Best Business Credit Cards | Small Business Credit Cards Fair Credit

Best Business Cards

Overview:

  • Bring your Business finances to the next level with a Business rewards card.
  • Bonus offer – new card holders may be eligible for welcome bonuses of up to 80,000 points.
  • Earn rewards points on your everyday business expenses.
  • Rewards can be redeemed for business expenses like airfare, gas, or hotel rooms.
  • Credit cards and charge cards are available.
  • Terms vary by partner offer. Please see each bank's application for terms and conditions.
  • Clicking Apply Now will take you to CreditCards.com to compare Business cards from participating partners.

What are small business credit cards?

Small business credit cards help your small business get access to capital that you can use on an ongoing basis. The best business credit cards also help you build credit, earn credit card rewards and manage your expenses. Whether you are a sole proprietor, entrepreneur or small business owner, the best small business credit card can help improve your business.

Small business credit cards are a popular source of financing for your business. This is true particularly for business owners who do not have access to business loans from a bank or from investors. The good news is that many small business credit cards do not carry spending limits, which means you as a business owner have the flexibility to charge based on your business need s.When you compare small business credit cards with personal credit cards, you will find that the best business credit cards have higher credit limits. That said, you will want to pay off the balance on your small business credit cards each month to avoid high interest costs.

It is also important to evaluate business credit card offers to understand personal liability for debts. When you find the best small business credit card for you, liability can differ based on which small business credit cards you choose. For example, some of the best business credit cards offer “commercial liability,” while other business credit cards offers offer “joint and several liability.”Small business credit cards with commercial liability means that your business is responsible for its debts, and you do not have personal liability. Business credit card offers with joint and several liability means that both you and your business are liable for debts, so you would have personal liability.

The best small business credit card also allows you to issue multiple credit cards under the same account. This feature allows you to give credit cards to your employees. With the best business credit cards, you can set credit limits and customize user privileges for individual employees.

Finally, the best business credit cards offer attractive payment terms that help business owners.
For example, small business credit cards may offer discounts for paying your balance early, or the potential to defer payments if your cash flow is slow or bumpy. Other small business credit cards may allow you to finance larger purchases with your best small business credit card.

What are the benefits of small business credit cards?

Small business credit cards have multiple benefits, including:

1. Rewards
The best small business credit will come with great rewards and sign-up bonuses that can benefit your business. You are probably wondering how to get a business credit with all these great rewards. Make Lemonade compares the best business credit cards so you can find which is the best small business credit card for you. In addition to great rewards and bonuses, the best business credit cards have other benefits such as low APRs, personalized concierge services and even business credit card offers for balance transfer.

2. Track expenses
The best business credit cards help you evaluate and track your expenses. When it comes to choosing the best business credit card for you, make sure to separate your personal expenses from your business expenses. Small business credit cards should only be for business expenses. This will be helpful during tax time and for your business accounting records.

3. Build Credit
Small business credit cards can help you build credit. When you first determine how to get a business credit card, you will likely apply with your personal credit score. When you use your small business credit cards, you will begin to build a business credit score. As your business credit score increases, you will get better borrowing terms on your best small business credit card.

4. Ability to add employees
With the best business credit cards, you can add employees as authorized users under the same account. Many small business credit cards also help you monitor their spending, and set privileges and limits for individual employees.

What are the drawbacks to small business credit cards?

Small business credit cards typically have annual fees. With even the best business credit cards, you may have personal liability for any debt. As long as you spend responsibly and pay off your credit card debt, this should not be an issue. If you do carry a credit card balance, many small business credit cards may report this information to credit bureaus, which could impact your personal credit report. Finally, small business credit cards are not covered by the CARD Act, which protects customers with personal credit cards. This means that even with the best small business credit card, there are fewer protections for cardholders.

How do I get a business credit card?

