Business owners have the opportunity to maximize their everyday business expenses by using the right credit card. The best business credit cards offer valuable rewards, financing offers, and other benefits at a reasonable cost. When choosing a credit card for your business, consider factors such as your monthly spending, the categories you spend the most in, the type of rewards you want, your credit score, and whether you are willing to pay an annual fee. Here are the top 6 business credit cards for 2024, selected based on their features and benefits for different customer profiles.
Top 6 Business Credit Cards In 2024
Key Takeaways:
- Choosing the right business credit card can help maximize rewards and benefits for your business expenses.
- Consider factors such as monthly spending, reward preferences, and credit score when selecting a business credit card.
- The top 6 business credit cards for 2024 offer a range of options for different customer profiles.
- Options include unlimited cash back, rewards, travel benefits, no annual fees, introductory APR offers, and rebuilding bad credit.
- Evaluate your spending habits, reward preferences, and financial goals to find the best credit card for your business needs.
Best for Unlimited Cash Back: Capital One Spark Cash Select for Excellent Credit
The Capital One Spark Cash Select for Excellent Credit is the best option for unlimited cash back. With this card, you can earn an unlimited 1.5% cash back on every purchase you make. There are no bonus categories or spending caps to worry about, allowing you to focus on earning generous cash back rewards on all your business expenses.
Additionally, the card offers free management tools, including virtual card numbers, downloadable account history, and lists of recurring transactions. You can also add account managers and employee cards to earn additional rewards. The card has no foreign transaction fees and offers an extended warranty on eligible transactions at no extra cost.
Card Features:
| Card Benefits | Details |
|---|---|
| Unlimited Cash Back | Earn 1.5% cash back on all purchases. |
| Maintenance Tools | Access virtual card numbers, downloadable account history, and recurring transaction lists. |
| Additional Cardholders | Add account managers and employee cards to earn extra rewards. |
| No Foreign Transaction Fees | Make international purchases without extra charges. |
| Extended Warranty | Benefit from an extended warranty on eligible transactions. |
Best for Rewards: Capital One Venture X Business
The Capital One Venture X Business is the top choice for businesses looking to maximize their rewards. With this small business credit card, you have the opportunity to earn 2x miles on every purchase or up to 10x miles when booking reservations through Capital One Travel. Whether you’re spending on inventory, supplies, or travel expenses, this card allows you to earn valuable rewards on every transaction.
What sets the Capital One Venture X Business card apart is its flexibility. There’s no preset spending limit, giving you the freedom to make larger purchases for your business. However, keep in mind that the card requires full payment each month to avoid interest charges.
Despite an annual fee, this business credit card offers significant benefits that make it worth considering. You can enjoy a $300 annual travel credit when booking through Capital One Travel, effectively reducing the cost of your business travel. Additionally, the card provides 10,000 bonus miles each year upon card renewal, giving you an extra boost towards your rewards.
The Capital One Venture X Business card goes beyond just earning miles. It offers additional perks such as TSA PreCheck or Global Entry reimbursement, helping you save time at the airport. Access to airport lounges ensures a comfortable and productive travel experience. Furthermore, the option to transfer miles to airline and hotel partners opens up opportunities for even greater value when redeeming your rewards.
By choosing the Capital One Venture X Business card, you can enjoy competitive rewards and benefits that add value to your business expenses. Whether it’s earning miles on purchases, taking advantage of travel credits, or accessing travel perks, this card provides a comprehensive rewards solution for your business needs.
Best for Travel: The Business Platinum Card from American Express
The Business Platinum Card from American Express is the ultimate travel credit card for business owners. It offers an array of benefits designed to enhance your travel experience and provide exceptional value.
When it comes to earning rewards, the Business Platinum Card excels. You can earn 5x points on flights and prepaid hotels booked through Amex Travel. Additionally, you earn 1.5x points in key business categories or on purchases of $5,000 or more. For all other purchases, you still earn 1x points per dollar spent.
What sets the Business Platinum Card apart from its competitors is the flexibility it offers in redeeming your rewards. You can use your points to book travel, shop online, receive statement credits, or transfer them to airline and hotel partners.
Furthermore, the Business Platinum Card comes with valuable perks that make your travel experience more enjoyable. When booking flights through Amex Travel, you receive a 35% points rebate, adding even more value to your rewards. This card also provides over $1,000 in business value, including access to airport lounges, saving you time and providing a relaxing environment before your flight.
