I need some advice. I have a small, nonprofit organization and I travel both domestically and abroad. I have an American Express business card, but many of the international destinations I go to don’t accept it. I’d like a Visa or MasterCard. Which of those two do you recommend? I’d prefer cash back to airline miles.
Your best bet is the Capital One® Spark® Cash Select for Business. It’s a Visa, so you don’t have to worry about the card’s acceptance internationally. It has no foreign transaction fee, so you don’t have to pay an extra 3% of whatever you purchase overseas – and given the cost constraints nonprofits face, 3% can make a big difference. The card gives cash back, so there’s no hassle there, and its annual fee is $0. Plus, it earns a full 1.5% back on every purchase you make – no bonus categories to deal with, which is helpful if you spend your money overseas. It’s simple, straightforward and great for travel.
If you’re working at a nonprofit, I also suggest that you check out our blog post on ways to avoid credit card processing fees on donations. Visa cuts its transaction fee on credit cards to 1.35% + $0.05, while participants in American Express’ Members Give program are charged 2.25%.
You can also get transaction fee-free donations through Capital One’s No Hassle Giving website, or a cool new startup called Frendo, which doesn’t charge for donations from a bank account.
You might also be interested in:
- What Business Credit Cards Don’t Affect Your Personal Credit Score?
- The How, Where and Who of Giving
- NerdWallet’s Best Small Business Credit Cards
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