Best credit cards of current year

Best small business credit cards of October 2024

Among CardRatings’ picks for best business credit cards are those that offer sky-high welcome bonuses, excellent ongoing rewards, 0% APR periods, money-saving perks for your business, employee cards at no cost and, importantly, the opportunity to separate your personal from your business expenses. View More

If you’re not already using a small business credit card to get bonus rewards for your company’s routine purchases or save you money on things like rental car insurance or warranty protection, you’re leaving money on the table. With the right credit card as your partner, you can enjoy travel perks, smoother cash flow, and access to specialized service professionals.

Whether you’re just getting started or you’re looking for new ways to boost your spending power, there are an abundance of small business cards to compare. Below are a few business credit cards we think entrepreneurs, freelancers and CEOs alike should consider. View Less

author Brooklyn Lowery
Terms apply; see the online credit card application for full terms and conditions of offers and rewards.

List of Winners

  • CardName – Best for Tiered Cash Back
  • CardName – Best for Flat-Rate Cash Back
  • CardName – Best for Tiered Travel Rewards
  • CardName – Best for Flat-Rate Travel Rewards
  • CardName – Best for Airport Lounge Access and Premium Travel Benefits
  • CardName – Best for No Annual Fee and Simplicity
  • CardName – Best for Intro 0% APR
  • CardName – Best for Airline Rewards
  • CardName – Best for Hotel Rewards

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editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: If your business tends to concentrate its biggest purchases in just one or two areas, you can likely get the most bang for your credit card reward buck with a tiered rewards card. In this case, the no-annual-fee CardName fits the bill with a stellar signup bonus as well as excellent ongoing rewards.

Read our full CardName review.

Welcome Bonus
$350, then an additional $400 Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Annual Fee
AnnualFees
Intro 0% APR
12 months on purchases (then, RegAPR)
Credit Score
CreditScoreNeeded

Welcome Bonus: Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.

The Annual Fee: AnnualFees; add employee cards at no additional cost

The Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases each account year at office supply stores (including big ticket items such as computers or hardware) and on internet, cable and phone services. Earn 2% cash back on the first $25,000 spent in combined purchases each year at gas stations and restaurants; and earn 1% cash back on all other purchases with no limits on the amount of cash back you can earn.

More Details: With the CardName, users will also enjoy fraud protection, travel and emergency assistance services, zero liability protection, purchase protection, extended warranty protection and auto rental collision damage insurance.

PROS:

  • This card awards $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
  • You can also earn 5% cash back on your first $25,000 in combined purchases at office supply stores and on internet, cable and phone service purchases each account anniversary year and 2% cash back on your first $25,000 combined purchases at gas stations and restaurants. All other purchases earn 1%.
  • If you need to make a large purchase for your business, you can get an intro 0% APR for the first 12 months on purchases (then, RegAPR).

CONS:

  • There is a foreign transaction fee, which will cost you if you need to use the card for business outside of the U.S.
  • There is a fairly low cap on the highest earning categories (5% and 2%) of $25,000. If your business spends more in any of those categories each year, those purchases will only earn 1% cash back.
  • There is no annual fee, but if your rewards earning is limited by either the categories or the cap on the categories, you might earn more with a card that charges an annual fee.
Current Scores Past Scores
Overall Score 78.0 78.7
Rewards Program Satisfaction 7.7 7.7
Customer Service 7.8 8.0
Website/App Usability 7.9 8.2
Likelihood of Continuing to Use 8.1 7.6
Recommend to a Friend/Colleague 7.7 8.0

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: All around, the CardName is just a solid business credit card to have on hand. The annual fee is reasonable given the benefits and rewards, employee cards are free, and the welcome offer is solid. While no one of its features truly stands out, taken together the perks and features make for one really decent small business cash back credit card.

Read our full CardName review.

