June 5, 2023
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The American Express Blue Business Cash™ Card is the best credit card for startup businesses — you’ll get 2% cash back on up to $50,000 in purchases each calendar year, redeemable for statement credits.
When you’re moving full speed ahead to launch an innovative new company, making sure your business records are separate from your personal finances can save you time and prevent headaches down the road. One way to do that is to open a business credit card for your startup. The best business credit cards for new businesses can help you manage your cash flow and separate your business spending from your personal life, as well as offer rewards and helpful benefits.
Small startups of many types may qualify for a business credit card, including sole proprietorships, LLCs, freelancers and more. And if you don’t already have an established business credit history, don’t fret — many issuers will look at your personal credit history to approve you and establish your credit limit.
The American Express Blue Business Cash™ Card is our overall pick for the best business credit card due to its combination of 2% cash back on purchases (up to $50,000 per calendar year), an introductory APR offer and no annual fee. Cash back is easily redeemed for statement credits.
Security deposit: No deposit required
Fees: No annual fee
Who’s this card best for?
If your startup needs a business card with no annual fee and an excellent flat cash back rate, The American Express Blue Business Cash™ Card might be the card for you. Your cash back is automatically redeemed as a statement credit to your account each month, keeping things simple.
With its intro APR period on purchases and a decent welcome offer, this card is also a fine choice for making a big purchase for your new business. You’ll get an intro APR of 0% on purchases for 12 months from date of account opening (followed by a 18.49% - 26.49% Variable APR). In other words, you’ll get a year to pay off your purchase with no interest and you can use the cash back from the welcome offer to help pay it off.
This card also gives you flexibility in making large purchases through Expanded Buying Power. Amex may allow you to spend above your credit limit, based on factors including your payment history, credit record and financial resources that the issuer is aware of. Note that whenever you spend above your credit limit, the amount above your limit needs to be paid in full by your due date.
To see rates & fees for The American Express Blue Business Cash™ Card please click here.
While the top business credit cards require good or excellent credit, the Capital One Spark Classic for Business only requires fair credit. It also offers cash back rewards on all purchases with no annual fee.
Security deposit: No deposit required
Fees: No annual fee
Who’s this card best for?
If you don’t have a solid credit history with excellent credit, you may not qualify for many of the top business credit cards. And while a secured credit card may be an option, another possibility is an unsecured or traditional credit card that doesn’t require such elevated credit.
The Capital One Spark Classic for Business is one of the best starter business credit cards because it’s open to those with only fair credit. Plus, it doesn’t charge an annual fee, making it a better option than many unsecured cards for people with low credit scores. It even lets you earn rewards on every purchase.
If you can’t qualify for an unsecured card, you might also consider a secured business credit card. The Business Advantage Unlimited Cash Rewards Secured credit card is an attractive option, with no annual fee and the ability to transition to an unsecured credit card eventually.
Security deposit: $1,000 minimum security deposit
Fees: No annual fee
Who’s this card best for?
The Business Advantage Unlimited Cash Rewards Secured credit card is best for business owners who can’t qualify for an unsecured business credit card and want a solid cash back rewards card. You’ll earn Unlimited 1.5% cash back on all purchases, every time with no annual fee.
You will have to put down an initial deposit which serves as your card’s credit limit. Over time, however, Bank of America will review your account, spending and payment history, and may upgrade you to an unsecured card and refund your deposit.
One of the best benefits of the American Express® Business Gold Card is that the bonus spending is tailored to your specific business. You’ll get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month* (on the first $150,000 in combined purchases from these 2 categories each calendar year). This makes it a great option for online and other businesses.
Security deposit: No deposit required
Fees: $295 annual fee
Who’s this card best for?
The American Express® Business Gold Card is best for businesses that do a lot of spending across many different categories. You can get 4 points per dollar spent on the top two categories where your business spends each month.
