Business Credit Cards Comparison

Manage your cash flow, save time on expense reports and enjoy perks such as points for your spending with a business credit card.

Business credit cards are designed to suit the financial needs of different types of companies, ranging from small startups to major corporations. These cards allow you to keep your business and personal expenses separate, assign cards to employees, manage your cash flow, track your finances and earn rewards. Just as with personal credit cards, there is a range of factors to consider before deciding if a business credit card is right for you. You can use this guide to compare business credit cards and learn more about the features and benefits available so that you can find an option that suits the needs and objectives of your business.

ANZ Business Black

$0 annual fee for
the first year
$0 rewards program fee for the first year

Offer ends 31 December 2017

Eligibility criteria, terms and conditions, fees and charges apply

Business Credit Card Offer

Benefit from uncapped rewards potential, interest-free days and $0 annual fees in the first year with the ANZ Business Black credit card.

  • $0 first year annual card fee and rewards program fee (reverts to $300 annual fee and $75 p.a. rewards program fee thereafter).
  • Earn 1.5 points per $1 spent on eligible domestic spend up to $10,000/statement period and 1 point per $1 spent thereafter.
  • Receive up to 55 days interest-free on purchases.
  • Get a range of complimentary insurance covers including overseas travel, and access to the 24/7 ANZ Global Business Concierge.
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Business Credit Cards Comparison

Rates last updated December 12th, 2017
Name Product Bonus Points Rewards Points per $ spent Complimentary Travel Insurance Annual fee Minimum Income Product Description
ANZ Business Black
1.5
Yes
$0 p.a. annual fee for the first year ($300 p.a. thereafter)
Offers premium features including uncapped rewards, travel benefits and tools to manage your business expenses. Plus a $0 first year annual fee.
Commonwealth Bank Business Low Rate Credit Card
$0 p.a.
Get $300 cashback when you spend $1,000 on eligible purchases within 90 days of card activation. Plus, an ongoing $0 annual fee.
NAB Rewards Business Signature Card
100,000 bonus points
1.25
No
$175 p.a.
Earn 100,000 bonus points when you spend $3,000 on everyday business purchases in the first 60 days of account opening.
Commonwealth Bank Business Gold Awards Credit Card
0.5
1
Yes
$150 p.a.
Earn up to 2 Awards points per $1 spent, receive an unsecured credit limit of up to $50,000 and up to 55 days interest-free on purchases.
American Express Gold Business Card
10,000 bonus points
1
Yes
$169 p.a.
$24,000
Take advantage of 10,000 bonus points, no pre-set spending limit, data that feeds to MYOB and up to 51 days interest-free on purchases.
American Express Platinum Business Card
120,000 bonus points
1
Yes
$1,500 p.a.
$75,000
Enjoy 120,000 bonus points, a platinum business concierge, complimentary Virgin Lounge access, worldwide travel insurance and hotel benefits.
Commonwealth Bank Business Interest-Free Days Credit Card
No
$60 p.a.
The flexibility of a Mastercard and an American Express, plus the ability to directly transfer your points to Qantas frequent flyer.
American Express Velocity Business Card
1
Yes
$249 p.a.
$24,000
Easily download expenses into business and account management software, plus receive two Virgin Australia lounge passes per year.
American Express Business Card
1
Yes
$109 p.a.
$24,000
Earn up to 1.00 Membership Rewards point per $1 spent and extend your cashflow with up to 51 interest-free days on purchases.
Commonwealth Bank Business Awards Platinum Credit Card
0.5
1
Yes
$300 p.a.
Earn up to 3 Awards points per $1 spent and receive complimentary travel and unauthorised transaction insurances.
American Express Business Explorer Credit Card
100,000 bonus points
2
Yes
$395 p.a.
$24,000
Earn 100,000 bonus points when you meet the spend criteria. Plus, 2 yearly entries to the American Express Lounge at Sydney International Airport.
Commonwealth Bank Business Awards Credit Card
0.5
1
Yes
$100 p.a.
A low fee business rewards credit card with up to 55 days interest-free on purchases and a $50,000 limit.
American Express Qantas Business Rewards Card
100,000 bonus points
1.25
Yes
$450 p.a.
$24,000
Earn up to 100,000 bonus points, 2 Qantas Points per $1 spent on eligible purchases and enjoy up to 51 days interest-free on purchases.
Caltex StarCard
20,000 bonus points
1
No
$35.40 p.a.
Minimise your monthly fuel expenses and collect Qantas Points on eligible business purchases.
Bankwest Low Rate Business Mastercard
No
$99 p.a.
Offers an introductory 0% p.a. interest rate on purchases for 12 months. Plus, add up to 3 additional cardholders for $0 on this low rate card.

