Best Business Credit Cards for 2024

Best Business Credit Cards for 2024

Posted: July 9, 2024 | Updated: July 9, 2024

If you run a business, you understand the value of having additional funds available. A business credit card can be extremely helpful for many reasons. It assists in separating personal and business expenses, simplifying financial management, especially during tax season. It also provides crucial financial support during tough times. Additionally, many business cards offer the option to issue free cards for employees. We have evaluated many widely used options and selected the best business credit cards for 2024 that may be ideal for your business, regardless of the industry. Continue reading to find out more.

Top Business Credit Cards for 2024

Below is a list of popular business credit cards. These cards are sorted based on their diverse features, which are suitable for different customer types. Detailed information about each card’s welcome bonuses and other features is below.

1. Ink Business Unlimited® Credit Card

Ink Business Unlimited® Credit Card

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The Ink Business Unlimited Credit Card may be suitable if you want a versatile cash-back credit card without an annual fee. It’s particularly advantageous for small business owners who prefer simplicity and cost-effectiveness in their financial tools.

Here are some of the highlights of the Ink Business Unlimited:

  • Receive 1.5% cash back on all your business-related purchases continuously.
  • When you spend $6,000 in the first three months after creating your account, you will receive a $750 extra cash back.
  • There is no annual fee.
  • This account is FDIC-backed.
  • Redeem rewards for gift cards, travel, cash back, and more through Chase Ultimate Rewards®.
  • A 3% fee applies to foreign transactions.
  • Your account is monitored continuously to detect unusual credit card activity.
  • Add employee cards, too, at no additional cost. You can set individual spending limits for improved financial management.
  • Benefit from an introductory 0% APR on purchases for the first 12 months.
  • Zero Liability protection means you are not held responsible for unauthorized charges made with your card or account information.

2. American Express Blue Business® Plus Credit Card

American Express Blue Business® Plus Credit Card

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The Blue Business Plus Credit Card from AmEx offers a straightforward way for business owners to accumulate American Express Membership Rewards points. This card provides a competitive earning rate of 2 Membership Rewards points per dollar on standard business expenses such as office supplies or dining with clients, up to the first $50,000 spent annually, and then 1 point per dollar on subsequent purchases. Additionally, this card does not require an annual fee.

Here are some of the highlights of the Blue Business Plus Credit Card:

  • An introductory APR of 0% on purchases for 12 months from the date of account opening, followed by a variable rate of 18.49% to 26.49%, depending on creditworthiness and other factors. The APR will not exceed 29.99%.
  • A welcome offer of 15,000 Membership Rewards® points after making $3,000 in eligible purchases within the first three months of membership.
  • The Expanded Buying Power feature allows you to spend beyond the set credit limit. The amount you can spend above your credit limit varies based on card usage, payment history, credit record, financial resources, and other factors.
  • Zero annual fee.

3. Capital One Spark Cash Plus

Capital One Spark Cash Plus

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The Capital One Spark Cash Plus card is well-suited for businesses with substantial spending requirements. It offers 2% cash back on all purchases without any limitations or specific categories to monitor.

This card includes a $150 annual fee, which is waived for the first year. Additionally, it provides an opportunity to earn a substantial cash bonus: $500 after you spend $5,000 in the first three months and another $500 after spending $50,000 within the first six months of account opening.

The card features complimentary employee cards, enhancing your ability to monitor and control team expenditures. You also gain access to advanced security measures such as fraud alerts and a $0 fraud liability policy to safeguard your business finances. With a simple rewards structure and significant benefits, the Capital One Spark Cash Plus card is a strong option for businesses aiming to optimize their cash-back earnings and streamline expense management.

Here are some of the highlights of the Capital One Spark Cash Plus:

  • A one-time $1,200 cash bonus after spending $30,000 within the first three months.
  • Free additional cards for employees, with all purchases on these cards also earning unlimited 2% cash back.
  • The spending limit is flexible and adjusted according to your spending habits, payment history, and credit profile.
  • The card operates on a pay-in-full model each month—Hence, there is no APR.
  • Unlimited 5% cash back on hotel and car rentals booked through Capital One Travel.
  • The annual fee is refundable if your yearly spending reaches $150,000.

