August 2023’s Best Business Credit Cards
August 2023's Best Business Credit Cards
The Best Business Credit Cards for Every Entrepreneur
Starting and running a business is no easy task, and having the right tools can make all the difference. One such tool is a business credit card, which can provide financial flexibility, rewards, and benefits tailored to the needs of entrepreneurs. In this article, we’ll explore the best business credit cards available right now, handpicked by Insider’s experts.
Why You Should Trust Us: How We Chose the Best Small Business Credit Cards
At Insider, we consult with top credit card experts from NerdWallet and The Points Guy, as well as a certified financial planner and our own credit cards editor. We evaluated dozens of business credit cards, considering factors such as sign-up bonuses, ongoing rewards, additional benefits, and annual fees. We’ve narrowed down the list to bring you the very best options available.
Eligibility: Who Can Apply?
You might be surprised at what qualifies you for a business credit card. In fact, businesses come in all shapes and sizes – whether you’re a freelancer, a rideshare driver, a small business owner, or even someone with a side hustle, you are eligible to apply for a small business credit card. So don’t count yourself out!
If you can’t qualify for a business credit card, don’t worry. We also have recommendations for the best credit cards in general.
Finding the Perfect Fit: How to Choose
Before diving into the specific credit card recommendations, it’s important to consider your own spending style, rewards preferences, and financial goals. Ask yourself these questions:
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- How do you want to redeem your rewards?
- Do you want to earn miles and points for luxurious vacations?
- Do you want to reduce the cost of your business travel?
- Do you want to earn cash back to reinvest in your business?
- What are your usual business expenses?
- It’s important to choose a card that earns the most rewards for your typical business spending.
Considering these factors will help you narrow down your options and find the best business credit card for your specific needs.
The Best Business Credit Cards
Now, let’s dive into the top business credit cards available right now. Here are our expert recommendations:
- Ink Business Preferred® Credit Card: Best Intro Bonus Offer
- This card offers a valuable welcome bonus and allows you to earn 3x points on select popular business categories.
- Experts love: The great welcome bonus offer.
- Experts don’t love: The high spending requirement for the welcome bonus.
- The Business Platinum Card® from American Express: Best for Premium Travel Perks
- This card offers a wide range of perks and benefits, including 5x points on airfare and prepaid hotels when booked through American Express Travel.
- Experts love: The various perks and statement credits.
- Experts don’t love: The high annual fee and minimum spending requirement.
- The Blue Business® Plus Credit Card from American Express: Best for Travel Points with No Annual Fee
- This no-annual-fee card offers 2x points on the first $50,000 spent each calendar year.
- Experts love: The 2x points on purchases, as well as the no annual fee.
- Experts don’t love: The lack of a lucrative welcome offer.
- The American Express Blue Business Cash™ Card: Best Flat-Rate Cash Back with No Annual Fee
- This card offers 2% cash back on all eligible purchases, up to $50,000 per calendar year.
- Experts love: The 2% cash back on all purchases and the zero-interest rate for new purchases in the first year.
- Experts don’t love: The lack of a welcome bonus offer.
- Capital One Spark Cash Plus: Best Cash-Back Business Card with No Preset Spending Limit
- This card offers unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, and 2% cash back on all other purchases.
- Experts love: The unlimited 2% cash back on all purchases and the lack of a preset spending limit.
- Experts don’t love: The lack of category-specific bonus rewards.
These are just a few examples of the best business credit cards available. For a comprehensive list, refer to the table below:
| Name | Key Features |
|---|---|
| Ink Business Preferred® Credit Card | – Valuable intro bonus offer – 3x points on select popular business categories |
| The Business Platinum Card® from American Express | – Premium travel perks – 5x points on airfare and prepaid hotels |
| The Blue Business® Plus Credit Card from American Express | – No annual fee – 2x points on all purchases |
| The American Express Blue Business Cash™ Card | – No annual fee – 2% cash back on all purchases |
| Capital One Spark Cash Plus | – 2% cash back on all purchases – No preset spending limit |
| Capital One Spark Miles for Business | – 2x miles on all purchases. – Ability to transfer miles to over a dozen airline and hotel partners |
| Capital One Spark Miles Select for Business | – Flat-rate miles with no annual fee |
| Ink Business Unlimited® Credit Card | – Unlimited 1.5% cash back on all purchases |
| American Express® Business Gold Card | – 4x points on select business categories |
| Ink Business Cash® Credit Card | – Bonus cash back on office supplies and wireless expenses |
| U.S. Bank Business Triple Cash Rewards World Elite Mastercard® | – Generous intro 0% APR offer – Cash back on eligible purchases |
| U.S. Bank Business Platinum Card | – Long 0% intro APR period |
| Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card | – Ability to customize cash back categories |
| Capital One® Spark® Classic for Business | – Designed for fair credit – No annual fee |
| CitiBusiness® / AAdvantage® Platinum Select® Mastercard® | – Best for American Airlines flyers |
| IHG One Rewards Premier Business Credit Card | – Best for IHG |
For a more detailed analysis of each card, you can refer to the individual reviews on our website.
