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8 Best Business Credit Cards of October 2023

Money’s top picks for business credit cards in 2023.

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7 months ago

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This article was originally published by Money

Money.com has partnered with CardRatings.com for our coverage of credit card products. Money.com and CardRatings.com may receive a commission from card issuers.

A great business credit card can simplify record-keeping, give your company steady purchasing power and help you earn plenty of rewards.

These types of credit cards can be valuable financial tools for established businesses, startups and even freelancers. They feature many benefits, like reward categories for advertising or shipping services and financial account management tools. Most lenders also provide free credit cards for employees, and you can create personalized credit limits for each to prevent unexpected expenses.

Read on for our list of the best business credit cards and how to pick the best one for you.

Our Top Picks for the Best Business Credit Cards

Best Business Credit Cards Reviews

Chase Ink Business Preferred Credit Card

Pros

  • 3x points on internet, cable, phone services, travel and more
  • Travel bonus category applies to airfare, hotels, rental cars and more booked through any platform
  • Points are worth 25% more when you redeem for travel through Chase travel portal
  • No foreign transaction fees

Cons

  • $150,000 annual cap on bonus rate
  • $95 annual fee

HIGHLIGHTS

Annual fee
annual_fees
Sign-up bonus
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Purchase protection, extended warranty, cell phone protection plan, trip cancellation/interruption insurance and primary car rental insurance

Why we chose it: This card’s bonus categories are ideal for small businesses, and it comes with valuable benefits that more than make up for its already low annual fee.

The card_name offers rewards on business-related expenses such as postal and freight services, social media advertising, satellite internet plans, airline tickets and more.

You can earn 3x points per $1 on up to $150,000 in combined purchases each card anniversary year on the following categories:

  • Shipping purchases
  • Advertising purchases made with social media sites and search engines
  • Internet, cable and phone services
  • Travel

As stated above, note that this rate only applies to the first $150,000 spent in combined purchases per year. After that, you’ll earn 1x point per dollar in those categories.

With this card, you can transfer accumulated points to over 10 airline and hotel partners, including Jetblue, United and Marriott. You can also redeem rewards through the Chase Ultimate Rewards® portal, where each point is valued at 1.25 cents a piece instead of the usual one cent, and offers dozens of offers from other companies as well.

Points are also valued at 1.25 cents each through the Pay Yourself Back program, which lets you redeem points as statement credits toward qualifying transactions. Through December 2023, donations to select charities (like the American Red Cross and Habitat for Humanity) qualify for the boosted reward rate, but Chase changes the categories every few months.

If you’re a small business owner and want to earn flexible rewards with some travel benefits, the Ink Business Preferred® Credit Card is an excellent choice. However, if your operational costs exceed $150,000 early in the year, you might do better with the Ink Business Premier℠ Credit Card. It has a steeper annual fee ($195), but it offers unlimited 2.5% back on every purchase of $5,000 or more and 2% on all other eligible business purchases.

Best for Customizable Rewards: Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card

Pros

  • Choose your preferred 3% bonus category (from a list of six)
  • Bank of America business checking account holders can earn 25-75% more cash back

Cons

  • Bonus categories have a combined annual spending cap of $50,000
  • Has foreign transaction fees

Why we chose it: The Bank of America® Business Advantage Customized Cash Rewards Mastercard® lets you choose your top-earning category from a list of six options, and you can change your pick as often as once a month.

Several no-annual-fee cards offer solid reward rates, but few allow cardholders to choose their top-earning category. With this card you can earn:

  • 3% cash back in the category of your choice: gas stations, office supply stores, travel, TV/telecom and wireless, computer services or business consulting services
  • 2% back on dining
  • 1% all on other eligible purchases

You can switch your 3% pick once a month, so if you plan ahead, you can maximize your earnings by tracking your business needs. For example, you could set travel as your preferred bonus category before a business trip and earn 3% back on the flight ticket, hotel, rental car, rideshare services (like Uber) and more.

However, keep in mind that the 3% and 2% cash back rates are limited to the first $50,000 spent in combined purchases yearly. Once you reach the cap, you’ll only earn 1% back.

