There are many different types of credit cards that offer different benefits. Some charge annual fees, while others don’t.
If you’re looking for a business credit card that doesn’t require an annual fee, here are some of the best options available.
Best No Annual Fee Business Credit Cardss
What Are No Annual Fee Business Credit Cards
The best no annual fee business credit cards have a number of benefits. They are easy to get, because they are not subject to an application process and there is no fee for getting one.
They also have very low fees and offer high rewards points.
Because of these benefits, many people use these types of cards as their primary method of payment when paying their bills and making purchases.
They do not have to worry about having any type of account open with the card companies, nor do they have to worry about paying any fees associated with opening or closing accounts.
What are the Best No Annual Fee Business Credit Cards?
Let’s take a look at the best no annual fee business credit cards.
1. Chase Ink Business Unlimited®
The Chase Ink Business Unlimited® credit card is a personal card, but it’s designed for small business owners and sole proprietors. That’s because it offers a generous sign-up bonus and rewards program that are ideal for professionals who want to earn points on their purchases, redeem them for cash back or travel, and transfer them to airline partners for additional value.
The card has no annual fee and no foreign transaction fees. It does have a $95 annual fee for business owners who don’t qualify for the $5 monthly statement credit, though that fee is waived the first year of membership.
Best for getting unlimited 1.5% cash back
The Chase Ink Business Unlimited® is a no-fee business credit card with a $500 bonus after you spend $3,000 on purchases in the first 3 months from account opening. The card has a few other perks, like 5X points on the first $25,000 spent on office supply stores and internet, cable and phone services each account anniversary year.
Another perk is that you can earn 1.5x points on all other purchases. Chase Ultimate Rewards® are worth up to 3 cents each when redeemed for travel through Chase’s travel portal or transferred to your preferred airline or hotel loyalty program.
Key Features
Chase Ink Business Unlimited® is a rewards card that offers a wide range of features. Here are some of the key features:
- Earn unlimited 1.5 points for every $1 you spend on all purchases, with no annual fee and no foreign transaction fees.
- Get 50% more value when you redeem for travel through Chase Ultimate Rewards®. For example, you can get 50,000 bonus points when you redeem through Chase Ultimate Rewards® for a travel purchase of $1500 or more.
- Earn 5 points per $1 on the first $50,000 spent on travel through Chase Ultimate Rewards®.
- Earn 5 points per $1 on the first $50,000 spent on shipping costs from UPS, FedEx Office and more.
- No limit to how many points you can earn and redeem for travel or cash back statement credits.
The Chase Ink Business Preferred card offers one of the most lucrative signup bonuses and up to 3 points per dollar on purchases.
2. Chase Ink Business Cash®
The Chase Ink Business Cash® card is a great option for businesses that need to make frequent purchases and pay them off in full each month. It offers a 0% introductory APR on purchases and balance transfers for 18 months, then a variable rate of 14.74% to 24.74%, based on creditworthiness.
There are no foreign transaction fees, and you can earn an unlimited 1% cash back rewards on every purchase, which means the more you spend, the higher your rewards rate is. The Chase Ink Business Cash® also comes with many extra perks that make it an attractive choice for small businesses:
You can earn up to $600 in statement credits each calendar year toward qualifying purchases made with your card at participating merchant locations. You won’t be charged interest if you pay off your balance in full by the due date each month which we highly recommend doing.
Best for giving you all the cashback rewards you want in business
The Chase Ink Business Cash® credit card is a great way to earn cash back on the purchases your business makes every day. This card offers a $500 bonus when you spend $3,000 in purchases within the first 3 months of account opening that’s a 50% rate of return!
The annual fee is waived for the first year, then $95 per year after that.
The card has no foreign transaction fees, which means you can use it anywhere in the world with no extra cost or hassle.
The bonus categories are:
- 5% cash back on office supplies purchased from select merchants and paid for by May 31st;
- 2% cash back at gas stations and restaurants; 2% cash back at office supply stores (on up to $25K per year). 1% on everything else; 1% on all mobile wallet purchases made by May 31st 2020.
