Getting a business credit card can provide small-business owners with a great asset. You can earn rewards, net big-time sign-up bonuses and even finance large purchases interest free by opening the right business credit card.
Applying for a business credit card may seem overwhelming, especially as a new business owner. But you can get a card in three steps with just a little preparation. Here's how.
Approval for small-business cards is based largely on your personal credit score, so getting a business credit card as a startup or new businesses isn't tougher than if your company is more established. Most cards require good or excellent credit, typically a personal FICO score of 690 or higher, though there are secured business cards for entrepreneurs with bad credit.
Have bad personal credit but strong revenue or venture funding? Consider a corporate card like Brex or Ramp, which base approval on your business’s finances, not your personal credit score.
Narrow your options to the type of small-business card that best fits your business needs. Then, compare features, perks, rates, fees and reward options to find the best card for your small business.
If you need to finance a large purchase or consolidate existing debt: Consider a business card with a 0% introductory APR on new purchases and balance transfers. A card that offers ongoing rewards along with an intro APR period is a better long-term bet than one with just a 0% offer.
The Blue Business® Plus Credit Card from American Express
, for instance, charges a 0% intro APR on Purchases for 12 months, and then the ongoing APR of 18.24%-26.24% Variable APR
. The $0
annual fee and ongoing rewards (up to 2% cash back) make it an easy card to keep carrying once the introductory interest rate ends. Terms apply (see rates and fees).
American Express
The Blue Business® Plus Credit Card from American Express
NerdWallet Rating
4.9
Annual Fee
$0
If you want a simple, versatile card: Cash back business credit cards are among the most versatile because your rewards can typically be redeemed as a statement credit or deposited into a connected bank account.
Flat-rate cards earn the same rewards rate for all purchases and are a good bet if you don’t spend heavily in one specific category. For example, the
Capital One Spark Cash Plus
card offers 2% cash back on all purchases, plus this sign-up bonus: Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening.
The annual fee is $150
.
If you want to maximize rewards in the areas you spend most: Cash back business cards with bonus categories deliver great value when they align with your spending habits.
The
Ink Business Cash® Credit Card
, for example, earns 5% cash back on the first $25,000 per anniversary year in purchases at office supply stores, and on internet, cable and phone services; 2% cash back on the first $25,000 per anniversary year in purchases at gas stations and restaurants; and 1% everywhere else.
If you spend a lot of time on the road (or in the air) for business travel: A business travel card that earns extra points on travel-related expenses can offer added value via traveler-friendly perks like lounge access and airline credits. Similar to cash back cards, you’ll find travel cards either offer flat-rate rewards or tiered rewards with certain categories earning a higher rate.
The Business Platinum Card® from American Express
, for instance, offers lots of extras in exchange for its steep annual fee of $695
. First, there's a rich welcome bonus: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership. Terms Apply.
You'll earn 5 Membership Rewards points on flights and prepaid hotels booked through the American Express Travel website, and 1 point for each dollar you spend on eligible purchases. You also earn 1.5 points on eligible purchases at U.S construction material and hardware suppliers, electronic goods retailers, software and cloud system providers, and shipping providers — as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
You’ll also get up to a $200 annual airline fee credit, a $189 credit toward the cost of a Clear membership, airport lounge access, and more. Terms apply (see rates and fees).
American Express
The Business Platinum Card® from American Express
NerdWallet Rating
5.0
Annual Fee
$695
Trying to keep fees low? The
$0
-annual-fee Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
and the Capital One Spark Miles for Business
card ($0 intro for the first year, then $95
) offer sign-up bonuses and earn rewards on every purchase.Applying for a small-business card is relatively straightforward. You’ll provide much of the same information as you would for a personal credit card, along with additional details about your business (industry, revenue, etc.).
- Business name, address and phone number.
- Annual revenue, number of employees and years in business.
- Type of business, industry and legal structure.
- Estimated monthly spending.
- Employer identification number (EIN) if you have one.
You also need to provide personal information, including your name, birthdate, Social Security number, home address, email, phone number, annual income, and monthly rent or mortgage payment.
🤓 Nerdy Tip
Almost all business credit cards require your Social Security number when you apply, but a handful of cards let you apply using just your employer identification number, or EIN.Frequently Asked Questions
Any business owner can apply for a business credit card; that includes sole proprietors, freelancers, gig workers and independent contractors.
Having a dedicated credit card for your small business makes it easy to separate business and personal expenses, identify tax deductions and build your business credit history.
While there are bad credit business cards, you typically need a personal FICO score of 690 or higher to be approved for a business credit card — though some business cards set an even higher bar. The Capital One Spark Cash Plus requires excellent credit (a 720+ FICO score), as does the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.
Secured business credit cards, on the other hand, typically don’t have a minimum credit score requirement. And you can qualify for a corporate credit card without a personal credit check, though these have other requirements, including minimum revenue and annual spend.
To view rates and fees of
The Blue Business® Plus Credit Card from American Express
, see this page. To view rates and fees of The Business Platinum Card® from American Express
, see this page.Compare Cards
Annual fee $0 | Annual fee $150 | Annual fee $0 |
Regular APR 18.24%-26.24% Variable APR | Regular APR N/A | Regular APR 17.99%-23.99% Variable APR |
Intro APR 0% intro APR on purchases for 12 months from the date of account opening | Intro APR N/A | Intro APR 0% intro APR on Purchases for 12 months |
Recommended credit score 690-850good - excellent | Recommended credit score 720-850excellent | Recommended credit score 690-850good - excellent |