Published By Janet Gershen-Siegel at December 8th, 2021
Are you looking for business credit card rewards? Did you know there are a ton of different kinds? Get points, travel rewards, a low APR, and more! The best business rewards credit card for you is out there.
Business credit cards may offer rewards in the form of rebates or statement credits or other perks. Some perks may include waiving a first late payment fee or a free cell phone protection plan. You may also get bonus points by spending a certain amount within an amount of time. This period tends to be right after you first get such a credit card.
Travel rewards are usually calculated in miles rather than points for this type of rewards credit card. Rewards may tie to a particular airline or hotel chain. Travel rewards may also come in the form of discounts on car rentals or hotel stays. They can even come in the form of added miles for filling up using certain gasoline brands. Some cards offer a reward in the form of free TSA PreCheck®, which currently costs $85.
Rewards can seem tempting and easy to get. But always look at annual fees (if any) and APR. Also, make sure you know exactly what you can redeem for points or miles. Learn how many points or miles you need, and how much you have to spend to get them. And read the fine print to find out if your rewards ever expire. A generous program with points that expire fast that you can only trade in for stuff you don’t want or need is no bargain.
Can you get business credit card rewards and still enjoy a low annual percentage rate? Sure you can.
Check out the Alpine Bank Visa Platinum Rewards card. This is one of the better no annual fee credit cards with rewards. Get one point per dollar spent. Bonus points: 5,000 for first $3,000 spent in first four billing cycles. The APR for purchases is Prime + 8.74—14.74%. This is a good card for APR, and the amount you need to spend for a bonus is somewhat low.
Take a look at the Frost Bank Business Rewards Credit Card. Pay no annual fee. Get a revolving balance option for credit lines of $50,000 and under. Pay an APR of 9.9% + prime. The monthly credit limit cap is $25,000 if you apply online, for current Frost customers only. But it’s $100,000 if you apply by mail.
The revolving balance option is attractive, and the APR is excellent and doesn’t expire. The monthly credit limit cap is lower for applying online. Making a distinction between online and mail applications seems backwards.
Take a look at the PNC Travel Rewards Visa Business Credit Card. Get one mile per dollar in eligible net purchases. Earn double miles on the first $2,500 in eligible net purchases. You can book your own travel and then redeem miles for a statement credit. There are no foreign transaction fees on purchases outside US. Pay no annual fee. There’s a variable APR, currently 10.99—19.99%, per creditworthiness.
The APR is good if your credit makes you eligible for the lower end of the spectrum. A statement credit for acting as your own travel agent is good, if you have the time to book your own travel. Double miles are welcome but it’s easy for a business owner to exceed the cap.
What if you want business credit card rewards where you don’t have to spend a lot to get a bonus?
Check out the Bremer Bank Visa Smart Business Rewards card. There’s a $0 annual fee for the first twelve months. Then pay $95 every year after. Pay $95 for Account Owners, and $0 for Authorized Employees. Get double points per dollar spent in your top two spend categories each month. And get one point monthly per dollar spent on other eligible purchases. Earn 20,000 bonus reward points after spending $500 in the first 90 days. Pay a 15.99—20.99% APR per creditworthiness.
The bonus reward points offer is generous, and the spend should be a snap for most businesses to meet. The annual fee for account owners is somewhat high. But no annual fee for authorized employees means you can use this card with a large number of employees.
Take a look at the Mechanics Bank Smart Business Rewards Visa. Pay a $0 introductory annual fee for the first twelve months. Then pay $95 every year after. Pay $95 for Account Owners, and $0 for Authorized Employees.
Get double points per dollar spent in top two spend categories per month. Earn 20,000 bonus rewards points if you spend $500 in the first 90 days. The APR for purchases and balance transfers is 15.99—20.99%, per creditworthiness. This is a very generous bonus for such a low spend!
Get a good look at the Bank of Hope Business Rewards Visa® Credit Card. You pay no annual fee. Earn 5,000 bonus points after spending $1,000 in the first three months. Earn triple points on gas. Get double points on travel and dining. And earn one point per dollar on all other purchases. Pay a 0% introductory APR for nine months. Then pay a variable APR 12.49%, 16.49% or 20.49% per creditworthiness after the introductory period ends.
It should be easy for most entrepreneurs to meet the spend required for the points bonus. Triple points on gas are particularly helpful if yours is a business requiring a lot of time on the road. Say, trucking. If your credit is good enough to get the lowest APR after the introductory period ends, this could be a great card.
