If you are a business owner, then the best business credit cards are a must-have for your business whether you own a large, medium or small business. Businesses need credit and having the best business credit cards are essential to help fund your business, save cash and earn great rewards in the process. If you want to know how to choose the best business credit cards, remember this: finding the best business credit cards can be easy if you know what to look for.
This best business credit cards guide will teach you everything you need to know about small business credit cards and the best business credit card offers. As we do with the best rewards credit cards, best 0% APR credit cards and best cash back credit cards, we break down all our best picks for the best small business credit card and more in this guide.
Best Business Credit Cards: Can I get a small business credit card?
If you have a small business, a freelance gig, a consultancy, or even a side hustle, you can benefit from a small business credit card. It’s important to keep your personal expenses and business expenses separate from each other to keep you organized at tax time. The best small business credit cards offer cash back and bonus rewards for airlines, gas, office supplies and other categories.
With the best business credit cards, it is essential that you repay your credit card balance each month in full. Why? If you do not repay your credit card balance in full, you will be charged interest, which can cost you more than the value of your business rewards. This is particularly important for small business owners because otherwise interest charges will hurt profits.
Best Small Business Credit Cards: What is the purpose of a small business credit card?
The best business credit cards are for managing your expenses, earning great cash back and travel rewards, and separating your personal expenses from your business expenses. The best small business credit cards should not really be used to finance purchases. Why? The interest rates you would pay would be expensive. If you need to finance purchases, then your best bet is a 0% APR credit card.
Best Business Credit Cards: How should I choose the best business credit cards?
There are several factors to consider when you choose the best business credit card:
When you choose the best small business credit card, the cash back rewards rate often is your top consideration. The best business credit cards typically have a business rewards rate of 1.0% to 1.5% to 2% for flat percentage cash back rewards. For rotating spending categories or tiered spending categories, the rewards rate can have a higher percentage.
If your small business credit card has any annual limits on the amount of cash back you can earn, and you plan to exceed that limit in a single year, then you can use another business credit card to earn more cash rewards. So, you can be strategic about how you use the best small business credit cards and choose more than one business credit card to help you earn more cash back.
Introductory APR / Final APR
Best Business Credit Cards: How to get approved for the best business cards
To get approved for the best 10 business credit cards, credit card companies will evaluate your credit profile, income, other debt and your history of financial responsibility. Credit card companies offer the best business credit cards to customers have a history of financial responsibility who they can trust to repay their credit card balances in full.
Best Business Credit Cards: How to choose the best business credit cards
Best Business Credit Cards: The best ways to redeem cash with the best business credit cards
1. Bank deposit:
2. Statement Credit:
3. Gift Cards:
What’s the best way to use a small business credit card?
Best Credit Cards: Are there small business credit cards with no personal liability?
Best Small Business Credit Cards: How do I build credit for my business?
Here are some more ways to build credit for your business:
- Start a business checking account.
- Improve your personal credit history.
- Apply for the best small business credit cards.
- Always pay your credit card balance in full.
How do I find my business credit score?
Your business credit score is available for a fee from the following companies: Dun & Bradstreet, Equifax and Experian. Dun & Bradstreet has a free service called CreditSignal, which gives you alerts when your business credit score or credit reports change. However, to access your business credit report, you have to pay a fee.
Should I get a small business credit card or a small business loan?
What is the best way to manage the best business credit cards?
1. Review and monitor your credit card’s terms and conditions.
2. Monitor employees.
3. Always pay the balance in full.
4. Track your spending.
5. Deduct interest on your taxes.
How do you apply for the best business credit cards?
1. Business Overview
2. Personal information
3. Personal guarantee
As a small business owner, you will be responsible for your small business credit card. This means that if you fail to make payments on your credit card, you are personally responsible.
4. Social Security Number or Employer Identification Number