If you’re a frequent, regular or even occasional business traveler, having a small business credit card is one of the most valuable tools you can have. The right small business credit card for travel will allow you to separate your business expenses, while earning rewards and receiving valuable cardholder benefits.
The Benefits of Having a Business Credit Card for Travel
Like all small business credit cards, travel rewards cards offer you the chance to separate your personal charges from your business expenses. Beyond that, the best small business credit cards will offer valuable points or miles, rather than cash back, for the kinds of charges you make when you travel, such as purchases from airlines, hotels, rental cars and restaurants. Small business credit cards also offer valuable cardholder benefits such as travel insurance and purchase protection.
Things to Consider When Comparing Business Credit Cards for Travel
There are several important factors to consider when choosing a small business credit card.
Welcome Offer
Just as with travel credit cards for consumers, travel cards for small business owners can offer new applicants generous rewards for opening a new account. Although it probably shouldn’t be the most important factor, you might want to consider the value of any new account bonus offered, as well as the minimum spending requirements necessary to earn the bonus.
Rewards for Spending
A good travel card for small business owners will offer valuable points or miles for your spending. If you’re avoiding interest charges by paying your balance in full every month, then it’s a good idea to earn the rewards that are most valuable to you.
Cardholder Benefits
Premium travel rewards cards for small business owners will offer you plenty of cardholder benefits. For example, airline credit cards will offer benefits like priority boarding, a free checked bag and discounts on in-flight purchases. Hotel cards will give elite status which can offer room upgrades, late checkouts and even free breakfasts. And if you use a travel rewards card that’s not part of an airline or hotel program, you could get other benefits like travel statement credits, airport lounge access and bonus points for booking through the card issuer’s in-house travel agency. Many credit cards also include rental car insurance, which allows you to decline the expensive optional policies that travelers are often pressured to purchase.
Interest Rate and Fees
Many travel rewards cards for small business owners will also charge an annual fee, but will include numerous perks and benefits that justify the expense. Otherwise, you could select a simple card that has no annual fee, and offers less generous rewards.Those who travel outside the U.S., or make purchases from companies that process the charge in other countries, should also look for a card with no foreign transaction fees.
Best Business Credit Cards for Airline Miles
has always been one of the top premium travel rewards cards for business owners. This card allows you to earn Membership Rewards points that can be transferred to frequent flyer miles with over a dozen airlines.
- Welcome offer:
- Rewards rate:
- Annual fee:
- Foreign transaction fee:
You can also earn bonus points on eligible purchases from select business categories including construction material and hardware suppliers, electronic goods retailers, shipping providers and software and cloud system providers.
The Business Platinum card offers American Express Membership Rewards points that can be redeemed for gift cards, merchandise and travel. But these points are most valuable when transferred to one of its many airline partners and redeemed for expensive international tickets in business and first class.
This card also features numerous opportunities to earn statement credits.
Among its numerous travel benefits are airport lounge memberships with Delta Airlines SkyClubs, Priority Pass Select and the American Express Centurion lounges. You also receive Marriott BonvoyGold Elite Status, Hilton Honors Gold Status and premium status for a number of car rental programs. The annual fee for the is . Foreign transaction? !
Best Card for Travel Miles
from Chase
This card offers an outstanding new account bonus along with bonus points for travel and other common purchases made by small business owners. Chase Ultimate Rewards points can be transferred to airline miles or hotel points.
- Welcome offer:
- Rewards rate:
- Annual fee:
- Foreign transaction fee:
New accounts earn 100,000 bonus points, worth $1,250 in travel booked through Chase, after spending $15,000 on purchases within three months of account opening.
The points you earn are in Chase’s Ultimate Rewards program, which offers transfers to several different airline and hotel partners including United, Southwest and Hyatt. This card also includes extensive travel insurance and purchase protection policies. There’s a annual fee for this card, and foreign transaction fees. There’s also no additional fees for employee cards.
Best Business Credit Card for Domestic Travelers
comes with a welcome offer: On an ongoing basis, you’ll earn .
With an annual fee of $0, no foreign transaction fee — , and an intro APR of , this is a solid all around travel rewards credit card.
The offers numerous chances to earn bonus miles as well as perks when traveling on American Airlines.
- Welcome offer:
- Rewards rate:
- Annual fee:
- Foreign transaction fee:
When you have this card, you’ll receive your first bag checked free and enjoy preferred boarding in order to make sure you have a spot in the overhead bin for your carry-on. This card also offers savings on travel perks, like inflight wi-fi.
Best Business Credit Cards for Hotel Stays
The offers an outstanding new account bonus as well as strong benefits and rewards.
- The Welcome offer:
- Rewards rate:
- Annual fee:
- Foreign transaction fee:
New accounts earn a large amount of bonus points in the Hilton Honors program after meeting the minimum spending requirements. You also
The World of Hyatt Business Credit Card from Chase
This card offers a great new account bonus as well as numerous perks and benefits in the World of Hyatt rewards program.
- Welcome offer: Earn 75,000 points after spending $7,500 on purchases within three months of account opening.
- Rewards rate: Earn 4x points at Hyatt hotels, and 2x points on your top three eligible spending categories through 12/31/22, then your top two categories each quarter.
