When you own a business, you can end up spending quite a bit of money from month to month, whether it’s on products, services, or anything else thrown your way.
But you also know that anything that can help your bottom line is a great thing.
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The Business Credit Card We RAVE About
The best business credit card should be an effective tool for your business. It can help you earn some money back, or cover personal or business travel. That’s why we searched high and low and found the best overall business credit card for most businesses: the Chase Ink Business Preferred.
As a business owner, you are constantly trying to find ways to make better use of your capital, spend less money, and increase profits. A credit card can be one of the ways you spend less, and even make a little bit more.
If you have the right credit card that suits your type of business and expenses, you could be covering the cost of many of the things you buy, or potentially bringing in thousands of dollars each year in cash back. Imagine having your company’s travel budget cut in half or even fully covered. That is the magic of the best business credit cards: they can make a huge difference in your company’s bottom line when used efficiently.
Just as you wouldn’t keep your business’ money in your personal bank accounts, you shouldn’t be charging business expenses on a personal credit card. Keeping your business and personal finances separate is extremely important, not just for you to understand how each one stands but for tax purposes as well.
Keeping your business expenses on a business credit card can help you keep track of business deductions for tax purposes. It will help you see how much you are spending on the business each month, as well as places you can cut costs or have a bit more wiggle room. You will want to be sure that your business’ finances are not affecting your personal finances, and vice versa.
Business Credit Score vs. Personal Credit Score
As you likely know, a credit score is the crux of the matter when it comes to finances. A good credit score can give you many opportunities that a poor credit score can’t. With a good credit score, you will be granted loans more easily, given a better interest rate on those loans, and trusted by creditors much more easily.
When talking about credit scores, most people only think about their personal credit score. But did you know that your business has a credit score as well? Both personal and business credit scores accomplish the same thing—they give creditors and lenders an idea of how creditworthy you are and how much they can trust you when extending credit.
You are likely familiar with your personal FICO score, which is a three-digit number ranging from 300 to 850. The higher your score, the more trustworthy you are to those lending you money. A business credit score has a range as well, but it only goes from one to 100. The higher your business score (over 75 is usually considered excellent), the more likely you are to be approved for loans and business credit cards.
Like personal credit scores, there are three major bureaus that track and monitor business credit scores: Equifax Business, Experian Business, and Dun & Bradstreet. You’ll notice that two of these bureaus are the same (minus “Business”) ones that monitor personal credit scores. Personal credit scores are tracked via your social security number, but business credit scores are tracked via your company’s EIN, or employer identification number.
Be aware that even if you have been in business for a while, you may not have a business credit score. Lenders oftentimes don’t report to the business credit bureaus as often as reporting happens to the personal credit bureaus. However, you will still want to be actively tracking and monitoring your business credit score.
Not having a credit score, or worse, having a bad business credit score, could hurt you down the line. If you even need to open a business line of credit or get a business loan to expand, you may be left with unfavorable terms or be outright denied. Investors also may be hesitant to get on board if they see a poor business credit score.
Personal and business credit scores have a lot in common and accomplish the same task. But as you can see, they are distinct from each other and both should be monitored regularly. Lenders will also often consider your personal credit score when extending credit to your business, so you will want to keep that in tip-top shape as well.
Choosing the Best Business Credit Cards: Methodology
With both one-time and recurring business expenses, you want to make sure that you are getting the most bang for your buck. One often-forgotten component is the credit card you use for your business expenses. But knowing which credit card is best for your business requires a lot of research.
Fortunately, we’ve done all of the research for you, so it’s a simple process. We’ve broken down the best business credit cards into categories and explained who each one is best for. When evaluating business credit cards, we considered the following criteria:
- Annual Fee: Does this card carry an annual fee and how much is it? Do the perks justify the annual fee?
- Signup Bonus: How much is the sign-up bonus on this card? How much cash back, miles, or points are earned for the sign-up bonus? What are the requirements to earn it?
- Bonus Earning/Categories: In which categories does this card earn bonus points or cash back? How much is earned per dollar spent?
- Other Benefits: What perks does this card have that will benefit your business? Do you get any travel-related benefits for your business? How about various types of insurance?
