Business Credit Cards Comparison

Get rewarded for your everyday business spending and manage your expenses with convenience with business credit cards. Compare and find the right credit card for your organisation.

Business credit cards largely work on the same principle as personal credit cards, allowing cardholders to purchase goods or services physically at a merchant location, or remotely via the telephone or interest. The major difference is that eligible business credit card applicants require an Australian Business number (ABN) and can use the card to pay for business costs rather than personal purchases.

There is a variety of credit cards available in the Australian market, and the right option will always depend on your business’ unique financial situation and needs. Use this page to compare your options and find the right card for your organisation.

ANZ Business Black - Business Offer April 2016

Business Credit Card Offer

Earn 50,000 bonus points when you spend $10,000 in the first 3 months.

  • Earn 50,000 bonus points when you spend $10,000 on eligible purchases within the first 3 months for new accounts approved before 30 September 2016
  • Earn 1 ANZ Reward Point for every $1 you spend on eligible purchases. Plus earn 50% more Reward Points on eligible purchases until 31 May 2017
  • You’ll also earn 3 ANZ Reward Points for every $1 you spend on eligible overseas purchases and 0.5 ANZ Reward Points for every $1 you spend on taxation payments
  • Exclusive access to the ANZ Global Business Concierge service for wholesale rates on travel

    Business Credit Card Comparison

    Rates last updated July 22nd, 2016.

    Commonwealth Bank Business Gold Awards credit card

    New offer of annual fee waiver in the first year, which is valid until 15 September 2016.

    July 22nd, 2016

    Commonwealth Bank Business Platinum Awards credit card

    New offer of annual fee waiver in the first year, which is valid until 15 September 2016.

    July 22nd, 2016

    Commonwealth Bank Business Awards credit card

    New offer of annual fee waiver in the first year, which is valid until 15 September 2016.

    July 22nd, 2016

    View latest updates

    Jonathan Choi Jonathan
    Bonus Points Points per $ spent Complimentary Travel Insurance Cover Annual fee Minimum Income
    ANZ Business Black
    Receive 50,000 bonus points when you spend $10,000 within the first 3 months and get access to a range of premium rewards and travel benefits.
    50,000 bonus points 1 3 months $450 p.a. Go to site More info
    American Express Platinum Business Card
    Receive 100,000 bonus points, earn 1.00 Membership Rewards point for every dollar spent, complimentary insurances and access to over 600 airport lounges.
    100,000 bonus points VISA/MC: 0 AMEX: 1 6 months $1,500 p.a. $75,000 Go to site More info
    American Express Velocity Business Card
    A truly dedicated business rewards credit card. Download all your card expenses in a format readable by Quicken, MYOB, Microsoft Excel and more.
    VISA/MC: 0 AMEX: 1 0 months $249 p.a. $24,000 Go to site More info
    American Express Business Card
    One of the original charge cards from American Express the offers complimentary insurances including purchase protection and accident cover.
    VISA/MC: 0 AMEX: 1 0 months $109 p.a. $24,000 Go to site More info
    Commonwealth Bank Business Interest Free Days credit card
    Take advantage of this card's $0 annual fee for the first year, plus up to 55 interest-free days and a complimentary transit accident insurance.
    VISA/MC: 0 AMEX: 0 0 months $0 p.a. annual fee for the first year ($60 p.a. thereafter) Go to site More info
    Commonwealth Bank Business Awards credit card
    Receive an annual fee waiver in the first year and enjoy up to 1.5 Awards points for every dollar spent, plus 55 days interest-free on purchases.
    VISA/MC: 1 AMEX: 1.5 $0 p.a. annual fee for the first year ($100 p.a. thereafter) Go to site More info
    Commonwealth Bank Business Gold Awards credit card
    A business credit card with $0 annual fee for the first year, a range of complimentary insurances and up to 2 Awards points per $1 spent on your purchases.
    VISA/MC: 1 AMEX: 2 3 months $0 p.a. annual fee for the first year ($150 p.a. thereafter) $50,000 Go to site More info
    Commonwealth Bank Business Platinum Awards credit card
    A business credit card with up to 3 Awards points per dollar spent, complimentary insurances and $0 annual fee for the first year.
    VISA/MC: 1 AMEX: 3 6 months $0 p.a. annual fee for the first year ($300 p.a. thereafter) Go to site More info
    American Express Gold Business Card
    Receive 10,000 bonus points on signup and earn 1 Membership Rewards points per $1 spent with uncapped earnings.
    10,000 bonus points VISA/MC: 0 AMEX: 1 2 months $169 p.a. $24,000 Go to site More info

    finder-creditcard-business-infoposter_1024

    What is a business credit card?

