Using business credit cards to finance a small- to medium-sized enterprise can be a great idea for someone who understands how to do it properly and meets these criteria:
- doesn’t need more than $50,000
- cannot secure a traditional business loan
- doesn’t have the necessary collateral for an SBA loan
- wants to take advantage of the rewards a credit card can offer
There are many advantages to using a credit card over a bank loan. There are risks as well. But any way a large sum of money is borrowed has its own pros and cons. Depending on your situation, business and personal goals, and qualifications, a business credit card may be a good funding option for you. We’ve identified 19 credit cards that are suitable for any entrepreneur looking to get a card to finance their business. Read on for some of our top picks for credit cards for financing an existing business, business credit card alternatives, cash-back credit cards, and cards for fair credit — or use the links below to jump ahead to the category you’re interested in.
Credit Cards for Financing an Existing Business | Credit Cards if Denied Business Credit | Cash-Back Credit Cards | Credit Cards for Fair Credit
4 Credit Cards for Financing an Existing Business
These credit cards are best suited for entrepreneurs who already have their businesses up and running and have excellent credit history. These cards offer higher credit limits than personal credit cards, cash back on purchases, generous sign-up bonuses, and other perks especially beneficial to business owners:
- no foreign transaction fees
- no annual fee
- quarterly and year-end summaries
- employee cards at no additional cost
Here are four of the top expert-reviewed business credit cards currently available to help finance your existing business:
- Earn 4X Membership Rewards® points on the 2 categories where your business spends the most each billing cycle, including airfare purchased directly from airlines, U.S. purchases for advertising in select media (online, TV, radio), U.S. purchases made directly from select technology providers of computer hardware, software, and cloud solutions, and U.S. purchases at gas stations, restaurants, or for shipping.
- Earn 1X Membership Rewards® points on other purchases
- Earn 35,000 Membership Rewards points after you spend $5,000 on eligible purchases with the Business Gold Card within the first 3 months of card membership
- Book your flight with American Express Travel using Membership Rewards® Pay with Points and get 25% of those points back
- $295 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 14.24% - 22.24% | $295 | Excellent |
- New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $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 - with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
- Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
- No foreign transaction fees
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 15.99%-20.99% Variable | $95 | Good/Excellent |
- Earn $500 bonus cash back after you spend $3,000 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 card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR on Purchases 12 months | N/A | 13.24% - 19.24% Variable | $0 | Good/Excellent |
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, 1.5X points on each eligible purchase of $5,000 or more (that's an extra half point per dollar, up to 1 million additional points per calendar year, and 1X points for each dollar you spend on eligible purchases
- Earn 75,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of card membership
- Select one qualifying airline and get up to $200 in statement credits each calendar year for baggage fees and other incidentals charged by the airline to your Business Platinum Card
- Access to the American Express Global Lounge Collection, including 1,200 airport lounges across 130 countries and counting
- Use Membership Rewards® Pay with Points for all or part of an eligible fare and get 35% of those points back, up to 500,000 points back per calendar year
- $595 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | N/A (Charge Card) | $595 | Excellent |
+See more business credit cards
5 Consumer Credit Cards if You’re Denied Business Credit
Business credit cards generally require excellent credit because of the increased risk to the issuer that comes with such a high credit limit, making them harder to obtain. If your credit is less than excellent, all hope isn’t lost. A consumer credit card with top-notch benefits is a good option if you’re unable to secure a line of business credit.
Plenty of consumer cards possess many of the same benefits as a business card, like sign-up bonuses and no annual fees. One notable advantage of a consumer card over a business card is 0% intro APR offers. A 0% intro APR means the issuer is not charging interest on any of your purchases for a period of time, and some issuers offer interest-free purchasing for up to 18 months. This is essentially a free loan, which you won’t find at any bank.
Here are five of our favorite consumer cards with perks that rival those of a business credit card:
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- Earn unlimited 1.5% cash back on all other purchases.
- Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR on Purchases 15 months | N/A | 14.99% - 23.74% Variable | $0 | Good/Excellent |
- Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 15.49% - 25.49% variable APR after that
- No foreign transaction fee
- No annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 15 months | N/A | 15.49% - 25.49% (Variable) | $0 | Excellent, Good |
- One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 15.49%-25.49% variable APR after that
- Pay no annual fee or foreign transaction fees
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 15 months | N/A | 15.49% - 25.49% (Variable) | $0 | Excellent, Good |
- Introductory 0% APR for 18 months from account opening on purchases and balance transfers (3% balance transfer fee applies)
- Account protection features such as Zero Liability protection for promptly reported unauthorized transactions, alerts, and cell phone protection
- My Money Map – tools to help you manage spending and create a budget with ease
- Access to your FICO® Credit Score with Wells Fargo Online®
- $0 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 18 months | 0% for 18 months | 16.49% - 24.49% | $0 | Good |
- Unlimited 1.5% cash back on every purchase
- Earn $150 back after you spend $1,000 in purchases on your new card in your first 3 months. You will receive the $150 back in the form of a statement credit.
