If you run a business, you spend money every day. Gas, office supplies, travel, and ads are just a few of the costs. What if you could earn cash back on those regular expenses? That’s where top cash back business credit cards come in. These cards give you a percentage of your spending back. It could be 1%, 2%, or even more. The best part is that the rewards add up fast if you pick the right card for your business.
You don’t need to be a big company to use one. Freelancers, startups, small shops, and online sellers can all benefit. These cards also help with tracking expenses and building credit. In this guide, we’ll show you the top cash-back business credit cards in 2024. We’ll break down what each card offers. Then, we’ll help you decide which one fits your needs best.
What Are Cash Back Business Credit Cards?
Cash back business credit cards give you money back when you spend. Each time you make a purchase, you earn a small percentage as cash. The rates vary. Some cards offer flat rates on everything. Others give more cash back in specific categories like gas, travel, or advertising.
These cards are made for businesses. They often have higher limits than personal cards. They also come with tools to track spending and manage employee cards. You can redeem the cash back in many ways. Most issuers let you get it as a check, direct deposit, or account credit.
Top 6 Best Cash Back Business Credit Cards in 2024
Here are six top choices for 2024. These cards offer strong rewards, low fees, and features that match real business needs.
1. Chase Ink Business Preferred® Credit Card
This card works well for businesses that travel or spend on shipping and ads. You earn 3X points on those categories. There’s a cap of $150,000 per year.
There’s a $95 annual fee. But the sign-up bonus makes it worth it. You can earn 90,000 points after spending $8,000 in the first three months. Points can be used for travel or through Chase’s portal. If you use the portal, they’re worth 25% more. It also gives trip insurance. Plus, you can add free employee cards.
2. American Express Business Gold Card
This card lets you choose two high-reward categories each month. You get 4X points in those areas. The annual fee is $155. But you can get up to $750 back in statement credits over the first year based on how much you spend.
You don’t get a preset spending limit. Your spending power changes based on your history and payment habits. It’s good for businesses that change their spending from month to month. For example, marketing agencies might switch between Google Ads and software costs.
3. Capital One Spark Cash Select for Business
This card earns 2% cash back on every purchase. No caps. No categories. Just simple rewards. There is no annual fee. This makes it easy to use for small businesses or side hustles You can redeem the cash back automatically. It goes into your bank account or lowers your bill. It also has no foreign transaction fees. Great for companies that buy from international suppliers.
4. Discover it® Business Card
This card gives 5% cash back in rotating categories. You must activate them each quarter. The bonus applies to the first $50,000 spent each year. There’s no annual fee. And Discover matches all the cash back you earn at the end of the first year. You get 0% APR for 14 months. That helps if you want to spread out payments without interest. It’s perfect for new businesses still building credit or trying to keep costs low.
5. Bilt Business Mastercard®
This card is built for landlords and property managers. It gives 3% cash back on rent payments made by tenants. You also get 1.5% on utility and telecom bills. Like cell phone lines or internet service. There’s no annual fee. It links with major property management platforms like Rent Manager. Landlords love this because renters rarely pay with cards. Bilt helps them earn rewards on passive income.
6. Blue Business Plus Credit Card from American Express
This card gives 2X points on the first $50,000 spent each year. After that, it drops to 1X. The card has no annual fee for the first year. Then it costs $95 after that. It’s great for everyday business spending. Points can be used for travel, gift cards, or cash back. Amex also offers deals and discounts. These can give extra savings beyond the base rewards.
How to Pick the Right Card for Your Business
Choosing the best cash back business credit card isn’t hard. Just ask yourself these questions. What do you spend the most on each month? Office supplies? Gas? Online ads? Do you want a card with an annual fee or not? Some premium cards have high fees but better perks.
Do you need a sign-up bonus? If yes, look for cards that give bonuses after meeting a spending goal. Also think about how easy it is to redeem the cash back. Some systems are easier than others. Some cards offer extra features. Employee cards, fraud alerts, or expense reports can be helpful. Your credit score matters too. Most of these cards require good to excellent credit. Take your time. Match your needs with the right card. That way, you earn the most value.
How to Make the Most of Your Business Credit Card
Once you have a card, there are smart things you can do to earn more. Use the card for most of your business purchases. Pay it off each month. Don’t carry a balance. If your card has rotating categories, remember to activate them. Otherwise, you won’t earn the full rate. Try to hit the sign-up bonus. It’s free money. Just meet the spending target in the first few months. Track your expenses. Many cards have apps or dashboards that help you see where you’re spending.
If you have multiple business owners or employees, consider adding cards to the account. Set spending limits to avoid misuse. Finally, keep your business and personal spending separate. It makes taxes easier and keeps records clean.
Common Mistakes to Avoid
Even the best cards can hurt if you use them wrong. Here are common mistakes to avoid. Don’t mix personal and business spending. It muddles your finances and makes taxes harder. Don’t miss payments. Late fees hurt your credit and cost money. Don’t ignore the terms. Some cards cap your rewards or charge fees for certain types of transactions.
Never carry a balance unless you have a 0% APR deal. The interest cancels out any cash back you earned. Don’t apply for too many cards at once. Too many applications can lower your credit score. And finally, always check your monthly statement. Look for errors or fraud. Even small charges matter.
Business vs. Personal Credit Cards: Know the Difference
You might wonder why not just use a personal card for work. Here’s why business cards are better. First, they help separate your business and personal spending. That makes bookkeeping easier. Second, business cards often have higher limits. They are built for larger expenses.
Third, they offer tools like employee cards, expense reports, and tax summaries. They also help build your business credit. That can help you qualify for loans later. Personal cards may lack these features. Plus, using a personal card for business can blur legal lines. So, while you can use a personal card, a business card is usually the smarter choice.
Comparison Table: Top Cash Back Business Credit Cards
Frequently Asked Questions (FAQ)
Q: Which cash back card is best for small businesses?
A: The Discover it® Business Card is a top pick. It gives 5% cash back in rotating categories and has no annual fee.
Q: Do business credit cards affect personal credit?
A: Yes. Most cards report to personal credit bureaus. Your activity can help or hurt your personal score.
Q: Can I get a business card with bad credit?
A: Most cards need good credit. But secured options like the Capital One Spark Secured for Business can help you build credit.
Q: How do I redeem my cash back?
A: Most cards let you get your rewards as checks, direct deposits, or statement credits. Check your issuer’s app or website.
Q: Should I get a card with an annual fee?
A: Only if the benefits outweigh the cost. For example, if you travel often, a fee-based card might save you more in the long run.
Q: Can I add employees to my business credit card?
A: Yes. Most cards allow free employee cards. You can set spending limits and monitor usage.
