Best Business Credit Cards: Top 5 Picks for Companies in 2023

SUMMARY: I've highlighted the best business credit cards for your financial savvy. Discover the Ink Business Preferred® for travel rewards, the no-fee simplicity of the American Express Blue Business Cash™, and the adaptable points system of the American Express® Business Gold Card among others to elevate your business's spending power.

Feeling overwhelmed by the plethora of business credit card options?

With a decade of financial expertise and a proven track record of helping businesses thrive, I've scrutinized countless credit card offers to bring you the most valuable picks. You're in capable hands as I guide you through the intricate maze of rewards, rates, and benefits to find the perfect financial tool for your enterprise.

  • Ink Business Preferred® Credit Card
  • The American Express Blue Business Cash™ Card
  • American Express® Business Gold Card
  • Ink Business Cash® Credit Card
  • U.S. Bank Business Leverage® Visa Signature® Card

Stay with me, and by the end of this article, you'll be equipped to confidently choose a business credit card that aligns with your financial aspirations and operational needs.

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What We Considered in Our Reviews

Identifying the best business credit cards requires a keen eye for details that truly benefit businesses. From rewards structures to fee minimization, each factor plays a pivotal role.

Annual fees and interest rates directly impact your bottom line, while a card's rewards program can substantially offset business expenses.

The flexibility of redeeming points matters too, as does the scope of additional perks like travel insurance or exclusive access to business services.

Action Tip: Always assess the earning rates against your company‘s spending habits to maximize rewards.

Common Mistake: Don't underestimate the added value of a card's peripheral benefits; they can provide unexpected bank savings and convenience.

Statistics show that expense management features are among the most desired by cardholders – a smart choice for streamlining accounting practices.

Our Top Picks for Business Credit Cards

Ink Business Preferred® Credit Card

The Ink Business Preferred® Credit Card emerges as a top option for entrepreneurs who prioritize travel benefits and want to maximize rewards on business spending.

With an attractive sign-up bonus and rewards program, this card holds high value.

Cardholders can earn a notable 3 points per dollar on the first $150,000 spent in combined purchases on travel, shipping, internet, cable and phone services, and advertising purchases made with social media sites and search engines each bank account anniversary year.

Plus, this card offers flexibility with Chase Ultimate Rewards points which can be transferred to various airline and hotel partners.

Action Tip: Maximize your earnings by scheduling your major advertising campaigns and travel expenses to align with the card's reward categories.

Common Mistake: Entrepreneurs often miss out on utilizing the full benefits of the bonus categories, potentially losing points.

A statistic that stands out is that businesses can increase their rewards by up to 75% by fully leveraging the bonus categories provided by their business credit cards.

The American Express Blue Business Cash™ Card

Elegance in simplicity defines the American Express Blue Business Cash™ Card.

It's designed for businesses that want a straightforward cash-back program without the hassle of an annual fee.

This card offers a consistent 2% cash back on all eligible purchases on up to $50,000 per calendar year.

After reaching the threshold, cash back earnings adjust to 1%, ensuring that rewards continue even after high spending.

Action Tip: Use this card for everyday business purchases to maximize the 2% cash back benefit.

Common Mistake: Not taking full advantage of the card's cash-back offer can result in missed rewards potential.

Statistics show that cash-back credit cards can significantly reduce business expenses when used strategically in routine transactions.

American Express® Business Gold Card

The American Express® Business Gold Card adapts to where your spending is highest each billing cycle.

It automatically earns you the most in the categories your business frequently uses.

Cardholders receive 4 Membership Rewards® points per dollar in the two categories where they spent the most each month.

This benefit applies to the first $150,000 in combined purchases from these two categories each calendar year.

Action Tip: Categorize your business expenses to benefit from the highest rewards categories this card adjusts to each month.

Common Mistake: Business owners might not realize that they can get a 25% points back after they book a flight using Pay with Points.

Noteworthy is that leveraging such benefits could significantly help in managing travel costs.

Ink Business Cash® Credit Card

The Ink Business Cash® Credit Card is an appealing choice for small to mid-sized businesses.

It offers significant cash-back rewards, particularly on office supplies and telecommunications services, with no annual fee.

Businesses can 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 bank account anniversary year.

They also earn 2% cash back on the first $25,000 spent at gas stations and restaurants each account anniversary year.

Action Tip: Strategize your purchases in the card's bonus categories to make the most of the 5% cash-back rate.

Common Mistake: Not realizing that the card's cash-back rewards can be even more lucrative when paired with another Chase card that offers Ultimate Rewards points.

Insights reveal that pairing cards can enhance rewards redemption value by 25% or more when redeemed for travel through Chase Ultimate Rewards.

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U.S. Bank Business Leverage® Visa Signature® Card

The U.S. Bank Business Leverage® Visa Signature® Card is a unique offering that stands out for its customizable rewards.

It automatically identifies your top spending categories and awards extra points without any action required on your part.

Each month, cardholders earn 2x points in the top two categories of spend.

