Best Business Rewards Credit Card 2020

Best Business Rewards Credit Card 2020

Looking for the best business rewards credit card to earn cash back, points or miles? Here are the business rewards cards that made the cut.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

A business rewards card can make buying the things you need to keep your business running easier, while potentially earning rewards in the form of cash back, points or miles. Choosing the best rewards card for your business means finding one that fits your spending style and delivers maximum value.

We looked at the top cards on ValuePenguin and on major issuer sites to find the best business credit cards with rewards. We've selected the cards that proved to be the most valuable for different categories of business rewards.

Best business credit cards with rewards

Types of business rewards credit cards | How to choose a business rewards card | How to use a business rewards card | FAQs

Best cashback business credit card

Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business
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Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.

Our thoughts

The Capital One® Spark® Cash for Business rewards card is a great option if you want to keep earning and redeeming rewards simple. This card offers unlimited 2% Cash Back for your business on every purchase, everywhere, with no bonus categories or tiers to worry about. You can redeem that cash back at any time, in any amount, with no minimums.

Employee cards can be added on at no additional cost, giving you even more opportunity to earn cash rewards for your business. Spending limits can be preset so you stay in control of what employees charge.

Benefits

  • Earn a generous 2% Cash Back for your business on every purchase, everywhere, from travel to utilities to office supplies.
  • Qualify for a competitive introductory $500 cash bonus when you meet the minimum spending requirement.
  • Take advantage of other perks, such as roadside assistance and purchase protection.

Drawbacks

  • There is no introductory APR promotion for purchases or balance transfers.
  • You'll pay a annual fee $0 intro for first year; $95 after that.
  • While you can earn cash back on travel purchases, this card is light on travel perks.

Best business credit card for points

Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card
This product is not available through ValuePenguin.
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Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.

Our thoughts

The Ink Business Preferred℠ Credit Card is one of the best business rewards credit cards if you're looking for a big sign-up bonus. The card's bonus is worth $1,250 when you redeem points for travel through Chase Ultimate Rewards®. You can also transfer points to partner hotels and airlines.

This card is also generous when it comes to ongoing rewards. You can Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn.

Benefits

  • Very competitive introductory points bonus for business owners who can meet the minimum spending requirement.
  • Earn a generous rewards rate on travel and everyday business purchases.
  • Get 25% more rewards value when redeeming points for travel through Chase Ultimate Rewards.

Drawbacks

  • There is a $95 annual fee, though employee cards are available at no cost.
  • Currently, there's no promotional APR for purchases or balance transfers.
  • Chase 1:1 points transfers are only available with select travel partners.

Best cashback category business credit card

Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card
This product is not available through ValuePenguin.
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Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.

Our thoughts

If you'd prefer cash to points, the Ink Business Cash℠ Credit Card is one of the best business rewards cards in that regard. This card lets you Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Rewards can be redeemed for cash, gift cards or even travel through Chase Ultimate Rewards. Best of all, this card has a $0 annual fee and it costs you nothing to add employee cards to earn even more cash back.

Benefits

  • Enjoy a competitive cashback rate on everyday purchases for your business.
  • Pay $0 annual fee and no fee to add employee cards to your account.
  • A low minimum spending requirement could make it easier to qualify for the $500 introductory cash bonus.
  • Intro APR of 0% for 12 Months on purchases (14.74% - 20.74% Variable APR thereafter).

Drawbacks

  • Aside from some basic travel, purchase and fraud protections this card doesn't come packed with a lot of extras.
  • While there is a 0% introductory APR for purchases, the regular variable APR could make carrying a balance more expensive.
  • The introductory APR for purchases doesn't extend to balance transfers.

Best business credit card for luxury travel

The Business Platinum Card® from American Express

Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.

Our thoughts

The Business Platinum Card® from American Express has a reputation for being one of the best business rewards cards for premium travel benefits. For example, card benefits include a $200 annual airline fee credit, access to the American Express Global Lounge Collection, Marriott Bonvoy Gold Elite Status and a fee credit to Global Entry or TSA PreCheck.

Aside from those benefits, this card is also extremely rewarding, allowing you to earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more.. 1 point per dollar on all other purchases.

Benefits

  • Earn a competitive rewards rate on hotels and airfare, which is great if you regularly spend on business travel.
  • Use your Membership Rewards points to pay for travel and get 35% of those points back, up to 500,000 points per year.
  • Pay no foreign transaction fees and enjoy benefits like trip cancellation and trip delay insurance.
  • From now through Dec. 31, 2020, get up to $100 in additional statement credits for U.S. purchases with Dell technologies.
  • Terms apply.

