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Best business credit cards for August 2024

Ben Walker (CEPF, CFEI?)
·Senior Writer, Credit Cards
Updated 21 min read
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The best business credit cards on the market can help you earn valuable rewards and take advantage of useful benefits, such as purchase protection or travel redemptions. Even better, there’s a suitable card for almost any business owner, whether you’re running a brick-and-mortar store or doing freelance work on the side.

  • Annual fee: $0

  • Welcome offer: 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

  • Intro APR: 0% intro APR for 12 months on purchases (then 18.49% - 24.49% variable APR)

  • Rewards:

    • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year

    • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year

    • 1% cash back on all other card purchases with no limit to the amount you can earn

  • Recommended credit score: Good to excellent

  • More business benefits: Chase credit cards are known for their protection perks, and the Ink Business Cash is no exception. You can take advantage of purchase protection and extended warranty protection benefits on eligible purchases you make with your card.

Why we like this business credit card for everyday business spending: The Ink Business Cash is one of our favorite business cards because of its high rewards rate. Earning 5% cash back on common business expenses is a huge deal, blowing away most other business card rewards rates.

Note that the 5% rate is limited to $25,000 in eligible spending each account anniversary year. But if your business spends that much, you’ll pocket a cool $1,250 in cash-back rewards that you can redeem as statement credits, travel, gift cards, and more.

  • Annual fee: $0

  • Welcome offer: Earn a $500 cash rewards bonus when you spend $5,000 in purchases in the first 3 months

  • Intro APR: 0% intro APR for 12 months from account opening on purchases (then 18.49% to 26.49% variable APR)

  • Rewards:

    • 2% cash back on purchases made for your business

  • Recommended credit score: N/A

  • More business benefits: The Signify Business Cash Card includes a complimentary annual Priority Pass membership. You still have to pay for individual lounge entry fees (typically around $35 per visit), but you don’t have to pay for the Priority Pass membership (worth around $100).

Why we like this business credit card for simple cash rewards: Wells Fargo’s Signify Business Cash is an excellent cash-back credit card if you want to earn a flat rewards rate on all your eligible purchases. With unlimited 2% cash rewards, you don’t have to worry about different spending categories or spending caps. Simply use your card to make purchases and reap the rewards.

Your cash rewards can be redeemed for travel, gift cards, and account credits.

  • Annual fee: $0 (see rates and fees)

  • Welcome offer: Earn 15,000 points after you spend $3,000 in eligible purchases within your first 3 months of account opening

  • Intro APR: 0% intro APR on purchases for 12 months from the date of account opening (then 18.49% to 26.49% variable APR)

  • Rewards:

    • 2x points on eligible purchases (up to $50,000 spent per year, then 1x points)

    • 1x points on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: The Amex Blue Business Plus includes both purchase protection and extended warranty coverage* for your eligible purchases. You can also transfer your points to over a dozen Amex travel partners for increased redemption flexibility.

Why we like this business credit card for simple travel rewards: If you prefer earning travel rewards, it doesn’t get much easier than the Amex Blue Business Plus. With this card, you can earn 2x points on up to $50,000 per year in eligible purchases (then 1x points; terms apply) with no spending categories to worry about.

If your business spends $50,000 annually on the card, that’s 100,000 Membership Rewards points you can redeem toward travel, statement credits, gift cards, and more. Conservatively, we’d say that’s worth at least $1,000 (less with certain redemptions), but we’ve found you can typically get more value from your points if you transfer them to travel partners like Air France KLM, Iberia, or Virgin Atlantic.

*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

  • Annual fee: $95

  • Welcome offer: Earn 120,000 bonus points after you spend $8,000 on purchases in the first 3 months (that's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel?)

  • APR: 21.24% to 26.24% variable APR

  • Rewards:

    • 3x points on the first $150,000 spent on travel and select business categories each account anniversary year

    • 1x points on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: In addition to purchase protection and extended warranty protection, the Ink Business Preferred also offers cell phone protection, which isn’t a common card benefit. There are also no foreign transaction fees and you can transfer points to Chase travel partners.

