Whether you own a large company or are working as an independent contractor, there are a wide variety of reasons you may need a business credit card.
It can be difficult to manage your finances, especially when they’re all mixed in with each other! Business credit cards offer an easier way to keep your business and personal finances separate.
A business credit card can also offer many benefits and rewards, on top of helping you to organize your expenses.
If you want to find out if a business credit is right for you – and what having one could do for you and your business – continue reading below!
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Best Business Credit Cards
- The Business Platinum Card® from American Express: 120,000 bonus points
- Ink Business Unlimited® Credit Card: $900 bonus
- World of Hyatt Business Credit Card: 60,000 bonus points
- Ink Business Cash® Credit Card: $900 bonus
- The Blue Business® Plus Credit Card from American Express: 15,000 bonus points
- Capital One Spark Cash Select - $500 Cash Bonus: $500 bonus
- Capital One Spark Cash Plus: up to $1000 bonus
1. The Business Platinum Card® from American Express
The Business Platinum Card® from American Express comes with a new cardmember offer that can see you earn 120,000 Membership Rewards® Points after spending $15,000 within the first three months.
You also get a whole host of other annual perks including up to $400 back per year toward U.S. purchases with Dell Technologies, up to $150 back per year for select business subscription purchases with Adobe, a $200 airline fee credit and more! Enrollment required.
This is in addition to the lounge access and 5x points on airline and hotel purchases through amextravel.com. Terms Apply. Keep in mind, these perks come at a price, as there's a $695 annual fee.
Plus, use your Membership Rewards to Pay with Points for a first class or business class flight with any airline available through American Express Travel and you receive 35% of the points back. Or get 35% of the points back when you book a flight in any class with your pre-selected qualifying airline. *up to 1 million points back per calendar year.
The American Express Business Platinum Card comes with a hefty annual fee, but the luxury card is well worth it for businesses that travel frequently and spend big, with high rewards, credits, and elite hotel and lounge benefits.
The Business Platinum Card® from American Express - 120,000 bonus points
The The Business Platinum Card® from American Express offer requires you to make purchases using the account's card in order to earn the 120,000 bonus points. Full requirements to receive this bonus are:
- Apply for The Business Platinum Card® from American Express using the link below.
- Within 3 months, spend $15,000 using your new card.
- Bonus will be credited within 8-12 weeks of meeting the requirements in the form of Membership Rewards points.
Learn more about the The Business Platinum Card® from American Express 120,000 bonus points offer
2. Ink Business Unlimited® Credit Card
In addition to the other card perks like cash back and no annual fee, Chase is offering a $900 bonus to new Ink Business Unlimited® cardholders.
They've lowered the spending threshold and raised the bonus amount in their BEST offer ever on this card!
The Ink Business Unlimited Card from Chase offers steady cashback across all categories, so you don’t have to worry about tracking bonus categories or spending caps. It’s a great option for earning modest rewards with a welcome bonus and a host of ongoing incentives for applicants.
Ink Business Unlimited® Credit Card - $900 bonus
The Ink Business Unlimited® Credit Card offer requires you to make purchases using the account's card in order to earn the $900 bonus. Full requirements to receive this bonus are:
- Apply for a new Ink Business Unlimited® credit card using the link below.
- Within 3 months, spend $6,000 using your new card.
- Bonus will be credited within 6 to 8 weeks in the form of 90,000 points, which can be redeemed for $900 cash.
Learn more about the Ink Business Unlimited® Credit Card $900 bonus offer
3. World of Hyatt Business Credit Card
The World of Hyatt Business credit card is a relatively new co-branded business card from Chase and Hyatt, and they're offering 60,000 bonus points to new cardholders.
Unfortunately, this is down from their previous offer of 75,000 points.
That said, 60,000 points is still enough to cover the cost of up to 12 nights at a category 1 hotel, and the spend requirement was also reduced to reflect the lower reward – from $7,500 to $5,000.
Plus, this is in addition to the other great perks of the card (jump below to read more). Keep in mind, however, that the card has a $199 annual fee which is not waived in the first year (unlike many other annual-fee cards) – so factor that in accordingly.
