The Best Credit Cards for Small Businesses 2024

Just because your side gig or business is still in the parent’s-basement-startup phase, doesn’t mean you have to act like it. You may be surprised, but in most cases, you can apply for a small business credit card with just your Social Security Number (SSN).

Small business credit cards offer a wide range of benefits. Whether you want to earn and redeem cash back, increase short-term cash flow without taking out a loan, build business credit or enjoy generous travel perks, a small business credit card can make it happen.

Let’s look at the best credit cards for small businesses, their pros, cons and important considerations to make along the way.

Top Small Business Credit Cards for 2024

Here’s an overview of some of the best business credit cards for small businesses. Of course, not every single business card is included in this round-up. Rather, we’ve narrowed the selection down to some of the most generous business cards.

Ink Business Cash® Credit Card

The Ink Business Cash® Credit Card offers generous cash back earnings on typical business expenses.

You’d be hard pressed to find another card earning 5% cash back on office supply store, internet, cable and phone service purchases (on up to the first $25,000 in combined purchases per account anniversary year).

With a $0 annual fee, the Chase Ink Cash card is an easy one to keep in your wallet for bonus cash back earnings.

Pros

• 5% cash back on the first $25,000 spent in combined purchases on office supply store, internet, cable and phone service purchases (every account anniversary year)
• 2% cash back on the first $25,000 spent in combined purchases at restaurants and gas stations (per account anniversary year)
• 1% unlimited cash back on all other purchases
• 5% cash back on Lyft rides (until March 2025)
• Purchase and travel protections
• Ability to issue employee cards and set spending limits at no additional cost

Cons

• 3% foreign transaction fee
• Bonus cash back earnings are capped

Ink Business Preferred® Credit Card

The Ink Business Preferred® Credit Card can earn you up to 3X points on a variety of expenses shared by almost all businesses (on the first $150,000 spent in combined purchases per account anniversary year).

It’s also free of foreign transaction fees, making it perfect for paying international vendors or for traveling abroad.

As this is an Ultimate Rewards earning card, business travelers can transfer their points at 1:1 ratios to Chase’s wide variety of partner hotel and airline loyalty programs.

For a low annual fee of $95, the Chase Ink Preferred offers significant value for the majority of businesses.

Pros

• 3X points on the first $150,000 spent in combined purchases (per account anniversary year) in the following categories: shipping purchases, advertising purchases made with search engines and social media sites, internet, cable, phone services, and travel
• 1X points on all other purchases
• Points redeemed for 25% more value through travel purchased via Chase Ultimate Rewards
• 5X points on Lyft rides (until March 2025)
• Ability to issue employee cards and set spending limits at no additional cost
• Zero foreign transaction fees
• Travel and purchase protections

Cons

• Its welcome bonus typically requires a high minimum spending threshold
• 3X point earning is capped at $150,000 in purchases

American Express® Business Gold Card

The American Express® Business Gold Card rewards you on the purchases you make most often.

You can earn 4X points on the first $150,000 in combined purchases (1X point thereafter) on your top two eligible spending categories per billing cycle. These categories include a range of common business expenses, netting you a possible maximum of 600,000 points per year if you hit the $150,000 limit. This makes the American Express Business Gold Card best suited to small businesses with higher expenditure.

Membership Rewards points can be transferred to a range of partner airline and hotel loyalty programs for lucrative business traveler redemptions.

For an annual fee of $375, this card can reward high spenders.

Pros

• 4X points on the top two categories your business spends the most on in each billing cycle from the following categories (up to $150,000 in combined purchases, then 1X points thereafter):
  • Purchases at US media providers for advertising online, on TV and on radio
  • Purchases made from U.S. electronic goods retailers, software and cloud system providers
  • Purchases at U.S. restaurants, including takeout and delivery
  • Purchases at U.S. gas stations
  • Transit purchases including trains, ferries, tolls, parking, taxicabs, rideshare services, buses and subways
  • Monthly wireless telephone service charges made directly from a U.S. wireless telephone service provider
• 3X points on flights and prepaid hotels, as well as prepaid flight and hotel packages when booked through amextravel.com
• 1X point on all other purchases
• Up to $240 annual statement credit, given in $20 monthly credits, for eligible U.S. purchases at FedEx, Grubhub and Office Supply Stores (enrollment required)
• Up to $155 annual statement credit, given in $12.95 monthly credits, for Walmart+ membership
• No foreign transaction fees (rates & fees).
• Book The Hotel Collection with American Express Travel and receive a $100 experience credit or room upgrade upon check-in at participating properties (subject to availability and property) when you stay at least two consecutive nights

