Business credit cards offer rewards in much the same way that consumer cards do. What are the best rewards for business credit cards? If you "play your cards" right, you can tap into ongoing rewards and features that align with your business goals. Here are some tips to help you get the most out of your business card rewards.
Do business credit cards have rewards?
Many business credit cards use rewards to attract and retain clients. Some business cards offer upfront rewards as an account opening bonus, though you can also earn rewards by making eligible business purchases. These benefits can include cash rewards or the chance to earn points toward travel expenses or business-related categories. Some also offer free employee cards that also earn rewards.
What rewards are usually given with business credit cards?
What are some of the best rewards for business credit cards? Reward categories vary, but some of the best business credit card rewards include one or more of the following.
Account opening rewards
Some cards may offer a welcome bonus or additional rewards on purchases in the first few months. Cardholders will have to meet certain spending requirements, but these rewards can offer hundreds of dollars in cash and other rewards.
Cash rewards
Some business credit cards offer a flat cash back rate (e.g., 1.5% on all purchases), though you may also be eligible for bonus categories when you use the card at participating gas stations or office supply stores.
Travel rewards
Other credit cards offer rewards aimed at business travelers. Eligible purchases can earn you points that you can later cash in for things like airfare, hotel accommodations, and other perks. Some credit cards are co-branded for specific airlines or hotels, meaning you'll cash in your points for those specific companies.
Flexible rewards
Your credit card rewards program may allow users to redeem points for cash, travel perks, gift cards, or even certain forms of merchandise. These flexible perks may be ideal for business owners who make frequent credit card purchases and can benefit from a wider range of perks.
How can you get the most out of your business credit card rewards?
There’s a certain art to making your credit card rewards work for you. Here’s how to maximize your benefits.
1. Pick the right card for your business
Just like regular consumer credit cards, some business credit cards are going to be better suited to you and your company than others. Getting the most out of your rewards starts with choosing the right card. For example, if you have a major business purchase coming up, a card with a 0% intro APR may be a good choice.
Many people make the mistake of writing off any card with an annual fee. Before you do this, look closely to see the total value of the rewards you’re likely to earn each year. The best rewards cards will usually more than pay for their own yearly fees.
2. Use rewards to reinvest in your business
Business credit cards provide a path to reinvest in your business. Here are some of the ways you can leverage rewards to empower your business.
3. Use the card for everything you can
If your business credit card generates rewards that can grow your business, make a point of using it for every possible purchase. This is especially important if your card gives you cash back on everything. Of course, you should always make sure you pay down the balance. Consistent rewards are great for your company, but consistently high card balances aren’t.
4. Stack cards for maximum benefits
Sometimes, you can get the best of both worlds when you take out multiple credit cards and use them for different purchases. For example, you might open one credit card because it offers cash back on your software subscriptions and another because it brings a big sign-on bonus.
5. Time your redemptions right
When you know how to be savvy both when choosing business credit cards and redeeming the rewards you earn, your business will thank you. Some cards run promotions where you can redeem points for double their value.
6. Track your rewards
Many of the best business credit cards offer you multiple kinds of rewards. That’s a good thing — unless you let them expire. Many card issuers give you access to a rewards dashboard, but if you have multiple rewards cards, try getting a third-party reward tracking app to keep from missing out.
7. Don’t forget to register for offers
Some business credit cards let you earn additional points or cash back when you shop with specific partners. Others have limited-time promotions where you can save money or earn additional rewards when you make a purchase with a particular business.
In either case, you typically have to register or opt in before making the purchase. Keep an eye on your dashboard for any new offers that arise. Additionally, following the card issuer on social media can be a great way to get information on new and upcoming promotions.
Consider alternative solutions to business credit cards
Business credit cards aren't the only way to manage your finances and small business online banking. With BILL Spend & Expense, you gain access to rewards without having to pay an annual fee. Artemis Health reports that “BILL Spend & Expense ... has streamlined our credit card process and helped us close our books quicker by staying on top of transactions during the month. Additionally, with BILL Spend & Expense, we can track our company’s credit card spend in one place — for free.”
This makes BILL Spend & Expense an ideal solution for businesses looking for a low-cost way to access rewards while tracking their expenses.
Maximize rewards with BILL Spend & Expense
Before you start using any credit card, you should thoroughly understand the rewards it offers you. After all, you wouldn’t want to miss out. BILL Spend & Expense provides a collection of rewards and benefits that help you keep more cash in your pocket:
- Earn as you spend: Get reward points on every dollar you spend.
- Uncapped earnings: Points are unlimited and never expire.
- Points for paying your balance: Earn up to 7x more points when you frequently pay down your balance.
- Weekly point multipliers: Earn 7x on restaurants, 5x on hotels, 2x on recurring software subscriptions, and 1.5x on everything else.
- Semi-monthly point multipliers: Earn 4x on restaurants, 3x on hotels, 1.75x on recurring software subscriptions, and 1x on everything else.
- Monthly point multipliers: Earn 2x on restaurants, 2x on hotels, 1.5x on recurring software subscriptions, and 1x on everything else.
- Flexible redemption: Redeem points as cash, gift cards, statement credits, or travel perks.
- No fees: No initiation, annual, monthly, or hidden fees.
- Keep track of everything: Your online account lets you manage both your spending and rewards.
For more information about our rewards program, click here.
BILL Spend & Expense also makes it easy to keep an eye on your account wherever you are — you can access your dashboard on your desktop or through the mobile app.
Business credit card rewards FAQ
How can I maximize business credit card points?
Choose a card issuer that offers free employee cards. That way, you'll have more cards in use to rack up reward points.
What is the best rewards credit card for business?
The "best" business credit card is one that aligns with your business goals. Compare card issuers that offer low fees while still providing access to key rewards.
Do employee cards earn rewards?
Many card issuers allow you to earn reward points on employee credit cards. Make sure to check with your credit card provider for details and restrictions.
