Best Business Credit Cards 2025
Business owners are aware that every dollar is important. Using a credit card can be a beneficial method for maximizing business transactions.
Numerous advantages may be available with business credit cards. These include loyalty points, rewards or cash back, travel insurance, and expense management. Finding out which of those factors are important for your company and deciding what you value most can help you locate the ideal business card for you. Rewards, cash back, or assistance in establishing credit.
Best Business Credit Cards
Ink Business Unlimited® Credit Card: Featured Partner Offer
The Blue Business® Plus Credit Card from American Express: Best Overall, Best Business Flexible Rewards and Best 0% APR Business Card
Ink Business Unlimited® Credit Card: Best Cash Back Business Card
American Express® Business Gold Card: Best Business Card for Automatically Enhanced Earnings
World of Hyatt Business Credit Card: Best Hotel Card for Businesses
United Club℠ Business card *: Best Airline Card for Businesses
Chase Ink Business Premier *: Best Flat-Rate Cash Back Business Card
Brex 30 Card: Best Business Card Without a Personal Guarantee
Ink Business Preferred® Credit Card: Best High Limit Business Card
Wells Fargo Business Elite Signature Card *: Best Business Card for Low Interest Rate
Ink Business Cash® Credit Card: Best No Annual Fee Business Card for Category Bonuses
Amazon Business Prime American Express Card *: Best Business Card for Amazon
American Express Blue Business Cash™ Card: Best Cash Back for Small Business
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best Balance Transfer Business Card
U.S. Bank Business Leverage® Visa Signature® Card: Best for Varied Expenses
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card: Best Business Card for Bank of America Preferred Rewards Customers
United℠ Business Card: Best Mid-Range Airline Business Card
Wyndham Rewards® Earner℠ Business Card *: Best Business Card for Road Warriors
The Hilton Honors American Express Business Card: Best Hotel Business Card for Global Reach
Delta SkyMiles® Reserve Business American Express Card: Best Business Card for Lounge Access
The Blue Business® Plus Credit Card from American Express
The American Express Blue Business® Plus Credit Card (Terms apply. Check out the prices.) is a little special because there is no yearly cost to earn Membership Rewards points. A new firm can use the card's introductory APR offer to pay for inventory or other expenses up front while gaining some extra time to pay the balance in full without interest.
Rewards: Up to $50,000 in annual expenditures, earn 2 Membership Rewards points for every dollar spent on standard business expenses like office supplies or client dinners; after that, earn 1 point for every dollar spent on any other purchases.
Offer: After making $3,000 in eligible purchases with the card in the first three months of card membership, earn 15,000 Membership Rewards® points.
No yearly charge is required.
Other features and advantages of this card include a 12-month introductory APR of 0% on purchases followed by a variable rate of 14.74 percent to 22.74 percent. A fee of $5 or 3%, whichever is higher, is charged for balance transfers that aren't finished within 60 days of the account being opened. This can be alluring if you wish to reduce your interest costs with a reduced APR, but after the promotional period has passed, carrying a balance won't be a wise decision.
The fact that you can earn additional Membership Rewards® points for every dollar spent on standard business expenses like office supplies or client dinners is something we like. Consider the American Express Blue Business CashTM Card if you want a similar card but prefer cash back than points. A card without a cap might be a better option, though, if your company consistently spends more than $50,000 annually.
Ink Business Unlimited® Credit Card
As a cash-back credit card, the Chase Ink Business Unlimited® Credit Card is promoted as having a high rate of cash back. Rewards are treated as transferable Ultimate Rewards® points when used in conjunction with a premium Chase Ultimate Rewards card, making this card even more valuable. If you want a clear earnings rate over bonus categories, the Unlimited beats the Ink Preferred—as long as you match it with a card that offers transferable rewards.
Gain 1.5 percent cash back returns on any purchases made for business.
Earn $750 in bonus cash after spending $7,500 within the first three months of creating your account.
No yearly charge
Other Advantages and Drawbacks: If you only need one business card, the Chase Ink Unlimited rewards are a great option because they are so simple to obtain. Having said that, you must combine this card with another Ultimate Rewards-earning card, such as the Ink Business Preferred® Credit Card, the Chase Sapphire Preferred® Card, or the Chase Sapphire Reserve®, in order to maximise its potential.
Another card can be more advantageous if all you're interested in is the greatest cash back rate.
