Best Business Credit Cards Online for Managing Your Company Expenses
According to a 2022 survey, only 20% of business owners have a business credit card. Still, as many as 90% of those who don’t have a credit card believe that having one would positively impact their company.
Business credit cards are valuable assets in today's dynamic world of commerce as they provide companies of all sizes with a convenient way to manage their funds, make payments, and earn rewards.
After covering the criteria for selecting digital business credit cards, this guide presents you with four of the best business credit cards for online use and explains how to effectively protect your online business transactions.
How To Choose the Best Business Credit Cards for Online Use
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Business credit cards come with numerous benefits for businesses, but not all providers offer the same features. Consider the following factors when selecting a card that would best fit your company’s financial needs:
The Four Best Online Business Credit Cards
Source: Mikhail Nilov
Below, we present some of the best business credit cards for online use, according to the above criteria. You’ll discover what each has to offer in terms of rewards, cashback, and bonuses, as well as their user protection policies and fees:
- The American Express Blue Business® Plus Credit Card
- Ink Business Unlimited® Credit Card
- Bank of America® Business Advantage Customized Cash Rewards Mastercard®
- UnitedSM Business Card
Please note that the presented data is current as of June 2023. Visit the company’s official website to obtain the latest information.
The American Express Blue Business® Plus Credit Card
The Blue Business® Plus Credit Card is suitable for users who value flexibility, generous welcome rewards, and lack of annual fees[1]. Its most notable benefits include:
- 2X Membership Rewards® points on eligible everyday purchases (up to $50,000 a year)[1]
- 1X points per dollar after the first $50,000[1]
- 0% purchase APR in the first 12 months from opening the account[1]
- 15,000 Membership Rewards® Points after spending your first $3,000 in eligible purchases within the first three months[1]
- Expanded Buying Power, i.e., the ability to buy beyond the credit limit[1]
- Free employee cards[1]
The card offers Extended Warranty, Dispute Resolution, and 90-day Purchase Protection for eligible items, up to $1,000 per occurrence and $50,000 per account a year[1]. It also comes with various expense management features, such as account alerts, online statements, and year-end summaries[1].
Keep in mind that this card also entails a 2.7% foreign transaction fee[2].
Ink Business Unlimited® Credit Card
The Ink Business Unlimited® Credit Card offers some of the most generous introductory bonuses in the market[3]. It’s suitable for small business owners[4] and freelancers who aren’t looking to maximize rewards in the long run. The card comes with the following benefits:
- Unlimited 1.5% cashback on each $1 you spend[5]
- $750 welcome bonus cashback if you spend $6,000 in the first 3 months[5]
- 0% purchase APR in the first 12 months from opening your account[5]
- Free employee cards with individual spending limits[5]
- No annual fee[5]
It also offers fraud and purchase protection for eligible items (up to $10,000 per claim and $50,000 per account) for 120 days[6]. With personalized Account Alerts, you can stay informed and detect fraudulent activities timely[5].
The Ink Business Unlimited Credit Card also entails:
- A 3% foreign transaction fee[7]
- Balance transfer fees of $5 or 5% per transaction, whichever is greater[7]
Bank of America® Business Advantage Customized Cash Rewards Mastercard®
Source: Republica
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® is a fitting choice for businesses with versatile expenses. It offers rewards and features such as:
- $300 bonus online statement credit after spending at least $3,000 in the first 90 days of opening your account[8]
- Cashback: 3% in the category of your choice (gas stations, office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services[8]), 2% for dining (up to $50,000 for the two categories combined)[8], unlimited 1% on all other purchases[8], up to 75% more cashback on every purchase with a Bank of America business checking account[8]
- Flexible reward redemption methods[8]
- 0% purchase APR for the first nine billing cycles[8]
- No annual fee[8]
The card comes with a suite of cash flow management tools, such as automatic payments and transfers, free access to business credit scores, and up to $100,000 in travel accident insurance[8]. You can also enjoy heightened security with fraud monitoring, zero-liability, and overdraft protection (with a checking account)[8]. Additionally, it includes:
- A 4% balance transfer fee[9]
- A 3% foreign transaction fee[9]
UnitedSM Business Card
If travel is integral to your business, consider the UnitedSM Business Card. Its biggest benefits include:
- 75,000 bonus miles if you spend $5,000 in the first 3 months of opening your account[10]
- 2 miles per $1 spent on: United Airlines purchases[10], dining and eligible delivery services[10], gas stations, office supply stores, and local transit and commuting[10]
- 1 mile per $1 spent on all other purchases[10]
- 5,000 bonus miles each year if you have a personal United credit card[10]
- Various other travel benefits, such as a free first-checked bag, priority boarding, and travel credits[10]
- Free employee cards with mileage accrual[10]
- $0 annual fee for the first year[10]
- $0 foreign transaction fee[10]
Other features include contactless transactions, various kinds of travel and luggage insurance[10], extended warranty, and 120-day purchase protection (up to $10,000 per claim and $50,000 per account)[11].
