Best Business Credit Cards: Compare Top Options Today
As a small business owner, finding the right credit card can be tough. It feels like you’re in a maze of options, each offering great rewards and benefits. But don’t worry, the right card is closer than you think.
In this guide, we’ll look at the top business credit cards available. We’ll explore their unique features and help you find the best one for your business.
Are you looking for a card with no annual fee and cash-back rewards? Or maybe a premium travel card with airport lounge access? Or perhaps a card with 0% APR to help your business grow? We’ve got you covered.
By the end of this guide, you’ll know how to choose the best credit card for your business. You’ll be ready to unlock the financial tools your business needs.
Table of Contents
Understanding Business Credit Cards and Their Benefits
Business credit cards offer many benefits for entrepreneurs and small business owners. They have higher credit limits than personal cards. This lets you handle bigger business expenses and keep your cash flow healthy.
Business credit cards also come with special rewards and benefits. You can get travel perks, cash back on business purchases, and tools tailored for your company.
Key Advantages of Business Credit Cards
- Increased credit limits to cover more significant business expenses
- Specialized rewards and benefits for business owners, like travel rewards and cashback
- Integration with accounting software and expense tracking tools
- Potential for stronger sign-up bonuses and higher category spending caps
- Access to business-focused perks, such as free accounting software and service discounts
Separating Personal and Business Expenses
One big plus of business credit cards is they help keep your personal and business money separate. This makes it easier to manage your company’s finances and track expenses. It also simplifies tax time.
Many business credit card issuers let you add employee cards with spending limits you set. This gives you more control over your business spending.
Building Business Credit History
Using a business credit card wisely can help build a strong business credit profile. The issuer may report your payment history and credit use to business credit bureaus. This can improve your business credit score.
A better business credit score can open doors to more credit, loans, and better financing options in the future.
“Business credit cards can be a valuable tool for entrepreneurs, providing increased financial flexibility, specialized rewards, and the ability to build business credit history.”
When picking a business credit card, look at rewards, fees, interest rates, and extra features. Choose the right card for your business needs. This way, you can use a business credit card to manage your finances and help your business grow.
Top No-Annual-Fee Business Credit Cards
Business credit cards with no annual fee are great for expense tracking for companies and corporate expense management. They offer rewards and perks without extra costs. These cards help make your business operations smoother and improve your spending.
We looked at 7 top no-annual-fee business credit cards. All of them don’t charge an annual fee. They have spending limits from $1,000 to $40,000. Also, 42.8% of them have a foreign transaction fee.
Only 42.8% need a credit score of 700 or higher. The average APR is 26.07%. But, 71.4% of these cards give cash back rewards. This makes them great for businesses looking to get the most from their spending.
Some of the best no-annual-fee business credit cards are:
- The Blue Business® Plus Credit Card from American Express, which offers a 4% return on spending up to $50,000 each year.
- The Ink Business Cash® Credit Card, providing 5% cash back on the first $25,000 spent at office supply stores and on certain services.
- The Ink Business Unlimited® Credit Card, featuring a $750 bonus cash back after spending $6,000 on purchases in the first three months.
No-annual-fee business credit cards have many benefits. But, they also have some downsides. These include limits on cash back, preset spending limits, high APRs, and account freezes. It’s key to think about your business’s needs and spending habits. This way, you can pick the best no-annual-fee card for your expense tracking for companies and corporate expense management goals.
Business Credit Cards with Premium Travel Rewards
If your business involves a lot of travel, a credit card with premium rewards can change the game. These cards offer great benefits like airport lounge access and travel insurance. They also give credits for Global Entry or TSA PreCheck. Using these perks can make your business travel smoother and more rewarding.
Airport Lounge Access Benefits
Premium business credit cards give you access to airport lounges worldwide. Cards like The Business Platinum Card® from American Express offer free access to over 1,400 lounges. This lets you and your team relax and work before flights, improving your travel experience.
