BEST CREDIT CARDS
The best business credit cards make it easy for small business owners to separate business expenses from personal finances. They also offer useful rewards for all the money your business spends, and in many cases, fringe benefits like travel insurance or discounted technology subscriptions. There are a ton of reasons to pick up a business credit card.
With so many options available, though, it can be tough to find the best fit for your company. Here are our top choices and what kind of value they bring to the table.
ALSO READ: CardCruncher’s Guide to the Best Credit Cards for Hotel Rewards
Best business credit cards for 2020
To find the best business credit card for you, consider your business’s spending habits. Maybe you want simple, flat-rate rewards. Maybe you spend a lot in one category and want to cash in on that. Or maybe you simply won’t pay an annual fee. No matter what, there’s a card for you.
- Best for flat-rate rewards: The Blue Business Plus Credit Card from American Express
- Best for travel perks: The Business Platinum Card from American Express
- Best no-fee card: Ink Business Cash Credit Card
- Best for flexible categories: American Express Business Gold Card
- Best business airline card: CitiBusiness / AAdvantage Platinum Select World Mastercard
- Best for unlimited cash back: Capital One Spark Cash for Business
How to pick the right business credit card
The right business credit card for you depends on a few different factors, including:
- Your spending habits
- Credit score
- Other perks and features
Here’s a bit more detail on each of those factors.
Spending habits
As you can see, some business credit cards offer one flat rewards rate on every purchase, and others offer bonus rewards on certain categories. Getting a card that offers bonus rewards on categories where your business spends a lot could help you maximize the rewards you earn.
If, however, you don’t spend a lot in general, your expenses are all over the place, or you don’t want to keep track of which purchase net more rewards, it may be better to get a flat-rate rewards card.
Credit score
Most of the best business credit cards require good or excellent credit, which, according to FICO, starts at a credit score of 670. If you’re not there yet, you may need to do some more research to make sure you find a card you can qualify for.
If, however, your personal credit score is considered good or excellent, you’ll typically have a much easier time getting approved for one of our top choices.
Other perks and features
Credit cards aren’t just defined by their rewards programs. Some offer extra perks, and it’s also important to consider fees and interest.
If, for example, you need to transfer a high-interest balance from another card or finance a large expense, you’ll want a card with a good 0% APR promotion. But if you travel frequently for work and would benefit from airport lounge access, travel insurance or automatic hotel room upgrades, you’ll want a different card. Every business is different, and so is every business credit card.
As you compare cards, look at them as a whole to determine what’s most important to you. Take a look at this table to see how the best cards stack up for you.
| Card | Annual fee | APR | Welcome bonus | Best feature |
|---|---|---|---|---|
| American Express® Business Gold Card | $295 ($375 if application is received on or after 2/1/24) | 19.49% - 27.49% Variable | 35,000 Membership Rewards points | Choose 4X points on two categories |
| Blue Business Plus Credit Card from American Express | No annual fee | 18.49% - 26.49% Variable | $0 | Earn 2X points on all purchases, up to $50,000 |
| Business Platinum® Card from American Express | $695 | 19.49% - 27.49% Variable | 75,000 Membership Rewards points | Airport lounge access, hotel status upgrades, and 5X points on travel |
| Capital One® Spark® Cash for Business | $0 intro for first year; $95 after that | 20.99% (Variable) | $500 | Unlimited 2% cash back on all purchases |
| CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® | $99, waived for first 12 months | 21.24% - 29.99% (Variable) | 70,000 miles after $4,000 in purchases in first four months | First checked bag free and priority boarding on American Airlines |
| Ink Business Cash Credit Card | $0 | 14.74% - 20.74% Variable | $500 | 5% cash back on common business expenses |
| Ink Business Preferred Credit Card | $95 | 21.24%-26.24% Variable | 100,000 points | 3X points on common business expenses and more valuable travel redemptions |
| Ink Business Unlimited Credit Card | $0 | 14.74% - 20.74% Variable | $500 | 1.5% cash back on all purchases |
>>FIND THE CARD THAT FITS YOUR SPENDING HABITS
Do I need a business credit card for my business?
You don’t technically need a business credit card as a business owner; a personal credit card will do just fine. That said, it’s essential to avoid mixing your business and personal expenses. Having a separate credit card will help make tracking your expenses easier, especially when it’s time to file your taxes.
Additionally, business credit cards typically offer rewards and benefits that are more relevant to common business expenses and needs. That makes them better for how you spend money with your company.
What business credit card gives the highest limit?
It’s hard to answer this question definitively, as your credit limit comes from several factors. Those include:
- Your credit score
- Revenue
- Expenses
- Your personal income
Those are just a few factors. Business credit card issuers don’t publish their credit limit ranges openly, and you won’t find out your limit until after your application has been approved. If your limit is lower than you’d like, you may be able to ask for a credit line increase after you’ve proven to be a responsible credit card user or your cash flow has increased.
All that said, charge cards, like The Business Platinum® Card from American Express don’t have a pre-set spending limit. That doesn’t mean there you can spend an unlimited amount, however. Instead, your spending limit relies on your income, spending patterns, and payment history.
Of course, just because you can make a huge purchase, doesn’t mean you should. Charge cards, like the Business Platinum® Card from American Express, require payment in full each month. That makes them a poor choice if you’re planning to carry a balance from month to month.
