What are the Best Business Credit Cards for Travel?

By

best business credit cards for travel

The best business credit card for travel really depends on your needs. International travel varies from domestic, and you may prefer hotel perks or airline perks…some cards even offer the best of both worlds. 

Here, I’ll share what factors you should consider before you apply for any travel business credit cards. Then, I’ll give you my top five picks to consider and share tips recommendations along the way. 

This is what’s in store: 

Now, let’s roll! 

Before You Apply, Check Your Priorities

When it comes to business credit cards for travel, you can check out the lists from Forbes and CNN, but just because you get a recommendation from an expert doesn’t mean a card is going to be right for you. 

So, before you even start your research, you gotta ask yourself some questions: 

  • Will you be traveling internationally?
  • Will you spend enough to make it worth paying an annual fee? 
  • Do you want a card that gives you airport lounge access? 
  • Are there any airlines that you want to boycott? (Especially if you’re traveling economy, some airlines’ seating can be brutal for old backs!) 
  • Would you prefer air travel perks or accommodation perks? 

If you’ll be traveling internationally, look at cards that don’t charge foreign transaction fees. Many of them do not, but you need to be sure because these can eat away at your funds quickly with a lot of overseas spending.

Some travel rewards cards come with hefty annual fees. For example, it costs $695 per year to use the Amex Business Platinum card. With enough spending, annual fees can certainly be worthwhile. But, if you won’t be spending enough to outweigh an annual fee, you should avoid it. 

Several credit cards offer airport lounge access – this is something you might want to take advantage of, particularly if you tend to get stuck with layovers. Shop around and make sure that you’re getting airport lounge access if this is what you want. 

There might be an airline or two that you don’t want to travel with – maybe its because you don’t like their food, they could be overpriced, or their seating might be unpleasant. No matter the reason, if you don’t want to travel with a certain airline, don’t get their business credit card (even if the rewards are stellar). 

Finally, think about whether you’re more interested in hotel or airfare rewards – if you’re looking to earn United Airlines miles, the Hilton Honors Business credit card isn’t going to be the best fit. 

You might also like: How to Convert Credit Cards into Cash

The Best Business Credit Cards for Travel 

With the above considerations in mind, and in the spirit of sharing a variety of options to suit various needs, here’s the list I came up with. These are some of the best business credit cards for travel and travel-related expenses. 

Chase Ink Business Preferred® Amex Business Platinum®Marriott Bonvoy Business™ by AmexCapital One Spark Miles for BusinessCitiBusiness® AAdvantage® Platinum Select®
ChaseAmerican ExpressAmerican ExpressCapital OneCiti
VisaAmerican ExpressAmerican ExpressVisaMastercard
$95$695$125$0 intro for 1st year, then $95$99 (waived for 1st 12 months)
15.99% – 20.99%N/A (Charge Card)15.74% – 24.74%20.99% (variable)15.99% – 24.99%

Learn more about the perks of each card below. 

1. Chase Ink Business Preferred® Credit Card 

Chase Ink business preferred for travel rewards

The Chase Ink Business Preferred® Credit Card is one of the best small business credit cards for travel rewards. It’s issued by Chase on the Visa network and carries an annual fee of $95. It offers a variable APR ranging from 15.99% to 20.99%. This card is ideal for businesses with significant travel and advertising expenses. 

It earns 3 points per $1 on the first $150,000 spent in combined purchases each year on: 

  • Travel
  • Shipping purchases
  • Internet, cable, & phone services
  • Advertising purchases on social media and search engines 

Plus, points are worth 25% more when redeemed for travel through Chase Ultimate Rewards, and the card also includes cell phone protection.

Recommended: Chase Ink Business Preferred Credit Card: A Deep Dive Analysis 

2. American Express Business Platinum Card® 

best business credit card for international travel

The American Express Business Platinum Card® from American Express comes with a hefty annual fee of $695 and runs on the American Express network. As a charge card, it requires full payment each month. 