Welcome Offer
$2,000 Earn a one-time cash bonus of $2,000 once you spend $30,000 in the first three months, plus earn an additional $2,000 cash bonus for every $500,000 spent during the first year.
Annual Fee
AnnualFees
Rewards
2% cash back Unlimited 2% cash back on all eligible purchases
Credit Score
CreditScoreNeeded

Welcome Offer: Earn a one-time cash bonus of $2,000 once you spend $30,000 in the first three months, plus earn an additional $2,000 cash bonus for every $500,000 spent during the first year.

The Annual Fee: AnnualFees; add employee cards at no additional cost. Plus, you can get your annual fee refunded every year you spend at least $150,000 with the card.

The Rewards: Earn an unlimited 2% cash back on every eligible purchase made with the card, and an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.

More Details: CardName cardholders will also enjoy extended warranty protection, travel and emergency assistance services, MasterRental Insurance, no foreign transaction fees, and more.

PROS:

  • You can get your annual fee refunded every year you spend at least $150,000 with the card.
  • Earn unlimited 2% cash back on every purchase you make with the card, which means you don't have to keep up with categories or caps in order to earn maximum rewards for your business.
  • There are no foreign transaction fees, so this is a good card should your business take you overseas or require purchases in foreign currency.

CONS:

  • Although you get 2% cash back on all of your purchases, you might earn more with another card if your purchases fall primarily in a few particular categories such as travel or office supply store purchases.
  • This is a charge card, so you'll need to pay your balance in full every billing cycle. That's not a bad thing but could be inconvenient should you be in a situation where you need to carry a balance for a time.
Current Scores Past Scores
Overall Score 81.5 79.3
Rewards Program Satisfaction 8.1 8.0
Customer Service 7.8 8.1
Website/App Usability 8.5 8.0
Likelihood of Continuing to Use 8.6 7.8
Recommend to a Friend/Colleague 8.2 7.8

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

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editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: One of the very best features of this card is its welcome bonus, which is worth as much as $1,125 when redeemed through Chase Travel℠! When it comes to value for the annual fee, the CardName from Chase rises to the top of our list.

Read our full CardName review.

Welcome Offer
90,000 points Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠.
Annual Fee
AnnualFees
APR
RegAPR
Credit Score
CreditScoreNeeded

The Bonus: Earn 90,000 bonus points after you spend $8,000 on purchases in the first three months from account opening.

Annual Fee: AnnualFees; add employee cards at no additional cost.

The Rewards: Earn three points per $1 on the first $150,000 spent in combined purchases each account anniversary year in the following categories: travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines. Earn one point per $1 on all other purchases (and once you reach the cap in the bonus categories) with no limits to the amount you can earn. Points are worth 25% more when you redeem for travel through Chase Travel℠. For example, 90,000 points are worth $1,125 towards travel.

More Details: With the CardName, users will also enjoy fraud protection; trip cancellation/trip interruption insurance; zero liability protection; purchase protection; extended warranty protection; auto rental collision damage insurance; no foreign transaction fees; and cell phone protection, which includes coverage of up to $600 per claim for the primary user and all the employees listed on the monthly cell phone bill when you pay your cellular bill with your card.

PROS:

  • This card offers a hefty signup bonus worth as much as $1,125 when redeemed through Chase Travel. Earn 90,000 bonus points after spending $8,000 on purchases in the first three months of opening the account.
  • You can also earn three points per $1 on the first $150,000 you spend on combined purchases each anniversary year in travel, shipping, internet, cable and phone services, and advertising with social media sites and search engines. You earn one point per $1 on all other purchases and once you reach the cap in the bonus categories.
  • Points are worth 25% more when you redeem them for travel through Chase Travel.

