Best Credit Cards for Startups In 2022

While it might not be the first thing you think of when considering a startup, a good credit card is a powerful tool. In fact, it accomplishes multiple things, starting with keeping business and personal finances separated. Additionally, it can cover cash flow, build credit, and offer perks and rewards on business spending.

That being said, not all business cards are ideal for a startup, and not all startups are the same. Some require cards with low-interest rates, while others want more powerful rewards. Take a look below if you want to find out some of the best cards available for businesses, especially startups.

Qualifying for a Business Card As a Startup

You might be wondering how a startup can get a business card if it does not have credit. There are a few ways, but one common practice is a personal guarantee, which means if the business cannot shoulder the debt, you will. That is where personal credit comes into play.

But even if you do not have good credit as an individual or business, there are options. Some cards are more flexible, including options that do not need a personal guarantee, accept low credit applicants, and work through a secured account with a security deposit.

What to Think About When Getting a Credit Card

Startups are all unique, and they have different requirements. That is why it is important to consider some basic questions, such as how large a credit line is required. From there, you can start thinking about finding a card tailored to your startup. Some of what you will want to keep in mind:

• Rewards: Is it points or cash back? How much does it give, and for what?
• Annual Fee: Is there one? How much is it compared to potential rewards?
• APR: How high? Is there a 0% period at the start?

You should also take a look at the flexible payment arrangements and whether the issuer has good customer service. Also, keep employee cards in mind, focusing on how much control you have and how easy it is to monitor expenses.

The Top Credit Cards

There are plenty of cards out there, and these are only a few of the many options. However, they each have their own strengths and stand out in different ways. Some offer more rewards and better benefits but require a higher credit rating, while others offer little but are open to startups with no credit.

Chase’s Ink Business Preferred®

There are many Ink cards from Chase, and all of them appeal to businesses. The reason Ink Business Preferred® stands out from the rest is that it offers a lot of rewards, both upfront and over time. In fact, it starts with an outstanding 100,000 bonus points as long as card owners spend more than $15,000 within three months.

But the rewards are not limited to additional points. The big draw of this card is how it rewards travelers, meaning it is ideal for those who move around for business. Some of the standard travel benefits of using this card are:

• No foreign transaction fees for purchases outside of the US
• Points used for travel rewards are worth 25% more
• The points transfer at a rate of 1:1 to participating frequent travel programs
• Trip cancellation and interruption insurance, including non-refundable expenses
• Travel and emergency assistance services keep you covered on the road

Those are only some of the benefits offered that are great for travelers. It also protects your business, starting with cell phone coverage for employees on the company phone bill if it is paid via the card. Moreover, with fraud and zero liability protection, Chase’s Ink Business Preferred® is a solid choice for any business. Employee cards are even free!

American Express Blue Business Cash™

The American Express Blue Business Cash™ card offers slightly lesser benefits than the previous card. However, the rewards available have a lower floor, meaning it is easier to reach the goal. For instance, the welcome reward is only $250 cashback, but you can snag it by spending $3,000 within the first three months instead of $15,000.

Additionally, the Blue Business Cash™ card is targeted at startups. They offer 0% interest on purchases for the first 12 months. That gives a lot of flexibility for a new business that might need to make some heavy upfront purchases that they cannot pay back immediately.

The card also includes substantial cashback, giving cardholders 2% back until they hit the $5,000 limit. Once the limit is met, the rewards drop to 1% cashback. That being said, it is a great deal, especially if you land within the sweet spot. Plus, the first $50,000 spent per year offers double points. And it even comes with no annual fees.

There are some downsides, such as the Blue Business Cash™ card lacking strong travel benefits. A global assist hotline and car rental loss and damage insurance are included, but beyond that, it does not offer anything fantastic to travelers. Fortunately, it is a great option if you only need something suitable for getting your startup going.

Brex Corporate Card

The Brex Corporate Card is an interesting choice among the many cards out there. In fact, it is unique in the sense that you can start using the card without providing a personal guarantee. That means that you can avoid personal liability as long as you have the capital to act as collateral.