If you’re partial to Hyatt properties and your business takes you on the road often, the World of Hyatt Business Card from Chase should be on your radar as a tool to help you save and work your way up to elite status. You’ll also enjoy competitive rewards and exclusive perks.
World of Hyatt Business Credit Card - 60,000 bonus points
The World of Hyatt Business Credit Card offer requires you to make purchases using the account's card in order to earn the 60,000 bonus points. Full requirements to receive this bonus are:
- Apply for a new World of Hyatt Business credit card using the link below.
- Within 3 months, spend $5,000 using your new card.
- Bonus points will be credited to your World of Hyatt account within 6 to 8 weeks.
Learn more about the World of Hyatt Business Credit Card 60,000 bonus points offer
4. Ink Business Cash® Credit Card
In addition to the other card perks like cash back and no annual fee, Chase is offering a $900 bonus to new Ink Business Cash® cardholders.
They've lowered the spending threshold and raised the bonus amount in their BEST offer ever on this card!
The Chase Ink Business Cash Card is a great rewards card for small business owners, especially if you rack up a lot of telecom and office supply purchases. Since the card earns Chase Ultimate Rewards, you can redeem them a number of ways, making the fee-free card even more appealing.
Ink Business Cash® Credit Card - $900 bonus
The Ink Business Cash® Credit Card offer requires you to make purchases using the account's card in order to earn the $900 bonus. Full requirements to receive this bonus are:
- Apply for a new Ink Business Cash® credit card using the link below.
- Within 3 months, spend $6,000 using your new card.
- Bonus will be credited within 6 to 8 weeks in the form of 90,000 points, which can be redeemed for $900 cash.
Learn more about the Ink Business Cash® Credit Card $900 bonus offer
5. The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express comes with a new cardmember offer that can see you earn 15,000 Membership Rewards® points after spending $3,000 within the first three months on eligible purchases.
You'll also earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. (*terms apply)
The Blue Business Plus Card from American Express is a great pick for smaller business owners looking for a balance of affordability and benefits, with solid rewards and a range of business perks. Just note that there is a rewards spending cap, which may not be the best fit for larger businesses with bigger budgets.
The Blue Business® Plus Credit Card from American Express - 15,000 bonus points
The The Blue Business® Plus Credit Card from American Express offer requires you to make purchases using the account's card in order to earn the 15,000 bonus points. Full requirements to receive this bonus are:
- Apply for The Blue Business® Plus Credit Card from American Express using the link below.
- Within 3 months, spend $3,000 using your new card.
- Bonus will be credited within 8-12 weeks of meeting the requirements in the form of Membership Rewards® Points.
Learn more about the The Blue Business® Plus Credit Card from American Express 15,000 bonus points offer
6. Capital One Spark Cash Select - $500 Cash Bonus
If you're in the market for a zero-annual-fee business credit card that offers solid cash back on all purchases and elevated earnings on hotel and rental car purchases, check out Capital One Spark Select from Capital One.
This offer lets new cardholders earn a one-time $500 bonus, in addition to earning unlimited 1.5% cash back for your business on every purchase with no limits or category restrictions and unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
To earn the bonus, you'll need to spend $4,500 using your new card – and you'll have 3 months to meet that requirement.
Like most credit card promotions from Capital One, you'll also need to be a completely new cardholder – previous account holders aren't eligible.
The Capital One Spark Cash Select Card is a good fit for small business owners who want a straightforward hassle-free rewards card with no cost and some nice bookkeeping benefits. It isn't the best pick for big spenders, who could earn higher rewards in bonus categories—with an annual fee—elsewhere.
Capital One Spark Cash Select - $500 Cash Bonus - $500 bonus
The Capital One Spark Cash Select - $500 Cash Bonus offer requires you to make purchases using the account's card in order to earn the $500 bonus. Full requirements to receive this bonus are:
- Apply for a new Capital One Spark Select credit card using the link below.
- Within 3 months, spend $4,500 using your new card.
- Bonus will be applied to your rewards balance within two billing cycles after meeting the requirements.