Best Overall Business Credit Card
Chase Ink Business Preferred
- Annual Fee: $95
- Signup Bonus: 80,000 Ultimate Rewards Points after $5,000 spend in the first three months
- Bonus Earning/Categories: 3X Ultimate Rewards points on first $150,000 spent in combined purchases on travel, shipping, phone, cable, internet, and advertising on social media and search engines, 1X Ultimate Rewards points on all other purchases
- Other Benefits: No foreign transaction fees, point transfer to airline loyalty programs via Chase Ultimate Rewards, 25% point value boost when booking through Chase travel booking portal, trip cancellation and interruption insurance, roadside dispatch, car rental collision damage waiver, cell phone protection, purchase protection, extended warranty protection
- Pros: Huge sign-up bonus, broad bonus categories, low annual fee
- Cons: Limit on bonus earning
The Chase Ink Business Preferred credit card is top-notch when it comes to business credit cards. It has a huge sign-up bonus, a very broad range of bonus categories, and an annual fee that is pretty low for how much it offers. That’s why the Chase Ink Business Preferred is the best overall business credit card.
The sign-up bonus on this card is pretty hard to beat, especially given the low spending requirement. You will earn 80,000 Chase Ultimate Rewards points after spending just $5,000 on the card within three months from account opening. With Ultimate Rewards points worth about 1.5 cents each, this sign-up bonus is worth $1,200. Most cards with this big of a sign-up bonus require much higher spending on the card and usually have two tiers. The sign-up bonus alone is a reason to open this credit card.
The bonus earning categories on this card covers things that almost every single business can appreciate and use. With this card, you will earn three Ultimate Rewards points on all of the following categories: travel, shipping, phone services, cable service, internet service, and advertising on social media and search engines. That’s a ton of different purchases that have a 4.5% return! Just be aware that the three points per dollar is capped at $150,000 combined expenses per year. All other purchases will earn one Ultimate Rewards point per dollar.
This card also offers some great benefits for businesses and for travel. When traveling, you will have no foreign transaction fees, trip cancellation and interruption insurance, and a car rental collision damage waiver. These benefits can give you peace of mind to know you are covered if something untimely happens on a business trip. You will also get cell phone protection, extended warranty protection, and purchase protection. All of these things can be very useful for company phones and the equipment you buy for the office.
What makes Chase Ultimate Rewards points so valuable is that they can be transferred to a number of airline and hotel loyalty programs at a 1:1 ratio. That means your points can be worth a lot more if you find a great redemption on a flight or hotel stay. You also have the ability to book hotels, flights, and other travel-related purchases through the Chase booking portal where your points will be worth 1.25 cents each.
As you can see, this card has so much going for it—an absolutely amazing sign-up bonus, really broad bonus categories that every business can use, and an annual fee that is much lower than a lot of other similar business cards. The Chase Ink Business Preferred has been crowned the best business credit card on the market.
Best Premium Travel Business Credit Card
The Business Platinum Card from American Express
- Annual Fee: $595
- Sign-up Bonus: 50,000 Membership Rewards points after $10,000 spend in the first three months from account opening. Earn an additional 25,000 points after an additional $10,000 spend within the same three months
- Bonus Earning/Categories: 5X Membership Rewards points on flights and prepaid hotels on amextravel.com, 1.5X Membership Rewards points on eligible purchases of $5,000 or more, 1X Membership Rewards points on all other purchases
- Other Benefits: 35% points rebate on all flights with your selected airlines when redeemed through Pay with Points, $200 annual airline fee credit for incidental fees for one qualifying airline, TSA Pre-check or Global Entry enrollment fee credit, access to Global Lounge Collection, Hilton Honors Gold Status, Marriott Bonvoy Gold Elite Status, $100 hotel credit on stays of two nights or more at the Hotel Collection, $200 Dell statement credit, no foreign transaction fees, points transfer to multiple airline loyalty programs, baggage insurance, car rental loss and damage insurance
- Pros: Tons of travel benefits, large sign-up bonus, airline fee credit
- Cons: High annual fee
The Business Platinum Card from American Express is one of the best travel business cards thanks to the endless list of travel benefits and perks it gives cardholders. It has a high annual fee, but it offers tons of different statement credits and earns tons of points to easily offset the fee.
