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Best Business Credit Cards

There are hundreds of small business credit cards offered by top banks and financial institutions. The best business credit cards are those which have the highest limit and lowest interest rate with sign up bonus and other premium features. There are many differences between business credit cards and and consumer credit cards. It is little harder to get get a credit for small business, you may need to submit documents which can validate that you own a small business such as registered EIN - Employer Identification Number, Schedule C filing documents, etc. However, if you fulfill all the criteria and manage to get one for your small business, you should be happy because business credit cards come with higher limits and has more features. It should be kept in mind that the business cards should be used exclusively for business purpose only because most of perks are related with business purchases. 

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Best Business Credit Cards

 

Best Small Business Credit Cards

These are the top 20 business credit cards for small business

  1. Ink Business Preferred - Chase Bank - For high business transactions 
  2. Business Advantage Travel Rewards - Bank of America - Best for Maximum Travel Redemption
  3. CitiBusiness World Master Card - Citi Bank - Best for air miles
  4. Business Platinum Card - Amex - Best for high travel transaction
  5. Spark Cash for Business - Capital One - Airfare bonus, cashback and reward points 
  6. Ink Business Cash - Chase Bank - Best for cashback
  7. Business Gold Rewards - Amex - best overall but for high and frequent transactions 
  8. Spark Miles for Business - Capital One - Best for travel rewards
  9. Business Unlimited - Chase Bank - Best for cash back
  10. Discover it Miles - Discover - Best business travel card without annual fee
  11. Simply Cash Plus Business - Amex - Best for cashback and bonus
  12. SPG - Starwood Preferred Guest - Amex - Best for Hotel Booking
  13. Platinum Delta Skymiles - Amex - For Business Traveler
  14. Delta Skymiles - Amex - For Business Delta Traveler
  15. Gold Delta Skymiles - Amex - Traveler Rewards 
  16. Blue Business - Amex - Best for bonus rewards
  17. Cash Select for Business - Capital One Bank - Best for cashback
  18. Miles Select for Business - Capital One Bank - Air fair rewards
  19. Business Green Rewards Card - Amex - For low profile business
  20. Spark Classic for Business  - Capital One Bank - Best for low small business with credit score

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Ink Business Preferred : This is the overall best Business Credit Card for small business and big business by Chase Bank. This credit card offers introductory bonus, cashback, rewards points for shipping, travel, telecommunications, online advertising and so on. There is no annual fee and spending more than $5,000 on the first three months will let you earn more than $1,300.

  • Annual Charges : $0
  • Opening Bonus : $500 provided you spend $3,000. 
  • APR : First year is free of interest an then up to 21%
  • Rewards : Extended warranties, purchase protection, cashback, rewards points redemption etc. 

Eligibility Criteria

  • Credit score of 800+
  • TIN for business
  • 1 year in business
  • Should have profitable business track records

For more information visit Ink Business Preferred page

Business Advantage Travel Rewards : This business credit card by Bank of America is for those who book flight tickets frequently. You get fixed rewards points without any limit and expiry and can be redeemed easily.

  • Annual Charges : $0
  • Opening Bonus : 25,000 rewards points which is equivalent to $250
  • APR : Up to 23%
  • Rewards : fixed 3 reward points for for every dollar spent for buying tickets, booking hotel, etc. 

Eligibility Criteria : 

  • Credit score of 800+ 
  • TIN for business
  • 2 year in business
  • Proprietor with 5+ employees

For more information visit Business Advantage Travel Rewards page

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CitiBusiness American Airline Advantage World Master Card : This business credit card by Citi bank is a travel card, with many ways to earn rewards points such as on airline tickets, gas stations, etc. 

  • Annual Charges : $0
  • Opening Bonus : 70,000 miles by spending $4,000 in the first four months of sign up
  • APR : Up to 26%
  • Rewards : Free first bag check in America

Eligibility Criteria : 

  • Credit score of 800+ 
  • TIN for business
  • 3 years in business
  • Proprietor/business with 10+ employees

For more information visit CitiBusiness American Airline Advantage World Master Card Page

Business Platinum Card : The best credit card for business travel offered by American Express. Some of the perks owning this card are sign up bonus, no APR, Reward points, cashback and so on. Also, it includes complimentary access to lounge, free WiFi, and other rewards. Do keep in mind there is an annual fee of $450.

  • Annual Charges : $450
  • Opening Bonus : 100,000 miles 
  • APR : No APR
  • Rewards : No international transaction fee 

Eligibility Criteria : 

  • Should have excellent credit score
  • Well established business

For more information visit Business Platinum Card page

Spark Cash for Business : This is the best credit card for cashback from Capital One Bank. The unique feature of this card is most of the perks are converted into cash backs be it welcome bonus or business purchase you get cash back. Do remember this card attracts annual maintenance charge. 