The card’s bonus categories are even more lucrative if you qualify for the Bank of America Preferred Rewards for Business program. Under this program, cardholders can get up to 75% more cash back on their purchases. So instead of the default 3%, you could earn 5.25% back in your preferred category. (Note that, in order to qualify for the program, you must have a Bank of America business checking account and a three-month average daily balance of $20,000 or more in Bank of America and/or Merrill accounts.)

The customization capabilities of Business Advantage Customized Cash Rewards are enough to make it stand out. But in addition to that, the card features travel perks that aren’t typical for no-annual-fee cards, including auto rental insurance.

All information about the Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card has been collected independently by Money.com.

Chase Ink Business Cash Credit Card

Pros

  • No annual fee
  • Includes primary rental car coverage
  • 5% cash back on office supplies and cable, internet and phone services (on up to $25,000 yearly)
  • 2% cash back at gas stations and restaurants (on up to $25,000 yearly)

Cons

  • Spending cap on bonus categories
  • Foreign transaction fees

HIGHLIGHTS

Annual fee
annual_fees
Sign-up bonus
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Purchase protection, extended warranty and primary rental car coverage

Why we chose it: The Ink Business Cash® Credit Card is a solid no-annual-fee business credit card that offers generous rewards and several redemption options, including cash back and travel.

With the Ink Business Cash® Credit Card, cardholders can get cash back on office-related expenses, gas stations and restaurants. The card offers:

  • 5% cash back on the first $25,000 in combined yearly purchases at office supply stores and on internet, cable and phone services
  • 2% back on the first $25,000 spent per year in combined purchases at gas stations and restaurants
  • 1% back on all other eligible purchases

Note that, while the Ink Business Cash® Credit Card is advertised as a cash-back credit card, it actually earns points. These are typically worth around one cent each and can be redeemed as a statement credit, checking account deposit, gift cards, travel purchases and more through the Chase Ultimate Rewards® portal.

Keep in mind that the Ink Business Cash® Credit Card is not the best choice for companies with high operational costs. Businesses that spend more than $25,000 each year in this card’s reward categories might get more value from a card with higher spending caps, like the Ink Business Preferred® Credit Card.

Pros

  • No annual fee
  • Earns 2 Membership Rewards(R) points per dollar on eligible business purchases (up to $50,000 per year)
  • Can transfer your points to travel partners
  • Access to Expanded Buying Power that lets you spend above your credit limit (Terms apply)

Cons

  • Statement credits are worth only 0.6 cents per point
  • Secondary auto rental coverage***

Terms apply. Click here for applicable rates and fees.

HIGHLIGHTS

Annual fee
annual_fees
Welcome offer
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Secondary auto rental coverage***, extended warranty and purchase protection*

Why we chose it: Bonus categories can sometimes be limiting, especially if they don’t align with your spending habits. But with The Blue Business® Plus Credit Card from American Express, you can earn bonus points daily on most purchases without tracking bonus categories. (Terms apply.)

Instead of awarding bonus points or cash back for purchases that fall into specific categories (such as travel or gas stations), this American Express card offers:

  • 2x Membership Rewards® points per dollar spent on the first $50,000 in eligible purchases each year (1x point thereafter)
  • 1x on other eligible purchases
  • Terms apply

You can use your points through the American Express® travel portal (usually at a value of one cent per point) or transfer them to one of the issuer’s airline and hotel partners, which include Delta, Jetblue and Hilton. You can also use them to buy gift cards and make purchases at select online stores.

This card features American Express’ Expanded Buying Power, which lets you spend above your credit limit (up to a certain amount). How much extra credit you’re granted depends on your payment history, credit record and financial resources. Note that you must pay the amount spent over your credit limit in full each billing cycle, or you’ll incur interest and over-limit fees.

If you’re looking for a business credit card without an annual fee and with a simple reward system, The Blue Business® Plus Credit Card from American Express is a solid pick. However, note that this card is not ideal if you’d like to redeem your points for statement credits — points are valued at 0.6 cents per dollar this way.

If you prefer statement credit over travel rewards, consider The American Express Blue Business Cash™ Card. It gives you 2% cash back per dollar on the first $50,000 spent on eligible purchases annually, but your cash back is automatically processed as a statement credit at the end of each billing cycle. (Terms apply. To see rates and fees for The American Express Blue Business Cash™ Card click here.)

