Small-business credit cards are becoming a go-to option for business financing, especially for entrepreneurs who can’t get traditional business loans or don’t have wealthy family members, friends, or colleagues to lean on. Regardless of your business type, a credit card can be a great help, provided you use it wisely and avoid spending beyond your means.
Small-business credit cards usually offer higher spending limits and more generous rewards programs than consumer cards. Some even offer extra perks like low APRs, balance transfer promotions, personalized concierge service, and additional benefits. However, many require good or excellent credit to qualify and come with annual fees. So, if you’re going to shell out for a credit card, make sure you choose one with the best features for your business.
Here are some of the best small-business credit cards currently available. They include a variety of low-interest credit cards, travel rewards credit cards, cash-back credit cards, and general-purpose rewards cards.
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Ink Business Preferred® Credit Card: This card is a favorite among Chase small-business card users. It offers a sign-up bonus, rewards for spending on travel, shipping, telecommunications, and advertising, and an attractive points transfer feature. It also includes cell phone protection, rental car coverage, trip cancellation and interruption insurance, and no foreign transaction fee. The annual fee is $95.
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Ink Business Unlimited® Credit Card: This no-annual-fee business credit card offers unlimited 1.5% cash back on most purchases. It also includes cell phone protection, rental car coverage, and additional travel insurance coverage.
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Ink Business Cash® Credit Card: This card offers a generous cash-back rewards program, an above-average sign-up bonus, and an attractive 0% intro APR promotion. It’s a great choice if your business spending is focused on office supplies, telecommunications, fuel, and dining.
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BMO Business Platinum Rewards Credit Card: This card offers up to 5x points for every $1 spent on eligible purchases and an above-average number of purchase categories that earn above the baseline 1x rate. Points don’t expire as long as your account remains open and in good standing.
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The Business Platinum Card® From American Express: This card is fantastic for business travelers. It offers extensive perks for frequent travelers and an excellent welcome offer.
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Ink Business Premier® Credit Card: This card offers an above-average baseline cash back, especially on big purchases, extensive Chase Travel℠ benefits, and an above-average sign-up bonus.
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Ramp: This simple Visa business credit card offers a truly limitless supply of physical and virtual cards. It also offers advanced card controls and the ability to customize your cards’ branding at no additional cost.
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Delta SkyMiles® Reserve Business American Express Card: This card is designed for frequent flyers who like to travel in style. It offers an above-average welcome offer and lots of potentially valuable Delta perks.
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Marriott Bonvoy Business® American Express® Card: This card is the best for business travelers who regularly stay in hotels. It offers an unusually generous status benefit, multiple opportunities to earn free nights at Marriott properties, and an above-average rewards scheme.
Remember, the best small-business credit card for you depends on your business’s specific needs and spending habits. Consider your top spending categories, how much you spend in a typical month or year, which benefits you value most, whether you need short-term financing to reach a key milestone, and how many people in your organization are authorized to use a company credit card. Your answers to these questions can guide you toward the right card for your needs.