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More business credit cards

What is a business credit card?

You can use a business credit card to free up cash flow by using a line of credit to pay for business expenses. They also usually come with perks including rewards programs, additional cardholders and expense reporting systems. Unlike a personal card, the company may be liable for the debt on a business credit card, not the individual.

Business credit cards vs. personal credit cards

Unlike personal credit cards, business credit cards are designed specifically for work spending and often include features such as additional cards for employees, customisable spending limits for different users and expense tracking. Some business credit cards may even have analytics tools designed to help with business reporting and budgeting. In most other ways, business credit cards are similar to personal credit cards. With either option, you'll get access to funds up to a certain limit and be able to pay off what you spend over time (with interest charges). Both personal and business credit cards also include costs in the form annual fees and interest rates, as well as extras such as rewards programs or complimentary insurance.

Who is responsible for the credit card? Personal vs. business credit card liability

Business credit cards can offer either personal liability or business liability for the account. This liability determines who is responsible for managing the card and can be an important factor when choosing a business option. We’ve outlined the key details of each below:

Personal liability credit cards

  • The primary cardholder is always responsible for managing the account.
  • You’re responsible for how much of the balance is paid off by the due date each month.
  • If a payment is late or missed, it’s you who the credit card company will contact.
  • If you choose to take personal responsibility for a business credit card, you can usually apply without needing to submit your business financials.
  • You will need to include details of your personal income, debts and assets, as well as your Australian Business Number (ABN).

Business liability credit cards

  • With business liability, it is the business entity that is responsible for managing the account.
  • If there is an issue with the account, the entire business will be held responsible, rather than one individual person that’s linked to the account.
  • It can be useful if you are a partner in a business.

What about business charge cards?

A charge card acts as a short-term (usually monthly) loan to a business for any purchases charged on the card. These cards defer payment until the end of the statement period, when you're required to pay off the account in full. Interest rates do not apply to charge cards as there is no revolving line of credit, but they often apply hefty late fees if you don’t pay the balance in full by the due date. Business charge cards are designed for organisations that have the financial stability to clear their balance each billing cycle, which will typically be between 25 and 51 days. If you are looking to borrow funds over a longer period of time, business credit cards may offer more flexibility. Despite these different account structures, charge cards do have many similar features to conventional credit cards, including expense tracking tools, supplementary cards, rewards programs and complimentary extras. As a result, they are often put in the same category as business credit cards. Find out about fuel cards

Types of business credit cards

Whether you're looking to keep your business' credit card costs low, want to earn rewards points as you spend or want to take advantage of interest-free days, there are business credit cards on the market to suit many different types of cardholders:

Rewards business credit cards

These cards reward you for paying with a credit card, usually offering reward or frequent flyer points for every $1 spent on eligible purchases. Unlike personal credit cards, a business credit card with rewards will let you earn points on your work spending. It's important to remember that these cards usually come with higher annual fees and interest rates, so you'll need to make sure that the value of the rewards will outweigh any costs. Some business credit cards also allow you to earn rewards points on utilities and government bills (including ATO payments), unlike most personal credit cards. For more information, you can check out our guide to earning reward points while paying your tax bill.

