Business credit cards allow you to separate your small business expenses from your personal expenses, and they very often have business-specific rewards that are different from personal credit cards. Note, however, that unless your business is well established, getting approved for a business credit card will usually require you to make a personal guarantee. What does that mean? If you fail to pay your card bills, you will hurt your personal credit score.
That said, here are our picks for the best business credits on the market today:
- SimplyCash Plus Business Credit Card from American Express – Earn a 5% rebate on all purchases from U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers. You also get to choose a 3% rebate category from a list that includes airfare, hotel, car rentals, gas, restaurants, advertising, etc. Finally, you get 1% cash back on all other card purchases. No annual fee.
- Ink Business Cash from Chase – Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on Internet, cable and phone services each year. Also, earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants. 1% cash back on everything else. No annual fee.
- American Express Business Platinum Card – It’s got a hefty annual fee of $450, but a great card for frequent business travelers. You’ll get 5 Membership rewards points per dollar on flights and prepaid hotels booked through AmexTravel.com, and you’ll get a 35% rebate of the points you redeem if used toward flights. You’ll get 1 point per dollar on other purchases, except large purchases over $5000, which will earn you 1.5 points per dollar. You’ll get a $200 airline fee credit from a single airline of your choice, for things such as baggage, in-flight purchases, etc. (but not the tickets themselves). You’ll get access to the American Express airport lounge network and many other perks. You can also earn up to 75,000 bonus points in the first year based on your spending volume.
- U.S. Bank Business Edge Cash Rewards – Get 3% cash back on cellular, gas and office supply store purchases. 1% cash back on all other purchases. Each year you’ll get a 25% bonus on the amount you earned in rewards, so you could also think of that 3% rebate as a 3.75% rebate and that 1% rebate as a 1.25% rebate. No annual fee.
- Spark Cash Select for Business from Capital One – Offers an easy rewards formula: you get 1.5% cash back on all your card purchases, with no spending categories to consider and no cap on earnings. It’s a simple way to get a generous cash rebate without spending your valuable time thinking about credit card rewards. No annual fee. (Alternately, if you think you’ll use your card very often, consider the Spark Cash for Business card, which offers 2% cash back on all purchases but has a $95 annual fee after the year you have the card. You’ll need to put at least $20,000 on your card each year to make that annual fee worth it.) Other no-annual-fee cards offering the same 1.5% cash back formula: Wells Fargo Business Platinum and PNC Cash Rewards.
- TD Business Solutions Credit Card – Get a 3% rebate on your business phone, Internet and cable services. Get a 2% rebate on restaurant and gas station charges. Get 1% back on everything else. No annual fee.
- Bank of America Business Advantage Cash Rewards – Earn 3% cash back on purchases at gas stations and office supply stores, 2% at restaurants, and 1% everywhere else. Also has a nice $200 bonus cash back offer if you spend $500 with the card in the first 3 months. No annual fee.
Specialty Business Cards To Consider
If you run a certain type of business or want travel rewards, consider these cards:
- CitiBusiness AAdvantage Platinum Select – Earn American Airlines miles for your business purchases. $99 annual fee (waived for the first year, however).
- Delta SkyMiles Business Credit Cards – Delta offers four different business credit cards with varying perks and annual fees.
- Southwest Airlines Rapid Rewards Business Card – Earn Southwest points and perks. $99 annual fee.
- United MileagePlus Business Credit Cards – Earn United miles on your business purchases, Choose between the $95 annual fee Explorer Card or the $450 annual fee Club Card with greater rewards.
- Costco Anywhere Visa Business Card – Strong cash back card but only available to paid Costco members. Get 4% cash back on gas, 3% back on restaurant and travel purchases, 2% back on Costco purchases, 1% back everywhere else.
- Lowe’s Business Credit Cards – Get 5% off all Lowe’s purchases, which could be attractive to contractors who regularly buy at Lowe’s. If you choose the Lowe’s American Express Card, you can earn other rewards, too. No annual fee.