Cons

• $95 annual fee for the first five Employee Business Gold cards; $95 per card thereafter, up to 99 cards.

Capital One Venture X Business

The Capital One Venture X Business card offers premium travel benefits and generous earnings for your business.

This card earns a flat rate of 2X miles on all non-bonus category spending. That makes it the perfect business card for business expenses that fall outside of typical bonus categories.

Additionally, the Venture X card offers a $120 Global Entry fee statement credit every four years or $85 TSA PreCheck® fee statement credit every 4.5 years, as well as complimentary Priority Pass Select™ membership for you and up to two guests. You’ll also enjoy a $300 annual statement credit for travel purchases made through Capital One Travel, as well as a 10,000 bonus mile boost every account anniversary year. This makes it an excellent card for the business traveler.

Capital One has a range of transfer partner airline and hotel loyalty programs, the majority of which you can transfer miles to at a 1:1 ratio.

Just keep in mind that this is a charge card, meaning you can’t carry a balance (though we never recommend carrying a balance).

For an annual fee of $395, the travel perks and rewards offered by this business card can more than offset its fees.

Pros

• 10X miles on hotels and cars booked through Capital One Travel
• 5X miles on flights and vacation rentals
• 2X miles on all other purchases
• $300 annual statement credit for travel purchases made through Capital One Travel
• 10,000 bonus miles every account anniversary year
• $120 Global Entry fee statement credit every four years or $85 TSA PreCheck® fee statement credit every 4.5 years
• Complimentary Priority Pass Select ™ membership for you and up to two guests
• Ability to issue employee cards and set spending limits
• No foreign transaction fees

Cons

• $300 annual statement credit is only redeemable for travel purchased through Capital One Travel

Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card is a solid business card for earning cash back on all purchases.

You’ll earn a flat rate of 1.5% cash back on every purchase, making it perfect for purchases that fall outside of typical bonus spending categories.

On top of that, you’re earning cash back in the form of Chase Ultimate Rewards, which you can transfer to an Ultimate Rewards card such as the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card to use for higher value redemptions or to transfer to airline and hotel partners.

For a $0 annual fee, this is an easy business card to keep in your wallet.

Pros

• 1.5% unlimited cash back on all purchases
• 5% cash back on Lyft rides (until March 2025)
• Ability to issue employee cards and set spending limits free of charge

Cons

• Foreign transaction fee of 3%
• No bonus spending categories

The Business Platinum Card® from American Express

The Business Platinum Card® from American Express is unbeatable when it comes to luxury travel benefits.

With complimentary elite status for both Hilton and Marriott, rental car privileges (enrollment required) and access to 1,400+ lounges in The American Express Global Lounge Collection, you’ll be guaranteed luxury every time you travel. Likewise, with application fee reimbursements (given in statement credits) for CLEAR® Plus as well as for either Global Entry or TSA PreCheck, you’ll speed through security and immigration on domestic and international flights.

This card also offers more than $1,000 worth of statement credits for purchases in key business categories.

While the Business Platinum card’s annual fee of $695 is significant, it offers more than double back in rewards and perks.

