In today's world, credit cards have become an essential tool for businesses of all sizes. They offer the convenience of making purchases and managing cash flow, and they often come with a range of perks and benefits that can help business owners save money and streamline their operations.

Business credit cards are essential tools for small business owners, providing a variety of rewards, benefits, and perks that can help you manage your finances and grow your business. Two of the most popular business credit cards on the market today are the Chase Ink Business Preferred and the American Express Business Gold Card. In this blog post, we'll take a closer look at each of these cards and their unique features, benefits, and drawbacks, so you can choose the one that's right for your business.

However, not all credit cards are created equal, and it can be challenging to determine which ones offer the best value for your business. In this blog post, we will highlight some of the best business credit cards currently available, along with their features and benefits.

Best Business Credit Cards

Chase Ink Business Preferred

The Chase Ink Business Preferred card is a popular choice among business owners, thanks to its generous rewards program and valuable perks. Cardholders earn three points per dollar on the first $150,000 spent on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year. All other purchases earn one point per dollar. Points can be redeemed for travel, cashback, gift cards, or transferred to participating travel loyalty programs at a 1:1 ratio.

The card also comes with a host of travel and purchase protection benefits, including trip cancellation/interruption insurance, primary car rental insurance, and purchase protection for up to 120 days from the date of purchase.

The Chase Ink Business Preferred is a premium business credit card designed for small business owners who want to earn rewards and maximize their spending. Here are some of the key features and benefits of this card:

Rewards

The Chase Ink Business Preferred offers 3x points per dollar spent on travel, shipping purchases, internet, cable, and phone services, and advertising purchases made with social media sites and search engines, up to a maximum of $150,000 in combined purchases per account anniversary year. You'll earn 1x points per dollar spent on all other purchases. Points can be redeemed for travel, cash back, or transferred to partner airline and hotel loyalty programs.

Sign-up bonus

The Chase Ink Business Preferred offers a generous sign-up bonus of 100,000 points after you spend $15,000 on purchases in the first 3 months from account opening. This is one of the largest sign-up bonuses available on a business credit card.

Annual fee

The annual fee for the Chase Ink Business Preferred is $95.

Additional benefits

This card also comes with additional benefits, including travel and purchase protection, employee cards with individual spending limits, and no foreign transaction fees.

Drawbacks

The main drawback of the Chase Ink Business Preferred is the $95 annual fee, which may be a barrier for some small business owners. Additionally, the 3x points categories may not be the most relevant for all businesses, depending on their spending habits.

American Express Business Gold Card

The American Express Business Gold Card is a premium option for business owners who want to earn rewards on a variety of purchases. With this card, you earn 4 Membership Rewards points per $1 spent on the two categories where your business spends the most each billing cycle (up to the first $150,000 in combined purchases each calendar year), and 1 point per $1 spent on all other purchases.

This card also comes with a welcome offer of 70,000 Membership Rewards points after you spend $10,000 within the first 3 months of opening your account. Additionally, you can earn up to $300 in statement credits each year for eligible purchases at Dell Technologies, DocuSign, and FedEx.

There is a $295 annual fee for this card, but it can be offset by the benefits you receive. You get access to the American Express Global Lounge Collection, which includes access to more than 1,200 airport lounges around the world. You also receive a $100 airline fee credit each calendar year, which can be used towards incidental fees such as baggage fees and in-flight food and drinks. Finally, you can add employee cards for free.

Capital One Spark Cash for Business

The Capital One Spark Cash for Business card is an excellent choice for businesses that want a simple, straightforward rewards program. Cardholders earn unlimited 2% cashback on all purchases, making it easy to earn rewards without having to track spending in specific categories.

In addition to the cashback rewards, the card offers a range of valuable benefits, including free employee cards, purchase protection, and extended warranty coverage.

The American Express Business Gold Card is another premium business credit card that offers a variety of rewards and benefits. Here are some of the key features and benefits of this card:

Rewards

The American Express Business Gold Card offers 4x points per dollar spent on the two categories where your business spends the most each billing cycle, up to a maximum of $150,000 in combined purchases per year. You'll earn 1x points per dollar spent on all other purchases. Points can be redeemed for travel, cash back, or transferred to partner airline and hotel loyalty programs.

