Business Credit Cards

Updated 11 August 2020

An essential tool for businesses big and small, business credit cards are designed to help improve cash flow, while allowing business owners to keep personal and business spending separate. While there are basic options available, some business credit cards offer more in the way of features, providing handy travel extras, as well as the opportunity to earn rewards on business spending.

Earning Rewards On Business Credit Cards Spending

Business rewards cards are a popular option, as they allow business owners to earn points on business spending. With multiple cards on one account, this can help accountholders stack up points more quickly, which can then be redeemed for rewards to benefit the business, the business owner or employees that deserve recognition.

If you are considering a business rewards card, here are some important factors to keep in mind.

Rewards Programme: Choose a rewards programme that rewards your spending, while also providing rewards that will be of benefit to you. While a frequent flyer programme may suit businesses that spend a lot on travel, a cashback programme may work better for companies that stay closer to home.

Earn Rate: Check the earn rate to see how many points you will earn on your spending. By estimating your annual spend, this will tell you how many points you will earn each year on each card you are interested in.

Points Cap: Some cards limit the number of points you can earn each month or each year with a points cap. With an idea of your annual spend, you will be able to see which cards to cross off your list if their points caps are too low.

Eligible Spending: Not all spending will be eligible to earn rewards points. Check the small print on each card to find out more about which transactions are eligible to earn points, and which aren’t. Choose a card that gives you the highest points earn on your spending.

Annual Fee: You may pay one annual fee overall, or you may pay an annual fee for each card in use. Look at the total you will pay in annual fees, and make sure this is less than the value of rewards you will earn each year.

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ASB Visa Business Credit Card

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$0 saved over months

ASB Visa Business Rewards Credit Card

1 review
$0 saved over 6 months

Westpac Airpoints Business Mastercard

1 review
$0 saved over 12 months

Westpac BusinessPlus Mastercard

1 review
$0 saved over 12 months

Taking Advantage Of Business Card Features

While for some businesses a business credit card may act as nothing more than a tool to access credit, others may be interested in the extras business cards can offer. Keep an eye out for these features when comparing your options.

Interest Free Period

Like most credit cards, business cards can offer interest free periods on purchases. These provide a certain number of interest free days on purchases, as long as the accountholder clears the balance by the due date each month. This feature can assist with cash flow, allowing businesses to cover purchases and then pay for them later.

Accounting Software Integration

Some business credit cards offer easy integration with accounting software. This can make it easier to account for all business spending come tax time.

Airport Lounge Access

Travelling frequently for business can be wearing. Having access to airport lounges as you travel not only makes travel less stressful and more comfortable, it can also allow you to work in peace as you wait for your flight. Check out card options that offer airport lounge passes if you or your employees travel frequently.

Travel Extras

Aside from airport lounge access, business credit cards can offer any number of travel-related perks that would suit the frequent traveller. These can include complimentary hotel stays, upgrades, travel insurance and concierge services.

Benefits Of Business Credit Cards

Why apply for a business credit card for your company? Here are some of the main reasons why business owners opt to keep a business credit card.

It Can Assist With Cash Flow

As with any type of credit card, a business credit card offers access to credit, allowing you to pay for the things you need now, to then pay them off in the future. This can be extremely handy when running a business, especially when you can take advantage of interest free days.

It Separates Business And Personal Spending

Small business owners may be tempted to use their personal credit card for business spending, but this is not always a great idea. Using a business credit card allows business owners to keep personal and business spending separate, offering all kinds of benefits.

It Allows You To Set Individual Spending Limits

Business credit cards often allow business owners to have multiple cards under one account. Each card can be given to an employee who needs it, with spending limits placed on each individual.

It Makes It Easy To Monitor Business Spending

Not only can you monitor business spending as a whole, you can also track spending on each individual cardholder. Business credit cards typically provide individual statements, as well as a company statement, and may also provide real-time tracking via an app or online banking.

It Allows You To Earn Rewards

As we mentioned previously, business credit cards can provide an easy way to earn rewards on business spending. The rewards you earn could be used to treat worthy employees, to cover business travel or office essentials, or simply give you the rewards you want. Keep an eye out for intro offers providing bonus rewards points, as these can add even more value to the card.

It Offers A Range Of Handy Features

If you are paying for certain features for your business – such as airport lounge access or travel insurance – a business card that offers these features could help you to save money.

Ready to see what a business credit card could do for your business? Check out our selection of business cards, taking into account the various features on offer to find the right option for your business. All that’s left to do is apply!

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