Pros

• 5X points on prepaid hotels and flights booked through amextravel.com
• 1.5X points on key business categories (U.S. construction material and hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers) as well as on eligible purchases of $5,000 or more everywhere else (on up to $2 million in purchases per calendar year; 1X points thereafter)
• 1X points on all other purchases
• Up to $400 statement credit for Dell technology purchases, given in semi-annual $200 statement credits (enrollment required)
• Up to $360 statement credit for Indeed purchases, given in quarterly statement credits of $90
• Up to $150 statement credit for eligible annual prepaid business plan purchases with Adobe on Creative Cloud for teams or Acrobat Pro DC with e-sign for teams
• $120 statement credit for U.S. wireless telephone service provider purchases, given in monthly statement credits of $10
• Complimentary access to The American Express Global Lounge Collection
• Complimentary Marriott Bonvoy™ Gold Elite Status (enrollment required)
• Complimentary Hilton Honors Gold Elite Status (enrollment required)
• Access to benefits with the Fine Hotels + Resorts Program
• $200 statement credit toward incidental fees with one qualifying airline
• $199 statement credit toward CLEAR® Plus membership fees
• Either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your American Express Card. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Premium rental car privileges (enrollment required)
• No foreign transaction fees

Cons

• High annual fee
• Limited bonus spending categories

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a competitive business card for flexible cash back earnings.

You can earn up to 3% cash back on the eligible business category of your choice, as well as 2% cash back on dining purchases. If the value of combined purchases for the 3% and 2% categories exceeds $50,000, you’ll earn 1% cash back thereafter for the remainder of the year.

This makes it a highly flexible business card, allowing you to offset expenses where you spend the most.

For a $0 annual fee card, this business card offers significant value.

Pros

• 3% cash back on the eligible category of your choice, between the following: gas stations and EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services
• 2% cash back on dining
• 1% unlimited cash back on all other purchases

Cons

• Maximum cap of $50,000 in combined purchases for the 3% and 2% categories, earn 1% only thereafter
• Foreign transaction fee of 3%

The Blue Business® Plus Credit Card from American Express

The Blue Business® Plus Credit Card from American Express is a great option for small businesses spending less than $50,000 per year on business expenses.

With this card, you’ll earn 2X Membership Rewards points on the first $50,000 spent per calendar year (1X points thereafter). Amex points are transferable to a range of hotel and airline partners at 1:1 transfer ratios, making them extremely valuable.

For a $0 annual fee, this business card earns you a valuable rewards currency on all eligible business expenses.

Pros

• 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.

Cons

• Foreign transaction fee of 3%

Alaska Airlines Visa® Business Card

If you fly frequently with Alaska Airlines, the Alaska Airlines Visa® Business Card could be massively rewarding.

When you pay for your flight using your Alaska Airlines business card, you and up to six guests on the same reservation will receive a checked bag. You’ll also receive priority boarding, and enjoy 20% back on in-flight purchases made on Alaska flights.

One of the top perks of this card is that if you charge $6,000 or more in purchases within the prior anniversary year on your card, you can receive Alaska’s renowned Companion Fare™. This allows you to bring a companion with you on Alaska flights for only $99 (plus taxes and fees starting from $23).

For an annual fee of only $70, this card is perfect if you frequently fly with Alaska.

Pros

• 3X miles on purchases with Alaska Airlines
• 2X miles on eligible gas, EV charging station, shipping and local transit (including rideshare) purchases
• 1X miles on all other purchases
• A 10% rewards bonus on all miles earned from card purchases when your company has an eligible Bank of America® small business account
• 20% back on in-flight purchases made on Alaska flights
• $100 discount on Alaska Lounge+ Membership
• Earn Alaska’s famous Companion Fare™ ($99 fare plus taxes and fees from $23) each account anniversary after charging $6,000 or more in purchases within the prior anniversary year on your card
• Free checked bag for all cardholders and up to six guests on the same reservation when you pay for your flight using your business card
• Priority boarding when you pay for your flight using your business card
• No foreign transaction fee

Cons

• $25 per employee card

Southwest® Rapid Rewards® Performance Business Credit Card

For frequent flyers with Southwest Airlines, the Southwest® Rapid Rewards® Performance Business Credit Card offers excellent value.

You can earn Rapid Rewards on a range of key business purchases, as well as enjoy certain perks when you fly Southwest, such as Wi-Fi credits and upgraded boardings.

