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 a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
- Purchase above your credit limit with no hassle and no over-limit fees
- $0 annual fee for the first year; $95 after that
- Free employee cards, which also earn unlimited 2% cash back on all purchases
- $0 Fraud Liability if your card is lost or stolen
|
Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
20.99% (Variable)
|
$0 intro for first year; $95 after that
|
Excellent, Good
|
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
|
Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% Intro APR on Purchases 12 months
|
N/A 12 months
|
13.24% - 19.24% Variable
|
$0
|
Good/Excellent
|
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions
- Earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months from account opening
- Save on interest with 0% intro APR on purchases for 9 months; 13.99% - 23.99% variable APR after that
- No annual fee
- Free employee cards, which also earn unlimited 1.5% cash back on all purchases
- Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
|
Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% for 9 months
|
N/A
|
13.99% - 23.99% (Variable)
|
$0
|
Excellent, Good
|
- Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening
- Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
- Transfer your miles to 15+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™
- Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
- Fly through security with one statement credit for either the $85 TSA Pre✔® application fee or the $100 Global Entry application fee
- $0 intro annual fee for the first year; $95 after that
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
20.99% (Variable)
|
$0 intro for first year; $95 after that
|
Excellent, Good
|
+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 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%.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
|
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
|
- One-time $200 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
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% for 15 months
|
N/A
|
15.49% - 25.49% (Variable)
|
$0
|
Excellent, Good
|
- For a limited time, get a special 0% introductory APR on purchases and balance transfers for 20 billing cycles, then a variable APR applies
- Enjoy Cell Phone Protection Coverage when you pay your monthly cellular bill with your U.S. Bank Visa® Platinum Card
- View your credit score anytime, anywhere in the mobile app or online banking. It's easy to enroll, easy to use, and free to U.S. Bank customers.
- Fraud Protections detects and notifies you of any unusual card activity to help prevent fraud
- Choose your payment due date
- $0 Annual fee
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% for 20 billing cycles
|
0% for 20 billing cycles
|
14.49% - 24.49% Variable
|
$0
|
Excellent Credit
|
- Earn a one-time $200 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
|
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 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%.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
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Credit Needed
|
|---|---|---|---|---|
0% Intro APR on Purchases 15 months
|
N/A
|
14.99% - 23.74% Variable
|
$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:
- One-time $200 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
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% for 15 months
|
N/A
|
15.49% - 25.49% (Variable)
|
$0
|
Excellent, Good
|
- INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Plus, earn unlimited 1% cash back on all other purchases - automatically.
- Redeem cash back in any amount, any time. Rewards never expire.
- Use your rewards at Amazon.com checkout.
- #1 Most Trusted Credit Card according to Investor’s Business Daily.
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
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|---|---|---|---|---|
0% for 14 months
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0% for 14 months
|
11.99% - 22.99% Variable APR
|
$0
|
Good/Excellent
|
- Earn a one-time $200 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
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% for 15 months
|
N/A
|
15.49% - 25.49% (Variable)
|
$0
|
Excellent, Good
|
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 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%.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
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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
|
+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 10,000 bonus points (a $100 value) when you spend $1,000 within 90 days of account opening
- Earn 3X points at restaurants and on food delivery, 3X points at supermarkets, 3X points on gas and transit, and 1X points on everything else
- No annual fee, no balance transfer fee, no foreign transaction fees, and no cash advance fees
- Points can be redeemed for cash, travel, gift cards, and merchandise
- Cardholders get roadside assistance plus up to 25% off car rentals with car rental loss & damage insurance included
- Must be a member of Navy Federal Credit Union to qualify
|
Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
9.65% to 18.00% (variable)
|
$0
|
Average to Good
|
- All credit types welcome to apply!
- Free access to your Vantage 3.0 score From TransUnion* (When you sign up for e-statements)
- Initial Credit Limit of $300 – $1,000* (subject to available credit)
- 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
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
See website for Details
|
N/A
|
24.99% – 29.99% (Variable)
|
See website for Details
|
Bad, Poor Credit
|
- Credit lines range from $500-$1,250 which double to $1,000-$2,500 after your account qualifies. No security deposit required.
- Double your credit line by making at least your minimum payment on time each month for the first 7 months your account is open.
- See if you are pre-approved within minutes, without affecting your credit score.
- Build or rebuild your credit. As you pay your bill every month, we report to all three major credit reporting agencies.
- Get 100% U.S.-based customer service & get your FICO® Credit Score for free each month.
- Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with Auto Pay and account alerts.
|
Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
23.45% - 28.45% Variable
|
$0-$72
|
See website for Details*
|
+ 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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CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation from many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across the site (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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