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Applying for a small business credit card might sound intimidating, but it’s easier than you might think. You may qualify for a small business credit card and not realize it.
Many small business credit cards participate in the same points and miles rewards programs as personal credit cards. And all the points and miles you earn from your small business can be combined with your personal stash!
This guide explains what to expect if you apply for a small business credit card. It can be easy to qualify for a small business credit card that earns with some of our favorite rewards programs.
How To Qualify for a Small Business Credit Card
Qualifying for a small business credit card isn’t difficult and usually doesn’t require lots of paperwork. But the big question is, how can you qualify as a small business? Let’s review a few ways.
You Own a Legal Business
You can apply for a small business credit card if you already own a business. You must submit your Employer Identification Number (EIN) and your Social Security number. Your personal credit report will be used to determine approval for a new credit card, so you should have good credit.
You’re Starting a New Business
It’s essential to keep track of your finances, including keeping your personal and business expenses separate. Small business credit cards are a helpful tool for new businesses separating business and personal finances. Plus, the extra capital can help your new business grow. Most start-ups don’t last long, so banks may look at new business applications in more detail since they pose a higher risk.
You’re Already in Business (But Don’t Realize It)
Even if your business doesn’t have a legal structure, you may qualify as a business and be able to apply for a small business credit card. If you’re earning income from performing a service, working as an independent contractor, or selling goods for a profit, you’re operating a business. You don’t need to worry about creating a business plan or even thinking of a business name because you are a sole proprietor and can just use your name as the business name.
Common Small Businesses That Qualify
Image Credit: tirachard via Adobe Stock
A sole proprietorship is the easiest way for individuals to qualify as a small business. A sole proprietor is simply a person who owns a business and is responsible for its debts.
Sole proprietorship does not separate the business from the owner. Income and losses from the business are reported on the owner’s individual tax return. You’ll use your Social Security number for the application. An EIN is not necessary when applying as a sole proprietor.
Common side gigs that can qualify as a small business include:
For example, if you regularly or even occasionally sell goods for a profit, that’s considered a business. Or maybe you rent out your extra bedroom, vacation property, or even your house when you went away on vacation. Even selling goods at bake sales, farmer’s markets, and street fairs qualifies as operating a small business!
With a business credit card, you’ll be able to use your credit (and maybe even earn rewards!) for business expenses like materials, supplies, internet service, and gas.
Bottom Line: Operating or starting a small business that qualifies for a small business credit card isn’t as hard as it sounds. There are plenty of things you might already be doing that qualify you as a small business owner!
Why You Should Get a Small Business Credit Card
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Getting approved for a small business credit card comes with plenty of perks. Not only does it increase the financial flexibility of your small business, but it also helps keep your business expenses separate from your personal accounts.
Another major perk is that most small business credit cards do not appear on your personal credit report. Even though banks evaluate your personal credit when you apply for a small business credit card, it will not impact your credit score in the long term.
Small business credit cards do not count against your 5/24 status with Chase. You can apply and get approved for as many small business credit cards as you want without worrying about going over the limit of 5 new accounts in 24 months. That includes Chase’s small business credit cards.
Another bonus is that most small business credit cards have the same rewards programs that you can combine with your personal cards.
Want to increase your Chase Ultimate Reward balance? The Ink Business Cash® Credit Card, for example, will help you earn more Ultimate Reward points (if you have another Chase Ultimate Rewards card with an annual fee). Or you can keep things simple and collect valuable cash-back for your business with this card.
Hot Tip: American Express limits its welcome bonus for the same card once per lifetime. However, its small business credit cards are considered a different product from its similar personal card offerings.
One negative aspect of small business credit cards is they don’t come with the usual consumer protections that personal credit cards have. For example, small business credit cards can change their APR at any time, unlike personal credit cards.
How To Apply for a Small Business Credit Card
Image Credit: WavebreakmediaMicro via Adobe Stock
Filling out an application for a small business credit card is fairly easy. You will need to provide basic personal and business information.
Business Information
These are the questions you’ll find on most small business credit card applications:
Business Name — Your business name, or your name if you’re a sole proprietor.