Drawbacks

  • This is a charge card so you're expected to pay your balance in full each month.
  • At $595, this card's annual fee makes it one of the most expensive business rewards cards.
  • Only travel purchases booked through amextravel.com earn the 5 points per dollar.
  • Terms apply.

Best business credit card for airline miles

Southwest Rapid Rewards® Performance Business Credit Card

Southwest Rapid Rewards® Performance Business Credit Card
This product is not available through ValuePenguin.
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Earn 70,000 points after you spend $5,000 on purchases in the first 3 months. Plus, earn an additional 30,000 points after you spend $25,000 on purchases in the first 6 months.

Our thoughts

The Southwest Rapid Rewards® Performance Business Credit Card could be a good fit if you want to earn rewards toward the Southwest Companion Pass. As of 2020, you need to earn 125,000 Rapid Rewards points annually to qualify for the Companion Pass. If you qualify for this card's 100,000-point introductory bonus, you could easily make a dent in that total.

On top of that, this card offers Southwest purchases 3 points per $1 spent on Southwest® purchases. 2 points per $1 spent on social media and search engine advertising, Internet, cable and phone services. 1 point per $1 spent on all other purchases. and there are no limits on the number of points you can earn.

Benefits

  • Receive an additional 9,000 bonus points after your cardmember anniversary.
  • Get up to four upgraded boardings per year when available.
  • Enjoy a fee credit toward Global Entry or TSA PreCheck of up to $100 every four years.

Drawbacks

  • There is a $199 annual fee, which is applied to your first billing statement.
  • There's no introductory APR for purchases or balance transfers and the regular APR (17.49% - 24.49% Variable) can be on the higher side, depending on creditworthiness.
  • Because Southwest doesn't have airline or hotel travel partners, you only get the most value from points when redeeming for Southwest flights.

Best business credit card with no annual fee

American Express® Blue Business Cash Card

No annual fee

13.24% - 19.24% Variable

Good/Excellent

  • Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
  • Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
  • Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
  • No Annual Fee
  • Terms Apply
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Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.

Our thoughts

The American Express Blue Business Cash™ Card offers a straightforward cashback rewards program with No annual fee. With this card, you can Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cashback rewards are automatically applied as a statement credit.

This card also offers Expanded Buying Power, allowing you to make purchases above your credit limit when needed. No annual fee and a low introductory APR for purchases add to the card's value.

Benefits

  • Earn competitive cashback rewards without an annual fee nibbling away at their value.
  • Enjoy travel benefits such as roadside assistance and car rental loss and damage insurance.
  • Your purchases are covered by purchase protection and extended warranty protection.
  • Terms apply.

Drawbacks

  • The introductory bonus is a little underwhelming compared to what some cashback business rewards cards offer.
  • This card may not be the best option for earning cash back if you typically spend more than $50,000 annually.
  • There is a 2.7% foreign transaction fee.
  • Terms apply.

For rates and fees of the American Express Blue Business Cash™ Card, please click here.

Best travel business credit card with no annual fee

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
This product is not available through ValuePenguin.
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Earn 25,000 bonus points when you make at least $1,000 in net purchases in the first two months of your account opening.

Our thoughts

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is designed for travel expenses but it also offers an above-average rewards rate for everyday purchases. With this card, you can earn 3 points per dollar when you book travel through the Bank of America Travel Center, along with 1.5 points per dollar on everything else.

This card pays off even more if you're a Bank of America Preferred Rewards for Business member. Depending on your status in the program, you could earn up to 75% more rewards on every purchase you make.

Benefits

  • The introductory bonus is worth $300 in travel statement credits.
  • There's No Annual Fee and no foreign transaction fee associated with this card.
  • This card offers flexible redemption options, including using points to pay for travel through the Bank of America Travel Center, applying them as statement credit or redeeming for cash back.
  • Get an introductory APR of 0% for 9 months on purchases (12.24% - 22.24% Variable APR thereafter)

Drawbacks

  • There's no option to transfer points earned with this card to travel partners.
  • The introductory bonus isn't as competitive as what other travel business rewards cards can offer.
  • This card is light on travel perks and extra features.

