Best Business Credit Cards of February 2023

How do business credit cards work?

Technically, business credit cards are not different from personal ones. You have a particular APR rate, in most cases — a grace period and many more.

The major difference is that business credit cards have special perks, profitable for business owners. For example, they usually offer a bigger spending limit than a personal credit card. Besides, business cards may have much longer interest-free periods, opportunities to share accounts with employees, and impressive welcome bonuses.

The best business credit cards

Nowadays, there are a lot of business credit card offers from major banks, like Bank of America, Chase, and American Express. All business cards have different terms and conditions — so choosing the right one to cover the business expenses means finding an offer that will suit all business needs. Below is a brief overview of the best business credit cards currently available on the market.

1. The Blue Business® Plus Credit Card. There is a whopping pipeline of Amex business credit, and debit card offers — and the American Express Blue Business Plus Credit Card is on top of the list.

   The main perk of this card is its Welcome Offer. To opt-in for a bonus, you will need to spend $3,000 in purchases within the first three months after you get the card. You can get a $250 statement credit if you meet this requirement.

   Besides, when you open a credit card account, you automatically enroll in the cashback program with the following benefits:

   • 2% Cashback on everyday business purchases (the cash back can't exceed $50k per year; the funds are automatically credited to your card).
   • 1% cash back on the other eligible purchases (the cash back can't exceed $50k per year; the funds are automatically credited to your card).

   Finally, to be done with bonuses — the Membership Rewards Points. It allows you to earn reward points in restaurants, office supply stores, and other purchases after your welcome bonus period is over and exchange these points for various travel offers, gift cards, and more.

   Introductory APR during the first 12 months from the date when you opened an account is 0%. APR after 12 months will be 16.24%-24.24%, depending on your credit score, income, and other factors. The grace period is 25 days after a billing cycle is closed. Penalty fees of $39.

   You can apply for this credit card online at the American Express website and get a final decision about the credit limit and APR within 30 seconds.

   Don't confuse this offer with the American Express Blue Business Cash Card — it doesn't have a credit limit.

2. Ink Business Unlimited® Credit Card. This business cash credit card from Chase bank also implies having a welcome bonus. The conditions are the following:
   • Apply for the card;
   • After the card is approved and your account is opened, you must spend $7,500 within three months.

   Once you meet the requirements, you will be granted a cashback of $750. The other card terms may vary depending on your creditworthiness.

   There is no annual fee for the card, and it gives the redeemed rewards. The introductory APR during the first 12 months from when you opened an account is 0%, and the APR after 12 months varies from 15.49% to 21.49%, depending on your credit score, income, and other factors. The cash advance APR on this card is 27.99%. A default APR of 27,99% applies when you fail to make a minimum payment on time. The grace period lasts for 20 days after a billing cycle is closed.

   Besides, you can also open free cards for your employees and get loyalty points via the Chase Ultimate Rewards program.

3. American Express® Business Gold Card. This card from American Express is not a credit card — but has a Pay Over Time option. It's when you can pay for eligible purchases over time — in other words, take a small loan depending on your Pay Over Time Limit.

   The annual fee for Pay Over Time is $295. The introductory APR during the first 6 months from the date when you opened an account is 0%, and after 12 months, the APR is 17,24%-25.24%, depending on your credit score, income, and various other factors. Penalty APR is 29.99%, applied when you make 2 late payments within a year, fail to make a minimum payment on time or have your payment returned. The grace Period lasts for 25 days after a billing cycle is closed. There are no extra fees on Employee Cards, and no foreign transaction fee on the card. Penalty fees are either $39 or 2,99% of the minimum payment due if it exceeds $40.

4. Ink Business Premier℠ Credit Card. Another cashback small business credit card from Chase, with a welcome bonus of $1,000 in cash back after you spend $10,000 within the first 3 months. Besides, it offers 5% cash back on travel expenses and other travel benefits, cell phone, and fraud protection.

   The annual fee on Ink Business Premier is $195. Introductory APR during the first 12 months from the date of the account opening will be 0%, but after 12 months, APR will range from 17,24% to 25.24%, depending on your credit score, income, and various other factors. There is a penalty APR of 29.99%, applied when you make 2 late payments within a year, cannot make a minimum payment on time, or have your payment returned.

   The Ink business cash credit advance fee is $15, or 5% of the amount transaction if it exceeds $15. Penalty fees comprise $40 or 2% of the minimum payment due if it exceeds $40. The grace period is 20 days after a billing cycle is closed, and Employee Cards come with no extra fees.