You’ll also benefit from a statement credit every four years to reimburse the application fees for either Global Entry, TSA PreCheck or NEXUS membership.

Opening this Southwest business card is a key part of the strategy for earning the coveted Southwest Companion Pass, which allows your designated companion to fly for just $5.60 in taxes for an unlimited number of times within the year you earn it plus the following calendar year.

Overall, for a reasonable annual fee of $199, frequent flyers with Southwest will enjoy the many perks this business card offers.

Pros

• 4X points on Southwest Airlines purchases
• 3X points on Rapid Rewards hotel and car rental partner purchases
• 2X points on social media and search engine advertising, internet, cable and phone services
• 2X points on local transit and commuting, including rideshare services
• 1X points on everyday purchases
• 9,000 point bonus after every cardmember anniversary year
• Up to 365 in-flight Wi-Fi credits per year
• Four upgraded boardings per year (subject to availability)
• $120 Global Entry statement credit, $85 TSA PreCheck statement credit or $50 NEXUS statement credit every four years
• No foreign transaction fees
• Ability to issue employee cards and set spending limits free of charge

Cons

• No free checked bags

United℠ Business Card

If you fly frequently with United Airlines, the United^SM Business Card could be a great fit for your wallet.

Aside from earning miles on a range of purchase categories, you’ll enjoy an array of United-specific benefits. For example, your first checked bag will fly free on United flights, you’ll enjoy priority boarding, you’ll get 25% back on United in-flight and Club premium drink purchases, and you’ll receive two one-time United Club^SM passes per year.

For an annual fee of $99 which is waived in the first year, frequent flyers with United will reap massive rewards with this business card.

Pros

• 2X miles on purchases from United Airlines (including but not limited to: tickets, Economy Plus® fares, in-flight food, beverages and Wi-Fi)
• 2X miles on dining, including eligible delivery services
• 2X miles at gas stations, office supply stores, and on local transit and commuting
• 1X miles on all other purchases
• First checked bag flies for free
• $100 United travel credit after qualifying flight purchases
• 5,000 better-together anniversary bonus miles when you have the United^SM Business Card and a personal United credit card
• Earn up to 1,000 Premier qualifying points (PQP). You’ll earn 500 PQP for every $12,000 you spend on purchases with your card (up to 1,000 PQP in a calendar year) that can be applied toward your Premier status (up to the Premier 1K^® level).
• Two United Club^SM one-time passes each year
• 25% back on United in-flight and Club premium drink purchases
• Priority boarding
• Ability to issue employee cards and set spending limits
• No foreign transaction fees
• Enjoy premium benefits when you book with The Luxury Hotel & Resort Collection using your card

Cons

• Limited earnings on business-specific expenses

The Hilton Honors American Express Business Card

The Hilton Honors American Express Business Card is ideal for frequent guests at Hilton properties.

You’ll earn bonus points on a range of purchase categories, not limited to just Hilton.

If you’re a frequent guest at Hilton properties, offsetting this business card’s annual fee of $195 will be easy.

Pros

• 12X points for purchases at properties in the Hilton portfolio
• 5X points on other purchases  on the first $100,000 in purchases each calendar year
  
• 3X points on all other eligible purchases
• Spend $40,000 on eligible purchases using your card in a calendar year, and earn an upgrade to Hilton Honors™ Diamond status (through the end of the next calendar year).
• No foreign transaction fees

Cons

• No elite travel perks

What Are Small Business Credit Cards?

Small business credit cards are much like personal credit cards, insofar as they reward your spending through cash back, points or miles. However, business credit cards earn you points on business-specific bonus spending categories and offer business-oriented perks, such as statement credits for office supplies and a range of integrated expense management tools. Business credit cards also typically come with higher spending limits.

Business credit cards can help you build your business credit score as well as provide short-term financing, preventing you from having to take out a loan.

Depending on your business needs, it might be beneficial to hold more than one business credit card, to earn points on a wider range of bonus spending categories.

How Do Business Credit Cards Work?

There are two types of business credit cards available: small business credit cards and corporate credit cards.