Pros

  • Unlimited 1.5x cash back for your business on all purchases
  • 5% cash back on hotels and rental cars booked through Capital One Travel
  • No yearly spending caps
  • No annual or foreign transaction fees

Cons

  • Few additional perks
  • No direct deposit redemption option

HIGHLIGHTS

Annual fee
annual_fees
Sign-up bonus
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Extended warranty and purchase protection

Why we chose it: The card_name offers a higher base-reward rate than other no-annual-fee business cards, and cardholders can earn unlimited cash back on all eligible purchases.

Most cash-back cards without an annual fee earn 1% back on eligible transactions, and their higher rewards are limited to specific spending categories. They typically also have yearly or quarterly spending caps.

The Capital One Spark Cash Select, on the other hand, has no caps. Your business could earn:

  • 5% cash back on hotels and rental cars booked through Capital One Travel
  • 1.5% cash back on all other eligible purchase

Additionally, while most cards without annual fees charge around 3% on each transaction processed outside of the U.S., the Spark Cash Select doesn’t charge any foreign transaction fees.

You can redeem your cash back as a statement credit or a check. (Other cash back business cards with no annual fee and similar reward rates only provide statement credits.) You can also set up automatic redemptions to get your cash back at a set time each year or when you’ve accumulated a specific dollar amount.

Overall, this card is ideal for business owners who don’t want to keep track of spending categories and yearly caps. However, it doesn’t offer rewards specifically for business categories, so businesses with high operational expenses should consider a card like the Ink Business Preferred® Credit Card, which offers rewards specifically for categories such as shipping services or advertising.

Pros

  • Unlimited 1.5x points on purchases made for your business
  • No yearly spending caps
  • Primary rental car insurance
  • No annual fee

Cons

  • No bonus categories
  • Foreign transaction fees

HIGHLIGHTS

Annual fee
annual_fees
Sign-up bonus
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Extended warranty, purchase protection and primary car rental insurance

Why we chose it: The card_name is an excellent option for business owners who prefer a simple earning structure and flexible redemption options.

With the Ink Business Unlimited® Credit Card, you can earn 1.5% back on all eligible purchases made for your business without any yearly caps, and you can redeem your rewards for statement credits or direct deposits (to checking and savings accounts).

And while this card is marketed as offering cash back, it actually gets Chase Ultimate Rewards® points that can also be redeemed for travel, gift cards, products and other services available through the Chase Ultimate Rewards® portal.

You can also transfer your points to other cards that earn Chase Ultimate Rewards® points, such as the Ink Business Preferred® Credit Card and Ink Business Cash® Credit Card.

While the Ink Business Unlimited® Credit Card provides more redemption options than the Capital One Spark Cash Select, it doesn’t offer any additional bonus categories, and it charges a 3% foreign transaction fee. However, it provides primary car rental insurance, which the Capital One card doesn’t and is quite uncommon among no-annual-fee cards.

All in all, both cards are excellent cash-back credit cards. The Capital One Spark Cash Select is a great choice if you’re looking for a no-annual-fee business credit card to use while traveling internationally. However, the Ink Business Unlimited® Credit Card might be a better fit if you want more redemption options or already own other Chase cards and can benefit from its point-pooling possibilities.

Pros

  • Comprehensive travel insurance*
  • 5x points on flights and prepaid hotels booked through amextravel.com
  • Transfer points to travel partners, like Delta and Marriott
  • Access to more than 1,400 airport lounges worldwide (enrollment required)

Cons

  • $695 annual fee
  • Car rental insurance is secondary**
  • Statement credits are worth only 0.6 cents per point

(Terms apply. Click here for applicable rates and fees.)

HIGHLIGHTS

Annual fee
annual_fees
Welcome offer
bonus_miles_full
Regular APR
reg_apr,reg_apr_type
Intro APR
intro_apr_rate,intro_apr_duration
Recommended credit
credit_score_needed
Insurance and protections
Purchase protection, extended warranty, car rental coverage, baggage damage or loss and trip cancellations, interruptions and delays*

Why we chose it: The Business Platinum Card® from American Express is an excellent business and travel credit card featuring an extensive list of benefits that few other cards can match.