The card also protects cardholders with fraud protection and zero liability from Mastercard. Moreover, there are a lot of reward points to be gained when using the Brex Corporate Card. The way the rewards work are as follows:

• 8x on rideshare
• 5x on Brex travel
• 4x on restaurants
• 3x on recurring software
• 1x on everything else

The rewards can stack up quickly, especially since you can issue unlimited employee cards. Moreover, since employee cards can be assigned their own custom limit, it makes it easy to set things up across the board. Brex even allows for detailed employee tracking to keep an eye on expenses.

There is one thing to keep in mind with this card: it draws from your account daily. It is a great way to build business credit, but it is not the best choice for those looking to make big purchases to quickly scale a business. However, for those who want an easy way to do things while also having capital, it comes with a lot of benefits.

Capital One® Spark® Classic

There are plenty of cards out there that are great for startups, but some of them come with hefty requirements. For instance, having high credit or annual fees. The Spark® Classic offers a solution for those who do not have high credit but still need a decent card for their startup. It does not even require an annual fee to be paid.

The benefits of the Spark® Classic are a tad limited, but it does offer some basic things like easy access to purchase records and $0 fraud liability. There are also employee and travel benefits that include:

• Free employee cards that are easy to track for expense reports
• Customized spending limits on employee cards
• No foreign transaction fees outside of the US
• Roadside assistance serves for auto-related emergencies

The card also offers 1% cashback on all purchases. While that is lower than average, it does apply to all cards on the account. The only real downside of the Spark® Classic is the high variable APR, which nearly reaches 27%. It is above the average and makes this card unsuitable for financing.

While there are clear limits with the Capital One® Spark® Classic business card, it is a solid option for anyone with no credit. Along with the basic benefits, that makes it ideal for those just starting out. Think of it as a great first business card and go from there.

Marriott Bonvoy Business™ American Express® Card

As the name might imply, the Marriott Bonvoy Business™ credit card is ideal for traveling. It is even more suited for people who stay at hotels regularly. There are a few reasons for this, which make it stand out more than similar cards. One, it offers a ton of points on purchases:

• 6x at hotels participating in Marriott Bonvoy™
• 4x at restaurants, gas stations, wireless phone services, and shipping in the US
• 2x on all other eligible purchases

While some limitations apply to the eligible purchases, the general trend is a lot of cashback. Moreover, the rewards only start with reward points. There are also substantial hotel-related benefits, which include:

• A free night every year after spending a certain amount
• An upgrade to Marriott Bonvoy Silver Elite status
• A total of 15 Elite Night Credits per year

Additionally, there are no foreign transaction credits, and points can be redeemed for flights and car rentals. While the rewards are heavily skewed toward staying in hotels and operating within the US, there are plenty of reasons to choose this Marriott Bonvoy Business™ card.

There are some things to keep in mind when it comes to this card. There is an annual fee, and it does not have the same acceptance abroad as some other cards. But the free night every year easily covers the fee, and the other benefits are great, especially considering how high the reward rate is.

First National Bank Business Edition® Secured® Visa Card

Another card for those with less than ideal credit comes from the First National Bank of Omaha. This card is targeted at early startups with little to no credit, and it has the flexibility to go along with it. In fact, it allows customers to choose their own credit limit when they apply, ranging anywhere from $2,000 to $100,000.

While there is still a credit approval process involved, it does make it easier to get a business card. That is great for startups, especially if it is the first venture. However, there is a 110% security deposit required. That means it requires a deposit of anywhere from $2,200 to $110,000.

The good news is that the deposit earns interest. There is also an annual fee of $39 and a variable APR of just over 20% on purchases and balance transfers. Some of the benefits that come with this card include:

• Automatic discounts on qualifying purchases
• Zero liability powered by Visa
• Additional protection against fraud and identity theft
• Free management reports
• Cash flow management

The benefits are standard while not offering anything more. However, this is a solid choice for startups having a hard time finding another card. The card is reliable, and it comes with the basic needs of any business. Just be prepared to dish out the initial security deposit and plan to upgrade after you build credit.

