When it comes to business expenses, you might as well reap some rewards for the spending. Enter business credit cards tailored for travel. With so many options, let’s narrow down the best picks and how to optimize them for your jet-setting business needs.
The Best Credit Cards for Business Travel
Seeking a card with no annual fee and straightforward rewards? This one’s for you.
- Rewards: Earn 2 Membership Rewards points per dollar on everyday business expenses (up to $50,000 annually). Beyond that, it’s 1 point per dollar.
- Welcome Offer: No current welcome bonus.
- Annual Fee: None.
- Other Benefits: Easily earn rewards for travel with 1:1 transfers to select airline and hotel partners.
- Drawbacks: Lacks a substantial welcome bonus and some premium travel benefits.
Perfect for those who value hotel perks and attractive earning rates.
- Rewards: Get up to 4 points per dollar at Hyatt hotels, and various rewards on other categories.
- Welcome Offer: Earn 60,000 bonus points after spending $5,000 within the first 3 months.
- Annual Fee: $199.
- Other Benefits: Includes a $100 rebate on Hyatt purchases and a points-back incentive for high annual spending.
- Drawbacks: Limited Hyatt presence in some areas.
Great for those loyal to United and seeking airline benefits, despite a higher fee.
- Rewards: Up to 2 miles per dollar spent on United purchases.
- Welcome Offer: 50,000 bonus miles after a $5,000 spend within 3 months.
- Annual Fee: $450.
- Other Benefits: Comes with a United Club membership, Premier Access at the airport, space-available upgrades, and more.
- Drawbacks: High annual fee and may not be suitable for those away from United hubs.
An ideal choice for businesses wanting wide-ranging travel rewards without a hefty fee.
- Rewards: Up to 3 points per dollar in select categories, 1 point per dollar elsewhere.
- Welcome Offer: A generous 100,000 points after a spend of $8,000 within 3 months.
- Annual Fee: $95.
- Other Benefits: Enjoy valuable Chase Ultimate Reward points, trip cancellation/interruption coverage, and more.
Worth considering for those flying United, offering a balanced mix of benefits.
- Rewards: Up to 2 miles per dollar on several categories, 1 mile per dollar on others.
- Welcome Offer: 50,000 bonus miles after a $5,000 spend in 3 months.
- Annual Fee: Introductory $0 for the first year, then $99.
- Other Benefits: Features like United Club passes, checked bag benefits, and a flight credit with qualifying purchases.
A dynamic card that adjusts rewards based on your business’s monthly spending habits.
- Rewards: Up to 4 Membership Rewards® points per dollar on top spending categories, 1 point elsewhere.
- Welcome Offer: 70,000 Membership Rewards® points after a $10,000 spend within 3 months.
- Annual Fee: $295.
- Other Benefits: Flexible payment options, airfare bonuses when using points, and added insurance benefits.
How to Choose a Business Credit Card for Travel
- Decide on the rewards type: Airline miles? Hotel or flexible points? Tailor it to your goals.
- Assess your monthly business spending: This will help figure out if you can snag the tempting signup bonuses.
- Compare cardholder perks: Fancy airport lounges or annual travel credits? Choose a card that aligns with these perks.
- Evaluate reward flexibility: A versatile rewards program lets you transfer points or book directly, providing more freedom.
How to Get the Most out of Your Business Credit Card
- Use it frequently: More usage equals faster reward accumulation.
- Stay debt-free: Pay off the balance monthly to ensure rewards aren’t negated by interest.
- Empower your team: Employee cards can further boost reward points.
- Consider the annual fee: Weigh the cardholder benefits against the fee to judge its worth.
Benefits of Using Your Credit Card Abroad
For the international business traveler, here’s why credit cards are the way to go:
- Convenience: Easier than cash, especially for hefty expenses.
- Fraud Protection: EMV chip cards offer added security, and many banks provide solid fraud protection measures.
- Reward Points: Every spend can inch you closer to your next vacation.
- Better Exchange Rates: Often, you get more favorable rates than ATMs or currency stands.
- Insurance Coverage: Some cards offer insurance on purchases, covering travel delays and even lost luggage.
Business credit cards for travel not only streamline expenses but also offer a plethora of perks. Whether it’s lounging at an airport, grabbing a hotel upgrade, or just collecting points for your next holiday – choose wisely and make every business trip count!
1. What should you not put on a business credit card?
Even if earning rewards is tempting, certain expenses should never be charged to your business credit card due to high-interest rates and other complications:
- Mortgage or rent: Don’t charge personal rent or mortgage. Even business-related costs in this category can be problematic.
- Payroll: It’s a significant expense, but credit card companies usually prohibit such payments. Always prefer liquid cash.
- Personal travel: Always separate personal and business expenses to avoid complications.
- High-risk investments: Avoid using cards for stocks. Most brokerage firms don’t accept credit cards anyway.
- Personal medical: Personal medical bills shouldn’t be charged to a business credit card.
2. What is the disadvantage of business credit?
Before diving into business credit cards, be aware of potential pitfalls:
- More Expensive: Business credit cards tend to have higher interest rates. Late payments can quickly accrue debt.
- Personal Legal Liability: Missed payments can negatively impact your personal credit score. Plus, higher interest rates might apply.
- Security Issues: Protect card details from theft. Ensure authorized users handle cards responsibly.
3. What is the best information to put on a business card?
Your business card acts as a first impression, so it should reflect your brand positively and offer essential information. Here’s what to include:
- Logo: An emblem or symbol representing your brand.
- Company name: Clearly mention your brand or business name.
- Tagline: A catchy phrase representing your business ethos.
- Your details: Include your name & title.
- Contact information: Email, phone number, etc.
- Address: Your business’s physical or online address.
- Social media handles: Engage with a wider audience.
- QR code: Instant access to your website or offers.