Best Small-Business Credit Cards

Running a small business includes the hard work of effectively managing your expenses, establishing your business’s credibility, and always looking for new avenues for expansion. One tool which can enable you to do all this and more is a small business credit card.

These cards come with numerous advantages which include: being able to distinguish personal and business expenditures, earning benefits, and enjoying higher borrowing capabilities.

In this article, we’ll focus on the most prominent small-business credit cards in 2024 so that it’ll be easier for you to select the most appropriate card. In addition to this, we will show you how to use your credit card properly so as not to lose your financial balance.

How a Business Credit Card Can Benefit a Business Owner

A business credit card is an instrument that does not only facilitate payments but also promotes the overall monetary aspect of a business. Here are a few reasons which will add to your persuasion:

• Keep Different Accounts: It is of utmost importance that an individual’s personal expenses and business costs are maintained separately for better records and easier tax returns.
• Receive Perks or Cash Back: Depending on the business expenses, a large number of business credit cards tend to provide cashbacks or rewards which are beneficial and economical.
• Build Business Credit: By using a business credit card wisely, you are able to create a credit record which can come in handy in the quest for loans or financing.
• Access Higher Credit Limits: Business cards tend to have proportionately larger credit limits than personal ones which makes it possible to meet higher expenses and manage cash flow effectively.

Top Small-Business Credit Cards for 2024

Here are some of the best business credit cards that can help your small business flourish in the year 2024:

1. Ink Business Unlimited Credit Card

Best For Simple Cash Back on Every Single Purchase
However, if you’re someone who doesn’t want to think much while spending and desires a cashback card, Ink Business Unlimited Credit Card is the way to go. You will get 1.5% cashback on all expenses paid so you don’t have to worry about accumulating rewards on certain specific cashcow expenditures like that of office equipment or meals with colleagues.

Why It’s Great:

• Unlimited Cash Back: Enjoy 1.5% cash back on every expense, regardless of the category.
• Big Sign Up Bonus: Receive $900 bonus cash after you use above $6,000 within the first 3 months of opening.
• No cost for issuing cards to employees: Employees’ cards can be issued at clock rate with preset limitations on how much each holder can use.
• 0% Intro APR: You get a 0% APR on all purchases for a period of one year at the beginning,which is very helpful when it comes to cash flow management.

Best For: Starting businesses that are in need of a basic card that has no annual fees and can offer cashback on all purchases made.

2. Capital One Spark Miles for Business Sapphire Wounded Bear

The Most Favorable for Earning Travel Rewards
For business owners who love to travel, the Capital One Spark Miles for Business card rewards them with an amazing rate of 2X miles on all purchases. Furthermore, 5X miles can be accumulated by booking hotels and rental cars through Capital One Travel.

Why It’s Great:

• Unlimited 2X Miles: Every purchase gets 2X miles.
• 50,000 Miles Join Bonus: There’s a join bonus of 50,000 miles after making purchases within the first 3 months worth $4,500 (equivalent to $500 in travel reward).
• No Payment Of Additional Fees For International Transactions: A good choice for international business trips.
• Free Employees’ Cards: Employ additional cards with no additional fee.

Best For: Businesses that need to travel often with good returns for each purchase made.

American Express Blue Business Cash™ Card

The Card Suitable for the One with the Traits to Easy Be a King of Cash Amidst the Common Folk
The American business Amex cash card offers an impressive two percent cashback up to the tune of fifty thousand dollars worth of purchases. This is convenient for businesses that would like uncomplicated rewards that do need to maintain an annual fee.

Why It’s Great:

• Annual Limit Of 2%: Make a two percent return within 50,000 worth of spendings up to a period of one year, after which the value drops to one percent.
• 0% Intro APR: For Non-Residents of Saudi Arabia, 0% interest is charged during the first year on all purchases.
• No Annual Fee: We would suggest skipping this on account of there being absolutely no annual fee

Best For: Businesses who after sufficient lockdown support are now looking for effortless cash back options on basic things like promotional effort, office expenditures, a computer, a tablet.

4. Ink Business Cash® Credit Card

Best for Office Supplies and Business Expenses
The Ink Business Cash® Credit Card shines for businesses that spend heavily on office supplies and utilities. You’ll earn 5% cash back on the first $25,000 spent in certain categories each year, plus additional cash back on dining and gas.

Why It’s Great:

• 5% Cash Back: Earn 5% cash back on the first $25,000 spent on office supplies, internet, cable, and phone services.
• 2% on Gas & Dining: Earn 2% cash back on up to $25,000 in combined purchases at gas stations and restaurants.
• Sign-Up Bonus: Get up to $750 in cash back when you meet the spending requirements.
• No Annual Fee: Get all these benefits without an annual fee.
  Best For: Businesses that spend a lot on office supplies, utilities, or gas.

5. The Blue Business® Plus Credit Card from American Express

Best for Earning Membership Rewards Points
If your business prefers to earn flexible rewards instead of cash back, the Blue Business® Plus Credit Card lets you earn 2X Membership Rewards points on every purchase.

Why It’s Great:

• 2X Points on All Purchases: Earn 2X points on up to $50,000 in purchases each year, then 1X thereafter.
• 0% Intro APR: Enjoy a 12-month 0% intro APR on purchases, perfect for financing big purchases.
• No Annual Fee: No annual fee to pay.
• Expanded Buying Power: You can spend beyond your credit limit based on your business needs.

Best For: Businesses that prefer to earn flexible Membership Rewards points, which can be used for travel, gift cards, or other rewards.

How to Choose the Right Business Credit Card

Choosing the right small-business credit card depends on several factors. Here’s what to think about:

• Business Spending: What does your business spend the most on? Whether it’s office supplies, travel, or dining, pick a card that rewards you for those expenses.
• Rewards vs. Cash Back: Some cards offer cash back, while others offer points or miles. Consider how you want to redeem your rewards.
• Fees and Rates: While many cards have no annual fee, some may charge higher fees for premium rewards. Check for any additional charges, like foreign transaction fees or high APRs.
• Introductory Offers: Look for cards with sign-up bonuses or 0% APR introductory periods if you’re planning big purchases or want to offset startup costs.

Benefits of Using a Business Credit Card

A business credit card can make managing your finances much easier. Here’s how:

• Better Organization: Keep business and personal expenses separate, making bookkeeping simpler and taxes easier.
• Build Your Credit: A business credit card helps build your company’s credit score, which can help with securing loans in the future.
• Earn Rewards: Cash back, miles, and points can add up fast and provide great savings or rewards like free flights.
• Higher Credit Limits: Business cards usually come with higher credit limits, which can help with managing cash flow or handling big purchases.

Tips for Managing Your Business Credit Card

To make the most of your card and avoid common pitfalls, follow these tips:

• Set Spending Limits: Set limits for both yourself and your employees to avoid overspending.
• Track Your Expenses: Use the card’s tracking tools to keep tabs on your spending and ensure you stay on budget.
• Pay On Time: Always pay your bill on time to avoid late fees and interest charges.
• Use for Business Only: Keep your personal and business expenses separate to simplify accounting and tax filing.

Selecting the right small-business credit card can help you manage expenses, earn rewards, and build your company’s financial future. Whether you're after straightforward cash back or travel rewards, there’s a card out there to meet your business needs. Take the time to assess your spending habits and pick the card that works best for your goals.

At TopRoute, we help you make informed decisions, but always consider your unique needs when selecting the right card for your business.