Frequent flyer business credit cards

This type of rewards business credit card is linked to an existing frequent flyer program, such as Qantas Frequent Flyer, Qantas Aquire (for businesses) or Virgin’s Velocity Frequent Flyer program. Some business frequent flyer credit cards allow you to directly earn frequent flyer points for every $1 spent on the account, while others let you transfer rewards points to a wide range of frequent flyer programs. These cards are suited to businesses that have existing ties to a frequent flyer program, or those that want to offer additional benefits to employees that use a supplementary credit card for business expenses.

Low rate business credit cards

These business credit cards have low standard variable interest rates for purchases and can give companies or sole traders a more affordable option if they need to pay off spending over a longer period of time. Some options, such as the Bankwest Low Rate Business Mastercard, even offer the same standard interest rate for purchases, cash advances and balance transfers. Many low rate business credit cards also have a low annual fee, which makes them popular for small businesses that need a cost-effective way to finance major expenses as they arise. They can also suit businesses that want a credit card on hand for any unexpected costs, or have seasonal and variable amounts of revenue.

Low fee business credit cards

Similar to low rate options, low fee business credit cards are designed for companies and sole traders that want affordable access to a line of credit. These cards generally have annual fees under $100, or may even offer no annual fee if certain requirements are met. For example, the ANZ Business Low Rate Visa credit card has a standard annual fee of $150, but waives this cost if your business spends more than $20,000 on the account annually. This type of feature can make having a business credit card more affordable.

Business credit cards with interest-free days

These credit cards offer businesses a competitive interest-free period for making purchases. A range of business credit cards offer an interest-free period (for example, “up to 55 days interest-free”) if you pay your balance in full by the statement due date. Depending on the card, they may include other features such as rewards, low fees or complimentary insurance. Other business credit cards with interest-free days may actually be classified as charge cards, with no interest rate or pre-set spending limit and a requirement to pay off the entire balance by the statement due date. Both of these types of interest-free options are suited to businesses looking for a short-term cash flow solution.

Corporate business credit cards

These credit cards are designed for larger businesses that want one account for business expenses. Corporate business credit cards may provide up to 99 supplementary cards (or more in some cases) and offer pre-set spending limits for each additional cardholder.

How to compare business credit cards

Comparing business credit cards side-by-side allows you to find an option that is suited to your business’s specific needs. Some of the core factors to compare when weighing up business credit cards include:

Business spending habits

comparing business credit cardIt’s important to choose a business credit card that matches your existing business spending. Business cards that offer a lot of “bells and whistles” may seem like an attractive offer, but not all offers will help maximise value while operating your business. Choosing a card should depend on the types of transactions your business undertakes. In credit card terms, this would include eligible purchases, capital expenses, additional cardholder spending and business travel needs. You can then match the types of transactions with the card features. For example, if your business uses a credit card for flights and regularly pays it off, a frequent flyer card might offer competitive value. On the other hand, if your business relies on the card for credit, a low rate, low fee or interest-free days business credit card might be the most affordable option.

Fees and charges

Business credit cards feature a range of fees and charges. Some of the most common include:

  • Annual fees. Business credit card annual fees can range from $0 to $700 (or more).
  • Supplementary cardholder annual fees. While some business credit cards offer additional cardholders at no extra cost, others may charge anywhere from $10 to $150 per annum.
  • Standard interest rates. Business credit card interest rates can be as low as 9.99% p.a. and as high as 22% p.a., with some cards charging the same rate for all transactions and others applying different rates depending on whether it is a purchase, cash advance or balance transfer.
  • Currency conversion fees. This charge is applied for transactions made overseas or in a foreign currency and is typically 3% to 3.5% of the transaction value.
  • Minimum required monthly payments. Business credit cards generally have minimum payments of 2% to 3% of the outstanding balance, unless they are charge cards that need to be paid in full for each statement cycle.
  • Overlimit fees. If you or an employee goes over the credit limit on the account, a fee of $10 to $30 may be applied.
  • Late payment fees. If you don’t make a payment on your business credit card, you may be charged a fee. This cost is usually around $10 to $30 but could be higher for some options, particularly charge cards.
  • Establishment fee. Some corporate credit cards may charge an establishment fee when your business applies and is approved for the account. This could be as much as $300, depending on the card.