The card provides yearly statement credits for purchases made at Dell, Indeed, Adobe and/or U.S. wireless telephone providers. (Enrollment required.) Additionally, it offers:

  • 5x points on flights and prepaid hotels booked through the amextravel.com portal
  • 1.5x points (up to the first $2 million spent combined each year) on eligible purchases at U.S. construction material and hardware suppliers, electronic goods retailers, software and cloud system providers, and shipping providers
  • 1.5x points (up to the first $2 million spent combined each year) on eligible business purchases of $5,000 or more, regardless of the category
  • Terms apply

The card also features perks that make it an excellent travel credit card, including a wide variety of statement credits. For example:

  • Up to $200 per year in airline fee credits to cover checked bags, in-flight refreshments and other incidental fees charged by the airline to your Business Platinum Card® (must select a qualifying airline)
  • $100 credit for Global Entry or $85 for TSA PreCheck® (every 4 or 4.5 years, respectively) ​​when you use your Business Platinum Card® to enroll
  • Up to $189 for CLEAR® Plus membership once per year (subject to auto-renewal) when you pay for membership using your Business Platinum Card®
  • Access to over 1,400 airport lounges worldwide (enrollment required for Priority Pass Select)
  • Terms Apply

You also get a 35% point refund when redeeming points through the American Express Travel portal for first- or business-class tickets (up to 1,000,000 bonus points back per calendar year). The refund is also available when cardholders book any service class ticket with a pre-selected airline. (Customers can pick a preferred airline once per year.)

Note, however, that to receive the rebate, you’ll first need to have enough points saved to cover the total amount of the flight you’d like to book.

The Business Platinum Card® from American Express has one of the steepest annual fees ($695) in the market. However, it’s well worth it if you travel enough to take advantage of its extensive list of benefits.

Chase Business Premier Credit Card
Courtesy of Chase

Pros

  • 2.5% cash back on eligible purchases of $5,000 or more
  • 2% cash back on all other business purchases
  • Includes travel protections like primary auto rental and trip cancellation/interruption insurance
  • Cell phone protection plan for all devices listed on your monthly bill

Cons

  • $195 annual fee
  • Can’t combine rewards with other Chase cards or transfer to travel partners
  • Purchases must be paid in full every month if they don’t qualify for Flex for Business

HIGHLIGHTS

Annual fee:
annual_fees
Welcome offer:
bonus_miles_full
Regular APR:
reg_apr,reg_apr_type
Intro APR:
intro_apr_rate,intro_apr_duration
Recommended credit:
credit_score_needed
Insurance and protections:
Auto rental insurance, Trip cancellation/ interruption insurance, Purchase protection, Cell Phone protection, Extended warranty protection

Why we chose it: The Ink Business Premier℠ Credit Card is a good option for businesses that often make large purchases of $5,000 or more.

With the Ink Business Premier℠ Credit Card, cardmembers can earn:

  • 5% total cash back on travel purchased through the Chase Ultimate Rewards® portal
  • 2.5% cash back on every purchase of $5,000 or more
  • 2% cash back on all other eligible business purchases

Additionally, it offers 5% back on Lyft rides through March 2025.

This card gives cash back in the form of Chase Ultimate Rewards® points. These have a value of one cent per point and can be used for cash, gift cards, travel purchases and for products or services through the Chase Ultimate Rewards® program or directly from third parties.

However, you can’t transfer your points to travel partners or other Chase cards, and you won’t get a higher redemption value if you use them to book travel through the Chase Ultimate Rewards® portal either. (These options are available with other Chase business cards.)

Keep in mind that the card is what Chase calls a Pay in Full business card — this means you can pay the entire balance in full by the due date and avoid interest charges, or use the Flex for Business feature for qualified charges of $500 or more.

This feature gives the card more flexibility, but some might consider it a hassle to track which transactions must be settled by the end of the month and which can be paid over several months. However, this shouldn’t be an issue if you consistently pay your bill in full each month — which is recommended to avoid paying interest charges.