The sign-up bonus on this card is two-tiered: you will earn 50,000 Membership Rewards points after spending $10,000 within the first three months from account opening and another 25,000 points if you spend a total of $20,000 in the first three months. With Membership Rewards points worth up to two cents each, the sign-up bonus is potentially worth $1,500. That’s one of the largest-value sign-up bonuses among all credit cards.
Among all business and personal credit cards, this card has one of the highest earning rates on travel-related purchases. You will earn five Membership Rewards points for every dollar spent on flights and prepaid hotels on amextravel.com. That’s a 10% return on all of your flights and hotels you buy with cash. Purchases over $5,000 will earn 1.5 Membership Rewards points for every dollar, which is a solid 3% return for all of your big company expenses. Everything else will earn one point per dollar.
This card has an incredibly long list of perks and benefits, which include various statement credits, points rebates, and travel protections. Whenever you redeem Membership Rewards points through Pay with Points, 35% of the points you use will be refunded to your account. That is an extremely generous benefit, but just be aware that your points won’t be worth quite as much value when used in this way as opposed to transferring to other airline programs.
The card has multiple different credits as well. You get a $200 airline incidental fee credit each year to use towards baggage, seat upgrades, etc. You will also get reimbursed the cost of the enrollment fee for Global Entry ($100) or TSA Pre-check ($85). You get a $200 Dell statement credit each year ($100 January–June, $100 July–December) as well as $100 hotel credit when you book a stay for two or more nights at a property in The Hotel Collection through AmexTravel.
When traveling, you get a ton of benefits to make your travel easier and your hotels nicer. You will get complimentary Gold Elite status for both Hilton and Marriott, which could earn you room upgrades among other benefits. You have access to the Global Lounge Collection, which includes over 1,000 different airport lounges worldwide where you can eat and drink for free before flights.
You will also get baggage insurance, car rental loss and damage insurance, and no foreign transaction fees. All of this is topped off by the fact that you can transfer Membership Rewards points to multiple different airline loyalty programs, potentially boosting the points’ value up to two cents or higher.
If you have a business—especially one that requires travel—The Business Platinum Card from American Express should be your first choice.
Best Co-Branded Hotel Business Credit Card
Marriott Bonvoy Business American Express Card
- Annual Fee: $125
- Sign Up Bonus: 75,000 Marriott Bonvoy points after spending $3,000 in the first three months from account opening
- Bonus Earning/Categories: 6X Marriott Bonvoy points at participating Marriott Bonvoy hotels; 4X Marriott Bonvoy points at US restaurants, US gas stations, wireless telephone services from US service providers, and US purchases for shipping; 2X Marriott Bonvoy points on all other eligible purchases
- Other Benefits: Free night award on every card account anniversary plus an additional free night award after spending $60,000 in a calendar year (awards good at properties requiring up to 35,000 Marriott Bonvoy points per night), complimentary Marriott Bonvoy Silver Elite Status (earn Gold Elite status after spending $35,000 in a calendar year), no foreign transaction fees, 15 elite night credits annually, no annual fee on employee cards, points transfer to multiple airline programs (5,000 additional points for every 60,000 transferred)
- Pros: Big sign-up bonus, hotel elite status, free award night annually
- Cons: Average bonus earning, above-average annual fee
The Marriott Bonvoy Business American Express card finds the sweet spot between premium high-annual-fee hotel cards and bare-bones no-annual-fee hotel cards. It has a pretty reasonable annual fee for a solid sign-up bonus, great bonus earning categories, and plentiful perks.
The sign-up bonus on this business card will earn you 75,000 Marriott Bonvoy points after spending just $3,000 on the card in the first three months after opening the account. For a card that carries a $125 annual fee, this is a pretty good sign-up bonus. It is not the highest sign-up bonus at this annual fee price point, but it is the bonus categories and not the sign-up bonus that make this card great.
This Marriott card earns six Marriott Bonvoy points for every dollar you spend at participating Marriott Bonvoy hotels. With Marriott Bonvoy points worth about 0.8 cents each, that’s almost a 5% return when you stay at Marriott properties. This card’s 4X category is one of its main selling points. You will earn four points per dollar at US restaurants, US gas stations, wireless services from US service providers, and on US purchases for shipping.
