Best Business Credit Cards

To create this list, Forbes Advisor analyzed over 100 business credit cards. Characteristics taken into consideration while judging each category were accessibility, dollar value of cash back or point rewards, APR, fees and additional benefits or protections offered by the card.

With the many different types of credit cards available, picking one for a business can be a lengthy process. Prospective cardholders have multiple factors to take into consideration before landing on a best-pick, including:

• How much will the card cost per year? Annual fees often cover membership benefits offered by cards. Prospective cardholders should calculate how much they’ll need to spend in order to accumulate enough rewards or cash back to offset the fee.
  
• How much will additional cards cost? Adding additional employee cards to an account can be a smart way to generate more rewards, but confirm how much each additional card will cost per year.
  
• How much are membership or rewards points worth? Some cards have high points per dollar offers, but when it comes to redeeming the points, they fall flat. Be diligent in evaluating each point value; if it’s less than one cent per point, it’s a weak offer.
  
• What are other fees associated with the card, aside from the annual fee? Pay close attention to the card’s terms and conditions to determine if there are fees associated with foreign transactions, late payments, overlimits and more.
  
• What is the APR? If your business needs to carry a balance, looking for a card with low interest rates, or interest-free promotional periods, can save money. Always remember that APRs are determined based on your creditworthiness, so the lowest interest rate presented in the terms and conditions might not be what you’re granted upon approval.
  
• Do I need a personal guarantee? Establishing business credit can be difficult, and some cards will require a personal guarantee. This means an individual, usually the one applying for the card on behalf of the company, will be held liable for any balances left unpaid on the card. For individuals who don’t want to be tied to their business account, there are cards available that don’t require a personal guarantee, such as the Brex Visa Commercial Credit Card.

Although these are Forbes’ top picks, there are numerous cards not listed that have attractive features. For example, the American Express Plum card offers a 1.5% early pay discount, but also allows cardholders to pay up to 60 days late without interest. For businesses with big spending, this card can be a flexible payment option. 

There are numerous loyalty-rewards business credit cards available through major companies including Delta, Marriott, JetBlue and American Airlines. For businesses that predominantly use one hotel chain or airline, these rewards cards can maximize earnings and discounts on purchases throughout the year. 

Additionally, prospective cardholders looking for intriguing business credit card offers should check with their local credit unions. Since these institutions are member-owned non-profits, they aren’t subject to the same profit pressures or corporate income taxes as large banks and are able to offer lower interest rates as a result. Credit unions can be a great place for brand new businesses to establish their credit.