Corporate credit cards are issued to the business entity, making the business responsible for paying all the charges made to the card, rather than the business owner. Corporate cards are normally issued to large or incorporated businesses with robust business credit scores, high revenue and cash reserves.

In contrast, small business credit cards are designed for smaller scale businesses, such as sole proprietorships and freelancers. That means if you have a side gig, you may be eligible to apply for a small business credit card. It also means that you won’t need to provide an Employer Identification Number (EIN) during the application process. Instead, your SSN will suffice, and your personal credit score will be used to determine your eligibility.

While this opens up the world of small business credit cards to almost anyone who can qualify as a freelancer or sole proprietor, it’s important to understand the implications of doing so.

Unlike corporate cards, small business credit cards are issued in the name of the business owner rather than the business entity. This requires you to sign a personal guarantee, which is a legally binding agreement making you responsible for paying all debt in the event that your business is unable to.

Likewise, failing to pay your business card balance on time will affect your personal credit score, which could have negative repercussions on your personal finances. That counts for paying the balance on your employees’s card expenditure too.

Pros and Cons of Credit Cards for Small Businesses

Small business credit cards come with a host of benefits, including the following:

• Earn points, miles and cash back on business expenses. Instead of letting thousands of dollars in business expenses go to waste every year, you could earn a return to offset the upfront cost of your expenditure. You can then redeem your earnings for cash back or travel redemptions.
• Access business perks. Consumer cards come with consumer perks. Business cards can offer you perks that will help your business, from statement credits on technology and office supplies, to integration with expense management tools for accounting, employee cards and more.
• Higher credit limits. Business credit cards often offer higher credit limits. This will enable you to spend more without your credit utilization ratio skyrocketing.
• Separate personal and business expenses. Having business expenses on one set of card statements and personal expenses on another will make your life (or your accountant’s life) much easier come tax season.
• Short-term financing. If you’re tight on funds in the short-term, using a business credit card to finance business transactions can be easier and cheaper than taking out a small business loan from a bank. Just remember to always pay your balance in full.
• Build your business credit score. If you connect your EIN or Data Universal Numbering System (DUNS) number to your account, you’ll be able to build your business credit score. This will increase the creditworthiness of your business while protecting your personal credit score.

Despite this wide array of benefits, it’s important to be aware of some of the risks and drawbacks associated with small business credit cards.

• Good to excellent credit scores are required. If your personal credit score is on the lower end of the spectrum, it’ll be a challenge to get a small business credit card. In most instances, you’ll be restricted to secured business cards with mandatory security deposits.
• Less protection. Many of the consumer protections under the Credit CARD Act of 2009 don’t apply to business credit cards, such as those regarding fees and rules.
• Personal liability. Unlike corporate cards, small business credit cards make you liable for any business debt on the card. This can affect your personal finances and credit score in the worst case.
• You’re responsible for employee spending. On the topic of personal liability, keep in mind that you’re responsible for paying off any debt on your employee’s cards. This is where setting spending limits can come in handy.

How to Choose a Small Business Credit Card

Just as with selecting a personal credit card, finding the best small business credit card begins with analyzing your expenditure.

What are your business’s most frequent spending categories?

Business credit cards earn you bonus points, miles or cash back on certain spending categories. That means you should prioritize cards that offer your most frequent spending categories as bonus categories. That way, you’ll earn the greatest return possible on your spending.

Similarly, you want to select a card that earns you rewards that are of the greatest value to you and your business. For example, if you’re simply looking to offset the cost of your business expenditure, a simple cash back rewards card will do the job. However, if you’re wanting to redeem your points for discounted travel purchases, such as flights or hotel stays, then a credit card that earns transferrable rewards or specific airline/hotel loyalty scheme points will be your best bet.

You also want to consider the additional features and perks offered by prospective business cards to ensure they align with your habits and goals. These could be anything from statement credits for certain business purchases to airport lounge access. Having perks you’ll actually use will enable you to offset annual fees with greater ease.