To find the best small business credit card, you should consider several things before selecting the best small business credit card for you. Here are the best steps to take:

1. Check your credit score
Before you apply for the best business credit cards, check your credit score. Your personal credit score is the gateway to all your financial products, including small business credit cards. Most small business credit cards require a strong credit score, but there are also business credit cards for bad credit too.

2. Compare business credit card offers
You should compare business credit card offers on Make Lemonade. You can assess several business credit card offers, including for credit limits, fees, liability and most importantly, small business credit cards rewards. If you plan to pay your balance on your small business credit cards in full each month, then your best bet is to choose small business credit cards with rewards or cash back.

3. Determine if you want employee cards
With the best business credit cards, you can make your employees authorized users. This can help you manage and track spending. With most of the best business credit cards, you also can customize spending limits with individual employees.

4. Apply for your best small business credit card
Choosing your best small business credit card or best business credit cards should be done after your evaluate all the business credit card offers. You can apply directly with our partners on Make Lemonade to evaluate business credit card offers to find the best small business credit card for your needs.

How do you get approved for the best small business credit card?

You can qualify for the best business credit cards whether you have excellent credit, fair credit or poor credit. To get approved for the best business credit cards, having excellent credit is always your first choice. Strong credit will help you get access to a wider selection of the best business credit cards.

Issuers of small business credit cards will evaluate your personal credit history, and if applicable, your business credit history. Ideally, you have strong credit when applying for the best business cards. That said, there are business credit cards for bad credit too. You should review your credit reports with the three major credit bureaus – Experian, Equifax and TransUnion – and correct any errors. The stronger your credit, the better rates you will have with the best small business credit cards.

Do the best business credit cards come with rewards?

The best business credit cards come with rewards. The good news is that both you and your employees can earn rewards for your business based on spending. When evaluating business credit card offers, pay attention to your categories of spending. The best small business credit card for you will help you maximize rewards in the categories in which you spend most.

Here are some major spending categories and how to get a business credit card that maximizes rewards for you:

1. Travel rewards
If your business requires you or your employees to travel, a travel rewards small business credit cards may make sense. Typically, you can earn high rewards for spending on travel for small business credit cards. You can also choose small business credit cards with hotel rewards, which you can redeem for complimentary nights and upgrades. Travel rewards credit cards for small business also may have additional benefits such as airport lounge access and complimentary luggage check-in fees.

2. Cash back rewards
Cash back rewards for small business credit cards are a great option if you want cash back for your spending. Cash back rewards are best if you don’t plan to redeem your rewards for travel, and prefer to save money directly from your small business credit cards. The best business credit cards with cash back rewards are also a good option for businesses that don’t require you or your employees to travel. The best business credit cards offer actual cash back or as a statement credit.

3. Office supplies
There are also business credit card offers for small business credit cards for spending on office supplies. These types of small business credit cards also may give rewards for spending on internet, phone and other office expenses.

4. Dining and gas rewards
Another option for rewards for the small best business credit card are dining and gas. If your business requires entertaining clients or driving frequently, then these rewards cards may make sense for you.

Are there business credit cards for bad credit?

If you have bad credit, there are business credit cards for bad credit. The best business credit cards for bad credit come in two forms: secured credit cards and unsecured credit cards. Secured credit cards are best business credit cards for bad credit. Secured small business credit cards require a security deposit, which will be your credit limit.

If you have bad credit and want to apply for business credit cards for bad credit, secured credit cards can be a useful option. With the best business credit cards for bad credit, you can provide a security deposit that supports your spending. If you miss a payment or have a late payment,the funds will be subtracted from your security deposit.

The other benefit of business credit cards for bad credit is that they can help you build credit. Why? Since you have a security deposit with the credit card issuer, you have essentially limit the risk of non-payment or late payments on your credit card balance. If you pay your balance in full monthly, you will signal that you are a responsible borrower, which will help improve your credit score. Over time, this can also help you increase your credit line with the best business credit cards.

Best Business Cards
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