10 Best Small Business Credit Cards for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
Editor’s note: This is a recurring post with regularly updated card details.
The best business credit cards provide low-cost financing and options to earn rewards on recurring business expenses. Choose from a variety of reward options, including cash back, travel, or points rewards, where your business benefits the most. When deciding on which card is best for you, consider other factors like fees and additional features.
Here are the 10 best small business credit cards:
- Chase Ink Business Unlimited®: Best overall small business credit card and best card for startups
- U.S Bank Business Triple Cash Rewards World Elite Mastercard®: Best for earning 3% cash back on fuel, dining, and office supplies with long 0% annual percentage rate (APR)
- PNC Cash Rewards® Visa Signature® Business Credit Card: Best for earning lucrative bonus cash back with low spending requirement
- Chase Ink Business Cash®: Best cash back card for startups and limited liability companies (LLCs)
- Capital One® Spark® Miles Select for Business: Best for earning travel rewards
- Wells Fargo Business Platinum Credit Card: Best for rewards flexibility and for no reporting to personal credit bureaus
- American Express Business Platinum Card®: Best for high credit limits and premium travel perks
- American Express Blue Business CashTM: Best for earning cash back with expanded buying power
- Bank of America Business Advantage Customized Cash Rewards: Best for earning cash back in your chosen category
- Capital On Tap Business Credit Card Visa: Best for lowest starting APR with high credit limits
Best Small Business Credit Cards at a Glance
Best For | Annual Fee | Introductory Offer | Ongoing Rewards | Credit Needed | ||
|---|---|---|---|---|---|---|
 Chase Ink Business Unlimited® | Overall best small business credit cards and for startups | $0 | $750 bonus cash back and 0% APR for 12 months | 1.5% cash back | Good to Excellent | |
 U.S Bank Business Triple Cash Rewards World Elite Mastercard® | Earning 3% cash back on fuel, dining, and office supplies with long 0% APR | $0 | 500 bonus cash back and 0% APR for 15 months | Up to 5% cash back | Good to Excellent | |
 PNC Cash Rewards® Visa Signature® Business Credit Card | Earning lucrative bonus cash back with low spending requirement | $0 | $400 bonus cash back and 0% APR for 9 months | 1.5% cash back | Good to Excellent | |
 Chase Ink Business Cash® | Startups and LLCs who prefer cash back rewards | $0 | $750 bonus cash back and 0% APR for 12 months | Up to 5% cash back | Good to Excellent | |
 Capital One® Spark® Miles Select for Business | Earning travel rewards | $0 | 20,000 bonus miles and 0% APR for 9 months | Up to 5x miles | Good to Excellent | |
 Wells Fargo Business Platinum Credit Card | Rewards flexibility and for no reporting to personal credit bureaus | $0 | $300 cash back bonus or 30,000 bonus points | 1.5% cash back or 1x point per dollar | Good to Excellent | |
 American Express Business Platinum Card® | High credit limits and premium travel perks | $695 | 120,000 bonus points | Up to 5x points | Good to Excellent | |
 American Express Blue Business CashTM | Earning cash back with expanded buying power | $0 | $250 statement credit and 0% APR for 12 months | Up to 2% cash back | Good to Excellent | |
 Bank of America Business Advantage Customized Cash Rewards | Earning cash back on your chosen category | $0 | $300 statement credit and 0% APR for 9 months | Up to 3% cash back | Excellent | |
 Capital On Tap Business Credit Card Visa | Lowest starting APR with high credit limits | $0 | $200 back | 1.5% cash back | Fair to average |
To see how these cards stack up against others we reviewed on our site, click Add to Compare on a card below and select up to two additional cards for comparison.
Chase Ink Business Unlimited®: Best Overall Small Business Credit Card & Best Card for Startups
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Why we like it: The Chase Ink Business Unlimited® card is our top choice for the best overall small business credit card because it comes with no annual fee, a 0% introductory APR for 12 months, a lucrative welcome bonus, and a simple rewards program. You’ll earn cash back at a fixed rate of 1.5% for every dollar spent on any business purchase, and there are no limits to the amount of cash back you can earn.