While the Business Platinum Card does come with an annual fee, the benefits and travel protections it offers far outweigh the cost. With this card, you can travel with peace of mind, knowing that you are protected against unexpected events and have access to exclusive perks.
| Benefits | Details |
|---|---|
| 5x Points | Earn 5x points on flights and prepaid hotels booked through Amex Travel |
| 1.5x Points | Earn 1.5x points in key business categories or on purchases of $5,000 or more |
| Flexible Redemption | Redeem points for travel, online shopping, statement credits, or transfer to airline and hotel partners |
| 35% Points Rebate | Receive a 35% points rebate when booking flights through Amex Travel |
| Exclusive Perks | Access to airport lounges and over $1,000 in business value |
Best for Small Business: Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is the top choice for small businesses. It offers 3x points on common business spending categories such as shipping, online advertising, travel, and internet, cable, and phone services. You can earn 3x points on the first $150,000 spent in these categories each year and 1x points on all other purchases.
Points can be redeemed for travel, cash back, gift cards, and more. When booking travel through Chase, points are worth 25% more, making the welcome bonus of the card worth $1,250 in travel.
The card has an annual fee but provides travel, purchase, and cellphone protections.
| Key Features | Advantages | Rates & Fees |
|---|---|---|
|
|
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With its generous rewards and the ability to earn 3x points on essential business expenses, the Ink Business Preferred® Credit Card is an ideal choice for small businesses. The card’s flexible redemption options and additional value for travel bookings provide added flexibility and savings. Although it has an annual fee, the card’s travel, purchase, and cellphone protections can help safeguard your business transactions.
Best for No Annual Fee: Ink Business Unlimited® Credit Card
The Ink Business Unlimited® Credit Card is the perfect choice for small business owners who want a credit card with no annual fee. With this card, you can earn unlimited 1.5% cash back on every purchase you make for your business. Whether you’re buying office supplies, paying for advertising, or covering travel expenses, you’ll be rewarded with cash back that can be used for various purposes.
Through Chase Ultimate Rewards, you can redeem your earned rewards for travel, statement credits, gift cards, and more. This gives you the flexibility to use your rewards in a way that best suits your business needs. Plus, with no limit on how much cash back you can earn, you’ll continue to benefit from your spending.
Not only does the Ink Business Unlimited® Credit Card have no annual fee, but it also offers an introductory APR period. This means you have extra time to pay off your balance without accruing interest charges. It’s a great option for managing your cash flow and keeping your business finances under control.
Key Features:
- Unlimited 1.5% cash back on all business-related purchases
- No annual fee
- Introductory APR period
- Redeem rewards for travel, statement credits, gift cards, and more through Chase Ultimate Rewards
- Primary rental car coverage
- Purchase protection
- Extended warranty on eligible purchases
“As a small business owner, it’s important to maximize the benefits of every dollar you spend. The Ink Business Unlimited® Credit Card offers no annual fee and unlimited cash back on every purchase, making it the ideal choice for budget-conscious entrepreneurs.” – Jane Smith, Small Business Owner
Best for 0% Intro APR Offer: U.S. Bank Triple Cash Rewards Visa Business Card
The U.S. Bank Triple Cash Rewards Visa Business Card is the top choice for small businesses looking for a 0% intro APR offer. With this card, you can enjoy 15 months of interest-free financing on both purchases and balance transfers, making it an excellent option for managing your business expenses without accruing interest charges. Plus, there is no annual fee, allowing you to keep your costs low.
What sets this card apart is its generous cash back rewards program. You can earn 3% cash back on essential business spending categories such as gas, office supplies, cellphone service, and dining. Additionally, you’ll earn 1% cash back on all other purchases. This rewards structure enables you to earn cash back while covering your everyday business expenses.
But the benefits don’t stop there. The U.S. Bank Triple Cash Rewards Visa Business Card offers a $100 credit on recurring software subscription services charges, further reducing your business costs. Additionally, you’ll earn 5% cash back on prepaid hotels and car rentals, which can be a significant saving for businesses that frequently travel or need to accommodate clients.
As a business owner, it’s crucial to have peace of mind when it comes to your finances. That’s why this card includes primary car rental coverage, offering protection and extra convenience for your business trips. Furthermore, it provides a range of travel and purchase protections, ensuring your business is well-covered in unexpected situations.
