Considering a business credit card for travel? It may be the right choice if your expenses frequently involve airfare, lodging, and rental cars. Travel rewards-focused cards can offer significant benefits for small business owners.
What is a Business Travel Credit Card?
As a small business owner, it’s crucial to keep personal and business expenses separate. A business credit card is specifically for business expenditures, and a travel card is designed for those who often incur travel-related costs, allowing you to earn rewards points for every dollar spent on eligible transactions.
Reasons to Get a Business Credit Card for Travel
Here are several compelling reasons to consider a business credit card for travel:
- Earn Rewards and Bonuses: Benefit from rewards on eligible purchases.
- Discounts on Travel: Receive exclusive discounts related to travel expenses.
- Insurance Coverage: Enjoy insurance on rental car purchases.
- Purchase Protection: Keep your travel-related expenses protected.
- Gas Discounts: Opt for cards that provide discounts on gas for businesses with driving needs.
How to Select the Best Business Credit Cards for Travel
When choosing a business credit card for travel, consider these factors:
- Foreign Transaction Fees: Look out for fees that can add up, typically ranging from 1% to 5% on international purchases.
- Rewards Structure: Accumulate meaningful rewards points, which can be redeemed for discounts on future purchases or credit card bills.
- Purchase Protection: This acts as insurance against various purchases, offering coverage on travel-related expenses.
- Fees: Some cards come with no annual fees, while others may have them offset by rewards or discounts.
- Gas Rewards: If your business requires extensive travel, select a card that offers cashback on gas purchases.
Top 8 Business Travel Credit Cards
Here’s a rundown of the top business credit cards tailored for travel:
1. Chase Ultimate Rewards Freedom Unlimited
APR: 15.24-23.99 variable
Annual Fee: $0
Earn 5% cash back on travel expenses and an additional 3% on dining. With no foreign transaction fees, this card is a solid option for business owners.
2. American Express Business Platinum Card
APR: 14.99-22.99
Annual Fee: $0
Earn 5X points on flights and prepaid hotel purchases, plus exclusive credits for business expenses.
3. Hilton Honors Business Card
APR: 16.49-25.49
Annual Fee: $95
Earn up to 12X points at Hilton hotels and significant bonus points with qualifying purchases.
4. American Express Business Gold Card
APR: 14.99 – 22.99
Annual Fee: $295
This card offers high rewards where your business spends the most, including the ability to redeem points on airfare purchases.
5. Bank of America Business Advantage Travel Rewards World Mastercard
APR: 12.49 – 22.49
Annual Fee: $0
Activate this card to earn significant bonus points and cashback on travel purchases.
6. Discover IT
APR: 12.24 – 23.24
Annual Fee: $0
Earn cashback on gas and dining, with additional rewards annually as part of the Discover Cash Back Match program.
7. Southwest Rapid Rewards Performance Business Credit Card
APR: 16.24 – 23.24
Annual Fee: $69
Earn points on Southwest purchases and benefit from additional points for qualifying expenses.
8. Delta SkyMiles Reserve Business
APR: 16.49 – 25.49
Annual Fee: $550
Get a significant number of bonus miles and earn multiple miles on eligible Delta purchases.
How to Apply for a Business Travel Credit Card
Applying is straightforward:
- Research the card options that fit your needs and features.
- Complete the application with your income details for credit assessment.
- Your creditworthiness will determine the APR rate you receive.
- Look for special sign-up bonuses upon account opening.
- Activate your card once received.
What is the Best Credit Card for Business Travel?
Business travelers have unique needs, making flexibility like that of the Chase Freedom Unlimited ideal due to its high cashback rates for travel and gas expenses.
Explore various card descriptions to find the best fit for your business situation, taking travel logistics into account.
Can You Use Business Credit Card Points for Personal Travel?
While possible, using business credit card points for personal travel reduces the credit availability for business-related expenses.
Do Corporate Travel Cards Affect Credit Score?
A business credit card won’t impact your personal credit score directly, but failing to make payments can affect your overall creditworthiness.
Should I Inform My Card Company Before Traveling?
Yes, it’s advisable to notify your card company before traveling to avoid having your card flagged for unusual spending patterns.
