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The best cash-back business credit cards to save your company money – News Opener

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Business credit cards are a great way to separate personal and work-related expenses, while also earning valuable rewards in the process.

The best part is that you don’t need to own a multi-million dollar business with multiple employees to qualify for a business card — a side hustle can also be considered a business in the eyes of credit card issuers. So whether you’re a rideshare driver, mow lawns on the weekend or are a freelancer, you may be eligible to apply.

While there are many different types of rewards credit cards on the market, for some companies, the best option might be one that offers cold hard cash back. So for this round-up, Select analyzed the top cash-back business credit cards, digging into each card’s perks and drawbacks to find the best one to suit your needs. (See our methodology for more information on how we choose the best cards.)

Here are Select’s picks for the top cash-back business credit cards that can help you save on your monthly business expenses.

The best cash-back business credit cards

FAQs

Winner

Ink Business Unlimited® Credit Card

  • Rewards

    Earn 1.5% cash back on every purchase made for your business

  • Welcome bonus

    Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months after account opening

  • Annual fee

  • Intro APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

Who’s this for? The Chase Ink Business Unlimited tops this list because of its welcome bonus, unlimited 1.5% cash back on all purchases, favorable financing options and no annual fee. The card is ideal for business owners who don’t want the hassle of tracking spending categories but want to continue saving on their ongoing business expenses.

When you’re approved for this card, you can earn $750 in bonus cash back after you spend $7,500 on purchases in the first three months after account opening. And as you spend on the card, you’ll earn a respectable 1.5% cashback. So if you’re able to meet the minimum spending requirement, you’ll have $862 in rewards — an 11.5% return on your initial spending.

The card has no annual fee and it offers a 0% intro APR for the first 12 months on new purchases (after, 15.49% to 21.49% variable APR). There’s also no fee for adding employee cards.

Runner-up

Blue Business Cash™ Card from American Express

On the American Express secure site

  • Rewards

    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

  • Welcome bonus

    Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.

  • Annual fee

  • Intro APR

    0% for 12 months on purchases from date of account opening

  • Regular APR

    15.49% – 23.49% variable 

  • Balance transfer fee

  • Foreign transaction fee

  • Credit needed

Pros

  • No annual fee
  • Straightforward rewards program
  • Spend beyond your credit limit with Expanded Buying Power

Cons

  • 2.7% foreign transaction fee

Who’s this for? The American Express Blue Business Cash Card is perfect for business owners who want solid rewards without tracking spending categories. It has a simple earning structure and offers some useful features.

To get started, you can earn a $250 statement credit after you spend $3,000 on the card in your first three months. You also earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back after that. This means you can earn $310 in cash back for your business by meeting the minimum spending requirement.

There’s no annual fee and there are several perks that can assist small business owners. (See rates and fees.) For instance, your business may be able to spend above its credit limit through Expanded Buying Power. Additionally, cardholders get extended warranty coverage and purchase protection and you can add up to 99 employees free of charge.

Best welcome bonus

Capital One Spark 2% Cash Plus Credit Card

Who’s this for? The Capital One Spark 2% Cash Plus Credit Card is best for business owners who have significant monthly expenses as the card has a high spending requirement for its welcome offer. But if you can meet the requirements, it can certainly be worth it.

When you’re approved for the card, you earn up to a $1,000 cash bonus. The bonus is broken up into two tiers:

  • Earn $500 once you spend $5,000 in the first three months
  • Earn an additional $500 once you spend $50,000 in the first six months

And as you spend on the card, you’ll earn 2% cash back for your business on every purchase, and 5% cash back on hotels and rental cars booked through Capital One Travel.

The card has a modest $150 annual fee, but keep in mind that credit card annual fees are tax-deductible for your business. It’s also important to note that this card doesn’t charge interest — you’ll simply owe a 2.99% late fee for the unpaid portion of your statement balance. However, your account will be considered past due until you make your payment in full.

Learn more: Capital One Spark Cash Plus Credit Card

Best for office supplies

Ink Business Cash® Credit Card

  • Rewards

    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 (then 1%); 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year (then 1%); 1% cash back on all other purchases

  • Welcome bonus

    Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months after account opening

  • Annual fee

  • Intro APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

Who’s this for? The Chase Ink Business Cash Credit Card is an excellent card for businesses whose primary expenses fall under popular spending categories like office supplies and phone services.

