Best Commercial Credit Cards for Businesses 2023
There are lots of commercial credit cards going around today, but the question is, do you know the best commercial credit card? In an industry that is very competitive, that is a tough question.
Both corporate and business credit cards allow users to set limits on individual cards, but corporate credit cards give a greater level of control. Many feature built-in analytical tools, such as accounting and tracking options, which can reduce cost and time in expense management.
Before we go into the business of today of revealing what the best commercial credit card is, here is a quick question for you; do you know what a commercial credit card is? For the benefit of those that know nothing about it, here is what a commercial credit card is.
Best Commercial Credit Card
A commercial credit card is a credit card that is issued by employers of a company for their employees to make use of in making necessary purchases on behalf of their company. Commercial credit cards are beneficial in making various businesses manage their expenses.
And this is done by collecting all the charges made by employees in one single place. There are lots of commercial credit cards going on in the rounds today. And of all these cards, they are all different from one another in neither one way nor the other. Below is a list of the 5 best commercial credit cards for businesses:
Blue Business Plus Credit Card from American Express
The Blue Business Plus card is a rare example of a no-annual-fee way to game your rewards earnings. You’ll earn 2X points on all purchases up to $50,000 per year. It’s a perfect fit if your business is small enough to spend less than $50,000 per year.
If not, spend up to the $50,000 max, then switch to another card for the rest of the year’s purchases. You’ll win either way. This card has a welcome bonus of 15,000 points and it charges no annual fee.
The card offers a wide variety of airline transfer partners and already has no annual fee charge. It has rewards on the first $50,000 in yearly spending. The downside of it though is that it charges a 2.7% foreign transaction fee and its 2 points dollar rewards rate falls to a point per dollar after $50,000 in yearly spending.
World of Hyatt Business Credit Card
The World of Hyatt Business Credit Card marries a continuous profit structure with the capacity to utilize card spending as an additional lift toward procuring status with the chain. This card has a 75,000 bonus points welcome bonus and an annual fee of $199.
Some of the pros of using this card are that it has a welcome bonus and solid earning rates and it also has an automatic discoveries status. The downsides of this card are that it charges an annual fee for its services. It also has a low earning rate for non-bonuses spending and base-level status with card offers limited benefits.
United Club Business Card
The card is made for business owners and directors who fly vigorously on United and live for extravagance advantages. The $450 yearly charge is offset by the free United Club relax enrollment (worth $550/year), so the other advantages are basically free.
You’ll procure a clever 1.5 miles-per-dollar on all buys (2-1 on United), unbounded or spending classifications. The united club business card has a 75,000 miles welcome bonus and an annual fee of $450.
Some of the Pros of using this Card Include;
- Free membership to the united club.
- Luxury travelling benefits inclusive of premier access.
- A visa signature concierge.
- And free employee cards.
Cons of this Card Include;
- There are no paths to elite status.
- There are restrictions to seats on saver award flights.
- A $75 fee for booking within 21 days of departure.
- Lastly, high fees on award change.
Ink Business Unlimited Credit Card
With this card, you get to earn a $750 bonus cash back with a $0 annual fee. If you are a busy business owner, you will find this card very generous in the sense that its simple flat-rate rewards program does not require time to manage and also optimize. The card has an unlimited 1.5 cash back reward on all purchases.
There is no annual fee charged for this card and it also has a very generous welcome bonus. It offers a 0% intro APR on various purchases for one year. Cash backs are awarded as ultimate rewards, which can be combined with premium chase credit card accounts for better options in terms of redeeming rewards. The downsides of this card are that it offers or charges high foreign transaction fees and it is also not a good card for balance transfers.
Chase Ink Business Premier
This card is the best in terms of flat-rate cash-back business cards. The card offers a $1000 cashback welcome bonus and an annual fee of $195. Some of the pros of using this card include;
- A strong welcome offer.
- It has 5% cash back on travel purchased via the chase ultimate rewards, 2.5% cash back on every purchase in
- the amount of $5,000 or more, and a 2% cash back on every other purchase.
- There is no annual fee for employee cards.
- It offers several purchase and travel protections.
The downsides of it however include;
- A high annual fee.
- It is designed to be paid in full every month.
- Points also cannot be transferred to hotel or airline programs.
- And lastly, points can also not be transferred to other ultimate rewards-earning cards.
How Does Commercial Credit Card Work?
The card is issued by a bank to the applicant company, which is then used by the company to fund industrial expenditures. In other for this to be possible the company has to take the card, and fund the card with a certain amount of money for financing day-to-day operations, new business opportunities, purchasing equipment and covering other costs.
How Do I Get a Commercial Credit Card
In other to access this credit card, you should have the following:
- Choose the right business structure.
- Get a Federal tax Id.
- Open a Business bank account.
- Create a relationship with vendors or supplier reports.
- Lastly, monitor your business report.
With all these essential items up in check, you can access a commercial card and also make your business effectively.
What are the Benefits Of Having a Commercial Credit Card
With a commercial credit card, you can be able to keep your business in check by monitoring the outflow and inflow of money. Furthermore, it helps you obtain the capital you need to expand your business and cover day t day expenses. Also, it allows you to purchase inventory, hire additional staff and allow you to conserve the cash on hand for the cost of business financing.
What Can You Buy With a Commercial Credit Card?
Since this card is basically used for business activities, it can be used to purchase office items like work supplies, and office furniture or even use to sponsor the trip of an employee and others. In simple words, it is used for the growth and benefit of a business.