Why we like this business credit card for boosted travel redemptions: The Chase Ink Business Preferred is a popular travel card for small business owners because it earns valuable Ultimate Rewards points, worth 25% more when redeemed for travel through Chase Travel?.

That means 120,000 points could get you a $1,200 statement credit or $1,500 toward travel booked through Chase.

Read more: Chase Ink Business Preferred review

  • Annual fee: $99

  • Welcome offer: Earn 140,000 points after spending $4,000 on purchases in the first 3 months

  • APR: 21.49% - 28.49% variable APR

  • Rewards:

    • Up to 26x points at IHG Hotels and Resorts

    • 5x points on travel, at gas stations, select advertising, and restaurants

    • 3x points on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: The IHG One Premier Business includes purchase protection, extended warranty protection, and no foreign transaction fees. You can also earn a $100 statement credit and 10,000 bonus points after spending $20,000 each calendar year.

Why we like this business credit card for hotel benefits: The IHG One Premier Business offers up to 26x points per dollar spent at IHG Hotels and Resorts, making it a lucrative opportunity for IHG loyalists. You can also earn a free anniversary night each year, with a point redemption cap of 40,000 points.

The anniversary free night may be the most compelling reason to apply for this card, as it’s an easy way to offset the $99 annual fee immediately. In our experience, we typically get more than $99 worth of value from the free night benefit alone, making other benefits count as pure profit in our eyes.

Other notable benefits on this hotel credit card include automatic IHG One Rewards Platinum Elite status and a fourth night free when redeeming points for a consecutive four-night IHG hotel stay.

  • Annual fee: $0 for the first year, then $99

  • Welcome offer: Earn 75,000 bonus miles after you spend $5,000 on purchases in the first three months

  • APR: 21.99% - 28.99% variable APR

  • Rewards:

    • 2x miles on United purchases, dining, at gas stations, office supply stores, and on local transit and commuting

    • 1x miles on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: The United Business Card offers both purchase protection and extended warranty protection.

    • Some of the specific United benefits include:

    • Free first checked bag for you and a companion on the same reservation

    • $100 United travel credit after eligible flight purchases

    • 5,000 anniversary bonus miles if you also have a personal United credit card

    • Two United Club one-time passes each year

    • 25% back on United inflight and United Club premium drink purchases

    • Priority boarding on United-operated flights

Why we like this business credit card for airline benefits: As part of its overall rewards rate, the United Business Card offers 2x miles per $1 spent on purchases with the airline, making it a top choice for United business travelers.

It’s a decent rewards rate, but we think much of the value of this airline credit card lies in its United benefits, especially the free checked bag. Considering a prepaid checked bag costs $35 per one-way domestic flight, you could save $70 roundtrip. Add in a companion and that’s another $70 saved, or $140 total.

If you take at least one solo roundtrip flight per year, the free checked bag benefit alone could almost entirely offset the annual fee. If you’re traveling with someone else, the annual cost would be more than offset.

  • Annual fee: $0

  • Welcome offer: Earn $500 in cash back after you spend $4,500 on purchases in the first five months

  • APR: 0% intro APR on purchases and balance transfers for the first 15 months (then 19.24% to 28.24% variable APR)

  • Rewards:

    • 3% cash back on eligible purchases at gas and EV charging stations, office supply stores, cell phone service providers, and restaurants

    • 1% cash back on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: With the U.S. Bank Triple Cash Rewards Visa Business, you can receive a $100 credit per 12-month period for recurring software subscriptions. That could include services like FreshBooks or QuickBooks.

Why we like this business credit card for elevated earning: We like the U.S. Bank Triple Cash Rewards Visa Business because you can earn an above-average rewards rate (3%) if your business expenses align with the offered categories: gas and EV charging stations, office supply stores, cell phone service providers, and restaurants.