Many hotel co-branded cards, both personal and business, primarily reward purchases at the associated hotel chain. But this card gives a great return for everything listed in the 4X bonus category. All other purchases earn two Marriott Bonvoy points per dollar.
This business hotel card also offers some really great perks and benefits. First off, like almost all hotel co-branded cards, you will get a free night (worth up to 35,000 Marriott Bonvoy points) every year that you renew the card and pay the annual fee. This benefit alone covers the cost of the annual fee each year. You can also earn another free night every year that you spend $60,000 or more on the card.
The card will give you complimentary Silver Elite status at Marriott, giving you a few other perks every time you stay at Marriott properties. If you spend $35,000 a year, you will earn an upgrade to Gold Elite Status. You will also get 15 elite night credits each year, helping you get that much closer to the next elite status tier. You can also get employee cards for no additional annual fee.
One additional good perk about the Marriott Bonvoy program is that your points can transfer to many airline loyalty programs (most at a ratio of 3:1). If you transfer 60,000 Marriott Bonvoy points in one transaction, you get an additional 5,000 points in the account of the receiving program. Although you will usually get more value by using your points for Marriott hotel stays, the transferability of points can help you top out another program for an award flight or occasionally find a sweet-spot redemption in one of the other programs.
Best Co-Branded Airlines Credit Card
Delta SkyMiles Platinum Business American Express Card
- Annual Fee: $250
- Sign-up Bonus: 80,000 Delta SkyMiles after spending $3,000 in the first three months from account opening, plus an additional 20,000 SkyMiles upon your first card renewal date (offer expires April 2020)
- Bonus Earning/Categories: 3X SkyMiles per dollar on all Delta purchases and purchases made directly with hotels, 2X SkyMiles at both restaurants and US supermarkets, 1X SkyMiles on all other eligible purchases
- Other Benefits: Priority boarding on all Delta flights, first checked bag free for you and up to eight companions booked on the same Delta reservation, 20% back in statement credit for pre-purchased in-flight meals and in-flight purchases, annual round-trip companion certificate each year upon card renewal, 10,000 bonus Medallion Qualifying Miles after $25,000 spend in a calendar year (20,000 MQMs after spending $50,000 in a calendar year), $39 Sky Club access, Global Entry ($100) or TSA Pre-check ($85) enrollment credit, trip delay protection, secondary car rental collision damage waiver, lost baggage reimbursement, purchase protection, return protection, extended warranty, no foreign transaction fees
- Pros: Huge sign-up bonus, multiple bonus categories, tons of perks
- Cons: Above-average annual fee, no lounge access
The Delta SkyMiles Platinum Business American Express Card is the best airline business credit card as it hits the perfect balance between a manageable annual fee and great benefits. Delta offers three business co-branded credit cards, with the Platinum being the middle-tier option. Although this card is most beneficial for people who fly Delta regularly, anybody that flies the airline on occasion can find great value.
First off, the sign-up bonus on this card is incredible. You will earn 80,000 SkyMiles after spending only $3,000 on the card in the first three months. With SkyMiles being worth about 1.2 cents each, this is worth $960. You will also earn an additional 20,000 SkyMiles upon your card account anniversary so long as you renew it. That’s another $240 worth of travel from the bonus.
When it comes to bonus earning categories, this business card really shines as it features a lot of different bonus categories. You will earn three SkyMiles per dollar on all Delta purchases and purchases made directly with hotels. You will then earn two SkyMiles whenever you use the card at restaurants or at US supermarkets. All other purchases will earn one SkyMile per dollar.
Take a look at the long list of benefits and perks that you will get with this card. Like most airline co-branded credit cards, you will get your first checked bag free on Delta flights as well as priority boarding. You will also get 20% back on in-flight purchases you make with Delta or any pre-purchased meals for Delta flights. You will also get statement credit for the enrollment fee for either TSA Pre-check or Global Entry.
