The 7 Best Business Charge Cards

Business charge cards can help you fund your business without the same stringent credit requirements. But which business charge cards are the best fit for your business?

We look at the seven best business charge cards that you can use to grow your business.

Business Charge Cards Compared

Card	Benefits	Fees/Interest
The Plum Card from American Express	1.5% cash back on eligible purchases and early payments, plus 60 extra days to pay interest-free.	$250 annual fee. Late fees of $39 or 1.5%/2.99%.
American Express Business Platinum Card	250,000-point bonus, extensive travel rewards, Pay Over Time option on eligible purchases.	APR of 17.99% to 28.74%. Annual fee of $895. 29.99% penalty APR, plus $39 or 2.99% late fee.
Capital One Spark Cash Plus	Unlimited 2% cash back on purchases, $2,000 bonuses, a refundable annual fee, and more.	$150 annual fee. 2.99% late fee.
Bill DIVVY Card	Flexible underwriting and rewards, spend controls, streamlined accounting.	Late fees may apply.
Ramp Corporate Card	Up to 5% savings, over $350,000 in savings partner offers, and unlimited virtual and physical cards.	No fees, except in very specific situations.
Rho Business Card	Up to 2% cashback on purchases, strong spend controls, and your choice of rewards structure.	3% late fee on a delinquent balance for up to six months.
The FairFigure Card	EIN-only, helps you build business credit, and offers flexible payback terms.	$30/month to access FairFigure Capital Card.

The Plum Card from American Express

The Plum Card from American Express can be a great charge card if you want a business charge card with flexibility.

With this card, you get to choose your billing cycle, and there’s no preset spending limit. If you need extra time to make a payment, you can even extend your due date so that you have up to 60 days to pay without interest.

That being said, you will want to make early payments. The Plum Card incentivises you to pay within 10 days of your statement closing date by offering unlimited 1.5% cash back on eligible purchases.

Because The Plum Card is a charge card, there isn’t any variable APR you need to worry about. There are, however, other fees to be aware of. These include:

• An annual fee of $250.
• A $39 late payment fee or 1.5% of the past due amount, whichever is greater.
• If you fail to pay for two billing periods, this percentage jumps up to 2.99%. Take care to avoid making late payments or failing to pay altogether.

American Express Business Platinum Card

The American Express Business Platinum Card isn’t quite a charge card. That being said, there’s a unique feature that one should know about when signing up for this card: Pay Over Time.

Pay Over Time gives you the ability to carry a balance (with interest) on eligible purchases for however long your Pay Over Time limit lasts. However, any ineligible purchases or purchases that aren’t added to your Pay Over Time balance will need to be paid in full.

It’s important to note that this feature is turned on automatically. You can turn it off, which would essentially turn your card into a charge card. It’s worth reading further into this to understand how the system works and what to expect. You can find the full breakdown here.

This is why this card still makes this list.

There’s a lot that this card offers. You can expect perks like:

• 250,000-point bonus if you spend $20,000 in the first three months of account opening.
• A host of premium travel benefits and rewards. These include an up to $600 hotel credit, an up to $200 airline credit, and more.
• 5x Membership Rewards Points through Amex Travel
• A 35% airline bonus
• Business credits for Adobe, Indeed, and more
• 2x points on key business purchases
• Cash flow flexibility
• No preset spending limit
• And so much more

This card does come with fees and interest. These include:

• Interest rates ranging from 17.99% to 28.74%
• 29.99% penalty APR
• An annual fee of $895
• $39 or 2.99% of any past due pay in full amount, whichever is greater

Capital One Spark Cash Plus

The Capital One Spark Cash Plus is a bit harder to qualify for than other options on this list. Most Capital One cards require excellent credit, including this one. It’s important to know this upfront before applying.

The Capital One Spark Cash Plus card is great for the business owner who wants a charge card with rewards. The Capital One Spark Cash Plus card offers:

• 2% unlimited cash back on purchases.
• A $2,000 cash bonus when you spend $30,000 in the first three months of account opening.
• An additional $2,000 in funds for every $500,000 in the first year of account opening.
• Unlimited 5% cash back on hotels and rental cars (booking through their travel site).
• No preset spending limits for cash flow flexibility.
• $150 annual fee refund if you spend at least $150,000 every year.
• Plus, standard features like $0 fraud liability, free employee cards, and more.

Because this is a charge card that requires excellent credit, the annual fee is lower. As mentioned above, it has an annual fee of only $150.

The late fees are fairly standard. If you do miss a payment, you can expect interest rates of 2.99% on the unpaid portion of your minimum payment.

Bill DIVVY Card

So far, we’ve covered charge cards from traditional financial institutions. However, there are many fintech companies that offer charge cards as well. If you’re considering this route, you might want to look into the Bill DIVVY card.

The Bill DIVVY card is part of Bill’s broader financial ecosystem. If you currently use any of their solutions to manage your business finances, it could be worth signing up for the Bill DIVVY card, since it’s integrated into those systems.

What do you get with the Bill DIVVY card? This card comes with:

• Flexible underwriting and rewards. Like many of the charge cards throughout this list, the Bill DIVVY card considers revenue, time in business, etc. This ensures you have a credit limit and rewards structure that meets you where you are (and grows with you).
• No annual fees.
• Spend control features to help you manage your budget and oversee employee spending.
• Virtual cards make it easier for employees to manage business expenses.
• Credit lines ranging from $1000 to $5 million.

