Adam McCann, Financial Writer
The best credit card to get for business expenses is the Capital One Spark Cash Plus card because it is intended for business use and offers lucrative rewards. The card provides 2 - 5% cash back on purchases, has a relatively low annual fee at $150, and offers free employee cards.
There are several other credit cards designed specifically for business expenses that are worth considering, too.
Best Credit Cards for Business Expenses
It is a good idea to research and compare several different business credit cards to find the one that best meets your needs. You can learn more about the best business credit cards on WalletHub.
Key Factors to Consider When Choosing a Credit Card for Business Expenses
- The types of expenses you will charge: For example, you may want to get a card that offers bonus rewards on business-related expenses such as office supplies, travel, and advertising.
- Rewards and other perks: Some cards offer more lucrative rewards rates than others, as well as supplemental perks such as free employee cards, expense tracking tools, and concierge services.
- Fees: The annual fee is the most important fee to consider. You should be able to get more value out of the card than the annual fee costs you each year. Other fees to take into consideration are foreign transaction fees, late fees and balance transfer fees.
- Interest rates: If you plan to carry a balance, you’ll want as low of an APR as possible. Some cards even come with introductory 0% APRs, which are great for financing big purchases. If you plan on paying the balance in full every month, this is less important.
- Using a Credit Card for Business Expenses as an Employee
Sometimes, businesses will reimburse you for business expenses you charge to your personal credit card. If you want a card specifically for that purpose, you’ll probably want to look at some of the best rewards credit cards. You shouldn’t have to worry about interest charges if your company reimburses you promptly, so you can concentrate on maximizing how much you earn in cash back, points or miles.
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