Now is a crucial moment to keep tabs on every penny your company spends, even if you’re trying to cut back on business credit card costs. Separating your business and personal credit card spending is a huge time saver if you have the correct card.
Additionally, corporate credit cards provide access to increased expenditure and credit limits, which are vital when making expensive acquisitions for one’s enterprise. Especially with the low-interest rates currently available, credit cards can be a valuable financial tool.
Check out our top business credit cards of 2023 and see if one of them fits your company’s needs.
Ink Business Preferred
If you’re looking for a business credit card with a massive signup bonus, go no further than the Ink Business Preferred, which gives a whopping 100,000 points in exchange for an annual fee that’s among the lowest in the industry.
Any company that wants to earn variable points toward travel and gain access to premium perks like cell phone protection should apply for this card.
Spend $15,000 on expenditures during the first three months of account opening and receive 100,000 bonus points.
The Ink Business Preferred has a generous signup bonus of 100,000 points for new cardholders, yet meeting the spending requirement of $15,000 within the first three months is a significant time commitment. However, many organizations have consistent monthly costs that exceed that amount.
When it comes to loyalty points programs, Chase’s Ultimate Rewards is among the best. Chase offers 14 airline and hotel partners, including Hyatt, United, and British Airways, where you may transfer your points and get a 25% bonus when you make a redemption.
As a bonus, Ink Business Preferred offers mobile phone protection for you and any additional cardholders on your monthly account, provided that the full payment is made with the card each month. This implies that your staff (and maybe even their families) can be insured at no extra expense to you. Up to $600 per occurrence is covered, with a $100 deductible per claim. You are allowed to file three claims per calendar year.
However, the Ink Business Preferred’s bonus categories are less generous than some competing cards. You won’t get bonus points on some commonplace business expenditures like gas, restaurants, or office supply stores. Additionally, the annual limit on spending in the 3x categories is $150,000; beyond that, you’ll only receive 1 point for every dollar spent.
Blue Business Plus from American Express
The Blue Business Plus from American Express is a good option for companies that need an extended grace period to pay off significant purchases interest-free. For the first 12 months, the card’s annual percentage rate (APR) is 0% on purchases and then rises to a variable of 17.49%-25.49%.
This card is ideal for businesses with annual expenses of less than $50,000 that not only value the opportunity to earn travel points without paying a yearly fee but also could benefit from a promotional interest rate.
Spend $3,000 on qualified purchases within the first three months after creating your account, and you’ll get a 15,000-point bonus.
The Blue Business Plus credit card offers a 0% initial APR on expenditures for the first 12 months, making it an attractive option for businesses struggling to stay afloat. It would be best if you made every effort to settle your debts within that time frame, as the interest rate will fluctuate between 17.49%-25.49% once the initial 12 months have passed.
Spend up to $50,000 yearly on company expenditures with the Blue Business Plus and get 2 points per dollar. After that, you’ll earn 1 point for every dollar you spend, making this card better suitable for small firms that don’t have large expenditures throughout the year.
Suppose you plan to save up for future travel expenses. In that case, the Membership Rewards points gained with this card are versatile and essential. Amex Travel will let you redeem your points for travel at the cost of up to 1 cent per point. You can also transfer your points to any of American Express’s 20 airline and hotel partnerships for even more flexibility and redemption options.
Although Blue Business Plus can earn points toward free travel, the value of those points, converted to cash, is relatively low at just 0.6 cents each.
Check out the American Express Blue Business Cash Card alternative if you’d rather have cash back than travel rewards. The card is nearly identical to Blue Business Plus in terms of benefits. Still, its primary distinction is that cardholders earn money back rather than points.
Capital One Spark Miles for Business
You can earn 2 miles per each dollar you spend on the Capital One Spark Miles for Business and then use those miles to pay for travel at a flat rate of 1 cent per mile, or you can transfer them to one of Capital One’s airline partners and use them there.
Larger companies can benefit the most from this card because it offers simple credit card rewards with the potential for future growth through the acquisition of transferable miles.
Spend $4,500 on purchases during the first three months of opening your account, and you’ll receive 50,000 bonus miles.