The categories are:
The best part is that the bonus categories can change each month, making it a great option if your spending changes from month to month. (Note that the list includes qualifying computer hardware and software purchases, making it the best credit card for tech purchases out of our picks.) Plus, the points that you earn are flexible and can be redeemed for a variety of travel purchases, including transfers to more than 15 hotel and airline loyalty programs.
To see rates & fees for American Express® Business Gold Card please click here.
If you’re looking for a business credit card with an excellent sign-up bonus, the Ink Business Preferred® Credit Card may be right for you. With a high welcome offer and attractive bonus spending categories, this card can be a great option for startups or other businesses.
Security deposit: No deposit required
Fees: $95 annual fee
Who’s this card best for?
The Chase Ink Business Preferred® Credit Card is a great option for startups and small businesses who want an excellent business credit card with an outstanding sign-up bonus. Currently, you can earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That’s worth $1,250 if you redeem your points for travel — and possibly even more if you transfer your points to Chase’s hotel and airline travel partners.
The Ink Business Preferred® Credit Card also comes with bonus spending categories that can be attractive for many businesses. You can earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. If your business does a lot of spending in those categories, it’s yet another reason to consider the Ink Business Preferred® Credit Card.
The Business Platinum Card® from American Express comes with a hefty annual fee, but also has outstanding luxury and travel benefits. If you frequently travel for your startup, you can more than justify the annual fee with over $1,000 in statement credits and access to the American Express Global Lounge Collection®.
Security deposit: No deposit required
Fees: $695 annual fee
Who’s this card best for?
With a $695 annual fee, the Business Platinum Card® from American Express is certainly not for everyone.
But if you need an unparalleled list of credits and benefits that can help you supercharge your startup, this might be exactly the card you need. Here is a sampling of the card’s sprawling list of benefits:
To see rates & fees for The Business Platinum Card® from American Express please click here.
U.S. Bank Business Platinum Card features one of the longest introductory periods around for both purchases and balance transfers. You’ll get a 0% intro APR on purchases for 18 billing cycles and a 0% intro APR on balance transfers for 18 billing cycles, after which a 17.24% to 26.24% APR applies.
Security deposit: No deposit required
Fees: $0 annual fee
Who’s this card best for?
If you need to spend big to get your startup off the ground and want a lengthy intro APR card to use for paying off your purchases, the U.S. Bank Business Platinum Card is the card to get.
Plus, if you’re carrying a balance on another credit card, this card’s intro APR on balance transfers can give you a generous amount of time to whittle down that balance. Other business cards may serve you better if you want to rack up rewards or get a big sign-up bonus, but this one excels when you need maximum time without paying interest.
| Credit Cards | Annual Fee | Welcome Offer | Rewards Rate | Intro Purchase APR | Regular APR | Recommended Credit | |
|---|---|---|---|---|---|---|---|
The American Express Blue Business Cash™ Card
|
No annual fee | N/A | Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% | 0% on purchases for 12 months from date of account opening | 18.49% - 26.49% Variable | Excellent/Good | |
|
Capital One Spark Classic for Business
|
$0 | N/A | Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel | N/A | 30.49% (Variable) | Fair | |
|
Business Advantage Unlimited Cash Rewards Secured credit card
Review Coming Soon
|
$0 | N/A | Unlimited 1.5% cash back on all purchases | N/A | 28.49% variable | N/A | Review Coming Soon |
American Express® Business Gold Card
|
$295 | Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.* | Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month* | N/A | 19.49% - 27.49% Variable | Excellent/Good | |
|
Ink Business Preferred® Credit Card
|
$95 | Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. | Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. | N/A | 21.24% – 26.24% Variable | Excellent | |
The Business Platinum Card® from American Express
|
$695 | Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership. | 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases. | N/A | 19.49% - 27.49% Variable | Excellent/Good | |
|
U.S. Bank Business Platinum Card
|
$0 | N/A | N/A | 0% intro APR on purchases for 18 billing cycles | 17.24% to 26.24% | Excellent/Good |
Usually a business credit card application will require you to submit information about your business, which means you’ll need a qualifying business to apply. But a wide variety of businesses may fit an issuer’s criteria.