It’s worth noting that this is a 0% intro APR card that provides a generous introductory offer on purchases and balance transfers, which you don’t always see on small business credit cards.

  • Annual fee: $0

  • Welcome offer: Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days

  • APR: 0% intro APR on purchases for the first 9 billing cycles following the opening of your account (then 18.49% to 28.49% variable APR).

  • Rewards:

    • 3% cash back in the category of your choice*, including gas stations and EV charging stations (default); office supply stores; travel; TV, telecom, and wireless; computer services; or business consulting services

    • 2% cash back on dining*

    • 1% cash back on all other purchases*Earn 3% and 2% cash back on the first $50,000 in combined spending each calendar year, then 1%

  • Recommended credit score: Excellent

  • More business benefits: You can earn up to 75% more cash back if you have a Bank of America business checking account and qualify for the Preferred Rewards for Business program.

Why we like this business credit card for customized earning: You rarely get to choose how you earn rewards, but that’s exactly what you get with the Bank of America Business Advantage Customized Cash.

For the 3% earning rate, you can choose from six different rewards categories each calendar month. Whether the categories are useful to you largely depends on your business. Still, there are everyday options to choose from, including gas stations and EV charging, office supply stores, and travel.

Keep in mind that the default category is gas stations and EV charging stations. In addition, there’s a $50,000 cap on combined 3% choice category and 2% dining purchases.

Read our full review of the Business Advantage Customized Cash Rewards card

  • Annual fee: $695 (see rates and fees)

  • Welcome offer: Earn 150,000 points after you spend $20,000 in eligible purchases within the first three months

  • APR: 19.49% - 28.49% variable APR

  • Rewards:

    • 5x points on flights and prepaid hotels on AmexTravel.com

    • 1.5x on eligible purchases at U.S. construction and hardware suppliers; electronic goods retailers; software and cloud system providers; shipping providers; and on purchases of $5,000 or more everywhere else (on up to $2 million in combined spending per calendar year, then 1x)

    • 1x points for each dollar you spend on all other eligible purchases

  • Recommended credit score: Good to excellent

  • More business benefits: The Amex Business Platinum doesn’t charge foreign transaction fees and provides purchase protection and extended warranty coverage on eligible purchases. You can also use cell phone protection if you pay your phone bill with your card.* In addition, there are loads of credits and perks you might find helpful as a small business owner, including:

    • Up to $400 ($200 semi-annually) Dell Technologies credit per year

    • Up to $360 ($90 quarterly) Indeed credit per year

    • Up to $150 back annually on select Adobe subscription services

    • Up to $120 ($10 per month) credit for U.S. wireless telephone service provider purchases per year

    • Up to $200 airline fee credit per year

    • Up to $199 CLEAR Plus credit per year

    • $100 Global Entry statement credit every four years or up to $85 TSA PreCheck credit every 4.5 years for application fees (terms apply, enrollment required for some benefits)

Why we like this business credit card for premium travel benefits: You can potentially receive over $1,000 in value from the Amex Business Platinum’s many credits, which is more than enough to offset the annual fee. And that’s not including the value you could get from other card perks, such as airport lounge access.

The Amex Business Platinum offers complimentary access to over 1,400 airport lounges worldwide. This includes more airport lounge networks than you can find on just about any other travel credit card, making it a good fit for frequent business travelers.

*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

If our main recommendations don’t seem like the right fit, consider these excellent alternatives that could better suit your business needs.

Ink Business Unlimited? Credit Card

Recommended credit score: Good to excellent

The Ink Business Unlimited has a $0 annual fee and offers unlimited 1.5% cash back on purchases. We like how simple and easy it is to use, making it a prime choice if you’re new to rewards credit cards or don’t want the hassle of memorizing confusing bonus categories.

