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What Is The Best Business Credit Card To Have

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What Is A Business Credit Card

What Is The Best Business Credit Card To Have?

Business credit cards generally operate just like personal credit cards, but enable you to take your business to the next level, pay for business expenses with ease and manage your business expenditures with clarity. Business credit cards make it easy to pay for all of your business expenses with one card, making accounting and bookkeeping easier. By having the right business credit card for your needs, you can ensure that you will have the funds you need for everyday business expenses, new projects and unexpected costs that may arise. Bonus: Almost all of the terms and conditions that apply to a personal credit card also apply to a business credit card.

How Should Someone Approach Finding The Best Business Credit Card For Their Specific Situation

Sara Rathner, NerdWallet:

Before applying, know how much you spend, and on what. From there, you can find the cards that reward you the most for what your business already does.

Luis Rosa, CFP:

Benefits will vary from solopreneurs to bigger businesses so make the decision based on spending patterns or anticipated future purchases.

Sarah Silbert, Personal Finance Insider:

If there are any specific benefits you want from a business credit card, start there. For example, not every business card comes with airport lounge access. If you don’t have any particular perks in mind, consider whether you want to earn cash back or travel rewards that decision alone will narrow down your options. From there, take a look at the credit card options and evaluate their benefits. If you’re looking at a card with an annual fee, make sure it’s worth it for you. You won’t want to pay hundreds of dollars per year for a card if you never put its luxury travel perks to use.

Benét Wilson, The Points Guy:

Look for a business credit card that can help you maximize your purchases, separate your expenses and save money on interest each year. Do you prefer earning cash-back rewards, airline miles, hotel points, or transferable currencies? Are you willing to pay an annual fee? What categories does your business spend the most in each year? Do you or your employees travel frequently and if so, would there be a benefit in having hotel elite status or a checked bag allowance when flying?

Comparing Credit Card Features

Every credit card delivers value in its own way, through its own unique combination of features. And there are trade-offs involved. If you want rewards, for example, you’ll probably have to accept a higher interest rate. If you want high-value perks, you’ll likely pay an annual fee. If you want a low interest rate and no fees, you shouldn’t expect much else from the card. In other words, you’re unlikely to find a single card that offers a high rewards rate, a long 0% period, a rock-bottom ongoing interest rate, generous perks and no annual fee.

Here are the main points of comparison when looking at credit cards.

Annual fee

Some people are dead-set against paying a fee just for the privilege of carrying a credit card. But paying an annual fee is worth it in certain circumstances. For example:

  • To earn significantly better rewards rates.

  • To unlock valuable perks, such as airport lounge access or free checked bags.

  • To get a card when you might not otherwise be able to, such as by avoiding a credit check.

With any annual fee, the math comes down to whether the value you get from the card exceeds the dollar amount you pay. Still determined not to pay? See our best credit cards with no annual fee of 2021.

Other fees

Depending on what you plan to do with the card, you’ll want to take these other fees into account:


Introductory interest rate

Ongoing interest rate

What’s the lowest interest rate on any credit card?




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  • Establish spending guidelines to ensure you dont take on high-interest debt using your business credit card.
  • Outline what constitutes a business expense, set your own spending limits outside of the designated credit limit and have a system in place for tracking purchases to ensure adherence to the rules.
  • If your business employs multiple people, have a clear policy in place to decide who will receive an employee card. Most importantly, communicate all employee card spending policies and guidelines across the business.
  • Use your card responsibly, but dont forget to actually use it. Especially if your card charges an annual fee, youll want to ensure youre maximizing your rewards and getting the most value out of your spending. And your business credit card could affect your personal credit.
  • Stay diligent in keeping your personal expenses separate from your business expenses to simplify bookkeeping.
  • Dont let your cash back or rewards points expire. Redeeming your rewards regularly can ensure that cash back or points value is invested back into your business rather than going to waste.

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American Express Business Gold Card


  • 4X Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month.
  • 1X 1X is earned for other purchases. **
  • 25% Airline Bonus: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
  • 4X Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month.
  • 1X 1X is earned for other purchases. **
  • 25% Airline Bonus: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*

Final Thoughts On Business Credit Cards

As you make your decision, Clark wanted me to remind you that these principles for using a credit card are universal whether its a personal or business card.

