The best business credit cards for 2022 are used to give your company cash back, points or miles depending on what you need. The credit card issuer offers special incentives to business owners who use their card often and pay the balance off every month. Before applying for a small business credit card it is important that you understand how interest rates work and the best time to apply. There are also cards that reward business owners for their loyalty and good payment history.
Most of these small business credit cards offer benefits like point accumulation systems where you can accumulate points to use towards travel or merchandise. You may also take advantage of free employee cards to help your employees purchase supplies, equipment and more on behalf of your company so you can receive points for their spending as well.
When choosing the best business credit card it is important to consider what benefits are most important to your company. If you travel often for business then you may want to look into cards that offer airline miles or travel rewards. If you are looking for a card that offers cash back then you want to look at cards that offer 1.5% cash back or higher on the purchases your company makes every month. The best business credit cards can offer 3% to 5% in rewards depending on what you need most from your card.
Make sure to consider the fees associated with the card as well. Some credit cards charge a fee for late payment or going over your limit, so make sure you understand what the fees are before applying if you don’t want to incur those extra charges. You may also be required to pay an annual fee each year that you own the account. Make sure that any reward program is worth it before you apply.
You may also want to consider choosing a card with low interest rates. The best business credit cards can offer very low rates, sometimes as low as 5%. Make sure your company is moving forward financially before looking at these low rate products though because they do require good credit for approval. Cards that have high interest rates are harder to get, even for some large companies.
The best business credit cards may not offer low rates but they do offer some incentives that other companies do not. It is important to go over the fine print on any of these credit cards before applying because you want to make sure it will work for your specific situation. If you are looking at the best business credit cards ask yourself if you are spending enough to make it worth your while. If the answer is no then consider waiting until you do spend more before applying for one of these credit cards.
If your company wants to apply for a small business credit card, the following list contains some of the best business credit cards available today:
- Chase Ink Preferred. This card comes with 80,000 bonus points if you spend $5,000 in the first 3 months of opening your account. You can earn 2X points on travel and shipping and receive a $600 annual air travel credit. This is one of the best business credit cards because there are no foreign transaction fees and you get $95 cash back if you spend $5,000 in the first 3 months. The annual fee is $95 and there is a 19.24% – 24.24% variable APR.
- Chase Ink Cash card: This credit card comes with 50,000 bonus points after spending $3,000 in qualifying purchases within the first 3 months of opening your account. The 2X points on the first $25,000 spent at office supply stores and on phone, internet and cable services each year is an added bonus for this card. There are no foreign transaction fees with this credit card either which sets it apart from many others. If you spend $3,000 within the first 3 months of opening your account you will receive a $200 cash bonus. The annual fee is $0 and there is a 19.24% – 24.24% variable APR.
- Blue Business Plus Credit Card from American Express: This card has no annual fee and provides 2X points on every purchase you make with your business credit card. There is no limit to the points you can earn and you get a 10% point bonus every time your company spends $5,000 on purchases using this card annually.
- Amex EveryDay Preferred Card: This card has a 0% introductory APR for 12 months on balance transfers and purchase transactions as well as 15 months with 1.99% APR after that. It gives 1.5X points on every purchase you make with your business credit card and also offers an additional 50% bonus if you make 30 or more purchases each month using the card.
- Chase Sapphire Preferred Card: This is one of the best business credit cards for travel because it comes with 2X points on travel and dining at restaurants as well as 1 point for every dollar spent. Get 40,000 bonus points when you spend $3,000 in purchase transactions within the first 3 months of opening your account. The annual fee is $95 and there is a 19.24% – 24.24% variable APR. There are also no foreign transaction fees.
- CitiBusiness®/ AAdvantage® Platinum Select® World MasterCard®: If your business spends a lot of money on travel you can get bonus miles with this credit card. You also receive 10,000 bonus miles if you spend $1,000 in the first 3 months of signing up for the credit card. There is no annual fee on this card for the first year.
- Disney Rewards Visa® Card: If your company does business with Disney this card comes with a low APR of 11.99% – 20.99%. You also get to choose one free character photo frame annually and receive 10% off birthday party packages at all Disney locations. There is a 0% APR promotional offer on purchases and balance transfers for 15 months.
- Citi ® Double Cash Card: With this card you will earn 1% cash back when you make a purchase and another 1% cash back when you make the payment of that purchase. This makes it one of the best business credit cards if your company spends a lot on everyday purchases. There is no annual fee and your APR for all purchase and balance transfer transactions will be 0% for 18 months.