4. Business Platinum Card® from American Express

Business Platinum Card® from American Express

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The Business Platinum Card from AmEx offers substantial rewards and benefits, making it a suitable choice for business owners. It features a strong welcome bonus, especially beneficial for those with significant initial spending. The card provides tiered rewards on purchases in key business categories, increasing the value of each dollar spent.

Additionally, it offers statement credits on various business essentials, which can improve cash flow and add value to the card. The card includes excellent travel benefits for those who travel frequently, providing comfort and convenience. Despite its high annual fee, the potential returns from spending can offset this cost for businesses with high expenditures.

Here are some of the highlights of the Business Platinum Card:

  • Earn 150,000 Membership Rewards® points after spending $20,000 on eligible purchases within the first three months.
  • Receive 5X Membership Rewards® points on flights and prepaid hotels booked through AmexTravel.com.
  • Earn an additional 0.5 points per dollar on large purchases of $5,000 or more at U.S. suppliers of construction materials, hardware, electronics, cloud services, and shipping, up to $2 million per calendar year. Earn 1X points on other eligible purchases.
  • Receive a $200 credit each calendar year for incidental airline fees.
  • Access over $1,000 in credits for select business expenses in the first year (enrollment required).
  • Enjoy complimentary access to more than 1,400 airport lounges worldwide with the American Express Global Lounge Collection®.
  • Receive up to $189 in credits annually for CLEAR® Plus membership.
  • The annual fee is $695.

5. Ink Business Cash® Credit Card

Ink Business Cash® Credit Card

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The Ink Business Cash® Credit Card is a practical choice for small businesses, offering rewarding benefits for typical business expenses. This card features an appealing introductory offer and does not charge an annual fee. It also provides a zero percent introductory APR on purchases. Employees can be added to this account without additional costs.

However, be aware of the foreign transaction fees and the necessity to manage repayments effectively once the promotional period ends to avoid high interest rates.

Here are some of the highlights of the Ink Business Cash:

  • Receive 5% cash back on the first $25,000 spent annually on combined purchases at office supply stores and on cable, internet, and phone services.
  • Receive a $350 bonus after $3,000 worth of spending within the first three months and a $400 bonus after spending $6,000 within the first six months of opening your account.
  • Benefit from a 10% Business Relationship Bonus when you hold both the Ink Business Cash card and a Chase Business Checking account by the end of your first year.
  • Earn 2% cash back on transactions up to $25,000 annual spending at restaurants and gas stations. All other transactions receive 1% cash back.
  • Redeem your rewards for cash back, gift cards, travel, and more through Chase Ultimate Rewards®.
  • Zero Liability protection means you are not held accountable for unauthorized charges made with your card or account information.
  • Take advantage of 0% APR for the first 12 months on purchases.

6. Capital One Venture X Business Credit Card

Capital One Venture X Business Credit Card

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The Capital One Venture X Business card offers a diverse rewards program for small business owners. This card allows you to earn 2x miles on every purchase, potentially earning up to 10x miles for bookings made through Capital One Travel. It operates on a pay-in-full basis with no preset spending limit, requiring the full balance to be cleared monthly. An annual fee of $395 is charged, but cardholders receive a $300 travel credit annually for bookings made via Capital One Travel and an additional 10,000 bonus miles each renewal year.

Card benefits include reimbursement for TSA PreCheck or Global Entry fees and complimentary access to over 1,300 lounges globally. Miles can be redeemed for travel, statement credits, and more, and can also be transferred to over 15 airline and hotel partners for potentially greater value.

Here are some of the highlights of the Capital One Venture X Business:

  • Receive 150,000 bonus miles after spending $30,000 within the first three months from account opening.
  • Earn unlimited 2X miles on every purchase without any restrictions.
  • Enjoy 10,000 bonus miles on your annual account anniversary and a $300 travel booking credit.
  • Earn 10X miles on rental cars and hotels and 5X miles on the flights booked from Capital One Travel.
  • Get up to $100 credit for TSA PreCheck® or Global Entry and unlimited pass to Capital One, including affiliated lounges worldwide.
  • Provide your team with free employee and virtual cards, facilitating the easy accumulation of rewards and integration with accounting systems.
  • Enhance your experience at select luxury hotels and resorts with a $100 credit and additional premium benefits per stay.

7. Ink Business Preferred® Credit Card

Ink Business Preferred® Credit Card

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The Ink Business Preferred Credit Card is designed for business owners who want to maximize rewards on typical expenses like travel, shipping, and telecommunications services.

