A business credit card can be a great tool if you own a business, whether a storefront, eCommerce store or even a freelance gig. It helps you keep your business and personal finances separate and enables you to keep track of what you’re spending on your business.
Like personal credit cards, you must use business credit cards wisely, or you could get in over your head. When used right, though, they can help you build a business credit score, build relationships with vendors and creditors, and have more opportunities to grow your business.
Best Business Credit Cards with No Annual Fee
Annual fees can add to your expenses; it may not be worth it if you don’t take advantage of the credit card’s rewards. Fortunately, several business credit card options do not include annual fees.
Ink Business Unlimited Credit Card
The Ink Business Unlimited credit card offers valuable rewards and no annual fee. It’s an excellent card for established businesses and freelancers, especially if you meet the spending threshold to earn the introductory bonus.
APR: 0% APR on purchases for the first 12 months, then 13.24% – 19.24%
Annual fee: $0
Features:
- Earn $750 bonus cash if you spend $7,500 in the first three months you have the card
- Earn 1.5% cashback on all purchases
- Get employee cards at no cost to earn rewards faster
- There are plenty of opportunities for redemption, including gift cards, cash, or travel rewards
- $0 fraud liability coverage
Bank of America Business Advantage Customized Cash Rewards Card
The Bank of America Business Advantage Customized Cash Rewards card allows you to choose your top earning category. You choose the category you spend the most in, and that’s where you’ll earn 3% cash back, the highest reward on the card.
With no annual fee, this is a great card in your arsenal, even if you only use it for your top spending category.
APR: 0% APR for the first nine months on purchases, then 12.24% – 22.24%
Annual fee: $0
Features:
- In addition to the 3%, you earn in ‘your category,’ you can earn 2% cash back on dining and 1% on everything else
- Earn a $300 cash-back bonus if you spend $3,000 in the first three months
- Cashback options include a deposit in your B of A bank account, a statement credit, or a check
- You need excellent credit to qualify
American Express Blue Business Cash Card
If you want a card that doesn’t track categories and you earn the same cash back percentage no matter what you spend money on, the American Express Blue Business Cash Card is a great option.
APR: 0% APR on purchases for first 12 months, then 13.24% – 19.24%
Annual fee: $0
Features:
- Earn a $250 bonus if you spend $3,000 in the first three months.
- Earn 2% cash back on all purchases up to $50,000, then 1% on all purchases for the rest of the year
- Potential to go beyond your credit limit if needed, but this varies by the cardholder.
- All cash back earned is a statement credit
Best Business Credit Cards with an Annual Fee
Sometimes, you must pay an annual fee to get the real rewards. The cards above offer decent rewards even without an annual fee, but if you’re a big spender, you may want to consider one of the business credit cards below.
Capital One Spark Miles for Business
The Capital One Spark Miles for Business is a great option if you travel often. You earn 2x miles for every purchase, with no category requirements or maximum earnings. There are also very few restrictions on your travel options, giving you more flexibility for a small annual fee.
APR: 20.99%
Annual fee: $0 for the first year, then $95 each year
Features:
- Earn 50,000 miles bonus ($500 travel dollars) if you spend $4,500 in the first three months
- Instant redemption of your rewards for any travel necessities
- Transfer your rewards to many popular travel loyalty programs
- Cards for your employees to help you earn rewards faster
- A one-time credit for a TSA PreCheck or Global Entry fee
Capital One Spark Cash Plus
If you’d prefer not to track categories and instead earn cashback for every purchase, the Capital One Spark Cash Plus can be a good option. But there’s a catch. You must pay your balance in full each month – you can’t carry a balance. But you get 2% cashback on everything, with no limits or categories to worry about.
APR: n/a
Annual fee: $150
Features:
- The potential to earn bonuses twice, $500 when you spend $5,000 in 3 months and another $2,500 when you spend $50,000 in 6 months
- Earn 2% cash back on all purchases, no limits
- Rewards never expire
- You don’t have a spending limit, except you must pay the balance in full each month.
American Express Business Gold Card
If you want to get rewarded for your two highest spending categories for the month rather than tracking categories, the American Express Business Gold Card is a great option. You can earn 4x Membership Rewards on your top 2 categories and 1x on everything else.
APR: 14.24% – 22.24%
Annual fee: $295
Features:
- Earn 70,000 bonus points if you spend $10,000 in the first three months
- Earn 25% of your points back if you redeem them for travel through AMEX Travel
- The option to pay in full or pay over time with interest
Final Thoughts
Having a business credit card or two in your arsenal can help you build your business credit score and free up space for the things you need.
We all know businesses are expensive to maintain, grow, and sometimes even keep afloat. A business credit card can free up some capital while allowing you to get what you need to build your business. While it’s not ideal to carry a balance, sometimes it’s necessary to know which cards are worth the cost of carrying.