    A business credit card varies from a personal credit card, providing extra features such as managing business expenses and employee spending, exclusive rewards and other extra perks for business customers. Business credit cards also include charge cards, rewards credit cards, corporate credit cards and small business credit cards to suit all types of business users needs.

    Why should I choose a business credit card?

    Owning a business credit card comes with some advantages, some of which include:

    • Convenience. Using a business credit card is an easy way to make instant purchases in person, online or over the telephone. You can also request additional cards for employees that need to make regular purchases, which can be more convenient than organising cheques or leaving large amounts of cash around the office.
    • Manage business expenses. Business owners can use a business credit card to separate their personal expenses from their business costs, making it easier to keep track of your business expenditure.
    • Improve credit rating. If you use your card appropriately and make regular repayments, a business credit card can be an easy way to build your business’ credit rating.
    • Interest-free days. Some business credit cards offer interest-free days if the account holder pays the balance in full each statement cycle. Taking advantage of these interest-free period offers can help keep your interest costs at a minimum while improving your business cash flow by offering short-term credit when you need it.
    • Rewards benefits. If you and your additional cardholders make regular payments with a rewards business credit card, you could find yourself racking up rewards points in no time. Rewards business credit cards offer rewards, such as merchandise or travel perks, that could be of value to your organisation. For example, if you have a business trip coming up, you could cut costs by converting your points into Frequent Flyer miles to save on airfares. Similarly, you could redeem the points for travel rewards, merchandise or gift cards to reward your employees.
    • Higher credit limits. Credit cards designed for business expenses usually come with a higher credit limit than personal cards, making them ideal for a company that larger business costs.
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    How to find the ideal business credit card for my business

    There is a variety of business credit cards available to Australian business owners, so you’ll need to compare your options to find the product that provides your card with the greatest value. Here are some of the features:

    What type of credit card user am I?

    While each cardholder has unique needs, the habits of most credit card users fall into at least one of the two below categories. Considering which of these most closely relates to your business’ spending habits to help you pick the right option for you.

    Revolver

    This refers to businesses that carry a debt from month to month and pay interest on the balance owing rather than paying it in full each month. Revolver credit card users are interested in no-frills credit cards and aren’t interested in cards with large rewards (or the hefty interest rates and annual fees that come as a result).
    As such, when comparing credit cards a revolver credit card user is looking for:

      • Low interest rates
      • Low annual fee
      • Instant rewards

    Transactor

    On the other hand, a transactor credit card user pays off their credit card balance in full each month. Unlike a revolver card user, transactors don’t carry balances from month to month and take advantage of interest-free days to keep their costs low.
    When comparing credit cards, those in the transactor category pay close attention to:

      • Reasonable annual fees
      • Maximum interest-free days
      • Rewards
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    Which type of business credit card is right for me?

    Business credit cards vs. charge cards

    A charge card acts as a short-term (usually monthly) loan to a business on any purchases they charge on the card. Charge cards defer the payment owed to the end of the balance month. As a result, interest rates do not apply to charge cards as there is no revolving line of credit. Charge cards are different to credit cards as they provide you with no preset spending limit, for financial flexibility and full control of your expenses. The full amount must be repaid each month to avoid hefty late fees, compared to credit cards that allow a balance to be brought across each month.
    These cards are designed for organisations that are financially stable enough to clear their balance each cycle, so you may like to consider a Business credit card if you are looking to borrow over an extended period.

    Different types of business credit cards and charge cards

    • Rewards. If your business regularly pays for the business expenses on plastic, you could take advantage of a rewards credit card to earn rewards points on necessary expenses. If the organisation often cover business costs with a credit card, racking up a significant amount of rewards points could come easily.
      Depending on which card and rewards program you join, you could redeem your points for travel rewards, merchandise or gift cards. Some cards also allow you to earn bonus points when shopping with certain retailers, so make sure to choose a card that compliments the business’ spending habits. You should also consider the rewards on offer and which program offers the greatest value. For example, if you and your colleagues often take business trips, you could use a frequent flyer program to redeem points for flights to reduce the organisation’s travel costs.
    • Simple and cost effective. While cards that offer a rewards program, concierge services and other premium features can be of benefit, they often come with higher rates and fees. If you’re after a card that offers the basic features without the additional perks, a low-rate or low-fee business credit card could be the right option for you.
      If you’re looking to keep costs to a minimum, consider a card with a $0 or low annual fee and low-interest rate on purchases. Some cards come with a promotional interest rate on purchases (such as 0% p.a. on purchases for the first six months) whereas other cards offer interest-free days (usually up to 55 or so days) for cardholders who pay their balance in full each month. If the card does come with a promotional interest offer, make sure to consider the revert rate to avoid any nasty surprises when the introductory period is over.
    • Long-term purchase repayment. If you mainly use your business credit card for large expenses and struggle to make repayments, a credit card that allows long-term repayment on purchases could be of value. Compare cards that offer low-interest rates on purchases for a promotional period and estimate whether you could repay your balance by the time the introductory period finishes. Otherwise, you could also consider a card that comes with interest-free days whenever you pay your balance in full during the statement cycle.
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    How to apply for a business card