Business Address — When operating an independent business, your home address would be your business address.
Type of Business or Company Structure — Here you will have the option to choose between a corporation, partnership, or sole proprietor.
Business Category — Here, you’ll select from a wide range of business categories such as manufacturing, retail trade, and transportation services. Be sure to select the options that best describe your business.
Federal Tax ID Number — If you’re applying as a sole proprietor, use your Social Security number. For businesses, your tax ID is your EIN. The format of your EIN is different (12-345678), but has the same number of numbers as a Social Security number.
Years in Business — You always want to be completely honest on credit card applications and it’s important to know how long you’ve been in business. If you’ve been selling things for a profit off and on for a few years, you’ve been in business for a few years.
Annual Business Revenue — Here, you’ll report the net profit your business makes annually. As a sole proprietor, you will figure out the total amount of sales minus any operating expenses. If your business only makes a small profit, don’t let that deter you from applying for a small business credit card. Many businesses don’t make a profit right away, so any net gain is positive.
Number of Employees — If you’re applying as a sole proprietor, you are the only employee. Other businesses can order additional cards for their employees, but all charges and fees associated with employee cards are the owner’s responsibility.
Personal Information
You’ll be required to provide your personal information for the bank to check your credit. Your credit score will be the determining factor for reviewing your creditworthiness for your small business application.
Social Security Number — If you’re applying as a sole proprietor and already provided this as your tax identification number, you will provide it again here. Other businesses will provide the owner’s Social Security number.
Total Annual Income — Your gross total annual income is all the income you earn annually, including regular wages and profits from your small business.
Authorizing Officer — You will be able to choose an authorizing officer for your account. If you’re applying as a sole proprietor, you’ll be the authorizing officer. Other options include president, partner, manager, and member.
Bottom Line: You don’t need a ton of paperwork to submit your small business application. You need some basic information about your business and your personal credit information to see if you’ll be approved!
Add Employee Cards
If you’re applying as a sole proprietor, this section won’t apply since you are the only employee of your business.
Businesses with employees have the option to add additional cards for employees in the application, but you can request them later. You will need to provide personal information about the employees, but sometimes, you will only need their first and last name.
Remember, the owner is entirely responsible for all charges made on employee cards.
If you’re not instantly approved, you might want to give it some time for the bank to review your application manually. Most banks will allow you to check your small business credit card application status online or by phone if you don’t feel like waiting for snail mail.
Be prepared for a phone call from the bank. They may ask you to call them, or they might call you unexpectedly.
Don’t worry; they probably want to get to know your business a little bit more, even if it’s just a side business you do for extra income. That’s completely normal.
Recommendations for Small Business Credit Cards
We’ve selected our favorite small business credit cards to help you upgrade your points and miles balance with your small business expenses.
Chase Small Business Credit Cards
Chase small business credit cards offer the opportunity to earn additional points with the flexible rewards program Ultimate Rewards. We love Ultimate Rewards for great travel rewards, but you can also use the points for cash-back.
These points can be transferred to your other personal Chase Ultimate Rewards cards and are extremely easy to use. Plus, the welcome bonuses alone can be worth hundreds of dollars in cash-back or travel, if not more!
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.
The Ink Business Cash® Credit Card has a lot going for it that makes it a compelling choice for small business owners. The card features a very lucrative 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year.
When you factor in that the card has no annual fee, and 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter, you could be adding big value back into your business for no cost out of pocket.
Pros
Earn 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year
Earn 2% back on up to $25,000 spent in combined purchases at gas stations and restaurants, and 1% back on all other purchases
Travel insurance and purchase protection
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
No annual fee
Cons
Spending caps in bonus categories
Low points earning outside of bonus categories
3% foreign transaction fees
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
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 purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
You can easily earn bonus points using the Ink Business Cash card for your business expenses since it comes with an amazing reward-earning structure.
You will earn 5% cash-back at office supply stores and internet, cable, and phone services on the first $25,000 spent per calendar year. You will also earn 5% cash-back on Lyft purchases (through March 2025) and 2% cash-back at gas stations and restaurants on the first $25,000 spent in a calendar year.
