Small business credit cards offer attractive rewards in important spending categories like office supplies and telecommunication services as well as helpful expense tracking features. They also enable you to give your employees cards with customizable spending limits and then earn rewards on their spending. Most business credit cards are designed for purchases that will paid for in full by the end of the month. They are not great financing vehicles because the Credit CARD Act only applies to consumer credit cards, which means that most business credit cards are subject to arbitrary interest rate increases. The lack of debt stability inherent to most business credit cards is why we recommend using a 0% consumer credit card for your small business financing needs. It’s also why we have included both consumer and business credit card offers below (including offers from WalletHub sponsors).… show moreshow less
Business Credit Cards
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- Earn $300 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases and balance transfers
- Employee cards at no additional cost
- No Annual Fee
- See More Details & Reviews About TheInk Cash® Business Credit Card
- Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
- Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months of approval
- Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
- Rewards don't expire, and you can redeem your cash back for any amount, anytime
- Get employee cards at no additional cost, and earn rewards from their business spend
- Save on interest with 0% intro APR on purchases for 9 months; 13.24%-21.24% variable APR after that
- No annual fee
- See More Details & Reviews About TheCapital One® Spark® Cash Select for Business
- Earn a new cardmember bonus of $150 after you spend $500 in net purchases on your card within the first 90 days of account opening.
- 3% cash back on all cellular, gas and office supply store net purchases
- 1% cash back on all other net purchases
- No cap on total rewards and they never expire!
- Plus, a 25% Annual Cash Rewards bonus, up to $250
- Net purchases are purchases minus credits and returns
- Earn 1.5 miles per $1 on every purchase, every day
- Plus, a one-time bonus of 20,000 miles once you spend $3,000 on purchases within 3 months of approval
- Miles don't expire, and there are no categories to limit where or what you buy
- There's no limit to the amount of miles you can earn and miles don't expire
- Fly on any airline, anytime, with no blackout dates or seat restrictions
- Save on interest with 0% intro APR on purchases for 9 months; 13.24%-21.24% variable APR after that
- Pay no annual fee or foreign transaction fees
- Get online Quarterly and Year-End Summaries
- See More Details & Reviews About TheCapital One® Spark® Miles Select for Business
- Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
- Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months of approval
- Rewards don't expire, and you can redeem your cash back for any amount, anytime
- Get employee cards at no additional cost, and earn rewards from their business spend
- Use Spark Cash across all your business spend, with no categories to limit your purchasing
- $0 intro annual fee for the first year; $59 after that
- See More Details & Reviews About TheCapital One® Spark® Cash for Business
- Earn 1% cash back on every purchase, every day
- Enjoy no annual fee
- Build business credit with responsible use
- Fraud coverage if your card is ever lost or stolen
- No foreign transaction fees
- Enjoy business benefits including Year-End Summaries, employee cards at no extra cost, and experienced small business customer service
- See More Details & Reviews About TheCapital One® Spark® Classic for Business
- Earn a 30% Membership Rewards points bonus each year— all with no annual Membership fee
- Earn 10,000 Membership Rewards® points after making your first purchase on the Card within your first 3 months of Card Membership
- Points you can reinvest in your business: choose rewards from over 500 leading brands in travel, gift cards, merchandise or entertainment
- Terms & Conditions Apply
- No annual fee for each additional Employee Blue for Business® Credit Card
- Get a low introductory APR on purchases for 9 months
- See More Details & Reviews About The Blue for Business® Credit Card from American Express
- Special Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership
- Get 3x points - Choose 1 out of 5 categories
- Plus, 2X points on the 4 remaining categories and 1X points on other purchases
- 3X and 2X apply to the first $100,000 in purchases in each of the 5 categories per year, 1X point per dollar thereafter
- Track, organize, and stay on top of your business expenses with powerful expense-tracking tools
- Terms and limitations apply
- No foreign transaction fees
- $0 introductory annual fee for the first year, then $175
- See More Details & Reviews About The Business Gold Rewards Card from American Express OPEN
- Welcome Offer: Earn a one-time $250 statement credit after you spend $5,000 or more in qualifying purchases on your Card within the first 6 months of Card Membership
- No Annual Fee. Plus, more buying power and more cash back
- 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores
- 3% on the category of your choice from a list of eight and 1% cash back on other purchases
- 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% thereafter. Cash back received is automatically credited to your statement
- Terms and limitations apply
- Earn 2 miles per $1 on every purchase, every day
- Plus, a one-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months of approval
- Miles don't expire, and there are no categories to limit where or what you buy
- There's no limit to the amount of miles you can earn and miles don't expire
- Redeem miles for travel, cash back, gift cards and more
- $0 intro annual fee for the first year; $59 after that
- No foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions
- See More Details & Reviews About TheCapital One® Spark® Miles for Business
Expert’s Answers
Ask Our Experts- Why apply for a business credit card?
