If you’re a business owner, having a rewards card specifically for your business spending is essential. It allows you to earn rewards on your expenses and maximize your purchases. While there are many options available, not all of them come with no annual fees. However, there are still some solid picks for those looking for a rewarding no-annual-fee business credit card.
One great option is The Blue Business® Plus Credit card from American Express. With this card, you can earn a flat 2 Membership Rewards points per dollar spent on all purchases for the first $50,000 you spend each calendar year. After that, you earn 1 point per dollar. Since TPG values Amex points at 2 cents apiece, you’re looking at a 4% return on spending up to that $50,000-a-year cap. Additionally, there’s no additional fee to add cards for employees.
Another option is the Ink Business Cash Credit Card from Chase. This card offers a sign-up bonus of $750 cash back after you spend $6,000 on purchases in the first three months after account opening. The card allows you to redeem rewards as cash back, with each point earned equal to 1 cent. However, if you have an Ultimate Rewards-earning card, you can convert your cash-back points to Ultimate Rewards points that are fully transferable to Chase’s airline and hotel partners. The card also offers bonus categories, such as 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services.
The Ink Business Unlimited Credit Card is another great option. It offers a sign-up bonus of $750 cash back after you spend $6,000 on purchases in the first three months after account opening. This card earns you 1.5% back on all purchases, uncapped. The cash back you earn on all spending can be boosted with a card that earns Ultimate Rewards since you can transfer your cash back to redeem it as points, getting you an over 3% return on spending based on TPG’s valuations.
For those who prefer cash back, the American Express Blue Business Cash™ Card is a terrific option. This card offers a sign-up bonus of a $250 statement credit after you make $3,000 in purchases on your Card in your first three months. You’ll earn 2% cash back on all eligible purchases for your first $50,000 spent each year, then 1%. You can also access expanded buying power when your business has to spend beyond your credit limit.
Capital One Spark Cash Select For Excellent Credit is a card worth considering if you travel abroad. Unlike many other cards on this list, it doesn’t charge foreign transaction fees. You’ll earn an unlimited 1.5% back on everything along the way.
Bank of America also offers some no-annual-fee business credit cards. The Bank of America Business Advantage Travel Rewards World Mastercard® credit card earns you 3 points per dollar spent on travel booked through the Bank of America Travel Center and 1.5 points per dollar spent on all other purchases. Bank of America Preferred Rewards members can earn as much as 75% more per purchase with this card.
The Bank of America Business Advantage Customized Cash Rewards credit card allows you to customize your earnings. Each month, you can designate one of the following categories and receive 3% cash back on those purchases: gas and EV charging stations, office supply stores, travel, TV and telecommunications, computer services, and business consulting services. You’ll also earn 2% back on dining and 1% back on all other purchases.
In conclusion, there are plenty of options for no-annual-fee business credit cards that offer lucrative rewards. While these cards may not have the highest earning rates or supplementary perks, they provide valuable options for business owners who want to recoup some cash or earn redeemable points toward free travel without an upfront cost.