Whether you’re a freelancer, a gig worker, or a business owner with multiple employees, you may be a candidate for a small-business credit card. These can help you build both personal and business credit, finance your business charges and earn rewards. Show
Read more MoneyGeek’s Take: Top 10 Business Credit CardsWelcome bonuses vary from one card to the next, even among the top cards from this segment. This is also the case with cash back and reward rates. Depending on the card you select, you might need to pay an annual fee. We've paid due attention to these factors and others, including APRs, foreign transaction fees and added perks, to arrive at the best of the lot. Scroll for more 
Best Business Credit Card OffersWe think the best business credit cards should help you maximize your everyday expenses — and not cost you in the long run. Many of the cards in our lineup charge few or no fees, come with a low APR, have zero-interest financing offers and offer rich rewards and perks. Best Businesses Cards With Cash Back & Travel Rewards
The Best Business Credit Cards at a GlanceThe links in the table below and the following component will take you to one of our partner's sites where you can compare and apply for a selected credit card. Sorry. We were not able to load data for table... Other Cards to Consider HOW WE RANK BUSINESS CREDIT CARDS To ensure that we provide our readers with the most accurate and up-to-date information, experts at MoneyGeek collect 57 data points from different sources, such as the Consumer Financial Protection Bureau, card issuer websites and our various partners. We rely on our unique in-house ranking methodology to select the best business credit cards, and our model assigns specific percentages to different parameters based on their importance. The key parameters we consider to arrive at our list of the top credit cards for business include:
How to Compare Business Credit Cards & Intro OffersEvery business has its own needs, so some credit cards will be a better fit for you over others. When you’re comparing cards, consider how you’ll use the rewards program and features and whether the terms are affordable to you. 1 Assess your business spendingIf you’ve already been in business for a while, go through statements from your business checking account or other credit cards to see which expenses regularly come up and how much you usually spend each month. This can help you choose a rewards program to maximize those expenses. 2 Consider whether you need employee cardsIf your business has employees, you may want to give them access to the line of credit so they can make business-related purchases and earn rewards for the account. Check whether the credit card issuer offers employees cards, charges a fee for them or allows you to set spending limits on each card. 3 Check the credit card termsYour credit card might cost you money if you have a high annual fee and carry a balance. But the fees could be worth it if the rewards are a good match for your expenses. And you can find ways to save money if you tend to revolve a balance; for example, the card might offer a 0% introductory APR. 4 Look for additional featuresLook for other fees you might have to pay and any features that come with the card. Then consider how it will impact your business. For example, a card that charges foreign transaction fees may be a poor choice if you frequently travel overseas or make purchases with foreign suppliers. 5 Compare introductory offersMany business credit cards come with sign-up bonuses, but you might need to spend a certain amount to earn them. Make sure you can receive the bonus without overspending. MoneyGeek’s Guide to Finding the Best Credit Card for Your BusinessYour goal might be to find a credit card that helps your business grow, but it’s just as important to understand the risks and rewards that come with them, how to apply, how to manage your account and when not to use a credit card for financing business purchases. >> MORE: How to Get a Business Credit CardBenefits to Having a Business Credit CardBusiness credit cards come loaded with perks that can help your business get ahead. These help you:
Risks Associated With Business Credit CardsUsing any type of credit card has the potential to put you into debt if you charge more than you can pay back — especially if the card comes with a high APR. But business credit cards, in particular, have a few unique risks you should consider before applying:
Key Differences Between Personal & Business Credit ScoresBusiness credit cards might look and act like consumer credit cards, but there are some key differences that set them apart, such as:
MONEYGEEK QUICK TIP: Based on the latest Small Business Credit Survey, about 80% of small business owners reported that their personal finances were negatively impacted by the pandemic due to things like not taking a salary, having to pay for business expenses with personal funds or credit, etc Though the economy and businesses are slowly opening back up, owners still need help bridging the gap. This is where business cards with 0% APR on new purchases or balance transfers can be helpful since they give a grace period for when interest starts accruing. What Is Needed to Apply for a Business Credit CardThe main requirement of opening a business credit card should come as no surprise — you’ll need to operate a business. Other than that, credit card issuers generally look for:
Once you submit an application, you might find out right away whether you’ve been approved or declined. If approved, you’ll receive a copy of the credit card in the mail within a week or two. The process might slow down if the card issuer requests extra documentation or asks questions about the information you provided. This might add a few days or weeks to the application process. MONEYGEEK EXPERT TIP According to the 2020 Small Busines Credit Survey, business owners’ personal finances remain deeply intertwined with the finances of their businesses, with 88% of firms relying on an owner’s personal credit score to secure financing. In many cases, you’ll need strong credit to qualify for a business credit card. On a scale of 300 to 850, a FICO score of at least 670 is generally considered a “good” credit score. A higher score may give you a better chance at qualifying for the card, earn you a larger credit limit or get you a lower annual percentage rate (APR). But some card issuers might offer business credit cards for fair credit, especially if the business is well-established or has a significant annual revenue. Questions to Ask Yourself When Choosing a Business Credit CardIf you want to earn rewards, simplify employee expenses and build credit, there are three main questions to ask yourself before opening a small business credit card account.
