Business cards are created specifically for companies, making payments quick and easy. Its main advantage is that it can be used like a regular card: you can pay daily expenses and purchases, withdraw money from an ATM, and issue additional business cards for employees.
A business card is given by the bank where you have a current account. It is suitable for any type of business and tax system. It doesn’t matter what you have: an IT company, a jewelry manufacturer, or a famous restaurant.
Business Credit Cards: Best Offers
Choosing your first business card may be challenging. There are many factors to think of: bonus system, cash-back percent, the amount of the welcome bonus, annual fee amount, additional benefits, and others. We have selected the best business credit cards, which will be described in detail below so you can choose the most suitable option.
The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express has some cool advantages, like a high reward rate. It also has no annual fee. This is a good option for a small company with great beginner’s expenses.
- Rewards
This card gives a chance to earn double points on up to $50,000 in purchases per year and resets every year.
- Welcome Offer
You can earn 15,000 Membership Rewards points though only after you spend $3,000 within your first season of having the card. Other business credit cards usually have about a $500 welcome bonus.
- Annual Fee
Absent.
Pros
- No annual fee
- Doubled bonus only on the first $50,000 in purchases.
Cons
- Has the Expanded Buying Power feature, meaning you can spend beyond your credit limit.
No annual fee is a good reason to choose this card.
Ink Business Unlimited® Credit Card
This is one of the business credit cards for startups and is a no-annual-fee like the previous one. What differs is that it is a straightforward rewards system with cash-back expenses, even in non-bonus types.
- Rewards
There are no categories but a rate of 1.5 points per every dollar spent. Rewards come in the form of Chase Ultimate Rewards points. They have a value of 1 cent each when redeemed as cash-back.
- Welcome Offer
This card has a $750 welcome bonus cash back but only after a purchase of $7,500 on purchases in the first three months from account opening.
- Annual Fee
Annual fee is absent.
Pros
- No annual fee
- Intro APR period.
Cons
- No precise bonus categories.
This one is created for small companies, so freelancers are most likely to get approval.
American Express® Business Gold Card
The American Express® Business Gold Card is a solid option for entrepreneurs eager to get famous rewards in the business world. You can earn 4 points/dollar on the two select categories. The system is challenging, but it is worth it.
- Rewards
Get 4x Membership Rewards® on the two special categories where your company spent the most.
- Welcome Offer
Earn 70,000 Membership Rewards when spending $10,000 with the American Express® Business Gold Card as a welcoming offer.
- Annual Fee
Relatively high annual fee: $295.
Pros
- Flexible reprieve and points exchange
- Rich travel benefits.
Cons
- Relatively high annual fee.
This option is rather glam and is suitable for older businesses.
World of Hyatt Business Credit Card
This card’s annual fee is much higher than the fee other cards of this level have, though one can get up to $100 yearly for purchases made at Hyatt properties. Check other advantages below!
- Rewards
This card is suitable for those who travel for work. They have a plain chance to gain extra rewards through work spending on trips. Check the welcome offer!
- Welcome Offer
It is the huge advantage of this card, created to catch your attention and never lose it again. $60000 after you spend $5,000 in the first quarter after the opening.
- Annual Fee
$199 annual fee, but free for the first year.
Pros
- Welcome offer and no fee for the first year as a welcome bonus
- You can use these business credit cards for bad credit.
Cons
- High annual fee after the first year
- The low earning rate for non-bonused purchases.
Amazing choice for those who travel for work.
Wells Fargo Business Elite Signature Card
The Wells Fargo Business Elite Signature Card has outstanding travel perks with an annual fee of $125, which is a good deal for these offers. This card is the perfect choice for a company with a high sales volume.
- Rewards
With this card, you can pick the categories for your bonuses. Either 1.5% cash-back or 1 point per dollar. When choosing the second option, you can earn 5,000 bonus points each billing cycle for hitting a $10,000 spending threshold.
- Welcome Offer
The welcome bonus is as clear as possible. You can choose either a $1,000 one-time cash-back bonus or 100,000 bonus points. However, this will work after the first $15,000 for a limited time.
- Annual Fee
Free for the first year and $125 afterward.
Pros
- Outstanding benefits, including insurance
- No foreign transaction fees.
Cons
- Present annual fee from the second year.
Good choice if you are patient enough to understand the bonus system.
Ink Business Cash® Credit Card
This card has solid cash-back in categories where many businesses have huge expenses like office supplies or gasoline expenses, for example. They offer 2-5%, making them a solid small-company credit card with no annual fee.
- Rewards
Check the categories available for cash-back to know if this card suits you. If you already have one that earns points, you can increase your profits in these categories with no extra fee.
- Welcome Offer
A welcome bonus of $500 after you spend $4,500 in the first season.
- Annual Fee
No annual fee advantage.
Pros
- No annual fee
- Intro APR period
- Nice welcome bonus.
Cons
- Requires good credit score.
Outstanding option for office businesses.
Amazon Business Prime American Express Card
This card is a good option only if you tend to use Amazon, and it also covers all Amazon Web Services with bonuses. Amazon Business Prime American Express Card is a perfect option for initial clients of Amazon services. However, it has some bonuses for others too.
- Rewards
The cardholder can earn 5% back in rewards buying at Amazon Business, AWS, Amazon.com, and Whole Foods Market having an eligible Prime membership.
- Welcome Offer
This card gives a $750 bonus cash-back as a welcome offer after spending $7,500 on purchases in a limited time.
- Annual Fee
No annual fee.
Pros
- No fee for a transaction from a foreign card.
Cons
- Amazon Prime membership required.