- Why not apply for a business credit card?
- What credit standing is needed to get a business credit card?
- Are there any business credit cards with no personal guarantee?
- Can I use a business credit card for personal spending and vice versa?
Why apply for a business credit card?
Why not apply for a business credit card?
The biggest downside of this exclusion is the fact that the CARD Act provision prohibiting issuers from increasing interest rates on existing debt without cause does not apply to most business credit cards. It’s dangerous to revolve a balance on a small business credit card since your interest rates can therefore change at any time and for whatever reason. If your intent is to fund your company’s operations, do not apply for a business credit card, apply instead for a general-consumer credit card.
What credit standing is needed to get a business credit card?
Interestingly and contrary to many people’s beliefs, while a company’s credit standing is taken into account for business credit card approval, the small business owner’s personal credit score is actually the key deciding factor. Therefore, when starting a small business, for example, you should apply for a business credit card that is marketed for someone of your credit stature and avoid falling into the trap of looking for business credit cards for new businesses. If you are unsure of your credit standing, try our free credit estimator.
Are there any business credit cards with no personal guarantee?
Unfortunately, WalletHub research has shown that all major business credit card issuers require personal liability for business card use and relay monthly usage information to the owners’ personal credit reports. In fact, we are only aware of one business credit card with no personal guarantee: U.S. Bank’s Visa Signature Company Credit Card, which is targeted to companies with $1 million to 10 million in annual revenue.
The long-held notion that business credit cards provide personal liability protection by limiting responsibility for debt and default to one’s business is therefore little more than a common myth. The falsity of such a belief is further evidenced by the fact that business credit card applications require you to provide your Social Security Number (SSN) in addition to your company’s Federal Tax Identification Number, or Employment Identification Number (EIN). Additionally, most business credit card applications clearly disclose liability policies.
Small businesses simply aren’t large enough entities to warrant limited liability. They are generally funded by one person or a few individuals, whose personal finances are directly connected to the company’s. “Small business credit cards that are issued to owners of pass-through businesses are equivalent of individual ownership and likely treated as such,” says Dr. William Dunkelberg, Emeritus Professor of Economics at Temple University. Banks therefore view joint liability between a company and its owner(s) as more than justified.
With a larger company, on the other hand, ownership as well as responsibility for the misuse of credit are likely to be far more segmented and the business’ financial assets far more substantial. This dynamic makes limited liability, in turn, far more appropriate for a larger company than for a small business.
While you cannot mitigate your personal liability as a small business credit card user, you can decrease the chances that it will come into play by approaching business spending strategically and opening credit cards with the best rates and lowest fees. After all, the best defense against liability problems is intelligent business decision making.
Can I use a business credit card for personal spending and vice versa?
Community Discussion
American Express business card is sent to the personal address or business address?
I’d say your typical business card carries a lot of advantage over your usual card. For one, I think the process to get these cards is more forgiving. They know these are going to be used with much more purchasing power than your typical credit card. Because of this I find the rates of interest, fees and little conveniences make these cards very attractive; very much so to a smaller (like myself) business owner who can have difficulty. These can go a long way to improving your credit and redeeming a lot of rewards can be fun.… read more
I use Capital One Spark Cash for Business. It is a great card. The application process was easy enough. I had good credit and all the documentation needed, however it took a while before I was approved. The interest rate is manageable, I never have problems with customer service, the fees are fine, and the cashback rewards are great and easy to redeem. Using the card in a store or online is a breeze. Since using this card, my credit score has not changed much. overall, i have no complaints about this card.… read more
My cards helped me my improve credit. Credit cards can make good credit better. Customer service is not always as helpful as they could be. Customer service is often from overseas and hard to understand.
