Using a business credit card is a highly advantageous and excellent approach for business owners to maximize their rewards and savings.
These business credit cards help entrepreneurs and businesses manage cash flow to earn rewards for everyday purchases.
The best credit cards for Businesses are a treasure trove of benefits, rewards, cashback, traveling perks, and more.
Whether you’re a startup owner or an established business, this guide will help you navigate the Business credit card landscape to make the most informed choice for your financial needs.
What are Business Credit Cards?
Business credit cards are just like personal credit cards. The only difference is that they are tailored to meet the needs of businesses.
They help you build and enhance business credit and cover short-term expenses in a stress-free manner. Plus, you earn rewards!
Types of Business Credit Cards
The ideal Business credit card depends on your unique business requirements, spending habits, and financial goals.
The following credit card companies provide a range of benefits to cater to various business types and preferences.
You must evaluate your options to find which aligns best with your business’s needs.
1. Chase Business Credit Cards - Welcome Bonus Extravaganza!
The Chase Business Credit Cards stands out with its attractive welcome bonuses and category-specific rewards.
New cardholders can earn significant points or cash back upon meeting the spending requirements.
Apart from rewarding bonus categories to earn more points, they also provide essential financial tools like expense tracking to support your business needs.
The best Chase Business Credit Cards: Chase Ink Business Cash Credit Card, Chase Ink Business Preferred Card, Chase Ink Business Unlimited Credit Card
2. American Express Business Credit Cards - Travel Enthusiast's Dream
The American Express Business Credit Cards offers a suite of Business credit cards, each designed to address specific business requirements, such as travel or cashback rewards.
These are perfect for businesses prioritizing travel as they offer many travel-related benefits, including points transferable to airline and hotel partners and Complimentary Lounge Access.
The Best American Express Business Credit Cards: American Express Business Platinum Card, Blue Business Plus Card from American Express, American Express Business Gold Card
3. Capital One Business Credit Cards - Ideal for Earning Rewards
The Capital One Business Credit Cards is renowned for its straightforward rewards programs that simplify earning and redeeming rewards for businesses- without the complexity of rotating categories.
Capital One Card is a top choice for business owners with fair or less-than-perfect credit. It provides an opportunity to rebuild credit while enjoying the benefits of a business credit card.
The Best Capital One Business Credit Cards: Capital One Venture X Business Credit Card, Capital One Spark Miles, Capital One Spark Cash Select for Good Credit, and Capital One Spark Cash Select for Excellent Credit
4. Bank of America Business Credit Cards - Personalized Cash Back
The Bank of America Business Credit Cards are often linked to the Preferred Rewards program, offering increased rewards for eligible business owners.
The Bank of America Business Credit Card stands out for its customizable cashback rewards and Competitive APR. Business owners can choose which spending categories earn higher cash rewards for them.
The Best Bank of America Business Credit Cards: Bank of America Business Advantage Cash Rewards Mastercard, Bank of America Business Advantage Travel Rewards World Mastercard, Bank of America Platinum Plus Mastercard Business Card
Best Business Credit Cards
Here are our best picks for Business Credit Cards that not only make your business easier but come with added perks and rewards.
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Chase Ink Business Cash Credit Card
The Chase Ink Business Cash Credit Card is an excellent choice for business owners with the flexibility of employee cards with individual spending limits.
Cardholders can enjoy 5% cash back on Lyft rides, round-the-clock monitoring for unusual purchases, and Zero Liability for unauthorized charges.
Sign-up Bonus Rewards Rate Annual Fee Earn $900 bonus cash back on spending $6,000 on purchases in the first three months from account opening.
– 5% cash back on the first $25,000 spent combined at office supply stores, on internet, cable, and phone services each account anniversary year
– 2% cash back on the first $25,000 spent combined at gas stations and restaurants
– 1% cash back on all other purchases
$0
With no annual fee, this card lets you redeem for cash rewards, gift cards, travel, and more via Chase Ultimate Rewards.
The Chase Ink Business Cash credit card provides a 0% introductory APR for 12 months on purchases, Purchase Protection, business management services, and Auto Rental Collision Damage Waiver.
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American Express Blue Business Plus Credit Card
The American Express Blue Business Plus Credit Card is a fantastic choice for Business owners and entrepreneurs.
With no annual fee, it provides an impressive array of benefits, including a 0% intro APR on purchases for the first 12 months, perfect for managing expenses and cash flow.
Sign-up Bonus Rewards Rate Annual Fee Earn 15,000 points after spending $3,000 in purchases within your first three months of Card Membership.
– 2X points on everyday business purchases such as office supplies or client dinners
– 1X point per dollar on all other purchases
$0
With expense management perks like Employee Cards, Online Statements, and an Account Manager, it simplifies your business finances.
