Pile of colored credit cards. Concept: best business credit cards.
Monica Williams
By: monica_williams
Read in 19 minutes

The 10 Best Business Credit Cards

How do you take care of the cash emergencies in your business?

Have you considered opening a business credit card? If so, what are best for you?

Keep reading to find out.

guide to understand how to choose the best credit card

The Best Business Credit Cards at a Glance

Annual fee APR Late payment fee Return payment fee
1. The Business Platinum Card American Express $595  18.24% $39 or 2.99% $39
2. American Express Business Gold Card $295 14.24% – 22.24% $39 or 2.99% $39
3. Marriot Bonvoy Business American Express Card $125 15.74% – 24.74% $39 $39
4. Capital One Spark Cash for Business $0 (first year), $95 20.99% Up to $39
5. Chase Ink Business Cash Credit Card $0 0% (first year), 13.24% – 19.24% $39 $39
6. Chase Ink Business Preferred Credit Card $95 15.99% – 20.99% $39 $39
7. Capital One Spark Miles $0 (first year), $95 20.99% $39
8. United Business Card $0 (first year), $99 16.49% – 23.49% $39 $39
9. Southwest Rapid Rewards Performance Business Credit Card $99 15.99% – 22.99% $39 $39
10. Bank of America Business Advantage Travel Rewards World Mastercard $0 0% (first 9 billing cycles), 12.24% – 22.24% $19 – $49 $39

10 Best Business Credit Cards

The key question is: What is the best credit card for small businesses?

The credit limit, fees, and requirements differ for each one. Some of them offer business-specific rewards programs. The truth is, there’s an overwhelming amount of credits cards available for you, but as a busy business owner, you don’t want to lose your time comparing and shopping around.

We did precisely that for you. And we bring you here a shortlist of the most common business credit cards, which are different from personal credit cards.

1. The Business Platinum Card American Express

american express credit card

Annual Fee: $595

Benefits and Features

  • Earn 75,000 Membership Rewards points after you spend $15,000 all on qualifying purchases within the first 3 months of membership.
  • Get access to more than 1,200 airport lounges in 500 countries spread out across the globe.
  • The card offers travelers more lounge options than any other credit card provided on the market today.
  • Receive up to $200 every year in statement credits every time a qualifying airline charges incidental fees such as in-flight refreshments to your business credit card.

APR (for Pay Over Time balances): 18.24%

Penalty fees: $39 or 2.99% for late payment. $39 for return payment.

2. American Express Business Gold Card

american express business card gold

Annual Fee: $295

Benefits and Features

  • Earn 50,000 Membership Rewards points after you spend $5,000 on eligible purchases within the first 3 months of membership.
  • Earn 4x points on the 2 categories where you spend most each month, up to the first $150,000 in combined spend, including shipping, buying gas, advertising in select media, purchased-directly-from-an-airline airfare, and computer cloud computing, software, and hardware purchases.
  • Earn 1 point per dollar on purchases thereafter.

APR: 14.24% – 22.24%

Penalty fees: $39 or 2.99% for late payment. $39 for return payment.

3. Marriot Bonvoy Business American Express Card

the best business credit card

Annual Fee: $125

Benefits and Features

  • Earn 100,000 bonus Marriott Bonvoy points after you use your new card to make $5,000 in purchases within the first 3 months.
  • Get 6 points for each dollar of eligible purchases at participating Marriott Bonvoy hotels.
  • Get 4 points at US restaurants, gas stations, wireless telephone services bought directly from service providers in the US, and on US shipping purchases.
  • Earn 2 points on every other eligible purchase
  • Receive 1 free night award every year after your card’s account anniversary. Plus, earn an additional free night award after you spend $60,000 in purchases on your card in a calendar year.
  • No blackouts

APR: 15.74% – 24.74%

Penalty fees: Up to $39 for late payment. $39 for return payment.

4. Capital One Spark Cash for Business

the fourth best business credit card

Annual Fee: $0 annual fees for the first year; $95 afterward

Benefits and Features

  • Earn a $500 cash bonus after spending $4,500 within the first three months of card opening.
  • Get an unlimited 2% cashback.
  • Zero fraud liability if your credit card gets lost or stolen.
  • Get automatic fraud alerts.
  • Redeem points anytime; no minimums.
  • No foreign transaction fees.
  • Easily and securely download your purchase records to multiple formats including Excel, Quicken, or QuickBooks to make accounting easy.
  • Receive quarterly and yearly reports and easily handle your planning, budgeting, and taxes.

APR: 20.99%

Penalty fees: Up to $39 for late payment.

5. Chase Ink Business Cash Credit Card

Chase Ink Business Cash Credit Card

Annual Fee: No annual fee

Benefits and Features

  • Earn $500 bonus cash back after spending $3,000 within 3 months of account opening.
  • Earn 5% cashback on the first $25,000 spent on office supply, internet, cable, and phone services.
  • Earn 2% cashback on the first $25,000 spent on meals and gas.
  • Earn 1% cash back on every other purchase.
  • Redeem rewards for cash back, travel, and gift cards via Chase Ultimate Rewards®.
  • As long your card stays open, cash rewards don’t expire.

