Best Business Credit Cards of 2020

The best business credit cards offer rewards in categories where businesses often spend the most, while helping them build their credit history. If you’re a business owner who’s interested in getting a credit card, browse our list of the best business credit cards of 2020.

Companies can use business credit cards to pay for expenses and earn rewards, overcome financial challenges, improve their cash flow and build their credit scores — which is important for getting loans and other forms of credit.

Having a business credit card can also help you keep your business and personal finances separate, making accounting easier. According to the Federal Reserve, more than 50% of U.S. employer firms use credit cards, and it’s easy to see why.

In this article

    Best for no annual fee

    American Express Blue Business Cash™ Card
    Partner offer
    Apply now

    Who should get it

    If you don’t want to spend a lot of money on annual fees and want a card with a flat rewards rate, the American Express Blue Business Cash™ Card could be an ideal choice for you.

    How to use it

    The American Express Blue Business Cash™ Card has no annual fee ( See Rates & Fees ) and offers 2% cash back on all of your purchases up to $50,000 per calendar year, then 1%. If you need to go over your credit limit to provide immediate cash flow to your business, this card lets you do so without penalty. You’ll just have to pay the amount you spend over your credit limit in full at the end of your billing cycle.

    Consider this

    • 2% cash back is capped at $50,000 per year, then 1%
    • Potentially high APR after intro period

    Why you’ll love it

    On top of having no annual fee, the American Express Blue Business Cash™ Card offers lots of perks. You’ll also get rental car insurance, purchase protection on everything you buy, access to a global hotline for travelers that can assist you in the event of an emergency and more.

    Pro tip: The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the American Express Blue Business Cash™ Card, your payment history, credit record, financial resources and other factors.

    Best for business travel

    The Business Platinum Card®  from American Express
    Partner offer
    Apply now

    Who should get it

    The Business Platinum Card® from American Express is ideal for business owners who spend heavily on travel. When you use this card to book flights and hotels, you’ll earn an impressive rewards rate of 5x points. You can also earn 50% more Membership Rewards® points, that’s an extra half point per dollar, on each eligible purchase of $5,000 or more.

    How to use it

    The Business Platinum Card® from American Express offers gives you access to more than 1,200 luxury airport lounges worldwide. You’ll also automatically receive Hilton Honors Gold Status, which gives you benefits like free breakfast and room upgrades at Hilton hotels.

    Consider this

    Why you’ll love it

    The Business Platinum Card® from American Express features incredible rewards potential if you’re in the business of traveling and purchasing big-ticket items. You can use The Business Platinum Card® from American Express to maximize your rewards in these categories and never have to worry about traveling in style.

    Pro tip: If you use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline (up to 500,000 bonus points per calendar year when flight is booked on amextravel.com), you’ll earn back 35% points back.

    Best Business Credit Cards for 2020: Summed Up

    American Express Blue Business Cash™ Card
    Partner offer
    The Business Platinum Card®  from American Express
    Partner offer

    Compare the Best Business Credit Cards of 2020

    CardRewards RateAnnual FeeWelcome Bonus
    American Express Blue Business Cash™ Card – Best for no annual feeEarn 2% cash back on all eligible purchases up to $50,000 per year, and 1% cash back after. Terms Apply.No annual fee ( See Rates & Fees )No current offer
    The Business Platinum Card® from American Express – Best for business travel5x points on flights and prepaid hotels on amextravel.com; get 50% more Membership Rewards® points. That’s an extra half point per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year. Terms Apply.$595 ( See Rates & Fees )75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership. Terms Apply.
    Discover it® Miles – Best for freelance travelers1.5x miles on all purchases and match of the miles you earn at the end of your first yearSee TermsUnlimited Bonus: Discover will match all the Miles you’ve earned at the end of your first year, automatically.

    Business credit cards can be used by all types of businesses to pay for expenses, build credit and earn rewards. If you’re interested in getting one, we answer all your questions concerning business credit cards below.

    What are business credit cards?

    A business credit card is a type of credit card intended for business use rather than personal use. It can be used by you and your employees to pay for necessary business expenses, such as office supplies and travel. They usually offer better sign up bonuses and rewards than personal credit cards, often with lower annual fees and higher credit limits.

    What qualifies you for a business credit card?

    It’s easier to qualify for a business credit card than you think. If you earn income from selling something or performing a service, even if it’s just a few thousand dollars a year, you will likely be able to qualify. You may even be able to get a business credit card before you’ve turned a profit if you have a good personal credit score.

    Can I get a business credit card with my EIN (employer identification number)?

    Some business credit cards, especially cards designed for bigger companies, allow you to apply with your employer identification number (EIN) instead of your social security number. This often means that your personal credit history won’t be checked during the application process, and your assets won’t be on the line if your company defaults on the card. However, most corporate cards require millions of dollars in revenue. Therefore, if you’re a sole proprietor or you run a small business, you’ll likely have to use your social security number to get a business credit card.

    How to apply for a business credit card

    Most credit card companies allow you to apply for a business credit card online. You’ll need to provide information like your company’s name, address and annual revenue. You’ll also need to include some personal information like your social security number and income in your application. Once you’ve completed the online forms, you should get your decision shortly. If you’re approved, you will receive the designated card in the mail within a week or two.

    How do I build credit for my LLC?

    There are two main ways that you can build credit as a business — working with vendors that report payments to business credit bureaus and opening a business credit card. The main factors that determine your business credit score are how consistent you are with payments and how much credit you use, so it’s important to pay all of your bills on time and be smart with your spending.

    How can I check my business credit?

    Experian, Dun & Bradstreet and Equifax are the three major credit bureaus that provide business credit reports. To check your business credit score, you have to go to one of their websites and pay a small fee to see your full credit report.

    Do business credit cards affect your personal credit score?

    Being the main account holder of a business credit card may affect your personal credit score. Almost all issuers require you to sign a personal guarantee before you can get a business credit card. A personal guarantee is an agreement that gives your creditor the right to go after your assets if your company falls behind on payments. If your business goes through a financial rough patch, the delinquency will show up on your personal credit report and could impact your credit score.

    How many credit cards should a small business have?

    There isn’t a magic number when it comes to how many business credit cards you should have. If your business has lots of expenses, it may make sense for you to have multiple credit cards to have access to more credit and to maximize the rewards you can earn. However, spreading out your expenses across multiple cards can make it harder to keep everything organized. So if you do choose to use multiple cards, make sure you have solid accounting strategies in place so you don’t end up with a surprise bill at the end of the month.

    How to use a business credit card to manage cash flow and earn rewards

    If you’re waiting on payments from customers but have expenses you need to cover in the meantime, you can charge them to your credit card. As long as you stick to making purchases you can pay off before any interest is charged, having a business credit card will save you money and earn rewards.

    For rates and fees of The Business Platinum Card® from American Express, please click here .
    For rates and fees of American Express Blue Business Cash™ Card, please click here .

    Please Note: Information about the Discover it® Miles have been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.

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