CONS:

  • The bonus categories are capped at a combined $150,000 each anniversary year. If you spend more in these categories, you need to use a card that awards more than one point per dollar after $150,000.
  • The bonus categories are somewhat limited. If your business spending is in other categories, you would likely earn more with a card that awards those categories.
  • Although the annual fee of AnnualFees is reasonable and in line with other business rewards cards, you still need to be sure you use and earn enough with the card to more than offset it.
Current Scores Past Scores
Overall Score 80.0 74.3
Rewards Program Satisfaction 7.8 7.4
Customer Service 8.0 7.6
Website/App Usability 8.3 7.3
Likelihood of Continuing to Use 7.9 7.6
Recommend to a Friend/Colleague 8.3 7.3

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: The CardName credit card is kind of the travel version of the Spark Cash Plus card mentioned earlier. Plus, it maximizes rewards for cardholders by offering two miles for every $1 spent on everyday purchases and five miles per $1 on certain travel purchases (details below).

Read our full CardName review.

Welcome Offer
50,000 miles Earn a one-time 50,000 mile bonus after you spend $4,500 on purchases within three months account opening
Annual Fee
AnnualFees
APR
RegAPR
Credit Needed
CreditScoreNeeded

The Bonus: Earn a one-time bonus of 50,000 miles after you spend $4,500 in the first three months.

The Annual Fee: AnnualFees; add employee cards at no additional cost.

The Rewards: Earn an unlimited two miles per $1 on every purchase, plus earn five miles per $1 on hotels, vacation rentals, and rental cars booked through Capital One Travel.

More Details: CardName cardholders also enjoy purchase security and extended warranty protection, travel and emergency assistance services, MasterRental Insurance, no foreign transaction fees, quarterly and year-end summaries and more. Receive up to a $120 credit for your Global Entry or TSA PreCheck application fee.

PROS:

  • You can earn 50,000 bonus miles after spending $4,500 within the first three months.
  • This card awards unlimited two miles per $1 on every purchase and five miles per $1 on hotels, vacation rentals, and rental cars booked through Capital One Travel. You can also receive up to a $120 credit for your Global Entry or TSA PreCheck application fee.
  • There is an intro annual fee of $0 for the first year and no foreign transaction fees.

CONS:

  • The annual fee is AnnualFees, so you need to be sure to earn enough rewards to make the annual fee worthwhile.
  • You can earn two miles for each $1 spent and five if you book car rentals, vacation rentals and hotels through Capital One Travel. However, if your spending is primarily in a category such as office supplies or advertising, you could earn more with a different card and rewards program.
  • This card is primarily for travelers and not for those who prefer to earn cash back or rewards that aren't travel-focused.
Current Scores Past Scores
Overall Score 81.8 77.7
Rewards Program Satisfaction 7.9 7.7
Customer Service 8.2 7.8
Website/App Usability 8.2 7.8
Likelihood of Continuing to Use 8.8 7.9
Recommend to a Friend/Colleague 8.4 7.8

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This card offers business owners and entrepreneurs a comprehensive suite of benefits that far outweighs its higher-than-typical annual fee. To start, new cardholders can earn a bunch of bonus Membership Rewards points (details below). Those points are sure to get you started on the right foot, but if that's not enough, you quickly have the opportunity to earn even more points. (American Express is a CardRatings advertiser)

Read our full CardName review.

Welcome Bonus
150,000 points Earn 150,000 bonus points after you spend $20,000 on eligible purchases within your first three months of account opening
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

The Welcome Offer: Earn 150,000 Membership Rewards points after you spend $20,000 on eligible purchases within your first three months of card membership.

The Annual Fee: AnnualFees; add employee cards at no additional cost.

The Rewards: Earn five points per $1 spent on flights and prepaid hotels on amextravel.com; an extra half-point (or 1.5 points total) per $1 on eligible purchases of $5,000 or more (up to a cap) and 1.5 points on eligible purchases in select business categories, including those with U.S. construction material and hardware suppliers, with U.S. electronic goods retailers and software and cloud system providers, and with U.S. shipping providers; and one point for each $1 you spend on other eligible purchases. Plus, use your Membership Rewards to Pay with Points for a first class or business class flight with any airline available through American Express Travel and you receive 35% of the points back. Or get 35% of the points back when you book a flight in any class with your pre-selected qualifying airline. With the 35% Airline Bonus benefit, you can get up to 1 million points back per calendar year.