Key Features
- $500 bonus for spending $3,000 in the first 3 months of opening a new account
- 2% cash back on all purchases
- No foreign transaction fees
The Chase Ink Business Cash credit card offers a $500 bonus after spending $3,000 in the first three months of opening an account. The card also offers 2% cash back on purchases made with your card, which is one of the best cash-back rates available right now.
There are no foreign transaction fees and there’s no annual fee.
The Chase Ink Business Preferred card offers one of the most lucrative signup bonuses and up to 3 points per dollar on purchases.
3. Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card can help you earn rewards for your business travel.
The card offers 2 points per $1 spent on travel, including gas stations and restaurants.
You’ll also earn 1 point per $1 spent on all other purchases. There’s no annual fee for the first year, then $95 annually thereafter.
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card is a great option if you’re looking for a travel rewards card with no annual fee.
- It has an annual fee of $0 for the first year, then $95
- It earns 2 points per dollar spent on travel (including gas stations and restaurants), 1 point per dollar spent elsewhere
- No foreign transaction fees
Best for making travel purchases a breeze
If you’re a frequent traveler and want to earn rewards on your business expenses, the Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card is a great option.
It offers more points than most other cards, so if you use it to pay for airfare, hotels and car rentals, you’ll rack up points quickly. And because it’s a Visa card, you can use it at any merchant that accepts those cards.
Travel rewards credit cards have become increasingly popular in recent years as more people seek ways to earn free travel without having to pay an annual fee or make a large deposit into an airline loyalty program.
With these cards, all you have to do is spend money on travel-related items whether that’s at the grocery store or at the airport and your points will add up fast. The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card has by far the best rewards rate among business credit cards: 2 points per $1 spent on all purchases (except for cash advances).
Key Features
- Earn up to 75,000 bonus points
- 0% intro APR on purchases for 12 months (then variable 14.90% – 23.90% APR)
- No annual fee
- Get 25% more cash back on travel purchases
- Get 50% more points when you use your card to book travel through Bank of America Travel Center or Global Travel Center
- No foreign transaction fees
The Bank of America Business Advantage Travel Rewards World Mastercard® is designed for business owners who have frequent travel expenses. It offers fixed-rate unlimited points on all purchases regardless of spending categories.
4. American Express Blue Business Cash Card
American Express Blue Business Cash Card is a credit card for businesses. It offers a $500 cash back bonus after spending $3,000 in the first three months.
The sign-up bonus is worth $500 because you earn 2% cash back on purchases at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) and 3% cash back on select U.S. streaming subscriptions; 1% cash back on all other purchases.
You can redeem your rewards as a statement credit or direct deposit into an eligible bank account (within 15 days of your monthly billing statement closing date). There’s no annual fee and no foreign transaction fees, so this card is good for business owners who use their credit cards abroad.
Best for a fast and easy business credit card approval process
The American Express Blue Business Cash Card is a great option for businesses looking to get approved for a business credit card with ease. It has no annual fee and offers 1% cash back on all purchases, up to $50 per quarter.
You can also earn 2% cash back on payments made with your card through the Merchant Customer Exchange (MCX) network which includes Walmart, Lowe’s and other big-box retailers.
Key Features
1. 2% cash back on all purchases, every day.
2. $250 introductory bonus cash back after you spend $3,000 in purchases within the first 3 months of account opening.
3. APR: 0% intro APR on purchases and balance transfers for 15 months (then 14.99%).
4. Annual Fee: No annual fee.
The American Express Business Blue Cash Card is a cash back rewards business credit card ideal for small business owners who spend equal to or not much more than $50,000 each year.
5. American Express Blue Business® Plus Credit Card
American Express Blue Business® Plus Credit Card is a great business card for rewards and cash back. It has no annual fee, no foreign transaction fee and offers 1x point for every $1 spent.
The card is designed for small businesses with a credit limit of up to $50,000. It comes with a 0% intro APR on purchases and balance transfers for 12 months, then 14.99% to 20.99% variable APR.
The American Express Blue Business® Plus Credit Card offers:
- No annual fee, no foreign transaction fee and 1x point per dollar spent (2x points on the first $50,000 spent each calendar year).
