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The Best Credit Union Business Credit Cards in 2020

Find out which credit unions offer the best business credit cards to their local business owners -- based on rewards programs, card fees, and useful perks.

Much like personal credit cards, you can be stuck with a tough decision choosing a business credit card.

You may have to consider the rewards program or the card's perks that may help your business operations.

The major U.S. credit card issuers and banks offer very attractive choices (not surprising).

But, if you are leaning toward a credit union on your search for a business credit card, there are options available as well.

That said:

Be sure to compare the rewards programs, fees, and any useful card benefits when you're looking at business credit cards.

Here some of the best business credit cards issued by credit unions.

Best Credit Union Business Credit Cards

  • Connexus Credit Union Visa Business Cash Card
  • Navy Federal Credit Union Business Rewards
  • Affinity Credit Union Business First Visa
  • Interra Credit Union Business Rewards Plus
  • RBFCU Business Select Mastercard

Remember:

Unlike banks, credit unions have membership requirements.

So in most cases, to apply for one of these credit union business credit cards, you will need to belong to or join the credit union first.

Each credit union has its own different membership requirements.

Some credit unions require you to be a resident of a specific geographic area. Others are for members of specific organizations. Many credit unions do allow you to purchase a membership for a nominal fee.

With all that said, let’s take a look at some of the best credit union business credit cards.

Connexus Credit Union Visa Business Cash Card

The Connexus Credit Union Visa Business Cash Card is offered by Connexus Credit Union.

Membership in the Connexus Credit Union is open for employees and retirees of several different businesses, residents of several areas of Minnesota, Wisconsin and Ohio, or by joining the Connexus Association and making a one-time $5 donation.

The Connexus Credit Union Visa Business Cash Card earns cash back in the following rates:

  • 3% cash back at office supply stores and cellular phone, landline, internet and cable TV services
  • 2% cash back at restaurants and gas
  • 1% cash back everywhere else

The Connexus Credit Union Visa Business Cash Card has no annual fee.

Navy Federal Credit Union Business Rewards

The Navy Federal Credit Union Business Rewards card offers 1 point per dollar spent on all purchases with no cap and no annual fee.

Points earned with the Navy Federal Credit Union Business Rewards are worth 1 cent each and can be redeemed for a variety of statement credits or gift cards.

Membership in Navy Federal Credit Union is open to the armed forces, the DoD, veterans, and their families.

Affinity Credit Union Business First Visa

The Affinity Credit Union Business First Visa card offers 1 point per dollar spent on all purchases.

You can also earn up to 6 extra points per dollar spent through their rewards portal. There is no limit to the amount of points you can earn, and the card has no annual fee.

You can redeem points for statement credits, gift cards and merchandise and are worth up to 1 cent per point each.

You can become a member of Affinity Credit Union if you are a resident of select New Jersey or Connecticut towns, if you are employed by one of their partner companies or by making a $5 donation to support financial literacy by becoming a member of either the New Jersey Coalition for Financial Education (NJCFE) or Connecticut Jump$tart.

Interra Credit Union Business Rewards Plus

The Interra Credit Union Business Rewards Plus card is offered by Interra Credit Union.

The Interra Credit Union Business Rewards Plus card earns 3 points per dollar spent on dining and gas, up to $150 annually. You will also earn 1 point per dollar on all other purchases.

You can redeem points for statement credits, gift cards or merchandise at a value of up to 1 cent per point.

Membership in Interra Credit Union is restricted to residents of certain Indiana counties or those who work for participating employers.

RBFCU Business Select Mastercard

The RBFCU Business Select Mastercard is offered by Randolph-Brooks Federal Credit Union (RBFCU).

The RBFCU Business Select Mastercard offers a flat 2% cash back on all purchases with no limit and no annual fee.

You do have to become a member of RBFCU, which states there are more than 3,000 ways for someone to join (most easily for those who live, work, worship or attend school the Austin or San Antonio areas).

What to Look for in a Business Credit Card

There are a few things that you’ll want to keep in mind when looking for a business credit card.

The first is that behind the scenes there is no difference between a personal and a business credit card.

The credit card company doesn’t know or care the difference between a personal and a business question.

Your accountant will certainly thank you if you keep your personal and business expenses separate. But if there is a credit card that is marketed as a business credit card that you’re interested in personally, there’s no problem applying for and using it.

Rewards

Many credit cards that are marketed to small businesses do offer rewards in categories that are often used by businesses.

This might include bonus rewards in categories like spending at office supply stores, on advertising or utilities or gas stations.

Most importantly:

Ensure that the rewards program is a good match for your business expenditures -- in order to maximize the rewards earned.

Fees

Then compare that to any fees or expenses to decide if the card is worth it for your specific situation.

The biggest fee may be the annual fee.

Now:

Some business credit cards will charge annual fees but offer stellar rewards programs. So, you'd have to do a little math to determine whether the strong rewards program proves to be more valuable than the cost of the card's annual fee.

Another fee to consider is additional card fees for having linked employee cards.

Some business credit cards offer employee cards for free, which is useful for business owners who want certain employees to have purchasing power.

What You Need to Apply for a Business Credit Card

One big difference between personal and business credit cards is that to apply for a business credit card, you will need to have a business.

The business doesn’t have to be a Fortune 500 company or even registered as an LLC, but you will be asked for business information.

The card application will ask for your business name and information about your business such as the type of business, number of employees and annual income.

You may even have a business even if you don’t think that you have a business.

Any activity that you are doing that makes money could be considered a business. This might include selling things on eBay, making and selling crafts to friends or watching kids for friends.

Now:

There’s no set amount of income or length in business to be approved for most cards. Don’t lie or inflate your income to try to be approved. Just be prepared to talk with a representative from the issuer about your business.

Personal guarantee

You will enter the business’s information to apply for the credit card. But one other thing to keep in mind is that you will also need to give a personal guarantee.

That means:

You will also put in your own personal information (typically birthdate and Social Security number).

You’ll also be liable for any debts incurred by the business on the business credit card, just as if it were a personal credit card.

The Bottom Line

To apply for one of these best credit union business cards, you will need to be a member of the credit union in question.

Credit unions are different from banks in that, by law, they must limit their membership to a certain subset of people.

Some credit unions have relatively strict membership criteria. Others allow membership with a small one-time donation.

While some of these credit union business credit cards offer lackluster rewards, there are some that could be intriguing.

This is especially true if you are already a member of the credit union.

Take a look at the rewards and earning to determine if any of these credit union business credit cards might work for you.