Best business credit card for hotel rewards

The Hilton Honors American Express Business Card

$95

15.74% - 24.74% Variable

Good/Excellent

  • Welcome Offer: Earn 130,000 Hilton Honors Bonus Points with the Hilton Honors American Express Business Card after you spend $3,000 in eligible purchases on the Card in the first 3 months of Card Membership.
  • Earn Hilton Honors Bonus Points for each dollar of eligible purchases on your Card: 12X at hotels and resorts in the Hilton portfolio, 6X on Select Business & Travel Purchases, 3X on all other eligible purchases. Terms & Limitations Apply.
  • Enjoy complimentary Gold Status with your Hilton Honors Business Card.
  • Earn a Weekend Night Reward from Hilton Honors after you spend $15,000 in purchases on your Card in a calendar year.
  • Earn another Weekend Night Reward from Hilton Honors after you spend an additional $45,000 in purchases on your Card in the same calendar year.
  • Relax with 10 free airport lounge visits each year once enrolled in complimentary Priority Pass™ Select membership, which offers access to over 1,000 lounges in over 120 countries.
  • Terms apply.
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130,000 Hilton Honors Bonus Points with the Hilton Honors American Express Business Card after you spend $3,000 in eligible purchases on the Card in the first 3 months of Card Membership.

Our thoughts

If you're looking for a card that can help you earn free nights, The Hilton Honors American Express Business Card is a solid choice. Aside from a very generous introductory bonus, you can earn 12X at hotels and resorts in the Hilton portfolio, 6X on Select Business & Travel Purchases, 3X Everywhere Else. Terms & Limitations Apply.

Plus, you get complimentary Hilton Honors Gold Status to unlock even more money-saving travel benefits for a low annual fee of $95.

Benefits

  • This card can be exceptionally rewarding if you're loyal to the Hilton brand when booking hotel stays.
  • Travel perks include a free weekend reward night, 10 free Priority Pass visits and an opportunity to upgrade to Diamond Status in the Hilton Honors program.
  • There's no foreign transaction fee, which is great if you take business trips abroad.
  • Terms apply.

Drawbacks

  • There is a $95 annual fee to consider if you'd rather avoid paying a fee to earn business rewards.
  • You have to spend a minimum of $40,000 per year with your card to qualify for Hilton Honors Diamond Status.
  • This card may not be the best fit if you book hotels other than Hilton for business travel.
  • Terms apply.

For rates and fees of the The Hilton Honors American Express Business Card, please click here.

Compare business credit cards

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Types of business rewards credit cards

Business rewards credit cards aren't all alike and it's helpful to know how to compare them. For example, cards can differ when it comes to the rewards they offer, as well as the APR and fees they charge or the perks and benefits they include.

Business credit cards with points

Some business credit cards, including a few of the best business credit cards listed here, reward you with points for purchases. Depending on the card, you may earn a flat number of points or rewards may be tiered, with some purchases earning more points than others.

When comparing business rewards cards that offer points, it's important to consider what those points are worth when it's time to redeem them. For example, a card that's designed for travel is typically going to give you the most value when you redeem points for travel purchases. A card that earns points for everyday purchases, on the other hand, may offer maximum redemption value for statement credit or cash back.

Business credit cards with airline miles

Business credit cards that earn airline miles could be a great choice if you're a frequent flyer. These cards let you earn miles that can be redeemed for fares aboard participating airlines. Depending on the card, you may be able to transfer miles to other airlines or frequent flyer programs for redemption.

Cashback business credit cards

Earning cash back with a business credit card is essentially like getting a discount on the things you buy. Depending on the card, you could either apply rewards as a statement credit to previous purchases or get cash deposited into a business bank account that you can then spend as you see fit.

Business credit cards with hotel rewards

Hotel rewards credit cards are designed for business owners who are interested in earning points toward free nights. These cards are typically co-branded toward a specific hotel chain, i.e., Hilton or Marriott. Hotel rewards cards can also feature additional travel incentives, such as room upgrades or complimentary hotel lounge access.

How to choose business rewards credit card

Choosing the right business rewards card is important because you don't want to end up with a card mismatch. Ideally, the card you decide on should offer a rewards program that fits how you spend. But it's also important to pay attention to things like the APR, fees and other card features.

Points/miles vs. cash back

Whether it makes more sense to choose a business rewards card that earns miles or points versus cash back depends largely on how you plan to use your rewards.

If you're primarily interested in using rewards to save money on business travel, then you might naturally lean toward a card that allows you to earn miles or points on purchases. On the other hand, if you mostly spend on everyday purchases then earning cash back could be a way to save your business money on what you buy.

Sign-up bonus

Many, though not all, business rewards credit cards offer an introductory sign-up bonus of some kind. This can be points, miles, cash back or statement credit, depending on the card.