One of the best and highest value perks on this card is the annual companion certificate you get each year you renew the card and pay the annual fee. This companion certificate allows you to bring a companion with you on a paid main cabin domestic Delta round-trip flight for just the taxes and fees. Depending on the route you fly, this benefit could be worth a lot of money.
If you are looking to earn elite status with Delta, the card also has a benefit where when you spend $25,000 in a calendar year, you will earn an extra 10,000 Medallion Qualifying Miles to help you reach the next elite tier. If you spend another $25,000 in the year, you will earn another 10,000 Medallion Qualifying Miles.
The card also features a ton of travel protections like secondary car rental coverage, trip delay protection, and lost baggage insurance. You will also get extended warranty, purchase protection, return protection, and no foreign transaction fees. The Delta SkyMiles Platinum Business American Express card is a great card for business owners that like Delta and fly at least a few times a year.
Best Flat Rate Cash Back Business Credit Card
Capital One Spark Cash for Business
- Annual Fee: $0 first year, $95 every year after
- Sign Up Bonus: $500 cash back bonus after spending $4,500 in the first three months from account opening
- Bonus Earning/Categories: 2% cash back on all purchases
- Other Benefits: No foreign transaction fees, free employee cards, car rental damage waiver, purchase security, extended Warranty
- Pros: First annual fee waived, no limit on rewards earning, good sign-up bonus
- Cons: Limited benefits
The Capital One Spark Cash for Business is a great card for business owners who don’t travel much or don’t want to worry about any hassle of managing miles and learning how to redeem them for travel. It is a simple, no-frills cash-back credit card that offers one of the highest returns among similar business cards.
This card carries a $95 annual fee, but it’s waived for the first year fee. This makes it a card that you could try out for a year without having to worry about paying a fee, to see if it works well for your business. You will earn $500 cash back after spending $4,500 on the card in the first three months after opening the account.
The best feature about this card is that it doesn’t have a cap on the amount of rewards you can earn. You will earn 2% cash back on all of your purchases you make each year. Many similar cards don’t offer quite as much cash back, usually only 1.5%, and they put a limit on the amount you can earn. This card will always beat those cards in the first year due to the waived annual fee. Although other cards have no annual fee every year, you will need to spend only $19,000 on the card to come out ahead during the years you pay an annual fee.
This card also comes with no foreign transaction fees in case you make purchases from foreign businesses or travel internationally, as well as free employee cards. You also get a car rental damage waiver, purchase security, and extended warranty protection. All of these things can help protect your business in case of unforeseen circumstances.
The Capital One Spark Cash for Business is the absolute best flat-rate cash-back business credit card for those who like a simple rewards system.
Best Business Credit Card for 0% Intro APR Offer
Chase Ink Business Unlimited Credit Card
- Annual Fee: $0
- Sign-up Bonus: $500 cash back after spending $3,000 in the first three months from account opening
- Bonus Earning/Categories: 1.5% cash back on all purchases
- Other Benefits: 0% Intro APR for 12 months on purchases, free employee cards, car rental collision damage waiver, purchase protection, extended Warranty
- Pros: No annual fee, unlimited rewards, generous sign-up bonus
- Cons: Minimal additional benefits
The Chase Ink Business Unlimited credit card has a lot to offer business owners as it has no annual fee, a great sign-up bonus, and one of the longest 0% introductory APR offers of all business credit cards.
This card carries no annual fee but has a sign-up bonus much more similar to cards with annual fees. You will earn $500 cash back after spending $3,000 on the card in the first three months after opening the account. That’s a very large value bonus for a no-annual-fee credit card.
This card features an extended 0% intro APR offer that lasts 12 months. Normally we wouldn’t recommend carrying a balance month to month due to high interest rates on credit cards. However, this extended 0% APR offer could make sense if you need to buy something expensive for your business that you either don’t have funds for yet or would rather pay off over time. Just be sure to pay off the balance before the offer expires, or you’ll be hit with high interest charges.
The card earns 1.5% cash back on all purchases, with no limit on the rewards. Although it is not the highest rewards rate of the cards on our list, the rewards on this card can be earned on everything you buy without any limits. This card also comes with free employee cards, car rental collision damage waiver, purchase protection, and extended warranty protection.