Sign-up bonus

The American Express Business Gold Card offers a sign-up bonus of 70,000 Membership Rewards points after you spend $10,000 on purchases in the first 3 months from account opening.

Annual fee

The annual fee for the American Express Business Gold Card is $295.

Additional benefits

This card also comes with additional benefits, including travel and purchase protection, employee cards with individual spending limits, and no foreign transaction fees.

Drawbacks

The main drawback of the American Express Business Gold Card is the high annual fee, which may be a barrier for some small business owners. Additionally, the 4x points categories may not be the most relevant for all businesses, depending on their spending habits.

Bank of America Business Advantage Cash Rewards Mastercard

The Bank of America Business Advantage Cash Rewards Mastercard is a great option for business owners who want to earn cashback on their purchases. This card offers 3% cashback in a category of your choice, including gas stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. You also earn 2% cashback at restaurants and 1% cashback on all other purchases. There is no limit on the cashback you can earn, and the rewards never expire.

In addition to the cashback rewards, this card also comes with a $300 statement credit when you make at least $3,000 in purchases within the first 90 days of opening your account. There is no annual fee for this card, and you can add employee cards for free. 

CitiBusiness AAdvantage Platinum Select Mastercard

If you’re a business owner who frequently travels for work, the CitiBusiness AAdvantage Platinum Select Mastercard might be the right choice for you. This card offers 2 AAdvantage miles for every $1 spent on American Airlines purchases and on purchases at telecommunications merchants, cable and satellite providers, car rental merchants, and gas stations. You also earn 1 AAdvantage mile for every $1 spent on all other purchases. Additionally, you can earn a bonus of 70,000 AAdvantage miles after spending $4,000 within the first 4 months of opening your account.

This card comes with a $99 annual fee, but it can be offset by the benefits you receive. You get your first checked bag free for you and up to four companions traveling on the same reservation, preferred boarding, and a 25% discount on in-flight purchases. You also receive a 25% savings on eligible inflight Wi-Fi purchases when you use your card. Finally, you can add employee cards for free.

In conclusion, choosing the right business credit card is an important decision that can impact your company's finances and operations. By considering the features and benefits of each card, along with your business's spending habits and needs, you can find the card that offers the most value for your organization.

It's important to note that many business credit cards come with additional perks beyond the rewards and benefits listed above. For example, some cards offer introductory 0% APR periods, waived annual fees for the first year, and sign-up bonuses for new cardholders. Be sure to read the fine print and understand all the terms and conditions before applying for a card.

Additionally, it's essential to use your business credit card responsibly and pay off your balance in full each month to avoid accruing interest charges and damaging your credit score. Using a business credit card can help you manage your expenses, earn rewards, and build your credit history, but only if you use it wisely.

Types of Business Cards

Business credit cards are designed specifically for business owners and offer a range of features and benefits that can help you manage your expenses and earn rewards. There are several types of business credit cards available, each with its own set of features and benefits. In this post, we’ll take a closer look at some of the most common types of business credit cards.

Business Cashback credit cards

Cashback credit cards allow you to earn cashback rewards for your business purchases. You typically earn a percentage of your spending back as cashback rewards, which can be redeemed for statement credits, cash, or other rewards. These cards often offer higher cashback rewards for specific categories of spending, such as office supplies, gas, or travel.

Business Rewards credit cards

Rewards credit cards allow you to earn points or miles for your business purchases. These points or miles can be redeemed for travel, merchandise, gift cards, or other rewards. Some rewards credit cards offer higher earning rates for specific categories of spending, such as dining or travel.

Business Travel credit cards

Travel credit cards are designed for business owners who frequently travel for work. These cards typically offer rewards points or miles that can be redeemed for travel-related expenses such as flights, hotel stays, and rental cars. They often come with travel-related perks such as priority boarding, free checked bags, and airport lounge access.

Business Balance transfer credit cards

Balance transfer credit cards allow you to transfer existing high-interest credit card balances to a new card with a lower interest rate. This can help you save money on interest charges and pay off your balance more quickly. Some balance transfer cards also offer rewards or cashback programs.