As an introductory bonus, you’ll receive $750 cash back when you spend $6,000 in the first three months of card ownership. Plus, you can redeem rewards as a statement credit or toward gift cards, travel, or merchandise. You’ll also enjoy additional benefits like purchase protection, extended warranty protection, and auto rental collision damage waiver.
The Chase Ink Business Unlimited® card is also one of our best business credit cards for startups because of its straightforward rewards program.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best for Earning 3% Cash Back on Fuel, Dining & Office Supplies With Long 0% APR
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
0% APR for 15 billing cycles
Intro APR
0% for first 15 billing cycles
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and electric vehicle charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned.
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 16.99% to 25.99%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
0% for first 15 billing cycles
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and electric vehicle charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned.
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 16.99% to 25.99%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Why we like it: If your business is often on the go, you’ll benefit from the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® ‘s 3% cash back at eligible gas stations and restaurants. It also lets you earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 3% cash back on mobile phone service providers and office supply stores, and 1% cash back on all other purchases. There’s no limit on the total cash back earned, and rewards never expire.
What’s more, you can earn a $500 bonus cash back after spending $4,500 in the first 150 days of card ownership. It has no annual fee, and it comes with a long 0% APR period of 15 months on both purchases and balance transfers—the longest interest-free financing option on this list. In addition, if you have recurring software subscription expenses, like for QuickBooks or FreshBooks, you’ll receive a $100 statement credit per year.
The significant value the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® provides to your business made it our leading fuel business credit card and one of our picks for the best balance transfer business credit cards and top 0% APR business credit cards.
PNC Cash Rewards® Visa Signature® Business Credit Card: Best for Earning Lucrative Bonus Cash Back With Low Spending Requirement
PNC Cash Rewards® Visa Signature® Business Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
PNC Bank account holders wanting to earn fixed-rate rewards
Intro APR
0% for 9 billing cycles
Regular APR
15.99% to 24.99% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- Doesn’t charge annual fees
- With sign-up bonus
- Has low ongoing APR on purchases and balance transfers
Cons
- Doesn’t offer 0% introductory APR on balance transfers
- Need to have an active PNC Bank account to qualify for the card
- Cash Flow Insight®: Designed to help you monitor and plan your cash flow, send invoices via email, get paid online, and manage payables digitally.
- Lost luggage reimbursement: You and your immediate family members can be reimbursed up to $3,000 per covered trip if your luggage was lost or stolen when you charge your entire travel fare to this card.
- Travel and emergency assistance services: You can call the toll-free, 24-hour benefit administrator line at (800) 992-6029 to get assistance and referrals while traveling away from home.
- Trip delay reimbursement: Covers up to a maximum of $300 per purchased ticket for reasonable additional expenses incurred when a Covered Trip purchased was delayed for more than 12 hours.
Intro APR
0% for 9 billing cycles
Regular APR
15.99% to 24.99% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- Doesn’t charge annual fees
- With sign-up bonus
- Has low ongoing APR on purchases and balance transfers
Cons
- Doesn’t offer 0% introductory APR on balance transfers
- Need to have an active PNC Bank account to qualify for the card
- Cash Flow Insight®: Designed to help you monitor and plan your cash flow, send invoices via email, get paid online, and manage payables digitally.
- Lost luggage reimbursement: You and your immediate family members can be reimbursed up to $3,000 per covered trip if your luggage was lost or stolen when you charge your entire travel fare to this card.
- Travel and emergency assistance services: You can call the toll-free, 24-hour benefit administrator line at (800) 992-6029 to get assistance and referrals while traveling away from home.
- Trip delay reimbursement: Covers up to a maximum of $300 per purchased ticket for reasonable additional expenses incurred when a Covered Trip purchased was delayed for more than 12 hours.
