Credit Cards
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and
Christina Ly
Credit cards writer
Christina Ly is a writer at TPG. She has covered credit cards and personal finance topics since joining the team in 2022.
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Edited by
Eric Rosen
Director of travel content
TPG's director of travel content Eric Rosen has used points and miles to visit some of the world's most remote corners, including swimming with whale sharks off Western Australia's Ningaloo Coast, exploring the wilds of Botswana's Okavango Delta and tasting the high-altitude wines of Argentina's Mendoza region.
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Reviewed by
Stanley Sanford
Senior compliance associate
Senior compliance associate Stanley Sanford has years of compliance experience in the credit card industry dating back to 2017. He's reviewed content for several reputable sites, including CreditCards.com, Bankrate, CNET. and even thepointsguy.com before leading the compliance team for The Points Guy full time in early 2022.
March 01, 2024
Thebest business credit cardsoffer generous earning rates, lucrative perks and additional features to affect both your bottom line and your operational efficiency. Selecting the right business card allows you to earn rewards while focusing on the day-to-day operations of your enterprise — whether you own a formal business with multiple employees, are just getting your company off the ground or simply do freelance work as a side gig.
Business credit cards allow you to separate business and personal spending. In addition, they allow you to access more rewards and unique perks that aren’t typically offered on personal credit cards. Consider where your business spends the most and what type of rewards you want to earn when selecting your business card — or cards.
Check out our curated selection and comprehensive guide on some of the best business cards from our partners below.
At The Points Guy, our goal is to help you maximize your travel experiences while minimizing spending. Our travel and credit cards experts share their own experiences and give honest analyses to help you make decisions that benefit you the most. While we do receive compensation through our credit card application links, ads, and clearly indicated sponsored content, our editorial content, points valuations and card analysis are entirely our own.
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Comparing the best business cards
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More details on the best credit cards
Credit pointers with Brian Kelly
Maximize business credit cards for huge value
54 sec video
Maximizing business credit cards
Use it as often as possible
The more you use your card, the more points and rewards you’ll earn. It can be strange to switch up spending habits but try to switch to using your business credit card as your go-to option rather than cash, debit, bank transfers, or other payment methods.
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Use it for all business expenses and pay it off every month
You can maximize your business credit cards by charging all business purchases to your credit card. This is a great way to keep your business expenses separate from personal expenses as well as maximize the return on your spending. Most credit cards geared toward small businesses offer at least 1% cash back or 1 point per dollar spent. The right credit card for your business will likely offer even higher returns. By putting all of your expenses on a business credit card, you will earn more rewards!
But this does not mean you should spend money you wouldn’t have otherwise spent. Charging everything on your business credit card is a means to earn rewards on spending that would’ve occurred anyways.
Finally, be sure to pay off your balance in full every month to avoid interest and fees that could cancel out any rewards you earn.
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Consider multiple cards for different expenses
If you’re a small business, it is likely that your spending is not concentrated on one category. Luckily, many business cards offer various bonus categories. In order to receive the most return on your spending, consider having multiple cards that earn an elevated return on your business’s various main spending categories. Then, cover your bases with a solid flat-rate card for every purchase you make that doesn’t fall into an eligible category.
However, if that’s too much for you to manage, aim for that sweet spot of a card with a lucrative rewards structure and affordable annual fee.
How we rate cards
Our top picks for business credit cards offer important features like bonus rewards on business spending and free authorized user cards for employees. So whether you run your own enterprise solo or have several employees on your roster, there’s a business card to suit your specific needs. To learn more about how TPG evaluates and chooses cards for our roundups, check out our methodology here.
Welcome bonusThe best business cards feature solid welcome bonuses that can maximize value for your business.
Annual feeOur best business cards feature annual fees that fit smaller and larger budgets.
Earning ratesWe chose cards with elevated earning rates across various business expenses.
Redemption optionsOur best business cards have various redemption options, providing flexibility for business owners.
Added benefitsThe value of additional business-related perks on the card was factored into our ratings.