5. Brex 30 Card. The welcome offer is 50,000-10,000 points after spending the first $1,000 with the card on eligible purchases. Then, you need to spend $3,000 more within the three months and get another 10,000 points, and the final 20,000 points are granted when you add your payroll to the account.

   Brex Card programs are only available to business owners and offer the following conditions: annual fee of 0%; introductory 0% APR during the first 12 months from the date the account opening; APR of 15.49%-21.49% after 12 months, depending on your credit score, income, and other factors.

6. Ink Business Preferred® Credit Card also has a travel insurance and allows you to participate in various travel programs. The welcome bonus is 100,000 bonus points after you spend $15,000 within the first 3 months after the account opening on eligible purchases.

   The annual fee is $95, and your APR will range from 18.99% to 23.99%, depending on your credit score, income, and other factors. The cash advance fee will be $15, or 5% of the amount transaction if it exceeds $15. There is a penalty APR of 29.99%, applied when you make 2 late payments within a year, cannot make a minimum payment on time, or have your payment returned. Penalty fees are $40 or 2% of the minimum payment due if it exceeds $40. The card has a grace period of 20 days after a closed billing cycle. Employee Cards come with no extra fees, and there are no foreign transaction fees.

7. Wells Fargo Business Elite Signature Card. Wells Fargo gives a generous welcome bonus to business owners: a $1,000 cashback bonus or 100,000 bonus points after you spend $25,000 in combined purchases within the first three months of using the card.

   Annual fee of $0 for the first year, and then $125 per year. No foreign transaction fees. Up to 200 Employee Cards with no extra fees. Grace Period of 20 days after a billing cycle is closed.

8. Amazon Business Prime American Express Card. The welcome offer is a $125 Amazon Gift Card. You will receive the card as soon as your Amazon Business Prime Amex Card is approved.

   The annual fee is $0, and there are no foreign transaction fees. Introductory APR during the first 12 months from the date when you opened an account is 0%, and APR after 12 months is 17,24%-25.24%, depending on your credit score, income, and various other factors. Cash Advance APR is 27.99%. Penalty APR will be 29.99% and is applied when you make 2 late payments within a year, fail to make a minimum payment on time, or have your payment returned. There is a grace period of 20 days after a billing cycle is closed. Penalty Fees are $39. The Employee Cards come with no extra fees.

   Alternatively, there is a Bank of America Business Advantage Unlimited Cash Rewards card that doesn't charge any annual fees and offers 1.5 percent cash back.

9. Wyndham Rewards Earner® Business Card. The welcome offer is a $125 Amazon Gift Card. You will receive the card as soon as your Amazon Business Prime Amex Card is approved.

   The annual fee is $95. The introductory APR during the first 6 billing cycles will be 0%, and APR after the first 6 billing cycles will be 18.99%, 22.99%, or 27.99%, depending on your credit score, income, and various other factors. Cash Advance APR is 28.24%, but it may change. There is a penalty APR of 29.99%, applied when you make 2 late payments within a year, cannot make a minimum payment on time, or have your payment returned. The grace Period is 20 days after a billing cycle is closed. The Employee Cards come with no extra fees, and the cards also don't have any foreign transaction fees. You can be required to pay penalty fees of $39.

How to choose a business credit card?

Your primary goal here is to compare what every credit card issuer can suggest. Here are the points to compare:

• Required credit record. Your credit score should match the one that the bank requires.
• APR for purchases and balance transfers in case of a penalty. This will help you to estimate if you can afford the card.
• If there are cashback or rewards programs for business categories, you require.
• Travel support, including 24/7 service from anywhere worldwide, travel bonus categories.
• Fees for late payment, cash advance, additional employee cards, or any other fees. This way, you will be sure there are no hidden fees that may cost you additional money.
• The amount of the annual fee if you have a certain budget.
• The presence of the sign-up bonus.

How to get the best business credit card?

To get a business credit card, you need to prioritize finding the one that will cover your business needs, like office supplies, cloud system providers, prepaid hotels for business trips, phone services, and more.

To apply, you will need to open a business checking account in the bank, and after the account opening, there will be options to get small business credit cards.

Overall, such a card must give you expanded buying power. You can expect the best offers when you have a good personal credit history (from 700 points), but it makes sense to check various banks and compare what they can suggest in your situation.