Best Credit Cards for Businesses

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Contributor, Benzinga
Updated: July 7, 2022
BZ

Quick Look at the Best Credit Cards for Businesses:

  • Best for No Annual Fee: American Express Blue Business Cash™ Card
  • Best for Start-Ups: Brex
  • Best for Travel Rewards: Delta SkyMiles® Reserve Business American Express Card
  • Best for Fair Credit: Capital One Spark Business Classic

Running a business doesn’t just require money, it requires time, and Benzinga knows you could always use more of both. As you build or manage your business, having a solid business credit card is an important asset. You can cover the difference on large purchases or cover recurring and day-to-day expenses to streamline your business finances.

With so many solid business card choices, sifting through individual cards can take some serious time and research. To save yourself time, use Benzinga’s list of the best business credit cards to find your perfect card today.

Top Credit Cards for Business Owners

Even though a business credit card can be your ace in the hole, your card can do much more for you beyond acting as your credit line. Earn cash back or travel points on your business purchases or discounts on your spending.

Which card is best for you depends on your unique financial situation and needs. Find a card with a fee structure, interest rate and rewards program that makes the most of yours.

Best for No Annual Fee: American Express Blue Business Cash™ Card

Amex has a several business cards to choose from but we like the American Express Blue Business Cash™ Card for its $0 annual fee. There is 2% cash back on all eligible purchases, up to $50,000 in purchases in a calendar year, then you can expect 1% cash back on other purchases.

Another perk, there is a $0 annual fee* for each employee and they get rewarded on purchases and stay on top of expenses with spending limits, alerts and summary reports.

Best for Start-Ups: Brex 

  • Brex
    More Details
    Regular APR

    13.99%-21.99% | See Rates & Fees

    securely through Brex's website
    More Details

    Terms apply

Specifically designed for tech start-ups with investor backing, the Brex corporate credit card and financial management operating system work in conjunction to get your business the credit it needs. Brex provides you credit using the Employer Identification Number (EIN), so your credit limit is based on your company’s finances, not yours. 

Brex doesn’t require a personal guarantee or a credit check, so your personal credit isn’t on the line. There’s no fees for using Brex — it relies on fees from the merchants you spend with. 

You’ll get a ton of bonuses for using this card. Earn between 1x to 7x reward points that can be used as statement credits or for travel on all purchases. Brex partners with companies you’re already using like Slack and Zoom to bring its corporate credit card users stellar discounts.

Best for Travel Rewards: Delta SkyMiles® Reserve Business American Express Card

If you’re laser-focused on finding a business card that earns miles, the Delta SkyMiles® Reserve Business American Express Card is a great choice. You’ll earn hefty rewards that can translate into statement credits for travel and miles like 3x miles on eligible Delta purchases and 1x miles on any other purchase you make.

Plus, 1.5 miles per dollar on eligible purchases for the rest of the year after you spend $150,000 on non-Delta purchases.

Get reimbursed for signing up for Global Entry or TSA Pre-Check and streamline the airport security screening process. You’ll even get 1 free domestic flight for a companion every year.

Best for Fair Credit: Capital One Spark Business Classic

  • Capital One Spark Business Classic
    More Details
    Annual Fee
    $0
    Regular APR

    16.99%

    securely through Capital One Spark Business Classic's website
    More Details

    Terms apply

If your credit is just so-so, the Spark Classic Business card may be a solution to get your business hooked up with a credit card. Fair credit could mean you have limited credit or that you have a scuff or 2 on your credit report like defaulting on a loan.

Capital One doesn’t skimp on rewards with this card in exchange for its relaxed standards. You’ll earn 1% cash back on your purchases with this card. And the Spark Classic card comes with free employee cards, 0 fraud liability and other useful employer perks. 

How to Compare Credit Cards

When choosing a credit card, there are a few main factors to consider. Mainly, you want to be sure you are choosing cards that match your credit ranking. Many merchants list their borrower requirements on their website or allow you to prequalify. You can also assess your approval odds for different cards with a loan comparison service.

Using credit costs money, so pay attention to a card’s fees and annual percentage rate, or APR. And, of course, consider any rewards, perks, bonuses and protections that come with cards you’re looking at.

Fees and APR

While most cards come associated with some sort of fee structure, you’ll want to pay attention to annual fees. This is the fee you’ll be charged yearly to keep the card open. 

Although it may seem instinctual to avoid annual fees, keep in mind that cards with the best business perks and rewards are likely to. Whether or not a card is worth the annual fee depends on how you’ll use it and whether it makes sense for you financially.

Another important cost that comes with using a credit card is the APR. This is the interest rate you’ll pay on your monthly balance. 

A lower interest has its benefits, of course, but you may see high interest rates if you have shaky credit history or you want a card that has all the bells and whistles. If this is the case, make sure you are able to pay enough toward your balance each month to keep it low and avoid mountains of interest. 

Rewards

Even if you use your card primarily for business expenses, you can still personally benefit from your card’s rewards program. Earn cash back and travel points when you spend. Some cards offer amped up rewards if you use your credit in certain business categories. 

Perks

Look for cards that offer extras for business owners, like employee cards at no additional cost and business management tools. These tools could include spending tracking, integration with your accounting software and more.

Your credit card company may hook you up with discounts on your business-related expenses. Some cards even offer credit building tools, opening up more credit opportunities for your business in the future.  

Protections

Your business card can add an extra layer of security if you choose the right one. Fraud protection, account monitoring and purchase protection provide another pair of eyes on your account and protect your business from liability. 

Credit Card Responsibility

The convenience of a credit card comes with some risk. Although credit cards are a useful tool, it's easy to get in over your head if you don’t approach them carefully. You want to make sure you don’t use more credit than you can afford to pay back. 

By keeping your balance low, you will avoid being buried by compounding interest. And your credit utilization ratio will stay low if you pay down your balances monthly. Use your card responsibly to build a solid credit history and keep your line of access to credit open.

How to Apply for a Credit Card

When you settle on a card and are ready to apply, see if you can prequalify with the merchant to see your approval odds. This will allow you to assess your likelihood of being approved without hurting your credit score. 

You can also use a comparison service like Credible to see all of your pre-qualified offers and compare them side-by-side. 

Maximize Your Business Potential

Creating a successful business doesn’t come cheap, and there are many benefits to having a solid business credit card that gives back as you spend. A business card can be a great resource for building your credit, opening up your access to larger amounts of capital later. It can also cover your recurring and day-to-day expenses and help you to track your business spending monthly.

Start with Benzinga’s list to find the best credit card for your business today.