinum Business Premium Cash Rebate Card to avoid the annual fees.

The offer is available here. Technically speaking, it is only available to people who saw the offer in their free issue of Inc. magazine. You may also be required to show proof of having a real business, so YMMV. Credit to FW.

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$250 Statement Credit with Amex Business Card Signup

The direct link to the additional bonus is here. Via FW. This offer has also been added to the credit card offer database.

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Citi Professional Card: 15000 Points After First Purchase

For example, if you spend $1,000 in October, $1,200 in November, $1,500 in December and $800 in January, the positive difference in your spending would be $700 and you would earn 700 bonus points in addition to the 3,500 regular points you would have earned for your spending from November through January.

In addition, when you register for this promotion, you’re automatically entered into a sweepstakes with a Grand Prize of a $100,000 statement credit. There are also four first prizes of a $10,000 statement credit and 2,000 second prizes of a $25 Starbucks gift card.

You can register for this promo either online at www.open.com/sweeps or by calling 1-866-537-1397.

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Double Membership Rewards Points for Amex Business Cards, Plus a $100,000 Sweepstakes