More Details: Cardholders of CardName receive access to more than 1,400 airport lounges across 140 countries and counting; a $200 airline fee credit with a pre-selected airline to use for things like checked bag fees and in-flight refreshments; a fee credit every four years to cover your Global Entry or every 4.5 years for your TSA PreCheck application fees; complimentary travel benefits like room upgrades, daily breakfast for two people, late check-out, complimentary WiFi, and a unique amenity such as a food and beverage credit or a one-way private sedan transfer when you book your travel through Fine Hotels & Resorts as well as a number of other elite shopping and travel benefits. Enrollment required for select benefits

PROS:

  • Right now, new cardholders can earn a bonus of 150,000 Membership Rewards points after spending $20,000 on eligible purchases within the first three months of card membership, which is a higher-than-typical bonus on this card.
  • You can earn five points per $1 spent on flights and prepaid hotels on amextravel.com.
  • This card includes tons of valuable benefits such as access to airport lounges, a $200 airline fee credit, and a credit for Global Entry or TSA PreCheck application fees. Enrollment required for select benefits

CONS:

  • The annual fee is AnnualFees, which is among the highest you find with any business card. This can be expensive if you aren’t able to use the extra benefits that come with the card.
  • The best earning is only on flights and prepaid hotels on amextravel.com. If your business purchases are regularly outside these categories, you likely aren't maximizing your rewards and could do better with a different card.
Current Scores Past Scores
Overall Score 75.1 80.3
Rewards Program Satisfaction 7.5 8.1
Customer Service 7.4 8.0
Website/App Usability 7.9 7.8
Likelihood of Continuing to Use 7.3 8.1
Recommend to a Friend/Colleague 7.6 8.1

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This no-annual-fee card is best viewed as a complement to other cards in the Chase Ink family, the CardName or the CardName. That's because it offers a flat 1.5% cash back on all your purchases, which means you can rake in a half-percent (or half-point if you prefer to think in those terms) more per $1 spent on all the purchases that don't fall under a points bonus category with the other Ink cards.

Read our full CardName review.

Welcome Bonus
$900 Earn $900 bonus cash back after you spend $6,000 on purchases in the first three months from account opening
Annual Fee
AnnualFees
Intro 0% APR
12 months on purchases (then, RegAPR)
Credit Score
CreditScoreNeeded

Welcome Bonus: Earn $900 in bonus cash back after you spend $6,000 in the first three months from account opening. Plus, take advantage of an introductory 12 months no interest on purchases (then, RegAPR).

The Annual Fee: AnnualFees

The Rewards: Earn a flat and unlimited 1.5% cash back on every purchase. Those rewards accumulate as Chase Ultimate Rewards points, a common currency among numerous Chase rewards cards. If you have other Chase rewards cards in your wallet, you can combine Chase Ultimate Rewards points earned on those other cards into a single bucket as needed in order to redeem your points more quickly or, in some cases, for more value.

More Details: Cardholders are also covered with fraud protection, travel and emergency assistance services, zero liability protection, purchase protection, extended warranty protection and auto rental collision damage insurance.

PROS:

  • There is no annual fee for this card so you won’t have to worry about earning enough rewards with the card to offset the fee.
  • This card offers a 0% introductory APR on purchases for 12 months (then, RegAPR) which can help you save money on interest if you need to make a large purchase.
  • You can earn a flat rate of 1.5% cash back on all your purchases. New cardholders can earn a $900 cash back bonus after you spend $6,000 in the first three months of opening the account.