However, for this cost, businesses gain access to premium travel benefits, including: 

  • Centurion Lounges
  • Priority Pass lounges
  • Delta Sky Club access (when flying Delta) 

Cardholders also receive a $200 airline fee credit and earn 5x Membership Rewards points on flights and prepaid hotels booked through amextravel.com. This card is best suited for businesses seeking top-tier travel perks and are willing to invest in a higher annual fee.

You might also like: 7 Best Cash Back Corporate Credit Cards to Explore 

3. Marriott Bonvoy Business™ American Express® Card 

best credit cards for business travel

The Marriott Bonvoy Business™ American Express® Card issued by American Express has an annual fee of $125 and a variable APR ranging from 15.74% to 24.74%. It runs on the American Express network and is tailored for businesses frequently staying at Marriott properties. 

Cardholders earn 6x points at participating Marriott Bonvoy hotels, receive an annual free night award, and enjoy automatic Silver Elite Status. Plus, it offers travel-related assurances and more. 

Recommended: Marriott Bonvoy Business Credit Card Review & Comparison 

4. Capital One Spark Miles™ for Business

CapitalOne Spark Miles for Business travel

The Capital One Spark Miles for Business, issued by Capital One on the Visa network, has a $0 intro annual fee for the first year, then $95 thereafter. It carries a variable APR starting from 20.99%. This card is suitable for businesses seeking simple rewards with flexibility in redemption options. 

Cardholders earn unlimited 2x miles per dollar on every purchase, with no foreign transaction fees and the ability to transfer miles to several airline partners. Miles can be redeemed across a range of hotel chains and airlines. 

You might also like: What are the Best Unsecured Business Credit Cards for Startups? 

5. CitiBusiness® AAdvantage® Platinum Select® Card 

Best small business credit cards for travel

The CitiBusiness® / AAdvantage® Platinum Select® Mastercard® is issued by Citi on the Mastercard network and comes with an annual fee of $99, waived for the first 12 months. It offers a variable APR ranging from 15.99% to 24.99%. 

This card is ideal for businesses loyal to American Airlines, as it earns 2x miles on eligible American Airlines purchases and provides perks such as the first checked bag free on domestic American Airlines flights and preferred boarding.

You might also like: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth

Frequently Asked Questions

​​Which credit card has the best travel benefits?

The best credit card for travel perks depends on your specific preferences and travel habits. Cards like the Chase Ink Business Preferred, American Express Business Platinum, and Capital One Spark Miles offer a range of benefits like lounge access, travel insurance, and bonus points on travel purchases. Look for the card that aligns with your needs and preferences.

Is it better to travel with a Visa or Mastercard?

Both Visa and Mastercard are widely accepted globally, so you can’t go wrong with either. They offer similar acceptance rates and security features. However, some Visa and Mastercard products may have different travel perks like rental car insurance or travel assistance services. Check the card benefits and consider carrying both for more chance of acceptance. 

Which card is best for international travel?

For international travel, look for cards with perks like no foreign transaction fees, travel insurance coverage, and access to airport lounges to pass the time during long layovers. Be sure to choose a card that fits your spending habits and travel preferences.

Do business credit cards have better benefits?

Business credit cards tend to come with perks tailored to business needs, like higher rewards on business purchases and employee spending controls. While some offer great travel benefits and rewards, it depends on the card and your business operations. 

What is the best credit card for business class travel?

The best credit card for business class travel depends on factors like airline preferences and desired perks. Cards such as the American Express Business Platinum, Chase Ink Business Preferred, and CitiBusiness AAdvantage Platinum Select Mastercard offer various benefits like priority boarding and rewards tailored to business travel. Consider what matters most to you when making your choice.

Final Takeaway

Finding the best business credit card for travel boils down to your unique needs and preferences – with the surplus of options available, consider factors like: 

  • International versus domestic travel
  • Preferred perks such as hotel or airline benefits
  • Your spending habits

Before diving into the ocean of business credit cards for travel, take a moment to assess your priorities and ask yourself the right questions. Whether you’re seeking lounge access, rewards on travel purchases, or specific airline perks, there’s a card out there to suit your needs. 