Why we like it: If you plan to spend at least $3,000 in the first three months of card ownership, the PNC Cash Rewards® Visa Signature® Business Credit Card is a great option because it’ll give you a $400 bonus cash back. This is significantly higher compared to other business cards on this list with the same spending requirement.
Moreover, it has no annual fee and offers 1.5% cash back on all eligible business purchases with no limit to the amount you can earn. You can also benefit from a 0% introductory APR for the first nine billing cycles and take advantage of additional features like zero liability fraud protection, purchase protection, and extended warranty.
If you’re a real estate agent, the PNC Cash Rewards® Visa Signature® Business Credit Card is an excellent choice as it’s one of our top business credit cards for real estate agents.
Chase Ink Business Cash®: Best Cash Back Card for Startups & LLCs
Ink Business Cash® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Office-based businesses that want top cash back rewards
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- 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
- Earn 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
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less.
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- 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
- Earn 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
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less.
Why we like it: If your recurring expenses include office supplies, internet, cable, and phone, you can earn 5% cash back on all these items up to $25,000 for each account anniversary year with the Chase Ink Business Cash® card. Plus, it lets you get 2% cash back on the first $25,000 spent at gas stations and restaurants and 1% cash back on all other purchases. You can redeem your rewards for cash back, gift cards, travel, and merchandise.
Additionally, as an introductory bonus, you’ll earn $750 cash back when you spend at least $6,000 in the first three months of card ownership, just like the Chase Ink Business Unlimited®. Plus, you’ll enjoy a 0% introductory APR on purchases for the first 12 months. You can also take advantage of additional benefits like extended warranty, purchase protection, and auto rental collision damage waiver.
The Chase Ink Business Cash® card is our leading business credit card for startups and top-recommended LLC credit card because of its lucrative rewards.
Capital One® Spark® Miles Select for Business: Best for Earning Travel Rewards
Capital One® Spark® Miles Select for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Travel rewards and annual spending less than $19,000
Intro APR
0% on purchases
Regular APR
18.74% to 28.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
0% on purchases
Regular APR
18.74% to 28.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Why we like it: The Capital One® Spark® Miles Select for Business card is a great option if you frequently travel for business and want to earn travel rewards. Use this card to book hotel stays and rental cars through Capital One Travel and earn 5x unlimited rewards miles. It also lets you earn unlimited 1.5x miles on all other business purchases. You can redeem your miles for flights or hotels or transfer miles to one of Capital One’s travel partners.
It has no annual fee and doesn’t charge foreign transaction and balance transfer fees. You can take advantage of interest-free financing on purchases for the first nine months after opening an account. Plus, you can earn 20,000 bonus miles, equivalent to $200 in travel, when you spend at least $3,000 for the first three months of card membership.
The Capital One® Spark® Miles Select for Business is our most outstanding business credit card for travel and also one of our top business credit cards for miles.
Wells Fargo Business Platinum Credit Card: Best for Rewards Flexibility & No Reporting to Personal Credit Bureaus
Wells Fargo Business Platinum Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those with a Wells Fargo checking or savings account that has been open for at least one year
Intro APR
0%
Regular APR
Prime + 7.99% to Prime + 17.99% on purchases
Annual Fee
$0
Credit Needed
Good to Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Cardholders can choose between cash back or points in earning rewards
- With an interest-free financing period for the first nine billing cycles
- Can create up to 99 employee cards at no additional cost
Cons
- Cash back rewards are distributed on a quarterly basis
- You’ll need a Wells Fargo checking or savings account that has been open for at least one year to qualify
- Travel and emergency assistance services: Available for Visa cardholders 24 hours a day, 365 days a year. Specific services and their details can be found here.
- Extended warranty protection: Warranty coverages can be doubled up to one additional year on eligible warranties of three years or fewer.
- Employee cards: You can create up to 99 employee cards at no additional cost
- Zero liability protection and fraud monitoring: Can be fully reimbursed for unauthorized purchases or ATM transactions. In addition, Wells Fargo proactively monitors your business accounts to prevent fraudulent use of your card.