What is a business credit card?
Many travelers are familiar with personal credit cards, but business credit cards are an entirely different segment of the market. These products are generally geared toward those who run small businesses, and as such, they frequently include perks that are valuable to a business owner — including features like no preset spending limit, bonus rewards on shipping or technology purchases, and even statement credits toward software purchases.
Note that you don’t necessarily need a formal business to apply (and get approved) for a business credit card. Many freelancers or sole proprietors can use a business card to separate business-related expenses from their personal ones.
Types of business credit cards
Having a business credit card is important for both small businesses and larger corporations. The primary difference between a small business card and a corporate business card is who is liable for the debt and fees.
Small Business
Small businesses hold the primary cardholder liable for debts and fees and the primary cardholder earns the rewards for small business cards.
Corporate
Corporate cards hold the company liable for debts and fees and the company generally keeps the rewards for corporate cards.
How to apply for a business credit card
If you own a small business or just do freelance gigs, you could be eligible for a business credit card. You don’t necessarily need a tax ID or an Employer Identification Number (EIN) to qualify for a business credit card; if you’re a sole proprietor with a small business or side gig, you can usually enter your Social Security number (SSN) instead.
How do Business cards work?
When you’re approved for a business credit card, your company is essentially taking out a loan with the issuing bank. You can then use the card to make purchases, but you need to pay off the loan according to the terms. And each time you swipe it, you’re earning rewards that can be used in a variety of ways — including reinvesting them right back into your business.
Information you’ll need to provide
When filling out an application form for a business credit card, there are some extra pieces of information required in addition to what you might provide for a personal credit card application.
This is likely to include:
The name of your business
When you start your application, you might not be sure what name to put on a business card application. If you’re the sole owner of your small business, you might not even have a designated name for it. If this is the case, don’t worry, you’re allowed to use your own name instead.
Contact information
Similarly, if you don’t have a separate business contact number and mailing address, you can also use your own here too.
A Taxpayer Identification Number
There are two numbers you could use for this, depending on how your business is set up. If you’re the sole business owner, you can use your Social Security number. Or, in the instance that you employ staff or have a more formal business structure, then you should use your business’s Employer Identification Number. You can easily get an EIN on the IRS website.
Your industry
It’s up to you how you want to describe your business; you can either use more rigid categories like travel, food and drink, or retail, or you can describe the exact service you provide should your business type not fall into those categories.
How long you’ve been in business
This one’s pretty self-explanatory.
Revenue and expenses
This is the part where you enter how much money your business makes and how much your outgoings were to run your business.
What you do not need
A specific business type
Whether you have a structured company, LLC or partnership, or you operate without a formal or legal business structure, you’re still perfectly eligible to apply.
Business credit history
In most cases, your small business credit card would be guaranteed by you personally and not the business itself. This means that you won’t be required to include an existing credit history for your business.
Check out the following guides to applying for small-business cards for issuer-specific strategies:
- How to fill out an Amex business card application
- How to complete a Chase business credit card application
- How to complete a Capital One business credit card application
Related: 5 ways you might be eligible for a business credit card without realizing it
How to choose the best business credit card
There’s no single best business card. Instead, the best business card for your small business depends on various aspects. For example, do you prefer earning cash-back rewards, airline miles, hotel points or transferrable currencies? Are you willing to pay an annual fee? What categories does your business spend the most in each year? Do you or your employees travel frequently, and if so, would there be a benefit in having hotel elite status or a checked bag allowance when flying?
Here are some of the main points to consider when choosing a business credit card:
1
Sign-up bonus
Find a card that your business can readily meet the minimum spend for its sign-up bonus. A welcome bonus plays a large part in a card’s value as it typically offers more points than can be earned through general business spending.
2
Annual fee
If your card features an annual fee, it is important to consider if the card’s perks and benefits outweigh the card’s annual fee.
3
Bonus categories
Choose a business card that features elevated earning rates on your regular business spending.
Business credit cards: What they are and how they work - The Points Guy
Everything you need to know about business cards
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What's your favorite business credit card — and why?
