Best Business Credit Cards of August 2024

Business credit cards offer numerous benefits for small businesses, including rewards, sign-up bonuses, and valuable perks. These cards can also provide short-term funding solutions for businesses looking to manage cash flow or make significant purchases. However, it’s essential to understand the pros and cons of business credit cards and choose one that aligns with your business needs and spending habits.

Why Get a Business Credit Card?

A business credit card can help separate personal and business expenses, provide access to business-related perks, and offer rewards on everyday purchases. These cards often have higher credit limits than personal cards, making them useful for businesses with significant expenses.

U.S. News’ Best Business Credit Cards of August 2024

1. Ink Business Cash® Credit Card

Best Feature: 12-month 0% introductory APR on purchases.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Earn $350 after spending $3,000 in the first three months and an additional $400 after spending $6,000 in the first six months.
Annual Fee: $0
Regular APR: 18.49% – 24.49% Variable
Benefits:

• No annual fee.
• 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.

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

Best Feature: 12-month 0% APR on purchases.
Credit Needed: Good, Excellent (670-850)
Intro Bonus: Earn 15,000 Membership Rewards® points after spending $3,000 in the first 3 months.
Annual Fee: No annual fee
Regular APR: 18.49% – 26.49% Variable
Benefits:

• No annual fee.
• Earn 2X Membership Rewards® points on everyday business purchases up to $50,000 per year, then 1X.

3. Ink Business Preferred® Credit Card

Best Feature: Up to three points per dollar on bonus categories.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Earn 120,000 bonus points after spending $8,000 in the first 3 months.
Annual Fee: $95
Regular APR: 21.24%-26.24% Variable
Benefits:

• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year.
• Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®.

4. Ink Business Unlimited® Credit Card

Best Feature: Unlimited 1.5% cash back on every purchase.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Earn $750 bonus cash back after spending $6,000 in the first 3 months.
Annual Fee: $0
Regular APR: 18.49% – 24.49% Variable
Benefits:

• No annual fee.
• Earn unlimited 1.5% cash back on every purchase.

Comparing Business Credit Cards

When choosing a business credit card, consider factors such as rewards structure, annual fees, interest rates, and additional perks. Some cards offer more robust rewards in specific spending categories, while others provide flat-rate rewards across all purchases. The best card for your business will depend on your spending patterns and business needs.

FAQs

1. What is the best business credit card for rewards?
   • The best card depends on your business’s spending habits. Cards like the Ink Business Cash® Credit Card offer high rewards in specific categories, while the Ink Business Unlimited® Credit Card provides a flat rate on all purchases.
2. How do business credit cards differ from personal cards?
   • Business credit cards typically offer features tailored to business needs, such as higher credit limits, expense tracking tools, and rewards on business-related purchases.
3. Can I use a business credit card for personal expenses?
   • While technically possible, it’s not advisable as it can complicate accounting and potentially violate the card’s terms of use.
4. How do I qualify for a business credit card?
   • Qualification depends on your personal credit score and the creditworthiness of your business. Even small businesses or sole proprietorships can qualify.
5. What is an EIN number and do I need it for a business credit card?
   • An Employer Identification Number (EIN) is a federal tax ID number for businesses. Some business credit cards require an EIN, but many also accept Social Security Numbers (SSNs) for sole proprietors.

For more information and to explore the best business credit card options, visit U.S. News Business Credit Cards.

Applying for a business credit card can help manage your business expenses, earn rewards, and access valuable perks. Choose the best card for your needs and start maximizing your business’s financial potential today!