Read our full review of the Ink Business Unlimited Credit Card

In addition to the rewards rate, new cardmembers can also earn $750 bonus cash back after spending $6,000 on purchases in the first three months. There’s also a 0% intro APR offer for 12 months on purchases (then 18.49% - 24.49% variable APR) if needed.

Southwest? Rapid Rewards? Premier Business Credit Card

Recommended credit score: Excellent

We recommend this card if you frequently fly Southwest because you can earn Rapid Rewards points on your business purchases while also benefiting from Southwest perks, such as two EarlyBird Check-Ins per year and 25% back on inflight purchases.

The Southwest Rapid Rewards Premier Business has a $99 annual fee and offers 3x points on Southwest purchases, 2x points on Rapid Rewards partners for hotels and car rentals, 2x points on local transit and commuting, and 1x points on all other purchases.

As a new cardmember, you can earn 60,000 points after spending $3,000 on purchases in the first three months.

The American Express Blue Business Cash? Card

Recommended credit score: Good to excellent

It’s hard to beat the Amex Blue Business Cash for simple cash-back rewards. It has a $0 annual fee (see rates and fees) and offers 2% cash back on eligible purchases up to $50,000 per year (then 1%). The main drawback of this card is the $50,000 spending cap, but that’s not an issue if you tend to spend less than that.

You can also earn a $250 statement credit after making $3,000 in purchases in your first three months as a new cardmember.

Marriott Bonvoy Business? American Express? Card

Recommended credit score: Good to excellent

For small business owners who are Marriott loyalists, the Marriott Bonvoy Business Amex Card is worthy of consideration. It has a $125 annual fee (see rates and fees), but this can be easily offset each year with the one Free Night Award you receive after card renewal.

You also receive 15 Elite Night Credits each calendar year for simply being a cardholder. That could help you achieve a higher elite status each year while also contributing to hitting lifetime Marriott Bonvoy elite status.

Note that if you prefer to stay at Hilton properties, The Hilton Honors American Express Business Card is where you should be looking.

Recommended credit score: Excellent

The Capital One Venture X Business makes sense if you want top travel benefits with an annual fee ($395) that’s lower than many other premium travel cards. With its $300 annual travel credit for bookings through Capital One Travel, you’re already well on your way to recouping the annual cost each year.

The Venture X Business also offers complimentary Priority Pass membership and free access to Capital One Lounges. Even better, you can bring two guests at no additional cost.

  • Travel credit cards: These cards make sense if you want to earn travel rewards, such as points or miles, on your business purchases. Rewards can be used for travel-related redemptions, including flights, hotel stays, and car rentals.

  • Cash-back credit cards: You can typically redeem cash-back rewards for statement credits and gift cards. In some cases, you could also receive deposits into an eligible checking or savings account.

  • Secured credit cards: Whether secured vs. unsecured cards are best depends on your credit history. The typical credit card is unsecured, which means your credit limit isn’t tied to any collateral; instead, it’s determined by your credit report. Secured credit cards tend to have less strict eligibility requirements because you must offer collateral to open one. Secured cards generally have a security deposit requirement, which often acts as your credit limit. For example, you might put down $1,000 as your deposit and then have a $1,000 credit limit.

  • Corporate cards: A corporate card is a specific type of business card typically only available to incorporated businesses, such as corporations and some limited liability companies (LLCs). These cards tend to have stricter eligibility requirements based on company size and available assets.

Just about anyone with a business, even a new business, can apply for a business credit card. That includes anyone who operates a sole proprietorship, partnership, corporation, or LLC.

Sole proprietors could include any number of people who earn money independently, such as freelancers and people who work side hustles.

If you don’t have some sort of income-earning venture or side gig, you might not qualify for a business credit card. But remember that it’s probably easier than you think to meet the qualifications to apply for a business card, especially if you have a good personal credit history.