  • Annual Maintenance Fee : $95
  • Opening Bonus : $500 cashback on purchase of $4,500 in 4 months
  • APR : Upto 21%
  • Rewards : 2% cashback on all purchases 

Eligibility Criteria : 

  • Credit Score : 750+
  • Well established business

For more information visit Spark Cash for Business page

Ink Business Cash : It is the Chase Bank's popular cash back business credit card with 2 percent cashback for all purchases. Few more benefits of owning a Chase Bank credit card are extended warranty, insurance and theft protection.

  • Annual Maintenance Fee : $0
  • Opening Bonus : $500 cashback on spending $3,00 in the first three months
  • APR : 0% for first year and then Upto 21%
  • Rewards : 5% cashback for the first year on all business spending

Eligibility Criteria : 

  • Credit Score : 800+
  • Business with at least 2 employees

For more information visit Ink Business Cash page

Business Gold Rewards : Very popular business rewards credit card by Amex with features and benefits such as baggage protection, theft protection, membership rewards points, and so on. Also this is a charge card so there is no APR.

  • Annual Maintenance Fee : $175, free for the first year
  • Opening Bonus : Get 50,000 rewards points by spending $5,000 in three months.
  • APR : N/A
  • Rewards : Membership Perks

Eligibility Criteria : 

  • Credit Score : 800+
  • Profitable Business 

For more information visit Business Gold Rewards page

Spark Miles for Business : This business credit card is offered by Capital One Bank, this is a travel rewards card with unlimited rewards accumulation and without expiry. The rewards points can be redeemed for flight booking, hotel booking and for paying credit card bill. 

  • Annual Maintenance Fee : $95, free for the first year
  • Opening Bonus : Get 50,000 rewards points by spending $5,000 in three months.
  • APR : N/A
  • Rewards : Reimbursement of fares during emergencies. 

Eligibility Criteria : 

  • Outstanding credit history
  • Small profitable business

For more information visit Business Gold Rewards page

Business Unlimited : It is a very popular cashback business credit card without any annual maintenance charges. You get sign up bonus, i year extended warranty, purchase protection, etc. This credit is issued by Chase Bank. Also, you can use the rewards points to book flight, hotels, etc.

  • Annual Maintenance Fee : $0
  • Opening Bonus : $500, provided you spend $3,000
  • APR : Upto 21%
  • Rewards : Joining bonus, cashback, rewards points. 

Eligibility Criteria : 

  • Credit Score of more than 750
  • Well settled business

For more information visit Business Unlimited page

Discover it Miles : This is a business travel credit card by Discover Bank. There unique feature about this card, you can freeze the card using discover app at any point of time, just in case you misplace it.

  • Annual Maintenance Fee : $0
  • Opening Bonus : Double the miles earned by you in the end of the first year 
    • APR : Upto 25%, however, 0% for the first 14 months
  • Rewards : 1.5 miles for every dollar spent

Eligibility Criteria : 

  • Outstanding credit history
  • Well established business

For more information visit Discover it Miles page

Pros and Cons of Small Business Credit Cards

Before applying for a business credit card you should know the consequences, advantages and disadvantages. We went through hundreds of complaints, reviews and suggestions by users, these are the few points to keep in mind.

  1. Credit cards can be assets or liabilities, it depends on the user. If you use it smartly and pay in full before due date it can be considered as assets. However, if you keep on paying the minimum due and miss the due date, it will result in unwanted interest on balance, financial charges and late fees.
  2. Consumer Financial Protection Bureau passed an act which is not applicable for business credit card users. The benefit consists of capped interest rate, which means the interest rates can change at any point of time for business cards. Also, only negative account history is reported to the credit bureaus, so, you won't be able to improve credit history doesn't matter how regular you are in making payment.
  3. The positive side of small business credit cards are credit limit, cashback and reward points. Generally, you get high credit limit and ample of other features. When you make a purchase related to business such as equipment, office furniture, booking a flight, etc you get a good chunk of cashback or reward points which can be remitted.
  4. Business credit cards are linked with the card owner, any debt on the card is the liability of the individual and not the business. In simple words, any negative history, debts, etc will be reflected in your credit history. 

Should I get a Business Credit Card?

It depends on many factors, here is a list of points that can be considered. You should get one if

  1. Your business make lots of business purchases such as office supply, hotel and flight booking, etc.
  2. Your business fall short of cash occasionally
  3. You are planning for a small business loan which will attract high interest rate.

Points to be noted while getting a new business credit card :

  1. Spending : Sign up bonus rewards points and cashback is applicable when the minimum spending is done for eligible purchase and not on all transactions, such as cash withdrawal, balance transfer, etc. Also, the purchase should be done before the expiry date.
  2. Charge cards do not attract any APR, but you need to make payment in full for every generated statements.
  3. Not all cards come for free, some are free for the first year and from second year onward you need to pay annual maintenance fee. 

 

About the Author
Paul William
Author: Paul William
I am an American Economist (Ph.D. MIT). Over 1981-88, I was an Assistant Professor of Economics at the City University of New Work. I have also assisted the Republic Government of USA I have worked in several countries in Europe and Africa as a consultant. I have also been a consultant for a variety of U.S. agencies. These include the D.C. Public Service Commission, the D.C. Department of Energy and Wind and Solar Energy California.

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