- 0% intro APR on purchases and balance transfers for 12 months, then 14.99% to 20.99% variable APR.
Best for getting a whole suite of tools to understand your finances
American Express Blue Business® Plus Credit Card. Best for getting a whole suite of tools to understand your finances.
The $95 annual fee on this card is worth it if you want to learn more about your spending habits and improve your credit score. Get a full suite of tools that help you understand your finances and how to manage them better.
If you’re looking at rewards cards, the Blue Business Plus Credit Card from American Express is one of the best options out there for small business owners. The card has no annual fee, which makes it easier to justify than the other Amex business cards, which have annual fees ranging from $95 to $450 per year.
You also get access to Amex’s Membership Rewards program, which lets you earn points that can be redeemed for gift cards, travel purchases or cash back at 1 cent per point in most cases that means if you spend $3,000 on the card in any given year (and use it solely for business expenses), then you’ll earn 3,000 points worth around $30 when redeemed through Membership Rewards.
The most valuable feature of this card, however, is its ability to help small businesses track their expenses and manage their budgets more effectively by providing them with useful financial tools and insights.
Key Features
- Unlimited 2X rewards on all purchases.
- Earn 50,000 Membership Rewards® points after you spend $5,000 in eligible net purchases on the card in your first 3 months of Card Membership.
- Earn 2X Membership Rewards points per $1 spent on up to $50,000 in combined purchases annually at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers (maximum of $100,000 in eligible purchases).
- Earn 1X Membership Rewards point for every dollar of eligible purchases charged to your Card everywhere else you charge it (maximum of $100,000 in eligible purchases).
Apply for the Blue Business Plus Card from American Express and earn 2x Membership Rewards® points on everyday business purchases up to $50K
6. U.S. Bank Triple Cash Rewards World Elite™ Mastercard®
The U.S. Bank Triple Cash Rewards World Elite™ Mastercard® offers 3% cash back on all purchases, 2% at grocery stores and wholesale clubs, and 1% back on all other purchases. You also get a bonus $150 after you spend $500 in the first 90 days of account opening.
It has no foreign transaction fees and an introductory APR of 0% on Purchases for 15 months, and then the ongoing APR of 14.99%-24.99% Variable APR; balance transfers are subject to a fee of either $5 or 5%, whichever is greater (minimum $10).
Best for getting unlimited rewards with no limits
This card has one of the most unique rewards programs we’ve seen, and it’s a good choice if you want to earn cash back on every purchase, without any limits or restrictions. The card offers 3% cash back on all purchases made within the first six months of account opening and 1.5% cash back after that (and two additional bonus categories).
The card also comes with a sign-up bonus: $150 after spending $500 in the first 90 days (worth up to $300 when redeemed through UFBank). That makes it easier to hit bonus categories where you’re earning 3% back, since you don’t have to spend as much money in those categories just get close enough and redeem your points for statement credit instead.
Key Features
- No annual fee.
- Earn unlimited 1.5% cash back on every purchase, 2% cash back at grocery stores and wholesale clubs, and 3% cash back on select business purchases.
- Redeem your cash rewards for a deposit into your bank account, a statement credit or gift cards. Plus, get a $100 bonus after you spend $500 in purchases within the first 90 days of account opening.
The U.S. Bank Business Platinum Card has a simple value position: It's got a great ... software subscription expenses such as FreshBooks or QuickBooks.
7. Spark 1.5% Cash Select
Spark 1.5% Cash Select.
With this option, you can earn a higher rate of interest by investing for longer periods of time. The Spark 1.5% Cash Select account is available from 30 days to 5 years and offers you a competitive rate of interest on your money if you invest for at least one year.
Spark 2% Cash Select.
This option is ideal for those who want to maximise their investment returns over the longer term. You can invest from 6 months up to 5 years and will earn a competitive rate of interest on your money if you invest for at least one year.
Spark 3% Cash Select.
The Spark 3% Cash Select account is ideal for those who want to maximise their investment returns over the long term with no restrictions on how much or how little they can invest per month or per quarter. You can choose from three different term lengths; 6 months, 12 months or 24 months.