Intro APR
0%
Regular APR
Prime + 7.99% to Prime + 17.99% on purchases
Annual Fee
$0
Credit Needed
Good to Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Cardholders can choose between cash back or points in earning rewards
- With an interest-free financing period for the first nine billing cycles
- Can create up to 99 employee cards at no additional cost
Cons
- Cash back rewards are distributed on a quarterly basis
- You’ll need a Wells Fargo checking or savings account that has been open for at least one year to qualify
- Travel and emergency assistance services: Available for Visa cardholders 24 hours a day, 365 days a year. Specific services and their details can be found here.
- Extended warranty protection: Warranty coverages can be doubled up to one additional year on eligible warranties of three years or fewer.
- Employee cards: You can create up to 99 employee cards at no additional cost
- Zero liability protection and fraud monitoring: Can be fully reimbursed for unauthorized purchases or ATM transactions. In addition, Wells Fargo proactively monitors your business accounts to prevent fraudulent use of your card.
Why we like it: The Wells Fargo Business Platinum Credit Card allows you to earn either 1.5% cash back or 1x point per dollar on all business-related expenses, regardless of spending categories. Additionally, if you opt for points, you’ll earn 1,000 additional points when you spend at least $1,000 in a billing cycle. You’ll also receive a $300 bonus cash back or 30,000 bonus points after spending $3,000 or more in the first three months after opening an account.
Wells Fargo won’t report your activities to the major consumer credit bureaus, making it a great option if you don’t like your business transactions to affect your personal credit. It has a zero-interest financing option for the first nine months, has an annual fee and no foreign transaction fees, and lets you get up to 99 employee cards at no additional cost.
It’s important to note that your business transactions won’t help build or improve your personal credit score, but responsible use of the card can help build business credit. The Wells Fargo Business Platinum Credit Card is our top business credit card that doesn’t report to personal credit bureaus.
American Express Business Platinum Card®: Best for High Credit Limits & Premium Travel Perks
The Business Platinum Card® from American Express
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
Intro APR
N/A
Regular APR
19.24% - 27.24% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Plus Credit: Use your Card and get up to $189 back per year on your CLEAR® Plus membership. CLEAR® lanes are available at 100+ airports, stadiums, and entertainment venues.
- The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or an $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Intro APR
N/A
Regular APR
19.24% - 27.24% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Plus Credit: Use your Card and get up to $189 back per year on your CLEAR® Plus membership. CLEAR® lanes are available at 100+ airports, stadiums, and entertainment venues.
- The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or an $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Why we like it: The American Express Business Platinum Card® offers an introductory bonus of 120,000 points after spending $15,000 in the first three months. Plus, you’ll receive 5x points on flights and prepaid hotels booked with Amex Travel, gain access to over 1,400 international airport lounges, and receive an annual airline credit of up to $200 for baggage fees. These perks make it best for business owners who often go on business trips and need a high credit limit.
When you use points to book a flight with Amex Travel, you’ll get 35% points back, up to 1M per calendar year. You’ll also get 1.5x points at construction suppliers, electronic retailers, and software providers on up to $2 million of eligible purchases per calendar year and 1x points on all other purchases. While it has the highest annual fee on this list at $695 per year, it’s well worth it if you travel frequently and maximize its many benefits.
The American Express Business Platinum Card® is also named our best business credit card with airport lounge access and one of the top-ranking business credit cards for travel because of its premium travel perks. Also, because of its high introductory rewards, it’s one of our leading high-limit business credit cards.
American Express Blue Business CashTM: Best for Earning Cash Back With Expanded Buying Power
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Why we like it: If you want to earn cash back rewards and enjoy flexible credit limits, the American Express Blue Business CashTM Card is an excellent option. It offers 2% cash back on all eligible purchases up to $50,000 each calendar year, then 1% cash back thereafter. You can earn cash back as a statement credit automatically, providing automatic savings without the need to redeem. Plus, it features expanded buying power, allowing you to spend over your credit limit based on your card usage, payment behavior, credit score, and financial resources.