American Express® Business Gold Card
The Business Gold American Express® Card (Terms apply. (See rates and fees.) is a good choice for entrepreneurs who want to optimise their profits but don't want to devote a lot of time to the process. Every billing cycle, American Express automatically offers you significant rewards on the first two categories from a pre-selected list that you spend money on. The American Express Business Gold Card conducts the research for you when it comes to the several cards that offer quarterly or recurring bonus categories.
Reward: Earn four Membership Rewards® points for every dollar spent in the two categories where businesses typically spend the most money each month. For other purchases, 1 point is awarded for every $1 spent. For the initial $150,000 in earnings, there is a 4 point per dollar earning rate.
Offer: After making $10,000 in eligible purchases during the first three months of opening an account, you will receive 70,000 Membership Rewards® points.
$295 per year
Other Perks and Drawbacks: The Amex Business Gold offers a rebate of 25% of the points you use when you book qualified flights with American Express Travel, up to a maximum of 250,000 points back each calendar year. This is a noteworthy travel benefit. Additionally, users of American Express receive travel and transit benefits like free international transactions, emergency help, and baggage insurance*.
American Express also offers one of the most comprehensive benefit packages available, including purchase protection* and extended warranty coverage*. The Business Gold card has no predetermined spending caps and allows cardholders to pay down amounts over time with interest.
World of Hyatt Business Credit Card
Due to its blend of worthwhile benefits and alluring earnings rates, the World of Hyatt Business Credit Card takes the top spot in our list of business hotel cards. With this card, you may easily earn rewards more quickly on paid Hyatt stays as well as on any other purchases.
Earn 4 points for every $1 spent at Hyatt hotels, 2 points for every $1 spent in the cardholder's top three spending categories each quarter through December 31, 2012, followed by the top two categories each quarter, 2 points for every $1 spent on fitness club and gym memberships, and 1 point for every $1 spent on all other purchases.
Earn 60,000 bonus points after making $5,000 in purchases during the first three months of account opening with the welcome offer.
$199 per year
Other Advantages and Drawbacks: With the World of Hyatt Business Credit Card, it's simple to accumulate rewards that may be redeemed for hotel stays. The card gives a $100 refund (redeemable as $50 twice a year) on Hyatt purchases as well as a bonus for using the card $50,000 a year: 10% of redeemed points will be given back for the rest of the year on transactions up to 200,000 points.
The drawback of Hyatt is that it does not have a presence in many smaller marketplaces and vast regions of the world. There are numerous locations where a hotel from the Hyatt portfolio is not to be found.
United Club℠ Business card *
A somewhat different earning scheme distinguishes the United ClubSM Business card from the personal United Club Infinite Card. If you already pay for a United Club membership, the lounge access and other benefits clearly outweigh the annual charge. This card might not be suitable for you if your company is not close to a United hub.
Rewards: Earn 2 miles for every $1 spent on United purchases, including tickets, Economy Plus®, onboard meals, drinks, and Wi-Fi, as well as other United fees. Earn 2 miles for every $1 spent on Inside Access purchases made through Chase.
Earn 75,000 bonus miles after making $5,000 in purchases within the first three months that your account is open with this welcome offer.
Other Benefits and Drawbacks: The United Club℠ Business card* has pumped-up benefits, but charges a steep annual fee. Besides United Club membership, the Business Club card offers Premier Access at the airport, space-available upgrades on award tickets, your free first and second checked bags, 25% off in-flight purchases when you pay with your card and Avis President’s Club.
This card also comes with a suite of travel and purchase protections including trip cancellation and interruption insurance, trip delay coverage, lost and damaged baggage insurance, delayed baggage coverage, rental car insurance coverage, purchase protection, return protection and extended warranty.
Chase Ink Business Premier *
Those who routinely make purchases of $5,000 or more may find the rewards potential on the Chase Ink Business Premier* hard to beat. You’ll also earn big rewards for travel booked through the Chase Ultimate Rewards travel center.
Rewards: Earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 2.5% cash back on every purchase of $5,000 or more, and 2% cash back on every other purchase
Welcome Offer: Earn $1,000 cash back after spending $10,000 on purchases in the first 3 months from account opening
Annual Fee: $195
Other Benefits and Drawbacks: The card offers bountiful flat-rate rewards, especially for big spenders. But those who want to maximize their redemption values by combining the earnings on this card with another premium Chase Ultimate Rewards card are out of luck. You cannot transfer rewards from this card to another.
Brex 30 Card
One of the rare business cards that doesn’t require a personal guarantee, the Brex 30 Card is an option if you have significant assets. You’ll need to meet their size and revenue criteria in order to be eligible.