CONS:

  • Although there is no annual fee, there is a foreign transaction fee, which is not ideal if you need to use the card for purchases outside the U.S.
  • Although it’s convenient to not have to worry about purchase categories for rewards, you might earn more with a card that awards specific purchases.
  • There is a 0% introductory APR on purchases but not on balance transfers. If you need to transfer a balance to save money on interest, you need a card that offers the 0% intro APR on balance transfers.
Current Scores Past Scores
Overall Score 80.0 79.0
Rewards Program Satisfaction 8.1 7.8
Customer Service 7.8 8.0
Website/App Usability 8.1 8.5
Likelihood of Continuing to Use 8.2 7.9
Recommend to a Friend/Colleague 7.9 7.8

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This card offers a strong 2% cash back on your eligible purchases up to $50,000 spent each calendar year (then, 1%). Add in that there's no annual fee to worry about plus a nice introductory 0% APR on purchases for 12 months (then RegAPR) and you have a solid cash-back rewards small business card.

Read our full CardName review.

Welcome Offer
$250 Earn a $250 statement credit after you make $3,000 in purchases on your card in your first three months.
Annual Fee
AnnualFees
Intro 0% APR
12 months on purchases (then, RegAPR)
Credit Score
CreditScoreNeeded

The Welcome Offer: Earn a $250 statement credit after you make $3,000 in purchases on your card in your first three months. Plus, you can take advantage of an introductory 0% interest on purchases for 12 months (then RegAPR), which could save you a ton of money if you have some big expenses coming up.

The Annual Fee: AnnualFees

The Rewards: Rake in 2% cash back on the first $50,000 spent each calendar year on eligible purchases, then 1%. Your cash-back rewards are automatically credited to your statement.

More Details: Earn rewards on spending above your credit limit (amount over limit is due in full each billing cycle in addition to your minimum amount due and in not unlimited – it adjusts based on your card use, payment history and more).

PROS:

  • This card offers 0% intro APR on purchases for 12 months (then RegAPR).
  • This is one of only a handful of business credit cards that do not charge an annual fee and offer a rewards program.
  • You can earn 2% cash back on the first $50,000 spent each calendar year on eligible purchases, then 1%. There are no categories to keep up with, so you can just do your regular business spending and know you're earning solid rewards.

CONS:

  • There is no annual fee but there is a foreign transaction fee, which will cost you more if you have to use your card for purchases outside of the U.S.
  • There is a cap of $50,000 in eligible purchases on which you earn 2% cash back. If your business spends more annually on any category, you can earn more rewards from those purchases with other cards.
Current Scores Past Scores
Overall Score 79.1 n/a
Rewards Program Satisfaction 7.6 n/a
Customer Service 8.2 n/a
Website/App Usability 8.4 n/a
Likelihood of Continuing to Use 8.2 n/a
Recommend to a Friend/Colleague 7.8 n/a

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: If you're looking for an airline rewards card for your small business, you obviously have airline travel expenses; however, those likely aren't the only expenses your business has. That's why we like a card that offers solid rewards on purchases outside of those directly with the airline, but is certainly rewarding when you do need to cover some air travel expenses.

Read our full CardName review.

Welcome Offer:
100,000 points Earn 100,000 Membership Rewards points when you spend $15,000 on eligible purchases in the first three months
APR
RegAPR
Annual Fee
AnnualFees
Credit Score
CreditScoreNeeded

The Welcome Offer: Spend $15,000 on eligible purchases in the first three months of opening the account to earn 100,000 Membership Rewards points.

The Annual Fee: AnnualFees

The Rewards: Earn 4x Membership Rewards points on the two eligible categories where your business spends the most (each billing cycle) from six eligible categories. While your top two categories may change, you will earn 4x points on the first $150,000 in combined purchases from these categories each calendar year (then 1x thereafter). Only the top two categories each billing cycle will count towards the $150,000 cap. Additionally, earn 3x Membership Rewards points on flights and prepaid hotels booked on amextravel.com using your Business Gold card.