The best credit card for business depends on your preferences and personal finance goals. Consider these factors to help find a card that suits your business needs:

  • Credit requirements: Most business credit cards require a personal guarantee, meaning you need at least a good personal credit score to qualify. Certain cards could require an excellent credit score, so it’s worth doing some research to find a card that aligns with your current financial situation. If your score is lower than you’d like, you can use credit cards to boost your credit score.

  • Fees: Annual fees and foreign transaction fees are common but avoidable, depending on your needs. In general, cards with premium benefits have annual fees, and credit cards with no foreign transaction fees tend to be travel-oriented.

  • Benefits: Card perks vary by card and issuer. Benefits could include airport lounge access, cell phone protection, travel insurance, and more.

  • Rewards: Rewards credit cards generally earn points, miles, or cash back. Points and miles are associated with travel redemptions, while cash back can be redeemed for things like statement credits, gift cards, and (sometimes) bank deposits. Many rewards cards offer welcome bonuses, which are great ways to earn a lot of points as a new card member.

  • APR: Ongoing APR rates on credit cards are often high, so it’s rarely a good idea to carry a balance. However, some business cards provide 0% intro APR offers on purchases, allowing you to avoid interest during the introductory period. This could come in handy if you have a large purchase coming up and want some extra time to pay it off without added interest.

Business credit card applications are similar to personal credit card applications in that you have to provide some personal information. You can also easily fill out and submit an application online. The main difference when applying for a business card is that you must also provide information about your business.

Here’s a breakdown of some of the different items you might see on a business card application:

  • Authorizing officer title: For sole proprietors, you’re the owner. If it’s a different business setup, you might be a member, partner, president, or another type of officer.

  • Business structure: Choose between corporation, LLC, nonprofit, partnership, or sole proprietorship. You're likely a sole proprietor if you work for yourself, such as freelancing or doing a side gig.

  • Legal business name: Your company’s name is typically your own if you’re a sole proprietor.

  • Business mailing address: Unless you have a specific business address, this is your home address.

  • Business phone number: If you don’t have a business phone number, you can use your personal number.

  • Tax ID type: If you're a sole proprietor, you might not have an employer identification number (EIN), so you can use your Social Security number (SSN).

  • Number of employees: For sole proprietors, you only have one employee (yourself).

  • Business established date: This is when your business was created. This doesn’t necessarily mean the date you started making money, as the start of your business is when you began setting it up.

  • Annual business revenue: This is your last year of business revenue. If your business is new, you can put “$0” or an amount you’re projected to earn.

  • Business category: Select the categories most aligned with your business from the available options.

  • Estimated monthly spend: How much you expect to spend on your business credit card each month.

It’s possible to apply for and get approved for a business credit card with just an EIN, but it likely won’t be feasible for most small business owners. This is because many EIN-only cards are corporate cards with strict eligibility requirements, such as having a high minimum cash balance of $50,000 or more.

To qualify for a business credit card, you typically need a good to excellent personal credit score (at least a 670 FICO score). Many small business owners don’t have much or any business credit history, so business card issuers often do a hard credit check into your personal credit history to assess your creditworthiness.

Most credit card issuers do a hard credit inquiry to check your personal credit report when you apply for a new business credit card. Hard inquiries could initially drop your credit score by a few points but typically won’t impact your credit score for more than 12 months.

Qualifying for secured business credit cards is often easier because of more relaxed eligibility requirements. However, you generally have to put down a security deposit that acts as your credit limit. Also, many secured credit cards have fewer benefits than their unsecured counterparts.

We researched nearly all available options from major card issuers to find the best business credit cards. We did not research all the products available from every credit card company.

Using our research, we compiled a list of dozens of different business credit cards and created a rubric to rate each card based on various criteria. Some factors we considered include ongoing APR, annual fee, welcome offer, rewards rate, security features, mobile app ratings, and additional benefits.

Our final list includes cards that scored well on our rubric and ones that, based on our experience, research, and expert opinion, could make sense for a wide variety of small business owners.

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.