Best Small Business Startup Credit Card – Travel credit cards are often touted as the best credit cards for businesses – regardless of size. When every transaction seems to give you cash back, travel rewards or access to preferred airport lounges, we understand why you’re considering a travel card.
But with all the travel credit cards out there, it can be difficult to decide which business travel credit card is best for your business. Looking for airline miles rewards? No welcome offers or foreign transaction fees? What about low annual payments?
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In this article, we’ll look at the best small and large business credit cards for travel and what to look for in a business card. Plus, we’ll reveal the pitfalls of custom travel business cards and how your business can streamline travel expenses.
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A business travel credit card is a card designed specifically for teams that travel frequently. These cards work the same as traditional business credit cards. While standard business credit cards offer rewards like cash back or redeemable points, a travel credit card offers travel-specific benefits. These credit cards may offer travel benefits such as:
At first glance, you might wonder if keeping your personal business credit card is a good idea for now. However, there are key differences between business and personal travel credit cards that can help you grow your business. Business Travel Credit Card:
Choosing the right business credit card for travel depends entirely on the needs of your business and your employees. If you’re a frequent traveler, you’re probably looking for card offers that complement your business trips (as opposed to a generic rewards program).
Unfortunately, more benefits often equal higher fees. To choose the best card, think seriously about what is most important to you.
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Many cards that offer business travel benefits often come with hefty annual fees. The annual fee you pay will vary depending on the travel benefits and rewards that come with the card.
Most business travel credit cards entice you with a welcome offer after opening the card. For example, you can earn 100,000 bonus points after spending $10,000 on purchases within the first three months of opening your account.
Pay special attention to the APRs offered by business credit cards. If you don’t pay off your credit card in full each month, that interest can add up quickly. The more you owe, the harder it is to pay off the balance.
Business travel cards offer different reward rates based on your purchases. For example, you can earn 5,000 points per dollar when you book through their flight portal, but only 1,000 points for all other purchases.
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Since these cards are used for travel, you want a card with no foreign transaction fees. If your card offers great exchange rates, but you have to pay transaction fees every time, it negates all the benefits you could be enjoying. Most business travel cards don’t come with transaction fees, but it’s good to double-check the fine print.
If you want to use a specific brand or airline for travel, you can explore co-brand options. For example, a card like the Delta SkyMiles Reserve Business American Express (discussed later) gives you rewards on a variety of airlines and hotels. You can access rewards from major airlines and any of their partners.
Where does most of your travel take you? No matter where you go, purchase protection can be your backup. It acts as a form of insurance for your purchases and covers things like plane tickets, hotels and rental cars. This can eliminate the need to purchase additional travel insurance.
See the advantages and benefits of the card you choose. For example, does your card come with airport lounge access? If your business is located near a smaller airport, your employees may spend more time changing flights at larger airports. They may benefit more from airport lounges than employees who live near a major airport and fly around the clock.
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These cards from major lenders can look enticing with their promises of travel rewards. But a closer look at them reveals a simple truth: all of these cards encourage you to spend a lot of money.
Even with all the money you put into these cards, you’ll never be able to take advantage of the benefits. And some cards don’t help in the control and expense department, although that’s important for any growing business that needs access to lines of credit.
Below, we’ve rounded up the five best travel credit cards for 2022. These cards are categorized so you can see which card is right for your situation (and what terms apply).
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Welcome to the future of travel. The world’s first open travel solution, it advanced traditional business travel by leveraging automation and detailed data.
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Visa corporate card is a corporate payment card. Unlike other older cards, this card has no annual fee or application fee, no minimum spending offers, or late fees. Instead, your recharge card is fully integrated with AI-driven financial automation software. With every transaction, you’ll see where your money is going and how you can better manage it.
Stop spending money aimlessly to earn credit card rewards. , you will get the information you need to make the right spending decisions.
Cost Control Capabilities: When you roll out cards across your company, you’ll quickly begin to see a full range of cost control features. These include:
First on the list, the American Express Business Platinum card seems like a good choice for international travel at first glance. With no spending limits, big rewards, and no foreign transaction fees, it has a lot to offer frequent travelers. However, the high annual fee and high APR after the first year can make small businesses struggle to keep up with payments.
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Welcome Offer: 120,000 Membership Points if you spend $15,000 on qualifying purchases in the first 3 months of card membership
Expense Control Options: The Business Platinum card comes with expense management to help businesses pay their bills.
Bonus Features: Purchases made with this American Express card are divided into two categories: Pay in Full and Pay Over Time:
A more budget option on this list, this travel credit card from Bank of America is a good choice with no annual fee. Early-stage companies value frugality. While it’s a cheaper option for smaller businesses, the limited potential for rewards from purchases can force you to spend more but use less.
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Welcome Offer: Earn 30,000 bonus points after making at least $3,000 in purchases within the first 90 days of account opening. You can use them for a $300 credit toward travel or dining-related purchases.
Small business owners who spend more time abroad than at home will find the Delta SkyMiles card appealing. Although there are many perks and bonuses available, they are limited to Delta airlines only. Not to mention limiting your employees to one airline. That, along with the hefty annual fee, might make you look elsewhere.
Welcome Offer: Earn 110,000 bonus miles after spending $6,000 on purchases with your new card within 3 months of your card membership.
If most of your travel is in the US, the Marriott Bonvoi Business Card may be right for your business. Anniversary benefits are good and premium rates are high. However, if you tend to travel internationally, the number of hotels available may be limited. With a lower annual fee than other Amex cards, this card has potential, but it still pales in comparison.
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Welcome Offer: Earn 75,000 bonus Marriott Bonvoi points when you use your new card to make $3,000 in purchases within the first three months of account opening.
The Chase Ink Business Preferred® credit card is known as the best option for sign-up bonuses. But is it worth it considering you have to spend $15,000 to get $1,000 back? Bonuses are just as nice as ongoing rewards — with options for cash back, gift cards, travel, or even points for Apple products. Carefully consider your options to see if your business can afford such a large upfront investment.
Welcome Offer: Earn 100,000 bonus points after spending $15,000 on purchases within the first 3 months of account opening. ($1,000 in cash or $1,250 in travel rewards when using Chase Ultimate Rewards purchase options.
The main difference between charge cards and standard credit cards is the payment method. Standard credit cards allow you to carry balances from month to month. Charge cards require paying off the balance in full each month.
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Because you pay off the balance in full each month, you avoid paying high interest rates. Unlike traditional credit cards, charge cards offer higher credit limits. This is because they base your business creditworthiness on cash flow instead of your personal credit score.
To determine which type
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