From the Chase Ink Business Preferred to the American Express Business Platinum and beyond, each card offers its own set of benefits designed to enhance your travel experience. So, keep your priorities in check, explore your options, and get ready to jet set with confidence!

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

BHG Money Review: Did You Know They Offer Business Loans Too? 

By

BHG Money Review

BHG Money is super well known in the lending world – they offer substantial loans with more than reasonable repayment terms. And, for the most part, borrowers are happy with their services. And, while there are a ton of bloggers sharing their insights about the offer, most BHG Money reviews focus on the personal products. 

So, let’s chat about BHG Money’s business loans and services – if you’re in the market for funds to grow your business, this could be the solution for you. Take a look here to find out what you can expect if you decide to apply. 

This is what’s in store: 

Now, let’s dive in! 

What is BHG Money? 

BHG Money Loans

BHG Money positions itself as a provider of “premium” loans, and offers customized solutions tailored to individual financial goals. The company takes a customer-centric approach, offering funding for major milestones with flexible terms and a concierge service. 

The lending services extend to both business and personal needs, with business loans reaching up to $500K and personal loans up to $200K. 

According to BHG, the application process is user-friendly with three simple steps: 

  1. Getting started with the guidance of a dedicated team
  2. Reviewing qualifications without affecting credit scores
  3. If approved, receiving prompt funding for a custom loan solution 

BHG Money presents itself as a trusted financial partner, claiming $15 billion in loans funded, an A+ BBB rating, and 150,000+ customers. 

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options 

BHG Company Overview

BHG Financial owns BHG Money

BHG Money is owned by BHG Financial, also known as Banker’s Healthcare Group LLC. They’ve been offering business loans since the company was founded in 2001 by Bobby Castro, Eric Castro, and Al Crawford. The business is currently registered to Al Crawford. 

Unfortunately, BHG Financial is part of an ongoing class action lawsuit that alleges the company illegally disguises consumer loans as business loans. We won’t know the validity until the case either settles or is tried in court – these things usually take years.   

BHG Money Reviews Complaints Reddit

While the legality of their business loan offer is up in the air, we can still look at what we know about the company. 

First, they do have accreditation and an A+ BBB rating. However, that’s paired with 522 complaints closed in the past three years, 173 of those being in the past 12 months. The A+ rating might change in time if the class action holds any merit.  

BHG Money BBB

BHG is listed on the INC. 5000, which indicates that they’re ranked as one of the fastest-growing companies in America. And, they aren’t lying about BHG Money’s high Trustscore™ on Trustpilot®.

BHG Money Reviews

So, overall, their clients are satisfied with their loans and service. This really says a lot for any financial offer. Most people head over to public review sites when they’re unhappy with an offer, not to praise it – especially in the financial industry. Now, let’s find out what their business loans entail. 

Recommended: Is BHG Financial Legit? Personal & Business Loans, VC, & More

BHG Money Business Loans

BHG Money Business Login

BHG Money offers loans for businesses in amounts from $20K to $500K with repayment terms as long as 12 years. They emphasize a user-friendly process with no application fees, commitment, or impact on personal credit during the estimation stage. Find out if BHG can really simplify the lending experience with a dedicated US-based concierge service.

Recommended: Is BHG Financial Legit? Personal & Business Loans, VC, & More

BHG Money Interest Rates & Terms

With BHG Money’s business loans, you can access financing ranging from $20,000 to $500,000 with repayment terms extending up to 12 years. Now, they don’t publicly share their interest rates, but I did some digging to get an idea what they might be. 

Based on one Reddit discussion, it seems BHG offers loans with varying interest rates. I know that their interest rates are negotiable, which might enable you to secure terms that align with your goals. 

In the original post, a borrower negotiated terms down to a fixed interest rate of 16.49% (I think this is high) on a $50K loan with a monthly payment of $1,022.21 over an 84-month term — there was also a $750 documentation fee. This borrower said they were annoyed with the initially-proposed high interest rate and the persistent follow-up calls, but were considering signing.

On this loan, the estimated total repayment amount would be approximately $101,878 – this is more than twice the original loan amount.

