Best Business Credit Cards for Travel in 2020
If you’re traveling often for business purposes, it makes sense to take a look at business credit cards for travel -- whether you want to rack up big travel rewards or take advantage of premium travel perks, or both.
Depending on how you’re spending and travel for your business, your choice can vary. Here are the best business credit cards for frequent travelers:
Best Business Credit Cards for Travel
The Business Platinum Card® from American Express
Why we like it:
The has a long list of perks that makes it easy to get great value out of the $595 annual fee.
The $200 annual airline fee credit and the statement credit toward fees for Global Entry/TSA PreCheck help negate the bulk of that annual cost. Furthermore, you get complimentary airport lounge access, automatic gold status with Marriott Bonvoy and Hilton Honors, and points redemptions for airfare get a 35% bonus.
Chase Ink Business Preferred
Why we like it:
The lets you earn 3x points on travel (among other common business spending categories) and these points are worth 25% more when you redeem them for travel through Chase Ultimate Rewards. Additionally, you can transfer the points to major airlines and hotel partners.
A big differentiator is that Chase offers primary auto rental coverage, which is ideal for travelers who are often renting cars.
Capital One® Spark® Miles for Business
Why we like it:
The offers simple travel rewards. Every purchase earns 2 miles per dollar -- with opportunities to earn up to 5 miles per dollar on certain travel spending. And, the miles can be transferred to 17 airline and hotel partners.
The application fee credit for Global Entry/TSA PreCheck already helps negate a big chunk of the $95 annual fee (waived for the first year).
What Factors to Look For
It’s absolutely vital that a business credit card provides value to you based on how you’re running your business.
There’s no point in signing up for a credit card with the extravagant rewards that don’t match your biggest business expense categories.
So, to begin, review the past six (6) months of business travel expenditures to find out if a particular business credit card will generate the most rewards.
Then, identify certain business credit card perks that would help you during business trips because you should have traveled enough to find pain points that could be solved with those particular perks.
Is the Annual Fee Worth It?
The reality is:
Premium travel credit cards are most likely going to have an annual fee. Your goal is to maximize the benefits in a way that you get back the value of that annual cost, plus more.
The top business travel credit card will usually offer some form of statement credit toward various purchases or expenses. They may include:
- Global Entry/TSA PreCheck application fee
- Airline incidental fees (e.g., checked baggage fees and in-flight purchases)
- Travel purchases (e.g., airfare, ground transportation, hotels, cruises, etc.)
- Your card’s annual fee
Also, co-branded travel credit cards -- such as those issued in partnership with airlines or hotels -- may offer companion passes or anniversary bonuses. A free trip or a lump-sum of miles can easily make up the cost of the annual fee.
Other fringe benefits out there may generate value depending on how often you use them.
For example, with a complimentary airport lounge membership, the true value of the perk is determined by how often you actually use a lounge. Typically, a one-time lounge pass is the equivalent of $30 to $60.
Who Can Apply for a Business Credit Card
A business credit card is available to anyone who has business income, including those who run a small business or sole proprietorship and freelancers.
While you may be asked to provide a tax ID or employer identification number (EIN), you may qualify for a business credit card with your personal Social Security number.