Check out the Mechanics Bank Visa Business Real Rewards card. You pay no annual fee. Get 1.5 points per month per dollar. You can get a 2,500 bonus rewards points after first purchase. Pay a 0% introductory APR for purchases and balance transfers for the first six billing cycles. Then pay 13.99—22.99% per creditworthiness. The bonus is decent, and there’s no minimum spend.
How about generous bonuses for your business credit card rewards?
Get a look at the Union Bank Business Preferred Rewards Visa Credit Card. Earn a 50,000 introductory reward points bonus when you spend $5,000 in the first three months. Get quintuple points per dollar spent to $25,000 annually on select business expenses. These are office supplies, utility bills, telecom services. And get one point per dollar spent above that. Earn double points for each dollar spent up to $25,000 annually on gas stations and restaurants. And get one point per dollar spent above that. Plus, get one point per dollar spent on everything else.
Pay a 0% introductory APR for the first six months. Then pay an 11.99—20.99% variable APR. Pay no annual fee. This card has a great introductory points offer and the amount you have to spend to get it isn’t bad.
Want some serious point multipliers? Then look no further.
Take a look at what the Synovus Business Travel Rewards Visa Credit Card is all about. Enjoy a 0% APR for the first six months, for purchases, balance transfers, and overdraft protection. Pay a $0 membership fee for the first year; then pay $50 per year.
Get quintuple points on up to $5,000 per year spent on travel purchases. This includes hotel, airlines, car rental, vacation packages, and more. Earn triple points on up to $3,000 spent quarterly for purchases in category of choice. And get one point per dollar on all eligible purchases, with no limit on points.
You can pay for purchases with points (there are some restrictions).Points are worth 20% more for travel redemption. Pay no foreign transaction fee. If you travel a lot, this could be the best travel rewards card for you.
If you spend a lot, you might want a card where there’s no cap on the cash back you can earn.
With the Mastercard Business Cash Rewards Credit Card, earn 1.25% cash back on all purchases. Get automatic rebates on eligible purchases with Mastercard Easy Savings. Pay a $35 annual fee per card. Pay a 0% introductory APR for nine months; then pay 17.45%.
Rebates via Mastercard Easy Savings are not too generous. For example, 4% off Budget Rent a Car doesn’t amount to much when an economy car can cost over $100 per day. The annual fee is also somewhat concerning. Hence this is not a good card for a large number of employees.
Need travel benefits? If your business travel is local, this is great card.
With the First Hawaiian Bank MasterCard Cash Rewards Business Credit Card, get 3% unlimited cash back on gas and dining. And get 2% unlimited cash back on utilities. Earn 1% unlimited cash back on everything else. There’s no annual fee.
Pay a 15.49% APR. Earn a $200 credit with a $2,000 spend in the first 3 months from account opening. With its somewhat low spend, no annual fee, and decent (but not exceptional) APR, this can be a good card. If your business requires you to travel by car and entertain clients on the road, it’s a great card.
Yes, startups can get in on the business credit card rewards action!
Mercury is an angel-funded bank serving startups. Pay a $0 or $79 annual fee for a Mercury Bank MasterCard. There are cashback rewards but they are not specified on the bank’s website. The transfer APR is $5 or 4% of amount of each transfer, whichever is more. Pay 26.99—29.99% APR.
This could turn out to be a good card for startups. But interest rates are high, so be sure you can pay on time before charging. It also seems to be a personal card. Improving personal credit will help raise your Experian business credit scores. So a good payment history with this one could be worth your time.
You can even get merchant rebates if you prefer.
For merchant rebates, consider the Banner Bank Commercial Rewards Mastercard. Pay a $19/card annual fee. There is a 11.99% APR for purchases. Get 1% cash back.
Get three TruRewards points per dollar of net retail, internet, phone, or mail order purchases. Redeem TruRewards points for cash back, travel, gift cards or merchandise. Use TruRewards with merchants like Starbucks, the Fairmont Hotel, and Cuisinart.
TruRewards offers (for example) a $100 travel voucher with Budget Rent a Car if you redeem 43,300 points. Even with three points per dollar, that still comes to spending over $14,000 to get $100 off! And it can cost over $100 per day to rent a compact car from Budget. The APR is decent although the annual fee is concerning—particularly as there is no introductory waiving of the annual fee.
Rewards business credit cards have varying pros and cons. Your best choice will depend upon factors such as if you’re likely to keep up with payments. Also, how much (and how fast) you can spend to meet a minimum, the APR, annual fees, and if the rewards are useful to you.