Best for getting unlimited 1.5% rewards with no ceiling
Cashback is a prepaid card that earns cash back on purchases1 and can be used anywhere Visa debit cards are accepted.
The Spark Cash Select card offers cash rewards without any limits on how much you can earn and redeem each month2, making it an ideal choice for those who want to maximize their rewards potential. Earn unlimited 1.5% cash back on all your purchases3 and redeem whenever you want with no minimum redemption requirements or restrictions4.
The Spark Cash Select card also offers one of the lowest annual fees in the industry at $0 per year5, making it an ideal choice for those who want to maximize their rewards potential while keeping costs low.
Key Features
– $0 account minimum balance requirement
– No monthly service fee
– Unlimited check writing
– Overdraft protection available
– Free Online Banking, Mobile Banking and Bill Pay
– Free eStatements
– Free Mobile Banking, Free Online Bill Pay, Free Mobile Deposit
The Spark 1.5% Cash Select is a new Australian home loan from the Commonwealth Bank of Australia (CBA).
The CBA has been offering fixed-rate loans for several years now, but this is the first time that it has offered a variable rate loan.
The term of the loan is 25 years, with no offset or redraw facility available.
Key features and benefits include:
- 1.5% cash back for up to $250,000 of principal repayments made during the life of the loan.
- No application fee or ongoing monthly account fees.
The Capital One Spark Cash Select for Business card is a cash back rewards business credit card. The card earns 1.5% cash back on all purchases.
What Are No Annual Fee Business Credit Cards?
There are several types of business credit cards, including rewards, cash back and no annual fee. The latter is the most popular option for those who want to keep their expenses low. These cards can be used just like any other card and are a good choice when you need a quick way to make a purchase.
What Are the Advantages of No Annual Fee Business Credit Cards?
The main advantage of using no annual fee business credit cards is that they don’t cost anything to use. This can be especially beneficial if you’re just starting out as a small business owner or if you’re trying to build up your credit score.
You’ll also have access to more benefits than with a traditional debit card or checking account. For example, there are some cards that offer free travel insurance and others with special merchant discounts for businesses that sell certain products or services.
What Are the Disadvantages of No Annual Fee Business Credit Cards?
While no annual fee business credit cards can provide some benefits over other types of plastic, they often come with less flexibility than rewards or cash back cards do. Many people prefer these because they allow them to earn points or miles toward future travel purchases.
What are the benefits of having a credit card with no annual fee?
Credit cards with no annual fee are a great way to start building and improving your credit score. These cards are often the first step in your financial journey, and they can help you build up your credit history if you use them responsibly.
Here are some of the benefits of having a credit card with no annual fee:
- You can build your credit without paying an annual fee. When you get a card with no annual fee, there’s no extra charge to use it.
- You’ll also get access to a line of credit that can be used for anything from buying groceries to booking travel. And since these cards provide a way for you to learn how to manage your finances responsibly, they’re good for anyone who needs some guidance.
- They’re also ideal for people who don’t want to take on more spending than they can handle. You may be able to get rewards on purchases without paying an annual fee.
- Some rewards credit cards offer cash back or points that can be redeemed for travel or other perks if they’re used responsibly and paid off each month on time (meaning, within three months).
- These rewards can include free flights or hotel stays as well as cash back on every purchase made with the card. However, these types of rewards usually require an annual
1. They allow you to pay off purchases over time
What are the benefits of having a credit card with no annual fee? They allow you to pay off purchases over time.
Using your credit card to make a purchase and then paying it off in full each month is one of the simplest ways to build up your credit history.
Making small charges and paying them off on time is a great way to build up your credit score, which is why having a no-annual-fee card can be beneficial if you want to use it responsibly.
If you don’t have any money saved up and need to make a big purchase, some cards allow you to finance it over time instead of paying cash right away. This can help you save money if you’re buying something expensive like a car or going on vacation.
And some rewards cards also offer balance transfers at low interest rates so that they’re easier to pay off over time. Having no annual fee means that you won’t have any extra costs associated with owning the card, making it even more affordable than most other options out there.