As previously mentioned, the Ink Business Premier℠ Credit Card is best suited for businesses with frequent large purchases of $5,000 or more which can take full advantage of the 2.5% rate. If that’s not your case, consider a card with a lower annual fee, like the Ink Business Preferred® Credit Card.

Other business credit cards we considered

American Express® Business Gold Card

American Express Business Gold Card
Courtesy of American Express

Pros

  • Earn 4x Membership Rewards(R) points on the two categories where your business spends the most each billing cycle from 6 eligible categories (on the first $150,000 in combined purchases each calendar year) (1x points thereafter)
  • Includes car rental, trip delay and baggage insurance*
  • Benefits at over 700 hotels (when you book two or more nights)

Cons

  • Auto rental coverage is secondary***
  • Statement credits are worth only 0.6 cents per point

Terms apply. Click here for applicable rates and fees.

HIGHLIGHTS

Annual fee
annual_fees
Welcome Offer
bonus_miles_full

With the American Express® Business Gold Card, you can earn 4X Membership Rewards® points on the top two categories (from six eligible ones) where your business spends the most each billing cycle, making it ideal for business owners whose expenses often change.

Your top earning categories may change monthly; however, the bonus rate is limited to the first $150,000 spent in combined purchases (1x point after that). Also, note that only the purchases that fall in your top two spending categories each billing cycle will count towards the card’s $150,000 annual cap.

The categories that qualify for the 4x bonus rate include:

  • U.S. purchases with media providers for advertising in select media (online, TV, radio)
  • U.S. purchases at gas stations
  • U.S. purchases at restaurants, including takeout and delivery
  • U.S. purchases made from electronic goods retailers and software & cloud system providers
  • Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.
  • Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways
  • Terms apply

You can also earn 3x points on flights and prepaid hotels booked at AmexTravel.com.

Additionally, you get several benefits, including up to $20 in statement credits monthly when you use your American Express® Business Gold Card for eligible U.S. purchases at FedEx, Grubhub and select office supply stores. (Enrollment required.)

However, the card’s bonus offer is limited to the first $150,000 spent on combined purchases per year; after that, you only get 1x per dollar. Considering this card’s high annual fee ($295), you might be better off with another one if you don’t spend much in the Amex card’s select bonus categories.

Capital One Spark Cash Plus

Courtesy of Capital One

Pros

  • Unlimited 2% flat-rate back on all purchases
  • Get $150 statement credit yearly if you spend at least $150,000 by your membership anniversary date
  • Includes car rental insurance
  • No preset credit limit

Cons

  • $150 annual fee
  • Few extra benefits
  • Balance must be paid in full each month

HIGHLIGHTS

Annual fee
annual_fees
Sign-up bonus
bonus_miles_full

The Capital One Spark Cash Plus earns 5% cash back on hotels and rental cars booked through the Capital One travel portal and 2% back on all other purchases, with no category restrictions or spending caps.

The Capital One Spark Cash Plus is a charge card, which means it’s not issued with a preset spending limit (also known as credit limit). Each transaction is approved individually based on a person’s income and credit record. This gives business owners with an excellent credit history more flexibility if unexpected expenses arise, allowing them to use their card without worrying about reaching a specific cap.

The downside to charge cards is that their balance must be paid in full each month or else you’ll get charged a fee — unlike standard credit cards that let you accrue a balance as long as you make a minimum payment each month.

The Capital One Spark Cash Plus didn’t make our list because it offers few benefits when compared to other cards with a similar or lower annual fee ($150). However, it does include car rental insurance, roadside assistance (with a cost per service) and travel emergency assistance. It also offers an extended warranty on eligible items purchased with the card, but this feature is available even with most no-annual-fee credit cards.

Wells Fargo Business Elite Signature Card

Pros

  • Earn either 1.5% back on eligible purchases or 1% plus an extra 5,000 points if you spend $10,000 or more monthly
  • No foreign transactions fees
  • Includes travel accident insurance, auto rental coverage and lost luggage reimbursement

Cons

  • No longer accepting new applicants
  • $125 annual fee
  • Rewards are credited quarterly
  • Aimed at businesses with annual sales over $1 million

HIGHLIGHTS

Annual fee
$0 first year, then $125

The Wells Fargo Business Elite Signature lets users choose if they’d prefer to earn cash back or reward points, and each option has a different reward rate.