When comparing card bonuses, don't focus solely on how large or small it is. Also consider how much you have to spend to qualify for the bonus and whether the card issuer has any other requirements to be eligible for the bonus.

Spending categories

If you're interested in a business rewards card that has a tiered-rewards program, consider how rewards are assigned to different spending categories. If you spend the most money on office supplies, for example, then it makes sense to choose a card that rewards you the most in that category. Also, be aware of whether there are any caps on the amount of rewards you can earn in each spending category.

Annual fee

Paying an annual fee for a business rewards credit card can be worth it if it's justified by the rewards you're earning and/or the card perks you're getting. If you're looking at a card that has an annual fee, calculate how quickly you'll be able to earn it back in rewards. And compare the cost of the fee to the value of any benefits of added features that are included, such as airport lounge access or a Global Entry/TSA PreCheck fee credit.

APRs

Your card's annual percentage rate matters if you think you'll carry a balance from month to month or you want to transfer a balance. Take a look at the regular variable purchase APR as well as the balance transfer APR so you know how much carrying a balance will cost.

Business-specific benefits

Many business rewards credit cards come with built-in features that can make running your business and managing your card easier. For example, if you plan to add on employee cards then something like employee spending controls could be useful to have. Or being able to sync your card account with your business's accounting software could make tracking expenses and organizing tax-deductible purchases easier.

Other benefits

Aside from premium travel benefits or business-specific benefits, check to see what else a business credit card includes that could make it more useful or valuable. For example, you may want benefits such as purchase protection, extended warranty protection, travel accident insurance or roadside assistance included.

How to make the most of a business rewards credit card

If you're planning to open a new business rewards credit card, then it pays to know how to use it to its maximum potential. Here are a few quick tips for getting the most from your card.

  • Review the rewards structure. It should go without saying but be sure you know up front how you can earn rewards and where, as well as whether there are any caps or limitations on earning them.
  • Compare values for redemption options. If your card offers multiple ways to redeem points, cash back or miles, be sure to do the math so you know which one offers the most value.
  • Transfer points or miles strategically. If you have a business rewards card that allows for points or miles transfers to partner airlines and hotels, compare the transfer values first. Ideally, you should be able to transfer points at 1:1 ratio or better to make it worth your while.
  • Pay in full and on time. Carrying a balance on your business rewards card means paying interest, which can diminish the value of the rewards you're earning. And remember that paying late could hurt your business credit score.
  • Don't let card benefits go unused. If your business rewards card offers extras, such as airline fee credits or hotel benefits, make sure you're taking advantage of them when booking trips.

To wrap up this best business credit cards with rewards guide, here are answers to some of the most often-asked questions about how these cards work.

Are business credit card rewards taxable?

You might be wondering whether the rewards you earn with your card can be taxed, and the short answer is no. Cash back, points and miles aren't treated as income, meaning credit card rewards aren't taxable.

Can you use business credit card rewards for personal use?

Technically, yes you can use a business credit to make personal purchases. But this is generally not advisable for a couple of reasons.

First, your card agreement might specify that your card is only to be used for business purposes. So charging personal spending could violate your card agreement terms.

And second, mingling business and personal spending can make filing your business taxes tricky if you're not keeping track of purchases. You could run the risk of missing out on a tax deduction or claiming personal expenses as business expenses, both of which could complicate your tax filing.

What is the best business credit card for rewards?

There is no one-size-fits-all answer to this question. Ultimately, the best business rewards credit card is the one that fits your business's spending needs and habits, while matching up with what you want to pay in terms of the annual fee and APR.

The information related to Southwest Rapid Rewards® Performance Business Credit Card, Capital One® Spark® Cash for Business, Ink Business Preferred℠ Credit Card, Ink Business Cash℠ Credit Card, The Business Platinum® Card from American Express and Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Rebecca Lake has been writing about personal finance and business for nearly a decade. In addition to covering credit cards and investing for U.S. News, she's a regular contributor to CreditCards.com and The Balance. She's also worked with a number of banking and financial brands, including Citibank, Discover Bank and AIG Insurance.

Lake's other publication credits include a number of credit-focused personal finance sites, such as Credit Karma, Credit Sesame and CreditDonkey. As a small business owner, she's particularly interested in educating entrepreneurs, fellow business owners and side hustlers on how to build credit by leveraging credit cards and loans. Originally from the mountains of Virginia, she now lives on the coast of North Carolina with her two children. You can follow her on Twitter @seemomwrite or connect with her on LinkedIn.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).