A construction credit card can help you manage construction business spending. As the construction business owner, you are likely enjoying the construction boom that has happened with the healthy economy. The worthiness of new private construction in the U.S. has reached 898.7 billion, and the industry is likely to grow to $1.53 trillion by 2022.
Running a successful construction company requires someone to have the ability to make purchases when they are needed so that your company can fulfill the deadlines of your projects. Construction cards can help your company to do that. They are cards that you will give to your employees so that they can make the purchases that they need in a timely manner without having to wait for the purchase approval process.
When you are searching for a credit card for a construction business, there are several optimal features that you should look for. The perfect card ought not charge a high rate of interest or high gross annual fees.
A good credit card for the construction industry also needs to allow you to place limits on where the card can be used. You should look for a card which allows one to restrict the use of the card to specific suppliers or vendors and this lets you restrict the amounts that may be spent.
Running a construction business? Since you accept more projects and grow your portfolio, your business expenses may follow suit.
If you spend a lot of money on business credit cards, you’ll want to make certain that you’ll have the ability to handle evolving business needs as your company grows.
The best credit card for construction business will have high credit ceilings, excellent rewards, and flexible financing terms.
That way, you can get as much as you can out of every dollar you spend, whether it’s on lumber or labor. Getting an incremental 1% or 2% back on large business expenses can make an enormous difference in the long run. And of course, it always helps if you can get benefits for travel, too!
The Business Platinum Card® from American Express
5x Membership Rewards points per $1 on flights and prepaid hotels booked with Amex Travel
1.5x Membership Rewards points per $1 in select business categories and on eligible purchases of $5,000 or more (up to $2 million in purchases per twelve months)
The best airport lounge access from any card, including Centurion Lounges
35% Pay with Points rebate (up to 1 1 million points back per year)
Access to Fine Hotels and Resorts along with the Hotel Collection
No preset spending limit
Capital One Spark Cash Plus Card
Unlimited 2% cash-back on every purchase
No preset spending limit
$200 cash bonus yearly you spend $200,000 or more
Free employee cards
No foreign transaction fees
The CapOne Spark Cash Plus card is one of the most unassuming cards out there – but it’s super useful for high-spending companies.
First of all, this card constantly offers a large welcome bonus, albeit usually with a larger spending requirement than other cards.
This particular product has no preset spending limit, so it’s similar to the Amex Business Platinum card for the reason that sense.
You’ll earn an unlimited 2% cash-back on every purchase without limits or category restrictions, plus an gross annual cash bonus of $200 every year you may spend $200,000 or more.
The Plum Card® from American Express
1.5% discount on total earnings if you pay your bill early
Take up to 60 days to pay your bills without interest
No-additional-cost employee cards (rates & fees)
No foreign transaction fees (rates & fees)