Best Business Credit Cards for Small Businesses: 2023 Guide

Running a small business comes with a lot of expenses. You need to pay for everything from supplies and inventory to rent and utilities. And let's not forget about marketing and advertising. That's why it's important to have a good business credit card.

A business credit card can help you manage your business expenses, build your business credit, and earn valuable rewards.

But with so many different business credit cards available, how do you choose the right one for your small business?

Factors to Consider When Choosing a Business Credit Card

• Rewards: What type of rewards are most valuable to you? Some cards offer cash back, while others offer travel miles or points.
• Sign-up bonus: Some cards offer a sign-up bonus for spending a certain amount of money within the first few months of account opening.
• Annual fee: Do you mind paying an annual fee for the benefits of a business credit card?
• Interest rate: You will want to choose a card with a low interest rate if you think you might carry a balance.
• Perks: Some business credit cards offer additional perks, such as travel insurance or purchase protection.
• Credit limit: How much credit do you need? Choose a card with a credit limit that meets your business needs.
• Eligibility requirements: Make sure you meet the eligibility requirements for the card you are considering. This may include having good personal credit or a business credit history.

Best Business Credit Cards for Small Businesses

Here are some of the best business credit cards for small businesses in 2023:

Best Overall: Chase Ink Business Preferred℠ Credit Card

• Rewards: Earn 3 points per dollar spent on travel, dining, and shipping purchases, plus 1 point per dollar on all other purchases.
• Sign-up bonus: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Annual fee: $95
• Interest rate: 17.24% - 24.24% Variable APR
• Perks: Includes travel insurance, purchase protection, and primary rental car coverage.
• Credit limit: Varies by applicant.
• Eligibility requirements: Good credit score is required.

Best for Travel: Capital One Venture X Rewards Credit Card

• Rewards: Earn 2 miles per dollar on all purchases.
• Sign-up bonus: Earn 75,000 bonus miles after you spend $4,000 on purchases within the first 3 months from account opening.
• Annual fee: $395
• Interest rate: 18.24% - 25.24% Variable APR
• Perks: Includes access to Capital One Lounges, Priority Pass airport lounge access, TSA PreCheck or Global Entry credit, and travel insurance.
• Credit limit: Varies by applicant.
• Eligibility requirements: Good credit score is required.

Best for Cash Back: U.S. Bank Cash+ Business Visa Signature Card

• Rewards: Earn 2% cash back on up to $2,500 in combined purchases each quarter in your choice of 5 spending categories, and 1% cash back on all other purchases.
• Sign-up bonus: Earn a $200 bonus after spending $1,000 on purchases in the first 90 days from account opening.
• Annual fee: None
• Interest rate: 17.24% - 24.24% Variable APR
• Perks: Includes purchase protection and extended warranty.
• Credit limit: Varies by applicant.
• Eligibility requirements: Good credit score is required.

Best for Startups: Amex Business Platinum Card®

• Rewards: Earn 1.25 Membership Rewards points per dollar spent on all purchases.
• Sign-up bonus: Earn 75,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
• Annual fee: $595
• Interest rate: 17.24% - 24.24% Variable APR
• Perks: Includes access to Centurion Lounges, Priority Pass airport lounge access, travel insurance, and purchase protection.
• Credit limit: Varies by applicant.
• Eligibility requirements: Excellent credit score is required.

Best for Small Business Owners: Wells Fargo Business Secured Credit Card

• Rewards: Earn 1.5% cash back on all purchases.
• Sign-up bonus: None
• Annual fee: None
• Interest rate: 17.24% - 24.24% Variable APR
• Perks: Includes purchase protection and extended warranty.
• Credit limit: Based on your security deposit.
• Eligibility requirements: You will need to make a security deposit equal to the credit limit you want.

Tips for Using a Business Credit Card

• Pay your balance in full each month: This will help you avoid interest charges and keep your credit utilization low.
• Use your card for business expenses only: Don't use your business credit card for personal expenses.
• Keep track of your spending: Use your card's online portal or mobile app to track your spending and ensure you are staying within your budget.
• Check your statement carefully: Make sure there are no errors or unauthorized charges on your statement.
• Make sure you are getting the most out of your rewards: Redeem your rewards for the best value possible.
• Manage your credit limit: Don't use more than 30% of your available credit.

Conclusion

The best business credit card for you will depend on your individual needs and preferences. Consider your spending habits, your business goals, and the rewards and perks that are most important to you.