This is convenience for a price. There are too many extra fees such as interest fees with credit. Purchases are simpler with business card online and off. Business cards are not easy to obtain. I hate waiting for approval.
You must spend a lot to earn rewards. Than you have to wait more. Waiting periods for acceptance and rewards, and interest fees should be eliminated.… read more
I love to use my business card when I purchase online. They become pretty handy. I get a cash back offer and can save some money. Redeeming rewards is just a few clicks away. My credit score has been improving ever since I started using these businesses cards. Purchasing with the businesses card has only minor problems. The interest rates are very competent and the annual fee is less for the first year.
Business cards are pretty comparable to consumer credit cards. They usually requrie a certain level of transactions to waive fees. The application process is straightforward especially when you already have an existing business bank account with the bank. Purchasing with the business card is very similar to consumer credit cards and most processes, including redeeming rewards, are very simple. It has no effect on my credit score as it is opened under the name of my business, which is an S corp. They could improve it by having rewards that are more related to my business operations.… read more
My business card is alright in terms of having a low interest rate and a pretty decent rewards system. I really love to use it when purchasing products online .Purchasing products at the store is also very simple and quick and I usually do not have any problems when depositing money. I am overall happy with the card, I do wish that there was no interest rate though, that would help me save much more .… read more
This card is a pretty good card. It was very easy to apply for it and get it. The interest is fair and it remains steady. It is real easy to order products online and in store which is great. Managing your accounts are fair and easy and it also improves your credit score if you pay on time. Honesty I have no issues with the card and it is a good credit card to have.… read more
Even when travelling for business I don't see much benefit from collecting 'points' with my card. Honestly, it seems like the ones that offer the rewards have a higher interest rate and you can easily save money by just shopping around and finding a card that simply has a lower interest rate. It also made me feel restricted when certain hotels wouldn't qualify for earning points. Basically it just felt like a bigger pain in the rear than what it should have been.… read more
I think student credit cards can be useful to young adults because most young adults haven’t established any credit yet. This will enable them to get a card, use it, pay it off in full every month and show creditors they know how to manage their finances. It’s a great way to establish credit when you are just starting out.
Over the years I've realized that cards with miles are way better than cards that give you "points." With miles, you can actually afford that vacation that you've been needing and can spend the money you would have spent on airline tickets on the destination instead. It seems that the cards that give you "points" want you to rack up some absurd number of their virtual points, which you can then exchange some cheap merchandise that looks good in the catalog but will break in a couple months. Definitely not worth it -- miles all the way!… read more
I have used the U.S. Bank Business Edge Platinum Card before. One of my favorite features of this card is the fact that is has no annual fee. There are several cards out there that do not charge an annual fee so I would never sign up for a card with an annual fee. Another perk I like is that it has a 0% APR for the first 12 months. The only thing I wish this card had was some sort of rewards program. Most of my cards have one so it’s a bit disappointing this one doesn’t.… read more
I like my GOLD DELTA SKY MILES business card. First important thing, it gives me 30000 miles bonus when I spend $1000 in the first 3 months. No annual fee. I do not travel a lot, but still, I need to travel by air, and using this card will add up miles and will benefit me eventually to purchase air tickets. As I usually fly Delta Airlines, that is important to me.