Additional Airline Perks: This card isn't specifically an airline rewards card, but the benefits related to flights are hard to overlook. In particular, receive 25% of your points back (up to 250,000 points per calendar year) when you pay with points for all or part of your eligible flight booked through the Amex travel portal.

PROS:

  • If your business travel takes you overseas, rest easy knowing you won't be charged foreign transaction fees when you use your card while abroad or if your business requires you to make purchases from foreign merchants.
  • Membership Rewards points are highly valued in the travel rewards world; combine the points earned with this small business card with the points you earn on your personal cards to rack up rewards more quickly.
  • This card isn't specifically an airline rewards card, but the benefits related to flights are hard to overlook. In particular, receive 25% of your points back (up to 250,000 points per calendar year) when you pay with points for all or part of your eligible flight booked through the Amex travel portal.

CONS:

  • This card is most rewarding if your spending generally occurs in predictable categories. If you tend to spend a little bit in many different categories, you may not max out the 4x points earning each year and that would be leaving rewards on the table.
  • Annual fees aren't fun. This card comes with one, so you'll want to ensure your business needs and expenses will more than offset that fee each year.
Current Scores Past Scores
Overall Score 79.9 80.7
Rewards Program Satisfaction 7.9 8.0
Customer Service 7.9 8.2
Website/App Usability 8.3 8.0
Likelihood of Continuing to Use 8.1 8.2
Recommend to a Friend/Colleague 8.1 8.0

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: If you travel often, the only disadvantage that stands out with CardName is the AnnualFees annual fee, but considering the perks that are offered with the card, a healthy welcome offer and extreme point-earning ease, that annual fee doesn't seem too bad. Truly the most striking thing about this card is the huge number of points that can be earned on purchases. With that kind of point-earning potential, traveling for work might suddenly feel kind of fun. Furthermore, Hilton is an extensive hotel brand, meaning there's likely a Hilton property nearby no matter where your travels take you.

Read our full CardName review.

Welcome Offer
175,000 points Limited Time Offer: Earn 175,000 Hilton Honors Bonus Points after you spend $8,000 in purchases within the first six months of card membership. Offer ends 1/8/2025.
Annual Fee
AnnualFees
APR
RegAPR
Credit Score
CreditScoreNeeded

Limited Time Offer: Earn 175,000 Hilton Honors Bonus Points after you spend $8,000 in purchases on the card within the first six months of card membership. Offer ends 1/8/2025.

The Annual Fee: AnnualFees; add employee cards at no additional cost.

The Rewards: Earn 12X Hilton Honors Bonus Points on eligible Hilton purchases; 5X Hilton Honors Bonus Points on other purchases made using the card on the first $100,000 in purchases each calendar year; and 3X points thereafter.

More Details: Cardholders of CardName also receive complimentary room upgrades; the chance to earn free reward nights; no foreign transaction fees; year-end summaries; the American Express Business App, a feature which helps you to manage your card expenses by allowing you to add receipts and notes to your transactions; extended warranty coverage; purchase protection; and a number of other travel and shopping perks and business management tools. Enrollment required for select benefits

PROS:

  • There are no foreign transaction fees, which can save your business money if you need to travel abroad or make foreign purchases.
  • Enjoy complimentary Hilton HonorsTM Gold Status with your card, that gives you benefits at hotels and resorts within the Hilton Portfolio and allows you to earn an 80% bonus on all base points you earn on every stay getting you to free nights faster.
  • Get up to $60 in statement credits each quarter for purchases made directly with a property in the Hilton portfolio on your Hilton Honors American Express Business Card.

CONS:

  • The annual fee for this card is AnnualFees. If you won’t earn enough points or use the benefits offered with the card, you should instead use a card with no annual fee.
  • This card covers a lot of different purchase categories, but the best redemption will be for Hilton hotel stays. If you prefer other hotel brands or earning cash back, this card is not your best option.
  • This card is primarily for travel. If this is not for your business, there are other cards that offer rewards in the non-hotel categories offered by this card but aren't specifically travel-related.