Learn more about the Capital One Spark Cash Select - $500 Cash Bonus $500 bonus offer
7. Capital One Spark Cash Plus
If you're in the market for a low-annual-fee business credit card that offers solid cash back on all purchases and elevated earnings on hotel and rental car purchases, check out Capital One Spark Cash Plus from Capital One.
This offer lets new cardholders earn a one-time bonus of either $500 or $1,000 (depending on how much you can spend), in addition to earning unlimited 2.0% cash back for your business on every purchase with no limits or category restrictions and unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
What's more? As if that isn't enough, this card will keep rewarding you with a $200 cash bonus every year you spend $200,000, which is more than enough to cover the annual fee!
Like most credit card promotions from Capital One, you'll also need to be a completely new cardholder – previous account holders aren't eligible.
The Capital One Spark Cash Plus Card is a good fit for small business owners who want a straightforward hassle-free rewards card and some nice bookkeeping benefits. It isn’t the best pick for big spenders, who could earn higher rewards in bonus categories—with an annual fee—elsewhere.
Capital One Spark Cash Plus - up to $1000 bonus
The Capital One Spark Cash Plus offer requires you to make purchases using the account's card in order to earn the $1000 bonus. Full requirements to receive this bonus are:
- Open a new Capital One Spark Cash Plus credit card using the link below.
- Within the first 3 months, spend $5,000, earn $500.
- Within the first 6 months, spend a total of $50,000, earn an additional $500.
- Going forward, in any calendar year that you spend a total of $200,000 or more, earn $200.
Learn more about the Capital One Spark Cash Plus $1000 bonus offer
What is a Business Credit Card?
A business credit card is similar to a regular credit card, except that it’s not intended for personal use. Generally, a business credit card will be used for (and will help to track) business expenses.
Due to their commercial rather than personal nature, they may have higher limits than a standard credit card.
How Do Business Credit Cards Work?
A business credit card works on the same principle as a personal credit card, providing access to a line of credit that allows you to make purchases for your business.
You will typically be able to borrow up to a certain limit from your credit company to do this, and won’t receive any interest charges as long as you pay off the card each month.
Business Credit Cards vs Personal Credit Cards
There are plenty of main differences between personal cards and business cards. Personal cards are designed to handle everyday household costs such as groceries and appliances for your home.
Business credit cards are designed explicitly to make purchases for the business, and for business-related expenses. Buying personal items on a business credit card may be considered misuse.
The points of difference between a business credit card compared to their personal counterparts are:
- Higher spending limits on business cards
- Promotional sign-up APR bonuses for a period of time
- Separate lines of credit for business and personal purchases
- Further company-specific perks and bonuses on business cards
Types of Business Credit Cards
There are many different options of business credit cards available for use, but what are the differences between them?
Small Business Cards
If you’re looking for a business credit card for your small business, take a look at what’s on offer from banks in your area.
Most will offer a special low-cost credit card designed with small businesses in mind.
They give the holder access to substantial (but not enormous) amounts of credit – the amount made available to you is based on your business finances.
Corporate Credit Cards
A corporate credit card is usually reserved for a larger business, with revenues in the millions of dollars. Your chosen bank may also offer additional perks with a corporate credit card.
Low-Rate Credit Cards
These are cards that have low-interest rates for any purchases you may make for your business. It can make paying off large expenses a lot easier.
These cards are useful for businesses expecting more income in the future.
Rewards Credit Cards
Rewards cards can come from a variety of credit card providers.
The one you choose will give you certain rewards in return for using their card to make business purchases. Rewards may include points in loyalty programs, cash back, or gift cards.
Typically, you’ll choose a card that’s earning and rewards structure will benefit your business the most. For instance, a card that’s partnered with an airline may be the best choice for someone who travels frequently. For others, fuel discounts may be the better option.
There are an immense variety of rewards credit cards on offer, so shop around carefully before committing to any.
Low-Fee Credit Cards
This type of card has very minimal or even no annual fees. A card like this may work especially well for a small business with minimal profits.
Low-fee credit cards are a good bet for businesses starting out in an uncertain market- instead of taking a gamble on a high-fee card, you can play it safe in case you don’t see a swift ROI.
These cards may also suit seasonal businesses with fluctuating revenue streams.