Easy point accumulation and redemption are hallmarks of this business credit card. To begin, there is no limit on the number of miles you can earn with each dollar you spend with your Capital One Spark Miles credit card. In addition, every dollar spent on hotels or car rentals booked via Capital One Travel results in 5 miles being added to your account.
The fixed rate of 1 cent per mile allows you to use your miles for any travel-related expense whenever you like. There is the possibility of even greater value if the miles are transferred to one of Capital One’s 18 travel partners.
The Capital One Spark Miles card has a reasonable introductory bonus and a low required initial purchase amount. Superior to most of the similar business cards you’ll find on this list and especially attractive for a card with a waived annual fee in its first year, the 50,000-mile incentive may be utilized to “wipe” $500 of travel spending from your monthly statement. If you apply for Global Entry or TSA PreCheck, they’ll reimburse you $100.
To optimize the value of your miles, you can transfer them to an airline or hotel network. Still, the transfer partners Capital One currently offers aren’t quite as strong as other versatile points programs. Most are foreign carriers that necessitate expert-level familiarity with loyalty schemes to reap the most rewards.
American Express Business Gold
When using an American Express Business Gold Card, a company can choose to automatically receive extra points on the two categories in which they spend the most money each billing cycle.
This credit card is ideal for businesses whose spending patterns fluctuate throughout the year and whose primary concern is earning bonus miles or points toward travel expenses on their monthly bulk buys.
Spend $10,000 on your new credit card during the first three months, and you’ll get 70,000 bonus points.
Suppose your company’s monthly expenses fall into different categories month after month. In that case, the Amex Business Gold card is a clear winner.
From a choice of six options, you’ll receive four points for every dollar spent in the two categories that rank highest for your company during each billing cycle:
- Airline tickets bought through the carrier’s own website.
- U.S. purchases that will be shipped.
- Buying gas in the United States.
- Buying computer parts, software, and cloud services in the United States from a handpicked group of reputable vendors.
- Spending at American restaurants.
- Ad purchases in the United States in a few publications (online, T.V., radio).
The most admirable aspect of this strategy is that you don’t have to pick your top two categories in advance; American Express will do it automatically at the end of every billing cycle. This is fantastic in light of the present economic climate. It frees you from being restricted to just two bonus point categories for the whole year and allows them to adapt to your spending habits throughout the year.
The Amex Business Gold offers a generous welcome bonus of 70,000 extra points after spending just $10,000 on the card during the first three months of creating an account. That’s the best offer we’ve seen for this card in the open market.
The Amex Business Gold’s lack of travel perks is surprising, given the card’s high annual cost. Not even travel statement credits or other deluxe extras are included. You’ll need to ensure the earning rate is worthwhile for your total spending, as there are few options to offset the annual cost apart from the bonus credits in the first year.
Remember that the total amount you can spend in the six 4x bonus point categories in a calendar year is $150,000. In 2023, once you reach that spending limit, the card’s rewards rate drops to 1 point per dollar.
Delta SkyMiles Platinum Business American Express
Specific perks, such as free checked bags, priority boarding, and points or miles toward status, are only available with airline credit cards, such as the Delta SkyMiles Platinum Business American Express.
This card is ideal for companies planning business travel in 2023 because it offers Delta SkyMiles and perks unique to the airline.
Spend $3,000 on purchases within the first three months of card membership and get 60,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs).
There are a variety of airline credit cards available. Still, there are two main reasons why we chose the Delta Platinum Business Amex card.
To begin, the card’s Status Boost advantage makes it simpler to maintain or get Delta elite status even if you aren’t actively flying. Purchasing $25,000 on the Delta Platinum Business Amex in a calendar year will earn you 10,000 bonus MQMs toward Delta elite status, and spending $50,000 will earn you another 10,000 bonus MQMs.
Another reason we went with the Delta Platinum Business American Express is that after the second year (and every year after that), cardholders receive a companion certificate good for one domestic round-trip Delta travel in the Main Cabin for the price of taxes. With any luck, you’ll use this benefit frequently enough each year that it will more than cover the card’s annual fee.
In addition to earning miles, frequent Delta fliers can take advantage of the Delta Platinum Business American Express Card’s airline-specific perks, such as free checked bags for themselves and up to eight companions flying on the same booking, Main Cabin 1 priority boarding, and a 20% discount on in-flight food, beverages, and audio headsets.
