
- Min. $75K revenue
- $149 annual fee
- Ends 05 October 2022
- Min. $75K revenue
- $149 annual fee
- Ends 05 October 2022
Scan to download the Finder app on iOS or Android
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Business credit cards allow you to free up cash flow by using a line of credit to buy what you need for your business. These cards usually come with other perks including rewards programs, multiple cardholders and expense-reporting systems.
Unlike a personal card, the company can be held liable for the debt on a business credit card instead of the individual.
Similar to personal credit cards, business credit cards give you access to money up to the credit limit, and allow you to pay off your expenses over time (usually with interest charges). But business credit cards also offer features to help manage work-related spending and financial tasks, including additional cards for employees, expense-tracking tools and even virtual expense management cards in some cases.
Some business credit cards include perks such as rewards, complimentary insurance or airport lounge passes. They also usually charge an annual fee, either for the whole account or for each cardholder linked to the account.
Business charge cards are similar to credit cards in that they give you access to credit for a set time before you need to repay what you've spent. Some charge cards also offer no pre-set spending limit, which can give you more cash flow compared to a credit card with a fixed credit limit.
But with a charge card, you need to pay the full balance by the due date on each statement. The billing cycle is typically between 25 and 51 days and, while there are no interest rates, you could pay a hefty fee if you miss the payment due date.
If you're wondering whether a charge card or credit card will work better, keep in mind that both types of cards have similar features and perks, including expense-tracking tools, supplementary cards, rewards programs and complimentary extras. So compare both types of accounts to find one that's right for your business.
As business credit cards are designed to help you manage business expenses, you can choose between an account where you are personally responsible for it (known as personal liability) or one where your business is responsible (business liability).
This can be an important distinction if you're in business with other people, or if you want to protect your personal finances against any potential issues down the track.
Corporate cards are designed for medium to large businesses. You could expect to find the following features with a corporate card:
These features are often similar to those offered on other business credit cards but at a larger scale when you compare them to cards designed for SMEs (small to medium enterprises).
Corporate cards also have different eligibility requirements, such as a minimum number of years in trading or a minimum annual turnover. Before applying and opening a corporate credit card account, you'll usually need to submit an enquiry and talk to the provider's business team.
Is fuel a major work expense? Find out about fuel cards
Some of the key factors to compare when weighing up business credit cards include the following:
Some of the most common business credit card costs include the following:
It's less common for business credit cards to advertise balance transfer offers. You can check the card details to see if a balance transfer is available or call the provider to ask them.
Alternatively, you could look at getting a personal balance transfer credit card or a business loan.
If you're applying for a business credit card with personal liability, you'll usually be able to apply online. For cards with business liability or custom features, you usually need to call the credit card provider's business team or request information on the application.
Either way, you'll need to meet a set of eligibility requirements and have some key documents on hand. These vary between cards, but some of the most common requirements and details include the following:
Once you have submitted your application, you should get a response within a few minutes if you've applied online or a few days if you've applied over the phone or at a branch.
In general, you can claim a tax deduction for most operating expenses – including banking fees and charges – in the financial year that these fees are charged. This means you could be able to claim your business credit card's annual fee as well as any interest that's charged if you carry a balance. Talk to your accountant for specific details on what charges you'll be eligible to claim. Alternatively, you could call the Australian Taxation Office (ATO) business line on 13 72 26.
Some business credit cards support 2-5 additional cardholders, while others support up to 99 additional cardholders (or more).
Most business credit cards will not be eligible for instant approval as there is typically an increased risk for business lending and your application will need to be assessed once you submit it.
If you apply for a business credit card with personal liability, the card issuer will check your credit history as part of the application process. This means the application will be added to your credit file. If you're approved for the card, account details will also be listed on your personal credit file.
There will be some differences from card to card and program to program, but mostly the rewards available for redemption will be the same. One perk of business credit cards is that they typically earn more points per dollar spent than personal cards.
According to the Australian Taxation Office (ATO), receiving points is not subject to tax but receiving rewards may have tax implications. You can refer to the ATO website for further information on when tax may apply to rewards you redeem through a loyalty program.
If you have black marks on your credit history (such as defaults) or if you have no credit history, it could make it harder to get approved for a business credit card. When that's the case, here are some options you could consider:
Amy has been writing about personal finance for more than 13 years – including over 700 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.
Earn frequent flyer points as you manage your work spending and enjoy other perks such as lounge passes with a business frequent flyer credit card.
Live eftpos black is a wireless, handheld EFTPOS option from Australian payment service provider Live eftpos – and it gives you a way to earn Qantas Points for card transactions.
Learn how you can accept credit card payments online, compare a range of online payment solutions, including merchant accounts, payment gateways and extras such as Apple Pay acceptance.
Need to accept credit card payments for your business? Here's a look at options including traditional EFTPOS machines, portable card readers and online credit card processing platforms.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.