BHG Money Business Loan Requirements

Another Redditor shared that they were able to negotiate 9.99% interest on a $150K loan with 96-month repayment terms. They apparently paid a $1,750 documentation fee and a $3,750 reimbursable service fee. They confirmed that it took a lot of back and forth to get these terms, but that the company was willing to compromise. 

The estimated total repayment amount over the 96-month period on this one calculates to approximately $193,561 – this time, nearly twice the original loan amount. 

BHG Money Business Loan Review

These loans do, according to a few borrowers, include a lockout period, which means you can’t necessarily make extra monthly payments on your loan unless you are paying it off in full. 

You might also like: The Payoff Loan Review: Is This the Debt Consolidation Option for You? 

Several Types of Loans

Is BHG a personal loan?

BHG Money provides a diverse range of loan solutions tailored to meet various business needs.

Their loans might help you:

  • Consolidate debt
  • Invest in your business
  • Establish a new income stream
  • Grow your medical practice

In sum, you might be able to use a BHG loan to effectively manage your debt or upgrade your operations and grow your business. If you’re a medical practitioner (doctor, dentist, veterinarian), this offer might be a great fit because it could help you acquire, develop, or expand your practice.   

It’s important to note that BHG Money does not specify restrictions on the usage of funds, allowing businesses the flexibility to allocate capital according to their unique requirements and strategic priorities.

BHG Money card

I think it’s worth noting that, while lots of people think that BHG Money offers consumer credit cards and business credit cards – they don’t. But, they do have handy spending cards that you can use with your BHG Money loan funds. 

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors] 

US-Based Concierge Service

Is BHG a predatory lender?

BHG Money takes pride in its dedicated US-based concierge service, designed to enhance the overall borrowing experience for elite professionals – This service ensures that businesses receive personalized attention and guidance throughout the loan process. 

With a commitment to responsiveness and understanding, the concierge service aims to address individual needs promptly and efficiently. A level of customer support like this is particularly beneficial for businesses, offering a reliable point of contact and assistance in navigating the intricacies of the loan application, approval, and funding stages. 

The US-based concierge service aligns with BHG Money’s commitment to providing not just funds but a comprehensive and supportive financial partnership for businesses.

You might also like: A Deep-Dive National Funding Review: Should You Accept an Offer? 

Frequently Asked Questions

Does BHG require collateral?

No, Bankers Healthcare Group (BHG) offers unsecured loans. This means borrowers are not required to provide collateral such as personal assets or property to secure the loan.

Are BHG loans secured?

No. BHG loans are typically unsecured, meaning they are not backed by specific assets or collateral. This allows qualified borrowers to access funds without risking personal assets.

Can you pay off a BHG loan early?

Yeah, BHG typically allows borrowers to pay off their loans early. However, you’ll need to review the terms and conditions of the specific loan agreement because their loans are known to have lockout periods, prepayment penalties, and restrictions.

What credit score do you need for a BHG loan?

BHG considers a range of factors during the loan application process, and credit score is one of them. While the exact credit score requirement may vary, BHG often works with borrowers who have good to excellent credit scores.

Is BHG Financial a bank?

No, BHG Financial is not a traditional bank. It is a financial institution that specializes in providing customized financial solutions, including loans, to healthcare and licensed professionals. BHG is known for its focus on the healthcare industry and tailored financing options.

Final Thoughts: Is BHG a Legitimate Company? 

So, BHG Money is an established company that’s been in the lending game for over two decades now. They are an established, legitimate business, but there’s definitely more than one red flag here. 

First, there’s an open class action alleging that they’ve illegally disguised personal loans as business loans with borrower testimonies floating around to verify this. Next, I think their interest rates sound high and I don’t love that they implement lockout periods on repayment. Lastly, BHG Money might be in a gray area where transparency is concerned – they don’t share their rates publicly, and it took work to track down their business registration (but it is current). 

Now, on the bright side, they have tons of satisfied borrowers that they’ve worked with over the past two decades. And, if you know someone who’s taken a loan with them, it might be worth asking about their experience. Weigh your needs against the offer, and shop around before you sign anything. 

