Best Business Credit Cards for a Small Business (2024)

A business credit card is a credit line that helps companies cover short-term financial expenses and provides quick access to funds in case of emergencies. Additionally, this card type offers its owner bonus cash back, rewards for purchases in specific categories, and many other privileges.

For small enterprises and startups, it’s an excellent option to maintain a stable financial position and even reinvest through the accumulation of purchase interest. According to a Forbes Advisor survey, after starting a business, 69.3% of entrepreneurs applied for a credit card, and 31.1% of them were approved.

The approval rate is crucial when choosing a credit card provider. However, there are other criteria to consider when seeking a business credit card:

• The bank's rating and reputation.
• The terms set by the financial institution.
• The presence of a zero-interest rate or the amount of interest accrued for credit.
• Bonus programs, loyalty programs, and more.

Next, let’s look at the best business credit cards for small businesses, their terms, application procedures, and the promotional offers available to new customers.

Hilton Honors Business Card — The Best Solution for Business Trips

Using the Hilton Honors Business Card, you receive a lucrative welcome offer. If you spend $3,000 on purchases within 3 months, you'll have access to 130,000 bonus points, which you can use for free stays at Hilton hotels. Therefore, this card is considered the best small business credit card for entrepreneurs who need to travel frequently for work or send their employees on business trips.

Let's explore the advantages of the Hilton Honors Business Card:

• 6 bonus points for every dollar spent on purchases in categories such as hotels, gas stations, wireless services, flights booked through Amex Travel or airlines, car rentals, and some U.S. restaurants.
• 3 points for every dollar spent on purchases in any other categories.
• 12 points for every dollar spent on purchases within the Hilton hotel network.
• Entitlement to 10 free visits to Priority Pass lounges each year for cardholders.
• Free issuance of credit cards for your employees.
• No international transaction fees.

It's important to note some disadvantages of the credit card:

• An annual card maintenance fee of $95.
• On average, Hilton Honors points are worth less than those of competing banks.
• To enjoy some privileges, you need to spend a significant amount of money within a year, which may be challenging for a small company.

Among the top business cards for small businesses, Hilton Honors offers a relatively easy way to earn points and get a free night in a prestigious hotel. After all, bonuses are awarded regardless of what you or your employees use the credit card for.

How to Apply for Hilton Honors Business Card?

To get the card, you need to collect and provide the following documents to the bank representative:

• Application for a credit card.
• Identification of the business owner.
• Federal Tax Identification Number (EIN).
• Founding documents of your company.
• Income statement of the business.
• The company contact information and your personal details.

You can apply online by visiting the official American Express website and filling out a special form.

Blue Business® Plus Credit Card from American Express

When applying for the Blue Business Plus credit card from the American bank, the business owner receives a welcome bonus of 15,000 Membership Rewards points. This is given to those who spend $3,000 on purchases that meet the bank's criteria within the first three months of membership. Among the best small business credit cards, the American Express offer stands out by not charging an annual fee for card usage.

In addition, there are other advantages to Blue Business:

• No balance transfer fees.
• Double points for everyday corporate purchases up to $50,000 per year.
• Free issuance of credit cards with customizable spending limits for employees.
• Advanced customer services to assist with financial control issues.
• A high credit limit for cardholders demonstrating an extended purchasing ability.

However, this credit card is not without its drawbacks:

• A 2.7% commission for international transactions.
• The 2X bonus on various purchases is limited to only $50,000 per year, which may not be very convenient for rapidly growing companies.

How to Apply for Blue Business Plus American Express?

As a small business owner, you can apply online on the American Express website to get the best credit card for small businesses and expand your enterprise's purchasing power. To do this, you need to provide:

• Information about your company.
• Type and structure of the business.
• Company contact information.
• Federal Tax Identification Number (EIN).
• Estimated monthly expenses.
• Personal details (name, address, mobile or home phone, SSN, date of birth, etc.).

Final Thought

Regardless of the chosen business direction, any startup faces corporate expenses or the need to open a bank account. To address these issues, banks issue special credit cards that help small companies obtain manageable loans for development and stable operations.

The list of top business credit cards for small businesses can be quite extensive, but in this article, we highlighted two promising options:

• Blue Business® Plus from American Express for any corporate purchases.
• Hilton Honors Business Card for business trips.

As you can see, each of them is designed for different purposes, so when choosing a credit card, consider your goals, needs, and the financial position of the company.

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