APR: 0% for the first 12 months, 13.24% to 19.24% after that

Penalty fees:$39 for late payment. $39 for return payment.

6. Chase Ink Business Preferred Credit Card

Chase Ink Business Preferred Credit Card

Annual Fee: $95

Benefits and Features

  • Earn 100,000 points upon spending $15,000 within 3 months of card opening.
  • Earn 3 points per dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable, and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year.
  • Get free employee cards.
  • No foreign transaction fees.

APR: 15.99%–20.99%

Penalty fees:$39 for late payment. $39 for return payment.

7. Capital One Spark Miles

Capital One Spark Miles

Annual Fee: $0 for the first year and $95 afterward

Benefits and Features

  • Spend $4,500 on purchases within the first 3 months of card opening and receive 50,000 bonus miles.
  • No blackouts, seat restrictions, or minimum to redeem.
  • Earn unlimited 2 miles on each purchase.
  • Zero fraud liability if a card gets stolen or lost.
  • Redeem miles for any hotel stays, airline tickets, and vacation packages with no expiration date.

APR: 20.99%

Penalty fees:$39 for late payment.

8. United Business Card

United Business Card

Annual Fee: $0 for the first year; $99 afterward

Benefits and Features

  • Get 75,000 bonus miles after spending $5,000 within the first 3 months of opening the card.
  • Get 2 miles on purchases from United including tickets, inflight food, beverages, Wi-Fi and other charges, restaurants and eligible delivery services, gas stations, office supply stores, and on local transit and commuting.
  • Get 1 mile per $1 spent on all other purchases.
  • Employee cards at no additional cost.

APR: 16.49%–23.49%

Penalty fees:$39 for late payment. $39 for return payment.

9. Southwest Rapid Rewards Performance Business 

Southwest Rapid Rewards Performance Business

Annual Fee: $99

Benefits and Features

  • Earn 9,000 points annually on your cardmember anniversary.
  • Get free employee cards.
  • No foreign transaction fees.
  • Earn 60,000 points after spending $3,000 on business purchases within the first 3 months of opening the credit card.
  • Earn 3 points for every $1 you spend on Southwest Airlines purchases, 2 points for every $1 you spend on social media and search engine advertising; internet, cable, and phone services, and 1 point for every dollar you spend on all other purchases.

APR: 15.99%–22.99%

Penalty fees:$39 for late payment. $39 for return payment.

10. Bank of America Business Advantage Travel Rewards World Mastercard

Bank of America Business Advantage Travel Rewards World Mastercard

Annual Fee: No annual fee

Benefits and Features

  • Make $3,000 in purchases within the first 90 days of credit card opening and earn 30,000 bonus points.
  • Every dollar you spend on travel purchases such as airline, car, or hotel earns you 3 points, a good choice for business travelers. 
  • Each dollar you spend on all purchases everywhere earns you 1.5 points each time, regardless of how much you spend.
  • No limit to how many points you can accumulate.
  • Points do not expire.
  • No foreign transaction fees.
  • If you are a Business Advantage Relationship Rewards client, you can earn up to a 75% rewards bonus for every purchase made.

APR: 0% for the first 9 billing cycles, 12.24% to 22.24% after

Penalty fees:$19 – $49 for late payment. $39 for return payment.

How we picked the best business credit cards

To choose the cards on this list, we compared many credit cards and chose the best ones taking into consideration the following:

  • If they have low or no fees
  • Competitive APR
  • Flexible financing
  • Rewards like points, miles, or cashback
  • Introductory offers and bonuses

a happy women with her business credit card

Learn here the do’s and don’ts when using a business card

What to Consider When Selecting a Business Card

  • Requirements

Make sure you know the requirements of the vendor of your choice since they differ widely among business credit cards.

Of course, you need to have a business, even if it’s a small sole proprietorship. Also, make sure you know your credit score since most business credit cards will require you to meet a minimum threshold. You may not get approved for some cards unless your credit is excellent.

That said, you should get a business credit card even without a good credit score. You will just need to spend some time researching to find a card that fits your situation. Finally, while some business cards providers will require you to have an SSN, others will extend you a credit card with your business ITIN only.

  • Type of business

Consider the lifestyle of your business. Are you and your employees always doing long-distance travel? Do you spend tons of money entertaining clients in restaurants? Maybe your company spends a lot on gas?

Choose a business credit card that delivers the most benefits given your business’ lifestyle. If you are planning to use your card to make a big purchase soon, consider one that comes with an introductory 0 % APR deal.

  • Rewards

Consider also your type of business and the kind of operational costs you have when thinking of the rewards you want to seek. Get one that offers the best rewards for those expenses.