Business Low-interest credit cards

Low-interest credit cards offer a lower interest rate on purchases than other credit cards. This can be especially useful if you need to carry a balance from month to month. Some low-interest credit cards also offer rewards or cashback programs.

Business Secured credit cards

Secured credit cards require a security deposit, which is typically equal to your credit limit. This can be a good option if you have limited credit history or a low credit score. Your credit limit is typically based on the amount of your security deposit. Secured credit cards can help you build credit and improve your credit score.

Business Charge cards

Charge cards are similar to credit cards, but they require you to pay off your balance in full each month. This can be a good option if you want to avoid interest charges and build credit. Some charge cards also offer rewards or cashback programs.

Best Business Credit Cards

• Best Overall, Best for Travel Rewards: Ink Business Preferred Credit Card
• Best Business Hotel Card: Marriott Bonvoy Business American Express Card
• Best Business Airline Card: United Business Card
• Best for American Airlines: CitiBusiness / Advantage Platinum Select Mastercard
• Best No Annual Fee Business Card: WellsFargo Business Platinum Credit Card
• Best for Office Supply Purchases: Ink Business Cash Credit Card 
• Best for Airport Lounge Access: The Business Platinum Card from American Express
• Best for Amazon Business / AWS Cloud Hosting: Amazon Business Prime American Express Card 

Best Brands of Business Credit Cards

Credit cards are becoming an increasingly popular tool for businesses to manage expenses and earn rewards. With so many options available, it can be difficult to decide which card is right for your business. In this blog post, we will explore four popular business credit cards: Ink Business Preferred℠ Credit Card, Marriott Bonvoy Business™ American Express® Card, United℠ Business Card, and CitiBusiness® / AAdvantage Platinum Select Mastercard.

Ink Business Preferred℠ Credit Card

The Ink Business Preferred℠ Credit Card is a popular choice for small businesses. It offers a sign-up bonus of 100,000 points after spending $15,000 in the first 3 months of account opening, which is worth $1,250 when redeemed for travel through Chase Ultimate Rewards. The card also offers 3 points per $1 on the first $150,000 spent on travel, shipping purchases, internet, cable, and phone services, and advertising purchases made with social media sites and search engines.

One of the standout features of the Ink Business Preferred℠ Credit Card is its travel and purchase protection benefits. These include trip cancellation/interruption insurance, primary rental car insurance, and purchase protection against damage or theft for up to 120 days from the date of purchase.

Marriott Bonvoy Business™ American Express® Card

The Marriott Bonvoy Business™ American Express® Card is a great option for businesses that frequently stay at Marriott hotels. The card offers a sign-up bonus of 100,000 Marriott Bonvoy points after spending $5,000 in the first 3 months of account opening. Cardholders earn 6 Marriott Bonvoy points for every $1 spent at participating Marriott Bonvoy hotels, and 4 Marriott Bonvoy points per $1 spent at U.S. restaurants, U.S. gas stations, wireless telephone services purchased directly from U.S. service providers, and on U.S. purchases for shipping.

The Marriott Bonvoy Business™ American Express® Card also offers a range of benefits that can help businesses save money on travel expenses. These include a free night award every year after your account anniversary, complimentary Marriott Bonvoy Silver Elite status, and automatic Gold Elite status when you spend $35,000 on eligible purchases in a calendar year.

United℠ Business Card

The United℠ Business Card is a great option for businesses that frequently fly with United Airlines. The card offers a sign-up bonus of 75,000 bonus miles after spending $5,000 on purchases in the first 3 months from account opening. Cardholders earn 2 miles per $1 spent on United purchases, at gas stations, office supply stores, and restaurants. They also earn 1 mile per $1 spent on all other purchases.

One of the key benefits of the United℠ Business Card is that it offers two one-time United Club℠ passes every year. Cardholders also receive a free checked bag for themselves and one companion on United-operated flights, priority boarding, and 25% back on United in-flight purchases.

