Should you get a small business credit card in 2023?

A woman is holding a credit card and talking on the phone.

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Every entrepreneur should have one.


Important points

  • A small business credit card allows you to keep business and personal expenses separate.
  • Using one could improve your business credit score as well.
  • Most business credit cards offer money-saving benefits like bonuses and purchase protection.

When you start a business, your finances become more complicated. It’s no longer just about your personal finances, but also the financial considerations of your business, including expenses and how you pay for them.

Many banks offer small business credit cards designed specifically for business owners. Whether you’ve been in business for years or just starting out, this type of credit card can be extremely valuable. If you don’t have one yet or aren’t happy with your business card, then it’s worth applying for a new one in 2023.

Why buy a small business credit card?

While there are many ways you can benefit from a business credit card, let’s start with the main ones. A small business credit card separates your business expenses and your personal expenses.

Now you can use your regular credit cards to pay for business expenses. There is no law against it, but then all your expenses will be added up. This creates more work for you when it comes to tax time and finding the business expenses to write off. It can also take longer to check how much your business has spent in a given period, e.g. B. in a given quarter.

You don’t have these problems with a business credit card. If you only use it for business expenses, then all those expenses are in one place. You don’t have to dig through personal expenses to find them. Most of the best business credit cards also offer useful accounting tools that can help you stay on top of your company’s finances. For example, you can receive expense reports for a month, quarter, or year.

Another reason it’s wise to have a business card is Build your business credit. By using a business card regularly and paying on time, you can build your business credit just as you build your personal credit. If your business needs a loan or line of credit in the future, good credit can make all the difference.

Other advantages of the business credit card

Business credit cards can offer some features that help business owners save money. Here’s a look at the most valuable benefits some business cards have to offer:

  • Credit card rewards, most often either cashback or travel points, earned on purchases
  • Sign-up bonuses, which are introductory offers that new cardholders can earn
  • 0% introductory APR on purchases, allowing you to pay off purchases interest-free over time
  • Buyer Protection, which covers eligible items against damage or theft
  • Expense credits that help cover the cost of certain types of purchases
  • Free employee cards that you can manage with spend control

The exact benefits depend on the card. So if you are looking for something specific, first try to narrow it down to a specific type of business card. For example, if you need to travel constantly, business credit cards for travel are a natural solution. If you’re interested in getting some money back for your expenses, check out cash-back business credit cards.

If you already have a business credit card

For those who already have a business credit card, getting a new one in 2023 isn’t a must. However, it’s still a good idea to check current business card deals and see if there are any that could help your business.

You might have some big expenses to fund in 2023, so opt for cards with an introductory 0% APR. Or you could find a card that deserves more rewards in categories where your business spends heavily. Even if your company doesn’t to need a new credit card, there are many huge cash back bonus offers for new cardholders. Getting a new card and meeting the bonus requirements is the closest thing to easy money.

Business credit cards handpicked by experts with rich rewards and perks

Cashback, travel rewards, 0% introductory APR funding: all of these can be great credit card perks for business owners. But how do you find the right business credit card for you? There are tons of deals on the market today and it can be a hassle to sort through them to find the right one. So we did the hard work for you.

Get started today with one of our top business credit cards for 2022.

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