Whether your business is brand new or already well-established, there are plenty of reasons to sign up for a business credit card. First, having a dedicated business account can make separating your business and personal expenses a breeze. And if you use your business credit card solely for business purchases, your business tax returns might become easier to manage, too.
Beyond the convenience factor, business credit cards come with their own set of perks. Depending on the card you sign up for, you could score anything from free trip cancellation and interruption insurance to primary auto rental coverage and zero fraud liability. As an added bonus, some business credit cards offer enticing rewards in the form of cash back or free or discounted travel.
While getting a business credit card for your new small business is a no-brainer, you might be wondering which card would be best for a first-timer. As you decide what you want in a business card, consider the offers below.
Ink Business Cash℠ Credit Card: Best Signup Bonus with No Annual Fee
When you’re just starting out, a no-annual-fee business credit card might be your best bet. For myriad reasons, the Ink Business Cash℠ Credit Card is the hands-down favorite among business cards that don’t charge an annual fee. Not only does this card offer a signup bonus, but it lets you earn 5% cash back on your first $25,000 spent at office supply stores and utilities each year, 2% back on gas and dining, and 1% back on all other purchases. And once you’re ready, you can redeem your rewards for cash back, gift cards, purchases, or travel.
Ink Business Cash℠ Credit Card
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases and balance transfers
- Employee cards at no additional cost
- No Annual Fee
Ink Plus® Business Credit Card: Best for Businesses that Spend Big
The Ink Plus® Business Credit Card is a slightly upgraded version of the Ink Business Cash℠ Credit Card. With this card, you’ll get an even bigger signup bonus and the potential for more rewards. Earn five points per dollar (5%) on your first $50,000 spent at office supply stores and utilities, double points on gas and hotels, and one point per dollar on all other purchases.
As an added bonus, the points you earn belong to the Chase Ultimate Rewards program. From there, you can transfer them to popular airline and hotel loyalty programs at a one-to-one ratio, use them to book travel through the Chase portal at a 20% discount, or redeem them for cash or gift cards at a rate of one cent each. This card does charge an annual fee, but big spenders will more than make up for it in rewards. Best of all, you’ll get premier Chase consumer benefits such a trip cancellation/interruption insurance, return protection, purchase protection, and extended warranties.
*This offer is currently unavailable
SimplyCash® Plus Business Credit Card from American Express: Another Solid No-Fee Option for Businesses
In addition to a generous intro bonus, this card can let you earn more rewards over time depending on your spending habits. With the SimplyCash® Plus Business Credit Card from American Express, you’ll earn 5% cash back at U.S. office supply stores and wireless telephone services purchased directly from U.S. service providers, 3% in a category of your choosing (on the first $50,000), and 1% back on all other purchases. As an add-on, you’ll also receive premier American Express premier travel and consumer protections benefits such as car rental loss and damage insurance, purchase protection, and extended warranties.
SimplyCash® Plus Business Credit Card from American Express
- Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 14.24% - 21.24%
- No annual fee
- Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
- Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
- Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
- With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors
- Terms apply
- See Rates & Fees
Next Steps Before You Get a Business Credit Card
Qualifying for a business credit card can be difficult or easy depending on the card and your business credit history. If your business is brand new, for example, you might need to submit anything from your articles of incorporation to profit and loss statements to qualify. If your business is established and has a history of good credit, on the other hand, you may be able to apply and get instant approval online.
Either way, you’ll want to have this information handy when you fill out an online application for a business credit card:
- Employer Identification Number (EIN): Think of your EIN as the Social Security number for your business. You can apply for an EIN online at IRS.gov.
- Social Security Number: In addition to your EIN, you’ll need your Social Security number to apply for business credit as well. If you don’t have an EIN, you can apply for a business credit card as a sole proprietor and use your SSN.
- Annual Revenue: Your card issuer will want to know how much your business earned the previous year.
- Business Address: Your application requires a business address, although you can use your home address if you run your business out of your home.
- Business Name and Details: Your card issuer will need to know the name of your business, as well as how long as it been in operation.
Before you apply for a business credit card online, you should have all of this information handy. If your application goes to “pending,” you may also need to call your card issuer to confirm your identity or details about your business.
Best Business Credit Cards for a New Business
- Ink Business Cash℠ Credit Card
- Ink Plus® Business Credit Card
- SimplyCash® Plus Business Credit Card from American Express
There are plenty of reasons to get a business credit card, and very few reasons not to. Before you sign up, you should research all of the top business cards to find the best option for your spending style and business goals.
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