Extra perks

  • Exclusive business rewards. Business credit cards can provide access to exclusive rewards benefits that are outside the scope of personal credit card users. Other rewards perks can include free delivery and express shipment.
  • Online business banking. Business credit cards usually give you all the access you would expect from banking online, such as 24/7 access to your account plus business security options such as encryption technology for peace of mind. Business applications may also allow mobile management so you can bank on-the-go with your business.
  • Complimentary insurance. Many business credit cards include complimentary travel insurance and liability insurance for the account.
  • Expense management systems. Keeping on top of business expenses and consolidating your credit card transactions can be difficult amongst the other million tasks involved in running a business. Expense management systems give you control and simplicity, providing an all-in-one solution for:
    • 24/7 monitoring, budget tracking by creating standard or custom reports, clear visibility of company spending and recognising patterns to better manage cycles in spending.
    • Multiple reporting formats including MYOB, Microsoft Excel, Word, PDF, HTML, XML, CSV and Tab-delimited.

Pros and cons of business credit cards

Pros

  • Potential tax deductions for claiming a business credit card or charge card annual fee
  • Simplified book-keeping/accounting process
  • Expense and cash flow management
  • Liability options
  • Security features
  • Customisable credit limits
  • Builds business credit
  • Additional cardholders
  • Complimentary extras specifically designed for businesses
  • Available and issued as either Amex, Visa, Mastercard or Diners Club card

Cons

  • Requires an excellent credit score
  • Personal liability options can expose you to legal issues
  • Expensive fees
  • Interest charges if you carry a balance
  • Can be hard to keep track of employee spending if you’re a small business
  • Limits spending to business expenses only

How to apply for a business credit card

If you’re interested in getting a business credit card, the first step is to compare a range of options to find one that is convenient and affordable for your business. Once you have found one, you can usually apply online. Before you apply for a credit card, you'll need to make sure that you meet the following eligibility requirements and have organised the necessary documents to complete the application:

Eligibility requirements

  • Age. You must be at least 18 years of age to apply for a business credit card in Australia.
  • Residential status. You'll usually need to be a citizen or permanent resident of Australia to apply. Make sure to confirm the card's specific residential status requirements before you apply.
  • ABN. You must have a valid ABN (Australian Business Number) to apply.
  • Credit score. You must have excellent credit history to apply for a business credit card.

Necessary documents and information

The other details you will be asked to provide vary depending on the card and whether you choose a business liability or personal liability option. But generally you will need to provide:

  • Contact details. Contact details for you and/or your business.
  • Proof of identification. A valid form of identification, such as your driver’s licence or passport.
  • Financial information. You'll need to provide information about your income and/or revenue as well as any assets and liabilities, including investments, debts and regular expenses.
  • Additional cardholders. If you wish to manage your employee's spending under the one account, you'll also need to provide the details of any supplementary cardholders.
  • Accountant's information. If you're self-employed, you may be required to include your accountant’s contact information.
  • Other documents. Supporting documentation such as personal tax statements, pay slips and BAS reports may also be required.

Once you have submitted your application, you should get a response within a few minutes. If you’re approved, you could have your card in as few as 5-10 business days (depending on the account and issuer). You can then activate the card, and start using it for your business. With expense tracking features, additional cards, interest free periods and reward options, credit cards can be a convenient option for both big and small businesses. Now that you know more about them, you can compare your options and find a product that suits your business’ needs.

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NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99
Woolworths Everyday Platinum Credit Card
Woolworths Everyday Platinum Credit Card

Interest rate

19.99

Annual fee

49
Virgin Money Low Rate Credit Card
Virgin Money Low Rate Credit Card

Interest rate

11.99

Annual fee

49

Credit Cards Comparison

Rates last updated December 12th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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