Rewards: Earn 8 points per dollar on rideshare, 5 points per dollar on travel booked through Brex Travel, 4 points per dollar on restaurants, 3 points per dollar on recurring software and 1 point per dollar on everything else.
Welcome Offer: Earn 30,000 points after spending $3,500, or 50,000 points after spending $9,000 within 30 days.
Annual Fee: $0
Other Benefits and Drawbacks: The Brex 30 Card does not require a personal guarantee, security deposit or credit check to apply if you have significant enough assets. Just remember that it’s a charge card rather than a credit card, meaning that the balance is due in full and on time each billing cycle.
Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card offers the ability to earn valuable Chase Ultimate Rewards points at compelling rates and an impressive bonus offer, making it a top pick for business travel. Ultimate Rewards are valuable because they are so flexible. You can redeem directly for travel at 1.25 cents per point through Chase or transfer to over a dozen loyalty programs including United, Southwest and Hyatt.
Rewards: Earn 3 points per dollar on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per dollar on all other purchases.
Welcome Offer: Earn 100,000 points after you spend $15,000 on purchases in the first 3 months from account opening.
Annual Fee: $95
Other Benefits and Drawbacks: The “select business categories” include shipping, internet, cable and phone, social media and search engine advertising and travel. If your business does a lot of online advertising, this card will rake in the rewards.
Ultimate Rewards from the Chase Ink Preferred can be combined with personal Ultimate Rewards points to help grow balances quickly.
This card also offers cell phone insurance limited to three claims of up to $600 each per year, subject to a $25 deductible. This card also offers trip cancellation and interruption insurance, primary auto rental insurance when you rent for business purposes (secondary if you’re renting for personal reasons), purchase protection and extended warranty coverage.
Wells Fargo Business Elite Signature Card *
The Wells Fargo Business Elite Signature Card* was created with big spenders in mind and can provide up to 200 employee cards with each account. Best of all, the 8.74% variable APR on purchases is worthy of a second look if you need to carry a balance past an introductory period.
Rewards: 1.5% cash back per dollar spent or earn 1 point per dollar spent and receive 5,000 bonus points when the company spend is $10,000 or more in any monthly billing period
Welcome Offer: $1,000 one-time cash back bonus or 100,000 bonus points after spending $15,000 in the first three months of account open date
Annual Fee: $125 annual fee (waived first year)
Other Benefits and Drawbacks: The Wells Fargo Business Elite Signature Card* charges an annual fee of $125 annual fee (waived first year) but the rewards and interest rate savings a cardholder can gain might be well worth it. An annual $100 credit toward travel incidentals nearly covers the cost of membership fees alone.
There’s one major catch to the card: it’s intended for businesses with annual sales of $1 million or more so it won’t be a good fit for some companies.
Ink Business Cash® Credit Card
If you want a no-annual-fee card that allows you to earn valuable rewards, Ink Business Cash® Credit Card is a good option. This card is marketed as a cash-back card, but can be paired with a premium Chase Ultimate Rewards-earning card to unlock more value The card also offers protections that you don’t often see on a no-annual-fee card including primary car rental insurance for your business and purchase protection.
Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year and 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases.
Welcome Offer: Earn $750 bonus cash back after spending $7,500 on purchases in the first 3 months from account opening.
Annual Fee: $0
Other Benefits and Drawbacks: The higher rewards rates have an annual limit which may not be ideal for some businesses. While the card is marketed as a cash-back card, it actually earns Ultimate Rewards. Ultimate Rewards can’t be combined with the personal cards Chase Sapphire Preferred® Card or Chase Sapphire Reserve® points in order to utilize airline partner transfers where they can be worth more than one cent each.
If you’re just looking for one card, the Ink Business Cash Card could still be a good option if you regularly spend in the bonus categories but don’t think you’ll exceed the annual cap. If that doesn’t sound like you, look to another option.
Amazon Business Prime American Express Card *
The Amazon Business Prime American Express Card* offers the unusual ability to either earn increased rewards or enjoy an extended repayment period of up to 90 days on select Amazon purchases up to $120,000 per year. You can change your preference as often as you wish in order to maximize your rewards and/or interest savings.
Rewards: Earn 5% back in rewards or 90 Days Terms on eligible U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market with an eligible Prime membership. The 5% reward rate applies to the first $120,000 in purchases each calendar year. Earn 2% at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers and 1% on other purchases.