Points earned with this card can be used for cash back, gift cards, or unique experiences, with each point valued at one cent – When used for travel via Chase TravelSM, points gain a 25% increase in value, offering 1.25 cents per point. Points can be transferred to 14 airline and hotel partners affiliated with Chase for additional value.

Here are some of the highlights of the Ink Business Preferred:

  • A bonus of 100,000 points after spending $8,000 within the first three months of account opening, equivalent to $1,000 cash back or $1,250 for travel when redeemed through Chase Travel℠.
  • Three points per dollar on the first $150,000 spent annually on travel and selected business categories, and one point per dollar on all other transactions.
  • Continuous monitoring to detect unusual purchases on your card.
  • Zero Liability protection, ensuring you are not responsible for unauthorized charges.
  • Points redemption options include cash back, gift cards, and travel, with no expiration as long as the account remains active.
  • Points are valued 25% higher when redeemed for travel through Chase Travel℠.
  • Purchase Protection covers new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.

8. Ramp Corporate Card

Ramp Corporate Card

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The Ramp Corporate Card is suitable for startups needing a credit history. To qualify, startups need an Employer Identification Number (EIN) and at least $50,000 in a business bank account. Ramp does not require a credit check or personal guarantee. The card provides cash back on purchases and includes expense management software to help organize your business finances.

Key features of the Ramp Corporate Card include receipt matching, subscription management, and AI-driven spending analysis. It is a good option for startups looking to manage expenses and earn rewards on business purchases.

Here are some of the highlights of the Ramp Corporate Card:

  • Unlimited 1.5% cash back on all purchases without a minimum spending requirement.
  • There are no annual or foreign transaction fees.
  • There is no need for a personal credit check or guarantee.
  • Ability to issue an unlimited number of virtual and physical cards for employees.
  • Built-in controls to prevent spending that violates company policies, with restrictions possible by category or merchant.
  • As a Visa-powered corporate charge card, businesses must settle their full balance monthly.
  • A minimum of $75,000 in any U.S. business bank account is required.
  • Primary operations and spending must be within the U.S., although Ramp does support international transactions without transaction fees.
  • This offer is available to corporations, LLCs, and limited partnerships only. Individuals, sole proprietorships, and unregistered businesses do not qualify.

Which Credit Card Is Best for Your Business?

Choosing the best business credit card for your company involves understanding your business’s unique needs and spending habits. Here’s a guide to help you select a card that maximizes benefits for your company:

  • Assess Your Spending Patterns: Consider where your business spends the most money. Different cards offer rewards for various categories, such as travel, office supplies, or dining. For example, the Ink Business Cash® Credit Card offers significant cash back on office supply purchases and telecommunications services, making it a strong choice for businesses with high office-related expenses.
  • Consider Cash Flow Needs: If your business experiences seasonal fluctuations or you often face delayed payments, a card offering a 0% introductory APR, like the American Express Blue Business® Plus, can provide a buffer by allowing you to carry a balance without incurring interest for a set period.
  • Evaluate Fee Structures: Weigh the benefits of any rewards against potential fees. Cards like the Capital One Spark Cash Plus have an annual fee, but the cash-back benefits can offset this cost if your spending is high enough. Conversely, a card with no annual fee, like the Ink Business Unlimited®, might be more appealing if you’re cost-conscious.
  • Look at Additional Perks: Some cards come packed with extras that can be highly beneficial. For instance, the Business Platinum Card® from American Express offers extensive travel benefits, including access to airport lounges and hotel credits, which are valuable for businesses with frequent travel needs.
  • Employee Management: If you need to issue cards to employees, look for options that allow you to set individual spending limits and monitor transactions easily. The Capital One Spark Cash Plus and others offer free employee cards, which can simplify expense tracking and reinforce spending controls.

Conclusion

Selecting your company’s best business credit card can significantly improve financial management and provide valuable rewards. Each card offers unique benefits tailored to business needs, from cash-back rewards and travel perks to streamlined expense management and zero liability protection.

Cards like the Ink Business Unlimited® Credit Card and the American Express Blue Business® Plus Credit Card provide versatile rewards without annual fees, making them ideal for small businesses. For larger spending, the Capital One Spark Cash Plus and the Business Platinum Card® from American Express offer substantial cash-back and rewards opportunities. Choosing the right card can enhance your business’s financial flexibility and support its growth in 2024.

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