We have not polled this card yet, but would love to hear your thoughts on it if you are a cardholder. Comment below or email us at editor@cardratings.com to share more about your experience.

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Why do you need a small business credit card?

Only you can judge what is most important to you about having a small business credit card, but in general there are a few key reasons a small business credit card could be a good idea for you and your business:

  1. Increase your business cash flow with the equivalent of an interest-free small business loan
  2. Separate your personal and business expenses
  3. Earn rewards or cash back on your business purchases
  4. Enjoy features and perks specialized for small business cards
  5. Build a credit history for your business

Learn more about why you need a small business credit card.

Who can get a small business credit card?

Let’s acknowledge one thing right off the bat: Today’s labor market is not your grandfather’s labor market (or maybe even your father’s). Being “in business” now means something completely different than it did even 10 years ago.

Given the explosion of the gig economy in the past 10-plus years, everything from rideshare drivers to Airbnb landlords to more traditional freelancer and contractor roles, it’s safe to assume a large percentage of the population finds themselves some part of this new way of doing business.

How do does this relate to small business credit cards? Well, for starters, many of those “alternative workers” are probably eligible for a small business credit card. That means freelancers, self-employed individuals, small business owners (or authorized officers of small businesses), entrepreneurs and more could all qualify.

Who can get a small business credit card

Most credit card companies define “business” quite broadly when it comes to considering applicants for small business credit cards. In many cases, you can provide a social security number instead of a federal tax ID (EIN) on your small business credit card application. And while many applications will ask for information about your business’ revenue, credit card companies are also aware that small business owners or entrepreneurs launching businesses do not yet have revenue streams. Those issuers want to get in on the ground floor of your startup business so, assuming your personal credit history is in good shape, that could go a long way in helping you get approved for your first small business card.

To qualify for a business credit card, you must be an “authorized officer” of a company. Basically, this means that you must have the legal right to enter into borrowing arrangements with financial institutions on behalf of a business.

If you are the owner of a sole proprietorship business or the sole owner of a small business, you are already an “authorized officer.” You are, after all, the only owner of the company. It can be more complicated determining who ranks for businesses that have multiple owners. In general, though, most owners are also “authorized officers.”

So what do banks actually consider when deciding who qualifies for a business credit card? If your business is new, your personal credit history is likely what will be considered.

This means that entrepreneurs with a history of missing their personal credit-card payments or making late payments to their mortgage lenders could struggle to qualify for a business credit card.

Banks also consider the type of business that applicants are either starting or running. If an applicant has an established business, expect the bank to consider at your balance sheet.

It’s worth noting that obtaining a business credit card will likely require a personal guarantee, which means you, as an owner or primary shareholder, are typically personally liable for the debt. Likewise, card activity might be reported on your personal credit history and will definitely be reported if you default.

Learn more about who can get a small business credit card.

Do I need an employer identification number to get a business credit card?

Not necessarily. Although small business credit card lenders will ask for an Employer Identification Number, or EIN, on the application, if you don’t have one, you can enter your Social Security number. This is generally accepted for small business owners who work as sole proprietors and do not have their businesses registered or have a formal business name.

On the other hand, those who do have an EIN will also be asked for their Social Security number when they apply for a small business credit card because lenders want to verify the creditworthiness of all potential cardholders. This is particularly important if you start a new business and haven’t had the chance to establish a business credit history.

How to apply for a business credit card?

You should understand by now that you could qualify for a small business card, you’re clear on why you want one and you’ve done the research to narrow down the options to the one for which you want to apply. It’s time to gather everything you need to submit that application.

As we’ve mentioned, to apply for a small business credit card, it’s important to get all of the facts. First and foremost, you should investigate the different types of cards that are available for small businesses, and get information about the perks they offer and the necessary qualifications applicants are expected to have. During this process, you should also find out what your personal credit score is, which will be a major part of lenders’ decision to grant you a card.