For all other eligible purchases, 1x points are earned.

Additionally, no manual tracking or selection of categories is necessary.

Action Tip: Utilize the card for a variety of business expenses to take full advantage of the automatic category rewards feature.

Common Mistake: Business owners might miss out on potential rewards by using a less flexible card for their diverse spending needs.

A telling statistic is that businesses can benefit from an average rise of 50% in reward earnings when using cards tailored to their spending categories.

What to Look for When Choosing a Business Credit Card

Choosing the right business credit card is a decision that demands meticulous attention to detail.

Critical factors such as reward structures, fee schedules, and credit limits play a significant role in determining the card's compatibility with your business requirements.

Action Tip: Delve into the card's reward optimization by examining how the rewards align with your spending.

It's essential to ensure the card's perks enhance your business operations without incurring excessive fees.

Common Mistake: Business owners can sometimes underestimate the repercussions of interest rates.

Ignoring APRs when you're likely to carry a balance can inflate your costs significantly over time.

An interesting statistic to consider; research reveals that a mere 30% of business credit card holders feel they are maximizing all available card benefits.

Reflect on this when reviewing your prospective card's benefits, ensuring you're within the majority that capitalizes on these opportunities.

Consider These Alternatives

While our top picks stand out, the ecosystem of business credit cards is diverse and extensive.

Exploring alternative options may introduce you to cards with tailored offers that might suit your company‘s specific spending habits and financial preferences better.

Action Tip: Take the time to scrutinize each card's distinctive features, including cash back options, travel points, and interest rates.

It's crucial to assess these details and how they might serve your business model more effectively.

Common Mistake: Not considering the broader market of cards can result in missed opportunities for greater savings or rewards.

Studies suggest that a well-matched business credit card can lead to average savings of up to 3% on company expenses.

Keep this in mind and conduct a thorough market comparison to ensure you're not leaving money on the table.

Final Reflections on the Best Business Credit Cards

After careful analysis, our recommendations for the best business credit cards cater to a diverse range of financial needs for today's businesses.

  • The Ink Business Preferred® Credit Card excels in travel rewards and generous point earnings for business spending.
  • For straightforward cash-back with no annual fee, the American Express Blue Business Cash™ Card is a frontrunner.
  • The American Express® Business Gold Card offers flexible reward categories tailored to where your business spends most.
  • High rewards rates on office supplies and services make the Ink Business Cash® Credit Card a great choice.
  • Lastly, the U.S. Bank Business Leverage® Visa Signature® Card's adaptable rewards structure is ideal for varied business expenses.

Choosing the best business credit card is more than just comparing rewards.

It involves aligning the card’s features with your company’s financial aspirations while providing valuable benefits.

The right card can not only streamline your business’s financial processes but can also contribute significantly to your bottom line through rewards and cost savings.

Action Tip: Take the time to ensure your chosen card fits seamlessly with your expenses and accounting systems.

Common Mistake: Don’t ignore the card's APR; even the best rewards can be undermined by high-interest rates on carried balances.

Remarkably, about 67% of businesses search for cards with introductory 0% APR, indicative of the value of cost savings in the initial stages of card ownership.

With this roundup of top business credit cards and insights into key considerations, your business is well-positioned to benefit from the right financial tool.

As you continue to navigate your business credit needs, keep these findings and tips in mind to make an informed decision.

Best Business Credit Cards FAQs

What should I consider when choosing a business credit card?

When choosing a business credit card, it's important to consider how the card's features align with your business's spending patterns and financial goals.

Look for cards with reward structures that match your most common expenses, evaluate annual fees versus benefits, examine the APR for carried balances, and ensure the card integrates well with your accounting systems.

How do the rewards on business credit cards work?

Rewards on business credit cards work by giving you points, cashback, or miles for every dollar you spend on the card.

Different cards offer different reward rates for various types of purchases, such as travel, office supplies, or telecommunications services.

Some cards also offer additional bonuses or higher rewards rates in specific spending categories that may rotate periodically or adapt to your spending.

Are business credit cards worth the annual fees?

Business credit cards can be worth the annual fees if the benefits, rewards, and savings outweigh the costs.

It’s essential to assess whether the rewards earned and the money saved through perks like travel insurance and free employee cards justify the annual fee.

Sometimes, the value of welcome bonuses alone can exceed the initial annual fees.

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Can I get a business credit card if I'm a freelancer or solo entrepreneur?

Yes, freelancers and solo entrepreneurs can qualify for business credit cards. Lenders often consider these types of professionals as small businesses.

You will typically need to provide your Social Security Number as the business's tax ID and detail your income from self-employed activities during the application process.

What is the importance of a 0% introductory APR offer on a business credit card?

A 0% introductory APR offer on a business credit card is important because it allows you to make purchases and carry a balance for a set period, typically 6-18 months, without incurring interest charges.

This can be particularly helpful for new businesses making initial investments, as it provides a window to manage cash flow more effectively before the standard APR applies.

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