U.S. Bank Business Platinum

Some startups need flexibility, which is something this card offers right from the start. The U.S. Bank Business Platinum card offers 0% intro APR on purchases and balance transfers. Moreover, it lasts an entire 20 billing cycles before the rare adjusts to somewhere between 11.99% and 20.99%.

While it might not be the best rate out there, it is pretty low, especially if your credit lands you on the lower side. Additionally, it does not have any annual fee, which is a definite plus. There is also solid 24/7 support and zero fraud liability. The only downside is that there are no rewards with this card.

The U.S. Bank Business Platinum card is light on features, only offering the basics. Though, that does include expense management with Visa Spend Clarity, which allows the cardholder to:

• Access and sync expenses
• Set employee card controls
• Generate reports
• Mobile receipt upload

While this card might not be the first choice for many people, there is something to be said about the low interest and 0% intro APR. On those values alone, it can help a startup get rolling without having to worry. Just know that everything else is at a bare minimum.

Bank of America® Business Advantage Customized Cash Rewards Mastercard®

Although the name is a mouthful, it is a great card and deserves to be on the list. Even if it is just because the Bank of America has a solid customer service reputation. However, another great benefit is the customized cash rewards, which allow the cardholder to choose a category for 3% cashback.

The card also offers 2% cashback on dining and 1% on everything else. That being said, the additional cashback is only on the first $50,000 in purchases before it drops to 1% across the board. Fortunately, the intro bonus of $300 after spending $3000 is appealing and very achievable for most startups. Other nice features include:

• A nice 0% APR for the first nine billing cycles
• No annual fees to worry about
• Flexible cash back redemption rewards that do not expire
• Additional cash back rewards with one of their business checking accounts
• Travel and emergency services benefits

While the cashback reward is the clear focus of this card, it also offers a competitive APR after the intro period and helpful cash flow management. Moreover, with the ability to customize the cashback, it can be tuned to your needs.

Capital on Tap Business Credit Card

Capital on Tap is a card built for small businesses. It is the focal point of the issuer, WebBank, and it is the reason it is such a good choice for startups. While it might not support a large venture, it offers credit limits between $1,000 and $50,000. It also has a shockingly low APR, which can reach as low as 9.99%.

Unfortunately, the range for the APR is high, going anywhere from that 9.99% to 34.99%. The intro reward is also rather low, with cardholders only receiving $200 after spending $15,000 in the first three months. But as long as you do not mind that, there are some other great benefits, such as:

• No annual fee
• No foreign exchange fees
• Unlimited 1.5% cash back
• Unlimited cards for employees
• Quick approval process

In fact, during the approval process, the company only runs a soft check, meaning it will not impact your credit score. Additionally, there is more flexibility with credit rating when it comes to Capital on Tap. It even comes with basics like expense management.

If you are looking for a flexible card that is easy to apply for and manage, this is a great option. The only thing you need to keep in mind is the high upper limit on the APR and the lacking intro reward.

Ink Business Unlimited® Credit Card

The final card on the list shows the return of Ink, with another of their fantastic cards standing out. Each of the Ink Business cards has its own benefit, and the Unlimited card focuses on a simple, no-fuss reward system with a number of great benefits. Some of the benefits you can expect include:

• Unlimited 1.5% cash back on every business purchase
• Flexible redemption options with cash back that does not expire
• Unlimited employee cards at no additional cost
• Account management to track expenses
• Hefty protection against fraud and more

The benefits for businesses are not limited to account management. There is also no annual fee and 12 months of 0% APR on purchases to get you started strong. Moreover, the travel protection is fantastic. The card comes with roadside assistance and travel and emergency assistance services, among other benefits.

However, one of the most appealing things about this card is the generous intro reward. If cardholders spend $7,500 within the first three months, they receive $750 cashback, which is a nice bonus on an already good card. While the Unlimited card might not offer as much as their Preferred card, it is an excellent choice for any business.

Final Thoughts

There are multiple types of business cards above, with each having its own strengths. However, the important thing to remember is to find one that suits your startup. After all, even the best rewards or benefits are not worth much if they do not fit the spending you expect or your company’s needs.