Delta SkyMiles are less valuable than some of Delta’s competitors. Once earned, you’re limited to using them only on Delta flights or those of one of its partner airlines. This limits the usefulness of Delta Platinum Business Amex’s rewards compared to those earned through the Chase Ultimate Rewards or American Express Membership Rewards programs or through business credit cards that offer pure cash back.
Ink Business Unlimited
The Ink Business Unlimited Credit Card, which charges no annual fee yet offers 1.5% cash back on all purchases, is a good option for business owners who want to save time keeping track of their credit card rewards.
This credit card is ideal for companies that are okay with a flat rate of cash back rewards on all their everyday business expenses.
Spend $6,000 on expenditures in the first three months after opening your account, and you’ll get a $900 cash bonus.
Even when things are well, company leaders have much on their minds and may not want to devote much mental energy to things like credit card management. If this describes you in any way, the Ink Business Unlimited plan might be the right choice.
The Ink Business Unlimited is a great business credit card since it offers a flat 1.5% cash back on all business purchases without the hassle of trying to find bonus categories. The rebate can be cashed in at any time for a credit to your account or a direct deposit to any major US bank account.
This is the best moment to enroll for this card because you can get the biggest welcome bonus. After making $6,000 in purchases on your new Ink Business Unlimited card within the first three months of account setup, you’ll receive a $900 bonus.
You can convert your cash-back to travel points and use them for travel or transfer them to any of Chase’s 14 airline and hotel loyalty partners when you use the Ink Business Unlimited in conjunction with the premium Ink Business Preferred (or the private Chase Sapphire Preferred® Card or Chase Sapphire Reserve®).
It would be best if you didn’t use the Ink Business Unlimited abroad because the card charges a 3% foreign transaction fee that will cancel any rewards you could earn. In addition, this card does not provide travel protections aside from the principal car rental insurance for business trips.
The American Express Blue Business Cash Card offers 2% cash back on the first $50,000 spent annually (then 1% after that) and could be a better option for small businesses that spend less than $50,000 annually. However, the Ink Business Unlimited is still the superior option if you plan on using your rewards for more value trip redemptions in the future, as it can be paired with a luxury Chase Ultimate Rewards card at any time to unlock a plethora of travel possibilities.
Business Platinum from American Express
The Business Platinum Card from American Express is our most expensive option. Still, it’s also the most luxurious, with benefits like airport lounge access, elite status, and more.
The card’s premium benefits, transferable travel points, and comprehensive travel coverage make it ideal for business travelers.
Spend $15,000 on your new card during the first three months, and you’ll get a 120,000-point signup bonus.
Those who are constantly on the go and view travel privileges as necessary would benefit significantly from this card. One of the best perks of this card is access to more than 1,300 lounges worldwide, including Amex’s exclusive Centurion Lounges.
You can enjoy free room upgrades and breakfast at select hotels with your Amex Business Platinum card, and you’ll also have elite Gold membership in the Marriott and Hilton programs.
You can receive up to $400 in annual credits against eligible U.S. purchases made at Dell.com, $100 in a refund of a Global Entry or TSA PreCheck application cost, and more, all of which can be used to offset the card’s annual charge. These credits can be used for up to $700 in the first year.
The Amex Travel booking portal has one of the highest earning rates of any business credit card, allowing you to accumulate 5 points for every $1 spent on airfare.
Travel insurance benefits are also available on the Amex Business Platinum card, such as coverage for trip cancellation or interruption. If your flight is delayed or canceled for an eligible cause, up to $10,000 of your non-refundable charges will be reimbursed. (Pandemics are not, alas, a covered reason.) If your flight is postponed by more than six hours due to a covered reason, the card’s travel delay protection will refund you up to $500.
Although the Amex Business Platinum has a hefty annual cost, it does not provide any additional points for purchases other than those made by airlines and hotels. Instead, you should use an alternative card, like the American Express Blue Business Plus or Blue Business Cash, for everyday expenditures to get the most out of your rewards program.
Final words
Getting one is highly recommended if your line of work qualifies you for a business credit card. This is especially true if you want to separate your professional and personal spending. In addition, most business credit cards offer perks that are unavailable with a personal credit card because they are tailored to the requirements of corporations of all sizes.
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