It wasn’t that long ago that it seemed completely revolutionary to offer corporate cards and expense management solutions for free. Traditionally, setups like this came with hefty annual fees, and the main benefit was expense tracking. With the absurdly quick technology evolution of recent years, the corporate cards entering the market have started to deliver impressive discounts and rewards.
But, what are the best cash back corporate credit cards on the market?
While there are surely some newbies that I don’t know about, I’ve explored most of the major options, selected my favorite, and even listened to my colleagues’ and business credit coaching students’ experience with many corporate card offers. Here, I lay out the corporate cards that I like the most.
This is what’s in store:
- What is a Cash Back Corporate Credit Card?
- The Best Cash Back Corporate Credit Cards
- Frequently Asked Questions
- Final Thoughts: Which Corporate Card Should You Choose?
Now, let’s dig in!
What is a Cash Back Corporate Credit Card?
A cash back corporate credit card is a type of spending/expense management card specifically designed for businesses – this kind of card allows companies to earn a percentage of their spending back in the form of cash rebates or rewards.
Corporate cards are not, by definition, credit cards. The key differences are that credit cards carry a revolving balance while corporate cards are paid in full daily, weekly, or monthly.
The cash back on a corporate card typically comes as a percentage of the total purchases made using the card and is usually credited to the account or provided as a check or statement credit. Not all corporate cards offer cash back.
Cash back corporate cards come with benefits, including:
- Cash back rewards
- Categories and bonuses
- Various redemption options
- Expense tracking
- Employee cards
As you explore your options, it’s a good idea to carefully review the terms and conditions of any offer, including interest rates, fees, and any limitations on rewards. The benefits of a particular card will depend on your business spending patterns and financial needs.
The Best Cash Back Corporate Credit Cards
Now, let’s explore some of the best cash back corporate cards currently on the market. We’ll look at the qualification requirements, perks and cash back rewards, and the
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1. Bill Spend & Expense
To qualify for a Bill Spend & Expense card (formerly Divvy), you need at least $20,000 in an active U.S. bank account, a “good” to “very good” credit score, and your business must be based in the United States. Revenue and time in business requirements vary among applicants.
Bill’s cash back rewards are structured into three tiers based on payment frequency.
Weekly rewards include:
- 7X on restaurants
- 5X on hotels
- 2X on recurring software subscriptions
- 1.5X on everything else
Semi-monthly rewards offer:
- 4X on restaurants
- 3X on hotels
- 1.75X on recurring software subscriptions
- 1X on everything else
Monthly rewards comprise:
- 2X on restaurants
- 2X on hotels
- 1.5X on recurring software subscriptions
- 1X on everything else
These points can be redeemed for Divvy travel, gift cards, a statement credit, or cash back – And, exclusive partner discounts further enhance the reward program.
A standout feature of Divvy is its unique credit limit determination; the system analyzes your business’s cash flow and offers a credit limit of approximately 30% of your monthly revenue. Initial lower limits may increase with consistent on-time payments.
2. Stripe Corporate
To qualify for the Stripe Corporate Card, you must be an existing Stripe Payments user and maintain a high volume of sales processed through the payment gateway. You can request an invitation on the company website if you already use Stripe for business.
The Stripe Corporate Card offers a compelling cashback program. Cardholders pay 0% interest and zero fees, including late fees, annual fees, and foreign transaction fees.
With $5,000 in spending, you can access $50,000 in free transactions on the platform. Additionally, cardholders earn 2% cash back on spending in their top two categories, automatically credited to their monthly bill.
The Stripe Corporate Card runs on an invitation-only model. YOu can upload your logo to create a branded credit card within minutes. The card is available in both virtual and physical forms, with virtual cards accessible instantly and physical cards arriving within a few days.
Moreover, Stripe Issuing enables users to originate their own credit cards to offer to customers, providing a unique customization option.
To qualify for the Brex Card, you must have a US-based business with an Employer Identification Number (EIN), a business bank account, and verify your identity through government-issued ID photos. While the specific financial criteria are not explicitly stated, anecdotal evidence suggests maintaining $50,000 to $100,000 in the bank at all times may increase your odds of qualifying.
The Brex Card offers an impressive cash back rewards program, making it a lucrative choice for tech, life sciences, and eCommerce businesses. Cardholders can earn up to 30,000 introductory bonus points by linking their Brex credit card account to Brex Cash and spending $3,000 in the first three months.
The rewards structure includes:
- 8X points on rideshare apps
- 5X points with Brex travel partners
- 4X on dining at restaurants
- 3X on recurring software subscriptions (Brex Cash)
- 1X on all other expenses
The Brex Card requires no personal guarantee and no annual fees, interest, or other costs. This is particularly advantageous for businesses in tech, life sciences, and eCommerce, as it allows them to access credit without relying on personal credit scores.
Additionally, the built-in, real-time expense tracking tools streamline financial management, and the card provides exclusive partner perks with companies like AWS, Slack, and Google Ads, potentially offering up to $150,000 in savings.
Ramp Corporate Credit Card eligibility is not explicitly detailed, but the application process involves no credit checks or founder guarantees. While transparency is limited, factors such as the number of employees, average monthly card spending, and maintaining over $250,000 in the business account seem to influence underwriting decisions.