- 0% intro APR on purchases for 15 months from the date of account opening, then a variable APR
- Rental car loss and damage insurance when you use your eligible card to reserve and pay for the entire rental and decline the collision waiver at the rental company counter
- $0 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 15 months | N/A | 13.99% - 23.99% | $0 | Good/Excellent |
+ See more consumer credit cards
4 Cash-Back Credit Cards to Maximize Business Funding
If you really want to maximize your business funding, earn cash back for what you’re spending. These types of cards are best for business owners who pay their credit card statements in full each month. Apply for a card with high cash-back potential like the Chase Freedom Flex℠, and every month you’ll earn a percentage of what you spent in the form of statement credit or rewards – the choice is yours.
Here are four consumer credit cards with generous cash-back offers:
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- Earn unlimited 1.5% cash back on all other purchases.
- Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR on Purchases 15 months | N/A | 14.99% - 23.74% Variable | $0 | Good/Excellent |
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR on Purchases 15 months | N/A | 14.99% - 23.74% Variable | $0 | Good/Excellent |
- Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% - 23.99%, based on your creditworthiness.
- Balance Transfers do not earn cash back.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | 0% for 18 months | 13.99% - 23.99% (variable) | $0 | Excellent/Good |
- Earn 6% cash back at U.S. supermarkets and on select U.S. streaming subscriptions
- Earn 3% cash back on transit, including gas, taxis/rideshare, parking, tolls, trains, buses, and more. All other purchases earn 1% cash back.
- Earn $300 back in the form of a statement credit after you spend $1,000 in purchases on your new card in your first 3 months of Card Membership
- 0% intro APR for 12 months from the date of account opening
- $95 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 12 months | N/A | 13.99% - 23.99% | $95 | Good/Excellent |
+See more cash-back credit cards
5 Credit Cards for Entrepreneurs with Fair Credit
So maybe your credit isn’t in the best shape and you’re not having much luck obtaining a business credit card or a top-tier consumer card. You still have options for financing your business with a credit card. These cards offer the opportunity to build your credit by paying your statement on time each month. In time, as your credit begins to improve, you can apply for a business credit card or one with better rewards.
Below are five of the best credit cards for fair credit that still offer benefits such as cash back and 0% intro APRs:
- Pay no annual fee
- Be automatically considered for a higher credit line in as little as 6 months
- Fraud coverage if your card is lost or stolen
- Use online banking to access your account, even from your smartphone, with our mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set.
- Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 26.99% (Variable) | $0 | Average, Fair, Limited |
- Earn unlimited 1.5% cash back on every purchase, every day
- Earn cash rewards without signing up for rotating categories
- Be automatically considered for a higher credit line in as little as 6 months
- Monitor your credit profile with the CreditWise® app, free for everyone
- $0 fraud liability if your card is ever lost or stolen
- No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 26.99% (Variable) | $39 | Average, Fair, Limited |
- Earn 1 Membership Rewards® point for every eligible dollar you spend
- You can get double Membership Rewards® points on every dollar of eligible travel purchases—such as prepaid hotel stays, vacation packages, and cruises—when you use your card to book your trip through AmexTravel.com
- Amex Offers rewards you at places you like to shop, dine, travel, and more. Simply log in to your account or use the American Express® App to add offers to your card. Then use that same card to pay and enjoy rewards directly on your statement.
- Plan It® is a payment option that lets you split up purchases of $100 or more into clear and simple monthly payments with a fixed fee and no interest
- $0 annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 23.99% | $0 | Fair/Good |
- All credit types welcome to apply!
- Free access to your Vantage 3.0 score From TransUnion* (When you sign up for e-statements)
- Monthly reporting to the three major credit bureaus
- See if you’re Pre-Qualified without impacting your credit score
- Fast and easy application process; results in seconds
- Free online account access 24/7
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
See website for Details | N/A | 25.90% - 29.99% | See website for Details | Bad, Poor Credit |
- Enjoy peace of mind with $0 Fraud Liability
- Qualified applicants will receive a card with a competitive APR and no annual fee along with 1% cash back rewards on all purchases, terms apply
- View updates to your Experian credit score with free online access, terms apply
- Make paying your bill easier with the ability to choose your payment due date, terms apply
- Access your account on-the-go with the Credit One Bank mobile app
- Never miss an account update with customizable text and email alerts
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 17.99% to 23.99% Variable | $0 - $99 | Fair |
+ See more credit cards for fair credit
Final Thoughts on Using a Credit Card to Finance a Business
If you need more than $50,000 to finance your business, a credit card isn’t your solution. You’re better off looking at bank and SBA loans that can lend you as much as $250,000. Credit cards are better suited for business owners with smaller purchasing needs.
And while a credit card may offer a lower interest rate than other loan types, especially with a 0% intro APR card, keep in mind that credit card rates can change at any time. With most business loans your rate is fixed. However, a credit card offers flexibility that a loan cannot: You only need to borrow from a credit card as needed, and your monthly payments will be lower.
No matter which card you choose, remember that if you pay your balance in full each month, you’ll avoid paying interest altogether. Other types of loans can’t offer that, and they certainly won’t offer you any rewards. If you borrow from your card wisely, it can definitely be a smart way to finance your business.
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