You’ll also be able to take advantage of all the other benefits that come with owning a credit card without worrying about paying extra fees every month or year.
2. They make sure you get rewards for spending money
Credit cards with no annual fee are a great way to get started with credit. They’re also a good option for people who don’t want to pay a fee each year just so they can carry a balance on the card.
What are the benefits of having a credit card with no annual fee?
They make sure you get rewards for spending money. If you’re not paying an annual fee, your credit card issuer has to make money somewhere else.
That’s usually through interest rates and other fees charged to you every month. To be fair, some of these cards have reasonable interest rates and fees but others can be pretty high.
So if you want to save money on interest by getting rid of an annual fee, you’ll probably have to take out another account that charges higher rates and fees anyway.
They give you an opportunity to build up your credit history and score without paying an annual fee They can help build up your credit history. Some people may also want to use their no-fee cards as supplementary forms of payment for things like gas or groceries because it helps them improve their overall credit score.
This can be especially helpful for those who don’t have enough assets or income (or both) to qualify for other types of loans.
3. They have protection features in place
Credit cards with no annual fee are great because they don’t cost you anything to use. They also have some protection features in place.
The main benefit is that there’s no annual fee. This means that you don’t have to pay a yearly fee just for having a credit card.
You can use them as much as you want without worrying about paying money each month or year. Some credit cards will offer other benefits to make up for not charging an annual fee, such as giving cash back rewards or having better interest rates than other cards.
If you’re looking for rewards, it’s important to check how much cash back your card offers and how easy it is to redeem those rewards before getting one with no annual fee.
4. They’re great for business owners that have to travel
Credit cards with no annual fee are a great option for people who have to travel frequently. This is because they don’t have to worry about paying an extra fee every year.
If you use your card to book flights, hotels and rental cars, then you can save quite a bit of money by using one of these types of cards. The benefit is even greater if you use the card often for other purchases as well.
They’re great for business owners that have to travel frequently because they don’t have to worry about paying an extra fee every year.
This allows them to focus on other aspects of their business without worrying about having extra costs associated with using their credit card. They’re great for people who want more rewards points or cash back on purchases they make regularly.
People who want more rewards points or cash back on purchases they make regularly should consider getting a credit card with no annual fee. This way, they can earn points or cash back on everything they buy throughout the year without having any additional costs associated.
Requirements to qualify for no annual fee business credit cards
The following are some of the requirements you may have to meet in order to be eligible for a no annual fee business credit card:
You must have a good credit score. This is usually at least a score of 650, but it varies from one issuer to another.
Some banks may even accept applicants with scores below 650 if they can show that they have been responsible with their credit in the past. You must be an established business or company with a history of at least 12 months.
You should also be able to demonstrate that you have a legitimate business, whether through proof of incorporation documents or by showing that you’re registered as a sole proprietorship or a corporation.
Your business needs to be located in the country where the bank operates; some banks don’t allow international applicants at all while others allow only certain countries such as Europe or North America.
1. You should be the primary contact
The criteria to qualify for no annual fee business credit cards are not very different from those of personal credit cards. You will need to meet the following requirements:
You should be the primary contact. A business card is issued in your name, so it is important that you are the primary contact on the account.
You should have a good credit history. This refers to your payment history and credit utilization ratio.
The latter indicates how much of your available credit you use during a billing cycle. For example, if you have a $10,000 limit and use $5,000 during one month but make full payments on time, then your credit utilization ratio will be 50%.
On the other hand, if you borrow $5,000 but pay only half of it back before the due date, it means that your usage ratio is 100%! Lenders want their customers to manage their finances responsibly and pay off their debts on time.
This is why they pay close attention to customers’ payment histories when considering them for new lines of credit.
You should have an income source that allows you to pay off your obligations promptly and maintain a good payment history over time. Having enough income helps lenders feel secure about extending credit lines to individuals with less-than-perfect scores.
2. Your company should have been open for at least 6 months
Depending on your business’s creditworthiness, you may be able to qualify for no annual fee business credit cards. However, the credit cards with no annual fee will usually have higher interest rates and less valuable rewards than other cards.