Welcome Offer: Earn Amazon.com gift card upon approval for the Amazon Business Prime American Express Card .
Annual Fee: $0
Other Benefits and Drawbacks: An Amazon Business Prime membership is needed to apply for this card. Prices for a Business Prime membership start at $69 a year for one user up to $10,099 a year for an enterprise membership. Be sure to do the math to make sure the Prime membership works for you.
American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card (Terms apply, see rates and fees) is a set-and-forget business credit card that lets you earn rewards without an annual fee. Consider this card if you want to earn without worrying about categories and you typically spend $50,000 or less a year.
Rewards: Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.
Welcome Offer: Earn a $250 statement credit after making $3,000 in purchases within the first 3 months of account opening.
Annual Fee: No annual fee
Other Benefits and Drawbacks: A business that routinely spends more than $50,000 in a year would fare better with a card that doesn’t cap earnings rates. If you want a similar card but with more flexible rewards than cash, consider the The Blue Business® Plus Credit Card from American Express which is this card’s Membership Rewards-earning sibling.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is one of few business cards offering a balance transfer promotional rate. Making the card even more appealing are cash-back rewards and welcome offer opportunities.
Rewards: Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants and 1% cash back on all other eligible net purchases.
Welcome Offer: Earn $500 in cash back after spending $4,500 in the first 150 days of opening an account.
Annual Fee: $0
Other Benefits and Drawbacks: The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® offers a 0% introductory APR on purchase and balance transfers for 15 billing cycles, followed by a regular variable APR of 15.49% - 24.49%. There's a balance transfer of either 3% of the amount of each transfer or $5 minimum, whichever is greater, adding to more possible savings. With free employee cards and an annual software credit, this card could be worth holding onto even after the APR period expires.
U.S. Bank Business Leverage® Visa Signature® Card
If your business expenses vary from month to month, look to a card like the U.S. Bank Business Leverage® Visa Signature® Card, which offers elevated rewards in your top two spending categories, from a whopping 48 choices, meaning many types of expenses will qualify. With no effort on your part, you’ll earn more on what you spend each month.
Rewards: Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 2% back in the top two categories of each month and 1% back per dollar on all other eligible purchases.
Welcome Offer: Earn $750 in rewards after spending $7,500 in eligible purchases within the first 120 days of opening your account.
Annual Fee: $0 introductory annual fee for the first 12 months, after that $95 per year
Other Benefits and Drawbacks: There’s no need to opt-in to bonus categories or track where you’re spending the most since the card will automatically adjust to how you spend. If your business uses U.S. Bank to process credit card payments from your customers you can earn additional points from those transactions. However, if you consistently spend a lot in more than just two categories, you’ll likely fare better with a flat-rate rewards card.
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
We aren’t highlighting the bank in many of our reviews, but the Bank of America’s Preferred Rewards program gives the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card a leg up if you live in their ecosystem. With no annual fee and elevated earnings in your choice out of six categories, the card earns elevated cash back for up to $50,000 in combined eligible category spending per year.
Rewards: Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year and 1% thereafter.
Welcome Offer: Earn a $300 statement credit online bonus after making at least $3,000 in net purchases within 90 days of account opening.
Annual Fee: $0
Other Benefits and Drawbacks: The card offers solid earnings for most business owners, but becomes best-in-class for those who qualify for the top tier of the Preferred Rewards program. Depending on the total amount a Preferred Rewards Member has in their qualifying accounts, they can earn 25% to 75% more rewards for each dollar they spend on their Bank of America rewards cards.
United℠ Business Card
The United℠ Business Card has benefits when flying United that outweigh its annual fee and some significant additional perks including a $100 flight credit with qualifying purchases.
Rewards: Earn 2 miles per dollar on United purchases, on dining (including eligible delivery services), at gas stations, office supply stores, and on local transit and commuting and 1 mile per dollar on all other purchases.
Welcome Offer: Earn 75,000 bonus miles after spending $5,000 on purchases in the first 3 months of account opening.
Annual Fee: $0 introductory annual fee for the first year, then $99
Other Benefits and Drawbacks: The United℠ Business Card offers two, one-time United Club passes, one free checked bag for the cardholder and a companion on the same reservation when you use your card to purchase your ticket and a 25% rebate on in-flight purchases. The Business Card goes a step further by offering a $100 travel credit after seven United purchases of $100 or more are made on the card each anniversary year.