As you spend on the card, you’ll 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 (then 1%)
  • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year (then 1%)
  • 1% cash back on all other purchases

In addition to these valuable cash-back categories, you can also earn $750 in bonus cash back after you spend $7,500 on purchases in the first three months after account opening.

The card has no annual fee and comes with purchase protection, extended warranty protection and various travel protections. You can also request cards for employees at no additional cost.

Best for bank loyalty

Bank of America Business Advantage Unlimited Cash Rewards

  • Rewards

    Earn unlimited 1.5% cash back on all purchases everywhere, every time.

  • Minimum deposit

    Open your account with a security deposit (minimum $1,000). Upon approval your credit line will be equal to your deposit account.

  • Annual fee

  • Intro APR

    0% on purchases for nine billing cycles from account opening

  • Regular APR

  • Balance transfer fee

    Either $10 or 4% of the amount of each transaction, whichever is greater.

  • Foreign transaction fees

  • Credit needed

Who’s this for? The Bank of America Business Advantage Unlimited Cash Rewards card is best for those who already have, or want to build, a bank relationship with Bank of America.

When you’re approved for the card, you can earn a $300 statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. And as you spend on the card, you’ll earn 1.5% cash back on all purchases.

The card also has no annual fee and comes with a 0% intro APR for the first nine months (after, 14.49% to 24.49% variable APR)

However, the magic of this business credit card is the Preferred Rewards loyalty program, where you can earn up to 2.62% cash back on all purchases with the card. This is based on your three-month combined average business balances. To hit the Platinum Honors level to earn the 2.62% cash back, you must have a three-month average of $100,000 across your business accounts.

Best for travel

U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

On U.S. Bank’s secure site

  • Rewards

    Earn 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers and restaurants. Earn 1% cash back on all other eligible net purchases.

  • Welcome bonus

    Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the account owner’s card in the first 150 days of opening your account.

  • Annual fee

  • Intro APR

    0% for 15 billing cycles on purchases and balance transfers

  • Regular APR

    16.24% – 25.24% (Variable)

  • Balance transfer fee

    Either $5 or 3% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

Pros

  • No annual fee
  • $500 welcome bonus offer
  • No limit on cash back earned
  • Interest-free period for the first 15 billing cycles on purchases and balance transfers
  • Annual $100 statement credit for recurring software subscription services

Cons

  • 3% foreign transaction fee

Who’s this for? The U.S. Bank Business Triple Cash Rewards World Elite Mastercard is a great option for businesses whose employees are frequently on the road.

The card earns 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center and 3% cash back at gas and EV charging stations, office supply stores, cell phone providers and restaurants. All other purchases earn a standard 1% cash back. In addition, you can also earn a solid $500 in cash back when you spend $4,500 in the first 150 days of the account being open.

There’s no annual fee and businesses can benefit from a lengthy 0% intro APR offer for the first 15 billing cycles of the card (variable APR ranging from 16.24% to 25.24% afterward). Cardholders can also enjoy up to a $100 annual statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.

Best for building business credit

Capital One Spark 1% Classic

Who’s this for? The Capital One Spark 1% Classic is a solid choice for business owners looking to build their credit scores up.

Unlike most other credit cards on this list, you can get approved for the Capital One Spark Classic with just fair or average credit. According to Capital One, this can include those who have defaulted on a loan in the past 5 years or simply those with limited credit history.

While there’s no welcome bonus, users can earn an unlimited 1% cash back on every purchase for their business. Plus, the card offers 5% cash back on hotels and rental cars booked through Capital One Travel.

The benefits are fairly limited, but the card has no annual fee, and once you build your business credit, you’ll be able to apply for more valuable cards in the future.

Learn more: Capital One Spark 1% Classic

FAQs

Is cash back on a business credit card taxable?

Can I use business credit card rewards for personal use?

Yes, you can redeem the rewards you earn with your business credit card for personal use. However, experts generally recommend reinvesting the rewards into your company.

Can I apply for a business credit card without a business?

You must have a business to get a business credit card. However, the definition of a business is broad so you may be eligible to apply with a simple side hustle like babysitting, freelancing or selling crafts or goods online.

What do I need to apply for a business credit card?

When you apply for a business credit card, you will generally need to provide the following information:

  • Personal information
  • Business name
  • Business address and phone number
  • Industry type and company structure
  • Years in business
  • Number of employees
  • Annual business revenue
  • Estimated monthly spend
  • Tax identification number

Bottom line

Our methodology

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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