Greatest enterprise bank cards

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A business credit card is much more than just a convenient method of payment. This is how you can earn rewards and benefits for your business.

The best business credit cards offer features like purchase protection, membership rewards, travel insurance, and some even pay cash.

Your next big purchase could result in a free flight, a free night in a hotel, or even a few hundred dollars back in your pocket. You cannot receive these types of benefits when using checks or ACH transfers for business purchases. Credit cards are the only way to access these perks.

But not all business credit cards are created alike. Navigating the water and trying to find the best option for your business can be tricky, especially when there are hundreds of options to consider.

Which is the best? It's hard to name just one, but I've narrowed down the top five that I can recommend with confidence.

The top 5 options for business credit cards

American Express Blue Business Plus
Chase Ink Business preferred
Brex Mastercard Corporate
Hilton honors American Express business card
Capital One Spark Classic

How to choose the best business credit card for you

Not every company has the same purchasing needs. It's important to find a card that will reward you the most for your spending habits. When shopping for and evaluating various cards, keep the following considerations in mind:

Credit score

The best business credit cards usually require a minimum credit rating. If you're starting a new business and haven't built a long history of business loans, these cards can be difficult to obtain.

The business owner's creditworthiness is also a factor that needs to be considered here. If your personal score is high you should be able to get these cards even if your business is new.

For those of you with bad business credit and low personal credit scores, you may need to apply for a secured credit card before you can increase your score.

Never apply for cards if you do not meet the minimum qualification requirements. If the credit company does a tough credit check and rejects your application, it can lower your score even further.

Type of rewards

Almost every business credit card offers some kind of membership reward. These can take the form of cashback, points, travel benefits and much more.

What kind of rewards would you like? There really is no right or wrong answer here.

Some companies prefer cashback because it's easier to understand. Others like to accumulate points and then redeem those points for other types of benefits.

Membership fees

How much does the business credit card cost you?

In general, the higher the annual fee, the better the rewards. However, most businesses don't necessarily need rewards that justify an expensive annual fee.

There are plenty of great free business credit cards to consider. Other cards can cost up to $ 600 while the majority are somewhere in between.

My rule of thumb is: only pay an annual fee if you can justify it with the rewards you will actually use.

Expense categories

Business credit cards often offer better rewards in certain expense categories. Examples are food, gasoline or travel.

For example, let's say a card gives you 5% cashback on the travel category (flights, hotels, Uber, etc.). That's great; However, if you only travel to work once a year it may not be enough to get this card.

However, if you have a fleet of 20 vehicles on the road and all of your drivers have an employee card, it makes sense to have a card that rewards you for gasoline purchases.

Bonus offer

This shouldn't make or break your decision. Most business credit cards, however, give you a significant sign up bonus.

For example, if you spend $ 10,000 on a new credit card in the first three months, you might get 100,000 points – or something along those lines.

This can be a great opportunity to earn points, cash back, or get other benefits. I wouldn't bother buying things that I don't need. However, if you make a big purchase, be sure to put it on your new card so that you can redeem the bonus offer.

Just understand that this is a marketing strategy that card companies are using to encourage new signups. So don't let an appealing bonus offer distract you from the annual fees or other factors in your card membership agreement.

The different types of business credit cards

Before we dive into the ratings of my favorite business credit cards, let me briefly outline the different types of cards you can choose from.

Cash back reward cards

Cards that offer cashback are pretty straightforward. Depending on the card, you can have a certain percentage of your card spending credited to your account at the end of each month. This is usually applied automatically.

Some cards offer a fixed percentage of cashback on all purchases, e.g. B. 2% or 3%. Others have higher percentages for certain categories, like 3% for gasoline, 2% for travel, 1% for everything else.

You may even find cards that change the cashback percentage based on your yearly expenses, such as: B. 4% cashback on the first $ 50,000 spent in a calendar year and 2% on everything thereafter.

Points reward cards

A business credit card that rewards you with points is a little more complex. However, these can be extremely beneficial if you know how to use them properly.

Unlike cashback rewards, you have to redeem your points manually to take advantage of the benefits. You might be able to save your points for a big purchase and get something for free, or use them regularly to get discounts every month.

In some cases, you may also be able to redeem your points for cashback.

Airline partner credit cards

Certain credit cards are assigned to certain airlines. Your perks get even better when you travel with this airline.

For example, you may receive free checked baggage, lounge access, double reward points on all purchases made through that airline, and free upgrades. These cards are useful for those of you who travel frequently and are loyal to a particular airline.

Just make sure the airline has a hub in your nearest airport and flies to the places where you travel to work frequently. Otherwise, it's not worth it.

Hotel partner credit cards

Similar to airline credit cards, a hotel partner card gives you additional rewards for being loyal to a particular hotel chain. You may even be rewarded with a free night or two per year that is included in your membership fee.

These types of cards are perfect for people who travel to work frequently. It's common for hotel reward cards to offer perks like free Wi-Fi, free breakfast, and free upgrades. Depending on the card, you can automatically qualify for membership status with this hotel.

Employee credit cards

With some business credit cards, you receive additional cards for your employees. Most do this for free (because they want to encourage spending), while others may charge a small fee.

If you want to distribute cards to your employees, look for a business credit card that allows you to keep control of those expenses. I'm sure you trust your co-workers, but you don't want them to go wild and spend irregularly. So you may be able to set spending limits on these employee cards to control how those cards are used.