Some of the same rules apply here, Clark says. Cash back is king if youre not running balances. Interest rate is king if you are running balances.

So as you make your decisions, factor in some of the things we talked about like how much you spend per year, how much travel rewards could mean to your business and whether or not you can justify the annual fees.

Do you already have a business credit card? Wed love to hear about your experiences in the comments below!

To see the rates and fees for the American Express cards featured, please visit the following links: Business Platinum Card® from American Express: See Rates and Fees American Express® Business Gold Card: See Rates and Fees

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Cover The Cash Flow Crunch

In that case, you could pay the bills with a credit card today, and pay it off next week when you get paid. Business credit limits are way higher than personal credit cards . And a credit card is easier to get than a line of credit.

Some business cards come with flexible payment terms or introductory offers, such as 0% financing for one year after account openingâwhich means you may not need to pay interest for a year or more. If you know you can pay off a large purchase within the introductory period, it amounts to a free loan.

Should I Get A Business Credit Card

BEST Business Credit Cards for NEW BUSINESS | What Is The BEST Business Credit Card To Have? (2021)

If you spend in concentrated “business” categories — such as office supplies or telecom services — or want to have employee spending on a central credit account, then, yes. You may also appreciate these cards’ business-specific tools like budget trackers and account managers.

If you’re a small business owner, it’s a good idea to keep your business expenses separate from your personal finances — both for tax purposes and to make it simpler to review your spending. But you could just as easily keep your expenses separate, and track them, with a dedicated consumer credit card. As such, the typical rationale for getting a business credit card is to help manage employee cards or earn more rewards from business purchases.

A small-business credit card may not be the best option for a self-employed person, however. Self-employed individuals and sole proprietors may be better served by a consumer-oriented personal credit card from a credit card company — such as a cash-back credit card, travel credit card or student credit card. And a larger business will typically be able to negotiate more preferential and flexible terms with its card issuer within a “corporate” or “commercial” credit card program.

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Delta Skymiles Reserve Business American Express Card

Our pick for: Airline credit card for business

If your business has you on the road a lot, you’ll appreciate the airport lounge access on the Delta SkyMiles® Reserve Business American Express Card, which includes both Delta’s own Sky Clubs and American Express’s Centurion Lounges when flying Delta. The annual companion certificate which is good even in first class and the checked-bag benefit add considerable value, too. Terms apply. Read our review.

How To Get A Business Credit Card For Your Llc In 4 Steps

  • Check your credit score. Your personal credit score plays a big role in which business credit card you can get, but you don’t need good credit to get a business credit card. You can check your latest credit score for free on WalletHub.
  • Determine which card would be best for you. The ideal business credit card will give you the best value in rewards and benefits, based on your business spending and your overall needs. Narrow down the choices based on rewards rates in your biggest spending categories and other card benefits, and then compare expected earnings after taking any fees into account.
  • Fill out the application. You’ll need to provide details about the LLC on the application, such as its name, address, phone number, annual income, number of employees, years in business, and Employer Identification Number . You’ll also need to provide some information about yourself, such as your Social Security number and personal income, among other things.
  • Wait for a response. You could get a decision instantly, or the card issuer may need a closer look at your application. Most credit card issuers make a decision on applications within 2 weeks, and if you’re approved, your new card should get to you in 7-10 business days after approval. If you get denied for the card, consider calling the card issuer’s reconsideration line or looking into other credit card options.
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    Alternative Options: Spark Miles Select Spark Cash And Spark Miles

    Capital One offers several variations of its Spark business card that also offer great flat-rate rewards.

    Spark Miles Select functions just like Spark Cash Select, except it earns travel rewards instead of cash.

    Spark Cash and Spark Miles actually earn a slightly higher flat rate . But they both have a $95 annual fee and a higher APR range. For some spenders, they could still offer the better dealbut we suggest doing the math first.

    Data effective 04/20/21. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

    Want a super affordable business credit card? Wells Fargo Business Platinum Credit Card fits the bill, thanks to its low purchase APR.

