Compare Small Business Credit Cards

The best way to compare two business credit cards is to focus on approval requirements, annual fees and rewards rates. By calculating how much the business would earn in rewards with each card and subtracting any applicable fees, a small business owner can compare expected savings and choose the best card.

Business credit cards are better for earning rewards than saving on interest, but if you need a card for financing purposes, the comparison will be a bit different. In particular, you’ll want to focus on each card’s introductory and regular APRs, and use a credit card payoff calculator to identify the cheapest option.

How to Compare Two Business Credit Cards

1. Check your credit score. Checking your latest credit score, which you can do for free on WalletHub, will help you focus on comparing cards that you actually have a good shot at getting approved for. And in case you’re wondering, your personal credit score does matter for business credit cards.
2. Review your past business expenses. Figure out where your business spends the most money and how much you expect to charge on the card in a year. If you plan to carry or transfer a balance, estimate how long you’ll take to pay off the debt.
3. Calculate your savings. For rewards cards, apply each card’s rewards rates to your annual spending projections to see how much you’d save over a year. For 0% APR cards, calculate the amount you’d save in interest based on your anticipated payoff period. Don’t forget to subtract annual fees or any other costs the credit card may have. These calculations can reveal which card makes more financial sense.
4. Consider any unique perks of either card. Some cards may have airport lounge access, free hotel stays, or other valuable benefits. Perks like these can tip the scales if all else is equal.

Keep in mind that one business credit card may not cover all of your financial needs, so it’s okay to consider getting more than one, as long as you space out the applications. If you need help picking the best credit card for your business, try out WalletHub’s CardAdvisor or become a WalletHub member to get free personalized credit card suggestions.

The main difference between a corporate credit card and a business credit card is that the company is liable for making payments with a corporate card while the individual user is personally liable with a business card. Corporate cards are also meant for larger companies – those with over $4 million in annual revenue. In addition, there are some other important differences between business and corporate cards in regard to account opening and cost.

Corporate Cards vs. Business Cards

In general, business cards have an easier application process than corporate cards. Business cards also tend to have lower annual fees, and sometimes no fees for adding authorized users. Additionally, business owners can decide whether rewards earned on purchases go to the company, the employees, or themselves.

Corporate cards are quite the opposite, with higher annual and authorized user fees. Rewards earned on corporate cards also help the business directly, since the account is opened under the name of the business rather than any individual.

Ultimately, figuring out which card is right for your business depends mostly on the size and revenue of the business. It’s also very important to consider whether you or the company should be liable for any irresponsible credit card use. Beyond this, compare rewards, fees, and authorized user policies to choose the card that’s right for your business.

THE WINNER 

The Business Platinum Card® from American Express
This review is not provided, commissioned, or endorsed by any issuer. Opinions and ratings are our own.

EDITOR’S OVERVIEW 

The Business Platinum Card® from American Express is the winner over The Platinum Card® from American Express. The American Express Business Platinum card is the better card overall because it comes with a higher welcome offer, 120,000 points for spending $15,000 within 3 months. The American Express Business Platinum card also offers bonus rewards in select business categories.
 

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THE WINNER

American Express® Business Gold Card
This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.

EDITOR'S OVERVIEW

American Express® Business Gold Card and The Business Platinum Card® from American Express are two of the most popular business rewards cards on the market, and for good reason. Each offers lucrative bonus offers and a host of travel-friendly benefits. The difference between the two cards, however, lies in their rewards categories and access to certain high-end travel perks.

• If your spending preferences are a mix of travel and everyday business categories, then pick Amex Business Gold. You’ll earn the most rewards in the two bonus categories where you spend the most money each billing period.
• If travel is your biggest spending category and you regularly book accommodations directly with airlines, go with Amex Business Platinum. It also offers a variety of annual credits.

If you’re still undecided, you can explore each card further in our comparison chart below. The information here should help you conclude whether Amex Business Gold or Platinum is the better card for your business. Another option could be to carry both Amex Business Gold and Platinum. Be sure in advance that you’ll spend enough each year to justify the cost of having each card, though. Also, bear in mind that, except for some qualifying purchases, you’ll have to pay off each balance in full every month.

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THE WINNER

Ink Business Preferred® Credit Card
This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.

EDITOR'S OVERVIEW

The Ink Business Preferred® Credit Card is the winner over the Ink Business Cash® Credit Card. Even though both are rewards cards for small business owners with good credit, Chase Ink Preferred provides more bonus rewards and perks for frequent business travelers who spend enough each year to justify the cost.

For starters, Chase Ink Preferred gets you an initial bonus of 100,000 points for spending $15,000 in the first 3 months, along with solid bonus rewards rates on travel and business categories up to an annual spending limit. It also offers extra benefits like purchase protection and cell phone insurance.

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A business credit card is a credit card that only business owners or authorized representatives of businesses can apply for. Business credit cards are meant be used for business purposes, not personal expenses. And while it’s not illegal to put personal expenses on a business card, it does make bookkeeping and tax preparation much more complicated.

During the approval process for a business credit card, issuers will look at the credit history of the business and the money it makes. Business credit card issuers will also consider the personal credit and income of the person applying, because that person will almost always need to provide a personal guarantee. That means the applicant will need to personally commit to paying back the debt on the card if the business cannot.

There are a lot more features of business credit cards to know about before applying, too. They differ from personal cards in various ways, like lacking certain legal protections, being generally more expensive and offering higher credit limits.

What Defines a Business Credit Card:

• Only a business owner or representative of a business can apply for a business credit card.
• A business credit card should only be used for business. Putting personal expenses on the card isn’t illegal, but it is a bad idea.
• The CARD Act does not apply to business cards, so they have fewer protections than personal cards.
• People who apply for a business credit card must give a personal guarantee in most cases.
• Business credit cards offer “employee cards” to let employees share the account, often for free.
• Credit cards for business usually have higher credit limits than personal credit cards (since a business often has more money).
• Business credit cards are typically more expensive than personal credit cards.
• You may get rewards on purchases the business makes with a business credit card.
• Business cards may report to the big three consumer credit bureaus, but may also only report to business bureaus.
• It’s possible to build business credit by using a business credit card.

You can get a business credit card whether you have hundreds of employees or you’re a sole proprietor. There are tons of options, and you can see some of the best business credit card offers on WalletHub to start your search.

A business credit card with no personal credit check is hard to come by. Secured business credit cards are much easier to get than regular unsecured business credit cards, but there’s still a personal credit check involved, and you’ll have to pay a security deposit. A personal credit check allows lenders to measure a business owner’s ability to pay back any debts when there’s little or no business credit history to review.

In addition to the personal credit check, lenders require business owners to provide a personal guarantee. This states that the business owner is personally responsible for paying off any balance if the business is unable to do so. Very few business cards don’t require a personal guarantee.

If you don’t have good credit, there are personal credit cards that do not require a credit check at all. You can use them for business purposes, but they usually require a security deposit and don’t let you borrow money.

If you decide that you’re comfortable applying for a business credit card despite the personal credit check, check out our editors' top picks for the best business credit cards for each credit level. You might also be interested in WalletHub's credit building guide. This will help you on your road to excellent credit.