Here are the criteria we used to choose the cards listed above:. As you can see, the bulk of the first-year value comes from the sign-up bonus itself — I used our latest valuations to calculate a dollar amount for each offer. Related: The best cards for each business credit card category.
More and more business credit cards offer tiered bonuses based on your business spending in the first three to six months. Related: The ultimate guide to credit card application restrictions. Instead, the best business card for your small business depends on various aspects. For example, do you prefer earning cash-back rewards, airline miles, hotel points or transferrable currencies? Are you willing to pay an annual fee? What categories does your business spend the most in each year? Do you or your employees travel frequently, and if so, would there be a benefit in having hotel elite status or a checked bag allowance when flying?
You should also take into consideration the kind of spending you make. Or, if you plan on paying your balance each month in full, then you might consider going for a card that has the biggest sign-up bonus and the most lucrative rewards.
You may notice that on closer inspection, some business credit cards offer extra little perks like itemized end-of-year statements, employee cards and in-app functionality for uploading photos of receipts to match with card purchases. Related: How to choose the right credit card for you. A business credit card can help you maximize your purchases, separate your expenses and save money on interest each year.
These business credit cards offer bonus rewards on categories popular with small businesses, such as office supplies , airfare , advertising and gas. In fact, business-specific bonus categories are one of the main ways that business credit cards differ from personal credit cards. For more information about the best personal credit cards on the market, be sure to check out our best credit cards , best rewards credit cards and best travel credit cards pages to find the perfect partner to pair with your new business card.
But you need to do your research before applying for a small-business credit card. While business cards often offer tailored bonus categories and additional benefits for business owners, they also have fewer consumer protections than personal credit cards.
Related: The best business and personal credit card combinations. But what next? It can be strange to switch up spending habits, but try to switch to using your business credit card as your go-to option rather than cash, debit, bank transfers or other payment methods.
Earn your sign up bonus The sign-up bonus is one of the most, if not the most, lucrative ways of earning lots of points or air miles and for the least amount of effort. Sign-up bonuses are usually in the form of spending a certain amount of money in a certain amount of time.
Claim interest and fees as tax deductions Some credit card fees and interest are deductible from your tax returns as business expenses. If you own a small business or just do freelance gigs , you could be eligible for a business credit card. When filling out an application form for a business credit card, there are some extra pieces of information required in addition to what you might provide for a personal credit card application.
This is likely to include:. A Taxpayer Identification Number There are two numbers you could use for this, depending on how your business is set up. Revenue and expenses This is the part where you enter how much money your business makes and how much your outgoings were to run your business. Business credit history In most cases, your small business credit card would be guaranteed by you personally and not the business itself.
Check out the following guides to applying for small-business cards for issuer-specific strategies:. Related: 5 ways you might be eligible for a business credit card without realizing it. Business credit is similar to your personal credit in that it allows potential creditors to judge what kind of credit risk your business poses.
Having business credit helps keep your business and personal finances from affecting each other in the long run. An important thing to remember when considering both business and personal credit is that making payments on time is crucial to avoid damaging your credit score.
Credit reporting bureaus are companies that generate both business and personal credit scores. For personal credit, the main bureaus are Equifax, Experian and TransUnion. Credit scoring systems differ for business and personal credit. Getting access to your personal credit score is relatively easy. Federal law entitles you to a copy of your credit report once every 12 months from each of the main three bureaus, for free.
Related: Credit card showdown: Amex Platinum vs. Amex Business Platinum. Additionally, each card has a different credit check process during application. For small-business owners of credit cards, the business owner is personally responsible for paying the debt.
This means that should the company run into financial difficulties; it would not fall on the owner s to pay the debt. The credit history for only the business and not the owners is the only requirement for credit checks. To view actual scores and ratings and learn about what industries are purchasing your D and B file, we recommend that you upgrade to one of our business credit monitoring or credit building solutions. Related: The best no-annual-fee business credit cards.
Yes, but you should take into account your specific business needs. If your business cycle is a few months between incurring the expenses and receiving payment from a customer, a business loan may be a more cost-effective solution.
Related reading: Small-business credit card vs. Either an EIN or Social Security number will be required to prove which entity will be guaranteeing the debt. For rates and fees of the Business Platinum Card, please click here. For rates and fees of the Hilton Honors Business Amex, please click here. For rates and fees of the Marriott Bonvoy Business card, click here.
For rates and fees of the Blue Business Plus, please click here. For rates and fees of the Amex Business Gold, please click here. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. This site does not include all credit card companies or all available credit card offers.
Please view our advertising policy page for more information. Read our Advertiser Disclosure. Articles by Chris Dong. Chris is a reporter at The Points Guy, where he covers the intersection of credit card rewards and travel. At TPG, he writes a broad array of stories ranging from in-depth features and reports to trending travel news as it relates to loyalty, card benefits and consumer behavior. You can find his latest adventures on Instagram here. Read More by Chris Dong.
Wilson Close Close Contributor Tooltip. Wilson is a senior editor for TPG, where she does recruiting, handles internal training and mentors our interns and young writers. She does media appearances for TPG and will bring her insights to the site with aviation and travel features. Known as the Aviation Queen, she's a veteran aviation journalist who has covered airports, security and the airline passenger experience.
Best for travel perks. Read more: Amex Blue Cash Everyday card review. While many people spend enough in the bonus categories to make the Blue Cash Preferred the better option, this remains a decent card for anyone who's strictly opposed to paying an annual fee. You'll earn cash back on the purchase, which you can put right towards paying it off. Disclosure: This post is brought to you by the Personal Finance Insider team.
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Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available. Disclosure: This post may highlight financial products and services that can help you make smarter decisions with your money. What you decide to do with your money is up to you. For you. World globe An icon of the world globe, indicating different international options.
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All other purchases made with this American Express small business card are worth 1 point per dollar. Plus, members also receive access to Amex Offers for shopping, dining, travel, and more.
Enrollment required. With this card, you have the opportunity to finance big purchases for well over a year before you have to worry about interest kicking in. Plus, you can still take advantage of a rewards program without worrying about an annual fee, some of which can be pretty lofty. Another feature that sets this card apart from some of the other Amex business cards is the Expanded Buying Power option. With this feature, you can make necessary purchases even if they exceed your credit limit without facing penalties.
In addition, with the Plum card, you can choose your billing cycle, opting for the beginning, middle, or end of the month — a great option to help you spread your expenses out over the course of the month. Further, this card, like the Blue Business Plus card offers the Expanded Buying Power feature, which allows you to temporarily exceed your existing credit limit.
Cardmembers can earn 3 Miles on every dollar spent on eligible purchases made directly with Delta and on every eligible dollar spent on purchases made directly with hotels. Earn 1. And, in some cases, your benefits will extend to up to nine guests. Earn 2 Miles on every dollar spent on eligible purchases made directly with Delta, on every dollar spent on eligible U.
Earn 1 Mile on every eligible dollar spent on purchases. It also offers some of the same points, like priority boarding, a bag-check waiver, and inflight savings. Who is it good for? In other words, this may be a good supplemental travel rewards card. Learn More. Earn 6x points at hotels participating in the Marriott Bonvoy TM program. Cardholders will be able to take advantage of an annual Free Night Award, complimentary Silver Elite Status, and credit for 15 nights a year towards the next Elite status level.
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