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5 benefits of small business credit cards

Here are 5 benefits of small business credit cards that can add up to increased savings and easier expense management.

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Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

The Capital One Spark Cash for Business is no longer available to new applicants; however, Capital One has launched 3 new business cards for small business owners. Click here to learn more.

Small business owners manage a lot of responsibility, and when first starting out, you're just as likely manage the trash pick up as the payroll. Of course, finances are a huge consideration and small business credit cards can be a major asset, when used responsibly. Opening a small business credit card is a great way to streamline day-to-day business expenses while enjoying added perks, such as rewards and purchase protection.

Below, Select reviews the benefits of small business credit cards that can add up to increased savings and easier expense management.

1. Finance purchases and simplify cash flow

Small business credit cards provide a line of credit that can be used to purchase anything you may need for your business, from supplies to equipment. Without a credit card, you may not have the cash available to afford these purchases. Many business owners have to spend money to earn money, but that can be hard to do without a credit card. The line of credit can help your cash flow by giving you the ability to make purchases that can help you fulfill business orders.

Many cards also offer interest-free financing so you can pay for purchases over time without incurring interest. The Blue Business® Plus Credit Card from American Express offers 0% for the first 12 months on purchases (then 13.24% to 19.24% variable APR). (See rates and fees.)

2. Streamline employee expenses

It can be a hassle to reimburse employees for business spending on personal cards, so opting for a business card is a smart way to manage the process. Employees can use the card for all business expenses, and you'll receive one bill with all your spending and any employee spending every month. Plus many card issuers provide free employee cards, such as the Capital One Spark Cash for Business and Ink Business Preferred® Credit Card.

As the business owner, these cards give you more control of how much employees spend versus if they use a personal card. You can set spending limits and freeze cards as needed.

3. Earn rewards

Many business cards offer rewards programs that can earn you cash back, points or miles. All the purchases made on your business card account earn rewards — which includes any purchases employees make. Rewards can be redeemed in a variety of ways, such as statement credits, gift cards, merchandise and travel.

The Business Platinum Card® from American Express offers rewards geared toward business that spend a lot on travel: Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, plus a 35% Airline Bonus: use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year when you book on amextravel.com.

There are also cards with simpler rewards programs. The Capital One Spark Classic for Business offers 1% cash back on every purchase.

4. Receive travel and purchase protections

Similar to personal credit cards, business cards provide numerous travel and purchase protections. This may include no foreign transaction fees, cell phone protection, purchase and extended warranty protection, trip cancellation or interruption insurance and auto rental damage collision waivers.

All Capital One business credit cards offer no foreign transaction fees, auto rental damage collision waivers, travel and emergency assistance services, purchase security and extended warranty protection.

If you want cell phone protection, the Ink Business Preferred Credit Card offers coverage up to $600 per claim against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Ink Business Preferred Credit Card. (Terms apply.)

5. Access account management tools

Most business cards offer quarterly and year-end summaries, plus the ability to download purchase records to accounting programs like Excel and Quickbooks. This allows you to easily track spending and simplify financials come tax season.

Amex business cards allow you to review a year-end summary and send transactions to Quickbooks on a daily basis, after enrollment. Capital One business cards provide an easy view of recurring transactions, a year-end summary and the ability to download purchase records into Quicken, QuickBooks and Excel. Chase business cards offer quarterly reports and integration with bookkeeping software to simplify accounting.

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For rates and fees of the Blue Business® Plus Credit Card from American Express, click here.

Information about the Capital One Spark Cash for Business and Capital One Spark Classic for Business has been collected independently by Select and has not been reviewed or provided by the issuer of the cards prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.