Best Business Credit Cards for Rewards

of May 2024

Best Business Credit Cards for Rewards

In This Article

Business credit cards for rewards offer unique perks like cashback, travel points, or exclusive discounts tailored to your business expenses. One interesting thing is that they often provide higher credit limits, aiding in managing your operational costs. Rewards can be substantial, reducing overheads, and some cards offer lucrative sign-up bonuses. Moreover, the best business credit cards for rewards streamline your expense tracking with itemized statements and reporting tools, simplifying tax preparation. Additionally, they often include business-friendly features such as employee cards with spending controls. These business credit cards foster loyalty with partners and suppliers by offering rewards on business-related spending. Overall, they combine financial flexibility, rewards, and business-focused tools for your business’ benefits.

  1. Ink Business Cash® Credit Card
  2. World of Hyatt Business Credit Card
  3. Capital One Spark Cash Plus
  4. Wells Fargo Business Elite Signature Card
  5. U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

Overview of Best Business Credit Cards for Rewards

How to Choose Best Business Credit Cards for Rewards

Pros & Cons of Best Business Credit Cards for Rewards

What to Watch Out For

Pro Tips

Recap

1. Ink Business Cash® Credit Card

9.9/10

Ink Business Cash® Credit Card

The Ink Business Cash® credit card is a credit card that offers you cash back rewards on various business expenses, as well as some travel and purchase protection benefits. You earn 5% cash back on the first $25,000 you spend in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Plus, you can also earn 2% cash back on the first $25,000 expenses you make in combined purchases at gas stations and restaurants each account anniversary year.

Pros

  • Offers cashback rewards.
  • Charges no annual fee.
  • Features introductory 0% APR.
  • Requires employee cards at no extra cost.
  • Features business-friendly perks.

Cons

  • Projects limited redemption options.
  • Charges foreign transaction fees.
  • Requires good credit for approval.

The Ink Business Cash® credit card offers a $750 cash back bonus when you make $6,000 in purchases during the first 3 months of opening your account and it charges no annual fee. You can enjoy a 0% introductory APR for 12 months from account opening on purchases. Following that period, the variable APR then ranges from 18.49% to 24.49%, depending on your creditworthiness. You can get employee cards at no additional cost, which can help you earn rewards faster and set individual spending limits. Feel free to redeem your rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.

2. World of Hyatt Business Credit Card

9.8/10

World of Hyatt Business Credit Card

The World of Hyatt Business Credit Card offers many benefits that make it your best fit if you’re a small business owner who frequently stays at Hyatt hotels or spends money on common business expenses. You have the opportunity to accrue 60,000 bonus points when you make $5,000 worth of purchases within the first three months of opening your account. This equates to a dozen complimentary nights at Category 1 hotels. Additionally, when you stay at Hyatt properties or partake in Hyatt-related activities such as dining and spa visits, you can earn a maximum of 9 points for every $1 spent. This breaks down into 4 bonus points for each $1 charged to your card and an extra 5 base points for every $1 earned as a World of Hyatt member.

Pros

  • Offers bonus points in various spending categories.
  • Provides statement credits for Hyatt property stays.
  • Projects Automatic Discoverist status for you and employees.
  • Gives elite night credits for reaching spending milestones.
  • Features points rebate for high spending.
  • Offers discounts on Hyatt hotel stays through Hyatt Leverage.

Cons

  • Offers annual fee.
  • Is vastly limited if you don’t frequently stay at Hyatt properties.
  • Features benefits that may not justify the fee.
  • Requires spending thresholds to activate some perks.

You have the opportunity to earn 2 bonus points for every $1 spent in your top three eligible spending categories each quarter until December 31, 2023. After that date, you start earning 2 bonus points for your top two categories each quarter. These eligible categories include dining, direct airline ticket purchases, car rentals, local transit and commuting, gas stations, internet, cable, phone services, social media, search engine advertising, and shipping. Additionally, you can earn 2 bonus points per $1 spent on fitness club and gym memberships to promote a healthy lifestyle.

Furthermore, when you spend $50 or more at any Hyatt property, you can receive up to $100 in Hyatt statement credits, which you can enjoy twice each anniversary year. This also grants you automatic World of Hyatt Discoverist status for yourself and up to five employees, along with extra cards at no cost. This status comes with advantages like a 10% bonus on eligible spending, late check-out, preferred room upgrades, and more. You can also earn 5 annual qualifying night credits for every $10,000 spent in a calendar year, helping you reach top-tier elite status and unlock Milestone Rewards faster. These rewards are additional benefits you can access upon reaching specific qualifying night or base point milestones within a calendar year.

If you spend $50,000 in a calendar year, you receive a 10% points rebate on the redeemed points for the remainder of that year, up to a maximum of 200,000 points you redeem.

Furthermore, you can enjoy average annual savings of over $350 with discounted rates on standard rooms at all participating Hyatt hotels through the Hyatt Leverage program, which provides exclusive rates and perks you enjoy if you run a small to mid-sized business.

