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Compare Business Credit Cards in February 2024

Best for straightforward rewards for business

Capital One Spark Miles for Business

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4.5
Quicken Compare Score

The Quicken Compare score is based on multiple factors such as the most popular choice, consumer feedback and our internal evaluation. The score is unbiased and its goal is to provide you with a relative recommendation of offers as you compare the brands listed in our marketplaces. We do receive monetary compensation if you utilize the brands listed which allows us to keep this service free.

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Airline Credit Cards
Welcome Bonus
Earn a one-time bonus of 50,000 miles – equal to $500 in travel once you spend $4,500 on purchases within 3 months from account opening
Regular APR
25.74% (Variable)
Purchase Intro
APR: N/A
Annual Fee
$0 intro for first year; $95 after that
Credit Score Needed
Excellent/Good
Quicken Compare Review
The Capital One Spark Miles for Business credit card is designed specifically for small business owners and offers rewards and benefits tailored to their needs. Overall, the Capital One Spark Miles for Business credit card is a solid choice for small business owners who want a straightforward rewards program and travel benefits. The unlimited 2X miles on all purchases and flexible redemption options provide value and flexibility. The lack of foreign transaction fees and the ability to transfer miles to partner airlines are additional advantages. However, if your business expenses are primarily in specific spending categories, you may want to consider other cards that offer higher rewards in those areas.
Pros and Cons
pro
Generous Rewards Program
pro
Flexible Redemption Options
pro
Valuable Welcome Bonus
con
Annual Fee
con
Limited Category Bonuses
con
Limited Transfer Partners
Featured Card Benefits
  • Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won’t expire for the life of the account
  • Unlimited 5X miles on hotels and rental cars booked through Capital One Travel
  • Transfer your miles to 15+ travel loyalty programs
Best for business travel

The Business Platinum Card® from American Express

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5.0
Quicken Compare Score

The Quicken Compare score is based on multiple factors such as the most popular choice, consumer feedback and our internal evaluation. The score is unbiased and its goal is to provide you with a relative recommendation of offers as you compare the brands listed in our marketplaces. We do receive monetary compensation if you utilize the brands listed which allows us to keep this service free.

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Apply on CardRatings’ secured site
Airline Credit Cards
Welcome Bonus
Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
Regular APR
19.24% – 27.24% (Variable)
Purchase Intro
APR: N/A
Annual Fee
$695
Credit Score Needed
Excellent/Good
Quicken Compare Review
The Business Platinum Card® from American Express is a premium business credit card designed for business owners who travel frequently and value a range of exclusive benefits. Overall, the Business Platinum Card® from American Express is an excellent choice for business owners who travel frequently and value a wide range of travel benefits and rewards. The card offers valuable rewards, exclusive airport lounge access, elite hotel status, and various travel-related credits. However, the higher annual fee should be considered in relation to the benefits and rewards you can derive from the card.
Pros and Cons
pro
Generous Welcome Bonus
pro
Travel Benefits and Rewards
pro
Membership Rewards Points Flexibility
con
High Annual Fee
con
Limited Acceptance
con
Point Value for Non-Travel Redemption
Featured Card Benefits
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.

Benefits of Business Credit Cards

Using a business credit card can provide several benefits for business owners. Here are five common advantages of utilizing a business credit card:

Separation of Business and Personal Expenses

A business credit card allows you to keep your business and personal expenses separate. This separation makes it easier to track and manage your business finances, simplifies tax reporting, and helps maintain accurate records for financial and accounting purposes.

Improved Cash Flow Management

Business credit cards provide a revolving line of credit, giving you access to funds for business expenses when needed. This flexibility can help manage cash flow fluctuations, bridge gaps between revenue and expenses, and provide working capital to support your business operations.

Expense Tracking and Reporting

Business credit cards often come with robust expense tracking tools and detailed monthly statements. These features make it easier to monitor and categorize your business expenses, simplifying record-keeping, budgeting, and financial analysis. Additionally, some business credit cards offer integration with accounting software, streamlining your financial management processes.

Rewards and Perks

Many business credit cards offer rewards programs tailored to business spending. These rewards can include cash back, travel rewards, discounts on business expenses, or points that can be redeemed for various benefits. Taking advantage of these rewards can help offset business expenses or provide additional perks, such as travel insurance or access to airport lounges.

Building Business Credit

Using a business credit card responsibly can contribute to building and improving your business credit profile. Making timely payments and managing your credit utilization can establish a positive credit history, which may be beneficial when seeking financing or negotiating favorable terms with suppliers in the future.