Lastly, calculate the potential return value you can earn from prospective cards. As long as your return value is greater than the annual fee, the card offers value to you and your business.

How to Get a Business Credit Card

You’ll first want to consider your eligibility when applying for a business credit card.

Even if you just have a side gig or are a freelancer, you’ll most likely be able to qualify for a business credit card.

However, it’s important to understand that if your business is new and you’re applying with your SSN, you’ll need to have a strong personal credit score to be approved for premium business cards.

If you’ve had your business for a while and have significant revenue and assets, getting a card will likely prove easier.

You’ll want to select a card that best suits your business spending habits and needs. Opening a business card with a bank you’re already a customer of can improve your chances of approval.

To apply for a small business credit card, you’ll need to provide the following personal and business related details:

• Personal information
• Business name (you can use your name if your business is unnamed)
• Business address
• Business structure, description and industry
• Your EIN and/or SSN
• Annual revenue and expenses
• Number of employees

In most cases, you’ll also need to sign a guarantee that you agree to be personally liable for all debt on the business card.

Keep in mind that an EIN isn’t necessary as your SSN can take its place in most instances. That being said, if you want to build your business credit score, you’ll need to have either an EIN or DUNS number. A DUNS number is a nine-digit identification number given to your business by Dun & Bradstreet (D&B), one of the three major business credit bureaus, enabling your business credit history to be tracked.

FAQs

Here are the answers to some FAQs about the best business cards for small business owners.

What’s the difference between a small business credit card and a corporate credit card?

You can apply for a small business credit card as a freelancer or sole proprietor using your SSN. Your personal credit score will be used in assessing your eligibility and you’ll be liable for paying off any debt your business is unable to pay.

In contrast, a corporate card is issued in the name of your business and is designed for businesses with significant revenue, assets, employees and size. That means you won’t be personally liable for paying off business debt. Corporate cards often require certain revenue and bank account minimums.

Do I need an EIN to get a business credit card?

No, you don’t need an EIN to get a business credit card. You can apply using your SSN in place of your EIN.

Will a business credit card affect my personal credit score and history?

If you apply for a business credit card using your SSN, your personal credit score will receive a hard inquiry during the application process, which could temporarily decrease it by a few points. However, if you apply for a DUNS number, you’ll be able to have your business card expenditure build your business credit score. That being said, it depends on the card issuer. Some card issuers will report your business card activity to both consumer and business credit bureaus, while others will report to the latter only.

Can I use a business credit card for personal purposes?

Business credit cards should be used for business expenses only. This stipulation can be found in the terms and conditions of almost every business credit card.

Business credit cards often don’t come with the same protections as consumer cards, putting you at greater liability risk when using your business card for personal expenses.

Similarly, using a business credit card for business expenses exclusively makes tax season far easier, as you won’t have to waste time separating personal and business charges on your statements.

How can I build or improve my business credit using a credit card?

To build your business credit score, you’ll need to officially register your business and request either an EIN or DUNS number. With either of these numbers, business credit bureaus will be able to identify your business. From here, it’s important to always pay your balance on time and keep your credit utilization ratio low. Using this method, your business credit score will improve steadily over time.

What is the easiest business credit card to get?

Your best choice for a business credit card for your new small business will vary depending on your personal credit score. If your business is just starting out, or perhaps you personal credit score is less than perfect, a secured card such as the Bank of America Business Advantage Unlimited Cash Rewards Secured Credit Card or a card that doesn’t take credit scores into account such as the Brex Business Card could be easier to get approval for.

Ready to Elevate Your Business Finances?

As with consumer credit cards, the best business cards are the ones that suit your business needs and expenditure. Selecting a business card based on these factors will give you the greatest return and the ability to offset annual fees with greater ease.

Business cards can help your business grow by rewarding you for spending money on the things you need, providing short-term financing and building your business credit. Just be sure to always pay your balance in full on time to avoid high APR, late fees and hits to your credit score. Likewise, ensure you understand the full implications of signing a personal guarantee.

Once you’re equipped with your very own small business credit card, keep up with 10xTravel for the latest tips and advice on maximizing your points.