Now, next, 2 miles per every dollar I spend, 20% savings on airline purchase. Thai is also another plus. It gives $50 credit on your first statement. I know it has fee of $95, but compared to its benefits, I will still recommend this card to people who travel by air.… read more
I love to use credit cards no matter what, and my personal favorite are the consumer credit cards. I like to be able to get discounts on trips when it comes from my job. I get rewards and it is so fast and simple. I feel like they are more personal and like I am able to use and access them more easily. I enjoy the short processes that I have to go through, and the fact that I am never over drawn on them. I do not have to worry about using too much of the money on a card from my business, and then the card is not tied to the company itself. My Chase card is the best card I have ever had. I also think that points are better than miles because it seems like I am more likely to get better rewards with the points.… read more
Consumer credit cards offer a big benefit to small businesses, in my opinion. They are easy to get because the process is almost no different from applying for a regular credit card, and they let you keep your business debt separate from your personal debt, which makes filing taxes and keeping records much easier and more efficient. However, they are also still your own card, so nothing is preventing you from using them for personal credit in relation to the business if you need to.
For small businesses, the benefits, bonuses, and rewards that are offered on some cards are also a huge plus. They are usually easy to earn with business expenditures and you can typically find ones that work specifically for you and your business's needs and activity.… read more
I am a big fan of using credit cards for my small business. The trick is to only sign up for credit cards that give a bonus. Also, it is important to choose a card which has a zero annual fee.
Credit card companies are always offering super bonuses. I recently acquired the Amex Gold rewards card and at the time a wonderful bonus was offered. I only had to spend $5,000 within the first three months, and then I earned a 500 dollar gift card! There were many stores to choose from for the 500 dollar gift card. I was able to use the $500 dollar gift card towards buying items I needed for my small business.
After I paid off the balance on my credit card and got the gift card, I cancelled the Amex card and applied for another credit card. This way, I can get another bonus! I love credit card bonuses! They make life even more exciting and it's nice to get a perk !… read more
The biggest advantage to me of using a separate small business credit card account separate from my personal account is in tracking deductions at the end of the year for tax reporting. I only use it for business purchases from office supplies to taking clients out to lunch, all of which are deductible and, at least all the cards I have, they have the ability to print reports at the end of the year with expenses already broken into categories which makes entering deductions on the tax forms a breeze.
Sometimes I'm NOT able to always pay the balance off each month because a client who owes me a large lump-sum of money is behind on his accounting or paying my invoices, so carrying the balance can be a godsend. You don't usually need to wait until the next monthly billing to send in payments or pay off the balance, so as soon as I get the check from a client deposited, I can turn around and pay off the balance with minimal costs. It makes you look far more professional to clients, by not looking desperate for their payment which to them may seem relatively meager. It also allows you to order parts and/or equipment which you will be billing to clients at the end of project without having to wait for the client to cut a check, and if there is a problem with the company you order the equipment from, the credit card company will help by acting on your behalf and settling complaints with an unscrupulous supplier.… read more
I have used a small business card , the Ink Plus® Business Credit Card, and I absolutely loved it. The card had many benefits and rewards to help me run my business. It helped me manage all of my payments and keep everyone on track. Also since I could make employee cards it was easy for me to manage all expenses.
There are many benefits in a dedicated business credit card aside from the availability of funds. Such as:
1) Using a credit card for all business related purchases and paying off balance monthly will build a solid credit reputation. This is an important aspect to develop especially if planning future expansion and seeking investors to do so. The first thing an investor is going to do is run your credit report. A dedicated credit card kept in good standing will assure potential investors that you are consistent and responsible.
2) Tracking business expenditures is improved substantially when consistently utilizing a credit card. Not only will it provide solid data for personal analysis of your business, but will also be appreciated by your bookkeeper or accountant. Also, something to remember is the IRS's generally standard audit of any business in the fourth year. Having a credit card statement will guarantee you have the receipts for your activity (shoeboxes full of receipts cause awkward silences when presented to an IRS auditor).
3) In the unfortunate event you lose your wallet, a credit card can be cancelled, unlike cash. Credit cards are also insured against fraudulent activity which will allow you to recoup any funds lost, again unlike cash.
These are just a few examples of how a dedicated business credit card can benefit a small business venture. I, personally, feel a business credit card is not only desirable but a necessity for all businesses.… read more
I absolutely think that consumer credit cards are beneficial to small businesses. I operate an online business and make all my purchases on my chase business card. The rewards that they offer are an added plus. They usually offer a reasonable line of credit that can help when you need to make an unexpected big purchase.
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Before you apply for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences.
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