The best credit cards to use for your business spending

Most American Express cards also offer a tremendous sign-up bonus, as well as opportunities to earn rewards points and bonus points for qualifying purchases. While a business credit card is for business purposes, a personal credit score is still a key qualifying factor across nearly every major business credit card. A great credit score helps power approvals and opens up a plethora of options for the applicant to choose from. Since businesses are already viewed as riskier borrowers from the lender’s perspective, credit requirements for business credit cards are sometimes even tighter than the personal credit card realm. There are just a handful of options from the major business credit card issuers for business owners with bad or no credit.

Best Small Business Credit Cards for 2024

If your business spending isn’t concentrated in any one particular category, the Capital One Spark Cash Select card may be for you with an unlimited 1.5% cash back on all purchases with multiple reward redemption options. Unfortunately, this card has an annual fee $395, making it much less competitive than some others on this list. However, you can earn up to $395 in statement credits on eligible purchases, which could make up for that hefty annual fee. According to our study on major credit card issuers, American unearned revenue Express is the third most popular credit card issuer, and when it comes to the American Express Business Gold card, it’s easy to see why. With a hefty 4x points offered in the two purchase categories that you do most of your business spending in, this card allows users to get the biggest rewards bang for their spending.

• Further, you won’t be on the hook for an annual fee, and there’s no need to worry about foreign transaction fees.
• If your business operates under a formal business structure, such as an LLC, S Corporation or C Corporation, it’s essential you use a business credit card, rather than a personal credit card, for business expenses.
• Having a separate credit card for business transactions is essential for your bookkeeping.
• The information for the United Club Business Card has been collected independently by The Points Guy.
• That’s $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠.
• High-interest rates and complex fee structures can quickly offset any benefits gained from reward programs.

Best for 2% back on up to $50K annually

Our pick for best business gas credit card is the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card. You’ll earn a high rate of cash back on the first $50,000 you spend in the category of your choice, including gas. Plus, this card is worth keeping in your wallet for other business expenses, since you’ll earn cash back on every purchase.

Capital One Spark 2X Miles

I primarily use my points for travel, so transferring to airline and hotel partners is where I can get the most value for my rewards. Not all business credit cards are created equal, so pay attention to the fine print. A fixed cash back card gives you a consistent return, while category-based rewards let you earn more in areas like office supplies, dining, or travel. Annual fees can be worth it if the perks outweigh the cost, and a big sign-up bonus can provide an extra boost — but make sure the spending requirement fits your budget. If you’re spending money on your business anyway, you should be rewarded for those purchases by using one of the best small-business credit cards.

• Doing so allows you to separate your personal and business finances for cleaner accounting.
• Cardholders earn unlimited 1.5% cash back on purchases in the form of valuable Chase Ultimate Rewards® points that can be redeemed for cash, gift cards, travel, and shopping.
• Business credit cards are a great way to build business credit and allow startups to purchase items required to operate their business, such as equipment and office supplies.
• /dEarn unlimited 1.5% cash back on every purchase made for your business.
• Other spending categories range from 1-2% without the need to enroll in bonus spending promotions.

He previously covered travel rewards credit cards, budget travel, and aviation news at SmarterTravel Media. His money-saving tips have appeared in the Washington Post, the Wall Street Journal, Consumer Reports, MarketWatch, Vice, People, the Zoe Report and elsewhere. It all depends on the given issuer, since some will consistently report business card account information to both consumer and commercial credit bureaus, while others won’t.

How to choose the best credit card for your business expenses

First, you need to register your business and get an Employer Identification Number (EIN), then apply for a business credit score. Finally, you need to determine the right credit card for your startup before you start applying. Chase Ink Business Cash makes the list as the overall best business rewards credit card because of its large selection of rewards.

She specializes in turning complex financial topics into clear, actionable advice, with work featured in http://purina.top/gross-vs-net-profit-clear-explanation/ U.S. With online applications, it’s possible that you could receive approval for a business card within 48 hours. However, some credit card companies can take as long as 10 days to decide. Once you receive approval, you may have access to a virtual card to use while waiting for your physical credit card to come in.

There are many credits that can potentially help offset the annual fee, what is a business credit card including a $300 annual travel credit. Small business credit cards aren’t just useful for the welcome bonuses and the great return on spending, but they can also be a good way to separate personal and business expenses. Back in the day, it was rare to see big welcome bonuses or generous rewards structures on small business credit cards.