    The application process for a business credit card is relatively similar to the regular application process. The eligibility requirements will vary from card to card, but some of the standards you’ll be expected to meet include:

    • Age. Cardholders must be at least 18 years of age.
    • Residential status. Applicants must be permanent residents of Australia.
    • ABN. Cardholders must have a valid ABN to apply.
    • Credit score. Only applicants with a good credit history will be considered.
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    What else should I consider when comparing business cards?

    • Fees & charges

      Some of the fees and charges include:

        • Currency conversion fees (typically 3% of the transaction value)
        • Minimum required monthly payments (generally 2.5% of the entire outstanding balance)
        • Overlimit fees for exceeding your credit limit (can vary between $15 to $25)
    • Business spending habits

      When choosing a business card, the most cost-effective method is to pick a card that matches your existing business spending. Business cards offer a lot of ‘bells and whistles’ that present an attractive offer, but not all offers will help maximise value while operating your business. Choosing a card should depend on the types of transactions your business undertakes (eligible purchases, capital expenses, additional cardholder spending, business travel needs etc. and matching the types of transactions with the rewards program and card benefits.

    • Extra perks

      • Exclusive business rewards. Business credit cards can provide access to exclusive rewards benefits that are outside the scope of personal credit card users. Other rewards perks can include free delivery and express shipment.
      • Expense management systems. Keeping on top of business expenses and consolidating your credit card transactions can be difficult amongst the other million tasks involved in running a business. Expense management systems give you control and simplicity, providing an all-in-one solution for;
          • 24/7 monitoring, budget tracking by creating standard or custom reports, clear visibility of company spending and recognising patterns to better manage cycles in spending.
          • Multiple reporting formats including: Microsoft Excel®, Word®, PDF, HTML, XML, CSV and Tab-delimited
      • Online business banking. Receive all the access you would expect from banking online like 24/7 access to your account plus optional business security options such as encryption technology for peace of mind. Business applications allow mobile management so you can bank on the go with your business.
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    Personal vs. Business Cards

    Personal credit cards pros & cons

    Pros Cons
    • Lower fees. As personal credit cards are designed to be used by an individual, they generally offer fewer extras, lower fees and help keep costs to a minimum.
    • Claiming your expenses. Personal credit cards are unable to use your business name as the primary cardholder and, as a result, may not qualify as business expenses for accounting purposes.
    • Flexibility. Business credit cards are often restricted for certain purchases, whereas personal credit cards offer greater flexibility when it comes to defining eligible purchases.
    • Lower credit limit. Personal credit cards usually come with a lower credit limit and may not adequately support your organisation’s financial needs.
    • Interest rate promotions. Personal credit cards can provide promotional interest rates such as 0% on purchases and 0% on balance transfers.
    • Inadequate features. The complimentary insurance packages and rewards programs that come with personal credit cards are designed to suit the needs of an individual, not a business. So you may find that the extras offered by a personal credit card fail to meet your business’ requirements.
    • Keeping your personal and business expenses separate. Business credit cards can only be used for business expenses. When using a personal credit card for business purposes, it may require more accounting efforts to separate business expenses for reporting and tax purposes.

    Business Cards pros & cons

    ProsCons
    • Tax deductions for claiming a credit card, or charge card, payment fee.

    A credit card payment fee or charge will be deductible if it meets the following criteria:

    • If the fee is incurred as a result of paying a business tax liability e.g. business income tax liability, a goods and services liability
    • The business tax liability is in connection with the operation of that business
    • The purpose of the business is to gain or produce your assessable income
    • Liability. While allocating additional credit cards to your employees is a convenient feature, keep in mind that the business is liable for transactions made.
    • Simplify the record keeping process/ accounting.

    Using a business credit card allows you to separate your personal and business expenses and simplify the record keeping process, avoiding the difficulty of maintaining multiple accounts.
    Many business credit cards offer management reporting systems such as monthly itemised purchase listings that allow easier tracking of expenditure for budgetary and tax purposes.

    • Requires a good credit score. Business credit card applicants must have a good credit score, so your financial options will be limited if yours isn’t up to scratch.
    • Manage your expenses & cash flows. Tracking your employees expenses and having a clear method of managing your cards can be difficult. Business credit cards come with improved account interfaces allowing ease of management (payments, cash flows) and control for activating and cancelling/ pausing cards.

