No-Annual-Fee Business Credit Cards Do Exist! Here Are 5 Options to Consider

If you’re a small business owner, you’ll be happy to learn that no annual fee business credit cards do exist. And if you have regular or upcoming business purchases, using a business credit card with no annual fee can help you reduce the hard cost to your business with valuable rewards or cash back. But with so many card options, how do you decide which is best for your business?

In this article, I will discuss how to choose the best no annual fee business credit card. I’ll also outline a few of the best options available and some tips to consider before you apply for a card.

How to choose the best no-annual-fee business credit card

Choosing a credit card is difficult because there are so many options available. As you weigh your options, it is important to know that a credit card for your business can be a large asset. It can help boost spending power, make it easier to track your business expenses, and much more.

Often, earning travel rewards or cash back are top-of-mind for small business owners when they research different cards. However, it’s important to consider a few other factors before you choose a card for your business.

• Rewards: You will earn either cash back or travel rewards as you spend. Both are equally valuable, but the most important question is — which will benefit your business the most?
  
• Welcome offers: Many credit cards offer a welcome offer when you first sign up for the card. Often, these offers are lucrative and enticing, but be sure to look beyond them as well. While one card may offer a great bonus, it might not give you the long-term rewards your business needs.
  
• Introductory APR offers: Some cards offer interest-free spending for a set time period. These offers can be valuable if you need to make a large purchase and want more time to pay off your balance.
  
• Coverages: Business owners often overlook the additional coverages that some credit cards provide. Examples of credit card insurance coverages include: rental car insurance while traveling, purchase coverage if your item is lost or stolen, and extended warranty to give your purchases longer coverage options than the manufacturer's warranty.

What is the best no-annual-fee business credit card?

There are a limited amount of no annual fee business credit cards on the market. The majority do have an annual fee, but several do not have annual fees. While there is no “best” card, there are several options that may be the “best” for you and your business needs.

If you’re interested in applying for a Chase business credit card specifically, remember that all Chase cards fall under the dreaded 5/24 rule. According to the 5/24 rule, if you have five credit card approvals in a 24-month span, you will be declined from any Chase credit cards. 5/24 rule aside, if you are interested in a multiple credit card strategy to maximize your expenses, you should apply for Chase cards first.

Here are a few of the best business credit cards with no annual fee.

Ink Business Cash^® Credit Card

The Ink Business Cash^® Credit Card is one of the best no annual fee business credit cards.

With the Ink Business Cash, you can earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year; and 1% cash back on all other purchases.

To get your cashback earnings off to a quick start, you can earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. Not to mention a $0 annual fee!

In addition to the savings, the Ink Business Cash Card card comes with rental car insurance, purchase protection, and extended warranty protection.

This card is a great option for small business owners who want to save money each month on their expenses that match the specific categories of the card.

Check out our full Ink Business Cash^® Credit Card Review.

The Blue Business^® Plus Credit Card from American Express

If one of your top priorities is to earn points for travel, The Blue Business^® Plus Credit Card from American Express is a card worth considering.

With the Blue Business Plus from American Express, you can earn 15,000 membership rewards points after you spend $3,000 on eligible purchases within the first 3 months of card membership. You will also earn a respectable 2X Membership Rewards points on everyday eligible business purchases up to $50,000 each year, and 1X points on eligible purchases after that with this card. Along with this card, it is a great idea to apply for the Amex trifecta to earn the maximum amount of Membership Rewards possible. Membership Rewards can be redeemed for a variety of different things, including travel, gift cards, or online shopping.

In addition, you’ll also get employee cards for no additional fee, rental car insurance,¹ and Global Assist Hotline² in case things go awry while you are traveling for work.

The Blue Business Plus from American Express is a great card for hassle-free points earning on all of your business purchases.

Check out our full The Blue Business^® Plus Credit Card from American Express Review.

Capital One Spark Cash Select

The Capital One Spark Cash Select card is a simple yet effective option for business owners that want to save on their purchases.

The Capital One Spark Cash Select can earn you unlimited 1.5% cash back for your business on every purchase, everywhere; plus unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. In addition, you can earn a $500 cash bonus after spending $4,500 in the first 3 months of account opening. 