With the cash-back option, cardholders get an unlimited 1.5% back on all eligible purchases. The points option, on the other hand, earns only 1% back, but you receive an additional 5,000 bonus points each monthly billing cycle you spend $10,000 or more.

The card includes some valuable benefits, such as insurance for travel accidents, rental cars and lost luggage. It also offers a yearly $100 reimbursement for incidental travel fees (like seat upgrades) and doesn’t charge any foreign transaction fees, making it a solid option for business trips.

However, while most credit cards let you redeem your cash back or use your points each month, Wells Fargo Business Elite Signature credits rewards quarterly. This means rewards are only available in March, June, September and December.

All information about the Wells Fargo Business Elite Signature has been collected independently by Money.com.

Wells Fargo Business Platinum Credit Card

Pros

  • Earn unlimited 1.5% cash back
  • No foreign transactions fees
  • Includes auto rental and travel accident insurance

Cons

  • No longer accepting new applicants
  • Rewards are credited quarterly

HIGHLIGHTS

Annual fee
$0

Why we chose it: The Wells Fargo Business Platinum Credit Card is another solid pick if you want to earn unlimited cash back without worrying about spending caps or tracking bonus categories.

The Wells Fargo Business Platinum Credit Card offers unlimited 1.5% cash back on every purchase. You can get your money back as a statement credit or a deposit to an eligible Wells Fargo checking or savings account.

The downside is that the cash back is credited quarterly (March, June, September and December). It also doesn’t feature any additional bonus categories like other credit cards with no annual fee.

If you’d rather access your rewards monthly, you can choose to earn points instead. These can be redeemed for gift cards, merchandise, travel bookings and more. However, if you sign up for the reward points program, you’ll get one only point for every dollar — each valued at around one cent. Cardmembers who spend $1,000 or more on a billing cycle are also awarded 1,000 extra points.

All information about the Wells Fargo Business Platinum Credit Card has been collected independently by Money.com.

Business Credit Cards Guide

Business credit cards do more than offer high rewards on business expenditures. They separate your business and personal finances and help you build business credit, which is essential as your company’s needs grow. They can also give your business greater spending flexibility.

Read on for an overview of how these cards work and how to choose the best business credit card for you.

What is a business credit card?

Business credit cards provide business owners with a separate line of credit from their personal ones, which can make keeping track of a company’s expenses or filing taxes more efficient.

These cards are designed with businesses in mind, and often feature higher credit limits than personal credit cards and free employee cards with customizable spending limits. They also include account management tools such as automated quarterly and year-end summaries and free access to accounting programs, like Quickbooks.

Business credit cards offer generous rewards for everyday business expenses, including office supplies, phone plans and social media advertising. And most cards also have additional bonus rates for popular everyday spending categories like dining, gas and travel.

How do business credit cards work?

While they differ in some ways, business credit cards work pretty much in the same way as personal cards do.

With the exception of charge cards, both business and personal cards give users access to a revolving line of credit, meaning you can make purchases or take out cash advances up to a certain amount, known as the credit limit.

You’ll receive an account statement at the end of each billing cycle disclosing the total amount owed and a minimum amount due. Paying the full balance is recommended to avoid paying interest charges and late fees and to keep your account in good standing. Making the minimum payment also allows you to avoid late fees, but it’s not recommended as you’ll start raking up interest charges on your remaining balance.

What is a business credit score?

Business credit scores are calculated based on your business’s credit report, which can include details such as the number of employees, debt owed and payment history. Similar to your credit score, a business credit score tells issuers how likely or not a company is to pay back debt.

Most business credit scores are ranked on a scale of 0 to 100. For example, the PAYDEX scoring system by Dun & Bradstreet classifies companies with ratings of 80 or more as prompt payers, while those with scores below 50 are at a high risk of making payments 30 or more days past due.

