Find the Right Business Credit Card for Your Needs

Credit cards are an incredibly easy way to finance business purchases, and there are many cards specifically designed for businesses. If you want to apply for and use a business credit card, you’ll want one tailored to the unique needs of your organization. We’ve selected some credit cards below that may be well-suited to your business, but before we dive into the details, let’s explore the advantages and disadvantages.

Advantages of Business Credit Cards

Business credit cards can be great for your finances if they’re used properly.

Free up Your Cash Flow

We strongly recommend building up a cash buffer in your business. But if you haven't been able to do that yet, business credit cards can be a helpful stopgap measure. You can use them to plug short-term holes in your business finances — though interest costs can easily build up over time if you do this for too long.

Improve Your Business Credit Score

Your business has a credit score that banks use to decide if they want to lend you money. One of the best ways to boost your credit score is to get a business credit card, keep your credit utilization low and make every payment on time.

Get Cash Back and Other Incentives

Many credit cards have reward and cash back schemes built in. Used well, these programs can provide you with a small boost to your finances, which can be very useful for fledgling businesses.

Disadvantages of Business Credit Cards

Of course, it’s not all sunshine and roses — business credit cards need to be carefully managed too.

Treating Credit as “Invisible” Money

Because you’re not seeing money come out of your bank account right away, it’s easy to treat credit cards as free or “invisible” money. Of course, this isn't the case — they still need to be repaid. You should pay as much attention to credit card purchases as any other business payments, and work them into your budget and profit margins accordingly.

Only Making Minimum Payments

The great “con” of all credit cards is the attractiveness of only making the minimum payment due every month. Although this might seem like a good idea in the short-term, over the medium- to long-term you will pay far more in interest. Always try to pay off the full balance owed every month (or at least as much as you can afford).

Paying Too Much in Interest

Minimum repayments and high interest rates can really increase the amount you pay overall and eat into your profitability. Keep a close eye on how much you’re paying in interest, and pay your loans down ASAP.

Not Making Payments or Making them Late

Whatever you do, always make your payments every month. Failing to pay or making delayed payments can have a dramatic impact on your business credit score.

The Best Business Credit Cards for You

Now that we’ve been over the pros and cons of business credit cards, let’s explore some that could be right for your business.

Card Name

Ink Business Preferred

Ink Business Cash

Spark Cash

Spark Cash Select

SimplyCash Plus

AAdvantage Platinum Select World Mastercard

APR

17.24% to 22.24%

14.49% to 20.49%

18.24%

14.24% to 22.24%

13.49% to 20.49%

16.99% to 24.99%

Annual Fee*

$95

None

$95

None

None

$95

Chase Ink Business Preferred Credit Card

APR interest rate: 17.24 to 22.24 percent, based on business creditworthiness
Annual fee: $95 Special

Offers and Incentives 

  • 80,000 bonus points after you spend $5,000 on purchases in the first three months after account opening, which is equal to $1,000 toward travel rewards when redeemed through Chase Ultimate Rewards
  • Flexible rewards to earn three times as many reward points when you spend in select business categories
Chase Ink Business Cash Credit Card

APR interest rate: 14.49 to 20.49 percent, based on business creditworthiness
Annual fee: None

Special Offers and Incentives 

  • $300 bonus cash back after you spend $3,000 on purchases in the first three months after account opening
  • Cash back rewards with no annual fee, so you can earn cash back rewards on every purchase
  • Zero percent introductory APR for 12 months from account opening on purchases and balance transfers
Capital One Spark Cash for Business

APR interest rate: 18.24 percent (businesses must have excellent credit scores)
Annual fee: None for the first year, $95 for each subsequent year

Special Offers and Incentives 

  • 2 percent cash back with no minimum to redeem
  • $500 cash bonus once you spend $4,500 on purchases within the first three months from account opening
  • Add employee cards at no additional cost
  • No foreign transaction fees when making purchases outside of the United States
  • Cash back rewards never expire
  • Visa emergency services including ticket replacement, legal and medical referrals
Capital One Spark Cash Select for Business

APR interest rate: 14.24 to 22.24 percent
Annual fee: None

Special Offers and Incentives

  • 1.5 percent cash back with no minimum to redeem
  • $200 cash bonus once you spend $3,000 on purchases within the first three months from account opening
  • Add employee cards at no additional cost 
  • Zero percent introductory APR on purchases for nine months
  • Cash back rewards never expire
American Express SimplyCash Plus

APR interest rate: 13.49 to 20.49 percent, based on business creditworthiness
Annual fee: None

Special Offers and Incentives

  • Between 1 percent and 5 percent cash back across various categories 
  • Cash back amounts are greater on business-related goods and services 
  • Buy above your credit limit with no penalty, based on the history and creditworthiness of your account 
  • Travel and transportation perks and protection
Citibank CitiBusiness / AAdvantage Platinum Select World Mastercard

APR interest rate: 16.99 to 24.99 percent, based on business creditworthiness
Annual fee: $95

Special Offers and Incentives

  • Earn 60,000 American Airlines AAdvantage bonus miles after spending $3,000 in purchases within the first three months of account opening 
  • No foreign transaction fees on purchases 
  • Perks on American Airlines flights 
  • Receive employee cards at no additional cost 
  • Earn double miles on all eligible American Airlines purchases and on purchases in select business categories
  • Worldwide car rental and travel accident insurance
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