This card may not offer as many perks as other no-annual-fee business credit cards, but a simple option may suit your business needs the best.

Check out our full Capital One Spark Cash Select Review.

Ink Business Unlimited^® Credit Card

Similar to the Capital One Spark Cash Select, the Ink Business Unlimited^® Credit Card card offers unlimited cash back on all your business purchases.

When you use the card, you can earn unlimited 1.5% cash back on every purchase. This cashback rate isn’t too special, but the welcome bonus is worth considering as you can earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. In addition, the card comes with a 0% intro APR on purchases for the first 12 months of card membership (then 17.99% - 23.99% Variable).

In addition to the savings, the Ink Business Unlimited card comes with rental car insurance, purchase protection, and extended warranty protection.

This card is a great option for small business owners who want to save money each month on their expenses without investing time into tracking numerous spending categories.

Check out our full Ink Business Unlimited^® Credit Card Review.

Bank of America^® Business Advantage Customized Cash Rewards Mastercard^® credit card

The Bank of America^® Business Advantage Customized Cash Rewards Mastercard^® credit card has a stretched out name — and it wants to stretch your business’s dollars even further.

With the Business Advantage Customized Cash Rewards credit card, you can earn 3% cash back in your category of choice: gas stations & EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services and 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, then 1%); and unlimited 1% cash back on all other purchases. It also offers a generous welcome bonus — you can earn a $300 online statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening.

To earn even more cash back, you can become part of Bank of America’s Preferred Rewards for Business program. This program can increase your cashback earnings up to 75% based on how much money you are holding with Bank of America. If you are in the market for a new bank account and credit card simultaneously, you may want to consider Bank of America as they reward their loyal customers well.

In addition, the Business Advantage Customized Cash Rewards credit card offers a 0% intro APR on purchases for the first 9 billing cycles of card membership (then 17.99% - 27.99% Variable).

Check out our full Bank of America^® Business Advantage Customized Cash Rewards Mastercard^® credit card review.

Why we chose these cards (methodology)

There are many different business credit cards on the market today, both with and without annual fees. It can be difficult to know which one is right for your business, but these no-annual-fee business credit cards will help you narrow down your options.

In addition to having no annual fee, I chose these cards because you can use them to earn cash back or rewards on your business purchases. The cash back you earn can help keep your budget healthy. And if you choose a card with travel rewards, these can help save on your business travel costs such as flights or hotels. Either way, you are earning value back through business purchases you were going to make anyway.

The bottom line on the best no-annual-fee business credit card

Although you may hear or read differently, there isn’t a “best” business credit card. The “best” business credit card is the one that earns you the maximum amount of rewards based on your purchases. And to find that “best” card for your business, take a good look at your expenses.

If your expenses are solely at office supply stores, you will want to consider a card that rewards you within that category. If you spend intermittently and across different categories, a card that rewards you equally for all your purchases may be the better route.

It’s easy to select a card and call it “good.'' But if you do so, consider that you may be leaving valuable rewards on the table. Your time as a business owner is valuable, but the rewards are valuable as well. If you take 30 minutes of your time to evaluate which no-annual-fee business credit card is best for your business, you could make a significant difference in your budget.

Simplified Earnings for Small Business Owners

The Blue Business^® Plus Credit Card from American Express

4.9

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The Blue Business^® Plus Credit Card from American Express

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See rates and fees | Terms Apply

Current Offer

Earn 15,000 Membership Rewards points after you spend $3,000 on eligible purchases within the first 3 months of card membership

Annual Fee

$0

Rewards Rate

2X Membership Rewards points on everyday eligible business purchases up to $50,000 each year, and 1X points on eligible purchases after that

Benefits and Drawbacks

Benefits

• Elevated rewards on all eligible purchases up to $50,000 a year
• $0 annual fee
• Intro APR offer on purchases
• Flexible point redemption options
• Expanded buying power feature

Drawbacks

• Rewards cap after $50,000 spend
• 2.70% foreign transaction fee
• No category-specific bonus rewards

Card Details

• Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
• 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.99% - 25.99%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
• Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.
• You’ve got the power to spend beyond your credit limit* with Expanded Buying Power. *The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
• No Annual Fee
• Terms Apply.