Loading... Alternatives to Financing Business Expenses Without a Credit CardWhile business credit cards can be excellent tools, they’re not the right fit for every situation. If you need more cash flow or you’re looking to save on business expenses, make sure you understand your alternative options and when to use them.
Expert Advice & FAQs About Business Credit CardsWe’ve got answers to some of the most critical questions about business credit and using business credit cards: Tips From The Pros: Finding & Using the Right Business Credit Card
Amit Sinha Professor of Finance and Quantitative Methods at Bradley University David Sacco Practitioner in Residence at the University of New Haven Dr. Christopher Newman Associate Professor of Marketing at The University of Mississippi Chad Nehring Certified Financial Planner John Longo Professor of Finance at Rutgers Business School; Author of Buffett's Tips: A Guide to Financial Literacy and Life Dr. Brandon Di Paolo Harrison Assistant Professor of Accounting at Austin Peay State University Scott W. Hegerty Associate Professor of Economics at Northeastern Illinois University Carrie Friedberg SF Money Coach, Certified Financial Coach and Financial Behavior Specialist® May Jiang CPA, CFP®, Founder of Beyond Profit and Wealth Consulting Sandra D. Adams, CFP® Lead Financial Planner/Partner at The Center for Financial Planning, Inc. Catharine Curran, PhD Associate Professor, Management & Marketing at The University of Massachusetts Dartmouth Deanne Butchey Teaching Professor, Department of Finance at the College of Business, Florida International University Julia Menez Travel Hacking Coach and Founder of Geobreeze Ramiro J. Atristain-Carrion Executive In Residence and Adjunct Professor of Finance at Dominican University Yutong Xie Assistant Professor of Finance at The College of New Jersey Dr. Andrew Burnstine Associate Professor of Marketing at Lynn University Mark T. Schenkel Associate Editor at Journal of Small Business Management and Professor of Entrepreneurship at Jack C. Massey College of Business Russ McCullough, PhD Wayne Angell Chair of Economics and Director/Founder Gwartney Institute at Ottawa University Tahereh Alavi Hojjat Chair & Professor of Economics Salil K. Sarkar, PhD, CFA Professor of Finance, Coordinator, Doctoral Finance Program at The University of Texas at Arlington Sheila A. Handy Visiting Professor - Department of Economics at Lafayette College Jesse Veenstra Instructor of Finance at Dordt University William Nunn, CFP® Managing Member, Founder of Horizon Financial Planning LLC Jacqueline R. Jaeger Adjunct Business Faculty at the University of Dubuque Philip Mayer Professor of Economics and Political Science at Three Rivers Community College Dr. Tammie S. Lang, Ed.D Program Director, Business Administration at Southeast Community College Joe Roberts, Ph.D. Director, Center for Innovation and Professional Development at Webster University Chuck Lopez Lecturer at the University of Hawaiʻi at Mānoa Kevin J. Machan Adjunct Faculty Member of the College of Graduate Studies at Cardinal Stritch University Jeff Jeter Executive Director of Financial Planning at Heritage Investors Kimberly Bailiff Adjunct Instructor of Marketing at Walsh College David S. (Steve) Heesacker Business Instructor at Central Carolina Community College Melinda Shew Business Technologies Instructor at Surry Community College James Sundberg, CGMA, CPA Part-Time Instructor at Cleary University J. Cameron Verhaal Assistant Professor of Management and Entrepreneurship at Tulane University’s Freeman School of Business Alexandre Olbrecht Professor of Economics and Executive Director, Eastern Economic Association at the Ramapo College Of New Jersey Bruce Bachenheimer Clinical Professor of Management and Executive Director of the Entrepreneurship Lab at Pace University Christopher S. Tang UCLA Distinguished Professor at UCLA Anderson School of Management Nicole Hunter Clinical Assistant Professor of Finance at the University at Buffalo School of Management Dr. Karyl B. Leggio