Choosing the right corporate credit card for a small business can be transformative. The best card can help streamline expenses, improve cash flow, and even provide valuable perks that make managing the business smoother. But with so many options available, it can be challenging to know which corporate credit card is ideal for your unique needs. Here’s a look at some of the top corporate credit cards for small businesses, along with key features to consider to make the best choice.
1. American Express Business Platinum Card
The American Express Business Platinum Card is a popular choice for small businesses, particularly those with frequent travel needs. It offers impressive travel benefits, including access to airport lounges, travel insurance, and rewards points on travel expenses. These points can often be redeemed for flights, hotel stays, and more, providing substantial savings for businesses that send employees on regular trips.
Another benefit of the AmEx Business Platinum is its flexible payment options. While the card encourages businesses to pay off their balances each month, it also offers a “Pay Over Time” feature, allowing companies to finance certain charges. However, this card is best for businesses with strong cash flow because of its high annual fee. The perks may outweigh the cost for companies that can leverage the travel and business rewards effectively.
2. Chase Ink Business Preferred Credit Card
For small businesses looking for a high rewards rate, the Chase Ink Business Preferred Credit Card is an excellent choice. This card offers substantial points on common business expenses such as advertising, travel, shipping, and internet or phone services. The rewards points can be redeemed for cash back, travel, or gift cards, and points are often worth more when redeemed through the Chase Ultimate Rewards portal.
In addition to rewards, Chase Ink Business Preferred offers travel and purchase protection, including trip cancellation insurance, which can be a valuable safeguard for business travelers. With a moderate annual fee and a generous welcome bonus, this card appeals to small businesses looking to maximize their spending power.
3. Capital One Spark Cash Plus
Capital One Spark Cash Plus stands out for its straightforward cash-back rewards system, ideal for small business owners who prefer simplicity. This card offers unlimited 2% cash back on every purchase, without requiring any specific spending categories. For businesses with consistent monthly expenses across different categories, this card is a great option for maximizing rewards without extra work.
Spark Cash Plus also comes with some additional benefits for small business owners, including expense management tools and quarterly and year-end summaries to simplify bookkeeping. There is an annual fee, but the potential cash-back earnings can offset this cost for businesses with steady spending.
4. Brex Card for Startups
Designed with startups and tech-focused businesses in mind, the Brex Card is unique in that it does not require a personal guarantee, making it an appealing option for small business owners who want to keep their personal credit separate from their business. Brex bases its credit limit on a business’s cash flow and financial backing rather than the owner’s personal credit, which can be a huge plus for new businesses.
The Brex Card also provides high rewards on tech, dining, and travel spending categories. Additionally, it integrates seamlessly with financial software like QuickBooks and Expensify, making it easy for companies to manage their expenses. There’s no annual fee, which is a plus for budget-conscious startups.
5. U.S. Bank Business Leverage Visa Signature Card
The U.S. Bank Business Leverage Visa Signature Card offers double rewards points on the top two spending categories where the business spends the most each month. This makes it an attractive choice for businesses with varying monthly expenses, as they don’t have to select specific categories in advance to earn extra points. Categories include marketing, office supplies, travel, and even shipping, offering versatility for different types of businesses.
This card also provides useful perks, such as a concierge service and employee cards at no extra cost, along with fraud protection tools. The U.S. Bank Business Leverage card does have an annual fee, but the flexible rewards structure may make up for it, particularly for companies with fluctuating expense patterns.
Choosing the Right Card for Your Business
To decide which corporate credit card is ideal for your small business, consider these key factors:
- Spending Patterns: If your business spends significantly on travel, a card with travel perks like the AmEx Business Platinum may be the best choice. If you have regular but varied expenses, a card with adaptable rewards like the U.S. Bank Business Leverage Card could be beneficial.
- Cash Flow: Some cards, like Brex, don’t require a personal guarantee and assess business creditworthiness in a unique way. This can be a great option for startups that may not yet have a strong cash flow.
- Rewards and Fees: Weigh the rewards and perks against any annual fees. For high-spending businesses, a card with a higher annual fee may still deliver positive value if the rewards offset that cost. On the other hand, simpler cash-back cards, like the Capital One Spark Cash Plus, may be more suitable for businesses with straightforward spending.
Choosing the right corporate credit card for your small business can improve cash flow, streamline bookkeeping, and even offer perks that can be reinvested back into the company. By analyzing spending habits and business needs, you can select a card that brings the most value and best supports your company’s growth.