CitiBusiness® / AAdvantage Platinum Select Mastercard

The CitiBusiness® / AAdvantage Platinum Select Mastercard is a great option for businesses that frequently fly with American Airlines. The card offers a sign-up bonus of 70,000 AAdvantage bonus miles after spending $4,000 in purchases within the first 4 months of account opening. Cardholders earn 2 AAdvantage miles for every $1 spent on eligible American Airlines purchases, telecommunications merchants, cable and satellite providers, car rental merchants, and gas stations. They also earn 1 AAdvantage mile per $1 spent on all other purchases.

The CitiBusiness® / AAdvantage Platinum Select Mastercard also offers a range of benefits that can help businesses save money on travel expenses. These include a free checked bag for the cardholder and up to four companions on the same reservation, priority boarding, and a $99 American Airlines Companion Certificate after spending $30,000 or more in a calendar year and renewing the card.

Additionally, cardholders can earn 5% AAdvantage mileage bonus on their annual spending, up to a maximum of 10,000 AAdvantage bonus miles per year. The card also comes with travel and purchase protection benefits, such as trip cancellation and interruption coverage, car rental insurance, and purchase protection against damage or theft.

Comparing the Four Business Credit Cards

All four of these business credit cards offer valuable rewards and benefits, but the right one for your business will depend on your specific needs and spending habits.

If your business spends a lot on travel, the Ink Business Preferred℠ Credit Card and United℠ Business Card offer great rewards and travel benefits. However, if you frequently stay at Marriott hotels or fly with American Airlines, the Marriott Bonvoy Business™ American Express® Card and CitiBusiness® / AAdvantage Platinum Select Mastercard respectively may be the better choice for you.

When it comes to sign-up bonuses, the Ink Business Preferred℠ Credit Card offers the largest bonus with 100,000 points, while the other three cards offer bonuses of 70,000 to 100,000 miles or points. The annual fees for these cards vary, with the Marriott Bonvoy Business™ American Express® Card having the highest annual fee of $125, followed by the Ink Business Preferred℠ Credit Card with an annual fee of $95. The United℠ Business Card and CitiBusiness® / AAdvantage Platinum Select Mastercard have annual fees of $99 and $99 respectively, but the CitiBusiness® / AAdvantage Platinum Select Mastercard's annual fee is waived for the first year.

How to Choose the Best Business Travel Rewards Credit Card

When choosing a business travel rewards credit card, there are several factors to consider to ensure you get the best value for your spending. Here are some key things to keep in mind:

Rewards Program

Look for a card that offers rewards points or cashback on business-related expenses such as travel, dining, and office supplies. Make sure to compare the rewards rates offered by different cards to see which one will give you the most rewards for your spending.

Sign-up Bonus

Many travel credit cards offer a sign-up bonus when you spend a certain amount within the first few months of opening the account. This can be a great way to earn extra rewards quickly, so make sure to consider the bonus offers when comparing cards.

Annual Fee

Some travel credit cards come with an annual fee, so make sure to compare the fees to see if the rewards and benefits offered by the card justify the cost.

Travel Perks

Look for a card that offers travel perks such as airport lounge access, free checked bags, and travel insurance. These perks can save you money and make your travel experience more comfortable.

Foreign Transaction Fees

If you travel internationally for business, make sure to choose a card that doesn't charge foreign transaction fees. These fees can add up quickly and eat into your rewards.

Credit Score

Keep in mind that travel credit cards typically require a good to excellent credit score. Make sure to check your credit score before applying for a card to ensure you are eligible.

By considering these factors and comparing different business travel rewards credit cards, you can choose the card that best fits your needs and helps you maximize your rewards.

Redemption Options

Check the redemption options for the rewards earned through the credit card. Some cards offer flexibility in how you can redeem your rewards, such as cashback, gift cards, travel bookings, or merchandise. Choose a card that offers redemption options that align with your travel needs and preferences.

Partner Programs

Some business travel rewards credit cards have partner programs that allow you to earn additional rewards or benefits when you use the card with certain hotels, airlines, or other businesses. Consider whether the partner programs align with your travel needs and preferences.

Customer Support

Look for a card that offers good customer support, especially for travel-related issues. Make sure the card provides 24/7 customer service and offers support for travel emergencies such as lost luggage or trip cancellations.

Budgeting and Expense Management Tools

Some business travel rewards credit cards come with budgeting and expense management tools that can help you track your spending and manage your expenses more efficiently. Consider these tools to help you stay on top of your finances and maximize your rewards.