Professor of Finance, Sellinger School of Business at Loyola University Maryland Catherine Valega Certified Financial Planning Prof (CFP), and CAIA (Chartered Alternative Investment Analyst) Dr. Kareem Tannous Assistant Professor at Cabrini University Peter Staples Assistant Professor of Business and Economics at Lyon College Caleb Martin Professor of Accounting at Erskine College Chris M. Lawrey, PhD Assistant Professor at the University of South Alabama Laura Coordes Associate Professor of Law at Arizona State University John Peatross Certified Public Accountant and Adjunct Instructor at the University of Maryland, Baltimore County Dr. Angela Buchanan Associate Professor in Business & Economics at Lyon College Monique Beauchamp-Doll Professor of Business Administration at Macomb Community College Sean Tossi Assistant Professor of Management at University of Cincinnati Steve Horan Assistant Professor of Business Bill Miller Professor of Accounting at University of Wisconsin-Eau Claire Dr. James J. Carroll, CPA Professor Emeritus Tufan Ekici Visiting Assistant Professor of Economics at Ramapo College of New Jersey Michael A. Adamo Professor at County College of Morris Mark Oxley Accounting & Business Instructor, Casper College Dr. Stephen Brincks Professor of Finance at San Diego State University Kevin Kuenn Fixed Term Instructor of Business at Northwest College Robert Fitzgerald Accounting Instructor at Motlow State Community College Rob Larson Associate Professor of Management at Luther College Colby D. Green, PhD Assistant Professor of Strategic Management at the Dixie L. Leavitt School of Business at Southern Utah University Dr. Jeremiah Nelson Assistant Professor of Management at Catawba College Christian Nelson Staff Accountant at Bay de Noc Community College Rita W. Green, Ed.D. Founder of GRADES LLC, Certified Personal/Family Finance Educator and Accredited Financial Counselor Amarjit Singh Professor, Various Universities Dr. Christopher M. Scalzo Associate Professor at SUNY Morrisville Lyle M. Rupert C. Louis and Charlotte Cabe Distinguished Professorship in Economics and Business David Hart Executive in Residence at Oklahoma Wesleyan University Jack Yoest Assistant Professor of Practice in Leadership and Management at The Catholic University of America Dr. Maria H. Sanchez Professor of Accountancy at Rider University, CPA, Ph.D. FAQsNext StepsNow that you know what you can expect from the best business credit cards, select one based on your specific needs and spending patterns. For instance, you may benefit by getting a card with an annual fee if you feel you'll be able to offset the cost through its various features and benefits. Compare Credit Cards
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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is
accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available. Can we use credit card for business transactions?A lot of businesses allow their employees to use the company's Credit Card to cover various work expenses, like travel tickets, hotel bookings, purchase of office supplies, food, etc.
What are the advantages of using a company credit card for business expenses?Business credit cards often have better terms than those of a personal card, including lower interest rates, higher credit limits, longer periods before interest accrues, and discounts for early payment. Perks.
Can I turn my personal credit card into a business card?Yes, depending on the card issuer, you can switch a personal credit card to a business credit card. Closing out a personal credit card could affect your credit score, so weigh your options if you want to close the account after switching to a business credit card.
What should be on a small business business card?What information should you put on your business card?. Company name.. Tagline.. Your name & title.. Contact details.. Your address -online or physical.. Social media handles.. A QR code.. |
Best credit card to use for business expenses
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