Who Needs A Business Credit Card?
More people are eligible for a business credit card than you may think.
Of course, they’re typically used by larger corporations and small businesses, but even independent contractors may be eligible for a business credit card.
A business credit card is best for anyone with business income who wants access to a separate business card with welcome bonuses, business-related perks, and higher credit limits.
Business credit cards are also great for your employees, letting them charge business expenses to the business instead of on their personal cards.
In short, whether you’re a self-employed contractor or the CEO of a corporation, business credit cards enable you (and other businesses) to treat your business as an entity- rather than an extension of yourself.
If you’re still wondering just who a business credit card is best for, take a look at our methods of comparison below. You’ll learn what each feature of a business credit card is used for, and how it can impact your business expenditure.
How to Compare Business Credit Cards
There are a few different aspects by which business credit cards can be compared:
Rewards
Credit card companies offer rewards as a way to incentivize spending. The more you spend, the more they make.
Rather than getting caught up in spending, it’s important to carefully examine which rewards, if any, can contribute to your success.
Choose a business credit card that offers rewards relevant to your business. If there are none, many cards offer lines of credit with no reward scheme for those who want to keep their spending absolutely minimal.
APR
The Annual Percentage Rate (APR) is the fee that is charged for not paying the card off properly each month.
Everything else being equal, cards with a low APR are recommended just in case there comes a time when you can’t pay it off in full.
Annual Fee
There are some zero-fee cards available, but many will come with an annual fee. The fees will vary and some will be less than others, so it’s definitely something that you’ll want to take into consideration.
Cards with higher annual fees often offer the rewards necessary to justify their fees. If those rewards (such as points or cash back) are of no use to your business, a card with lower annual fees –- or none at all –- may suit you better.
Various Charges
When using a business credit card, you may encounter certain charges imposed by the card provider. Charges could include a late payment fee, a fee for exceeding your limit, or for using the card in a different country.
Every company will have different fees, so you should make sure to compare before deciding on an option. As with all credit card specifications, there will be one out there tailored to your needs.
Decide what charges you are likely to incur during the course of business, and choose a card accordingly.
How to Choose The Best Credit Card for Your Business
Research
It’s vital to learn all of the available information on how each business credit card works so that you can make an informed decision.
Do your research into multiple different types of cards and their providers, as well as into how the cards themselves work.
Check Your Purchase History
Take a look at your own business and all of the main purchases you’ve been making over the past 6-12 months.
Doing so will give you a snapshot of what you’re spending money on, and you’ll be able to see what sort of card rewards you would benefit from the most so that you can choose a program accordingly.
Consider an Annual Fee
You may be deterred by the cards that come with an annual fee, but they shouldn’t scare you off at the outset.
The higher the fee, the more likely a card is to offer benefits, such as higher points-earning or cash back, credits with various retailers, or, travel perks.
Cards with annual fees often have larger rewards, better earning rates, and much better bonuses when you sign up for them. The fee may just be worth all of these extras when you work it all out properly!
Look at the Fine Print
If you’re having trouble deciding between a select few cards, sometimes it’s the small things that can seal the deal.
Each different card will have a few smaller perks which might help you in your day-to-day life, or even with a specific purchase you’ve been meaning to make!
Examples of this may include 0% fees for the first few months, rideshare service and dining credits, or even access to special perks with rental car companies or other travel providers.
How to Maximize Business Credit Card Benefits
To ensure you are getting the best use out of your business credit card instead of becoming mired in debt, here are some card usage best practices you might like to implement:
- If you are giving cards to individual employees to use for business purchases, set individual limits on how much each employee can spend. Setting these limits will help you avoid getting into more debt than you can afford to pay off, eliminating all potential for rogue employee spending.
- When doing your taxes, talk to your accountant about deducting any annual fees and interest you paid from your taxes.
- Use your card transactions as a reference for business expenses you might be able to deduct on your tax return. These can include travel, equipment, accommodation, or any other business expenses purchased with the card.
- If you’re ever low on funds, you can carefully use your card to tide you over. This will mean that there’s no awkward panic period where you can’t afford to run your business before you get paid next! The card should not be relied upon for this, of course, but things don’t always go to plan. When they don’t, access to a good line of credit may be what keeps your business afloat during a time of financial crisis.