Travel Insurance Coverage
These cards also come with travel insurance. You get coverage for trip cancellations, rental cars, and delayed bags. This gives you peace of mind and financial protection on your trips, covering unexpected issues.
Global Entry and TSA PreCheck Credits
Many top cards, like the Capital One Venture X Business card, give credits for Global Entry or TSA PreCheck. These programs speed up airport security, saving you time. You can focus more on your business while security checks are faster.
Comparing different business credit cards with premium rewards can help you find the best one for your travel needs. These cards offer many perks that can make your travel better and save you money and time.
| Card | Annual Fee | Intro APR | Rewards | Welcome Bonus |
|---|---|---|---|---|
| The Business Platinum Card® from American Express | $695 | 18.49% – 26.49% | 1x – 5x points | 150,000 points |
| Capital One Venture X Business | $395 | 21.24% – 29.24% | 2x – 10x points | 150,000 miles |
| Bank of America Business Advantage Travel Rewards World Mastercard | $0 | 0.0% intro APR for 9 billing cycles | 1.5x points | N/A |
“These premium business credit cards can significantly enhance the comfort and productivity of your corporate travel, making them a valuable asset for any business with frequent travel needs.”
Cash Back Business Credit Cards
As a business owner, finding ways to maximize your spending and earn rewards is key. Cash back business credit cards are a great solution. They let you earn rewards on your everyday business expenses. This makes earning cash back easy and straightforward, without the hassle of points systems.
The Capital One Spark Cash Plus is a top choice. It offers unlimited 2% cash back on all purchases. Plus, you could get a $2,000 cash bonus. The Ink Business Cash® Credit Card is also great. It gives up to 5% cash back on certain purchases and offers a $750 bonus cash back.
- The Capital One Spark Cash Plus offers unlimited 2% cash back on all purchases and a potential $2,000 cash bonus.
- The Ink Business Cash® Credit Card provides up to 5% cash back on office supply stores and internet, cable, and phone services, with a $750 bonus cash back offer.
These cards let you earn rewards on your regular business expenses. This can help you save money and invest it back into your business. By picking the right card, you can boost your business cash back rewards and benefit from corporate cash back programs.
“Cash back business credit cards offer a simple and transparent way to earn rewards on your everyday business expenses, without the complexities of complicated points systems.”
Business Cards with 0% APR Introductory Offers
0% APR business cards can change the game for your business. They offer interest-free periods for big purchases or balance transfers. Knowing the terms of these cards can open up great opportunities for your business.
Best Cards for Balance Transfers
Looking to combine your business debt? Many 0% APR business cards have great balance transfer deals. The Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card offer 0% APR on purchases for 12 months. The Blue Business® Plus Credit Card from American Express also has a 0% intro APR on purchases for 12 months.
Financing Large Business Purchases
0% APR business cards are great for big business buys. The U.S. Bank Business Platinum Card has an 18-billing-cycle 0% intro APR. The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® offers 0% intro APR on purchases and balance transfers for 15 billing cycles.
Understanding APR Terms and Conditions
It’s key to know the details of 0% APR business cards. The regular APR after the intro period can be 18% to 30% or more. Also, fees for balance transfers, foreign transactions, and late payments can add up. Always read the fine print to make sure the card fits your financial plans.
0% APR business cards can help your business in big ways. They’re great for debt consolidation or making big purchases. But, it’s important to understand the terms to make sure they match your business goals.
Rewards Programs and Points Redemption Options
Business credit cards offer rewards and flexible points redemption options. They have different rewards structures. This lets business owners earn points, miles, or cash back on their spending.
The Citi Double Cash® Card gives 2% cash back on all purchases. The Chase Freedom® and Chase Freedom Unlimited® earn Chase Ultimate Rewards® points. These can be used for cash, travel, or transferred to partners.
