A small business credit card provides special perks and benefits for owners of small businesses. Some even offer rewards like cash back or points redeemable on purchases (similar to the major rewards offered by consumer cards). A few of these cards also provide free employee cards, which can be helpful if you want employees to reimburse their expenses on one statement.
Many different types of small business credit cards are available that specialize in different areas, such as customer service or purchasing (plus exclusive offers and discounts). The best choice depends on the needs of your business. For example, if you typically pay for office supplies in person but stay at hotels online, a hotel-specific travel card might not be right.
Here are the best small business credit cards.
Chase Ink Business Preferred
As the myFICO crew already told you, this is an excellent card to help your business grow with its Ultimate Rewards points. The 80,000-point signup bonus after spending $5,000 in three months easily offsets the $95 annual fee for years to come – especially when you realize it comes with a slew of great benefits like cell phone protection and 24/7 concierge service.
Capital One Spark Cash for Business
With unlimited 2% rewards on all purchases, no spending threshold to unlock the higher earnings rate, and no annual fee, there are plenty of reasons why so many people love their Capital One Spark Cash card. It’s even set up to automatically award your business with a new card as soon as your previous one is paid off – very cool.
American Express SimplyCash Plus Business Credit Card
The Amex SimplyCash Plus is a solid cash-back business credit card that can help you maximize your rewards no matter where you shop. This makes it a good choice for single business owners who prefer simplicity over flexibility. While its 5% cash-back isn’t the absolute highest among small business cards, it’s still competitive enough to make many top 10 lists anyway. With up to 1% foreign transaction fee and 0% intro APR on purchases and balance transfers for 15 months, this is another well-rounded card from American Express.
Chase Ink Cash Business Credit Card
This isn’t one of Chase’s most talked-about cards, but that’s not because it’s bad – just overshadowed. The 50,000 signup bonus after spending $3,000 in the first three months is hard to beat for this type of card. This doesn’t cover more exotic business expenses like cell phones, office supplies, utility bills, or contractor payments, but few cash-back cards do.
Capital One Spark Classic for Business
The Spark Classic is a nice mix of old and new with its classic rewards structure yet modern mobile app platform, which makes it great for small business owners who want simple cash-back earnings without worrying about rotating quarterly categories or keeping up with bonuses thresholds. It also has no foreign transaction fees if you plan to travel internationally.
Capital One Spark Cash Select for Business
As the name implies, this is a slightly less generous version of the standard Spark Cash card, but it’s still plenty rewarding and flexible enough to work in most small businesses. The only major difference between this and other top-tier cash-back business cards is that there’s no signup bonus – which isn’t all bad because you’ll get 2% back on every purchase right from day one instead.
Wells Fargo Cash Wise Visa Credit Card for Small Businesses
The signup bonus on this premium cash-back credit card can’t be beaten: earn $200 after spending just $1,000 in the first three months! On top of that, you also get 1.5% cashback on every purchase. The catch is that it’s only good for the first year, after which the rewards rate drops to 1%.
Capital One Spark Cash Select for Business
This is essentially the same card as the regular Spark Cash with one key difference: no bonus! Suppose you don’t plan on spending much in bonus categories like gas or restaurants, and you’re okay earning a little less cash back overall in exchange for not having to keep track of rotating quarterly category bonuses. In that case, this might be a better option for your business. Plus, there is no annual fee whatsoever.
Capital One Spark Miles Select For Business
If travel redemptions are more your speed, check out this version of the standard Spark Cash card with a twist – you can redeem your miles for travel statement credits at a rate of 1 cent per mile. This means you’re essentially earning 2% on everything, but it’s capped since there is no signup bonus and the usual threshold before earnings bump up to 2% is $1,000.
US Bank Business Edge Cash Rewards Visa Card
If you want simplicity without all the rotating categories to consider each quarter, check out this very straightforward cash-back credit card that earns an unlimited 3% on gas station and office supply store purchases, 2% at restaurants, and 1% everywhere else on up to $50k in spending per year (then 1%). There’s also no annual fee. However, if you don’t mind a little more thinking, there is a better choice.
In conclusion, if you’re looking for simplicity in your business spending, the US Bank Business Edge Cash Rewards credit card is worth considering. The 3% cash-back on gas station and office supply store purchases, 2% at restaurants, and 1% everywhere else (up to $50k per year) make this an attractive option for small businesses looking to maximize their rewards earnings without filling out complicated bonus categories or keeping track of rotating quarterly bonuses. Plus, there’s no annual fee!
However, suppose you don’t mind a little more thinking involved (and feeling like you’re missing out on better deals bypassing up bonus categories). In that case, the Capital One Spark Cash Select for Business is also worth checking out with its 2% cash-back on all purchases with no bonus category restrictions. This is a better choice for someone who wants the simplicity of a flat earnings rate without worrying about taking advantage of rotating categories.