The answer to this question depends on your company’s creditworthiness. If your business has a good track record and is likely to pay its bills on time, then you should qualify for a free card.
Requirements to qualify for no annual fee business credit cards Your company should have been open for at least 6 months. This is because some issuers will only consider applicants who have been in business for at least that long.
You need to meet the minimum monthly sales volume requirement of $1,500 in order to qualify for most free business credit cards. This amount can vary based on the specific issuer; check their website for details.
You’ll need a personal guarantee from an officer or owner of the company if your company doesn’t meet the minimum sales volume requirement or isn’t yet established enough to receive an approval.
3 . Your credit score is good
You have a business with a positive cash flow. You’re willing to go for a secured card instead of an unsecured one.
Your business has been in operation for at least three years. If you want to apply for a business credit card, it’s important to know that there are some requirements you must meet first. Here’s what you need to qualify for no annual fee business credit cards:
Your credit score is good. The vast majority of business cards require excellent credit scores and high income levels. If your score falls below 700 and you don’t make at least $50,000 per year, you may not qualify for these cards.
Your business has been in operation for at least three years. Most banks will only consider applicants who’ve had their businesses open at least three years; otherwise, they believe there’s too much risk involved in issuing a line of credit to someone who doesn’t have an established track record yet.
4. You can verify your identity with the bank
Requirements to qualify for no annual fee business credit cards You can verify your identity with the bank. The bank will verify that you are who you say you are. You may be required to provide a photo ID and other documentation.
If you’re starting a new business, they may want to see an EIN (Employer Identification Number) number. If your company has been in business for at least one year, you’ll likely qualify for better terms if you have an EIN number.
You may need to submit proof of income and documents showing your business structure (such as incorporation paperwork). Your income must come from sources other than personal loans or credit cards.
5 . You need several employees
Business credit cards are a great way to build your business credit, but they can be difficult to qualify for. If you’re an entrepreneur or small business owner, there are some things you need to know before applying for a card.
Here are the most important requirements to look out for when applying for business credit cards:
You need several employees. In order to qualify for a no annual fee business credit card, you will need at least two employees working at the company. This means that if you are a sole proprietor and only work by yourself, you will not be eligible for this type of card.
You have been in business for at least one year. The average time it takes for someone to be approved for a no annual fee business credit card is around 90 days, so make sure your company has been around long enough before applying for one.
If you don’t have any history yet, try getting another type of small business loan first (like an SBA loan) and wait until after that has completed before applying for a no annual fee business credit card.
No Annual Fee Business Credit Cards FAQ
Here are some of the most common questions we get about no annual fee business credit cards:
Do I have to have a business to be eligible?
You don’t need to have a business, but you do need to have another source of income. You can also apply for these cards if you’re self-employed or freelance.
You’ll need a W-2 form or 1099 as proof of income.
Are there any applications that will deny me because I have too many open accounts?
Most credit card companies won’t deny you solely because you have too many open accounts, but they may look at your overall credit history and decide that they would rather not give you a card with such high limits.If this is the case, it’s better to wait until your credit score improves before applying again for one of these cards.
How do I know if my business qualifies for a no annual fee business credit card?
The best way to find out is by applying with the issuer directly and seeing what they say about your eligibility.
Why are no annual fee card offers great?
No annual fee business cards are ideal for most small businesses. If you don’t use your card often and don’t have a high credit limit, then paying $25 or more per year just to have a card isn’t worth it.
For example, if you only use your card once or twice per year and your balance is less than $2,000, then the annual fee will cost more than the interest paid on the card.
You should get no annual fee business cards if:
- You don’t plan on using the card often (less than 3 times per year).
- Your balance is typically less than $2,000 when you close out your statement each month.
- You don’t plan on keeping a balance for long periods of time (only keep it open as long as you need it).
What are billing cycles and why are they important to consider?
There are two key things to consider when you’re looking for a business credit card: billing cycles and interest rates.
Billing Cycles
Billing cycles are the number of days you have between when you make a purchase on your card and when that purchase is charged to your account. Most cards offer a 30-day billing cycle, but some offer shorter or longer ones.