It has no annual fee and comes with a 0% APR for the first 12 months after opening an account. Additionally, you can earn a $250 statement credit after you spend $3,000 in qualifying purchases within the first three months.
The generous rewards and flexible credit limit are some of the reasons why the American Express Blue Business CashTM Card is our top-recommended cash back business credit card.
Bank of America Business Advantage Customized Cash Rewards: Best for Earning Cash Back in Your Chosen Category
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those wanting to earn 3% cash back in a spending category of your choice
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
17.99% - 27.99% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 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, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 17.99% to 27.99% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
17.99% - 27.99% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 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, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 17.99% to 27.99% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
Why we like it: The Bank of America Business Advantage Customized Cash Rewards card is an excellent option for businesses with significant expenses in certain spending categories. These include gas, office supplies, travel, telecommunication, computer, and business consulting services. You can earn 3% cash back on your chosen category and 2% cash back on dining on the first $50,000 combined purchases each calendar year. When the cap is met, you’ll earn 1% cash back on all purchases, regardless of the categories.
Additionally, it offers a $300 statement credit when you spend at least $3,000 in purchases in the first 90 days of card ownership and 0% APR purchases for the first nine billing cycles. You can also earn up to 75% more points if you have a business checking account with Bank of America and qualify for Preferred Rewards for Business.
The Bank of America Business Advantage Customized Cash Rewards card is also one of our best business credit cards with no annual fee because of its unique feature that allows you to customize where you can earn premium rewards.
Capital On Tap Business Credit Card Visa: Best for Lowest Starting APR With High Credit Limits
Capital On Tap Business Credit Card Visa
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want fixed-rate cash back rewards
Intro APR
Regular APR
17.74% to 35.99% variable
Annual Fee
$0
Credit Needed
Fair, Average
- Unlimited 1.5% cash back on all purchases
Pros
- No annual, foreign transaction, and cash advance fees
- Low starting APR
- High credit limit available
Cons
- Balance transfers aren’t allowed
- Sole proprietors and nonprofit orgs are not eligible
- Low sign-up bonus with high spending requirement
- Unlimited, free cards for employees
- Instant, virtual card is available right after approval
- Credit limits up to $50,000
- Uncapped 1.5% cash back on every purchase
Intro APR
Regular APR
17.74% to 35.99% variable
Annual Fee
$0
Credit Needed
Fair, Average
- Unlimited 1.5% cash back on all purchases
Pros
- No annual, foreign transaction, and cash advance fees
- Low starting APR
- High credit limit available
Cons
- Balance transfers aren’t allowed
- Sole proprietors and nonprofit orgs are not eligible
- Low sign-up bonus with high spending requirement
- Unlimited, free cards for employees
- Instant, virtual card is available right after approval
- Credit limits up to $50,000
- Uncapped 1.5% cash back on every purchase
Why we like it: If you have an excellent credit score, you may qualify for Capital On Tap Business Credit Card Visa’s lowest starting APR of 9.99%—this is a great option if you need to carry a balance from time to time. This card is issued by WebBank and is also designed for business owners with fair or average credit (APR will vary based on creditworthiness). It offers up to a $50,000 credit limit, and you can earn unlimited 1.5% cash back on all purchases.
If you can spend at least $15,000 within three months after opening an account, you’ll earn a $200 bonus cash back. You can redeem your rewards as a statement credit or discounted gift cards at merchants like Apple, Amazon, and Airbnb. On top of that, you can save on credit costs because it has no annual, foreign transaction, or cash advance fees. Note, however, that it doesn’t allow balance transfer transactions.
To qualify, you must own more than 25% shares of your company, and your business must earn an annual revenue of at least $30,000. It’s worth noting that this card isn’t for sole proprietorships, charities or non-profit organizations, trusts or funds, clubs, or other non-registered organizations.