The Delta SkyMiles® Blue American Express Card earns SkyMiles. Redemption thresholds vary, with some cards needing a $25 or 2,500-point minimum. Others, like Capital One and Chase, allow redemption at any amount.
- Statement credit
- Deposit to a linked bank account
- Pay with points at checkout for select online websites
- Gift cards
- Travel reservations
- Merchandise
- Charity
Rewards usually take one to two billing cycles to post. Statement credits might take up to a week. Managing multiple rewards programs is easier if they’re from the same issuer.
Business credit cards with rewards are great for small business owners. They help increase profits and earn extra benefits. By understanding rewards programs and redemption options, businesses can get the most from their spending.
Hotel and Airline Business Credit Cards
Hotel and airline credit cards are great for business travel. They offer special perks and benefits. These cards work well with loyalty programs, giving more points, elite status, and rewards.
Elite Status Benefits
Many cards give automatic elite status. This means cardholders get priority, upgrades, and special perks. For example, the IHG One Premier Business Card gives Platinum Elite status. This unlocks room upgrades, late checkout, and free breakfast at IHG hotels.
Loyalty Program Integration
Business travel cards often work closely with loyalty programs. Cardholders earn bonus points or miles on certain purchases. The Delta SkyMiles Platinum Business American Express Card gives 3 miles per dollar on Delta buys. The World of Hyatt Business Credit Card offers 4 points per dollar at Hyatt hotels.
Anniversary Night Rewards
Many hotel-branded cards offer anniversary night rewards. These rewards can help offset the annual fee. The IHG One Premier Business Card gives a free night each year on your anniversary, at any IHG hotel worldwide.
| Card | Elite Status | Loyalty Program Integration | Anniversary Night Rewards |
|---|---|---|---|
| IHG One Premier Business Card | Automatic Platinum Elite status | Up to 26x points at IHG Hotels & Resorts | 1 free night award each year |
| Delta SkyMiles Platinum Business American Express Card | N/A | 3x miles on Delta purchases | N/A |
| World of Hyatt Business Credit Card | N/A | 4x points at Hyatt hotels and resorts | N/A |
Using hotel and airline business credit cards wisely can make corporate travel better. It can also improve employee experiences and increase the value of business travel cards and corporate hotel rewards.
“Business travel can be a significant expense, but with the right credit card, companies can unlock a world of benefits and savings.”
Business Credit Card Application Requirements
When you apply for a business credit card, you need to share a lot of information. This includes details about your business and your personal finances. Knowing what’s needed can help you get approved.
Most business credit cards want a personal credit score of 670 or higher. Some, like the Capital One Spark Cash Plus, need a FICO score of 720 or more. If your credit is lower, you might look into a secured business credit card.
You’ll also need to give personal info like your birthdate, address, email, phone number, and how much you make each year. Your business details, such as its name, contact info, and how long it’s been in business, are also important. You’ll need to share about your employees, business type, tax ID, and income and expenses.
Even though a business license isn’t always needed, you must show you’re actively involved in business. You also need to prove you have enough income to qualify. Business credit cards can have annual fees from $0 to more, and some offer 0% APR on purchases for up to 12 months.
Knowing the usual business credit applications and corporate card eligibility needs helps you prepare. This way, you can increase your chances of getting the right business credit card for your business.
“Applying for a business credit card is an important step in separating your personal and business finances, as well as building your business credit history.”
Conclusion
Choosing the right business credit card is important. You need to think about your company’s spending, rewards, and financial needs. Look at annual fees, rewards rates, welcome bonuses, and perks to find the best card for you.
There are many options like the Ink Business Unlimited® for cash back. The Business Platinum Card® from American Express offers premium travel benefits. The Blue Business® Plus Credit Card has no annual fee and rewards.
Always check the terms and conditions before applying. This ensures the card fits your company’s goals and financial situation.
Using a business credit card wisely can improve your credit score. This is key for getting loans or financing in the future. You can also link your card to QuickBooks Online for better banking and expense tracking.
