Starting a business is an exciting yet challenging journey, and having the right financial tools can make all the difference. One of the most crucial tools for a startup is a business credit card, which can provide not only the needed credit but also rewards and perks that align with your business needs.
Here are The 7 Best Business Credit Cards for Startups
1. American Express Blue Business Cash™ Card
For startups, the American Express Blue Business Cash™ Card is a great option for its ease of use and high value. It includes a 2% rebate on the first $50K in eligible purchases per year that is posted to your card account. It’s an ideal card if you value cash back above all else and don’t want to deal with tracking rotating categories. It also features a 0% intro APR on purchases for the first year, which can be useful for making early expenses without paying any interest. It has no annual fee, so it’s an inexpensive option for a startup that wants to keep as much cash on hand as possible.
2. Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is known for its outstanding rewards program. You earn 3 points per $1 on the first $150,000 spent in combined purchases for travel and select business categories each account anniversary year. This card is especially useful for those who have a lot of travel expenses on their pragmatic play startup or are going to spend big on advertising, shipping, and internet services. The card also comes with a generous welcome bonus of 100,000 points after spending $8.0K in the first three months, which can be worth up to $1,250 if you redeem through Chase Ultimate Rewards. Although it has a $95 annual fee, the rewards make up for it if your business spending falls in line with the card’s reward categories.
3. U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®
For startups looking to earn cash back with a lengthy 0% APR period, the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® is a top contender. This card offers 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers, and restaurants, with 1% cash back on all other purchases. Additionally, there’s a $750 cash back bonus after spending $6,000 in the first 180 days. One of the card’s standout features is the 0% introductory APR on purchases for 15 billing cycles, which can be incredibly helpful if you need to manage startup costs over time without paying interest. Plus, there’s no annual fee, making it a very attractive option for cost-conscious businesses.
4. Capital One Spark 2% Cash Plus
The Capital One Spark 2% Cash Plus card is ideal for startups that want to maximize cash back without worrying about spending categories. This card offers an unlimited 2% cash back on all purchases, which is straightforward and highly rewarding. There’s also a substantial welcome bonus of $1,200 after spending $30,000 in the first three months. However, the card comes with a $150 annual fee, which is refundable if you spend at least $150,000 annually. Additionally, there are no foreign transaction fees, making it a great choice for startups that do business internationally.
5. Brex Corporate Card for Startups
The Brex Corporate Card is specifically designed for venture-backed startups. It stands out for offering high credit limits and no personal guarantee requirements, making it easier for new businesses to access credit. The card also provides up to 8x points on rideshare, 5x on travel booked through Brex, and 3x on restaurants. One unique aspect of the Brex card is its flexibility in payments; you can choose between daily and monthly payments, with the former earning you more rewards. The Brex card has no annual fee and offers free employee cards, which is a great advantage for startups with growing teams.
6. Ramp Corporate Card
If your startup is focused on budget management, the Ramp Corporate Card is an excellent fit. With a straightforward 1.5% cash back on all purchases—without any limits or restrictions—it simplifies expense management, making it appealing for all spending categories. The Ramp Card is also renowned for its integrated expense management tools, enabling startups to efficiently track and control spending without needing additional software. With no annual fees, no interest rates, and no foreign transaction fees, it’s a cost-effective option for startups of any size. However, the absence of a welcome bonus might be a factor if initial rewards are important to you.
7. Amazon Business Prime American Express Card
The Amazon Business Prime American Express Card is a good option for startups that regularly buy things on Amazon. The card gives 5% cash back on Amazon Business, all purchases at Amazon Web Services (AWS), and only those made directly through Amazon.com. com, and at Whole Foods (but not 2%), and 2% cash back on restaurants, gas stations & wireless telephone services. Depending on what works for your business, you can instead of 5% cash back for Amazon purchases get the option to select a different set — such as offering a “90-day interest-free period.” The card does not have an annual fee but is a Prime-only card, so you already must be paying for Amazon Prime to consider this one. However, this is a card that offers some genuine worth for businesses currently immersed in the Amazon ecosystem.
Conclusion:
The best business credit cards for startups to choose depends on what YOUR specific needs are—maximizing rewards, improving cash flow, or covering your travel expenses. And all of these cards come with valuable benefits that can help your startup thrive in 2024-25. Understand the spending patterns of your business as well as financial goals and choose wisely which credit card suits you best to get some rewards and flexibility in finance.