Do you want to learn how to get up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Is BHG Financial Legit? Personal & Business Loans, VC, & More

By

BHG Financial

While not a new company, BHG Financial started becoming wildly more popular than ever in 2022. Since then, they’ve been garnering attention with rumors that owners can get pre-revenue ($0 income) business loans with no personal guarantee. While applicant’s can expect a ton of phone calls from the moment they share their contact info with the company, this is true for most modern lenders. 

Most of all, people want to know if BHG Financial is legit. Keep reading to get the answer. 

Here’s what’s in store: 

Now, let’s get down to it! 

What is BHG Financial? 

BHG Financial is a financial company that offers various solutions for small and medium-sized businesses (SMBs) as well as consumers across the U.S.

Their approach involves using data analytics and technology to market and underwrite small business and unsecured consumer loans. They claim to be a disruptor in the industry, with a focus on providing innovative financial solutions. BHG operates with a proprietary online auction platform to sell loans to a large network of bank members.

Is BHG Financial Legit? 

According to the company website, BHG Financial started back in 2001 with a modest $25K and a small team. Fast forward to today, they’ve grown significantly. The numbers they highlight include over $15 billion in loan solutions, processing around 31,000 applicants each month, with 1,450 bank members and a team of 1,500 employees.

According to Crunchbase, BHG Financial (aka “BHG Financial LLC”) is a Ft. Lauderdale, Florida-based, for-profit company. 🚩However, according to Sunbiz.org (Florida’s Division of Corporations website), no such-named business is registered in the state. 

Who owns BHG Financial?

However, Banker’s Healthcare Group LLC. (per bngfinancial.com Terms & Conditions) is active and registered to Albert (Al) Crawford in Davie, Florida. Crawford is the current Co-Founder, Chairman, and CEO at BHG Financial where he’s been since the company’s humble beginnings. 

Bankers Healthcare Group is known to directly lend funds and offer financing, credit cards, and patient financing tailored for healthcare professionals for the past 20+ years.  

🚩 In digging deeper, I found that, as of November 2023, Bankers Healthcare Group is facing a proposed class action lawsuit that alleges they disguise consumer loans as business loans to cover up unlawful lending practices. If you follow along, you might be able to find out if this allegation has legs – it will be interesting to find out.

Who is BHG Financial?

Despite 522 complaints in the past 3 years (175 closed in the past 12 months), BHG Financial maintains an A+ rating with the Better Business Bureau (BBB), where they’ve been accredited since 2018. 

BHG Financial Reviews BBB

Now, if the class action previously mentioned happens to stick, this rating might go down. 

As reported by at least Redditor, as a lender, BHG reps might try high-pressure tactics to get someone to take a loan offer, but they’re legit and their financial products are negotiable. 

BHG Financial Reddit

In all, the company has been around for over 20 years with its original leadership (they haven’t sold out), and they have no founded legal issues that indicate they’re going to take your money and run.  

You might also like: Torro Business Funding Review: Is This “Zero Hassle” Offer Legit?

What Does BHG Financial Do? 

BHG Financial is a parent company with several brands under their umbrella, including BHG Money and several other financial offerings. Let’s take a quick look at each of BHG’s brands and how they serve consumers and businesses. As they put it themselves, they “bring a diverse set of innovation solutions to the market. 

And, two of their brands offer financing for small business, so I’ll touch on them first. 

1. BHG Money Loans

BHG Money

BHG Money positions itself as a versatile financial solution, offering swift and hassle-free services for individuals and professionals. Whether you’re in need of business, personal, startup, or SBA 7(a) loans, or exploring credit card options, BHG Money caters to a diverse range of needs. 

BHG Money’s business loans include: 

  • Up to $500K with flexible terms up to 12 years
  • Debt consolidation loans
  • Existing business investment loans
  • New business opportunity loans
  • Medical practice loans (naturally)
  • Working capital loans

What’s cool is that these loans can be approved in as little as 24 hours, and they don’t require personal collateral, a business loan, or pro forma to qualify.   