The United Business Card also entails:
- A $99 annual fee after the first year[7]
- A $5 or 5% balance transfer fee per transaction, whichever is greater[7]
Using a Credit Card Online Is Risky
Source: Tima Miroshnichenko
Despite all their rewards and consumer protection policies, credit cards come with many risks. In case of a data breach, your sensitive information could end up being exposed and misused, causing you financial loss, credit score damage, and emotional distress.
Unfortunately, credit card fraud is currently on the rise. While around 127 million U.S. citizens were fraud victims in 2021, that number has risen to over 150 million in 2022, as Security.org reports.
To protect your data, be mindful of who could access it—avoid visiting websites you don’t trust, using public Wi-Fi networks, and opening suspicious links and attachments. Keep your devices updated and your passwords strong, making sure to use a unique one for each website.
If you want even more protection, consider using business virtual cards for online and over-the-phone transactions.
The Benefits of Virtual Cards
A virtual card is a randomly generated card number with its own CVV (Card Verification Value) and expiration date.
It is connected to a real funding source, such as your bank account or debit card, but allows you to make transactions without revealing your actual card or bank details—the virtual card appears as a regular payment card but uses advanced security features.
If a data breach occurs, the potential hacker will only have access to your virtual card details, while your real card and bank information will remain protected.
Use a Privacy Virtual Card To Enhance Your Data Security Online
Privacy provides an integral layer of protection by enhancing the security of your business purchases. A Privacy Virtual Card is easy to use, customizable, and packed with features. You can:
- (Un)pause and close your virtual card seamlessly—In case of fraudulent activity, you can pause or close the card immediately to prevent further transactions.
- Lock it to a merchant or have it automatically close after a single transaction—Creating a Merchant-Locked Card will ensure that the card is restricted to a specific merchant, preventing unauthorized use elsewhere. You can also choose to create a Single-Use virtual cCard that automatically closes after one transaction, preventing potential misuse.
- Set a spending limit—Spending limits minimize financial loss in case of card theft and help you manage your budget. If you share the card with your trusted team members, you need not worry about them going over the budget as you will remain in full control of the card’s limit.
Privacy is BBB®-accredited, PCI-DSS compliant, and employs industry-standard security measures to safeguard consumer data.
Privacy Additional Benefits
Check out a few other features you can get with Privacy:
Get Privacy Today
Follow these four steps to get started with Privacy:
- Create an account
- Fill out the required KYC information
- Connect a funding source (bank account or a debit card)
- Request and generate your first Privacy Card
With the base tier, you can create up to 12 virtual cards a month. You can also set spending limits, pause and close the cards, and access the browser extension and mobile app. By opting for the Pro ($10/month) or Premium ($25/month) plan, you get benefits such as additional cards, cashback, and priority support.
Explore the benefits of Privacy Virtual Cards today!
References
[1] American Express. https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/american-express-blue-business-plus-credit-card-amex/, sourced May 2023
[2] American Express. https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/terms/bluebusinessplus-credit-card/45094-9-0?key=tncBody&rwdFlag=rwd, sourced May 2023
[3] Investopedia. Chase Ink Business Unlimited Review. https://www.investopedia.com/chase-ink-business-unlimited-review-4801593, sourced May 22, 2023
[4] Forbes. Chase Ink Business Unlimited Credit Card Review 2023. https://www.forbes.com/advisor/credit-cards/reviews/chase-ink-business-unlimited/, sourced May 12, 2023
[5] Chase. Ink Business Unlimited® Credit Card. https://creditcards.chase.com/business-credit-cards/ink/unlimited, sourced May 2023
[6] Chase. https://www.chase.com/personal/credit-cards/slate/purchase-protection, sourced May 2023
[7] Chase. https://sites.chase.com/services/creatives/pricingandterms.html/content/dam/pricingandterms/LGC55664.html, sourced May 2023
[8] Bank of America. https://www.bankofamerica.com/smallbusiness/credit-cards/products/cash-rewards-business-credit-card/, sourced May 2023
[9] Bank of America. https://www.bankofamerica.com/smallbusiness/credit-cards/terms-and-conditions/?campaignid=4065310&productoffercode=DS&locale=en_US, sourced May 2023
[10] Chase. https://creditcards.chase.com/business-credit-cards/united/united-business-card, sourced May 2023
[11] Chase. https://www.chase.com/business/credit-cards/united-business-cards/united-business-card/purchase-protection, sourced May 2023