The Blue Business Plus Card from American Express also offers Car Rental Loss and Damage Insurance, Global Assist Hotline, and Purchase Protection.
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The Business Platinum Card from American Express
The The Business Platinum Card from American Express offers a generous rewards program with 1.5x points on key business categories, making it a robust choice for business owners.
You get $1000 in annual statement credits for purchases with companies like- Dell Technologies, Indeed, and Adobe.
Sign-up Bonus Rewards Rate Annual Fee Earn 120,000 bonus points once you spend $15,000 on purchases within the first three months of Card Membership.
– 5X points on flights and prepaid hotels booked on AmexTravel.com
– 1.5X points on each eligible purchase at U.S. construction material & hardware suppliers, electronic goods retailers, shipping providers, etc.
– 1X point for each dollar you spend on eligible purchases
$695
Plus, you’ll receive perks like no foreign transaction fees, Marriott Bonvoy Gold Elite Status, and Hilton Honors Gold Status.
The Business Platinum Card also provides a $200 Airline Fee Credit, access to Global Lounge Collection, CLEAR Plus Credit, and Fee Credit for Global Entry/TSA PreCheck.
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Capital One Spark Cash Plus Credit Card
The Capital One Spark Cash Plus Credit Card is designed to simplify your business finances while offering substantial benefits.
It has no APR, meaning you must pay the balance in full every month, ensuring that interest doesn’t accrue.
Your $150 annual fee can be refunded when you spend at least $150,000.
Annual Fee Rewards Rate Sign-up Bonus Earn a cash bonus of $1,200 when you spend $30,000 in the first three months.
– Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
– 2% cash back on every other purchase
$150
The card has no foreign transaction fees and boasts a flexible spending limit that adapts to your financial behavior.
You get a solid 2% cash back on all purchases, $0 Fraud Liability, Purchase Records, Payment Flexibility, Roadside Assistance, Extended Warranty, and exclusive travel benefits via Capital One Travel.
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Capital One Venture X Business Card
The Capital One Venture X Business Card is a valuable asset for business owners who travel frequently with an annual $300 credit for bookings via Capital One.
Cardholders enjoy amazing rewards and exclusive travel benefits, including 15+ travel loyalty programs, a $100 statement credit for Global Entry/TSA PreCheck, free access to Capital One Lounge, etc.
Sign-up Bonus Rewards Rate Annual Fee Earn 150,000 bonus miles when you spend $30,000 within the first three months of opening the account.
– 10X on hotels and rental cars book through Capital One Travel
– 5X on flights book through Capital One Travel
– Unlimited 2X miles on every purchase
$395
Additionally, the Capital One Venture X Business Credit Card comes with $0 Fraud Liability, zero foreign transaction fees, and Free Employee Cards with customized spending limits.
You’ll also get 10,000 bonus miles after your account anniversary date, along with no preset spending limit and flexible redemption options.
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Chase United Business Card
The Chase United Business Card is a valuable asset for frequent United Airlines travelers.
With a $100 United travel credit after 7 United flights each anniversary year, you get off to a great start!
If you want to achieve Premier status, the card offers a unique opportunity to earn up to 1,000 Premier qualifying points (PQP).
Sign-up Bonus Rewards Rate Annual Fee Earn 75,000 bonus miles when you spend $5,000 on purchases in the first three months from account opening.
– 2 miles per $1 spent on purchases from United, including tickets, Economy Plus, Inflight food, beverages, etc.
– 2 miles per dollar spent on dining, including eligible delivery services
– 2 miles per dollar spent at gas stations, office supply stores, and on local transit and commuting
– 1 mile per $1 spent on all other purchases
$99 (Waived for the First Year)
Additionally, the Chase United Business Credit Card comes with 2 United Club one-time passes and priority boarding on United-operated flights.
Employee cards are included at no extra cost, and you can enjoy benefits like a free first-checked bag.
| Credit card |
Uthrive rating
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Intro offer | Rewards rate | Annual fee | Learn more |
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Terms Apply |
Rating
4.8/5
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Intro Offer bonus_miles |
Reward Rates 1% - 5% cash back |
Annual Fees annual_fees |
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Terms Apply |
Rating
4.7/5
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Intro Offer bonus_miles |
Reward Rates 1x - 2x Membership Rewards® points |
Annual Fees annual_fees |
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|
Terms Apply |
Rating
4.8/5
|
Intro Offer bonus_miles |
Reward Rates 1x - 5x Membership Rewards® points |
Annual Fees annual_fees |
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|
Terms Apply |
Rating
4.5/5
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Intro Offer Earn a cash bonus of $1,200 when you spend $30,000 in the first three months. |
Reward Rates 2% - 5% cash back |
Annual Fees $150 |
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Terms Apply |
Rating
4.7/5
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Intro Offer bonus_miles |
Reward Rates 2 - 10 Miles per dollar |
Annual Fees annual_fees |
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Terms Apply |
Rating
4.6/5
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Intro Offer bonus_miles |
Reward Rates 1x - 2x Miles per dollar |
Annual Fees annual_fees |
How do Business Credit Cards Work?
