Best Small Business Credit Cards of 2023

But watch out for the annual fee―this one comes with a whopping $695 charge. Again, if you’re just starting your first business, you’ll probably want to steer clear of American Express. You’ll save money by choosing a startup business credit card that doesn’t charge an annual fee.

As a result, consumer protections that many people take for granted with their regular credit cards—such as forbidding interest rate increases on existing balances—may not apply to their business cards. Travel perks are another common benefit, since many businesses have significant travel expenses. A business credit card might entitle the holder to use an airline’s VIP lounge at airports or receive discounts on hotel stays during business trips.

Capital on Tap Business Credit Card

Most business card issuers report your debt to business credit reporting services. Be sure to review your credit card agreement to understand which entities your debts and payments will be reported to, as well as the timing of those reports. Some business cards also come with higher annual fees of hundreds of dollars.

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers small businesses a way to mold their rewards structure to fit changing business needs. If you qualify for the Preferred Rewards program, this no-annual-fee card has the potential to easily earn you thousands of dollars in cash back each year. Read our full review of the Bank of America Business Advantage Customized Cash card.

More About the Best High Limit Business Credit Cards

2% cash back on dining purchases (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter). Earn 5X points on prepaid hotels and car rentals booked directly in the Rewards Center. Earn 4X points on travel, gas and EV charging stations on the first $150,000 in combined annual spend.

Issuers may provide a few employee cards for free while other issuers may charge a fee per card. This lets potential lenders and credit card issuers know how responsible a business owner is with business debts. Card issuers look at both personal and business credit history to decide whether someone qualifies for a credit card and what what is business credit cards the credit limit for a new line of credit will be. Issuers may report card activity to business credit bureaus, including Dun & Bradstreet, Experian Business Credit and Equifax Small Business. Small business owners are considered to have limited or no credit if they’ve owned their own credit card or loan for less than three years.

Who can apply for a small-business credit card?

Claire is a senior editor at Newsweek focused on credit cards, loans and banking. Her top priority is providing unbiased, in-depth personal finance content to ensure readers are well-equipped with knowledge when making financial decisions. With online applications, it’s possible that you could receive approval for a business card within 48 hours. However, some credit card companies can take as long as 10 days to reach an approval decision.

The Hilton Honors American Express Business Card can be an excellent choice for cardholders who spend a lot of money on business travel and hotels. The card earns 12 points per dollar at hotels and resorts in the Hilton portfolio, 6 points per dollar on select business and travel purchases and 3 points per dollar on other eligible purchases. For a card with no annual fee, the American Express Blue Business Cash Card offers a particularly generous earning rate – 2% back on your first $50,000 in purchases every year, then 1% and 1% back on everything else.