You often don’t have to have an LLC or be officially registered with the government to get a business credit card. You may be able to qualify for a business card with a sole proprietorship, partnership, LLC, S corporation, C corporation or many other types of business. In additon, many issuers won’t require a brick and mortar business — you can have a business that you run out of your home, using your personal address.
Understand your credit score
Make sure you look at both your personal credit report and your business credit history. This can help you understand which business cards you might be eligible for and improve your approval odds.
Decide on a charge card versus a credit card
A charge card requires you to pay your balance in full each month. If you think your business’s cash flow will require you to carry a balance month to month, you might consider a credit card instead.
Evaluate your spending
Many business credit cards offer rewards in different spending categories. Check your business’s typical spending to see which card might make the most sense for you.
Consider a card's fees
Some (but not all) business credit cards come with fees. In fact, if you have a limited or damaged credit history, many of your card options may include substantial annual and monthly maintenance fees. Be sure to scan the fine print for all the fees to evaluate whether an offer makes sense for you.
Apply for your new card
Once you’ve decided on the best business credit card for you, gather your application information and apply for your new card.
Use your card responsibly
After you get your new card, make sure to use it responsibly. Make a plan to always pay your bill off in full, each and every month and consider setting up automatic payments.
Many issuers will look at both your business and personal credit history. So if you have good personal credit, you may be approved for a business credit card, even if your business has no credit history. If you have neither business nor personal credit history, you’ll likely want to build up your credit profile before applying for a business credit card. You may even consider applying for a secured credit card to jump start your credit history.
Here are a few things you’ll want to do to maximize the value of your first business credit card:
Yes, you can use an Employee Identification Number (EIN) to get a credit card, though many business credit card issuers also require personal information, like your Social Security number. However, some corporate credit cards allow you to get a business credit card with only an EIN.
Building business credit works in much the same way as building personal credit. Your business credit improves as you show that you’ve reliably paid your obligations. Responsibly using a business credit card can be one way to establish business credit. Consistently paying service bills like internet, cellphone or other utilities in the name of your business may also help your business credit.
Yes, many businesses do have their own credit report and credit score, separate from the credit reports and scores of the owner or any employees. There are three main business credit bureaus — Dun & Bradstreet, Equifax and Experian. These credit bureaus collect business credit information in much the way that Equifax, Experian and TransUnion collect information about individuals.
Yes, you can open a business credit that is in your LLC’s name, and that can be one way to help your business build credit. Still, most business card issuers will also require you to include your personal information and personally guarantee the card. These issuers will look at both your personal credit and the credit of your business to determine whether to approve the application.
If you’re applying for a small business credit card, you as the business owner are personally responsible for what’s charged to the card. Some issuers only report business card activity to your personal credit if you fall behind on payments or incur other negative marks, but that’s not always the case. Some issuers may report your full payment history for your business credit card accounts to your personal credit.
In selecting the best business credit cards for startups, we considered factors including reward programs, annual fees and helpful features, such as no preset spending limit or statement credits for travel expenses.
Most of the cards on this list have generous rewards programs. In addition, the one business card here that doesn’t earn rewards still offers a lengthy period of intro APR that can make it worthwhile if your startup is planning a big purchase and will need time to pay it off.
Some of the cards here charge annual fees and some do not. For those that do, taking advantage of rewards, sign-up bonuses or welcome offers, as well as any credits offered, can help recoup the annual fee amount.
Finally, certain cards fill a truly unique niche. For example, The Business Platinum Card® from American Express offers what may well be the widest ranging airport lounge access available with a travel card. For business owners who fly regularly throughout the year, that benefit offers substantial value.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
To see rates & fees for The American Express Blue Business Cash™ Card please click here.
To see rates & fees for American Express® Business Gold Card please click here.
To see rates & fees for The Business Platinum Card® from American Express please click here.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
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