How We Selected the Best Business Credit Cards
We reviewed several business credit cards and selected the ones that offer the best deals for small business owners, including low introductory financing, lucrative welcome offers, and generous ongoing rewards. We also considered annual fees, ongoing APRs, and any significant perks and benefits.
Frequently Asked Questions (FAQs)
Need to learn more about business credit cards—like why you should get one, how to select the best for your small business, and application requirements? Check out these frequently asked questions:
There are several reasons why you should consider a business credit card. Business credit cards can help you:
- Build business credit: When you use a business credit card, issuers report your credit history to business credit bureaus. As you build your credit and raise your credit score, you’ll increase your eligibility for cards with higher limits and greater rewards.
- Obtain short-term financing: Applying for a business credit card is a quick way to finance your business in the short term. Also, depending on your credit history, applying for a business credit card is a relatively easier process than applying for a business loan.
- Benefit from introductory financing: Some business credit cards offer introductory 0% APRs, which can help you finance large purchases or pay down a balance from a high-interest credit card.
- Earn rewards: Most business credit cards offer ongoing rewards that serve as discounts or rebates on your everyday expenses.
- Separate business and personal finances: Keeping your business and personal expenses separate is essential for organizing your business, protecting your personal assets, and making tax season much easier.
There are several factors that you should consider when choosing which business credit card is right for you. Here are a few effective tips that can help you find a suitable card for your small business:
- Consider how you’ll use the card: Think about what purchases you plan to make with the card. Will there be recurring expenses, such as gas, restaurants, flights, or hotels, or large purchases, such as office furniture and equipment? The way you’ll use the card should help you decide which one is the best fit for your needs.
- Determine if you need cards for personnel: If you have employees, you may want to select cards with spend management tools, accounting integration, and reporting capabilities. This way, you can streamline purchase monitoring and overall use of the business credit card.
- Weigh fees against perks and rewards: Some cards charge a substantial annual fee while others don’t charge a fee at all. Cards with a large fee tend to give substantial rewards for larger purchases.
- Decide if you’ll benefit more from cash or points rewards: Cards that offer cash rewards may directly credit your statement or send a check in the mail. Typically, these don’t charge an annual fee, and their rewards programs are usually straightforward. Points-based cards often charge an annual fee but you have many options for redeeming those points.
Typically, the requirements may vary from one issuer to another. In general, you’ll need to prepare the following:
- Basic information: Generally, you’ll need to provide basic contact information, business contact information, annual revenue, and anticipated monthly expenses when you apply for a business credit card.
- Personal credit score: If you’re starting a new business with no business credit history, most issuers typically require a personal credit score of at least 670 for approval. Some cards, such as fair credit and secured business credit cards, are tailored to business owners with personal credit scores below 670. However, these typically charge high APRs and don’t offer the best reward programs, but they can help you build or repair your credit history.
- Personal guarantee: Card issuers usually also require a personal guarantee, which means you’ll become personally liable for the debt if the business fails to repay. While there are some business cards that don’t require a personal guarantee, most of them are charge cards that require you to pay your balance in full each month.
Business credit cards allow you to build business credit, while personal credit cards don’t. Since personal credit cards don’t report to business credit bureaus, all the purchases and history you make using a personal credit card won’t contribute to building business credit. Additionally, an excellent credit score makes you more likely to be eligible for business cards that offer the richest rewards, perks, and benefits.
Use a business credit card if you want to build your business credit and earn rewards for business-related purchases like office supplies, phones, and internet. But choose a personal credit card if you’re unable to qualify for a business card or want to earn rewards on nonbusiness-related purchases, like groceries and streaming services.
Bottom Line
The best small business credit card should provide the most value for your business. When choosing, consider what you’ll purchase with the card and what rewards will help save money. If you already have a deposit account with a bank or credit union, it’s best to get your card from that financial institution to continue building your financial relationship. By doing so, you could potentially negotiate a better interest rate and add other business products or services to help build your credit history.
