Best Small Business Credit Cards in 2023: Find the Perfect Fit for Your Needs

Starting and running a small business can be a thrilling and challenging journey. One of the crucial aspects of managing your finances effectively is choosing the right credit card. Small business credit cards offer unique features and benefits that can help you streamline your operations, earn rewards, and manage cash flow.

In this comprehensive guide, we’ll delve into the best small business credit cards available in 2023, considering various factors such as rewards programs, bonus categories, annual fees, and perks. Whether you’re a seasoned entrepreneur or just starting out, finding the right credit card can empower you to take your business to new heights.

Key Factors to Consider When Choosing a Small Business Credit Card

• Rewards Program: What type of rewards are most valuable to your business? Cash back, travel points, or other perks?
• Bonus Categories: Look for cards that offer higher rewards on spending in categories relevant to your business, such as office supplies, travel, or advertising.
• Annual Fee: Compare the annual fees of different cards and weigh them against the potential rewards and benefits.
• Interest Rate: A lower interest rate can help you save on financing charges if you carry a balance.
• Credit Limit: Ensure the credit limit is sufficient to accommodate your business expenses.
• Perks and Benefits: Some cards offer additional perks, such as purchase protection, travel insurance, or business tools.
• Application Requirements: Be aware of the credit score and revenue requirements for each card.

Best Small Business Credit Cards for Rewards

1. Chase Ink Business Preferred Credit Card

• Rewards: Earn 3 points per $1 spent on travel, dining, and online advertising purchases, 1 point per $1 spent on all other purchases.
• Bonus Categories: Travel, dining, online advertising.
• Annual Fee: $95
• Sign-Up Bonus: Earn 80,000 bonus points after spending $5,000 in purchases within the first 3 months of account opening.
• Perks: Travel insurance, purchase protection, and access to the Chase Ultimate Rewards portal.

2. Capital One Spark Miles for Business

• Rewards: Earn 2 miles per $1 spent on all purchases.
• Bonus Categories: None.
• Annual Fee: $95
• Sign-Up Bonus: Earn 50,000 bonus miles after spending $4,500 in purchases within the first 3 months of account opening.
• Perks: Travel insurance, purchase protection, and no foreign transaction fees.

3. American Express Business Platinum Card

• Rewards: Earn 1 point per $1 spent on all purchases.
• Bonus Categories: None.
• Annual Fee: $595
• Sign-Up Bonus: Earn 75,000 bonus points after spending $5,000 in purchases within the first 3 months of account opening.
• Perks: Global Assist hotline, travel insurance, airport lounge access, and exclusive experiences.

Best Small Business Credit Cards for Cash Back

1. U.S. Bank Business Cash Rewards Mastercard

• Rewards: Earn 2% cash back on up to $50,000 in combined purchases each year, then 1% cash back on all other purchases.
• Bonus Categories: None.
• Annual Fee: $0
• Sign-Up Bonus: None.
• Perks: No foreign transaction fees.

2. Wells Fargo Business Rewards Card

• Rewards: Earn 3% cash back on the first $50,000 in combined purchases each year in categories you choose, 1% cash back on all other purchases.
• Bonus Categories: Customizable.
• Annual Fee: $0
• Sign-Up Bonus: None.
• Perks: No foreign transaction fees, purchase protection.

3. Bank of America Business Advantage Cash Rewards Mastercard

• Rewards: Earn 3% cash back on the first $2,500 spent on gas, office supplies, and dining each month, then 1% cash back on all other purchases.
• Bonus Categories: Gas, office supplies, dining.
• Annual Fee: $0
• Sign-Up Bonus: None.
• Perks: Purchase protection, no foreign transaction fees.

Best Small Business Credit Cards for Building Credit

1. The Blue Business Plus Credit Card from American Express

• Rewards: Earn 2 points per $1 spent on eligible purchases for the first $50,000 spent each calendar year, then 1 point per $1 spent on all other purchases.
• Bonus Categories: None.
• Annual Fee: $0
• Sign-Up Bonus: Earn 50,000 bonus points after spending $3,000 in purchases within the first 3 months of account opening.
• Perks: No foreign transaction fees, purchase protection, and access to the American Express network.

2. Chase Ink Business Cash Credit Card

• Rewards: Earn 1.5% cash back on all eligible purchases.
• Bonus Categories: None.
• Annual Fee: $0
• Sign-Up Bonus: Earn 50,000 bonus points after spending $3,000 in purchases within the first 3 months of account opening.
• Perks: Purchase protection, no foreign transaction fees.

3. Capital One Spark Cash for Business

• Rewards: Earn unlimited 2% cash back on all purchases.
• Bonus Categories: None.
• Annual Fee: $0
• Sign-Up Bonus: Earn 50,000 bonus miles after spending $4,500 in purchases within the first 3 months of account opening.
• Perks: No foreign transaction fees, purchase protection.

Choosing the Best Small Business Credit Card for You

The best small business credit card for you will depend on your specific needs and spending habits. Consider the following questions:

• What are your primary business expenses?
• Do you prefer rewards in the form of cash back, travel points, or other perks?
• What is your credit score and revenue?
• Are you willing to pay an annual fee?
• What are your preferred perks and benefits?

By carefully evaluating your options and considering these key factors, you can find the perfect small business credit card to support your growth and success.