Best Types of Credit Cards for Small Businesses

The credit card continues to serve a vital purpose in helping you access revolving credit that allows your business to run more efficiently. It's more than just large enterprises that can take advantage of business credit cards. Many startups, freelancers, and entrepreneurs are excellent candidates for having a business credit card.

Business credit cards help small business owners gain competitive cash back and benefits that streamline and reward their daily activities. For that reason, let’s check the best types of credit cards for small businesses. 

What Are Business Credit Cards?

A credit card is a small plastic card provided by a bank, building society, etc. It allows the holder to borrow funds within a pre-approved credit limit and thus buy products or services. 

A business credit card is a credit card designed for businesses rather than individuals. The best thing is that these cards are available to companies of all sizes, allowing them to build a credit profile and improve their borrowing terms in the future.

What differentiates these cards from regular credit cards is that they offer unique benefits, particularly for business purposes. They usually come with higher credit limits, including higher limits of sending money with a credit card, more significant reward potential, and tools for managing employee cards and spending.

Top 5 Credit Cards for Small Businesses

  1. Ink Business Preferred® Credit Card

The Ink Business Preferred® Credit Card offers rewards on everyday business expenses to business owners. If you are one of them, you can earn 3X points per $1 if you spend $150,000 on two combined purchases in the following categories

  • Travel

  • Internet

  • Shipping purchases

  • Cable and phone services

  • The use of social media sites and search engines for advertising

  • As for other purchases, you can earn 1x point per $1

After the first three months from account opening, you will receive a welcome bonus of 100,000 points after you spend $15,000. The card offers practical travel benefits like trip cancellation/interruption insurance, no foreign transaction fees, and auto rental collision damage waiver. There is a $95 annual cost, but by making the most of the benefits and welcome bonus, you can quickly compensate for it.

  1. American Express® The Business Platinum Card

Within the first three months of your Card Membership, earn 120,000 Membership Rewards points after spending $15,000 on eligible purchases. The annual fee for the business platinum card is $695, while APR is between 17.99% and 25.99%.

The Business Platinum Card is probably the best business card for travel-business purposes because it offers many benefits. You will get full access to the American Express Global Lounge Collection or TSA Precheck application and many business-related benefits and credits. 

You will also get 35% back on first- and business-class travel booked and paid with Membership Rewards points through on any airline you choose (enrollment required). Aside from that, you will get free Hilton Honors Gold status and Marriott Bonvoy Gold status, but registration is also required.

3. Brex 30 

Another great business credit card for startups and small businesses is Brex 30. Such credit card offer 10x to 20x higher credit limits, don’t require a personal guarantee, and has a $0 annual fee.

The card doesn't give a sign-up bonus, but it does offer great earning rates and credits designed for tech firms, including 7x on ridesharing, 4x on Brex travel, 3x on dining out, 2x on software, and 1x on everything else. Each Brex point is worth 1 cent.

4. American Express® Business Gold Card

The American Express® Business Gold Card gives out competitive rewards to reduce the expense of shipping your goods. They have a customizable rewards program that gives the two categories where you spend the most money each month the most effective rewards rate (4X points). This refers to up to $150,000 in both categories; after that is 1X.

Such categories include purchases for:

  • Shipping

  • Advertising in select media, including social

  • Preferred technology providers of computer software, hardware, and cloud solutions

  • Gas stations and restaurants

  • Tickets from airlines

In addition to rewards, this card offers benefits like car rental loss, damage protection, and expenditure management tools if your job needs you to travel abroad. Although there is a $295 annual charge, the advantages of the card may cover it easily.

5. U.S. Bank Business Platinum Card

Balance transfers on the U.S. Bank Business Platinum Card are incredibly affordable. This business credit card has the following:

  • 0% on balance transfers and purchases 

  • 0% intro APR for 18 billing cycles on purchases

  • 0% intro APR 18 billing cycles on purchases with a 14.99% - 23.99% (Variable) APR

  • $0 annual fee

Aside from these benefits, you may monitor your spending and manage your expenses better with Visa Business Reporting.

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