If you’d like to check out your company’s credit score, you’ll have to either pay a one-time fee or subscribe to the bureaus’ credit monitoring services. Here’s where you can request the report and score of each business credit bureau:

Do note that to get a business credit score from Dun & Bradstreet, you first need a D-U-N-S (Data Universal Numbering System) number. You can request one for free here.

What is an EIN number?

An Employer Identification Number, or EIN, is a unique nine-digit number issued to your business by the Internal Revenue Service (IRS). An EIN is necessary to file taxes, open a business bank account and apply for business licenses and credit cards.

Independent contractors and freelancers are generally not required to have an EIN; only business owners with employees do. However, there are exceptional cases, so check out this guide from the IRS to check if you need an EIN. You can apply online using the IRS’s EIN Assistant if you need one.

Types of business credit cards

Here’s a rundown of how the differences between the three main types of business credit cards:

Small business credit cards

Most business cards are available for all business sizes; however, some cards offer perks and benefits that could benefit businesses that don’t have the staff or level of operational expenses that big corporations have. These business cards can benefit small businesses and even individual freelancers.

Like consumer credit cards, small business credit cards have point programs that allow the primary cardholders to earn points for rewards such as hotel nights, flight tickets, cash back and gift cards.

Other business credit cards earn cash back rewards, which can typically be redeemed as statement credits or checking account deposits. However, nowadays, it’s common to find business cards that are advertised as cash back credit cards but also let cardholders redeem their rewards as gift cards, travel bookings or through online store checkouts, for example.

Most small business credit cards require a personal guarantee, which means that if the company ever goes bankrupt or is behind on payments, you’ll be personally liable for the remaining debt on the card.

Corporate credit card

Corporate credit cards are usually geared towards larger corporations with a well-established business history, significant revenue and hundreds or more employees.

A business must be registered as C-Corp, S-Corp or LLC to qualify, not as a sole proprietorship or partnership (although some card issuers welcome all business structures). Also, the company is responsible for paying the card, not the owner directly. This means that approval of the account is based mainly on the company’s finances — unlike small business cards, which take into account an individual’s credit report.

Besides these features, corporate cards are no different from small business ones. They both offer reward rates for spending categories and may feature business and travel perks such as statement credits for software purchases or discounted airfare.

Charge cards

Business charge cards don’t have pre-set spending limits like regular credit cards do. Instead, they must be paid in full each month and do not give the option of making minimum payments. Because you’re paying your debt in full every month, these cards don’t charge interest either. If the bill is not paid on time at the end of a billing cycle, you’ll incur late fees and other penalties, depending on your card’s agreement.

Not having an established credit limit doesn’t mean charge cards can be used indiscriminately. Each transaction you make is approved individually based on your income and payment history.

Business credit cards vs personal credit cards

One of the main differences between business and personal credit cards is to which credit agencies issuers report their activity and how they impact your credit history.

The account activity on personal credit cards gets reported to the three major credit bureaus — Experian, Equifax and TransUnion. These agencies collect consumer financial information, such as payment history and monthly balances, so personal credit cards directly impact your credit report.

On the other hand, activity on business credit cards gets reported to business credit bureaus, such as Dun & Bradstreet. For this reason, business credit cards generally don’t affect your personal credit score. However, while business card issuers mainly report to business credit bureaus, they might report late or missed payments to consumer credit agencies, which impacts your financial history and odds of getting approved for new credit lines.

Another difference between personal and business credit cards is that the latter are not protected by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). This act includes several consumer protection provisions, such as a requirement that credit card issuers alert customers of interest rate hikes at least 45 days in advance.

However, although the CARD Act only applies to consumer credit cards, some business card issuers do add similar protections to their cards by choice.

How to choose a business credit card

To pick a card that fits your needs, review your business’s bills and determine your main spending categories. This can help narrow your options by focusing on cards with bonus categories that fit your daily spending.

You should also consider if the bonus categories have quarterly or annual spending caps, as this can limit some businesses’ reward-earning potential.

Beyond reward rates, you should compare cards based on their fees and interest rates. For example, if you travel often, you may want a card that doesn’t charge foreign transaction fees.

Lastly, while welcome offers can be enticing, focusing on ongoing benefits and redemption options is best. These extra perks often determine how valuable a card can be for you. For example, you might benefit more from a card that provides cash back rather than one that only permits travel-related redemptions.