This offering is particularly well-suited for individuals and professionals seeking efficient and convenient financing with a focus on prompt access to funds for various purposes.

Recommended: BHG Money Review: Did You Know They Offer Business Loans Too?

2. Fund-Ex Solutions Group Loans

BHG Financial Loan Requirements

As one of the 14 non-bank SBA 7(a) lenders, Fund-Ex Solutions Group provides rapid and flexible financing for small businesses. 

Fund-Ex Solutions Group caters to businesses with several loan options: 

  • Up to $5M with repayment terms up to 25 years
  • Commercial debt consolidation
  • Real estate
  • Start up or acquisition 
  • Equipment purchase
  • Renovation or expansion
  • New location 

Like BHG Money, Fund-Ex Solutions doesn’t require personal collateral, and these loans won’t impact your personal credit. You can use their loans for a variety of business purposes and there are no balloon payments at the end of the loan. 

This offering could be advantageous for small business owners aiming to access efficient and tailored financing solutions, supporting their growth and development endeavors.

3. BHG Bank Network

Who is BHG Financial

Tailored for financial institutions, BHG Bank Network provides a cutting-edge loan delivery platform. This platform not only allows banks to view but also to purchase top-performing assets. 

Ideal for banks looking to bolster their loan portfolio, BHG Bank Network leverages state-of-the-art technology to streamline the acquisition process of high-performing assets. This can enhance overall operational efficiency.

4. NaluPay

BHG Financial login

NaluPay distinguishes itself as a merchant-centric point-of-sale financing platform. Designed specifically for healthcare, home improvement, and retail businesses, NaluPay strives to make customer purchases more affordable. 

This offering is beneficial for businesses (in these sectors) that want to offer flexible financing solutions, to foster increased sales, and enhance customer satisfaction through accessible payment options.

5. Risk Management Solutions Group

BHG Financial Careers

The Risk Management Solutions Group concentrates on delivering regulatory, compliance, and risk management services. Targeted at financial institutions, this offering is designed to assist these entities in staying ahead of industry changes. 

It might be great for institutions navigating the complex landscape of regulations and effectively mitigating risks to ensure compliance and operational stability.

6. BHG Connect

BHG Financial Review

BHG Connect introduces a co-branded end-to-end lending program, simplifying the process for companies to seamlessly offer loans online. 

This program is an excellent fit for businesses looking to integrate lending options into their services effortlessly, providing customers with convenient online access to loans and enhancing the overall customer experience.

7. BHG VC

BHG Financial Interest Rate

Operating as a Corporate Venture Capital fund, BHG VC supports disruptive fintech founders and contributes strategic resources. BHG VC aims to facilitate rapid growth in the financial technology sector by providing comprehensive support to promising startups.

BHG VC might be suited for fintech entrepreneurs seeking both financial backing and strategic guidance for their innovative ventures. 

You might also like: Y Combinator: Fast Track to Success or Waste of Time? 

Frequently Asked Questions 

What credit score do you need for BHG? 

BHG typically requires a credit score in the good to excellent range, often around 680 or higher. However, specific credit score requirements may vary depending on the type of loan and individual circumstances.

What type of loan is BHG? 

BHG offers a range of loans, including business loans, personal loans, startup loans, and SBA 7(a) loans. The diversity of loan options caters to both professionals and businesses with varying financial needs.

Does BHG require collateral? 

For many of its loan products, BHG is known to provide unsecured loans, meaning they generally do not require collateral. This can be beneficial for borrowers who prefer not to pledge specific assets.

What is the BHG business loan rate? 

BHG’s business loan rates can vary based on factors such as the type of loan, the borrower’s creditworthiness, and prevailing market conditions. I’ve seen them range from 10% to 16%+. Contact BHG directly or visit one of their websites for the most accurate and up-to-date information on loan rates.

Do BHG loans affect credit? 

Yes, like any other loan, BHG loans can impact your credit. When you apply for a loan, BHG typically performs a hard inquiry on your credit report, which may have a temporary impact on your credit score. Timely repayments can positively influence your credit history, while late payments or defaults may have a negative effect. And, most of their business loans are likely to carry a personal guarantee (you’re responsible to pay it back if your business defaults).