In summary, when choosing a business travel rewards credit card, consider the rewards program, sign-up bonus, annual fee, travel perks, foreign transaction fees, credit score requirements, redemption options, partner programs, customer support, and budgeting tools. By taking these factors into account, you can find the best card to meet your business travel needs and earn the most rewards for your spending.

What Should You Consider Before Applying for a Business Credit Card?

Before applying for a business credit card, here are some important factors to consider:

• Credit Score: Your credit score is a major factor that lenders consider when deciding whether to approve you for a credit card. Make sure to check your credit score beforehand to ensure that you meet the card's requirements. A good credit score can also help you get better terms and lower interest rates.
• Rewards Program: Consider the rewards program offered by the card, including the rewards rate, redemption options, and any bonuses or perks offered. Choose a card that offers rewards that align with your business spending and travel needs.
• Fees and Interest Rates: Look for a card with reasonable fees and interest rates. Pay attention to the annual fee, foreign transaction fees, late payment fees, and other charges. Choose a card with a low or no annual fee, and avoid carrying a balance to minimize interest charges.
• Credit Limit: Consider the credit limit offered by the card and whether it's sufficient for your business needs. Make sure to use the credit limit responsibly and avoid maxing out the card, as this can hurt your credit score.
• Credit Card Issuer: Consider the reputation of the credit card issuer and its customer service record. Look for a card issued by a reputable bank with good customer support and online tools to manage your account.
• Business Expenses: Consider your business expenses and whether you can pay them off in full each month. Make sure to use the credit card responsibly and avoid carrying a balance or using it for personal expenses.

By considering these factors, you can choose a business credit card that meets your business needs and helps you maximize rewards while minimizing fees and interest charges. It's also important to read the card's terms and conditions carefully before applying to ensure you understand the card's fees, rewards, and other features.

How To Build Business Credit

Building business credit is an important step for any small business owner. Here are some key steps to take to establish and build business credit:

1. Incorporate Your Business: Incorporating your business as an LLC or corporation can help separate your personal credit from your business credit. This can help protect your personal assets and make it easier to establish business credit.
2. Obtain an Employer Identification Number (EIN): An EIN is a unique tax ID number that identifies your business. You can obtain an EIN from the IRS for free, and it is required to open a business bank account and apply for credit.
3. Open a Business Bank Account: Open a business checking account in your business name to establish a banking relationship and build credit history.
4. Pay Your Bills on Time: Pay your bills on time and in full to establish a positive payment history. This can help build your business credit score and make it easier to qualify for credit in the future.
5. Apply for Business Credit Cards: Applying for a business credit card can help establish credit history and earn rewards for business expenses. Choose a card with reasonable fees and interest rates, and make sure to pay your bills on time.
6. Obtain Trade Credit: Trade credit is credit extended by vendors or suppliers to help finance your business purchases. Establish relationships with vendors and suppliers and pay your bills on time to build your trade credit history.
7. Monitor Your Credit Report: Regularly check your business credit report to ensure that it is accurate and up-to-date. Dispute any errors or inaccuracies to improve your credit score.

By following these steps, you can establish and build business credit over time. Remember to be patient and consistent in your efforts, as building credit can take time and effort.

How Do You Apply for a Business Credit Card?

To apply for a business credit card, follow these steps:

Check Your Credit Score

Before applying for a business credit card, check your credit score to ensure that you meet the card's requirements. Many business credit cards require good to excellent credit scores, typically in the 680 to 750 range.

Research Business Credit Cards

Research different business credit cards and compare their features, such as rewards programs, interest rates, fees, and credit limits. Choose a card that best suits your business needs and credit profile.

Gather Business Information

Gather the necessary information to complete the credit card application, including your business name, legal structure, tax ID number, and annual revenue. You may also need to provide personal information, such as your name, address, and social security number.

Fill Out the Application

Fill out the credit card application online or in person, providing all of the required information. Make sure to read the terms and conditions carefully before submitting your application.

Wait for Approval

After submitting your application, wait for the credit card issuer to review your application and make a decision. This can take several days to several weeks, depending on the issuer.

