Every business owner must know how to keep their personal and business finances separate. Irrespective of the type of business you have, may it be a freelance venture, a side hustle, or a company with employees, there should be a clear distinction between your business and personal accounts. This is to save yourself from headaches come tax time, as well as to keep accurate records of personal and business expenses.

To help you with this, opening a business credit card such as the one offered by Brex is recommended. Not only can it help you maximize your purchases, but it can also grant you discounts and rewards on categories that are often associated with your operations, including office supplies, airfare, advertising, and gas. It can also give you access to higher credit limits, which you may not get with a personal card. Plus, you’ll have the peace of mind knowing that you’re protecting your personal credit profile and assets. 

To help you choose the best card to open for your business, here’s a rundown of the best in the industry, allowing the rewards and perks that come with them. 

Chase Ink Business Preferred Credit Card

In addition to a hefty sign-up bonus, business owners who use this card can enjoy flexible points on purchases like travel, shipping, internet, cable, phone, and advertising. Points are easily redeemable, and you get expense management tools, cellphone protection, and travel insurance. 

Bonus Offer: Earn 100,000 bonus points after you spend $15,000 on purchases in the first three months from account opening.

Benefits and Rewards:

  • Flexible rewards program
  • Lucrative rewards-earning scheme
  • Trip cancellation/interruption insurance
  • Primary rental car collision insurance
  • Cell phone protection
  • Insurance for stolen or damaged purchases
  • Extended warranties
  • Roadside assistance hotline

Discover It Business Card

Businesses who need more time to pay down upcoming expenses can significantly benefit from this card. New cardholders can enjoy a 0% APR on purchases for a full year, as well as a match in cashback you’ve earned during that interest-free period. The ongoing cashback rate of 1.5% on all purchases can become 3% for a limited time. 

Bonus Offer: Discover will automatically match all the cash back you’ve earned at the end of your first year.

Benefits and Rewards: 

  • Cashback match
  • Intro offer with 0% APR
  • No annual fee
  • 24/7 customer service
  • Fraud monitoring
  • Waived first late payment
  • Easy redeem point system

Brex Corporate Card for Startups

Unlike other business credit cards, this one uses your company’s cash and equity to determine your credit limit instead of pulling your personal credit report. It’s a World Elite Mastercard, meaning you’ll get benefits like price protection and extended warranty, as well as discounts from companies like Lyft, Boxed, and Lufthansa. It also doesn’t incur foreign transaction fees for purchases outside the US, and it boasts a competitive rewards program that includes a 1-to-1 point transfer ratio to airlines like JetBlue, Singapore Air, Air France, and Avianca.

Bonus Offer: Earn 75,000 bonus points after spending $1,000 in purchases and waived card fees for life. 

Benefits and Rewards:

  • 7x points on rideshares and taxis
  • 4x points on travel booked through the Brex travel portal
  • 3x points on restaurants
  • 2x points on recurring software/SAAS
  • 1x points on all other expenditure
  • 1.5% in cashback
  • 10-20x higher credit limit than traditional small business corporate cards
  • Integrations with Quickbooks, Xero, and more.
  • 15% discount off new WeWork desk or office space for up to six months across all US locations
  • Additional partner offers from Google Ads, Zoom, and many others

Bonus Rewards:

If you sign up using this link, you will receive the following additional rewards:

  • 100,000 points = $1,000 in rewards
  • $5,000 in AWS credit over a year
  • $150 on Google Ad spend
  • Waived monthly fees
  • New customers may also qualify for any of the offers from our rewards partners.

Note that the Brex Corporate Card has the following underwriting requirements: $50,000 in the operating bank account and a U.S. EIN Number. This card is not available for sole proprietors.

Conclusion

Having a business card not only lets you keep your personal and business expenses separate, but it also allows you to stay on top of your business expenditure. Should you need more help in staying on top of your business’s financial health or accounting services, get in touch with us.

 

Disclaimer: Accountrepreneur (A4E) receives commissions for those who sign up using our links.

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