Ramp offers a compelling rewards program, featuring unlimited staff cards with customizable spending limits. The card stands out by providing 1.5% cash back on all spending, without imposing foreign transaction fees, late fees, interest fees, annual fees, or costs per card.
This straightforward cash back structure allows businesses to earn rewards across various spending categories, making it a versatile choice.
Businesses can issue unlimited staff cards, each with individual spending limits. The card’s algorithm actively identifies potential savings opportunities, such as duplicate subscriptions or lower pricing plans with software vendors.
Plus, Ramp distinguishes itself by offering $175,000 in partner rewards (competitive with Brex). Cardholders can leverage exclusive offers from Ramp’s partners, potentially saving substantial amounts on services and subscriptions.
While specific qualification criteria for the Expensify Card are not advertised, you’ll definitely need an active Expensify account to access the card. Users interested in obtaining the card should initiate the request within the Expensify platform. The application process typically involves navigating through account settings or the designated card management section.
The Expensify Card offers a straightforward cash back rewards structure, providing users with the opportunity to earn up to 2% cash back on their purchases.
This rewards system comprises two components:
- 1% cash back on every swipe
- Additional 1% cash back for monthly spending above $250,000
This cash back feature allows businesses to accumulate tangible benefits as they manage and optimize their expenses, providing financial incentives for their spending activities.
One notable feature of the Expensify Card is its seamless integration with the Expensify app, which enables real-time transaction syncing. This integration ensures that transactions made with the Expensify Card are immediately and reliably imported into the Expensify app.
6. Shopify Credit
Shopify Credit offers a straightforward application process with eligibility based on eCommerce performance rather than credit scores. Only sellers on the Shopify platform can use this card.
And, to qualify, merchants typically need:
- A Shopify Payments account with a single owner
- A bank account connected to the Shopify Payments account
- A valid United States Social Security number
- A business located in the United States or Puerto Rico
Shopify may extend offers to eligible merchants, and decisions are often made within minutes.
Shopify Credit provides cashback rewards as a notable feature of its offering. Users can earn rewards customized to their business spending in three approved categories:
- 3% cash back on top spending category
- 1% cash back on other two categories
It’s important to note that to qualify for cashback rewards, users must use the Shopify Credit card for spending with Shopify’s partners in the specified categories, including marketing and advertising, shipping and fulfillment, and wholesale.
Shopify Credit has a fee-free structure, which ensures that merchants can manage their business finances without incurring additional charges (as long as they keep paying responsibly). The card comes with no annual fees, no foreign transaction fees, and no setup fees. This transparent fee structure aligns with Shopify Credit’s focus on simplicity and aims to keep more money in the business.
7. Emburse Spend
Emburse Spend offers a versatile spend management solution suitable for businesses of different sizes. To leverage Emburse Spend, businesses need to use the accounting platform or some aspect of it. The platform is priced according to company size and features enabled. You’ll need to reach out to Emburse for a quote.
Emburse Spend offers a flat, 1% cashback on eligible purchases. This straightforward cashback structure provides businesses with a consistent reward on their spending.
A standout feature of Emburse Spend is its automated reconciliation process. By capturing expense details at the point of transaction for immediate reconciliation, businesses can streamline their accounting processes – This not only reduces the burden on accounting teams and employees but also ensures expense management accuracy and efficiency.
Frequently Asked Questions
Does a corporate card hurt your credit score?
In most cases, corporate cards are not reported to personal credit bureaus, so your personal credit score is not directly impacted by corporate card usage or payment behavior. But, some corporate cards may require a personal guarantee, which would mean the business owner is personally liable and late payments would be reported.
Do corporate cards get cash back?
Corporate cards may offer rewards, but cash back is rare. Rewards on traditional corporate cards often come in the form of travel perks, expense management tools, or points for business-related expenses. But, cards like those listed here are diamonds in the rough,
Are cash back cards worth it?
The worth of a cash back card depends on your spending habits and preferences. If you frequently make business-related purchases, a cash back card can provide tangible benefits, putting money back into your business with each transaction.
What are the disadvantages of cash back credit cards?
Disadvantages of cash back credit cards may include high-interest rates if balances are not paid in full, potential annual fees, and limitations on cash back categories. It’s crucial to weigh the benefits against the associated costs and understand the difference between business credit and corporate cards.
What is the best cash back card for business?
Can I get a credit card with an EIN?
Yes, you can apply for a business credit card using your Employer Identification Number (EIN). Business credit cards help separate personal and business expenses, and the application process typically considers the business’s creditworthiness rather than personal credit history. It’s rare, but you can get credit cards with just an EIN.
Final Thoughts: Which Corporate Card Should You Choose?
If you’re selling with Shopify or Stripe, look into their branded cards. If you already use Emburse (or you’re in the market for new accounting software, you may want to check out Emburse Spend (though all of these corporate cards come with varying expense management features) . If your revenue is high or you’re looking for savings on tech spend, look into Brex.
I don’t like to play favorites, but my favorite cashback corporate credit card overall is Bill Spend & Expense. The bottom line, though, is that the best card for you is going to depend on what you can qualify for, how you spend, and what features you need and want – I like all of these cards for different business scenarios.
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