Apply for Capital One Venture X Business
Capital One Venture X Business
Huge welcome offer and a ton of perks
"Capital One lounges are a true destination unto themselves, and as someone who values time with my son, I can spend time in the family room or even get a Peloton or yoga session in between flights — and I get unlimited access with Venture X Business."
Brian KellyFounder and “The Points Guy”
Apply for Ink Business Cash® Credit Card
Ink Business Cash® Credit Card
Earning rates galore
"The Ink Business Cash has bonus categories that make it a perfect complement to other Chase Ultimate Rewards cards. And since it doesn't have an annual fee, keeping it year after year is a no-brainer."
Emily ThompsonCredit cards editor
Apply for The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express
Perfect business card for earning Amex points
"I love my Blue Business Plus card, as I can earn 2 Membership Rewards points per dollar spent on all purchases (up to $50,000 per year; then 1 point per dollar). In fact, it’s one of the only no-annual-fee cards that gets you direct access to a transferable rewards currency."
Nick EwenSenior editorial director
Pros + cons of business credit cards
Pros
- Using business credit cards responsibly can help you build your business credit score.
- Business credit cards can earn cash back, points or miles on every dollar you spend.
- Business credit cards provide purchase, theft and fraud protection.
- Business credit cards provide business-friendly perks like travel insurance, complimentary hotel stays and bonus points on expenses like shipping or software.
- Opening a business credit card can separate personal and business expenses.
Cons
- Credit cards can encourage overspending.
- Carrying a balance and using your card irresponsibly can damage your business credit score.
- The cost of borrowing on business credit cards is higher than traditional loans.
- You’re still personally responsible for business credit card debt.
- Having too many card applications can negatively affect your credit score.
Frequently asked questions
Business and personal credit cards have similar functionalities. Many card issuers allow for personal referrals for business cards. In both cases, you’re extended a line of credit to make purchases, and you agree to pay for those purchases over time based on the cardholder agreement.
However, business credit cards are geared toward small businesses, and depending on the issuer (or specific card product), you may need to produce formal documentation in order to be approved. In addition, business cards typically include bonus categories or benefits that may hold less appeal to the general consumer. This can include bonus rewards on shipping purchases, statement credits for business-related service providers or embedded technology to help with accounting.
There’s no single card that would be considered the “best” for every, single small business. Instead, it’s important to consider the type of rewards and selection of benefits that make the most sense for your company. If your company travels internationally often, you would want a business credit card with no foreign transaction fee. If you’re not interested in travel rewards, then a cash-back business card could make the most sense. If your small business spends a bunch of money on client dinners, then a business card with a dining bonus could be the best fit.
While it’s not technically “illegal” to use a business card for personal use, it’s generally against the terms and conditions of most business credit cards. In addition, combining personal and business purchases on a credit card can make it harder to separate legitimate, business-related transactions when tax season rolls around. Finally, business credit cards tend to have fewer protections for cardholders, so using one for personal reasons could backfire.
Sometimes. 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. Instead of worrying about this question, though, focus your energy on paying your balance in full and on time each month. This will ensure that any business cards reported to a credit bureau will only impact your score in a positive way.
You certainly can, though each issuer reserves the right to review your application and determine whether you qualify for a business line of credit. In many instances, you can use your Social Security number as a sole proprietor and get approved for a card. Even if you have no business credit history, an issuer will look at your personal credit score and history to determine your eligibility.
It is possible to refer someone to a business card even if you only have personal cards. Every issuer has their own policy regarding rewarding referrals so you will have to check with your specific card issuer to see if you are eligible for a referral bonus. Check out our in-depth guide on earning referral bonuses on both personal and business credit cards.
The best small business credit card will depend on your small business. See what perks and benefits your business is looking for and if the card you're looking at is the best fit for your business spending. You can use our guide above to help you see which card is the best for your business.
There is no limit to the amount of business cards you can have. It is important to know your business and what cards align most with your spending.