Your rewards can be worth even more if you have one of Chase’s Ultimate Rewards earning cards (Chase Sapphire Reserve, Chase Sapphire Preferred, or Ink Business Preferred). Your points can then be pooled among your accounts and be worth 25% to 50% more depending on which of the three other cards you have. You will also be able to transfer them to many other airline and hotel loyalty programs.
Although carrying a balance isn’t always the best idea, it could make sense in some circumstances if you have a 0% intro APR card like the Chase Ink Business Unlimited. If you need a little extra time to pay off a big business expense, this is the card for you.
Best No-Annual-Fee Business Credit Card
Chase Ink Business Cash Credit Card
- Annual Fee: $0
- Sign-up Bonus: $500 cash back after spending $3,000 in the first three months from account opening
- Bonus Earning/Categories: 5% cash back at office supply stores and on internet, cable, and phone services (up to $25,000 combined purchases each year), 2% cash back at gas stations and restaurants (up to $25,000 combined purchases each year), 1% cash back on all other purchases
- Other Benefits: 0% Intro APR for 12 months on purchases, free employee cards, car rental collision damage waiver, purchase protection, extended warranty
- Pros: No annual fee, high-value bonus categories, great sign-up bonus
- Cons: Minimal additional benefits
The Chase Ink Business Cash credit card has no annual fee but still offers a large sign-up bonus and great bonus rewards categories. That makes it a pretty valuable business credit card since it costs you nothing in fees but still provides plenty of opportunity to earn a lot of cash back.
The sign-up bonus for this card is $500 cash back after spending just $3,000 on the card in the first three months after opening the account. For a no-annual-fee card, a $500 sign-up bonus is pretty large. Most other no-annual-fee cards only offer a couple hundred dollars in rewards.
The bonus categories on this card are regularly used by businesses. You will earn 5% cash back on purchases at office-supply stores and on internet, cable, and phone services. The 5% earning rate tops out at $25,000 in combined purchases in these categories.
You will also earn 2% cash back at gas stations and restaurants—this category also tops out when you have spent $25,000 in combined purchases on gas and restaurants. Everything else will earn 1% cash back.
One thing that can add even more value to your rewards is having another Chase credit card that earns Ultimate Rewards points (Chase Sapphire Reserve, Chase Sapphire Preferred, or Ink Business Preferred). With one of these cards in your wallet as well, you can turn the rewards you earn with the Ink Business Cash into Ultimate Rewards points that are worth 25% or 50% more (depending on which card you have). They will also be able to be transferred to numerous hotel and airline loyalty programs.
This card also has a 0% intro APR offer for 12 months on purchases. Although we don’t recommend carrying a balance month to month, this can give you an opportunity to make a big purchase that you don’t have the capital for yet. The card also comes with free employee cards, extended warranty, purchase protection, and car rental collision damage waiver.
For a card with no annual fee, the Chase Ink Business Cash really packs a punch thanks to a big sign-up bonus and great rewards potential.
Best Business Credit Card for Simple Travel Rewards
Capital One Spark Miles for Business Credit Card
- Annual Fee: $0 for the first year, $95 every year after
- Sign-up Bonus: 50,000 miles after spending $4,500 on the card in the first three months from account opening
- Bonus Earning/Categories: 5X miles on hotel and rental car bookings made through Capital One Travel, 2X miles per dollar on all other purchases
- Other Benefits: Statement credit for TSA pre-check or Global Entry enrollment fee, points transfer to multiple airline and hotel loyalty programs, free employee cards, car rental collision coverage, purchase protection, extended warranty, no foreign transaction fees
- Pros: No annual fee, large sign-up bonus, no limit on rewards
- Cons: High spending requirement
The Capital One Spark Miles for Business credit card is a great card to simply earn miles and then use them for travel reward statement credit. But you will also have the flexibility to transfer points to other loyalty programs if you choose to do so.
This card comes with a sign-up bonus of 50,000 miles after you spend $4,500 in the first three months. It is a bit of a high spending requirement, but the miles are worth a minimum of $500. That’s a great sign-up bonus on a card that has the annual fee waived for the first year and only costs $95 each year afterwards.