The shorter the billing cycle, the sooner you’ll pay off your balance and move on with life (and avoid interest charges). So if you can get a card with a shorter billing cycle, it’s probably worth it but not if it means paying an annual fee or other fees.
Interest Rates
Interest rates vary quite a bit from card to card and from bank to bank. Business credit cards typically have higher interest rates than personal cards because businesses tend to charge larger amounts than individuals do, so banks assume they might not be able to pay those larger balances off in time.
What are some qualifying factors for a business credit card?
What are some qualifying factors for a business credit card?
Lenders look at your business’s income, the type of industry you’re in, and your personal credit history when determining whether or not you qualify for a business credit card.
If you don’t own a business but need to charge expenses, consider applying for a personal credit card instead.
How do I know if my business qualifies for a no annual fee business card?
The best way to find out if your company qualifies is to apply online or call up one of the issuers listed below.
You may also be able to get approved with a lower limit than what is listed above by calling the customer service number on the issuer’s website.
What types of businesses qualify for no annual fee business cards?
Most types of businesses can qualify for no annual fee business cards if they meet certain criteria (see above).
However, some specific industries such as telecom companies are excluded from some offers due to their high risk factor (i.e., they have high delinquency rates).
What are bonus categories when dealing with a business platinum card?
The Discover it® Business Cash Back is one of our favorite business credit cards. It comes with a generous 5% cash back on up to $50,000 in combined purchases per quarter in categories that change every three months and 1% on everything else.
Plus, Discover will match all the cash back you earn at the end of your first year.
The Chase Ink Business Preferred℠ Credit Card is a great choice for small businesses because of its high rewards rate and flexible redemption options.
You’ll earn 3 points per dollar spent on travel, shipping purchases, internet and cable services and phone services; 2 points per dollar spent on office supply stores; and 1 point per dollar spent on everything else.
The sign-up bonus is 80,000 points after spending $5,000 in the first three months that’s worth $1,000 toward travel when redeemed through Chase Ultimate Rewards®.
Does credit history affect no annual fee business credit cards?
No, the issuer doesn’t look at your personal credit history. As long as you have a business and can provide the necessary documentation, you’ll be approved.
Can I apply for multiple cards at once?
Yes. If you have more than one business or are looking to get multiple cards for one business, feel free to apply for all cards at once. The same goes for family members who want to apply for a card together just make sure that all co-applicants are listed on the application as co-signers, not joint account holders.
Are there any fees associated with these cards?
No, there are no activation fees, late payment fees or annual fees associated with these cards. However, some issuers may charge an annual APR of between 13% and 19%. You should check with the issuer before applying so that there aren’t any surprises after your credit card arrives in the mail!
Can you get a cash advance with a no annual fee business credit card?
No, cash advances are not available with any of the cards in this roundup.
Can I cancel my card before the end of the introductory period?
Yes, you can cancel your card at any time without penalty. However, if you have not paid off your balance in full and on time for three consecutive months, we reserve the right to change or cancel your account.
What are the fees associated with these cards?
There are no annual fees for these cards. There may be a foreign transaction fee on some of these cards and other fees may apply depending on how you use your card.
Check out each card’s individual terms and conditions for more information on fees and charges.
Does warranty protection come with no annual fee business credit cards?
No annual fee business credit cards offer a number of benefits. If you’re looking to get a new card, you may be wondering whether or not the no annual fee business credit cards have warranty protection.
Does warranty protection come with no annual fee business credit cards?
No. Warranty protection is usually only included in the premium cards that have an annual fee attached to them. If you are looking for this type of coverage, you will need to pay an extra fee every year to receive it.
Best No Annual Fee Business Credit Cards Wrap Up
The best no annual fee business credit cards offer a lot of benefits, including zero liability and zero fraud liability, so you’re protected from having to pay any fees.
These cards also come with other perks like discounts on service fees and rewards programs.
If you’re looking for a no-fee business credit card that offers some of the same perks as an airline frequent flier program, this list will help you find one.
These cards have been tested by our panel of experts who’ve used them in their own businesses.