    Wells Fargo Business Platinum Credit Card has the lowest starting purchase APR of any card on this list. While most cards start their APR ranges above 13%, the Wells Fargo Business Platinum Credit Card comes with a rate just over 11% . So while we dont recommend carrying a balance on your small-business credit card, the Wells Fargo Business Platinum Credit Card offers the most affordable option for doing so.

    Its affordable in other ways too. You wont pay an annual fee or employee card fee. Heck, Wells Fargo wont even charge you foreign transaction fees, making this card a good choice for travellers. Oh, and you start off with an even lower introductory APR of 0% for 9 months . Like we saidaffordable.

    How We Picked The Best Business Credit Cards

    Best Business Credit Cards 2019 / The Best Small Business ...

    Research methodology: We analyzed 368 business credit cards to identify the best offers currently on the market. The major factors we considered include:

    • Rewards program: Ideally, a business credit card should reward you for the purchases your business makes frequently, whether thats travel, office supplies or another category. We looked at whether a card offered a competitive rate of return in these spending categories as part of its base rewards program.
    • Introductory bonus: In addition to solid base rewards, we considered whether the card offered bonus points, miles or cash back in exchange for a reasonable spend within the first few months of opening the account.
    • Flexible financing offers: Many business owners use credit cards to finance large purchases, so we considered whether a specific card offered zero interest introductory APRs on purchases and/or balance transfers. We also considered whether the card had other financing features, like a flexible credit limit.
    • Overall value: Some business credit cards do carry annual fees, so we considered whether that fee was justified by the rewards program, introductory bonus and/or ancillary benefits.

    Other criteria include redemption options and flexibility, customer service, small business perks, and other rates or fees. Our business credit card reviews can help you compare offers to find the one that best suits your needs.

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    What Do I Put On A Business Credit Card Application

    If you’re a sole proprietor, you can apply for a business card using your Social Security number. You should put down your legal name as the business name. If you have a business with employees, you’ll need to answer questions about your business size, type, and revenue, in addition to providing your SSN and your EIN .

    Ink Business Cash Credit Card: Best Overall Small

    Data effective 04/20/21. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

    For most businesses, the Ink Business Cash Credit Card offers the best credit card option.

    A big reason for that? The Ink Business Cash Credit Card has great rewards. This cash back card gives you up to 5% cash backthe highest of any card on this list. Sure, that high percentage comes with some limitations. It applies only to the first $25,000 you spend on office supplies, internet, phone, or cable each year .

    But even with those limitations, its hard to top that 5% rate. And you still get plenty of cash back on other purchases, too. You get 2% cash back on the first $25,000 you spend at gas stations or restaurants each year. All other purchases get you 1% cash back.

    High rewards aside, the Ink Business Cash Credit Card still makes for a great card. With no annual fee, a competitive APR, free employee cards , and a nice signup bonus for new cardmembers, it would be a perfectly decent card even if you didnt max out your 5% cash back reward.

    That said, depending on your spending habits, another card on this list might end up rewarding you more .

    But for many small businesses, Ink Business Cash Credit Card offers unbeatable rewards on top of an already solid credit cardmaking it our overall favorite small-business credit card.

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    Best Overall Best For Travel Rewards: Ink Business Preferred Credit Card

    Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards®.

    Rewards Earning Rate Earn 3 points per $1 on the first $150,000 spent on shipping purchases, advertising purchases made with social media sites and search engines, internet, cable and phone services, and travel each account anniversary year. Earn unlimited 1 Point Per $1 spent on all other purchases. Points do not expire as long as your account is open.
    Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
    Cash Advance APR
    Either $15 or 5% of the amount of each transfer, whichever is greater.
    • Why We Chose This Card:
    • Pros & Cons

    The Ink Business Preferred Credit Card is our pick for best overall business card and best for general travel because it offers a massive one-time bonus worth an estimated $1,250 when redeemed for travel, along with triple points on travel and other eligible business expenses. The annual fee is quite reasonable at $95, and employee cards are free. Qualifying for the bonus requires a substantial $15,000 in spending during the first three months, so this card is best-suited to small businesses that can easily meet that requirement through planned capital or operational expenditures.

    • Potential to earn a large bonus

    • Flexible rewards program

    • High rewards on select business expenses

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