  • Fees

Look at the annual fee payable. Sometimes, paying an annual fee makes sense. Usually, cards that require an annual fee offer higher sign-up bonuses and higher rewards rates.

#CaminoTip
In order to keep your good credit score, always pay your monthly business credit card bill in full and on time. You can set up automatic payments so you don’t need to remind yourself or write down the due date on your calendar. When you pay down your credit card bill within 30 days, you don’t pay interest.

Pros and Cons of Small Business Credit Cards

If you’re still unsure if a business credit card is right for you, check out their pros and cons:

Pros

  • They’re an easy and practical way to make business expenses
  • They offer bonuses and rewards
  • They help you build your credit history

Cons

  • Because of the interests and fees, they can end up being expensive
  • You can’t use them to make large expenses (compared to purchases you can make with a loan)
  • Many small business credit cards require a personal guarantee

5 Tips on How to Use Small Business Credit Cards

If you’ve never used a business credit card, maybe you’re feeling a bit anxious about how you’ll use it. But you don’t have to worry, by following these tips you’ll become an expert in using credit cards.

  • Create guidelines (and follow them!) on which expenses you can use the credit card on, and which ones you shouldn’t
  • Never use your business credit card for personal purposes and vice versa
  • Never use more than 30% of your credit limit
  • If your employees will use the credit card, make sure to have policies on how to use it and who gets to use it
  • Make sure to use your points and cashback rewards (many people let them expire)

Other FAQs About Business Credit Cards

What are small business credit cards?

Business credit cards (also called commercial credit cards) are just like personal credit cards, except that they’re used for business expenses.

How do they work?

Once you apply and are approved for a business credit card, you’ll get a credit limit, which works as the maximum amount you can the card issuer allows you to spend. This means that the credit limit work per month, not per purchase (in other words, as you make purchases, the limit decreases). Each month, the credit limit resets itself.

With each purchase, you might be able to get extra benefits, like points or cash back.

What are the types of business credit cards?

There are 2 main types of commercial credit cards:

  • Secured credit cards: This card requires you to make a cash deposit that works as the credit limit.
  • Unsecured credit cards: This type of credit card doesn’t require a cash deposit, and the issuer established your credit limit depending on your credit score

Learn more about Secured and Unsecured Credit Cards

Why should I get a small business card?

A small business credit card can help you handle unexpected business expenses, build your business credit, keep an eye on your employees’ expenses, and stay organized.

Check out this complete list of benefits that come with a business credit card

How do I qualify for a business credit card?

Follow these tips:

  1. Incorporate your business to help separate your personal credit from that of your company
  2. Apply for an EIN number
  3. Open a business bank account
  4. Before you apply, make sure you have the minimum required credit score

Can you get a business credit card with bad credit?

Yes, you can. If you have a credit score of 550 or below you can apply for a secured credit card (meaning, you’ll be required to put up collateral to be approved). Also, check our list of the best cards for bad credit.

Can I use my EIN to get a credit card?

The main purpose of an EIN (Employee Identification Number) is to serve the IRS as an identifier for your business taxes, but it’s also required for most businesses to open a bank account and applying for a loan or for a credit card. You can learn here more about EIN.

list of business credit cards

Is a Business Credit Card Your Best Option?

A business credit card is a great tool to get quick access to money, but as with everything that has to do with your finances, it should be treated with caution.

“A business credit card doesn’t sound like a good idea for me.”

If that’s what you’re thinking, don’t worry. A business credit card isn’t the only way to raise capital for your small business. After all, business credit cards are best for small and recurring expenses that can be paid back within 60 days.

For long-term capital, you should consider other options. A business loan is a great alternative. Depending on the lender, you can receive the money you need rather quickly, and you can start investing it ASAP. The APR in many small business loans is similar (and sometimes even better) than those of business credit cards.

Even better yet, with small business loans, you’ll always know how much you’ll pay each month. With credit cards, your payments vary, and you can get some nasty surprises.

Furthermore, you receive a lump sum that can meet all your business needs: that way you don’t need to wait for each month for your credit limit to go back up!

Business credit cards vs. Camino Financial Business Loan: which is better?

amount of dollar cash

Time to Invest in Your Business

Separating your personal expenses from your business expenses is advisable, and a business credit card is a great tool to do just that. It makes planning, budgeting, and handling your taxes a lot easier, while you can enjoy great rewards and benefits. Consider the features and benefits a credit card offers and seek the business credit cards suitable for you featured in this article.

But not everyone likes using credit cards. If that’s you, consider other options such as a small business loan.

A Camino Financial business loan is a great option for all your business needs, even if you don’t have a social security number.

  • You can receive from $5,000 to $75,000
  • Our APR starts at 12%
  • You’ll make fixed monthly payments
  • You can receive your funds in as little as 2 days!

Submitting your application will take you just a few minutes, and it won’t impact your credit score.

Apply now!

 

 

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