If you’re looking for a card that rewards you based on your banking relationship, the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card earns 1.5% back on all purchases. Those with banking and investment accounts at Bank of America can bump their earning rate up to 2.625% on all purchases thanks to Bank of America Preferred Rewards for Business. Business owners who what is a business credit card spend in the card’s bonus categories will love its up-to-8% return (based on TPG’s valuations).
Who should get a 0% APR business credit card?
Treat rewards like any other business asset by using them strategically but not hoarding them indefinitely. Travel might include parking garages, tolls, and even some rideshare services. Telecommunications could cover your internet service, phone bills, and software subscriptions. Brex also has a custom rewards program that’s available to companies with 50 or more Brex users who also will meet minimum spending requirements.
How to choose the best credit card for your business expenses
In this post, we’re ruling out the mediocre cards and bringing you the business credit cards with the best rewards, APR, and benefits for your small business. Whether you want cash back, travel rewards, or a great introductory rate on balance transfers, you’ll find the best credit cards for small business on this list. The Blue Business® Plus Credit Card offers 2X Membership Rewards points on everyday business purchases, making it a top choice for businesses that prefer to earn flexible points rather than cashback. With no annual fee and a 0% intro APR, it provides value while allowing you to build up rewards.
Why We Chose Amex Business Gold Card As The Best For Custom Rewards
APR gets a lot of focus when it comes to credit cards (and rightfully so), but don’t forget to take other card fees into consideration as well. Something seemingly small, such as zero foreign transaction fees or no-cost employee cards, can make a big difference, depending on how you plan to use the card. The answers to these questions will significantly narrow down your search and help you identify the right business credit card for maximizing your spending rewards. A corporate card functions similarly to a charge card where you can’t carry How to Invoice as a Freelancer a monthly balance, but you can earn rewards, make purchases, and manage employee spending. Corporate credit cards are only available to specific business structures, including S-Corps, C-Corps and established LLCs with a strong credit history.
Our pick for simple flat-rate travel miles: Capital One Spark Miles for Business
Most online applications take five to 10 minutes to complete, and some issuers offer instant approval. 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.
- Consequently, this process serves as a way for merchants to confirm their right to obtain a business credit card.
- Bank Triple Cash Rewards Visa® Business Card for a long intro APR period and generous rewards; and The Business Platinum Card® from American Express for premium travel benefits (terms apply).
- Opening a business credit card is a positive step that supports the future growth of your business, and you do not need to have a large business to qualify.
- Business Insider’s personal finance experts evaluated dozens of business credit cards currently available to new applicants to determine the best options for most business owners.
- If a business credit card doesn’t seem like the right fit, but you still need access to business funding, here are a handful of other options.
- Our experts have been helping you master your money for over four decades.
- How important is it for you to have flexible payment options for your customer base?
- With its $0 annual fee, Capital Spark 1% Classic for Business offers business owners with fair credit a great business credit card option without a yearly fee.
- Unfortunately, this card has an annual fee $395, making it much less competitive than some others on this list.
- Opening multiple cards simultaneously can tank your credit score, making future financing more expensive.
- Each issuer allows cardmembers to pool rewards between personal and business accounts, so you can combine them for maximum redemption value.
- Business owners should carefully weigh the potential benefits against these costs before making a decision.
- The best business travel credit cards turn everyday spending into points or miles you can redeem for flights, hotel stays and more.
It also comes with a Priority Pass membership, but you’ll pay a per-visit fee to access the airport lounges within the network. The Business Platinum Card® from American Express has a hefty annual fee (see rates and fees), but its suite of benefits can make it worth it. The Ink Business Preferred® Credit Card is an excellent business card with useful benefits, valuable rewards and a generous welcome bonus. 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.
- Some business cards are especially rewarding for shipping purchases, while others offer bonus rewards on advertising.
- When you choose to apply (and are approved) for a new credit card through our site, we may receive compensation from our partners, and this may impact how or where these products appear.
- If your business spends $5,000 monthly, a card requiring $15,000 in three months works perfectly.
- If you’re not instantly approved for the business card you applied for, don’t worry.
- For companies with moderate spending, the Blue Business Cash offers one of the simplest deals for earning rewards.
Best Business Card for Travel Benefits
When applying for a business card as a sole proprietor, your Social Security number (SSN) should be enough. FoundersCard members get exclusive invitations to networking events, advance access to select shows and concerts, discounted rates on select airlines, and elite benefits at major hotel chains like Marriott, Hilton, and IHG. Earn 2 points on everyday business purchases such as office supplies or client dinners (2 points applies to the first $50,000 in purchases per year, 1 point per dollar thereafter). A personal guarantee is a promise you make to personally pay off the business card’s balance if your https://purina.top/how-to-correctly-calculate-total-conversion-cost/ business is unable to. Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application. You’ll earn at least 2 miles per dollar spent on every purchase and can redeem these miles by transferring them to one of Capital One’s 15-plus transfer partners.
Most of the best business credit cards require a good to excellent credit score ( ) for approval. If your credit isn’t quite there yet, don’t worry — there are secured business credit cards and options that don’t require a credit check, though they may come with lower limits and fewer perks. The best business credit card for you depends on how — and where — you spend. While each card offers different perks, all of them can help streamline your finances and earn rewards on everyday business expenses.
Best Business Card for High Rewards Potential
The best options earn rewards on every dollar spent and provide benefits such as travel insurance, extended warranty, and purchase protection to protect your valuable business assets. Choosing a business card can be overwhelming, but there are several considerations that can help you narrow down your choices and identify the perfect business credit card for your small business’s spending habits and needs. Because Brex is a corporate card and not a traditional business credit card, you can’t carry a monthly balance meaning there are no APR rates to worry about factoring in. The Brex Card is a corporate credit card geared toward venture-backed startups. Brex makes it easy to order employee corporate cards, set spending limits, send reimbursements, and even require receipts and memos for employee purchases so you can easily track all of your expenses.
