The Best Business Credit Cards of 2024

When running a business, every financial decision can have a significant impact. One of the smartest financial tools entrepreneurs can utilize is a business credit card. The best business credit cards offer specialized perks tailored to company expenses, travel, and cash flow management. If used strategically, these cards can help maximize savings, earn rewards, and even provide essential tools for expense tracking. Below, we’ll explore some of the best business credit cards available in 2024, highlighting their top features and how they can benefit business owners.

The Best Business Credit Cards of 2024: Maximize Rewards and Benefits for Your Company

Why You Should Get a Business Credit Card

Before diving into the top business credit cards, let's discuss why having one is essential. For small business owners, a dedicated business card simplifies bookkeeping, builds business credit, and often comes with rewards programs that align with company spending.

Many business credit cards also come with higher credit limits than personal cards, which allows companies to finance larger purchases without tapping into personal funds. By leveraging a card's rewards, discounts, and benefits, entrepreneurs can effectively manage cash flow and reduce the costs associated with running a business.

Top Business Credit Cards to Consider in 2024

Here are some of the best business credit cards currently on the market, each catering to different business needs:

1. Chase Ink Business Preferred® Credit Card

Best for: Flexible rewards and travel benefits

Key Features:

• Welcome bonus: Earn 100,000 bonus points after spending $15,000 on purchases in the first three months. These points are worth $1,250 when redeemed through Chase Ultimate Rewards®.

• Rewards structure: Earn 3 points per $1 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.

• Annual fee: $95

• Foreign transaction fees: None

Why It’s Great: The Chase Ink Business Preferred® card is one of the best business credit cards for companies seeking a combination of high rewards and travel benefits. Its rewards structure is specifically tailored to business expenses, while its travel perks can be maximized through the Chase Ultimate Rewards program, which allows point transfers to various airline and hotel partners.

2. Ink Business Premier Credit Card

Best for: Large business purchases

Key Features:

• Welcome bonus: Earn a generous amount of cash back after spending a specified amount in the first three months (specific details may vary based on promotions).

• Rewards structure: Earn cash back on every purchase, with additional rewards for large transactions.

• Annual fee: Generally around $195 (check for updates as promotions may change).

• Foreign transaction fees: None

Why It’s Great: The Ink Business Premier Credit Card is ideal for companies making large purchases. It offers cash back rewards that cater to businesses spending heavily on supplies, equipment, or large orders. Its unique rewards structure allows companies to earn significant cash back, making it one of the best business credit cards for high spending.

3. American Express Business Gold Card

Best for: Customizable rewards categories

Key Features:

• Sign-up offer: Receive 70,000 Membership Rewards® points when you spend $10,000 within the first three months.

• Rewards structure: Earn 4X Membership Rewards® points on the two categories where your business spends the most each month (up to $150,000 per year, then 1X).

• Annual fee: $295

• Foreign transaction fees: None

Why It’s Great: The American Express Business Gold Card allows businesses to customize rewards based on spending habits. The card automatically adjusts to your highest spending categories, such as advertising, travel, or software, making it ideal for companies with varied expense types. This flexibility ensures that you're always earning the maximum points where your business spends the most.

4. Capital One Spark Cash Plus

Best for: Straightforward cash back rewards

Key Features:

• Welcome bonus: Earn up to $1,000 in the first six months – $500 after spending $5,000, and an additional $500 after spending $50,000.

• Rewards structure: Earn unlimited 2% cash back on every purchase, regardless of category.

• Annual fee: $150

• Foreign transaction fees: None

Why It’s Great: For business owners who prefer a simple and straightforward cash-back system, the Capital One Spark Cash Plus is one of the best business credit cards to consider. It provides 2% cash back on all purchases, so there is no need to track spending categories. Additionally, the card doesn't have a pre-set spending limit, which can be beneficial for companies with fluctuating monthly expenses.

5. Brex Card for Startups

Best for: Startups and venture-funded companies

Key Features:

• Welcome bonus: Receive up to 50,000 points or a $500 statement credit.

• Rewards structure: Earn 7X points on rideshare, 4X on travel booked through Brex, 3X on dining, 2X on software, and 1X on all other purchases.

• Annual fee: $0

• Foreign transaction fees: None

Why It’s Great: The Brex Card is designed specifically for startups, with no personal guarantee required. It is one of the few business credit cards that doesn’t require founders to use their personal credit for approval. This card offers a competitive rewards program aligned with common startup expenses such as ridesharing and software, making it a suitable option for young, tech-driven companies.

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

Best for: Everyday business expenses with no annual fee

Key Features:

• Welcome bonus: Earn 15,000 Membership Rewards® points after spending $3,000 within the first three months.

• Rewards structure: Earn 2X Membership Rewards® points on the first $50,000 in purchases annually, then 1X point per dollar.

• Annual fee: $0

• Foreign transaction fees: 2.7%

Why It’s Great: If you’re looking for a simple and reliable rewards card with no annual fee, The Blue Business® Plus Credit Card is one of the best business credit cards for small businesses. It offers double the rewards on the first $50,000 of spending each year, which is ideal for everyday business expenses like supplies, fuel, or dining.

How to Choose the Best Business Credit Card

Selecting the right business credit card depends on your company’s specific needs and spending habits. Here are some factors to consider:

1. Rewards Structure

Think about where your business spends the most. If travel is a significant part of your expenses, opt for a card that offers travel rewards. If most of your costs are on everyday purchases, a cash-back card might be better.

2. Annual Fees

Many cards offer no annual fee, while others have fees ranging from $95 to over $500. If a card with a higher annual fee provides valuable perks and rewards that outweigh the cost, it can still be a worthy investment.

3. Welcome Bonuses

Welcome bonuses can provide significant savings in the first year. Ensure you can meet the minimum spending requirement to qualify for the bonus.

4. Foreign Transaction Fees

For businesses with international dealings, choose a card with no foreign transaction fees to avoid extra charges.

Maximizing Your Business Credit Card Benefits

Once you select one of the best business credit cards, use these tips to maximize its benefits:

1. Track Expenses and Rewards: Many cards come with tools that integrate with accounting software, making it easy to track spending.
2. Pay Off Balances in Full: Avoid interest charges by paying your balance monthly.
3. Redeem Rewards Wisely: Use points for high-value redemptions such as travel or gift cards.
4. Manage Employee Cards: Set spending limits to monitor employee expenses effectively.

Conclusion

Choosing the right business credit card can greatly benefit your company by offering rewards, cash-back opportunities, and tools to streamline expense tracking. Whether you’re interested in cards like the Chase Ink Business Preferred®, Ink Business Premier Credit Card, or Capital One Spark Cash Plus, there is an option to fit every business's needs.

By strategically using one of the best business credit cards, you can reduce operating costs, earn rewards, and reinvest those savings into growing your business. Take the time to compare features, rewards, and fees to find the card that aligns perfectly with your business objectives.