Conclusion: Is BHG a Legitimate Company? 

Yep! BHG is a bona-fide financial technology company that offers not only consumer and business loans, but risk management, point of sale (POS) solutions, venture capital for startups, and more. 

There is an open class action proposal (as of January 2024), but the allegations haven’t been proven. And, according to the language, the claims against the company are likely to affect consumer loans, but not business loans. 

In all, if you’re looking at taking a loan with BHG, just be ready to negotiate ideal terms and ask for interest rates that you can comfortably work with. 

Do you want to learn how to get up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today! 

3 Best Business Credit Cards for a New LLC +More Resources

By

Business Credit Cards for New LLC

So, you’ve started a new LLC, and you’re interested in getting business credit cards. But, since your business is new, you haven’t established business credit yet. So, what are the most promising cards for you to apply for? 

Here, I’ll tell you what cards you might qualify for (along with their requirements), and explain exactly what I would do in your position. As a new business, you don’t automatically have business credit, so you may want to establish it now. 

Recommended: Download our Free Business Credit Checklist

Here’s what’s in store: 

Now, let’s roll!

What Are Business Credit Cards? 

Before we look at the cards you might qualify for, let’s make sure you’re clear on what you want. More often than not, business owners get other spending cards confused with business credit.  

Business credit cards are revolving lines of credit that can be used for business spending. Only a percentage of the total amount spent is required to be paid each billing cycle. Business credit cards accrue debt on any balance left unpaid. 

Meanwhile, corporate cards are either prepaid or must be paid in full at the end of each billing cycle. Corporate cards typically supplement robust business expense management software and tools. 

So, if you need funding, look at the credit cards below. And, If you need expense management, consider the recommended corporate cards. 

Recommended: Corporate vs Business Credit Card: What’s the Difference? 

Can a Newly-Formed LLC Get a Credit Card? 

So, how soon can you apply for a business credit card and do brand new LLCs get business credit? 

Getting a business credit card for a brand new LLC depends on factors like the business’s creditworthiness and the personal credit history of the owners. Typically, credit card issuers have a waiting period before a new business can apply, often a few months to a year (but this isn’t always the case). 

As a new LLC, it’s important to establish a clear separation between business and personal finances by: 

  • Obtaining an EIN
  • Opening a business bank account
  • Maintaining distinct records

The likelihood of approval is higher if the owners have a good personal credit score. As the business operates and builds a positive credit history, it becomes easier to qualify for business credit cards. Check with specific credit card issuers for their policies and requirements.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options 

Best Business Credit Cards for New LLCs

Here, I’ll lay out my favorite business credit cards for new LLCs. You’ll see a summary of each offer (why I like it) and how long your business must be in operation before you apply. 

If you can’t get a business credit card yet, and you’re in need of immediate funding, scroll down to the loans section. Or, join Business Credit Workshop to learn how to get up to $100K in business credit in as few as 30 days. 

1. Chase Ink Business Preferred

credit cards for new businesses with no credit history

The Chase Ink Business Preferred card stands out as one of the top small business credit cards, thanks in part to its impressive sign-up bonus. Although it doesn’t offer a 0% APR and comes with an annual fee, there’s significant potential for savings and rewards. If you believe your business meets the qualifications, I recommend this one.

To qualify for the Chase Ink Business Preferred credit card, you don’t need a specific annual income or business history, but your revenue should cover the minimum monthly payment. 

Other requirements include: 

  • A FICO score of 670 or higher 
  • A minimum credit limit of $5,000

Chase evaluates your application using your personal credit score, with a recommended FICO score of 670 or higher. Keep in mind that while a good credit score is important, it doesn’t guarantee approval or denial. Whether you’re an incorporated business (LLC, corporation, partnership, non-profit, etc.) or a sole proprietor, you’re eligible to apply for the Chase Ink Business Preferred credit card.