- Choose a card with a great signup bonus and use that first period of time to fund any major projects or products you’ve been holding off on for a while.
Take advantage of the offers you receive from your card provider- they will take note, and using any bonus wisely may entitle you to further bonuses in the future as well.
Pros and Cons of Business Credit Cards
Pros
- Easier and quicker to attain than a business loan
- Perks and rewards for spending in certain business categories
- Separated business and personal expenses
- An organized cash flow to make your business finances more straightforward
Cons
- The risk of being taken advantage of by any approved employees
- As with any credit card, the opportunity to overspend
- Personal credit may be impacted by business card use
Frequently Asked Questions
Can I apply for a business credit card without a business?
You don’t need to be in charge of an LLC to open a business credit card. Sole proprietors, independent contractors, freelancers, or people with a side gig can often get a business credit card to handle business expenses.
There are plenty of non-traditional ways of making money that may qualify you for a business credit card. Some examples are freelance writing and editing, flipping antique furniture, babysitting regularly, and much more!
Do I need an employer identification number to get a small business credit card?
There are many card options that will ask for your employer identification number (EIN) in your application, but some will only require a social security number, so do your research into the cards you’re interested in to see what’s required to apply.
Is your application for a business credit card based on your personal credit score?
Your application for a business credit card will most likely be based on your personal credit score. It’s this score that the card issuers will use to check whether they’re willing to loan you money on a business card or not.
Those who have used personal credit cards responsibly in the past will be the favored candidates for business credit cards.
Those who have lower credit scores may find getting certain cards difficult, but there are options available at most points along the credit spectrum.
Does a business credit card affect your personal credit?
Business credit cards can affect your personal credit. This may happen in a few different ways.
The first way your personal credit may be affected is when you apply for a business card. When the issuer checks your personal credit, it will leave a hard inquiry on your credit report, resulting in a temporary negative effect on your score.
If there is negative activity on your business card report, this could end up on your personal credit report as well.
The issuer may choose to disclose any debt or incomplete payments to your personal credit card company, and this will adversely impact your personal score.
What is the best credit card for start-ups or new businesses?
To decide what is the best credit card for start-ups or new businesses, see our recommended selection above!
A general rule of thumb: Cards with low annual fees and APRs are good for new businesses because they do not require repayment straight away and are set up at a low cost.
How do I check my business credit score?
There are three main options for checking your business credit score: Equifax, Dun & Bradstreet, and Experian.
Reports you get from these three business credit bureaus may come with a cost, depending on what you are doing with the report.
- Equifax: Equifax provides multiple different scores such as failure risk, credit risk, and payment index. This report can come at no cost, but only if you’re applying for business credit like a credit card or a loan.
- Dun & Bradstreet: Dun & Bradstreet requires a DUNS number which can take around a month to acquire. Checking your Paydex score along with other ratings is free with their CreditSignal package, however, they do offer upgraded subscriptions for around $40 a month.
- Experian: Experian offers your business credit score, payments trends, account histories, and financial stability risk ratings within their report. Purchasing a CreditScore report through this business credit bureau is simple. You can get yours from their website at $39.95 per report, or alternatively subscribe to an annual, unlimited-access plan.
Why does your business credit score matter?
Essentially, a good business credit score shows potential lenders that your business is worth investing in. This gives you access to better financing, leading to more growth in the future.
You can secure business loans and money from lenders much more easily if you have a good credit score, as it means you are far more likely to actually deliver returns.
Besides that, your good credit score shows other potential partners and businesses that you are worth working with.
If you need to purchase things on credit or loan, other businesses are more likely to trust you with their merchandise if you have an excellent credit score.
A business credit score is calculated on a different scale from personal credit scores. Business credit scores are ranked on a scale of 0-100, with a credit in the 80-100 range being the best score you could have.
You can do a few things to make your score better if it isn’t within that top range:
- Set up automatic payments for your bills to ensure they get paid on time
- Try to keep your balances for credit usage under 15% of your spending limit
- Fix any credit report errors immediately by checking your credit report thoroughly