What is worth mentioning is that this card will perform a soft credit pull. They’ll likely check both your personal credit score and your business credit. The other corporate charge cards on this list won’t do this. Bill DIVVY is the outlier.

Ramp Corporate Card

The Ramp Corporate Card is another great option if you’re considering corporate cards.

As with Bill DIVVY, Ramp is a fintech company. Whether you’re just looking for a charge card or you want a wealth of financial products and solutions alongside it, Ramp is worth looking into further for your business.

The Ramp Corporate Card has many of the standard corporate charge card features, alongside some more exciting perks. These include:

• Preset controls on corporate cards that help you manage expenses, setting limits for specific vendors and categories
• Seamless expense reporting via mobile app, SMS, and a wealth of integrations
• Rewards of up to 5%
• Over $350,000 in partner offers savings
• Unlimited physical and virtual cards
• Accounts payable automation
• No fees (annual fee, foreign transaction fees, etc.)
• It’s a no PG business credit card
• And more

Some corporate cards do have more stringent qualification requirements. Ramp is an easier one to qualify for. All you need to qualify for this card is a registered business and $25,000 in a business checking account.

Rho Business Card

The Rho Business Card is a strong charge card option if you want an experience with no frills. It’s a simple card that offers many of the same fintech features and perks offered above.

The Rho Business Card comes with up to 2% cashback. The amount of rewards you receive is dependent upon the type of cashback rewards program you’re a part of. Rho has both a standard program and a premium program.

You can learn more about the requirements for those programs on their Cashback Rewards page.

The Rho Corporate Card gives you a great deal of spend control and visibility. This is supported by features like:

• Built-in, easy-to-establish spend limits, merchant restrictions, and approval flows.
• Unlimited physical or virtual cards that can be tied to specific vendors, allowing for instant vendor visibility.
• Real-time transactional sync, simplifying the accounting process by tracking expenses automatically.
• The ability to restrict card access to certain members of your organization.
• Easy tracking and cancellation of subscriptions.
• And beyond.

Rho doesn’t have any revenue requirements for its card. Unlike other corporate charge cards, you won’t be required to have a certain amount in savings or meet other factors.

They serve a wide range of businesses. This includes everything from startups to middle-market businesses that apply for their revenue based business credit cards.

They don’t have any annual fees or interest rates to worry about. However, they do reserve the right to charge a 3% late payment fee on a delinquent balance for up to six months.

The FairFigure Card

The FairFigure Capital Card is a unique card in that it’s not a charge card or a credit card. However, it’s on this list because it’s the perfect solution for small businesses just getting started with business credit.

The FairFigure Card is an EIN only business card. It requires no personal guarantee, no personal credit check, and no paperwork.

It’s a revenue-based card that gives you a spending limit based on your monthly recurring revenue. So long as you have three months in business and at least $2,500 in monthly revenue, you can get started with FairFigure.

The FairFigure Card is focused heavily on helping you build your business credit score and payment history.

Every payment is reported to Equifax, Experian, Creditsafe, and the SBFE to help build your credit score. FairFigure also has its own Foundation Report it reports transactions to, which illustrates your fundability.

The FairFigure Capital Card is offered alongside FairFigure’s business credit monitoring services. If you have a subscription, you’re getting two tradelines. This helps you build your business credit score faster.

This is also a card that offers flexible payback terms. Whether you want to pay off your balance in four weeks or eight weeks, you get to choose what works best for you.

The FairFigure Card is a stellar choice if you want a card designed around your needs as a small business owner.

What Makes These Charge Cards Different from Business Credit Cards?

Small business owners can sign up for a business credit card. However, it’s important to consider all of your options. It’s also important to understand the differences between them. What distinguishes charge cards from business credit cards?

• No Revolving Credit: The one key feature that separates charge cards from business credit cards is payment style. With a charge card, you have to pay in full by each payment deadline. You won’t be able to carry a balance like with a traditional credit card.
• Fewer Fees (Generally): As can be seen above, banks offering charge cards may have fees or even interest rates. Generally speaking, many charge cards have fewer fees. This can be desirable when compared to small business credit cards.
• No Preset Spending Limit (or Higher Ones): Many of these charge cards have no preset spending limit or offer much higher credit limits than business credit cards. This gives you more cash flow flexibility in your small business.
• Strong Rewards and Business Support: Many business charge cards offer a wealth of rewards and focused business benefits designed to support your needs. Business credit cards do offer these perks, but these charge cards ramp things up.

How to Choose the Right Business Charge Card

There are a lot of great business charge cards to choose from. Here are a few tips on how to choose the right one.

• Rewards Structures: Consider which charge card is going to offer the rewards you want. Not every charge card has a sizeable rewards structure, which can be a downside for the average business owner.
• Terms: What do payment terms look like? Do you have any flexibility with payment? Are there specific benefits offered that will improve your experience? Consider all this when shopping around for a business charge card.
• Credit Limits: The more you have to spend, the more funding you have accessible to your business. See what you may realistically expect with each card and whether they offer the financing your business requires.
• Other Benefits: From partner discounts to integrations with accounting solutions, many charge cards go beyond helping you fund your business. Think about what specific benefits will support your business needs.
• Reputation: It’s always worth looking into a charge card issuer’s reputation. If there are any red flags or common complaints, it helps you avoid signing up for a card that could result in a negative experience.

A business charge card can help you circumvent some of the challenges and drawbacks that accompany traditional business credit cards.

Do you want to fund your business without personal credit and build business credit in the process? Sign up with FairFigure today!