The function of Business credit cards is similar to that of personal credit cards but are designed to meet the specific financial needs of businesses.
They often come with credit limits tailored to the business’s financial capability.
Business cards offer a convenient way to separate personal and business expenses, track and manage spending, and provide financial flexibility.
Many business credit cards require you to offer a personal guarantee. It is a legally binding agreement where you become personally responsible for paying off the credit card bill if your business can’t do so.
What is a Business Credit Score?
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Understanding Business Credit Score
A business credit score differs from personal credit scores as it’s tailored for assessing businesses.
These scores are typically derived from a business credit report, which contains information about the company, such as its workforce size, historical records, past payment behavior, account details, outstanding balances, and more.
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Range
Unlike personal credit scores, business credit scores often use different numerical ranges.
Most business credit scores fall between 0 and 100, while those employing the FICO Business Scoring Service (FICO SBSS) may range from 0 to 300.
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Influencing Factors
A business credit score assesses your firm’s creditworthiness with elements like- payment history, credit availability, and any legal judgments like tax liens or bankruptcy.
This score is determined by three primary business credit bureaus, Dun & Bradstreet, Equifax, and Experian, providing potential creditors with insights into your business’s financial stability.
What do I need to apply for Business credit card?
To apply for a Business credit card, you have to fulfill the following requirements.
Remember that these can vary between credit card issuers and may depend on your business’s size, structure, and creditworthiness.
You must provide your business’s legal name, address, Federal Tax ID, and contact details. Some cards may require an Employer Identification Number (EIN) or Social Security Number (SSN) if you’re a sole proprietor. Be prepared to share details about your business’s annual revenue, expenses, and years in operation. This helps lenders to assess your business’s financial stability. The bank will need your personal information, including your DOB, Address, and phone number. You may need to specify your business’s legal structure, such as a sole proprietorship, LLC, partnership, or corporation. A good personal credit history is always beneficial, as many Business credit cards require a personal guarantee.
Why should I get a Business Credit Card?
Using a business credit card can be a valuable addition to your company’s financial toolkit, helping you manage day-to-day finances and work towards long-term growth and success.
Below are a few ways in which it can contribute to your business’s growth.
These cards will aid in establishing and improving your business’s credit history, which can be vital for future financing needs and growth opportunities. Many cards provide cashback rewards, travel points, and discounts on business-related expenses like office supplies, helping you save money and earn valuable perks. Business credit cards often come with expense tracking tools, free access to credit scores, monthly statements, and year-end summaries that streamline accounting and help with financial planning. In unexpected circumstances, such as equipment breakdowns or sudden inventory needs, a business credit card can serve as a valuable financial safety net. Business credit cards have a revolving line of credit, which is essential for covering expenses during slow months or when waiting for client payments.
Pros and Cons of a Business Credit Card
When considering the best credit cards for Businesses, please remember these pros and cons:
Pros
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You can keep the business and personal expenses separate and avoid a ton of confusion.
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You get additional bonuses, rewards, and perks.
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Great welcome offers are an incentive.
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Many cards offer free employee cards that help track business spending better.
Cons
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The minimum spending requirements are higher than personal cards.
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You might not get a business card on your personal credit.
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Sometimes, the issuer might do a hard check and impact your personal credit score.
How to Choose the Best Business Credit Card?
Selecting the right Business credit card can be a crucial decision for business owners.
These cards offer financial flexibility, expense tracking, and the opportunity to earn rewards that can benefit your business.
Consider the following key factors to choose the best Business credit card that aligns with your business needs and goals.
You need to figure out which categories your business spends most on as it helps make a better decision. For example, if your business spends more on travel, you can get a travel credit card. In contrast, if your business spends on different categories, you need a flat-rate cashback card. Many of the available business cards are charge cards. It means you have to pay them off in full each month, while others are regular cards that allow you to carry a balance. Some options fall in between these two categories and have a Pay Over Time feature. Make sure you learn about all these financing options in detail before deciding. The annual fee is a recurring cost associated with the credit card, so make sure it meets your budget and the value you expect to receive from the card. For some businesses, the benefits and rewards offered by a card can outweigh the annual fee, while others may prefer a card with no annual cost to maximize savings. If you choose to carry a balance from one month to the next, you will need to pay an interest amount. So, if you are someone who mostly carries a balance over, pick the card options with the lowest APR. Some cards come with 0% intro APR too. Feel free to look for those. Beyond basic spending potential, many Business credit cards offer extra perks that can enhance your business operations. These may include travel rewards, introductory 0% APR periods, expense management tools, or customized features tailored to your business needs. Ensure that these perks align with your business requirements and can help you save money.