There is no limit when earning 1% cash-back on all other purchases. Your rewards will never expire as long as you keep your account open. You should check out the most valuable benefits of the Ink Business Cash card.
Hot Tip: While this card is advertised as a cash-back rewards card, you are actually earning Chase’s flexible rewards currency, Ultimate Rewards at a rate of 1 Ultimate Rewards point per 1% cash-back. If you have a premium Chase Ultimate Rewards card that carries an annual fee, then you have the option to use these points for travel instead of cash. This gives you more redemption options!
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash-back or $1,250 toward travel when redeemed through Chase Ultimate Rewards.
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
Pros
3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection
Trip cancellation and interruption insurance
Rental car insurance
Extended warranty coverage
Cons
No elite travel benefits like airport lounge access
Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
You will earn 3x points on the first $150,000 spent on the following categories each account anniversary (not calendar year):
Travel (airfare, hotel, car rentals, etc.)
Shipping purchases (FedEx, UPS, USPS, etc.)
Internet, cable, and phone services (Including cell phones)
Advertising purchases on social media sites and online search engines (Google, Facebook, etc.)
You will earn 5x points on Lyft purchases (through March 2025) and 1x points on all other purchases with no limit to the amount you can earn.
One of the many significant benefits of the Ink Business Preferred card is that points are worth 25% more when you redeem your travel through Chase Ultimate Rewards. You can also transfer your points 1:1 to a number of airline and hotel loyalty programs, which you can redeem for an even higher value.
Points can also be used for cash-back and other rewards, usually at a 1 point to 1% cash value ratio.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.
If so, the Ink Business Unlimited® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.
Don’t forget too, 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Pros
1.5% cash-back on all purchases
No annual fee
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
Earn flexible rewards
Cons
3% foreign transaction fee
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
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 purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
You will earn an unlimited amount of 1.5% cash-back on all purchases made for your business with the Ink Business Unlimited card. This is a fantastic card for spending on categories that don’t fall under the usual bonus-earning categories on other business cards.
Similar to the Ink Business Cash card, this card earns Chase Ultimate Rewards points at a value of 1 point for 1 cent cash-back.
Hot Tip: Have multiple Chase business credit cards? You can transfer your Ultimate Rewards from your cash-back earning cards to your other cards like the Ink Business Preferred card to get the extra 25% value when booking travel through Chase Ultimate Rewards.
American Express Small Business Credit Cards
Our favorite small business credit cards offered by American Express provide an incredible opportunity to earn additional points in the flexible Membership Rewards program, which includes quite a few travel benefits. You can link all of your Membership Rewards-earning cards into 1 Membership Rewards account, so all of your points are always in 1 place, whether for business or pleasure.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.
5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
Up to $200 annual airline fee credit on your selected qualifying airline
Statement credits on select purchases with your card
35% airline bonus when using Pay With Points (up to 1,000,000 bonus points per calendar year)
Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
Global Entry or TSA PreCheck application fee credit
Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)
Airline fee credit does not cover airfare, only incidentals like checked bags
Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
$200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
$189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
With the Amex Business Platinum card, you can get 35% of your points back every time you use your Membership Rewards to pay with points on your selected qualifying airline through Amex Travel. This benefit is limited to up to 500,000 bonus points back every calendar year.
The Amex Business Platinum Card comes with a hefty annual fee (rates and fees), but you can easily offset this with the Amex Platinum Business offer and all the great benefits it provides.
The Blue Business® Plus Credit Card from American Express
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
Earn Membership Rewards for your business spending the easy way: get 2x points for the first $50,000 in purchases per year.
Earn Membership Rewards for your business spending the easy way: get 2x points for the first $50,000 in purchases per year.
N/A
N/A
$0
$0
0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APRs will not exceed 29.99%
With the Amex Blue Business Plus card, you’ll earn 2x Membership Rewards points on everyday business purchases throughout the year (up to $50,000; 1x thereafter) and receive purchase protections and no-additional-charge employee cards all for no annual fee (see rates and fees).
The simple and straightforward earning structure makes it a great fit for those looking to earn flexible rewards, without having to fixate on which purchases earn the most points.