How do I qualify for a small business credit card?
Beyond meeting creditworthiness requirements, you need to have a legitimate business to get a business credit card. That said, there’s typically no minimum requirements for revenue or length of time you’ve been in business.
If you have an employer identification number (EIN), you can include it in your credit card application, and responsible card use can help you build a business credit history. An EIN isn’t always required, however, and you can get approved with just a Social Security number if you’re a sole proprietor.
Do business credit cards require a personal guarantee?
Most business credit cards require a personal guarantee. This means that if your business can’t pay back the debt you incur on the card, you’ll be responsible for paying it back with your personal assets.
The personal guarantee requirement is the primary reason business credit card issuers run a personal credit check when you apply—they need to make sure you’re good for the personal guarantee.
Some business credit cards don’t require a personal guarantee, but they’re typically reserved for midsize and large companies. Instead of requiring a personal credit check, approval for these cards typically depends on your business’s credit history and financials.
Best Business Credit Cards details
American Express Business Gold Card
Amex Gold Card
Annual Fee: $295 ($375 if application is received on or after 2/1/24)
APR: 19.49% - 27.49% Variable
Bonus: 35,000 Membership Rewards points
Rewards: Earn 4X points on up to $150,000 spent each year in the two categories where your business spends the most each month from a list of options. All other purchases net 1 point per dollar.
Business benefits: Up to one year free of G Suite Basic for three users, up to one year of ZipRecruiter Standard, no pre-set spending limit, and Spend Manager feature.
Pro: Offers big rewards on common business expenses.
Con: No traditional welcome bonus.
The Business Platinum Card from American Express
American Express Business Platinum
Annual Fee: $695
APR: 19.49% - 27.49% Variable
Bonus: 75,000 Membership Rewards points
Rewards: Earn 5X points on flights and prepaid hotels on amextravel.com, plus 1 point per dollar on everything else.
Business benefits: Earn 50% more rewards on purchases of $5,000 or more, one year of Platinum Global Access from WeWork, up to a $200 annual statement credit on Dell purchases, and Spend Manager feature.
Pro: The card offers a suite of luxury travel perks, including airport lounge access, rental car insurance, and a $200 annual airline credit, among others.
Con: The annual fee is steep.
Ink Business Preferred Credit Card
Chase Ink Preferred
Annual Fee: $95
APR: 21.24%-26.24% Variable
Bonus: 100,000 points
Rewards: Earn 3X points on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year, plus 1 point per dollar on everything else.
Business benefits: Free employee cards.
Pro: Ultimate Rewards points offer maximum flexibility. You can get 25% more value when you book travel through Chase, or you can redeem points for cash back or gift cards, or transfer them to one of the bank’s airline and hotel partners.
Con: Doesn’t offer any business-specific perks beyond free employee cards.
Ink Business Cash Credit Card
Chase Ink Cash
Annual Fee: $0
APR: 14.74% - 20.74% Variable
Bonus: $500
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, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on everything else.
Business benefits: Free employee cards.
Pro: A great sign-up bonus and high rewards rates with no annual fee.
Con: Doesn’t offer any business-specific perks beyond free employee cards.
Capital One Spark Cash for Business
Capital One Spark Cash Select for Business
Annual Fee: $0 intro for first year; $95 after that
APR: 20.99% (Variable)
Bonus: $500
Rewards: Unlimited 2% cash back on all purchases.
Business benefits: Free employee cards and expense management tools.
Pro: A great welcome bonus and high rewards rate on all purchases.
Con: No bonus rewards rates.
The Blue Business Plus Credit Card from American Express
Amex Blue Business Plus
Annual Fee: No annual fee
APR: 18.49% - 26.49% Variable
Bonus: $0
Rewards: Earn 2X points on the first $50,000 spent each year, and 1 point per dollar after that.
Business benefits: Ability to spend above your credit limit, free employee cards, and Spend Manager feature.
Pro: Offers a long introductory 0% APR promotion.
Con: Has a cap on bonus rewards.
Ink Business Unlimited Credit Card
chase ink business unlimited
Annual Fee: $0
APR: 14.74% - 20.74% Variable
Bonus: $500
Rewards: Unlimited 1.5% cash back on every purchase.
Business benefits: Free employee cards.
Pro: A great sign-up bonus, introductory 0% APR promotion, and ongoing rewards rate.
Con: No bonus rewards rates.
CitiBusiness / AAdvantage Platinum Select World Mastercard
CitiBusiness AAdvantage Platinum Select World Mastercard
Annual Fee: $99, waived for first 12 months
APR: 21.24% - 29.99% (Variable)
Bonus: 70,000 miles after $4,000 in purchases in first four months
Rewards: 2X miles on American Airlines purchases and at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations. 1 mile per dollar on everything else.
Business benefits: Free employee cards.
Pro: A great sign-up bonus and special perks with American Airlines.
Con: Limited redemption flexibility and no business-specific perks beyond free employee cards.
The bottom line
The best business credit cards offer a wealth of value to business owners, but not every one will be right for you. As you search for the right credit card, consider your spending habits, credit score, and general preferences, and take the time to research several cards to narrow your selection.
Once you pick a card, understand its rewards program and benefits so you can squeeze as much value out of the card as possible. While it can take time to get acquainted with your new card and learn how to maximize its value, that’s time well spent in the long run.
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