Why should you maximize rewards on Business Credit Cards with Uthrive?
Maximizing rewards on business credit cards with Uthrive is a no-brainer. This user-friendly app serves as your personalized credit card manager, effortlessly helping you find the right credit card for every purchase.
It takes the hassle out of tracking individual credit card benefits and ensures you’re always using the best card for the job, whether shopping, dining out, or booking travel.
Uthrive’s alerts will keep you on track, ensuring you never miss out on potential rewards.
With top-notch security and broad coverage of major credit cards, airlines, and hotels, the Uthrive app provides a seamless and safe way to earn more savings and cashback without any extra effort.
Business Credit Cards FAQ’s
Can anyone apply for a business credit card?
Yes! Anyone can apply for a business credit card, including individuals who operate a sole proprietorship or freelance business.
You must have a good credit score and meet the qualification criteria to apply for a business credit card.
Can you get a business credit card with bad credit?
Getting a business credit card with bad credit can be a little challenging, as most issuers prefer good to excellent credit scores for approval.
But you can still explore Secured Business Credit Card options such as Wells Fargo Business Secured Credit Card while working on improving your credit.
Does applying for a business credit card affect personal credit?
Applying for a business credit card may lead to a minor dip in your personal credit score due to a credit inquiry from the card issuer, but it typically has a minimal impact.
What are the benefits of business credit cards?
Business credit cards offer various benefits, including expense tracking, cash flow management, rewards like cash back or travel points, employee spending control, and the opportunity to build business credit.
How do you build business credit?
You can build business credit by opening a business credit card, paying bills on time, maintaining a positive credit history, and separating business and personal finances.
Do business credit cards appear on my personal credit report?
Usually, business credit card activity does not get reported on your personal credit report.
However, there are a few exceptions, like most Capital One Business cards do; if you fail to pay your bill, these charge cards may appear on your credit report.
What is the difference between a small-business credit card and a corporate credit card?
The main distinction between corporate and small-business credit cards lies in the liability for debt and fees.
The primary cardholder bears personal liability for small-business cards, while corporate cards hold the company accountable.
What is the best credit card for startups or new businesses?
For startups and new businesses, two best credit cards to consider are the Chase Ink Business Cash with 2%-5% cash back and the Capital One Spark Cash Select with unlimited 1.5% cash back on all business purchases.
Can you get a business credit card without a personal guarantee?
Typically, you cannot get a Business credit card without personal guarantee.
However, it’s possible for some niche products designed for specific cardholders, but you must have a robust business credit profile for that.
What is the best business credit card?
The best business credit card for an individual often depends on their needs and spending habits.
However, one popular choice is the Chase Ink Business Preferred Credit Card, with a generous sign-up bonus, valuable rewards, and many business benefits.
What's the difference between small business and personal credit cards?
The major difference between Business cards and personal cards is their credit card limit.
Business Credit Cards often come with a higher credit limit that provides more spending power to businesses.
How can I start my business credit?
To start your business credit, establish your business as a legal entity, obtain an EIN (Employer Identification Number), open a business bank account, apply for business credit, and manage it responsibly.
What is the easiest business credit card to get?
There are many easy-to-get business credit cards. The Capital One Spark Cash Select for Good Credit credit card is one such card, as you need a credit score of over 640 to get it.
Even people with a Fair business credit can apply for and get this card.
What should I look for when shopping for a Business credit card?
While selecting a Business credit card, one must evaluate various rewards and benefits to find the one that aligns with their business needs.
Consider the annual fee, reward structure, APR, foreign transaction fee, and other additional perks.
What do I need to apply for a Business credit card?
To apply for a Business credit card, you need to provide your business’s legal name & contact information, your personal details, including your Social Security number, business revenue and expenses, and other documentation to verify your business’s legitimacy.
How to get a business credit card?
You can get a Business Credit Card by applying online or by visiting a nationalized bank branch.
The application process is similar to that of a personal Credit Card, requiring details such as your occupation type, mobile number, annual income, and more.
How many cards can I get for my company?
The ideal number of credit cards for your business is subjective and varies on different things.
It depends upon your budget, spending habits, and the potential benefits of credit card rewards programs.
When will I receive my card in the mail?
Whether you want a Business credit card for bad credit or good credit, you can usually get the cards within 7-10 business days after being approved.
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