- Earn generous flat-rate cash back on every purchase.ย
- No annual fee.
- There are no foreign transaction fees.
- Generous welcome bonus applies.
- Comes with some benefits for business, including end-of-year reports.
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Small-business credit cards offer valuable perks for business owners and entrepreneurs, but not everyone picks up a business card for the same reason. Some business owners want to earn rewards on their spending, whereas others want an easy way to keep business and personal purchases separate for accounting purposes. Still other business owners love all the luxury perks they can get with a credit card, such as airport lounge access, annual travel credits, and automatic travel insurance coverage.
Which small-business credit card is right for you? That depends on how much your business spends each month, the type of rewards you want to earn, and how much you want to pay in annual fees. TIME Stamped compared several dozen of the best small-business credit cards available today based on their features, benefits, and ongoing costs. The cards below are our top picks.
The best credit cards for small businesses and entrepreneurs come with a range of perks and features, as well as rewards for spending. The cards below made our ranking based on their rewards rates, welcome offers, and ongoing benefits for members.
Why we chose it: The card_name is best for simplicity due to its generous flat rewards rate of 1.5% cash back and the fact there's no annual fee. These features make this card a great option for small business owners who want to earn basic rewards for spending without worrying about bonus categories or complicated rewards programs.
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Why we chose it: card_name is best for earning travel rewards, as the points it earns fall within the flexible Chase Ultimate Rewards program. This program lets you redeem points for cash back, statement credits, gift cards, travel through Chase with 25% more value, or point transfers to Chase airline and hotel partners.
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Why we chose it: The card_name is one of a handful of business credit cards that offers 0% APR on purchases for a limited time. If you select this card and are approved, you'll automatically get intro_apr_rate,intro_apr_duration (followed by a variable APR of reg_apr,reg_apr_type) (Rates & Fees).
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Why we chose it: We chose the card_name for earning cash back due to its flat rewards rate of 1.5% back on all purchases with annual_fees annual fee.
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Why we chose it: We chose the card_name due to its generous rewards on all types of business purchases. Specifically, this card offers 5% cash back on up to $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each year (then 1% back), 2% cash back on up to $25,000 spent in combined purchases at gas stations and restaurants each year (then 1% back), and 1% back on other purchases.
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Why we chose it: We recommend the card_name because it earns flexible Amex Membership Rewards points with annual_fees annual fee required.
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Why we chose it: The card_name is a good option for business owners who want luxury travel benefits, such as broad airport lounge access around the world, a $200 airline incidentals credit, a 35% airline bonus when booking flights with points, and a fee credit toward Global Entry or TSA PreCheck membership.
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Why we chose it: The card_name is best for everyday spending, as it earns a flat rate of 2% cash back on all purchases. Just remember that it's a charge card and not a credit card, meaning you have to pay your balance in full each month.
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Why we chose it: The card_name is the best business credit card for flights due to its high bonus offer and frequent flyer perks, with no annual fee the first year.
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Why we chose it: The Capital One Spark Classic for Business is for business owners with fair credit who need a leg up when it comes to building their credit. You can be approved even if you have only a "fair" credit score, which means a FICO score from 580 to 669.
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Card name | Annual fees | Credit score needed | Bonus rewards |
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annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles_full | |
annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles_full | |
annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles | |
annual_fees | credit_score_needed | bonus_miles | |
$0 | Average, Fair, Limited | N/A |
To find the best small-business credit cards, we compared options based on their rewards rates, ongoing benefits, and regular fees. We gave preference to card options that come with generous cash-back rates or travel rewards, as well as perks that are commensurate with the annual fee required.
Other factors taken into account include the value of rewards points earned, overall rewards flexibility, intro APR offers, regular APRs, and travel and consumer protections. We also only considered business credit cards that offer cards for employees upon request (with or without a fee).
Small business credit cards are unique in the fact they're typically available to very small companies that may only have one employee. Where some business credit cards for small business require an Employer Identification Number (EIN) to apply, others are available to sole proprietors and self-employed business owners who don't have an EIN but want to apply with their Social Security number (SSN) instead.
Small business credit cards typically offer free employee cards as well, which makes them a smart option for small companies and start-ups that want an easy way to track all workplace purchases under one umbrella and within a single account. Many small business credit cards also offer rewards (cash back, points or miles) that are for the business owner's personal use, although they can be used by the company as well.
Note that small business credit cards require a personal guarantee, which means the business owner is legally responsible for repayment even if their company fails.
There are several reasons to pick up a small-business credit card if you don't have one already, although the motivation to sign up typically varies from person to person. Some notable reasons to get a business credit card include:
To pick the best small-business credit card for your needs, you'll need to think about the type of rewards you want to earn and the benefits you want the most. You'll also need to look at your own personal credit rating, keeping in mind that the best credit cards for small business are typically for consumers with good to excellent credit.
Factors to compare among the best cards include:
Whether you want to keep business spending separate from personal expenses, earn rewards on purchases your business makes, or both, a small-business credit card may be exactly what you need. Spend some time comparing the best card options on our list until you find one that best suits your needs.
For rates and fees of the card_name, please visit this URL.
For rates and fees of the card_name, please visit this URL.
For rates and fees of the card_name, please visit this URL.
For rates and fees of the card_name, please visit this URL.
Business credit cards can include travel credit cards, cash-back credit cards, 0% balance transfer cards, bad-credit credit cards, Mastercard credit cards, American Express credit cards, and more.
Small-business credit cards typically require a personal guarantee, which means your personal credit will be considered for the purpose of qualification. A personal guarantee also means you are legally responsible for repayment of the balance on your card, even if your business ultimately fails.
You will also need a proven income to get approved, as well as enough time in business according to the standards of the card issuer. You may be able to apply for a business credit card with your Social Security number (SSN) if you're a sole proprietor, but you can also apply with an Employee Identification Number (EIN).
You may be able to get approved for a business credit card in a matter of minutes. Or, it can take several weeks to hear back after you submit an application.
To make the most of your small-business credit card, you'll want to use it for regular business purchases and bills in order to boost your rewards haul. That said, you'll want to charge only purchases you can afford to pay in full, as most small-business credit cards have high APRs that make carrying a balance costly.
Also make sure you understand which perks your business card offers, so you can take advantage of them. If your card comes with several annual statement credit offers, for example, keep this information in mind and utilize these offers when you can.
There are some small-business credit cards for bad credit on the market today. These include secured business credit cards and corporate cards that do not check your personal credit.
Yes, you can. However, doing so will likely complicate matters when it comes to accounting purposes.
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