Best Business Credit Cards for Startups and New Businesses

Other highlights of this card include its 3% cash back on select business purchase categories, a welcome bonus, and its lack of an annual fee. Bank Triple Cash Rewards Visa Business on the map as a great card if you need to make a large purchase or want to consolidate debt with a balance transfer. It’s not uncommon to see a 0% intro APR card have much higher APR rates when that window is over.

Approval odds for those with no credit history

The Capital Spark Cash Plus is a great cash back card for larger businesses with high spending. It allows business owners to earn unlimited 2% cash back on every purchase, and Capital One will refund the card’s annual fee if the business meets a minimum spend of $150,000 annually. Read our full review of the Capital One Spark Cash Plus credit card.

What credit score is needed to apply for a business credit card?

Businesses must make full payments by the due date every billing cycle. However, many corporate charge cards don’t require a credit check or existing credit history. Instead, they often look at your business’s cash flow, making them a solid choice for startups that want flexible spending without worrying about a lack of credit history. Brex provides small business credit card, expense management, travel, and bill pay software solutions. The platform offers real-time expense tracking and variance reporting. Both cards have low costs and offer cashback.Ramp does not offer an integrated financial solution with banking and treasury capabilities.

Capital One Spark 1% Classic Rewards

See how the top 7 no annual fee business credit cards compare on rewards, benefits, and drawbacks. Depending on the card and the multipliers, these rewards can be valuable for companies when redeemed for travel, statement credits, or other benefits. Additionally, many business charge cards offer other perks and partner benefits that can be worth hundreds or even thousands of dollars when certain spending thresholds are met within the first few months. Discover the differences between corporate credit cards and business credit cards.

• You apply online via Zeller’s website, providing your ABN, financials, and director IDs.
• Not all business credit cards report to these bureaus, so check before applying.
• The process is quick, with approval typically within days, ensuring fast card access.
• The card is ideal for startups who also have annual spending for software and hardware, as the statement credits will offset those costs.
• So getting 2% of your total margin back is really, really valuable.

Rewards programs are a standout feature of many business credit cards. They offer cashback, travel points, or other perks based on your spending. He has a proven track record of launching new products and services, forging strategic partnerships, and leading cross-functional teams. Business credit cards let you carry a balance and incur interest if you don’t pay in full each month. They’re a good option for small business owners looking to separate business and personal expenses, but accounting for startups a credit check is usually required. When you launch a new business, you’ll soon discover the frustrations of managing unpredictable cash flow.

Some providers charge an annual or monthly fee – and if you have more than one, this can apply to each cardholder. Often an annual fee gives you access to extra perks, but this is only worthwhile if you’re confident you will take advantage of these extras. Before you apply for a business credit card for your startup or new business, there are a few key details to consider to help you find the card that’s right for you.

• Some founders use personal cards initially and transition to business cards after launch.
• Customers can also use the financial software solutions on the Rho platform.
• Each card offers a unique set of rewards, perks, and features to help your business succeed.
• For rates and fees of The Business Platinum® Card from American Express, click here.
• This means that your personal credit could play a role in whether you’re approved for the business card — and it could also be affected by your use of the card.
• With its flexible rewards, businesses can also redeem them in many ways, including cash back, travel or covering previous travel purchases.
• The Business Altitude card is a good choice for startups with a good to excellent credit score, and firms with large travel budgets.

U.S. Bank Business Altitude Connect World Elite Mastercard

The card comes with a low $95 annual fee and earns Chase Ultimate Rewards which can be used to book travel or transfer points to one of Chase’s 14 airline and hotel partners. https://ecommercefastlane.com/accounting-services-for-startups/ You can earn unlimited cash back on business expenses, which means you’ll never have to worry about juggling different bonus categories to maximize its value. The Ink Business Unlimited® Credit Card offers 1.5% cash back on everyday, non-bonus business expenses. To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards. Small businesses who spend heavily at office supply stores and on internet, cable and phone services will find the Ink Business Cash to be a perfect fit.

Additional Rates and Fees

• The card also offers an introductory APR on new purchases, which can be helpful for startups that are tight on cash flow.
• Understanding these factors allows you to select a business credit card that aligns with your financial goals and aids in managing your company’s business finances more effectively.
• For all of these cards, though, your spending limit is a company total and you can set your own budget for each team member’s card to allocate employee spending limits.
• Rho has been a great banking solution for our fast-growing venture-backed startup.
• I have Dr. degree in the medical field, so business and finance acumen is still all very new and I’m not as certain what would provide me with the greatest benefit at this time.
• Startups can build business credit by using a business card that reports payments to the major credit bureaus.

Dive into our curated list to find the perfect fit for your business. However, the card comes with an annual fee after the first year, and its rewards structure might be complex for some users. Despite these drawbacks, the travel and emergency assistance services, along with detailed expense management tools, make it a valuable asset for businesses. After the first year, the cash back rate drops to a respectable 1.5% on all purchases. While the lack of virtual card support might limit some businesses, the travel and purchase protection benefits, coupled with robust online account management tools, make it a solid choice overall. LLCs that favor travel rewards should strongly consider The Blue Business® Plus Credit Card from American Express (Terms apply, see rates & fees).