    This provides benefits such as:

    • reduction in excess costs/ expenses
    • clear visibility of company spending and recognising patterns to better manage cycles in spending
    • access to expense data around the  clockBusiness credit cards also allow easier expense management, avoiding your employees needing to use their personal resources to make business purchases
    • Expensive fees. The extensive rewards programs, complimentary insurances and other features come at the cost of higher annual fees and rates. Compare your options to ensure that these costs are both affordable and not outweighing the benefits of the card.
    • Liability. Business credit cards also place the liability and responsibility of all transactions and balances owing on the card.
    • Security. Business credit cards come with Corporate fraud protection/ liability insurance in the event that your card has been misused/ stolen.
    • Higher credit limit. The annual expenses of a business are generally higher than that of an individual. As such, a business credit card limit can better support the financial needs of a company than a personal card.
    • Building business credit. When you apply for a business credit card and pay your accounts on time this will help build a good financial history, enabling you to apply for other business loans and credit.
    • Additional cardholders. Business credit cards can provide a much larger cardholder base, allowing up to 99 cardholders compared to personal cards which are usually limited to 5-9 additional cardholders. This is beneficial for earning rewards points and expenditure convenience.
    • Extra features. The extra features available on a business credit card (such as rewards programs, complimentary insurances and concierge services) are often more substantial than a personal card. For example, you could expect a higher earn rate for rewards and more extensive insurance policy that is better related to the needs of a business.
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    Other options for business owners

    If a business credit card or charge card doesn’t suit your business’ needs, you could also consider one of the following alternatives

    • Corporate credit card

      Corporate credit cards are designed for larger corporations, and the features of the card are often tailored to meet the business’ unique needs. This usually involves the business owner and executive staff meeting with a representative of the bank or lender to discuss these details. If your business makes over $2 million p.a., a corporate credit card could be of value. Banks don’t usually advertise corporate cards, so it’s more likely that you’ll have to contact your bank directly to enquire about this type of card.

    • Small business credit cards

      This type of card is a popular choice with small to medium sized businesses. These cards usually come with smaller credit limits, fewer features and lower rates and fees than business credit cards designed for larger corporations. As with any credit card, compare your options and ensure that the features and costs of the card are suitable for your business.

    • Business debit cards

      Business debit cards are a more prudent alternative than their credit card counterparts as they only allow cardholders to spend as much as they can afford. Business debit cards’ buying power is determined by the capital available at the time, so this could be a more responsible way to conduct business. While this can keep your business’ record books clear of debt, it drastically limits the buying power of the business.

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    Frequently Asked Questions

    Can I earn reward points for payments to the ATO?

    Please refer to this page for a guide on earning reward points by paying your tax bill.

    Does my business credit card come with travel insurance?

    Business credit cards typically come with complimentary travel insurance. Depending on the bank and the insurance company they are partnered with, the requirements to qualify for cover and the inclusions will differ. It is important to check the terms and conditions around the travel insurance policy to ensure they match your travelling needs before applying for the credit card.

    How does a business credit card differ from a personal credit card?

    As the name suggests, the features of a business credit card are much better suited to that of an organisation than a personal credit card. The credit limit, purchase restrictions and features of a business credit card are designed to compliment the financial needs of a business. As a result, you may find that the features of a personal credit card are insufficient for your business.

    How much can I balance transfer to a Business credit card?

    Banks generally allow between 80-95% of the approved credit limit for balance transfers. This will depend on your application, credit history and the banks lending criteria. 

    How many additional cardholders can I get?

    Business credit cards can support up to 99 additional cardholders. To find out how many cardholders your credit card allows, refer to product table provided (on the review page of the credit card).

    Are the rewards the same as for personal credit card holders?

    The rewards available for redemption can vary between business and personal credit cards and the number of points earned per dollar can also vary depending on the type of business credit card and personal credit card you are comparing. 

    Is there a personal liability for charges on business credit cards accumulating frequent flyer points?

    The main account holder is personally liable for all charges on a business credit card.

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    American Express Essential Credit Card
    American Express Essential Credit Card

    Interest rate

    14.99

    Annual fee

    0
    More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card

    Interest rate

    19.99

    Annual fee

    149
    More info
    NAB Low Rate Credit Card
    NAB Low Rate Credit Card

    Interest rate

    13.99

    Annual fee

    59
    More info
    ANZ First Visa Credit Card - Exclusive Offer
    ANZ First Visa Credit Card - Exclusive Offer

    Interest rate

    19.74

    Annual fee

    30
    More info
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    Credit Cards Comparison

    Rates last updated July 22nd, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
    20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
    14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
    NAB Low Rate Credit Card
    The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
    0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info

    * The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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