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10 Best Business Credit Cards of January 2024

Jan 3, 2024 at 9:22 PM

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

We’ve vetted over 40 business credit cards, comparing their annual fees, redemption options, insurance coverage and more. Based on this research, we picked the top ten business credit cards in the market, which include the Ink Business Preferred® Credit Card, Capital One Spark Cash Select for Excellent Credit and The Blue Business® Plus Credit Card from American Express.

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

Money.com has partnered with CardRatings.com for our coverage of credit card products. Money and CardRatings may receive a commission from card issuers. This site does not include all card companies or all available card offers.

Money’s Main Takeaways

  • Business credit cards can keep business and personal expenses separate, simplifying bookkeeping and tax filing.
  • These cards are available for any business owner, from freelancers to partners.
  • Business credit cards typically offer business-centric benefits, such as cash flow management tools and bonus points on gas, office supply stores, cell phone service providers and more.

Why Trust Us?

During the evaluation process, our editors and writers verify current offers from credit card issuers. Additionally, we delve into each card's fine print to analyze their features and potential value. We review cards independently, ensuring our content is accurate and guided by editorial integrity. Read the full methodology to learn more.

  • 44 business credit cards evaluated
  • 10+ data points used, including ongoing fees, reward programs and welcome offers
  • 100+ sources reviewed

Our Top Picks for the Best Business Credit Cards

Best Business Credit Cards Reviews

Chase Ink Business Preferred Credit Card

Pros

  • 3x points on the first $150,000 spent on internet, cable, phone services and travel each account anniversary year
  • 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 might be low for some businesses
  • $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.

With the card_name, you can earn 3x points per dollar on up to $150,000 in combined eligible purchases each card anniversary year (1x points after that) on the following categories:

  • Shipping purchases (such as postal and freight shipping companies)
  • Advertising purchases made on social media sites and search engines
  • Internet, cable and phone services
  • Travel (including airlines, hotels, car rental agencies and more)

You can redeem your points for cash back, gift cards and select products or services through the Chase Ultimate Rewards® portal. You can also book trips through the portal, which increases the value of your points to 1.25 cents apiece instead of the usual one cent. Additionally, you can transfer your points to over 10 airline and hotel partners, including Jetblue, United and Marriott.

You’ll also get some worthwhile benefits, including trip cancellation and interruption insurance, primary rental car coverage and cell phone coverage.

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 a card without caps, like the Chase Ink Business Premier℠.

Bank of America Business Advantage Customized Cash Rewards Credit Card

Pros

  • Earn 3% cash back on the first $50,000 in in your chosen bonus category each calendar year (1% thereafter)
  • Earn up to 75% more cash back on eligible purchases if you're a Bank of America business checking account holder and qualify for Preferred Rewards for Business Platinum Honors

Cons

  • Bonus categories have a combined annual spending cap of $50,000
  • 3% foreign transaction fee

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.

Few no-annual-fee cards 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 and EV charging 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 preferred category 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 and rideshare services (like Uber).

However, keep in mind that the card’s 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 earn 1% back.

If you’re a Bank of America checking account holder and qualify for the Preferred Rewards for Business program, this could net you up to 75% more cash back on eligible purchases. So instead of the default 3%, you could earn 5.25% back in your preferred category.

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 select business categories including 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

  • $25,000 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: 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 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 what American Express calls “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.

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, businesses with high operational expenses should consider a card like the Chase Ink Business Preferred® Credit Card, which offers bonus categories such as shipping services and phone services.

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 purchases, 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 Chase Ink Business Preferred® Credit Card. So the card might be a great addition to your wallet if you already own other Chase credit cards.

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

Pros

  • Comprehensive travel insurance*
  • 5x points on flights and prepaid hotels booked through amextravel.com
  • Transfer points to travel partners, like Delta and Marriott
  • Airport lounge access in more than 1,400 locations 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 rewards 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 your rewards with other Chase cards
  • No travel partners
  • Purchases must be paid in full every month if you 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.

Capital One Spark 1% Classic Credit Card
Courtesy of Capital One

Pros

  • No annual fee
  • No foreign transaction fees
  • 5% cash back on hotels and rental cars booked through Capital One Travel

Cons

  • Earns only 1% cash back on most purchases
  • Doesn't include perks or travel protection

Why we chose it: While most of the best business credit cards require good or excellent credit, the Capital One Spark 1% Classic is available for new business owners with a limited credit history or those with fair scores.

Capital One advertises the Capital One Spark 1% Classic as a credit-building option and provides some guidelines that describe the ideal cardholder as someone who has:

  • Defaulted on a loan in the past five years
  • A limited credit history
  • Credit cards or other credit accounts for less than three years

Note, however, that this doesn’t mean approval is guaranteed as Capital One will still take your full credit history, income and other criteria into account.

Since the Capital One Spark 1% Classic is a starter business card, its list of bonus categories is limited and the card only offers 1% cash back on most eligible purchases. You can, however, earn 5% cash back on hotels and rental cars if booked through Capital One Travel.

