Business Credit Cards for New Businesses

A business credit card is a credit card designed specifically for business use. Business credit cards typically offer lucrative rewards in common company spending categories, helpful expense-tracking tools, and the ability to make numerous employees authorized users. They also do not enjoy the same user protections as personal credit cards, including a guarantee that the interest rate on an outstanding balance won’t suddenly skyrocket for no reason. That is why a personal card is actually the best option for business when big-ticket expenses are involved, especially since using a personal card doesn’t increase a small business owner’s personal liability.

If you would like to learn more, you can check out WalletHub’s business credit card guide.

You can apply for a business credit card online, over the phone or by mail. You’ll simply need to fill out an application, providing business and personal information, such as your legal name and Social Security number, and your company’s name and tax ID number. After submitting the application, you may be asked to provide additional verification of your business, such as bank statements, utility bills, tax returns or business licenses.

A good business credit card is one that enables a small business owner to earn as much rewards value as possible, with annual fees taken into account. That’s because most business credit cards are only good for business that you can afford to pay for in full within a single billing period. Carrying a balance on a business credit card is risky, as the issuer could increase the interest rate at any time. That is not the case with consumer cards, though, which is why we recommend using a 0% consumer credit card for company financing. You can see which specific offers WalletHub’s editors say are the best business credit cards on the market, here: https://wallethub.com/best-business-credit-card/.

OPEN American Express is a business credit card rewards program. American Express Open credit cards offer discounts and membership points for purchases made at participating retailers.