Best Small Business Credit Cards of 2020

Last updated Mar 2, 2020 | By FinanceBuzz Editors

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You don't need to own a big business to see big rewards from a business credit card. Whether you're looking for bonus cash back on office supplies, a way to build business credit, or a card with no annual fee and a long 0% introductory APR period, there's a business card that will meet your needs.

Generous sign-up bonuses also sweeten the deal for small business owners and will likely leave you wanting to apply for multiple cards to take advantage of all the introductory offers and other cardholder perks. Hopefully, one of the cards below offers just the perks and rewards that you're looking for to get the maximum benefit from your company card.

Special Offer

Earn 100,000 points after spending $15,000 in the first 3 months

Why We Like It

For business owners looking for a rewards card with premium benefits, the Ink Business Preferred card is a standout option. It has a lucrative sign-up bonus, valuable rewards program, and flexible redemption options.

With this card, you’ll earn 3X points per $1 spent on up to travel, shipping purchases, internet, cable, and phone services, and advertising purchases made on social media sites and search engines — up to $150,000 in combined spending each year.

It also has comprehensive travel benefits, including trip cancellation and interruption insurance, primary car rental insurance, and cell phone protection.

Credit Needed: Good - Excellent

Special Offer

Earn $500 bonus cash back after spending $3,000 in the first 3 months

Why We Like It

If you’re a freelancer, independent contractor, or small business owner in need of a business credit card that offers valuable rewards, consider the Ink Business Cash card. It has no annual fee, a valuable sign-up bonus for new cardmembers, and rewards for common business purchases.

You don’t even need an Employer Identification Number (EIN) to apply; sole proprietors and people who run side hustles can take advantage of this card’s benefits, too.

With the Ink Business Cash card, you’ll earn 5% cash back at office supply stores and on internet, cable, and phone services — up to $25,000 spent combined each year. You’ll also earn 2% cash back at gas stations and restaurants, on up to $25,000 spent combined each year.

Credit Needed: Good - Excellent

Special Offer

Earn $500 bonus cash back after spending $3,000 in the first 3 months

Why We Like It

The Chase Ink Business Unlimited card is best for business owners who want a simple, easy-to-use rewards card. It has an easy-to-earn signup bonus, a flat rewards structure on all purchases, and an introductory APR offer on purchases that can help you save money. And, there’s no annual fee.

You’ll earn a flat 1.5% cash back on every purchase you make, with no limit on how much you can earn.

If you have a major purchase coming up for your business, you can take advantage of this card’s 0% introductory APR. You’ll get 0% APR on purchases for 12 months after account opening, giving you a full year to pay down your balance without paying interest charges.

Credit Needed: Good - Excellent

Special Offer

30,000 Brex Rewards points upon sign-up

Why We Like It

Brex for Startups is a great option for business owners who have at least $100,000 in their business bank account and are looking for a business card that doesn't require a personal credit check or security deposit.

Cardholders enjoy 7X points on rideshare purchases, 4X points on Brex Travel, 3X points on restaurants, 2X points on software subscriptions, and 1X points on all other purchases. All this with no annual fee and no foreign transaction fees.


How to pick the right card for your business

No two businesses are alike and different company owners will have their own unique needs when it comes to the perfect small business credit card. To find one that's right for you, consider:

  • How much you plan to spend on your card: Some cards have maximum spending limits within bonus rewards categories; others offer extra perks for big spenders. Consider your average budget and how much you can comfortably spend each month.
  • What type of spending you do the most: Business credit cards often offer bonus rewards for different spending categories, and you'll want a card that gives you extra points for the things your company spends the most on. 
  • What kinds of rewards you're interested in: Some cards offer the chance to redeem for cash back, whereas others allow you to trade points for travel or merchandise. Some even allow you to use your points with partner rewards programs. Consider how much redemption flexibility you need and which rewards excite you. 
  • How many employee cards you need: If you have lots of staff who need to charge purchases to your account, free employee cards will be an important perk. 
  • Can you afford — and justify — an annual fee: There are both free business cards and cards that charge you to become a cardholder. Paying an annual fee is worth it only if you'll earn enough rewards to justify the fee or if the cardholder perks make the fee worth paying.

FAQs

How do I get a business credit card for my business?

To obtain a business card for your company, research your options and submit an online application.

You can use your company's EIN to apply if your business is well-established. Otherwise, you'll likely want to use your personal Social Security number and apply as a sole proprietorship. 

You'll also need to provide details about your business structure and annual revenue. Based on the information you provide, the credit issuer will either approve or deny your request for credit.

Does applying for a business credit card affect personal credit?

Applying for a business card can affect your personal credit if you apply with your Social Security number, as this will result in an inquiry on your personal credit report.

Some business card issuers will report all information from your business card on your personal credit report; others report only negative information.

How many credit cards should a small business have?

The right number of credit cards depends on your company's needs. Some businesses do fine with just one good card that offers generous rewards for everyday spending or for the kind of spending the company does most often. Other businesses benefit from having multiple cards so they can take advantage of different perks or earn the maximum rewards for different kinds of spending.

Can I get a business credit card for personal use?

The definition of what constitutes a "business" for obtaining a business card is pretty relaxed. Although you shouldn't lie on your application, you can often qualify with something as simple as selling a few items on eBay or listing crafts in an Etsy store.

Once you obtain a business card, the card issuer usually won't prevent you from using it for personal use. But if you obtained the card in the name of your business and want to maintain your company's separate legal identity, or you have business partners or shareholders, you typically shouldn't use the company card for personal purchases.

Can you have a business credit card without a business?

Although you do need to have some type of business to get a business card, credit issuers are pretty lax in their requirements for what they consider to be a business.

If you make some money selling things online, babysitting, or walking the neighbor's dog, technically you could use these activities as your business and apply for a business card. Just be honest on your application and realize not every card issuer will necessarily approve you.

How we chose these cards

To select the best small business cards, we looked for cards that offer valuable perks for businesses of all sizes. We looked at the value of these rewards, as well as the welcome bonus, compared to the annual fee. We did not include all cards available.

Up to 5% Cash Back

Benefits

  • $500 cash back sign-up bonus
  • No annual fee
  • 0% intro APR on purchases for 12 months
  • Up to 5% cash back