Expert Advice: Choosing the Best Business Credit Card for You
We understand how important it is to find the perfect business credit card for your specific needs. That’s why we interviewed three credit card experts and one financial planner to gain their insights. Here’s what they had to say:
What features make a business credit card good?
According to our experts:
- Sara Rathner from NerdWallet suggests that rewards should align with your business’s typical spending and that overspending for a high bonus isn’t worth it.
- Luis Rosa, a certified financial planner, emphasizes the importance of easily providing corporate cards to employees and strong cash-back or rewards programs.
- Sarah Silbert, a senior reviews editor at Personal Finance Insider, believes that a good business credit card will reward your company’s most frequent purchases and offer benefits such as free employee credit cards and travel perks.
- Benét Wilson, a senior editor at The Points Guy, advises considering your preferred rewards, willingness to pay an annual fee, spending categories, and travel frequency when choosing a business credit card.
How should someone approach finding the best business credit card for their specific situation?
Our experts provide the following tips:
- Rathner suggests knowing your business’s spending habits and choosing a card that rewards you the most for what your business already does.
- Rosa advises considering your spending patterns and anticipated future purchases when making a decision.
- Silbert recommends starting with specific benefits you want from a business credit card and narrowing down your options based on your needs, whether it’s cash back or travel rewards.
- Wilson recommends considering your spending preferences, whether you want cash-back rewards, airline miles, or hotel points, and also taking into account your employees’ travel needs.
Anything else to keep in mind?
Lastly, our experts share additional considerations:
- Rathner reminds us that personal liability for unpaid credit card bills remains, so spending carefully is crucial.
- Rosa highlights that even if you assign employee cards, you and your business are still ultimately responsible for the charges.
- Remember to weigh the benefits, annual fees, and any limitations associated with each card, as Silbert advises.
- Wilson suggests looking for a business credit card that helps you separate expenses, maximize purchases, and save money on interest.
Airlines and Hotels: Specialty Business Credit Cards
If you frequently travel for business, specialty business credit cards offered by airlines and hotels can be worth considering. These cards are designed to cater to the needs of frequent travelers, offering benefits such as free checked bags, priority boarding, and complimentary elite status. Here are some of the best options available for airline and hotel business credit cards:
Airline Business Credit Cards:
- Delta: Delta SkyMiles® Gold Business American Express Card, Delta SkyMiles® Platinum Business American Express Card, Delta SkyMiles® Reserve Business American Express Card.
- United Airlines: United℠ Business Card, United Club℠ Business Card.
- American Airlines: CitiBusiness® / AAdvantage® Platinum Select® Mastercard®, AAdvantage® Aviator® World Elite Business Mastercard®.
- Southwest Airlines: Southwest® Rapid Rewards® Premier Business Credit Card, Southwest® Rapid Rewards® Performance Business Credit Card.
- Alaska Airlines: Alaska Airlines Business Credit Card.
Hotel Business Credit Cards:
- Hilton: The Hilton Honors American Express Business Card.
- Marriott: Marriott Bonvoy Business® American Express® Card.
- Hyatt: World of Hyatt Business Credit Card.
- IHG: IHG One Rewards Premier Business Credit Card.
- Wyndham: Wyndham Rewards® Earner Business Card.
Please note that these cards come with their own unique benefits and bonuses, so make sure to explore each option to find the best fit for your business.
No matter what kind of business you run, there is a business credit card out there that can help you manage expenses, earn rewards, and unlock valuable benefits. By considering your individual needs and preferences and referring to our expert recommendations, you can find the perfect business credit card that will support your entrepreneurial journey.
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