3. Capital One Spark Cash Plus

9.6/10

Capital One Spark Cash Plus

The Capital One Spark Cash Plus is a business card that offers you some special features and benefits. It is a pay-in-full charge card, which means that you have to pay off your balance in full every month. Thanks to Capital One Spark Cash Plus, you earn unlimited 2% cash back on every purchase, everywhere, with no limits or category restrictions—plus an extra 5% cash back rental cars and hotels you book through Capital One Travel.

Pros

  • Offers high cash back rewards.
  • Charges no annual fee.
  • Gives generous sign-up bonus.
  • Projects employee cards at no extra cost.
  • Gives fraud coverage and security features.

Cons

  • Requires excellent credit.
  • Offers limited redemption options.
  • Entails no 0% APR introductory period.
  • Attracts no foreign transaction fees.
  • Supports cash advance fees.

Capital One Spark Cash Plus boasts a flexible spending limit that adjusts to your business needs based on your spending habits, payment history, and credit profile. Additionally, you can earn a generous one-time cash bonus of $1,200 when you spend $30,000 within the first 3 months of opening your account. Moreover, by spending at least $150,000 annually on the card, you receive an annual fee refund of $150, effectively making the card cost-free if you meet this spending threshold.

Furthermore, this card provides complimentary employee cards that also earn a steady 2% cash back on all purchases. You also have the option to designate an account manager to manage purchases, payments, transaction reviews, and issue resolutions.

Additionally, it’s worth noting that this card doesn’t impose foreign transaction fees, allowing you to use it abroad without incurring additional charges for currency conversion. Lastly, it offers you a range of business-grade features, including automatic payments, $0 fraud liability, year-end summaries, purchase records, and virtual card numbers.

4. Wells Fargo Business Elite Signature Card

9.2/10

Wells Fargo Business Elite Signature Card

The Wells Fargo Business Elite Signature Card is a credit card that offers you some special features for if your business attracts over $1 million in annual sales. It offers a competitive rewards program, allowing you to earn points on purchases. Additionally, it offers expense management tools, making it easier to track and control your venture’s spending. With no foreign transaction fees and access to airport lounges, this card is specially for your business if it’s seeking luxury and convenience in its financial tools.

Pros

  • Projects competitive rewards program.
  • Offers travel and purchase protections.
  • Supports expense management tools.
  • Charges no foreign transaction fees.
  • Provides airport lounge access.

Cons

  • Requires good to excellent credit
  • Charges higher APR for balances
  • Features rewards that may not suit all your business’s needs.
  • Charges a higher annual fee.

Receive either a one-time $1,000 cash back bonus or 100,000 bonus points upon spending $25,000 within the initial three months of account activation. Choose between earning 1.5% cash back or 1 point for each dollar spent on all purchases, with the potential to acquire 5,000 bonus points when your company’s monthly expenditure surpasses $10,000. Enjoy a yearly travel incidental fee reimbursement of up to $100 per company. Access travel and emergency assistance services, including medical and legal referrals, emergency message services, and lost luggage reimbursement. There are no foreign transaction fees, and you can obtain up to 200 complimentary employee cards. The card comes with an annual fee of $125, which you can waive for the first year, and a variable APR of 11.99% for purchases.

5. U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

9/10

U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® offers cash back rewards on various business-related categories, as well as some other benefits. Earn unlimited cash back rewards up to 5% on all eligible business purchases.

Pros

  • Requires no annual fee.
  • Gives 3% cash back on eligible purchases in the 4 bonus categories.
  • Provides 0% intro APR on purchases and balance transfers for 12 months (then 19.24 %-28.24% variable APR).
  • Offers $100 statement credit for up to 6 months of software subscriptions.
  • Charges no foreign transaction fees

Cons

  • Projects not as many travel benefits as some other business credit cards.
  • Requires a minimum credit score requirement of 720.

With the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® you earn unlimited cash back on all eligible business purchases with varying rates. You receive 5% cash back on prepaid hotel and car rentals booked directly in the Rewards Center, 3% cash back on gas, electric vehicle charging stations, office supply store, mobile service provider, and restaurant purchases, and 1% cash back on all other eligible purchases. Additionally, you can receive a $100 annual credit for recurring software subscription expenses, like QuickBooks, Xero, or FreshBooks, after making 11 consecutive monthly payments with your business credit card. Plus, enjoy a 0% introductory APR on purchases and balance transfers for 15 billing cycles, followed by a regular variable APR ranging from 19.24% to 28.24%. A balance transfer fee of 3% with a $5 minimum applies. Access a range of benefits from Visa, including Auto Rental Collision Damage Waiver, Zero Liability Protection, Travel and Emergency Assistance Services, and more.

Overview of Best Business Credit Cards for Rewards

One cool thing with business credit cards with rewards is that they offer a range of benefits to cater for your venture’s needs. The Ink Business Cash® Credit Card provides cashback rewards, while the World of Hyatt Business Credit Card offers hotel-related perks. The Capital One Spark Cash Plus is popular for its cashback and generous welcome offer, while the Wells Fargo Business Elite Signature Card provides travel and cash redemption options. Lastly, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® offers versatile cashback rewards. Each of these cards targets specific spending preferences, making them valuable tools for you if you’re looking to maximize your rewards and benefits.