Works well if you already have an Amazon Prime membership.
U.S. Bank Business Leverage® Visa Signature® Card
This plastic one is the one that will adjust to your business expenses. The U.S. Bank Business Leverage® Visa® provides a 5% cash back without limits on car rentals and hotels. However, to receive a bonus, you should book them exactly in the Travel Rewards Center.
- Rewards
They also offer 2% cash-back in the two categories of the 30 days and 1% cash-back per dollar on all other eligible purchases. The disadvantage is that the points expire five years counting from the end of the quarter.
- Welcome Offer
Available welcome offer in the size of $750 in rewards after spending $7,500 within the first three months.
- Annual Fee
Free for the 1st year, then $95 annually.
Pros
- No annual fee for the 1st year
- No fee is charged for foreign transactions
- Nice welcome bonus.
Cons
- No significant additional bonuses.
Middle option with low annual payment and corresponding bonus offers.
The Hilton Honors American Express Business Card
A great welcome bonus on this one makes it worth your attention! You will probably find things that suit you. Pay special attention to the system of rewards.
- Rewards
There is a system of rewards at the following rates:
Twelve Hilton Honors Bonus Points/dollar – purchases at hotels and resorts within the Hilton portfolio,
Six points/dollar – gas stations in the U.S., and also on wireless phone services and booked flights, etc.,
Three points/dollar on all other eligible purchases.
- Welcome Offer
After spending $3,000 on this card, you can earn 130,000 Hilton Honors Bonus Points.
- Annual Fee
$95 annual fee.
Pros
- A foreign transaction fee is absent
- Clear reward system.
Cons
- Points have a low redemption value.
Works for specific businesses, though with low annual rates and reward systems, can be considered.
Delta SkyMiles® Reserve Business American Express Card
This one is created for those who want to have elite status with Delta and get into Delta Sky Clubs, which is desired by many. The annual fee here is high, but you’ll receive an exceptional feeling of club belonging.
- Rewards
The Delta SkyMiles gives you 3 miles per dollar on Delta purchases and 1 mile per dollar on all other things.
- Welcome Offer
One hundred thousand bonus miles as a welcome bonus will be given if you spend $6,000 in the first three months.
- Annual Fee
High rate of $550 annually.
Pros
- Complimentary Delta Sky Club® access.
Cons
- The high annual fee for an airline credit card.
A solid option for those who want to belong to Delta Club.
What Is a Business Credit Card?
It allows you to carry out transactions in the best way and helps avoid risks and costs arising from using cash. You can also use services like paydaysay.com to get some cash before your card is ready. Find answers to the main questions here in the article.
If the plastic is issued to a specific person, it cannot be transferred to another person without changing the contract with the bank. If such a person is not indicated, then the order of the enterprise may determine the list of persons who have the right to use this type of plastic. You can first define several authorized persons, while operations on them can be displayed both on one account and on separate sub-accounts.
How to Choose the Right Credit Card For Your Business
It all depends on the size of your company and the cost structure. Business cards are debit and credit. A ruble debit is enough for an individual entrepreneur with a small turnover.
And if you urgently need to pay suppliers or contractors but don’t have the required amount, business credit cards will help. The bank sets credit limits, but in any case, you will have some amount for insurance.
For large enterprises, it is worth issuing several cards at once – for example, credit cards for a manager or chief accountant and debit cards for ordinary employees. You can set an individual limit for each card so that employees do not spend too much.
It is especially convenient with business trips: there is no need to give out cash to subordinates and fool around with currency exchange when it comes to foreign trips. Issue an additional plastic and get a full report on where, when, and what exactly the employee spent money on.
How to Apply for a Small Business Credit Card?
You can get this type of plastic at the bank where your company has a current account. Select the appropriate option from the list and find the nearest bank branch or apply online to open an account.
Usually, corporate payment plastic comes as an additional service when opening a current account. In many banks, the number of business cards that can be linked to an account is unlimited. That is, the client himself determines how many business credit cards he needs for work.
You can apply directly at a bank branch or by ordering through its official website. The main requirement that many financial institutions set is the presence of a current account.
Banks request the following documents: statement of the head of the organization, constituent documents – the charter, and the memorandum of association (for a bank where the individual entrepreneur does not yet have a current account).
If cards are issued for a specific employee, you need his passport and application, as well as a power of attorney from the head of the company with the right to manage funds. Further, the bank signs an agreement with the organization for issuing and maintaining cards.
Pros and Cons of Best Business Credit Cards
Check these advantages and disadvantages of the best business credit cards.
Pros:
- round-the-clock access to funds for trusted persons – employees do not need to contact the cash desk of the enterprise or go to the bank;
- the settlement with counterparties online and offline;
- cash withdrawal (only for individual entrepreneurs);
- the owner of the organization instantly tracks the actions of employees on transactions;
- the ability to urgently increase the spending limit for an employee on a business trip;
- conversion into the currency of the host country without opening a special account;
- servicing a corporate bank card is cheaper than constantly withdrawing cash by check at a bank.
Cons:
- The risks include the “human factor” – the inattention of employees in the calculations, the use of a business card as a “personal” debit card, and the loss of documents confirming transactions. In this case, it is recommended to give clear instructions on using cards, limit the balance on the account, and strengthen liability for improper spending of funds by an internal company order.
This is a solid guide for the best business cards in April 2024. Choosing your first business card may be a difficult task. There are many things to consider: bonus system, cash-back percent, the amount of the welcome bonus, annual fee amount, additional benefits, etc. Pay attention to the pros and cons of each option to make a decision.
