If you want to use a business credit card to manage expenses and earn rewards, you might be wondering if all business credit cards charge an annual fee.
The answer is no, not all business credit cards charge an annual fee, but it is important to know that many credit cards with fees offer extra benefits and rewards that can make up for the cost.
When choosing a business credit card, you need to consider the costs and benefits carefully. To help you find the best cards for your business, I will analyze three different business credit cards that I recommend: one with no annual fee, one with a $0 annual fee for the first year, and one with a high fee but lots of benefits.
Best Business Credit Card with No Annual Fee
Ink Business Unlimited® Credit Card
With Ink Business Unlimited® Credit Card, you earn 1.5% cash back on all purchases, with no annual fee. It’s a great card for business owners who prefer cash back to points, and want a straightforward rewards program that’s easy to understand.
One of the most impressive benefits of this card is that there’s no limit to the amount of cash back you can earn. You don’t have to worry about hitting a cap on rewards – every purchase you make earns you cash back at the same 1.5% rate.
This makes it an excellent card for businesses with high expenses, as you can earn a significant amount of cash back over time.
Additionally, the Chase Ink Business Unlimited card offers a great sign-up bonus cash back after you spend $6,000 on purchases in the first three months from account opening. This is a fantastic offer for new cardholders, and it’s one of the higher sign-up bonuses available for a cash-back card.
Another perk of the Chase Ink Business Unlimited card is that it includes travel and purchase protection benefits. This includes trip cancellation/interruption insurance, primary car rental insurance, and purchase protection against damage or theft.
Key Features of Ink Business Unlimited Credit Card
Best Business Credit Card with Introductory No Annual Fee
Capital One Spark Miles for Business
If you’re a business owner who travels frequently, the The Capital One Spark Miles credit card is worth considering. While this card has an annual fee of $95, it’s waived for the first year. Additionally, the rewards program can offset the cost of the annual fee.
With the Capital One Spark Miles for Business card, you can earn unlimited 2x miles per dollar on every purchase and 5x on hotels and rental cars booked through portal.
There’s no minimum spending requirement or cap on the miles you can earn, making it easy to rack up rewards quickly. You can redeem your miles for travel expenses, such as flights, hotels, and car rentals, or for cash back.
You can redeem your miles for both travel and cash rewards. For travel, you can use your miles to book flights, hotels, rental cars, and more through the Capital One travel portal, or transfer them to any of the 15+ travel partners the card has relationships with.
Another benefit of this card is that it comes with additional travel perks. You’ll receive a Global Entry or TSA PreCheck credit, which can save you time and hassle at the airport. You’ll also have access to 24-hour travel assistance services, travel accident insurance, and lost luggage reimbursement.
Last but not least, you can get free additional warranty and protection on eligible items that you purchase with your card.
Best Business Credit Card with Annual Fees that Pays for Itself
The Platinum Card® from American Express Business
Although American Express Business Platinum Credit Card comes with $695 annual fee, it includes benefits that not only pays for itself, but also offers more value that can be worth thousands of dollars.
With this credit card, you earn 5x membership rewards points on flights and prepaid hotels booked through the American Express Travel portal, and 1.5x points on eligible purchases.
Additionally, this card provides a long list of premium travel benefits, including access to over 1,400 airport lounges worldwide, featuring the Centurion Network of Lounges and Studios, Airspace, Priority Pass Select, Escape Lounges–The Centurion® Studio Partner, Plaza Premium, Delta Sky Club when flying Delta, and select Lufthansa Lounges when flying Lufthansa Group.
You can also select one qualifying airline and receive a $200 annual airline fee credit to cover incidental airline costs such as baggage fees and in-flight meals.
Other notable benefits for Business Platinum cardholders are complimentary Fine Hotels and Resorts membership that delivers exclusive perks such as free room upgrade, resort credits, free breakfast, late check out, and more.
Key Features for The Platinum Card® from American Express Business
Wrap Up: Do all business credit cards charge an annual fee?
There are many credit cards available in the market that do not charge an annual fee, and one of the best options available is the Chase Ink Business Unlimited card.
This card offers 0% APR for the first 12 months and no annual fee. It’s an excellent choice for small businesses that want a simple cashback rewards program without any extra bells and whistles.
While no annual fee business credit cards like the Chase Ink Business Unlimited card may be a great option for some business owners, other cards with an annual fee may provide more benefits and rewards, making the fee worth the cost.
One such card is the The Capital One Spark Miles, which offers a waived fee for the first year. It has a good program where you can redeem your miles for both cash and travel rewards. Other great perks of this card include travel protection and extended warranty on eligible products you purchase with this card.
Another card worth considering is the American Express Business Platinum Credit Card. This card comes with a steep annual fee, but the benefits may be worth it for some business owners who travels frequently.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