You will earn five miles per dollar on hotel and car rental bookings made through the Capital One Travel portal. All other purchases will earn two miles per dollar with no limit on the rewards earned. If you use the miles for travel statement credit, that is a 5% and 2% return on purchases, respectively.
You will get a number of additional perks with this card. First off, you will get statement credit to cover the enrollment fee for either TSA pre-check ($85) or Global Entry ($100). You will also get free employee cards, car rental collision damage coverage, purchase protection, extended warranty, and no foreign transaction fees.
This card makes it very simple to earn and redeem your miles for travel purchases, but it gives you the ability to transfer them to other loyalty programs as well. You can get even more value out of your points by transferring them to one of the many airline partners. If you do choose the simple redemption route, just be aware that every point is worth one cent and you will need to cover the entire travel purchase made on the card within 90 days of the purchase.
The Capital One Spark Miles for Business makes it very simple to earn and redeem travel rewards but still gives you the ability to transfer your points. If you are a business owner who likes to travel (but maybe doesn’t care for the intricacies of loyalty programs), then this card is definitely for you.
- The Ultimate Guide To Credit Cards
- Best First Credit Cards: Travel, Students
- Best 0% APR Credit Cards: Cash Back, Travel, Dining
- Best Secured Credit Cards: Low APR, Bad Credit
Can my employees use my business credit card?
Your employees won’t be able to use your specific credit card. However, you can get separate credit cards for your employees. Whenever your employees make purchases—whether that’s office supplies, lunch for the office, or travel expenses—it will all charge to the same account.
If you think you will need separate cards for your employees, look for cards that don’t charge a fee for each card. Some business credit cards charge an annual fee for each additional card, but there are many that don’t.
Can I have multiple credit cards for my business?
Of course you can! This can actually be a very smart strategy as a way of boosting the rewards you earn every year. If different cards offer bonus categories for different things your business needs, then it would make sense to have both of those credit cards and put the appropriate purchases on each card.
One thing to be wary of is the annual fees on multiple credit cards. If they don’t have any annual fees, there isn’t any downside to this strategy. But if the cards have annual fees, you will want to make sure that you are going to get enough value to justify the additional fees.
How long do I have to be in business to be approved for a credit card?
You can be just starting a business and get approved for a business credit card. Banks and credit card issuers want your business expenses on their credit cards. They also want to try and retain your loyalty as your business grows.
But be aware that if your business is brand-new or doesn’t have any credit history, banks and card issuers will often look at your personal credit file. If you have poor personal credit, issuers may be wary of offering you business credit.
How big does my business need to be to get a credit card?
Your business can be brand-new or operating for decades. You could have a multi-million dollar business or one that likely won’t make a profit for a while. Banks aren’t as concerned about how long you have been in business as they are with how creditworthy of a business you have.
If your business is brand-new and doesn’t have credit history, they will want to see that you have good personal creditworthiness. If you have been in business for a while, banks will want to see that your business is creditworthy. It doesn’t matter if you have 100 employees or none, and it doesn’t matter if you make $100 a month or $1 million a month.
What is the overall best business credit card?
The best overall business credit card is the Chase Ink Business Preferred. This card comes with a massive sign-up bonus and bonus categories that almost any business regularly uses. It offers a boost in value of 25% to your rewards when you book travel through the Chase Ultimate Rewards booking portal. It also allows you to transfer your points to multiple travel partners, increasing the value even higher.
You will also get a bunch of travel protections so you can maintain peace of mind during your work or leisure travel. You will get all of these awesome perks, a massive sign-up bonus worth up to $1,200, and great bonus categories for a low $95 annual fee each year.
- CardMatch Tool: We know, we keep telling you about this. We really recommend it! Getting prequalified for credit cards is a big deal and a great service!
- Self-Counsel Press: Self-Counsel Press has a ton of different books to help you start a business or improve your business. You might just find the resource that takes your business to the next level.
- SmartAsset: SmartAsset is a great financial management and advice company that can help you build wealth for the future. They can recommend financial advisors based upon your goals.
- Small Business Finance for the Busy Entrepreneur: Blueprint for Building a Solid, Profitable Business: This book gives solid advice on how to manage your finances with your growing small business. Keeping your money organized helps your business to stay afloat and thrive—and this book will help you do that.