Top 5 Small Business Credit Cards of 2017

Since starting my small business in 2007, I’ve used a business card for several reasons. My business credit card easily separates personal expenses and business expenses. I use GoDaddy’s online bookkeeping tool. It automatically imports all the charges from my business credit card, so these expenses are exceptionally easy to track. This makes preparing annual tax returns much easier.

Using a business credit card also helps my business build credit in case I should ever need to apply for a loan. If there’s a chance you’ll ever need a small business loan, this is definitely a point to consider.

With that said, some entrepreneurs don’t like business credit cards. Clark Howard, for instance, doesn’t like them because they don’t offer the same protections as personal credit cards. This is partially true. Business cards are generally exempt from the Credit Card Act of 2009. However, most major credit card issuers offer protections to business credit cards as well as personal cards. Just check the terms and conditions to find out.

Choosing a Card

Choosing a business credit card can be even more challenging than choosing a card for personal use. There are plenty of options out there, all with their own benefits, rewards, and fees.

Before you choose a card, you’ll want to understand how you’ll be most likely to use it. Look at your past year’s expenses, or if you’re just starting your business, look at projected expenses. Will you spend the most on office supplies? Travel? Gas?

Knowing your business’s most common types of expenses will make the card-choosing process much easier. Once you have an idea of how you’ll use the card, check out these great credit card options from major issuers:

1. Capital One Spark^® Cash for Business

If you want low fees and excellent rewards, this card is a top choice. The Capital One Spark® Cash awards a flat 2% cash back across categories, so it’s great if you’re never sure from year to year which category you’ll use the most. Plus, you won’t have to track rotating categories of cards.

Learn how to apply here.

• Signup Bonus: When you spend $4,500 on purchases within the first three months of card usage, you’ll get a $500 cash-back bonus.
• Everyday Rewards: Unlimited 2% cash back on purchases.
• Fees: The card has an annual fee of $59, which is waived in the first year. It doesn’t have foreign transaction fees.
• Added Business Services: This card offers fraud alerts, purchase records that can be downloaded to Quicken, Quickbooks, or Excel, and convenient year-end summaries.

Bottom Line: This is an excellent cash-back option for business owners who just want to carry one card. With 2% cash back with no rotating categories, you don’t have to worry about which expenses to put on this card. Use it for everything, and reap rewards year-round. This is one of the few cards on our list with no foreign transaction fee, as well. So if your business sends you or your employees overseas, it’s a good card to check out.

2. Capital One Spark^® Miles for Business

This is the business credit card I carry and is basically a miles-based version of the above card. Like the Spark^® Cash, it offers set rewards across all spending categories. You’ll earn 2 miles for every $1 spent on business purchases, and you can use the miles with no minimum for redemption, no blackouts, and no seat restrictions.

Learn how to apply here.

• Signup Bonus: Spend $5,000 in the first three months of use, and you’ll earn 50,000 bonus miles.
• Everyday Rewards: Earn 2 miles for every $1 spent on purchases.
• Annual Fee: This card comes with a $59 annual fee, which is waived the first year.
• Added Business Services: This card offers the same business services as the Spark® Cash, including fraud alerts and a specialized service department for business owners. It also offers $0 fraud liability if your card is lost or stolen.

Bottom Line: For business owners with excellent credit, this card is a good option if you want to earn miles rather than cash back, but don’t want to fuss with weighted or rotating categories.

3. The Business Platinum® Card from American Express OPEN

American Express has upped the ante with its Business Platinum® Card from American Express OPEN. Simply put, it offers incredible rewards, including a signup bonus and ongoing rewards. You pay a hefty fee for this card, but if your business spending enables you to maximize the rewards, the card is well worth the price.

Learn how to apply here.

• Signup Bonus: LIMITED TIME OFFER: Earn up to 75,000 Membership Rewards® points. Earn 50,000 Membership Rewards points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.
• Everyday Rewards:

1. NEW: Get 50% more Membership Rewards® points. That’s 1.5 points per dollar, on each qualifying purchase of $5,000 or more. You can get up to 1 million additional points per year.
2. Plus, continue to get one point per dollar for qualifying purchases under $5,000.
3. NEW 50% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 50% of the points back.
4. NEW: You can also receive 50% points back on all First and Business class flights, with all airlines available through American Express Travel.

• Annual Fee: $450
• Added Business Services: The benefits are numerous, including no foreign transaction fees, airport lounge access, $200 airlines fee credit, purchase protection, and many others.

Bottom Line: For those businesses that charge a lot of expenses, the Business Platinum® Card from America Express OPEN is an excellent choice.

4. Starwood Preferred Guest® Business Credit Card from American Express

This is another easy-to-use business card, especially for frequent travelers. The Starwood Preferred Guest® Business Credit Card from American Express offers 2 points per $1 spent on Starwood hotel stays and 1 point per $1 spent elsewhere. You’ll also get free Wi-Fi access at any Boingo hotspot and can avoid being charged for foreign transaction fees.

Learn how to apply here.

• Signup Bonus: Earn 25,000 bonus Starpoints® after you use your new Card to make $5,000 in purchases within the first 3 months
• Everyday Rewards: Earn 2 Starpoints for every dollar spent at SPG Marriott Rewards hotels.  Earn 1 Starpoint for every dollar spent on every other transaction.
• Fees: $0 for the first year, then $95 after that.
• Added Benefits: With this card, you can transfer your rewards points to other airline and hotel programs, including Hilton HHonors™, JetBlue, and the Starwood Preferred^® Guest program. You can enjoy special savings through the OPEN Savings Program from companies like FedEx, Office Max, Hertz, Hyatt, and more.

Bottom Line: This is an easy-to-use card that’s especially great if your goal is to earn more points from spending a lot of time at SPG Marriott hotels.  The up front bonus is solid, and the Starwood rewards program is one of the best around.  The annual fee is an obstacle, but if your business is in need of frequent hotel stays, then the rewards earned will outweigh the fee in a big way.

5. SimplyCash^® Plus Business Card from American Express

If you’re looking for straight-up cash back with no rotating categories, this is a card to consider. The SimplyCash^® Plus Business Card from American Express offers 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers; 3% cash back on the category of your choice from a list of select categories and 1% cash back on other purchases; 5% and 3% apply to purchases up to $50,000 per rebate year then 1% thereafter. Cash back earned is automatically credited to your statement

Learn how to apply here.

• Signup Bonus: You get a $200 statement credit by spending $5,000 or more within six months of owning this card. Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.

Everyday Rewards:

1. 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
2. 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
3. 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% thereafter. Cash back received is automatically credited to your statement.

• Fees: This card has no annual fee.
• Added Benefits: You’ll get access to the OPEN Savings network, which lets you get discounts with a variety of business retailers – FedEx, AirTran, Marriot, and more. You can redeem your earned cash back points for merchandise, dining, travel, gift cards or statement credit.

Bottom Line: This is another good card to use if you’re planning a big up-front purchase. You can take advantage of the $250 statement credit bonus.

Listen to the podcast on how to choose the best small business credit card: