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:
- 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
- Chase is not an affiliate partner with CardRates and does not review editorial content on our site
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 $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
- Chase is not an affiliate partner with CardRates and does not review editorial content on our site
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 |
+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 $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn unlimited 1.5% cash back on all purchases.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
- No annual fee
- 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% 15 Months | N/A | 14.99%–23.74% Variable | $0 | Good/Excellent |
- Earn a $150 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!
- Unlimited 1% cash back on all other purchases - it's automatic
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99 - 23.74%.
- 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
- No annual fee
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR on Purchases 15 months | 0% Intro APR on Balance Transfers 15 months | 14.99% - 23.74% Variable | $0 | Good/Excellent |
- 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
- 2% cash back at grocery stores and wholesale clubs
- 1% cash back on all other purchases
- You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
- There's no annual fee and your cash rewards don't expire. Each month, as you plan for future purchases, you can change your 3% choice category online or through our mobile app.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR for 15 Billing Cycles | 0% Intro APR for 15 Billing Cycles (for balance transfers made in the first 60 days) | 13.99% - 23.99% (Variable) | $0 | Excellent/Good |
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, then 12.99% to 22.99% Variable APR
- $0 Intro Balance transfer fee during first 60 days of account opening. After that, the fee for future balance transfers is 3% (min. $10).
- No annual fee
- No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
- Access your FICO® Score for free within Online Banking or your Mobile Banking app
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR for 15 billing cycles | 0% Intro APR for 15 Billing Cycles (for balance transfers made in the first 60 days) | 12.99% to 22.99% (Variable) | $0 | Excellent/Good |
- The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
- Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com
- 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 13.49% - 23.49%, based on your creditworthiness. Balance transfer fee — either $5 or 3% of the amount of each transfer, whichever is greater.
- Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X Points on All Other Purchases.
- The standard variable APR for Citi Flex Plan is 13.49% - 23.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% for 15 months | 0% for 15 months | 13.49% - 23.49% (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, 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 $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn unlimited 1.5% cash back on all purchases.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
- No annual fee
- 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% 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 |
- 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
- 2% cash back at grocery stores and wholesale clubs
- 1% cash back on all other purchases
- You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
- There's no annual fee and your cash rewards don't expire. Each month, as you plan for future purchases, you can change your 3% choice category online or through our mobile app.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
0% Intro APR for 15 Billing Cycles | 0% Intro APR for 15 Billing Cycles (for balance transfers made in the first 60 days) | 13.99% - 23.99% (Variable) | $0 | Excellent/Good |
- 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
- Chase is not an affiliate partner with CardRates and does not review editorial content on our site
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 |
+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:
- 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 |
- Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply.
- Manage your account quickly and easily from your mobile device by using the Credit One Bank mobile app.
- Use your Apple device to make purchases securely through Apple Pay®. Apple Pay is a registered trademark of Apple, Inc.
- Your account is safeguarded against unauthorized charges with Zero Fraud Liability at no additional charge.
- Take advantage of free online access to your Experian credit score and credit report summary so you can track the key factors impacting your credit health. Terms apply.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 17.99% to 23.99% Variable | $0 - $99 | Fair |
- Prequalify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Protection from fraud if your card is stolen
- Account history is reported to the three major credit bureaus in the U.S.
- *Dependent on credit worthiness
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 24.9% | $35 - $99 | Bad, Poor Credit |
- Pre-qualify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Fraud protection for stolen or lost cards
- Account history is reported to the three major credit bureaus in the U.S.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 24.9% | $0 - $99 | Bad, Poor Credit |
+ 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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