Business Credit Card Benefits and Advantages
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- If you own a business or do any freelancing or side gigs, there are plenty of reasons to get a business credit card instead of a personal one.
- When searching for the right business credit card, look at factors like welcome bonuses, earning categories, and purchase protection.
- Read Insider’s guide to the best rewards business cards.
The best business credit cards offer a lot of benefits both in common with personal credit cards and in addition to them. Like personal rewards credit cards, many business credit cards promote attractive welcome bonus offers, extend purchase protection and travel insurance, and in the case of airline credit cards and hotel credit cards, come with day-of-travel perks like free checked bags and anniversary award nights.
Even without your own formal small business, you might still qualify for a small business credit card — and you might want to do so for a number of reasons. Using a business credit card can help you keep your personal and work expenses separate. That, in turn, can even help improve your personal credit score over time.
Business Credit Card Benefits and Advantages
There are currently a lot of great business rewards cards available, so if you’ve been thinking about applying for one, now might just be the right time. Before you do, though, here are five benefits you should look for in any business credit card you apply for.
A high welcome bonus offer
One of the best reasons to apply for a business credit card is that they often offer introductory bonuses that are as good as, or even better than, their personal counterparts.
For example, the
On the other hand, the
The
Also with a
Bonus earning categories
Like personal rewards credit cards, many business credit cards earn bonus points on particular purchase categories. No matter which business credit card you apply for, you should make sure it earns bonus points or miles where you actually spend the most money. Some business cards even offer a certain amount of flexibility when it comes to maximizing your purchase activity.
For example, the
Since many small businesses tend to make large one-time purchases, some business credit cards also offer bonus points or miles on big buys, too. For example, the
Day-of-travel benefits
Many of the best travel cards — both business and personal — offer perks that make the travel experience itself that much better. These can include things like free checked bags and priority boarding, like many of the best airline credit cards do, or automatic elite status and free anniversary nights, like those offered by many of the best hotel credit cards.
For example, the
Aside from privileges with a particular airline or hotel chain, if you spend a lot of time passing through airports, you should consider a business credit card that comes with a statement credit of up to $100 to refund the application fee for Global Entry or TSA PreCheck, like the
You might also want a card that gets you into airline lounges, like
Travel coverage
If you’re a frequent traveler and use your business credit card for work trips, you need to think about whether it offers adequate coverage in case things go wrong while you’re on the road. Take a look at your card’s benefits and make sure it extends protection for things like trip interruption, cancellation, and delays, as well as lost luggage and primary rental car insurance.
One card that offers exceptional travel coverage is the
Purchase protection
Many small business owners need a business credit card specifically to make large purchases — such as for equipment or supplies — for work. If that’s your situation, it is imperative to use a credit card that offers sufficient purchase protection in case something goes wrong with the things you buy.
For example, Chase’s purchase protection on the
Certain American Express cards offer similar coverage, such as the
As a side note, some credit cards offer cell phone protection (usually subject to a deductible) against damage or theft, including the
What to know about business credit card benefits
There are plenty of great reasons to apply for a business credit card, and there are also some key benefits you should look for in any business credit card you are thinking of getting. Finding a product that will not only earn you thousands of bonus points or cash back through a welcome bonus offer and special earning categories, but that will also save you time and money through various travel and purchase protections, is the key to maximizing any business credit card you carry.