Recommended: Chase Ink Business Preferred Credit Card: A Deep Dive Analysis 

2. Bank of America Executive Explorer

Startup business credit cards for new llc

Next, consider looking into the Bank of America Executive Explorer card. Despite its $375 annual fee, the card’s perks more than justify the cost. For instance, you receive a $600 Lounge Access credit annually and a $100 Airport Fast Track credit every four years. Moreover, you gain access to the Benefits on Us and Dinova Rewards programs. 

While a new LLC could be approved, it’s important to note that this isn’t a revolving credit line; rather, it functions as a “corporate credit card” that must be paid in full. To qualify, you must be an executive or owner of your company, and while there’s no minimum business history requirement, having an excellent credit score is crucial. 

Owners with FICO scores of 740 or higher stand the best chance of getting approved for Bank of America business credit cards.

Recommended: What is the Best Bank of America Business Credit Card for Your Needs? 

3. Marriott Bonvoy Business

Best business credit cards for new llc

I believe Marriott boasts one of the top hotel rewards card programs. The appealing part is that while you travel for work, the Marriott Bonvoy Business credit card helps you build business credit. If you meet the criteria, applying for and using this card is a smart move. 

Keep in mind that the Marriott Bonvoy Business Credit Card is exclusive to business owners and authorized representatives with a credit score of 700 or higher. 

Approval considerations also include factors like: 

  • Annual income 
  • Existing debts

Start earning travel rewards on your next hotel stay by applying now.

Recommended: Marriott Bonvoy Business Credit Card Review & Comparison 

Corporate Cards to Consider

If you’re looking for a spend card mainly to help with expense management, and you’ve got some revenue to back your account, a corporate card might be a better choice at this point – especially if your LLC is brand new, and your credit hasn’t been established. 

Now, my favorite thing about modern corporate cards is that many of them offer cash back on spending (some more than others). So, with these cards, you have a chance to earn on transactions that you or your employees make. Cool, right? 

Here are the two cards I would recommend…I’ll explain why.  

Recommended: 7 Best Cash Back Corporate Credit Cards to Explore in 2024 

1. Bill Spend & Expense (Formerly Divvy)

business credit cards for new llc without personal guarantee

Bill Spend & Expense, formerly known as Divvy, comes with its own set of advantages and disadvantages. If you’re considering whether to take advantage of this offer, reflect on the following questions:

  • Is your monthly business spending more than $5K?
  • Does your business have multiple staff members with spending privileges?
  • Can you pay your expenses in full each month?

If you answered “yes” to these questions, the Bill Spend & Expense card could be an excellent fit for you. Now, to meet eligibility requirements, a business owner must have a minimum personal credit score of 580, and having a score of 640 or higher increases the chances of approval. Additionally, a higher annual revenue enhances the likelihood of approval.

I personally highly recommend checking it out, specifically for the tiered cashback rewards. Sign up on the Bill.com website to find out the credit line you may qualify for.

Recommended: In-Depth Divvy (BILL) Credit Card Review: Read This Before You Apply 

2. PEX Expense

startup business credit cards ein only

PEX is another solid corporate card with some cool features, making it a good pick for businesses and nonprofits looking to manage expenses smoothly. It’s got prepaid and dynamic credit cards, throws in 1% cash back, and has a handy app that fits different industry needs.

The user experience is made even better with seamless integrations, virtual/physical cards, and customizable controls, backed by PEX’s positive company vibe.

While PEX is a great choice, if you’re running a startup or an e-commerce gig, you might want to check out alternatives like Brex, Bill Expense, or Shopify Credit that could be more spot-on for your needs. Always a good move to weigh your priorities and compare a few options when it comes to any financial stuff.

Oh, and PEX cards are designed for businesses and organizations, and the cool part is you can get them without worrying about minimum funding requirements—they can even be issued inactive. Nice, right?

Recommended: The PEX Card: Is it the Best Corporate Card for Your Business? 

Best Loans for New Businesses

Now, if you’re looking for the funding aspect of a credit card, but you haven’t established business credit, you still have options. While your repayment terms aren’t ideal on most of the options available to you rig