- Annual fee: $199
- Foreign transaction fee: None
This card overflows with benefits including :
- $100 in Hyatt statement credits when you spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year.
- Automatic World of Hyatt Discoverist status for you and up to five employees.
- Five annual Qualifying Night credits for every $10,000 spent.
- Spend $50,000 or more in a calendar year and get 10% of your redeemed points back for the rest of the year.
There’s a $199 annual fee for this card, and no foreign transaction fees.
*All information about the World of Hyatt Business credit card from Chase has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav Credit Card Marketplace.
Best Business Credit Card for Earning Cash Back from Travel Purchases
The makes sense for those who want to earn cash back from their business travel expenses, instead of travel rewards points or miles.
- Welcome offer:
- Rewards rate:
- Annual fee:
- Foreign transaction fee:
While this card doesn’t offer a new account bonus, it does feature outstanding rates of cash back rewards, especially for travel. You earn . Rewards are earned as a rewards certificate that arrives with your February statement, that can be redeemed for purchases or cash back at Costco stores. Costco customers also love booking travel through Costco, which can offer some exceptional discounts. And if you’re business purchases gas for travel or other reasons, it’s hard to beat this card’s cash back bonus offer for purchases at gas stations.
How to Choose a Business Credit Card for Travel
There’s no one travel rewards credit card that’s right for all small business owners, and you need to choose the card that offers the best combination of features and rewards for your needs. For example, if airport business lounge access is a top priority, then the Business Platinum card might be ideal for you. But if you’re more concerned with earning miles from a particular airline or points from your favorite hotel chain, then it might be best to choose a card co-branded with one of those programs.
Ways to Get the Most From Business Credit Card Travel Rewards
First, you’ll want to make sure to earn the new account bonus, as most cards will require you to meet a minimum spending requirement to earn the bonus. You’ll also want to familiarize yourself with all the features and benefits the card offers. And with some cards, you might have to activate certain benefits to utilize them.
How to Qualify for a Business Credit Card for Travel
Most premium rewards cards will require excellent credit, although you can be approved with merely good credit. Also keep in mind that your credit score will be one of many factors considered by card issuers.
How to Apply for a Business Credit Card for Travel
You can apply for nearly any credit card online. You’ll need your business’s Employer Identification Number (EIN). But if you don’t have one, then you may be able to use your Social Security Number instead. You’ll also need to supply information about the type of business you have, whether it’s incorporated and what your revenue projections are.
Are Travel Expenses for Business Deductible From Taxes?
It depends on the travel expense. Qualified business travel expenses may include transportation, lodging, meals, and other necessary expenses while away from home for business purposes. The Internal Revenue Service (IRS) provides guidelines on what constitutes deductible business expenses, and certain conditions must be met to qualify for these deductions.
Best Practices to Deduct Travel Expenses
Deducting travel expenses from taxes involves following certain best practices to ensure compliance with tax regulations.
Here are some general best practices:
Follow IRS guidelines
- In the United States, follow the guidelines provided by the IRS for deductible business expenses, as outlined in publications such as IRS Publication 463.
- Understand any specific rules or limitations, such as the 50% limit on meals and entertainment expenses.
Document everything
- Keep detailed records of all travel-related expenses, including receipts, invoices, and any other supporting documentation.
- Maintain a travel log that includes the purpose of the trip, dates, locations, and a breakdown of expenses.
Understand eligible expenses
- Familiarize yourself with the tax laws and regulations governing deductible travel expenses in your jurisdiction.
- Generally, eligible expenses may include transportation (airfare, mileage), lodging, meals, and business-related costs.
Separate business and personal expenses
- Keep personal and business expenses separate to avoid complications during tax filing.
- Use a dedicated business credit card or bank account for all business-related transactions.
Maintain proper documentation for lodging
- Keep hotel invoices and receipts that detail the business-related portion of your stay.
- Be prepared to demonstrate that the lodging expenses were necessary for the business purpose of the trip.
Keep track of meals
- Document meal expenses and note the business purpose and attendees.
- Be aware of the limitations on deducting meals, as only 50% of meal expenses may be deductible in many jurisdictions.
Record transportation costs
- Keep records of transportation expenses, including airfare, train tickets, rental cars, and mileage.
- If using your personal vehicle for business travel, keep a mileage log with details of each trip.
Stay within reasonable limits
- Expenses must be reasonable and necessary for business purposes. Excessive or extravagant expenses may not be fully deductible.
Utilize per diem rates (if applicable)
- Some jurisdictions allow the use of per diem rates for meals and incidental expenses instead of itemizing each expense. Check if this option is available to you.
Which Business Credit Cards Have No Foreign Transaction Fees?
Most travel rewards cards for small business owners no longer have foreign transaction fees. The best way to determine if a card doesn’t have a fee, is to check its terms and conditions before applying.
Bottom Line
If you’re a business owner and are traveling for business, then you’ll want to use a business credit card to earn as many points and miles as possible, while enjoying travel perks and benefits. By taking a close look at one of these top business credit cards, you’ll find the one that’s right for you.
This article was originally written on January 24, 2022 and updated on April 10, 2024.
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