You can choose your top spending category monthly for 3% earnings, plus receive 2% on dining purchases (for the first $50,000 spent in combined category and dining purchases per year, then 1% back). If you have qualifying accounts for the Bank of America Preferred Rewards for Business program, you could boost your earning rate to 5.25% back in your chosen category — impressive earnings for a card with no annual fee. This card has few travel perks but no annual fee, so it can be worthwhile for business owners looking to earn cash back easily. The Ramp Business Card stands out for its no-annual-fee structure, straightforward expense controls and seamless integration with popular business tools. It’s a solid option for established U.S.-based businesses that want a corporate card without a personal guarantee or credit check.
Large businesses will get a lot of value out of this card – especially if they spend big in two of Amex’s six high-earning eligible bonus categories. The Amex Business Gold card automatically awards 4X points on the top two eligible bonus categories you spend the most on each billing cycle. This applies to the first $150,000 in combined purchases each calendar year (1X after that). There are also features that help manage cash flow, such as Pay Over Time.
Manage expenses for 10+ employees
However, business credit cards are geared toward small businesses, and depending on the issuer (or specific card product), you may need to produce formal documentation in order to be approved. In addition, business cards typically include bonus categories or benefits that may hold less appeal to the general consumer. This can include bonus rewards on shipping purchases, statement credits for business-related service providers or embedded technology to help with accounting.
If you apply for a credit card, the lender may use a different credit score when considering your application for credit. If you want to check your business credit for free, CreditSignal® is a tool from Dun & Bradstreet that monitors your credit file for changes. It has a 14-day introductory period where you can see credit scores and ratings for free. Jeanine Skowronski is a credit card expert, analyst, and multimedia journalist with over 10 years of experience covering business and personal finance.
Don’t get seduced by the highest credit limit or the flashiest rewards program. Get the card that eliminates friction from your day-to-day financial operations. When your business credit card makes expense management easier rather than more complicated, that’s when you know you’ve found the right fit. Think of credit cards as convenient payment tools, not financing sources. For high-limit spending, charge cards give you more room to scale, while revolving cards offer predictability and payment flexibility for businesses that prefer more control over cash flow. The best business credit card is one that makes your life easier, not harder.
Comparing the best credit cards for business expenses
Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. The credit card offers that appear on this site are from companies from which FinanceBuzz receives compensation such as banks or CardRatings.com. With this business credit card, you don’t have to spend as much to get rewards points with the Blue Business Plus Credit Card from American Express. Simply put, the best small business card is the one that earns a top return on the purchases you make most. What works best for a restaurant owner won’t be the same as the right card for a mechanic, an online retailer, or an events planner.
- Business applications are a bit more complicated than a standard consumer credit card application.
- The two most common credit cards for companies are small business cards and corporate cards.
- Though these cards do require business owners and operators to secure the line of credit with a deposit, they can offer pathways for businesses to build credit.
- Chase uses an unpublished 5/24 policy that makes you ineligible for its credit cards if you’ve opened five or more credit cards in the past 24 months.
In addition, business credit cards don’t have the same consumer protections as personal credit cards under the CARD Act, so you may expose your non-business purchases to unnecessary additional risk. A small business credit card is a financial product that offers a revolving line of credit issued under a small business’s name rather than to an individual. This allows a business to spend up to its credit limit and then pay off its bill over time if needed. Small business cards enable companies to keep purchase transactions separate from personal accounts and may also provide access to meaningful rewards and benefits that offer extra value to the business. Additionally, many personal credit cards pair well with business credit cards.
- Business charge cards usually have no credit limit, but you must pay off the entire balance each month.
- Small business credit cards aren’t just useful for the welcome bonuses and the great return on spending, but they can also be a good way to separate personal and business expenses.
- Customers are allowed to change their preferred bonus category up to once each calendar month for extra flexibility.
- Through the Capital One Venture X Business, you’ll gain access to airport lounges like the Capital One Lounge, Capital One Landing locations and the Partner Lounge Network.
- For starters, it can complicate things when it’s time to do your business taxes, as there is no clear delineation between business and personal expenses.
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It functions much like a personal credit card, allowing users to make purchases up to a specified limit. However, it comes with features and benefits tailored to meet the needs of businesses, such as higher credit limits, business-focused rewards programs, and expense management tools. Every credit card list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products.
