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For small business owners and entrepreneurs, a business credit card can be a valuable tool for managing expenses, earning rewards, and building credit. With various options available, it’s essential to choose a card that aligns with your business needs and spending habits. Whether you’re looking for cash back, travel rewards, or a low-interest rate, there’s a business credit card to fit your requirements.
In this guide, we’ll explore the best business credit cards of [Year], highlighting their key features and benefits. Discover which card can help you maximize your business spending and rewards, streamline expense management, and improve your cash flow.
What Is a Business Credit Card?
A business credit card is designed specifically for business expenses and offers features tailored to the needs of business owners. Unlike personal credit cards, business credit cards often come with higher credit limits, rewards programs, and expense management tools. They can help you separate business expenses from personal ones, simplify accounting, and earn rewards for business-related purchases.
Business credit cards are typically available to sole proprietors, small business owners, and even larger enterprises. Many cards offer benefits such as cash back on purchases, travel rewards, and various perks to help you manage and grow your business effectively.
Now, let’s dive into the best business credit cards.
1. Chase Ink Business Preferred® Credit Card
Key Features:
- Sign-Up Bonus: Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. This is worth $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
- Rewards Program: Earn 3x points on the first $150,000 spent on travel and select business categories each account anniversary year, 1x point on all other purchases.
- No Foreign Transaction Fees: Ideal for businesses that travel internationally.
- Annual Fee: $95.
The Chase Ink Business Preferred® Credit Card is a top choice for businesses that spend heavily on travel and other business categories. The substantial sign-up bonus and high earning potential in select categories make it a great option for maximizing rewards. With no foreign transaction fees, it’s also well-suited for businesses with international travel needs.
2. American Express® Business Gold Card
Key Features:
- Rewards Program: Earn 4x points on the 2 categories where your business spends the most each month (on the first $150,000 in combined purchases per year), and 1x point on other purchases.
- Sign-Up Bonus: Earn 70,000 Membership Rewards® points after you spend $10,000 on qualifying purchases within the first 3 months.
- Annual Fee: $295 (Rates and Fees).
- Expense Management Tools: Offers expense management and reporting tools to streamline business finances.
The American Express® Business Gold Card offers flexible rewards in categories where you spend the most, making it ideal for businesses with varied spending patterns. The significant sign-up bonus and comprehensive expense management tools add further value for business owners looking to maximize rewards and manage their finances efficiently.
3. Capital One Spark Cash for Business
Key Features:
- Cash Back Rewards: Earn 2% cash back on every purchase, every day.
- Sign-Up Bonus: Earn a $500 cash bonus after you spend $4,500 on purchases within the first 3 months.
- No Annual Fee: $0 intro annual fee for the first year, then $95.
- No Foreign Transaction Fees: Perfect for businesses that operate internationally.
The Capital One Spark Cash for Business is an excellent choice for those who prefer a straightforward cash back rewards program. With 2% cash back on every purchase and a generous sign-up bonus, it’s a great card for businesses that want to earn cash back on all their spending. The lack of foreign transaction fees is an added benefit for global operations.
4. Ink Business Cash® Credit Card
Key Features:
- Cash Back Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, 1% on all other purchases.
- Sign-Up Bonus: Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
- No Annual Fee: $0.
- No Foreign Transaction Fees: Ideal for international business expenses.
The Ink Business Cash® Credit Card offers high cash back rates in key business categories and a substantial sign-up bonus. With no annual fee and no foreign transaction fees, it’s an excellent choice for businesses looking to maximize cash back while managing expenses in office supply, telecommunications, and dining categories.
5. Business Platinum Card® from American Express
Key Features:
- Rewards Program: Earn 5x points on flights and prepaid hotels booked on amextravel.com, and 1.5x points on eligible purchases of $5,000 or more (on up to $2 million in purchases per year).
- Sign-Up Bonus: Earn 120,000 Membership Rewards® points after you spend $15,000 on purchases in the first 3 months.
- Annual Fee: $695 (Rates and Fees).
- Travel Benefits: Includes access to over 1,300 airport lounges worldwide and other premium travel benefits.
The Business Platinum Card® from American Express is geared towards businesses that travel frequently and spend significantly. The card offers exceptional rewards on travel and large purchases, along with a premium set of travel benefits. While it has a higher annual fee, the extensive rewards and travel perks can be highly valuable for businesses that fit this profile.
6. Deserve® EDU Mastercard for Students
Key Features:
- Rewards Program: Earn 1% cash back on all purchases.
- No Credit History Required: Designed for international students and those with limited credit history.
- Amazon Prime Student Subscription: Receive a complimentary year of Amazon Prime Student after spending $500 in the first 3 billing cycles.
- No Annual Fee: $0.
- No Foreign Transaction Fees: Useful for students who travel abroad.
The Deserve® EDU Mastercard for Students is a great option for students starting to build their credit. It offers cash back on all purchases and a free Amazon Prime Student subscription, adding extra value. The card is also well-suited for international students with no U.S. credit history, as it doesn’t require a credit history for approval.
How to Choose the Best Business Credit Card for Your Company
When selecting a business credit card, consider the following factors to ensure it meets your needs:
- Rewards and Benefits: Determine if you want cash back, travel rewards, or other benefits. Choose a card that aligns with your business spending habits to maximize rewards.
- Annual Fees: Compare annual fees and assess whether the benefits and rewards of the card outweigh the cost.
- Sign-Up Bonuses: Look for cards with generous sign-up bonuses that can provide immediate value.
- Expense Management Tools: Some cards offer tools for tracking and managing expenses. These features can simplify accounting and financial management.
- Foreign Transaction Fees: If your business involves international transactions, choose a card with no foreign transaction fees to avoid extra charges.
- Credit Limits and Terms: Evaluate the credit limits and terms to ensure they meet your business needs and cash flow requirements.
How to Use a Business Credit Card Responsibly
To make the most of your business credit card, follow these tips:
- Pay Your Balance in Full: Avoid interest charges by paying off your balance each month. This helps maintain a positive credit history and keeps your expenses in check.
- Track Your Spending: Use the card’s expense management tools to monitor spending and stay within your budget. This can also help with tax preparation and financial reporting.
- Separate Personal and Business Expenses: Use your business credit card exclusively for business expenses to keep your finances organized and simplify accounting.
- Leverage Rewards: Maximize the benefits of your card by taking advantage of rewards and perks that align with your business needs.
- Monitor Your Credit: Regularly check your credit reports and scores to ensure your business credit remains in good standing.
Find the Right Business Credit Card for Your Needs
Selecting the best business credit card can help you manage expenses, earn rewards, and streamline financial operations. Whether you’re interested in cash back, travel rewards, or premium benefits, there’s a card that fits your business needs.
Consider the options outlined in this guide and choose a card that aligns with your spending habits and financial goals. By using your business credit card responsibly, you can take advantage of valuable rewards, improve your cash flow, and support the growth of your business.