Then, you’ll need a lot of the same info you’d need to apply for a consumer card, but if you have an established business, you’ll also want to have some basic info on hand about your business: business and personal income, your annual revenue and expenditures, how long it’s existed, the business address and more.

What personal info do you need to apply for a small business card

If you don’t have full business info yet but still want a small business credit card, go ahead and apply. But – and this is a big but – DON’T lie! As we mentioned earlier, banks understand that startups need credit cards, so don’t stretch the truth trying to create business details that don’t yet exist just to qualify for the card.

Don’t panic over the info and try to keep in mind that not having a business history doesn’t automatically disqualify you from getting a small business card. The bank will just look at your personal credit history to determine whether you are approved. (Frankly, they’ll likely look at your personal history even if you do have an established business). If you have any questions or doubts about your application, call the issuer’s customer service number and speak with someone directly.

Learn more about how to apply for a business credit card.

Will my personal credit score be affected?

Most likely, yes, a business credit card can affect your personal credit score. In addition to your personal credit being used in order to evaluate whether you should get a card, the activity on the business card will be reported to the three credit bureaus and will impact your personal score. As a result, your payment history for your business card can make your personal score go up or down. Also, when you apply for the card, the credit bureaus will consider it a new inquiry, which can lower your personal credit score. 

Once your business has been around a while and had the chance to establish a credit score of its own, your personal credit will be less at risk.

Personal Credit Score Vs. Business Credit Score

A personal credit score is linked to your Social Security number, while your business credit score is linked to your Employer Identification Number or Tax ID Number. Also, your personal credit activity is summarized as a numerical score from 300-850, which is calculated by the three major credit bureaus  Equifax, Experian and TransUnion. Business credit activity, however, is summarized in a score on a scale of zero to 100, and is tracked by companies such as Dun & Bradstreet, Experian Business and Equifax Small Business.

Additionally, business credit scores, unlike personal scores, are available to the public though you may need to pay a fee to see it.

Just like with personal credit, it takes time to build a good business credit score, though the process is similar. Maintain responsible financial habits for your business and let time work for you. The age of your business, the type of debt you have and you assets and revenue will all contribute to your score. With business credit scores, factors such as industry risk and any legal filings will also impact it. 

What credit score is needed for a business credit card?

If you’re depending on your personal score to qualify for a small business card, you’ll find most are available to people with good or excellent credit, which means a score of at least 700 is ideal. That said, if your business is well-established and shows a strong pattern of revenue, a lower score could qualify you. There are a handful of small business cards available to people with Fair credit, though they are the exception rather than the rule.

If you’re applying for a card and you have a business credit score to use, most experts agree that a score of at least 75 is ideal.

How do you choose the best small business credit card?

As with the search for personal credit cards, when you’re researching small business credit cards there are a number of factors to consider before signing your name on the application line (or clicking “submit” online, as the case may be).

Don’t neglect taking the time to honestly consider the state of your business, the reasons you’re considering a small business credit card and the most important features you’re looking for in the card.

Beyond those general considerations, you’ll also want to think about where you do the bulk of your business spending; whether you are willing to pay an annual fee (in general, you should only pay an annual fee if you’re earning enough rewards to offset it); and whether cash back, points or travel rewards are most appealing.

How do you choose a small business card

Small business credit cards can make a big difference for your business, whether you own a small storefront somewhere or drive for Uber. Do your homework and narrow down your options, then pick the best small business credit card for you.

author
Brooklyn Lowery
Editor & Credit Card Expert

A journalist for nearly 20 years, Brooklyn has published work on a broad range of topics including personal finance and business as well as travel and human interest pieces. As a finance expert, she has provided commentary on credit cards, card rewards and personal finance for outlets including Forbes, Fox Business and many others. Her own wanderlust and travel experiences...Read more


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