Wyndham Rewards® Earner℠ Business Card *
The Wyndham Rewards® Earner℠ Business Card* has unmatched earnings in categories that cater to those who live in their cars. With an industry-leading bonus on gas station purchases and healthy earnings on Wyndham hotel stays, the card is a no-brainer if you are comfortable in the budget hotels that make up the vast majority of Wyndham’s portfolio and spend a lot of time on the road.
Rewards: Earn 8 points per $1 spent on Hotels By Wyndham and gas purchases, 5 points per $1 spent on marketing, advertising and utilities and 1 point per $1 spent on all other purchases.
Welcome Offer: Earn up to 75,000 bonus points, enough for up to 10 free nights at participating properties. Earn 65,000 bonus points after spending $1,000 in the first 90 days, and earn 10,000 bonus points after a purchase is made on an employee card.
Annual Fee: $95
Other Benefits and Drawbacks: With 15,000 anniversary points and a 10% discount on go free rewards at Wyndham hotels, you’ll have access to free nights faster than you can say “Super-8.” Since basic hotels start at 7,500 points per night, it takes less than $1,000 in spending on gas or at Wyndham hotels to earn a free night. That’s an unheard-of rate, as long as you’re not looking for luxury. But if self-parking is your idea of roughing it, the Wyndham card might not be for you.
The Hilton Honors American Express Business Card
Wherever you go, you’ll likely find a Hilton portfolio hotel there. The Hilton Honors American Express Business Card (Terms apply. See rates and fees.) is worth exploring for its complimentary Hilton Gold Status as a cardholder, and you can earn a generous welcome bonus and a high rate of rewards on your eligible spending.
Rewards: Earn 12 Hilton Honors Bonus Points per dollar on eligible purchases at participating hotels and resorts within the Hilton portfolio, 6 points per dollar at U.S. gas stations, on wireless telephone services purchases directly from U.S. service providers, and on U.S. purchases for shipping, U.S. restaurants, on flights booked directly with airlines or with American Express Travel, and on car rentals booked directly from select car rental companies and 3 points per dollar on all other eligible purchases.
Welcome Offer: Earn 130,000 bonus points after spending $3,000 in purchases on the card in the first 3 months of card membership. Plus, earn up to $130 in statement credits on eligible purchases made on the card at any of the Hilton family hotels in the first 12 months of card membership. Offer expires 7/6/2022.
Annual Fee: $95
Other Benefits and Drawbacks: This card can be worth it for the welcome bonus alone, but don’t forget that you’ll also get automatic Hilton Gold Status. This elite status can afford you benefits like late checkout, food and beverage credits or complimentary breakfast, room upgrades based on availability and more. Even if you’re just an occasional Hilton guest, this card could make sense.
You’ll also get 10 complimentary visits to Priority Pass lounges per year once enrolled, which is unusual for a mid-range credit card and can be more than enough to get you into airport lounges if you only travel a few times per year. If you travel more than once per month, however, you may want to consider a travel credit card with a Priority Pass Select membership that includes unlimited visits.
Delta SkyMiles® Reserve Business American Express Card
If you like to travel in style, the Delta SkyMiles® Reserve Business American Express Card (Terms apply. See rates and fees) might be for you. The card offers both Delta and American Express Centurion club access when flying Delta. It also offers Status Boost®, which allows you to earn 15,000 Medallion Qualifying Miles (MQM) after $30,000 of spending on the card up to four times per year.
Rewards: Earn 3 miles per dollar on eligible purchases made directly with Delta and 1 mile per dollar on all other eligible purchases. After spending $150,000 in a calendar year, earn 1.5 miles per dollar on eligible purchases the rest of the year.
Welcome Offer: Earn 110,000 bonus miles after spending $6,000 in purchases in the first 3 months of card membership. Offer ends 8/3/2022.
Annual Fee: $550
Other Benefits and Drawbacks: The Delta SkyMiles® Reserve Business American Express Card carries a hefty fee and offers coveted Centurion Lounge access. Used strategically, the annual domestic ticket companion certificate, which is also good in domestic first class, could offset a large portion of the annual fee. The ability to earn a Medallion Qualification Dollar Waiver (MQD Waiver) with $25,000 of spending on the card (excluding Diamond status) is also a potentially valuable benefit.
Methodology
To create this list, Forbes Advisor analyzed over 100 business credit cards. Our main criteria relates to value: Will any fees you pay for this card be outweighed by the benefits you will receive?
We also evaluated each category of card within its lane, meaning comparing hotel cards to hotel cards, cash back cards to cash back cards, and the like.
