The right business credit card serves as a tool to help you keep track of your business purchases, manage your finances, and even fund major purchases.
Having a business card that earns rewards can also help offset business travel expenses or add revenue to your bottom line.
Credit card issuer Citibank does not issue a lot of business credit cards, but there are 2 that could potentially add value to specific businesses.
If your business shops a lot at Costco warehouse stores (and Costco.com) or if American Airlines is your choice of air carriers, your business might benefit from one of the cards we’re going to discuss today.
Let’s look more closely at Citi’s business card offerings and see if your business could find value in either of these cards.
Best Citi Business Card for Cash-Back Rewards
If you find yourself making a lot of business purchases at Costco, you may benefit from the Costco Anywhere Business card.
The card supports your Costco membership by allowing you to stack rewards and take advantage of special offers and delivers cash-back that can help your business’s bottom line.
Top Reasons to Get the Card
- 4% cash-back at gas stations worldwide, including Costco (up to $7,000 in purchases/year; 1% thereafter)
- 3% cash-back on travel purchases and at restaurants
- 2% cash-back at Costco and Costco.com
- 1% cash-back on all other purchases
- No annual fee for Costco members
Why We Like the Card for Businesses
We like that the Costco Anywhere Business card earns rewards on every purchase your business makes, including non-Costco purchases.
If your business has a Business Executive Membership with Costco ($120/year), you can receive 2% rewards on eligible purchases in addition to the 2% cash-back on purchases made with your Costco Anywhere Business card. That’s a total of 4% of your purchases in rewards.
You can use your cash-back annual rewards certificate towards additional purchases at Costco or receive cash.
The Costco Anywhere Business card can be used to leverage your Costco business membership to get the best deals possible on your purchases and also get cash-back.
- Damage and Theft Purchase Protection — If the eligible purchase made with your Costco Anywhere Business card is stolen or damaged, you could receive up to $10,000 per incident/$50,000 maximum per calendar year. Coverage is good for 120 days (90 days for New York residents) from the date of purchase.
- No Foreign Transaction Fees — Use your card anywhere Visa is accepted worldwide with no foreign transaction fees.
For complete terms and conditions, please access the Citi Guide to Benefits.
- Costco membership is required
- No welcome bonus
- Rewards are distributed once a year in certificate form and expire the same year
- Lack of travel-related card benefits
- High penalty APR for late payments
Bottom Line: If your business has a Costco membership and spends at the warehouse store or Costco online, the Costco Anywhere Business card makes a perfect companion to your membership with no additional cost to your business. However, you may need to supplement the card with a travel rewards credit card to secure any desired travel-related benefits.
Best Citi Business Card for Earning Miles Rewards
Top Reasons to Get the Card
- Generous welcome bonus of AAdvantage redeemable miles
- Earn 2 miles per dollar spent on American Airlines, telecommunications, satellite and cable providers, car rentals, and at gas stations
- Preferred boarding on American Airlines flights
- A free checked bag for the cardholder and up to 4 traveling companions
- 25% statement credit for inflight Wi-Fi purchases
Why We Like the Card for Businesses
Although the card is designed to reward loyal American Airlines flyers, the card also earns elevated rewards on common business expenses such as telecommunication and cable. Additionally, if your business spends a lot on gas and car rentals, you’ll find those purchases will earn double miles.
Redeeming American Airlines frequent flyer miles for award flights can also offset the cost of business travel. There is no charge to add authorized users, including employees, to the card.
- No Foreign Transaction Fees — Use anywhere Mastercard is accepted without foreign transaction fees.
Bottom Line: There may be value for your business in one of the aforementioned cards if your business shops frequently at Costco or chooses American Airlines as its primary carrier. You might also choose to supplement your Citi business card with another rewards-earning card that offers travel benefits and additional earning potential.
Alternative $0 Annual Fee Rewards Cards
If you’re looking for earnings on every purchase your business makes, the Amex Blue Business Cash could be an appropriate choice. The card earns 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 – it’s that simple.
You’ll also find an APR offer detailed in the table above. If your business has upcoming large purchases, the repayment can be spread out over time without incurring high-interest charges.
Having a Chase business card that earns valuable Chase Ultimate Rewards points is a smart move. Points can be easily redeemed for cash-back or transferred to premium Chase credit cards like the Ink Business Preferred® Credit Card and redeemed for travel for 25% more in value.
If your business involves travel and you’d like a travel rewards card without an annual fee, the Ink Business Cash card is worthy of consideration considering the benefits that come with the card.
Alternative Premium Travel Rewards Cards
A premium travel rewards card earns flexible rewards that can be redeemed for travel, has travel-related benefits, and normally includes other cost-saving features. These features can include perks such as statement credits, complimentary elite status, or even cell phone coverage.
Here’s a look at 2 alternative premium travel rewards cards we recommend:
Why We Like the Card
- Earn 5x points on flights and prepaid hotels on amextravel.com
- Worldwide lounge access to over 1,200 airport lounges
- Up to $200 statement credit for airline incidental purchases each year
- 35% airline bonus rebate when using Pay-With-Points for flights on your pre-selected airline book through Amex Travel (up to 1,000,000 bonus points per year)
- 1.5x points on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else (up to $2 million in purchases per calendar year)
- Hilton Honors and Marriott Bonvoy Gold hotel elite status upon enrollment
You’ll also find travel-related benefits such as secondary car rental insurance, baggage insurance, and trip cancellation/interruption insurance. Be sure to note that terms apply and enrollment may be required so explore your American Express account to ensure you’re getting the most out of your Amex Business Platinum benefits.
For more information on the best American Express business credit cards, access our list of recommendations.
Why We Like the Card
- A welcome bonus worth $1,000 in travel
- Earn 3x points on travel purchases
- Earn 3x points on common business categories such as shipping, advertising with social media/search engines, internet, cable, and phone
- Transfer points to hotel and airline partners or redeem for travel at 1.25 cents per point
- Cell phone coverage (terms apply)
- Lower annual fee
Additionally, you’ll find a long list of travel-related benefits such as primary car rental insurance, trip cancellation, interruption, and delay coverage, roadside dispatch, and baggage insurance.
To learn more about Chase business credit cards, check out our overview of the top 3 Chase business cards.
Bottom Line: The best business credit card for your business will be the one that rewards your highest expenses, has redemption options that fit your goals, and offers benefits that your business can use. In many cases, you may need more than 1 business credit card.
Both of Citi’s business credit cards require excellent credit to be approved. With excellent credit, you’ll have your choice of some of the best available business travel rewards cards.
However, if your largest business expenses are Costco purchases or you value American Airlines perks and miles, one of the Citi business cards could certainly add value to your business.
The information regarding the CitiBusiness® / AAdvantage® Platinum Select® Mastercard® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For the rates and fees of the American Express Blue Business Cash™ Card, click here.
For the rates and fees of The Business Platinum Card® from American Express, click here.
Featured Image Credit:
Free-Photos via Pixabay