Overall, the U.S. Bank Triple Cash Rewards Visa Business Card is an outstanding option for small businesses. It combines the benefits of a 0% intro APR offer with a rewarding cash back program and valuable perks, making it an ideal choice for business owners who want to optimize their financial resources.
Best for Bad Credit: FNBO Business Edition® Secured Mastercard® Credit Card
The FNBO Business Edition® Secured Mastercard® Credit Card is a great option for business owners with bad credit. This card allows you to rebuild your credit while enjoying the benefits of a business credit card. By making a refundable security deposit, you can request your own credit limit ranging from $2,000 to $100,000, giving you flexibility and control over your spending.
Although the FNBO Business Edition® Secured Mastercard® Credit Card has an annual fee, it compensates with its unique feature. The security deposit made earns interest, acting as a savings account. This opportunity allows you to grow your credit and save money at the same time.
Additionally, this card provides purchase protection and an extended warranty on eligible purchases, ensuring that your business investments are safeguarded.
Key Advantages:
- Opportunity to rebuild credit
- Flexible credit limit
- Refundable security deposit
- Interest-earning security deposit
- Purchase protection and extended warranty
Comparison Table: FNBO Business Edition® Secured Mastercard® Credit Card vs. Competitors
| FNBO Business Edition® Secured Mastercard® Credit Card | Competitor 1 | Competitor 2 | |
|---|---|---|---|
| Annual Fee | $XXX | $XXX | $XXX |
| Credit Limit | $2,000 – $100,000 | $XXXX – $XXXX | $XXXX – $XXXX |
| Interest-Earning Security Deposit | Yes | No | No |
| Purchase Protection | Yes | Yes | No |
| Extended Warranty | Yes | Yes | No |
Best for Hotels: Marriott Bonvoy Business® American Express® Card
For small business owners who frequently stay at Marriott hotels, the Marriott Bonvoy Business® American Express® Card is the best choice. This card offers a range of benefits and rewards that cater specifically to hotel stays and other business expenses. Here’s why it stands out:
Earn Points for Every Purchase
With the Marriott Bonvoy Business® American Express® Card, you can earn points on every purchase you make. This includes:
- 6x points at Marriott hotels
- 4x points at U.S. restaurants, U.S. gas stations, U.S. wireless providers, and U.S. shipping services
- 2x points on all other purchases
These points can be redeemed for a wide range of rewards, including free hotel stays, flights, gift cards, and more.
Exclusive Benefits for Cardholders
As a cardholder, you’ll enjoy exclusive benefits when staying at Marriott properties. These benefits include:
- A 7% discount on standard rooms at Marriott properties
- Complimentary Marriott Bonvoy Gold status, which comes with additional perks such as late checkout and room upgrades (subject to availability)
- 15 Elite Night Credits toward elite status levels, helping you unlock even more benefits and privileges
- An annual free night worth up to 35,000 points, allowing you to enjoy a complimentary stay each year
- An additional free night when you spend $60,000 or more each year, rewarding you for your loyalty and higher spending
Travel with Peace of Mind
The Marriott Bonvoy Business® American Express® Card also offers travel-related perks and protections, giving you peace of mind during your business trips. Some of these benefits include:
- Travel accident insurance
- Baggage insurance plan
- Lost luggage reimbursement
- Car rental loss and damage insurance
| Card Features | Earn Rate | Annual Fee |
|---|---|---|
| Marriott Bonvoy Business® American Express® Card |
| $125 |
Conclusion
Choosing the right business credit card is crucial for maximizing your rewards and benefits while managing your business expenses. The top 6 business credit cards for 2024 offer a range of options for different customer profiles. Whether you prioritize unlimited cash back, rewards, travel benefits, no annual fees, introductory APR offers, or rebuilding bad credit, there is a business credit card for you.
Evaluate your spending habits, reward preferences, and financial goals to find the best business credit card that suits your small business needs. Consider factors such as your monthly spending, the categories you spend the most in, the type of rewards you want, your credit score, and whether you are willing to pay an annual fee. Take advantage of the benefits and features provided by these top business credit cards to enhance your business growth and increase your profitability.
With the right business credit card, you can earn valuable rewards, enjoy financing offers, and gain access to useful business tools. Make an informed decision and apply for a business credit card that aligns with your business goals. Whether you are a startup or an established business, these credit cards can help you take your small business to the next level by providing the financial flexibility and perks that can support your growth and success.