Other characteristics taken into consideration while judging each category were accessibility, dollar value of cash back or point rewards, APR, fees and additional benefits or protections offered by the card. Finally, we considered auxiliary features within each category such as elite status or lounge access with travel cards.
To view rates and fees for The Hilton Honors American Express Business Card please visit this page.
To view rates and fees for The Blue Business® Plus Credit Card from American Express please visit this page.
To view rates and fees for American Express Blue Business Cash™ Card please visit this page.
To view rates and fees for American Express® Business Gold Card please visit this page.
To view rates and fees for Delta SkyMiles® Reserve Business American Express Card please visit this page.
What Is a Business Credit Card?
A business credit card is a line of credit issued to a small business or sole proprietorship. They allow business owners to keep their business and personal expenses separate. By doing so, record keeping is easier, especially at tax time.
How do business credit cards work?
Business credit cards operate just like a personal credit card, with the exception that the card may have a different rewards structure or offer different protections.
Types of Business Credit Cards
The two most common types of business credit cards are either small business cards or corporate cards. The cards on this list are small business cards, which can be applied for without establishing a custom financial arrangement.
How to Get a Business Credit Card
When you’re ready to get a business card, gather your Employee Identification Number (EIN) or Social Security Number (SSN), your income information and apply either online or at a bank branch.
How to Get a Business Credit Card Without a Personal Guarantee
Establishing business credit can be difficult, and some cards will require a personal guarantee. This means an individual, usually the one applying for the card on behalf of the company, will be held liable for any balances left unpaid on the card. For individuals who don’t want to be tied to their business account, there are cards available that don’t require a personal guarantee, such as the Brex Visa Commercial Credit Card.
How to Get an Instant Approval Business Credit Card
Most cards that let you apply online will let you know right away if you are approved. Occasionally the bank may want additional information before giving you a credit line but if it’s a “yes”, you’ll usually learn when you apply.
How to Get a Business Credit Card With Bad Personal Credit
For small business cards, your personal credit score is often considered as part of the application process. If you have bad credit, you’ll need to limit the cards you consider to those that are designed for anyone with poor or limited credit history. Business secured cards are the most accessible option for those who can afford the deposit required to secure the card. Other options include improving your credit score before applying or looking for cards that don’t require a personal guarantee.
Who Should Get A Business Credit Card?
Any business that intends to charge purchases should get a business credit card. Keeping personal and business expenses separate is a good rule-of-thumb for accounting purposes. Additionally, getting—and responsibly using—a business credit card helps to build your business credit history which can be useful when applying for future loans or other financing.
How to Compare Business Credit Cards
With the many different types of credit cards available, picking one for a business can be a lengthy process. Prospective cardholders have multiple factors to take into consideration before landing on a best-pick.
Annual Fee
Annual fees often cover membership benefits offered by cards. Prospective cardholders should calculate how much they’ll need to spend in order to accumulate enough rewards or cash back to offset that fee.
Earnings Structure
Some cards have high points per dollar offers, but when it comes to redeeming the points, they fall flat. Be diligent in evaluating each point value and be sure you’re looking past the number of points in favor of what the points will actually get you.
Intro APR
Many cards will offer not only a welcome bonus, but an intro APR. Consider the amount of time that low interest rate applies and make sure you have a plan to pay off any large purchases before the intro APR expires and the card’s regular interest rate applies.
Ongoing APR
If your business needs to carry a balance, looking for a card with low interest rates, or interest-free promotional periods, can save money. Always remember that APRs are determined based on your creditworthiness, so the lowest interest rate presented in the terms and conditions might not be what you’re granted upon approval.
Financing Options
Is the card a charge card or a credit card? A charge card will need to be paid off monthly, while a credit card will allow you to carry a balance with interest. Make sure you know which type of card you are applying for and that it will best fit your needs.
Pros and Cons of Business Credit Cards
Pros:
Business credit cards help keep personal and business finances separate
Business credit cards often have higher credit lines that personal cards
Business credit cards provide businesses flexibility when making purchases
Business credit cards may include tools for tracking spending across accounts or employees
Business credit cards can help establish business credit scores
Some business credit cards earn rewards
Cons:
Business credit cards are one more account to keep track of
Business credit cards may make it easy to accumulate debt
Business credit cards may require membership or other fees
How to Make the Most of Your Business Credit Card
To make the most of your business card, you’ll want to find a card whose benefits and rewards line up well with your business needs. By using the included perks, and earning rewards on every purchase, you can leverage your card to be an asset for your business.