The card doesn’t offer a welcome bonus, perks or travel insurance. However, it doesn’t charge foreign transaction fees, which many other no-annual-fee cards do.

So, if you’re looking for a card that can help you build or improve your credit, the Capital One Spark 1% Classic is a solid option. However, if you have a good or excellent credit score, you’re better off with one of the other cards in our list.

All information about the Capital One Spark 1% Classic has been collected independently by Money.com. It has not been reviewed or provided by the issuer.

Bank of America Business Advantage Unlimited Cash Rewards Mastercard®️ Secured Credit Card
Courtesy of Bank of America

Pros

  • Earn 1.5% cash back on every eligible purchase
  • No annual fee
  • Get access to cash flow management tools that let you download transactions into QuickBooks and more

Cons

  • Security deposit required
  • No bonus categories
  • No introductory bonus or APR period
  • Offers less redemption options than other cards

Why we chose it: The card_name is a great option for business owners aiming to build or repair their credit, and features several benefits that are usually only available with cards for good or excellent credit.

The Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card requires a $1,000 minimum security deposit, which acts as collateral if you ever fail to make the monthly payments. This security deposit will also be your credit limit.

This card is a great option if you’re trying to build your business credit score and, because it provides free access to your Dun & Bradstreet business credit score, you can easily track your progress. Bank of America will review your account periodically and, as your score improves, it might return your deposit and upgrade you to an unsecured card.

The card offers a 1.5% base cash-back rate on eligible purchases without an annual cap — most credit cards have a 1% base rate. You can redeem your earnings as a statement credit, a check or a deposit into your Bank of America® checking or savings account.

Additionally, the card offers travel perks like $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost luggage assistance and legal and medical referrals while traveling.

These features make Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card a solid option for business owners trying to improve their credit score.

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

Other business credit cards we considered

The American Express Blue Business Cash™ Card

American Express Blue Business Cash™️ Card
Courtesy of American Express

Pros

  • Earn 2% cash back on eligible purchases (on up to $50,000 per year, then 1%)
  • No annual fee
  • Access to Expanded Buying Power feature lets you spend above your credit limit (Terms apply)

Cons

  • You can only redeem your cash back earnings as a statement credit
  • Annual cap on bonus category

Terms apply. Click here for applicable rates and fees.

HIGHLIGHTS

Annual fee:
annual_fees
Welcome offer:
bonus_miles_full

The American Express Blue Business Cash™ Card offers 2% cash back on eligible business purchases (up to $50,000 per calendar year, then 1%). This makes it an excellent choice for business owners who prefer a straightforward reward rate that isn’t limited to specific bonus categories.

Having said that, the card’s redemption options are limited. With this card, your cash back is automatically redeemed as a statement credit at the end of each billing cycle. Other cash-back cards also allow you to redeem your rewards for travel, gift cards, direct deposits and more.

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 two categories on which your business spends the most each billing cycle. The categories that qualify for the 4X bonus rate include:

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

You can also earn 3X points on flights and prepaid hotels booked through AmexTravel.com.

However, the 4X reward rate is limited to the first $150,000 spent in combined purchases per year; after that, you only get 1x per dollar. (Only purchases in your top two spending categories each billing cycle count towards the annual cap.) The card also has a high annual fee of $295 ($375 if the application is received on or after January 2, 2024).

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 is a charge card, which means it’s not issued with a preset spending limit (also known as credit limit). Instead, each transaction is approved individually based on your credit history. This can give business owners with an excellent credit profile more spending flexibility, allowing them to swipe their card without worrying about maxing it out.

However, the downside to charge cards is that their balance must be paid in full each month or else you’ll get charged late fees and your account will be considered past due — unlike standard credit cards that let you accrue a balance as long as you make a minimum monthly payment.

With the Capital One SparkCash Plus, you can earn 5% cash back on hotels and rental cars booked through the Capital One travel portal and 2% back on all other purchases, with no annual spending caps. The card didn’t make our top list because it offers fewer benefits compared to 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.

Business Credit Cards Guide

Business credit cards do more than offer high bonus rewards on business expenses. They separate your business and personal finances and help you build your company’s credit profile, which can give you access to favorable interest rates and a wider array of financial products. 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 are a financial tool designed to help streamline business transactions. They provide business owners with a separate credit line from their personal ones, which can facilitate the tracking of company expenses and tax filing.

They often feature higher credit limits than personal credit cards and business-centric features, such as free employee cards and automated quarterly and year-end summaries. Additionally, these cards typically offer generous rewards for business expenses, including gas, office supplies, phone plans and social media advertising.

How do business credit cards work?

Business credit cards work the same way as personal cards do. They give you 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 a monthly account statement disclosing the total amount owed and the minimum amount due. You’ll have to make at least the minimum payment to avoid late fees and keep your account in good standing. However, paying the full balance is preferable to avoid racking up interest charges on the 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 your business 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:

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 available online are considered small business credit cards. These generally offer perks and benefits tailored towards small business owners or freelancers with limited staff and lower operational expenses compared to larger companies.

