Dec 13, 2019

The Best Credit Cards for Every Type of Small Business

The right business credit card can be an essential tool in making your business spending work for you. We’ve spent hours combing through the minutiae of credit card details so you don’t have to. Because not all small businesses have the same needs—and not all credit cards offer the same rewards—we’ve curated the best small business credit cards for 2019 based on specific business considerations.

If you’re new to small business credit cards (or need a refresher), here’s a quick overview of what you need to know.

Small Business Credit Cards vs. Personal Credit Cards

While you can technically use a personal credit card for business, a business card will better serve you in a few ways. First, it’s going to make accounting much easier. If you have a card specifically set aside for business spending, you’ll spend less time weeding out business purchases from personal purchases. If you have employees, business cards provide options for employee cards. Plus, they can help you build business credit (did you know your business has its own credit score?), and many business cards have designed their benefits packages for business spending.

Small Business Credit Cards vs. Corporate Cards

Business credit cards are designed for small businesses. Corporate cards are usually issued to companies with revenues of several million dollars. The key difference here is that with a corporate card, the company is held liable for the spending (hence the revenue requirement), whereas an individual is liable for nonpayment of a business credit card.

The Best Card If You Advertise on Social Media

Chase Ink Business Preferred Card

If sponsored posts on Instagram and Facebook are part of your regular marketing strategy, you’re going to fall head-over-heels for the Chase Ink Business Preferred card. Ink Business Preferred gives you 3X points on Facebook and Instagram ad spending.

What Makes It the Best

Other Aspects We Love

Annual Fee

The Best Card If You’re a Jet-Set Business Person

American Express Business Platinum Card

Are you constantly camping out by the airport charging stations so you can send off a few quick emails before boarding a flight for a meeting? The Business Platinum Card from American Express is the stuff your travel-rewards dreams are made of.

What Makes It the Best

Other Aspects We Love

Annual Fee

The Best Card If You Want Travel Perks Without the Fees

The Bank of America Business Advantage Travel Rewards Mastercard

Don’t travel enough to make the American Express Business Platinum Card worth the fees? Or are you the type of business traveler who’s always looking to save without spending? Buckle up (and lock that tray table in place) because you’re going to love the Bank of America Business Advantage Travel Rewards Mastercard.

What Makes It The Best

Other Aspects We Love

Annual Fee

The Best Card If You’re Making a Big Purchase or Consolidating Debt

The Blue Business Plus Card by American Express

If you’re looking to transfer the balance from a high-interest credit card or if you’re planning to make a large purchase in the next year, the Blue Business Plus Card by American Express might be the card for you. In lieu of a signup bonus, credit card holders have 0% APR on purchases for the first 12 months as long as you make the minimum payment each month.

What Makes It the Best

Other Aspects We Love

Annual Fee

The Best Card If You Don’t Want to Be Told What to Do with Your Rewards

The Bank of America Business Advantage Cash Rewards Mastercard

You’re a business person who makes decisions on the fly, you shoot from the gut and can’t be contained by restrictions like “travel rewards.” Or maybe you’re looking for your business expenses to contribute toward some discretionary funding—you might need some new computer equipment, or you might want to use your cash rewards to pay down your monthly balance. If any of this sounds like you, you’re going to want to cash in (not sorry) on the Bank of America Business Advantage Cash Rewards Mastercard.

What Makes It The Best

Other Aspects We Love

Annual Fee

The Best Card(s) If You’re Working to Build or Repair Credit

Your credit score doesn’t always reflect your ability to run your business like a boss (we believe in you!). Raising your credit score can make you a more appealing borrower, and it can help you get better rates on a business loan—and it’s totally doable. Building a solid history of making payments on time helps, so if you’re looking to raise your credit score, why not let your small business credit card work for you?

Capital One Spark Classic for Business (Fair Credit)

If you have fair credit (a personal credit score between 580 and 669), The Capital One Spark Classic for Business is a great option as long as you plan to use the card responsibly and make payments in full every month.

What Makes It The Best

Other Aspects We Love

Annual Fee

Wells Fargo Business Secured Credit Card (Poor Credit)

If you have poor credit (a personal credit score between 300 and 850), you’re looking for a business credit card that works as a stepping stone. The most important feature for you is going to be finding a card you can qualify for with fixed costs. Other factors (low interest rates and maxing out your points) won’t really come into play until after you raise your credit score (you can do this!). Secured cards, like the Wells Fargo Business Secured Card, require a deposit that becomes your credit line for that account.

What Makes It The Best

Other Aspects We Love

Annual Fee

When searching for a new business card, shopping around can help you get a better sense of what’s available.  A business card marketplace gives you an easy way to compare the rewards and terms of different credit cards and ultimately helps you make a more informed decision.

It takes a little cash to change the world.

So what are you waiting for?

About the author

Mary Kate Miller
Mary Kate Miller
Mary Kate Miller is a writer based in Chicago, IL. She specializes in covering finance (personal and business), investing, and real estate. Her mission in life is to give readers the confidence and the knowledge needed to grow their wealth by making financial topics more accessible. When she's not writing about topics like business loans, you can find her playing armchair financial advisor to the Real Housewives.

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