It’s important to note that while business credit cards offer benefits, responsible usage is crucial. Paying off the balance in full each month, monitoring spending, and being mindful of interest rates and fees are essential for maximizing the advantages and avoiding unnecessary debt. Carefully comparing different business credit card options to find one that aligns with your business needs and offers favorable terms is also recommended.

Frequently Asked Questions (FAQ)

How to get a business credit card?

There are plenty of cards to apply for, but make sure you narrow your research to business credit cards only.

So, why not go for a personal credit card?

There are a few differences between personal and business credit cards. Most notably, business spending limits are generally higher than personal credit lines. This is vital because you need the capacity to place large orders with vendors.

The second difference is rewards and perks. Business credit card rewards programs are far more appealing to entrepreneurs.

Here are the best business rewards to look for:

  • Travel rewards
  • No calendar year credit card fees
  • Cashback rewards
  • Cashback bonuses
  • Gas Station rewards
  • Hotel and lodging points
  • Office Supply Store rewards
  • Substantial credit limit

How do I apply for a business credit card?

Your next step is to apply for a business card. If you want to make the approval process as easy as possible, gather all your required documents before reaching out to a credit card issuer.

Have the following items handy as you apply:

  • The legal name of your company
  • All of your company’s contact information
  • Tax identification number (EIN)
  • Social Security Number (for a sole proprietorship)
  • Your company’s industry
  • Yearly revenue and profit/ cash flow
  • Annual company expenses

You’ll also need to present the credit card issuers with your personal financial information. Perform a personal and business credit score check before applying. Financial institutions will look at this information to gauge if you’re worth the financial risk.

One problem new entrepreneurs run into is a lack of credit score or credit history. If you have zero credit history, start building your personal and business credit now. This can help you get approved for a business credit card faster.

New or aspiring business owners should look into the Capital One® Spark® Classic for Business. This card is excellent for building a credit score since only “fair credit” is required for an account opening.

What should you look for in a business credit card?

There are several reasons why a small business owner may want a credit card, which dictate what you’ll look for. If you’re primarily looking for a means of finance, then you’ll want to consider cards that offer an interest free introductory financing offer for new purchases. But if your goal is to earn rewards, go for a card that features the most valuable points, miles, or cash back for the kind of spending you’ll do. Finally, business travelers should look for perks and benefits, such as airport business lounge access.

How do small business credit cards differ from consumer cards?

Most credit card issuers offer cards specifically designed for small business users. But the differences between these cards and consumer cards aren’t as great as you might think. For example, you apply for a small business credit card with your personal credit history and credit score. And when you’re opening an account, you’re personally guaranteeing repayment of your purchases.

Small business credit cards are exempt from many of the consumer protection provisions of the CARD Act of 2009, but most major card issuers have chosen to voluntarily have their small business cards comply with the law. Beyond that, a small business credit card can offer rewards on the kinds of purchases that small businesses are more likely to make, such as office supplies and telecommunications services. A small business card could also come with expense tracking and reporting features that you won’t find on your personal cards.

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We are an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which we receive compensation. This compensation may impact how and where products appear on this site, including for example, the order in which they may appear within listing categories. The ranking is determined at our own discretion and should not be considered an endorsement (express or implied). The information and vendors which appear on this site is subject to change at any time. To the extent that ratings and rankings appear on this site, these are determined by both our subjective opinion and based on a methodology that aggregates a number of factors, including but not limited to, our analysis of brand market share based on origination volume and number of leads purchased, reputation according to such factors as JD Power customer service awards, compensation paid to us, and general consumer interest and awareness. For Credit Cards, Quicken Compare has partnered with CardRatings for our coverage of specific credit card products. Quicken Compare and CardRatings may receive a commission from card issuers.

Quicken Compare Score

The Quicken Compare score is based on multiple factors such as the most popular choice, consumer feedback and our internal evaluation. The score is unbiased and its goal is to provide you with a relative recommendation of offers as you compare the brands listed in our marketplaces. We do receive monetary compensation if you utilize the brands listed which allows us to keep this service free.

Editorial Note

Quicken Compare, a LMB Opco, LLC company, is compensated by third-party advertisers, however, any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone and have not been reviewed, approved, or otherwise endorsed by the advertiser. We make every effort to provide up-to-date information, however we do not guarantee the accuracy of the information presented. Consumers should verify any terms and conditions with the institution providing the products. Articles may contain some sponsored content, content about affiliated entities or content about clients in the network. QuickenCompare does not include all lenders or offers available in the marketplace. The content displayed on QuickenCompare or in this video does not provide legal, financial, accounting or tax advice. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.