These cards feature reward programs that let you earn points redeemable for cash back, statement credits, travel, gift cards and more — depending on the issuer.

Corporate credit card

Corporate cards are similar to small business ones in terms of reward programs. However, their benefits are typically geared towards larger corporations with a well-established business history, significant revenue and hundreds of employees or more.

A business must be registered as a C Corp or an S Corp to qualify, not as a sole proprietorship or partnership (although some card issuers welcome different types of business structures). Also, the company is responsible for paying the card, not the cardholder 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.

Charge cards

Charge cards offer similar rewards and benefits to small business and corporate credit cards. The main difference is that charge cards don’t have pre-set spending limits and instead approve each purchase individually based on your income and payment history. This gives business owners with an excellent credit record greater spending flexibility.

However, charge cards must be paid in full each month without the option of making minimum payments. If you don’t settle the outstanding balance on time, you’ll incur late fees and other penalties, depending on your card’s agreement.

Business credit cards vs. personal credit cards

Business credit cards

Personal credit cards

Best for

These cards are best for business owners who want to separate their business expenses from their personal ones while building their business credit score.

These cards are best for individuals who want an accessible line of credit for everyday expenses and to build their credit history.

Credit limit

It's calculated based on the business's credit score and financial information. Many lenders also consider your personal credit history.

Lenders consider your employment status, income and credit report, which includes information on your payment history and current debts.

Credit reporting

Transactions on business credit cards are reported to business credit bureaus, such as Dun & Bradstreet. However, lenders might report late payments to consumer credit agencies, impacting your personal credit score.

The account activity on personal credit cards gets reported to the three major credit bureaus -- Experian, Equifax and TransUnion.

Rewards and benefits

Business credit cards are designed to meet the needs of businesses. They feature benefits such as expense tracking tools and bonus categories for gas, office supplies, internet services and more. Some also include travel insurance.

Personal credit cards often provide bonus points or miles for everyday expenses, such as dining, grocery shopping and streaming services. They often feature travel benefits, like car rental insurance and purchase protections, such as extended warranty coverage.

Authorized users

They usually offer free employee cards for which you can set customized spending limits. This makes it easier to track employee spending, and you can earn rewards from their purchases.

You can typically add free authorized users to your account, who get access to most of the same benefits as the primary cardholder. However, some high-end credit cards charge an annual fee for each additional authorized user.

How to choose a business credit card

These are some of the factors you should consider when choosing a business credit card:

  • Go over your business’s expenses and identify the main spending categories. This can help you narrow your card options to those offering bonus categories that align with your spending habits.
  • Check if the card’s bonus categories have quarterly or annual spending caps, which can impact your reward-earning potential.
  • 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.
  • Prioritize the card’s ongoing benefits over its welcome offer. Features like travel accident insurance and cell phone protection often determine the long-term value of a card, especially if you’ll be paying an annual fee.
  • Consider the card’s redemption options. For instance, some cards reduce the value of your points or miles if you redeem them for cash back.

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.

How to get the most out of your business credit card

Here are some tips to get the most out of your card’s rewards program and features:

  • Use your card often but wisely. The more you use your card, the more you’ll earn points, miles or cash back rewards you can redeem for account deposits, statement credits, airfare, gift cards and more (depending on your credit card issuer). Having said that, it’s important to stay below your credit limit and aim to pay your monthly bill in full to avoid interest charges.
  • Maximize the card’s bonus categories. Make sure you know your card’s bonus categories and use it to make purchases that align with those.
  • Take advantage of its benefits. Most cards include benefits such as extended warranties, insurance policies and roadside assistance. If you get a card with travel insurance, use it to pay for your tickets so that you can be reimbursed if any of the events covered by the policy should cause you to miss, cancel or delay your trip. .
  • Add employees to your account. Their spending will earn you extra rewards. However, it’s a good idea to set spending limits for their cards to control expenses.
  • Make sure you use the introductory offer. For example, if the card has a 0% APR introductory period, you can plan major purchases during these months and carry a balance without incurring interest charges. (Note: you’ll still have to make monthly minimum payments during a 0% APR period.)

Latest News in Business Credit Cards

Business Credit Cards FAQs

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.

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.

How to build business credit

The first step is to register your business and obtain any necessary state or federal licenses. You'll also have to apply for an EIN with the IRS and a DUNS number with Dun & Bradstreet, one of the main business credit reporting agencies. After that, apply for a business credit card. Most credit card issuers report your activity to business credit bureaus, which will raise your credit score if you use it responsibly.

What is a good business credit score?

Business scores range between 0 and 100. According to the Paydex scoring systems, one of the most popular models, scores of 80 or above are considered excellent and will likely give you access to the best credit terms available. Scores of 50 to 79 indicate moderate risk, and lenders view anything lower as a high risk of late payments.

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.
  • Redemption flexibility. We considered how many redemption options each card offered, such as statement credits, cash back and travel bookings.
  • 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 January 2024

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.

To see rates and fees for The American Express Blue Business Cash™ 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.

** 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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