Let’s take look at all that the Amex Blue Business Plus card has to offer.
Pros
2x Membership Rewards points per $1 on everyday business purchases (up to $50,000; 1x thereafter)
Purchase protection and extended warranty protection
No annual fee and employee cards at no additional cost
Cons
No unique bonus categories and 2x earnings are capped at $50,000 in annual spend
No elite travel benefits like lounge access or elite status
Charges foreign transaction fees
0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% – 26.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
*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.
No Annual Fee
Terms Apply
Financial Snapshot
APR: 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APRs will not exceed 29.99%
Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.
The ability to earn 2x points on any transaction is pretty amazing, especially since it can increase your capital quickly with the introductory APR offer (see table above for details).
You’ll also receive purchase protections and no-additional-charge employee cards, all for no annual fee (rates and fees).
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
Get 4x points in 2 select categories where your business spends the most each month (on your first $150,000 spent each year).
Get 4x points in 2 select categories where your business spends the most each month (on your first $150,000 spent each year).
Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership
The card earns a whopping 4x points per $1 in the 2 categories (from a list of 6) that your business spends the most money on each month. With no need to opt-in or preselect your categories, so you can focus on what matters most — running your business.
No elite travel benefits like airport lounge access or elite status
Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases.**
**4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.*
PAY OVER TIME OPTION: Decide whether you want to pay eligible purchases in full each month—or pay over time with interest.*
If you’re thinking about the Amex Business Platinum card but are hesitant because of the annual fee or the high spending needed to earn the annual fee, the Amex Business Gold card would be the next best option.
You will earn bonus points when spending on select categories on the first $150,000 in purchases per year. You can earn 4x Membership Rewards points on the 2 select categories where your business spent the most each month.
The categories are:
Airfare purchased from airlines
U.S. purchases for advertising in select media
U.S. purchases made from select technology providers of computer hardware, software, and cloud solutions
Bottom Line: There are plenty of fantastic small business cards to choose from. Our favorites revolve around points and miles. Be sure to understand the fees, protections, and other benefits before submitting your application.
Final Thoughts
Small business credit card applications are pretty straightforward and aren’t much different from personal credit card applications. It’s important for you to be prepared to answer additional questions the bank may have about your business before you apply.
Getting a small business credit card is a great way to earn extra points and miles for your next big trip! With the incredible sign-up bonuses and bonus earning categories, there is no question that you should significantly consider getting a credit card for your small business.
For the purchase protection benefit of The Blue Business® Plus Credit Card from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
Looking to put this plan into action? Pin it on Pinterest to review it later.
For rates and fees of The Business Platinum Card® from American Express, click here. For rates and fees of The Blue Business® Plus Credit Card from American Express, click here. For rates and fees of the American Express® Business Gold Card, click here.
Featured Image Credit: Drazen Zigic via Freepik
Frequently Asked Questions
We’ve found the best small business credit cards are the ones that come with flexible rewards programs, especially from Chase and American Express. These rewards credit cards can be combined with your personal credit card rewards in the same programs.
Need access to your new small business credit card in a hurry? American Express will instantly provide your new card number if you’re approved right away.
Small business credit cards will be reviewed based on your personal creditworthiness, especially if applying as a sole proprietor. Therefore, it’s important that you check your credit score.
Other businesses will need to incorporate and obtain an EIN from the IRS. Then you can open a small business checking account and apply for one of our favorite small business credit cards.
Many small business credit cards offer excellent introductory APR rates for both purchases and balance transfers. Introductory rates offer a great opportunity to get access to additional funds for your small business while earning travel rewards.
You’ll need a tax ID number, or you can use your Social Security number if you’re applying as a sole proprietor.
Your EIN can be used to apply for a small business credit card. If you don’t have an EIN, but operate a business as a sole proprietor, all you need to do is input your Social Security number when asked you for your tax ID.
The 5/24 rule only applies to credit cards offered by Chase Bank. For credit cards that fall under the rule, it’s almost impossible to be approved for a new credit card if you’ve opened 5 or more credit cards in the past 24 months.
Small business credit cards don’t impact or increase your 5/24 status.
Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business, The New York Times, and more.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.
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