How to get a business credit card

Before applying for a business credit card, you should evaluate your credit history to get an idea of what lenders will see. Watch out for inaccurate or outdated information on your credit report that might be lowering your credit score, and if you find any, dispute it. (Check out How to Dispute Your Credit Report for more information.)

Besides checking your report, creditors will also ask for detailed information about your company’s revenue and expenses. Providing as much documentation as possible will help you accelerate the process and improve your approval odds.

Business credit card requirements

Most card applications can be completed online in a couple of minutes. Here are some details you’ll likely need to provide during the process:

  • Legal name
  • Date of birth
  • Social Security number
  • Home address
  • Email address
  • Phone number
  • Annual income
  • Business name and contact information
  • Number of employees
  • Business type and category
  • Legal business structure
  • Employer identification number (EIN)
  • Estimated revenue
  • Monthly expenses

Pros and Cons of having a business credit card

Pros

  • Some cards offer high rewards on business-related spending categories, like office supply stores and internet plans.
  • Cards include account and expense management tools, such as year-end account summaries and bookkeeping software.
  • You can give cards to each of your employees, assign separate credit limits and monitor their spending.

Cons

  • Most require a personal guarantee, which means you’ll be personally liable for any debt even if the business fails.
  • Their highest reward rates are limited to business purchases.
  • To qualify, the card issuer will look into your personal credit history and credit score. A poor credit history will lower your approval odds.

Latest News in Business Credit Cards

Business Credit Cards FAQ

How to get approved for a business credit card

You first need to apply for the card online or in person. Be ready to provide information such as the business address, type of business, annual revenue, employer identification number or Social Security Number. Once you complete your application, the credit card issuer will review your personal and business credit report to determine how likely you are to pay back any debt you incur.

You’ll often get a decision within minutes or less. If not, the issuer might ask for additional documents, so be ready to provide financial records, including financial statements, income tax returns, and bank statements.

How to get the most out of your business credit card

Try to use your rewards credit card as often as possible so you can rack up points or cash back. You should also pay your bill in full every month to avoid interest charges and credit card debt. Also, note that some credit card fees are tax deductible if you use your card to cover business expenses exclusively.

What is the best business credit card?

The best credit card for your business depends on your company’s needs. When comparing credit card offers, take the time to evaluate reward rates and ongoing benefits, as well as fees and interest rates. We found that some of the best business credit cards offer high rewards on office supplies, phone plans and media advertising purchases, like the Ink Business Cash(R) Credit Card and the The Business Platinum Card(R) from American Express.

How do you check your business credit score?

To check your company’s score, you have to either pay a one-time fee or subscribe to a credit monitoring service by one of the business credit bureaus — Dun & Bradstreet, Equifax and Experian.

Who can apply for a business credit card?

Anyone who operates a business can apply for a business credit card, whether it is a sole proprietor, partnership, corporation or limited liability company.

How We Chose the Best Business Credit Cards

We evaluated dozens of business credit cards based on their rewards rates, ongoing benefits, fees and redemption options.

  • Reward programs. We evaluated the rewards programs of each card and considered how their spending categories could help businesses maximize earnings.
  • Ongoing benefits. We preferred cards that feature several ongoing benefits, like extended warranty, purchase protection, rental car insurance, travel coverage and more.
  • Introductory offers. If some cards had similar bonus rates and benefits, we compared their welcome bonuses and introductory APR offers.
  • Fees. We considered each card’s annual, foreign transaction, cash advance and balance transfer fees.

Summary of Money’s Best Business Credit Cards of September 2023

To see rates and fees for The Blue Business® Plus Credit Card from American Express, please visit this link. Terms apply.

To see rates and fees for The Business Platinum Card® from American Express, please visit this link. Terms apply.

To see rates and fees for the American Express® Business Gold Card, please visit this link. Terms apply.

* Insurance disclosures for American Express Cards on this page:

Trip Delay Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Global Assist Hotline: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.

Extended Warranty, Purchase Protection, Baggage Insurance Plan: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Car Rental Loss & Damage Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.6 Best Business Credit Cards of May 2023

** Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

*** Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.



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