Activate Your Card

Once you receive your credit card in the mail, activate it by calling the phone number on the card or by following the instructions provided. You can then start using your business credit card to make purchases and earn rewards.

Remember to use your business credit card responsibly by paying your bills on time and in full, avoiding carrying a balance, and using it for business expenses only. By using your business credit card wisely, you can establish credit history, earn rewards, and improve your cash flow.

Can Business Cards Be Used for Personal Expenses?

Business credit cards should primarily be used for business expenses only. While it may be tempting to use the card for personal expenses, it's important to keep business and personal finances separate. Here are a few reasons why:

• Tax Deductibility: When you use a business credit card for business expenses, those expenses are tax deductible. However, if you use the card for personal expenses, you may not be able to deduct those expenses on your taxes.
• Bookkeeping: Mixing personal and business expenses can make bookkeeping more complicated and time-consuming. Keeping business and personal expenses separate can make it easier to track your expenses and prepare financial statements.
• Liability: In the event of an audit or legal action, using a business credit card for personal expenses can make it harder to prove which expenses were for business purposes. This could result in a higher tax liability or legal fees.

That being said, there may be some situations where it's okay to use a business credit card for personal expenses, such as in an emergency or when traveling for both personal and business reasons. However, it's important to keep those expenses to a minimum and document them carefully. Overall, it's best to use a personal credit card for personal expenses and a business credit card for business expenses only.

Can a Personal Credit Card Be Used for a Business?

Technically, a personal credit card can be used for business expenses, but it's generally not recommended. Here are a few reasons why:

Liability: If you use a personal credit card for business expenses and run into financial trouble, you are personally liable for the debt. This means that your personal credit score could be affected if you can't pay the bill.

Tax Implications: If you use a personal credit card for business expenses, it can be more difficult to keep track of your business expenses for tax purposes. This can make it harder to claim tax deductions or provide accurate financial records for your business.

Bookkeeping: Using a personal credit card for business expenses can make bookkeeping more complicated, especially if you have a lot of transactions to sort through. Keeping business and personal expenses separate can help simplify your accounting and reduce the risk of errors.

Credit Limits: Personal credit cards typically have lower credit limits than business credit cards. If you have a lot of business expenses, you may max out your personal credit card and be unable to make necessary purchases.

If you're a small business owner, it's generally best to apply for a business credit card to use for business expenses. Business credit cards can help you establish a separate line of credit for your business, keep your business and personal finances separate, and often offer more benefits and rewards specifically designed for business owners.

What is the Difference Between Business and Consumer Credit Cards?

Business and consumer credit cards differ in several ways. Here are some of the main differences:

1. Credit Limit: Business credit cards typically have higher credit limits than consumer credit cards. This is because businesses often have higher expenses and need more purchasing power.
2. Rewards Programs: Business credit cards often offer rewards programs that are tailored to the needs of business owners. For example, a business credit card may offer bonus rewards for office supply purchases or travel expenses.
3. Fees: Business credit cards may have higher fees than consumer credit cards, such as annual fees or fees for additional cards. However, some business credit cards may waive these fees or offer other perks, such as free employee cards or expense management tools.
4. Liability: With consumer credit cards, the individual is typically liable for the debt. With business credit cards, the business is usually liable for the debt. This means that the business owner's personal assets are generally protected from business debt.
5. Credit Reporting: Business credit cards often report to business credit bureaus, while consumer credit cards report to personal credit bureaus. This means that using a business credit card responsibly can help build business credit history and improve a business's credit score.
6. Approval Criteria: Business credit cards may have different approval criteria than consumer credit cards. For example, the credit card issuer may look at the business's revenue and credit history, as well as the personal credit history of the business owner.

Overall, business credit cards are designed to meet the unique needs of business owners, with higher credit limits, tailored rewards programs, and other features that can help businesses manage expenses and build credit history.

Conclusion

The best business credit card for your organization will depend on your unique needs and spending habits. Consider the features and benefits of each card, along with any additional perks, and be sure to use your card responsibly to maximize its value for your business. With the right card in hand, you can streamline your operations, earn rewards, and build your credit history, all while helping your business thrive.