Secured business credit cards

If you have poor credit or no credit, you may have trouble qualifying for a traditional credit card. However, secured business credit cards are an excellent way to build up credit. This is how they work

You deposit funds into an account and that amount essentially becomes your credit limit.

If you fail to make your payments, the card company can simply withdraw the funds from this account. However, by making timely payments every month, you can build up your balance and ultimately apply for a regular credit card without having to secure it with a deposit.

# 1 – Amex Blue Business Plus Review – The best for everyday shopping

American Express's Blue Business Plus card is perfect for those of you who want a great business credit card with no annual fee.

You can apply online and make a decision in just 30 seconds.

Earn 2x points on your first $ 50,000 per year purchases. then unlimited 1x points on everything afterwards – no category restrictions.

Free employee cards and reward points based on employee spending
Statement credits up to $ 300 for Dell, DocuSign and FedEx
Expanded purchasing power for purchases above your spending limit
Vendor Pay features from Bill.com
Set up account alerts
Manage everything directly via the Amex Mobile App
Spend management tools, year-end summary, and online statements

American Express has the best customer service team in the business, which is another great benefit of this card.

For those of you who prefer cashback instead of reward points, the Amex Blue Business Cash card is essentially the same (with 2% and 1% cashback). So this is another option to consider with no annual fee.

If you travel frequently but don't want a card that is only associated with one hotel or airline, Chase Ink Business Business Preferred is the first choice to consider.

New card members receive 100,000 bonus points (valued at approximately $ 1,250 for travel) after spending $ 15,000 within the first three months of opening a new account.

Here's a rundown of why I like this card so much:

Earn 3x points every year for the first $ 150,000 on travel, shipping, internet, cable, phone, and advertising purchases
Earn 25% more when you redeem travel purchases through Chase Ultimate Rewards
Free employee cards with the option of setting individual spending limits
No foreign transaction fees
Travel protection and purchase protection
Fraud protection and personalized account alerts

For business owners and employees who travel frequently to work, the Chase Ink Business Preferred card is an excellent choice.

This card has an annual fee of $ 95. You can apply online to get started.

# 3 – Brex Mastercard Corporate Review – The Best Business Credit Card for Startups

The Brex Mastercard Corporate Card is somewhat unique when compared to other options on our list. This card is known as the "first company card for startups".

In simple terms, the card is aimed at providing smaller businesses and startups with rewards that are similar to cards designed for larger businesses.

Brex's Business Mastercard is a popular choice for tech startups. Here are some notable highlights:

No hidden fees or personal guarantees
Apply in 5 minutes and a virtual card will be activated upon approval
Credits for services like AWS
7x points for remote collaboration tools (Slack, Zoom, GoToMeeting, Gong, etc.)
3x points for the delivery of groceries (UberEats, Grubhub, DoorDash etc.)
2x points for recurring software (Salesforce, Slack, GitHub, etc.)
1x points on all other purchases

You can redeem your points for trips, miles or credits.

While the card is made for startups, you need to have a large amount of credit in order to qualify. You will need at least $ 50,000 in the bank to be considered along with other qualifications.

If you travel often and stay true to the extensive Hilton hotel portfolio, the Hilton Honors Amex Business Card is for you.

For a limited time, new card members can earn 130,000 Hilton Honors Reward Points after spending $ 3,000 on eligible purchases within the first three months of opening a new account.

Once approved, you will automatically qualify for Hilton Honors Gold status. This includes discounts like an 80% bonus on all base points, free room upgrades and much more.

Here's a quick rundown of some of the key features and benefits of this card:

Free Weekend Night Reward (After Spending $ 15,000 Per Year)
Second Free Weekend Night Reward (after spending $ 60,000 per year)
10 free visits to more than 1,200 airport lounges per year
Hilton honors Diamond status after purchases of $ 40,000
No foreign transaction fees
12x points for every dollar spent on Hilton Hotels
6x points per dollar spent on gasoline, phone services, shipping, restaurants, flights, and rental cars
3x points per dollar spent on all other purchases

This card can be yours for the low cost of just $ 95 per year. This price is easy to justify if you travel frequently.

# 5 – Capital One Spark Classic Review – The Best for Building Bad Credit

As I mentioned earlier, not everyone qualifies for business credit cards with the best rewards. If you have poor balance, you will need to build up that balance before you can apply for certain cards.

For those of you who fall into this category, I highly recommend the Capital One Spark Classic card.

Even if you've recently defaulted on a loan or have limited credit, you should be able to qualify for this card. Here is an overview of the advantages:

No annual fee
Unlimited cashback on all purchases
Free employee cards (with the ability to track employee expenses while earning rewards)
No liability for fraud
Automatic fraud notifications by text, email or phone
Ability to choose your own monthly due date
Automatic payments so you don't have to worry about forgetting
No foreign transaction fees
Roadside assistance for car emergencies (such as jumps, towing services and tire changes)
Free extended warranty and protection on eligible purchases

When it comes to no annual fee cards for businesses with bad credit, there's no better option than Capital One's Spark Classic card.

Summary

Before applying for a business credit card, you must follow the methodology and purchase guide outlined earlier.

If you want to find the best option for your business, I highly recommend the cards described in this guide. Regardless of your situation, I am confident that either of these options will suit your needs.