Travel rewards business cards
You’ll earn 3 Chase Ultimate Rewards points per dollar spent on travel, shipping, select advertising purchases and internet, cable and phone services (on up to $150,000 in annual combined purchases, then 1 point per dollar). Many of the best business credit cards will not appear on your personal credit report. However, depending on the card issuer, your business credit card account may show up on your personal credit reports. Business credit cards can help you simplify your bookkeeping and keep track of your expenses.
The Hilton Honors American Express Business Card can be an excellent choice for cardholders who spend a lot of money on business travel and hotels. You also receive complimentary National Car Rental Emerald Club Executive status (enrollment required). Additionally, cardholders automatically receive Hilton Honors Gold Status which comes with a fifth night free on every rewards stay. A business credit card is good if you have longer-term plans to access funding for your business and want to establish business credit. Having evidence of an established business with a solid credit history will help you qualify for lines of credit and other loans in the future.
We appreciate cards that offer features like longer billing cycles or customizable payment dates. Choosing the right small business credit card is essential, as a card that works well for one business may not be suitable for another. Start by narrowing down your options to a credit card that aligns with your type of business, and then compare sign-up offers and rewards structures that best suit your industry and business needs. If you pay your bill in full each month, you typically aren’t charged interest on those purchases.
If they need more information, expect a follow-up request or a short waiting period. Either way, don’t refresh your inbox every five minutes — just give it a little time. The right choice depends on how you plan to use it, so think about your business’s spending habits and long-term financial goals before committing. Different issuers offer unique benefits, so it’s worth seeing which one aligns best with your business needs.
Those miles can then be easily redeemed for travel purchases or by transferring to partners. While the card carries a high annual fee, its broad range of benefits and generous earning potential make it a solid choice for businesses with frequent travel and significant spending needs. They can provide revolving credit to ease cash flow demands while often providing tools to automate expense tracking. Similar to choosing a personal card, you’ll want to research, review and compare several aspects of small business cards to find one that fits your spending profile and preferences. Consider these questions to help you pick the right card for your needs and goals. Take advantage of an immense welcome offer, strong cash-back rewards and an introductory APR with the U.S.
FinanceBuzz makes money when you click the links on our site to some of the products and offers that we mention. You’ll need excellent credit on your credit score to get this Bank of America card. Also, while the 0% APR offer is incredibly enticing for the initial 12 months, it’s essential to be aware that the rate will undergo an adjustment once you hit the account’s anniversary. Issues can arise at any time, and responsive customer support is invaluable.
The information for the Ink Business Preferred has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer. Businesses of any size will enjoy straightforward minimum cash-back opportunities on this card plus increased earnings on travel when booked directly through Capital One’s travel booking site. For rates and fees of the American Express® Business Gold Card, click here. For rates and fees of the Blue Business® Plus Credit Card from American Express, click here.
Plus, earn an additional $2,000 cash bonus for every $500,000 spent during the first year. Potential cardholders should calculate how much they’ll need to spend in order to accumulate enough rewards or cash back to offset that fee. There are many business cards with no annual fee that can be excellent options if you prefer to avoid those costs.
Not all issuers report business activity, though, so it’s worth checking your business credit report if that is an important factor for you. Check out the friendly debate I had on this topic with Bankrate editor Reena Thomas, an annual-fee card skeptic. High-spending businesses can take home a ton of cash-back without worrying about complicated travel rewards. Business owners whose spending habits fluctuate will love the fact that this card has no preset spending limits.
Other criteria include redemption options and flexibility, customer service, small-business perks and other rates or fees. Our business credit card reviews can help you compare offers to find the one that best suits your needs. Small-business credit cards aren’t just for formal business structures best small business credit cards like a limited liability company (LLC), corporation, or partnership.
What’s your favorite small business card – and why?
However, you often have to pay additional fees to view unlimited full reports. Plus, your business credit card could provide multiple benefits to your personal score. This could be done by managing your business credit card account responsibly, which demonstrates you’re a reliable borrower, or lowering your personal credit utilization, for instance. The first is the person looking for a card with a lucrative earning structure but no annual fee. The second is someone who needs a card for those “other” expenses that fall outside the bonus categories offered by other rewards cards in their wallet.
Here are some of the top business credit cards to consider for your small business in 2024. Each card offers a unique set of rewards, perks, and features to help your business succeed. Whether you’re looking for cash back, transferable points, or a co-branded card with your favorite airline or hotel rewards program, you’ll find a good card for your situation in this list.