How to Choose Best Business Credit Card for Rewards

To choose the best business credit card for rewards involves careful consideration. Consider taking the following steps:

  1. Assess your business needs: Understand your company’s spending habits and financial goals. Are you looking for cash back, travel rewards, or specific benefits like 0% APR? Knowing your needs guide your selection.
  2. Check credit score: Ensure your credit score meets the card’s requirements. Most premium rewards cards require good to excellent credit. Review your credit report and score before applying.
  3. Compare rewards programs: Research different rewards programs. Some offer cash back, others provide travel points, and some have specialized benefits. Choose one aligned with your business spending patterns.
  4. Evaluate bonus offers: Many cards offer sign-up bonuses. Compare these bonuses to see which aligns with your spending. Consider the spending requirements to earn the bonus.
  5. Review fees and terms: Understand the card’s annual fee, interest rates, and other fees. Compare these costs to the potential rewards. Look for cards with no foreign transaction fees if you travel internationally.
  6. Consider additional benefits: Beyond rewards, some cards offer perks like travel insurance, purchase protection, or access to airport lounges. Assess these additional benefits and their value to your business.

Pros & Cons of Best Business Credit Cards for Rewards

  • Offer earning potential: Business credit cards often offer substantial rewards, such as cash back, points, or miles, which can significantly benefit your company’s finances.
  • Give introductory bonuses: These business credit cards provide lucrative sign-up bonuses, which can provide a substantial boost to your rewards right from the start.
  • Provide expense management: Track and categorize expenses so as to manage your finances and prepare for tax season without hassles.
  • Support employee cards: Issue employee cards with customizable spending limits—this is important when it comes to easier expense tracking for your team.
  • Aid building business credit: Responsible use of a business credit card can help build your company’s credit profile, potentially leading to better financing options in the future.
  • Charge higher interest rates: Business credit cards have higher interest rates than personal cards, so carrying a balance can lead to substantial interest charges.
  • Are potential for wrecking credit score: If your business struggles to make payments, it can damage your business credit score and potentially impact your personal credit as well.
  • Feature temptation to overspend: Access to credit can lead to overspending if you fail to manage your spending habit carefully.
  • Require strict qualification criteria: To access the best rewards cards, you often need a good to excellent personal and business credit history, which may not be accessible especially if you’re just starting a new venture with no credit history.

What to Watch Out for

When considering business credit cards for rewards, it’s essential to be vigilant and watch out for numerous factors to ensure you make a wise choice. Here are some a few factors to consider: 

  • Annual fees: Understand the annual fee associated with the card. Ensure that the rewards and benefits you receive outweigh this cost.
  • Interest rates: Be aware of the card’s APR (Annual Percentage Rate). High interest rates can negate the value of rewards if you carry a balance.
  • Reward redemption restrictions: Check for limitations on how you can redeem rewards. Some cards may restrict redemption options or impose blackout dates for travel rewards.
  • Purchases requirements: Pay attention to the spending requirements for sign-up bonuses. Ensure your business can meet these requirements without overspending.
  • Category restrictions: Some cards offer bonus rewards in specific spending categories. Make sure these categories align with your business expenses to maximize rewards.
  • Expiration of rewards: Understand if rewards have an expiration date. You don’t want to lose earned rewards because they expire before you can use them.

Pro Tips

  • Set a clear spending strategy: Plan how you want to use your business card to maximize rewards. Concentrate spending on categories that earn the most rewards, such as travel, office supplies, or dining.
  • Leverage sign-up bonuses: Capitalize on sign-up bonuses by meeting the required spending thresholds within the specified time. This can provide a significant initial boost to your rewards.
  • Monitor expenses closely: Regularly review your business expenses to ensure they align with your rewards strategy. Use expense tracking tools or apps to simplify this process.
  • Pay the balance in full: Avoid carrying a balance to prevent high-interest charges. Paying the balance in full each month ensures you truly benefit from rewards, as interest payments can negate gains.
  • Consider employee cards: If you have employees, issue additional cards with set spending limits. This allows you to earn rewards on their expenses while maintaining control over budgets.
  • Review and redeem rewards: Regularly check your rewards balance and consider how to best redeem them. Whether it’s for cash back, travel, or other perks, make sure you use your rewards to their full potential.

Recap

Business credit cards for rewards offer numerous advantages. They provide opportunities for substantial cash back, points, or miles. Sign-up bonuses can provide an initial boost for your enterprise. These cards simplify expense tracking and often offer perks like travel insurance. Employee cards with spending limits are a plus. They can help build your business credit and improve financing prospects. However, annual fees, high-interest rates, and the risk of overspending are drawbacks. Qualification often demands that you have a good credit history. Consider these factors to choose a card that aligns with your business needs and financial situation.

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