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By Jason Steele
October 7, 2020
Money; Getty Images

A small business credit card can be an incredibly valuable tool for your company. The right card can not only provide a secure and convenient method of payment for your business, but it can also offer extremely valuable rewards.

On top of that, you can enjoy useful reporting tools and of course, short-term financing of your business purchases. Many cards created for small businesses also have great welcome bonuses — with rewards possibly worth over $1,000 to new cardholders.

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Small Business Credit Cards: Who Qualifies?

Many people know that small business credit cards are designed for people who own businesses like shops, restaurants and law firms. However, they’re actually suitable for nearly any type of business, no matter how small. This can include anything from selling things online, being a driver for a rideshare or food delivery company, or even just doing odd jobs in your spare time. If you earn money and have expenses, you should be able to qualify for a small business credit card.

Another misconception is that you need to be incorporated to apply for a small business credit card. In fact, these cards are available to those who have nearly any type of business, including partnerships, LLCs and even those who are not incorporated. Unincorporated businesses are often referred to as “Doing Business As” and often require no paperwork or registration at all. When you apply for a credit card as an unincorporated small business, you can simply use your Social Security Number(SSN) instead of an Employer Identification Number (EIN).

How to Find the Best Small Business Credit Card

A valuable welcome bonus will certainly attract your attention, but it’s not the only thing that you need to consider when looking for a new credit card. The best small business credit cards offer valuable rewards for spending, especially for the kinds of purchases your company makes the most. Popular bonus rewards categories for small business cards can include office supplies, online advertising, shipping and travel. You should also look at purchase protection and travel insurance benefits, as well as the card’s annual fee and other costs.

Here are some of the best small business credit cards to consider:

Chase Ink Business Preferred. This premium small business card offers new accounts 100,000 bonus points after spending $15,000 in purchases within three months of account opening. That’s enough to redeem for $1,250 in travel rewards booked through Chase. Or, your rewards can be transferred to airline miles or hotel points. The Chase Ink Business Preferred card also offers you 3x points on up to $150,000 spent each year in combined purchases on travel, shipping, internet, cable and phone services and advertising purchases made with social media sites and search engines. There’s a $95 annual fee for this card.

  • Welcome bonus: Earn 100,000 Ultimate Rewards points, worth $1,250 in travel booked through Chase, after spending $15,000 within three months of account opening.
  • Rewards for spending: Earn 3x points per dollar spent on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year. Earn 1x elsewhere.
  • Annual fee: $95.

American Express Business Platinum. This premium rewards card is offer new applicants 75,000 bonus Membership Rewards points after spending $15,000 within three months of account opening. It features 5x points on flights and prepaid hotels booked through amextravel.com, and 1.5x points on eligible purchases of $5,000 or more (on up to 1 million additional points per calendar year). You earn one point per dollar spent elsewhere. Benefits include $200 in annual credits towards Dell purchases and a $200 annual airline fee credit. You’ll also receive up to $100 in additional statements credits for purchases made before the end of 2020 for U.S. purchases with Dell Technologies. Until the end of 2020 Amex is offering up to $20 in statement credits per month on U.S. purchases for shipping, plus another $20 in statement credits per month on wireless telephone services purchased directly from U.S. service providers. There’s a $595 annual fee for this card.

  • Welcome bonus: 75,000 bonus Membership Rewards points after spending $15,000 within three months of account opening.
  • Rewards for spending: Earn 5x points on flights and prepaid hotels booked through amextravel.com, and 1.5x points on eligible purchases of $5,000 or more (on up to 1 million additional points per calendar year.) One point per dollar spent elsewhere.
  • Annual fee: $595

Chase Ink Business Cash. Here’s a credit card with no annual fee that offers an impressive welcome bonus along with strong rewards in bonus categories. You earn 50,000 Ultimate Rewards points, worth $500 in cash back, after spending $3,000 within three months of account opening with the Ink Business Cash card. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. You also receive 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases, with no limits. There’s no annual fee for this card.

  • Welcome bonus: $500 in cash back, after spending $3,000 within three months of account opening.
  • Rewards for spending: 5% cash back at office supply stores and on internet, cable and phone services (on the first $25,000 spent in combined purchases each account anniversary year). 2% cash back in combined purchases at gas stations and restaurants (on the first $25,000 spent each account anniversary year). 1% cash back on all other purchases.
  • Annual fee: $0

Chase Ink Business Unlimited. This no-fee card also offers new accounts 50,000 Ultimate Rewards points, worth $500 in cash back, after spending $3,000 within three months of account opening. But instead of bonus categories, you simply earn 1.5% cash back on all purchases with no limits. There’s no annual fee for the Chase Ink Business Unlimited card.

  • Welcome bonus: $500 in cash back, after spending $3,000 within three months of account opening.
  • Rewards for spending: 1.5% cash back on all purchases with no limits.
  • Annual fee: $0

Southwest Rapid Rewards® Performance Business Credit Card. Some businesses require travel, even in today’s environment, while others business people are simply looking forward to returning to the road as soon as it’s safe. This premium rewards card will offer you amazing amounts of free travel from its welcome bonus and its rewards for spending.

First, the welcome bonus offers new accounts up to 100,000 points. You earn 70,000 points after you spend $5,000 on purchases within three months of account opening, plus an additional 30,000 points after you spend $25,000 total on purchases within the first six months of account opening. So by spending $25,000 within six months, you will have earned at least 125,000 points, which will qualify you to receive the Companion Pass (available so long as you earn 125,000 points in a calendar year). The Companion Pass offer you unlimited companion airfare (plus taxes) for all of your tickets on Southwest Airlines, both paid and award seats, until the end of the following calendar year.

You also receive 3x points on Southwest purchases, 2x points for every dollar spent on social media and search engine advertising, internet, cable, and phone services, and one point per dollar spent on all other purchases. Benefits include four upgraded boardings on Southwest per year and up to 365 inflight wi-fi credits per year. There’s a $199 annual fee for this card.

  • Welcome bonus: 70,000 points after you spend $5,000 on purchases within three months of account opening, plus an additional 30,000 points after you spend $25,000 total on purchases within the first six months of account opening.
  • Rewards for spending: 3x points on Southwest purchases, 2x points for every dollar spent on social media and search engine advertising; internet, cable, and phone services and one point per dollar spent on all other purchases.
  • Annual fee: $199.
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Advertiser Disclosure

Money has partnered with CardRatings.com and ConsumersAdvocate.org, among other companies, for our coverage of credit card products. Money, CardRatings.com, and ConsumersAdvocate.org may receive a commission from card issuers. For example, Money receives a commission from Citi when you apply and are approved for a Citi product through the links on this site.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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