Best Business Credit Cards of 2022

featured image

Key stats:

  • Base reward: 1x
  • Bonus Rewards: Quadruple spending up to $150,000 in two categories with the highest monthly spending: Airfare purchased directly from the airline. purchases for advertising; gas; computer hardware, software, and cloud solutions;restaurants; transportation
  • Signup bonus: 70,000 points when you spend $10,000 in the first 3 months
  • Use Membership Rewards to book flights with American Express Travel Pay with Points and get 25% back
  • Annual fee $295
  • No foreign transaction fees
  • APR: 16.49% to 24.49%, variable
  • Terms apply. View rates and fees

with american express business gold card Earn 1 Amex Rewards point for every dollar spent. It may be relatively unremarkable, but what makes this card stand out is the exceptional bonus rate of 4 points per dollar earned in either of the two most used bonus categories.

These categories include airfare, advertising, computing, restaurants, and delivery, which many companies tend to spend a lot of money on. Also, you don’t have to choose two categories to earn extra points. The point is—worth a penny each When redeemed for airfare through Amex — automatically applied to your top two eligible spend categories

Amex Business Gold has some drawbacks. This card has an annual fee of $295. Also, the bonus reward rate, which should be attractive to all but the largest companies, limits total annual spend in the bonus category to $150,000.

Still, the card’s lucrative bonus rewards and generous sign-up bonus of 70,000 points after spending $10,000 in the first three months have made it the WSJ’s buy side. Best Business Credit Cards of 2022.

Are the cashback rewards worth the fees?

To evaluate business credit cards, the WSJ buy side assumed a monthly spending budget of $10,000. (Details can be found below.) Based on that budget and the base 1-point redemption rate of the American Express Business Gold card, the first year he earned a sign-up bonus, he earned 190,000 points, and the first year he earned 120,000 points. You can earn other years.

Amex Membership Rewards points are worth one penny when redeemed for airline tickets on American Express Travel, and up to one penny when redeemed for gift cards and select online retailers. So, in a typical year, points are worth $1,200 when redeemed for travel, easily covering the $195 annual fee.

But again, where this card really excels is in bonus categories like travel and advertising purchases. Cardholders receive 4 points for every $1 spent in their top 2 spending categories, up to $150,000 in total category spending. Spend $10,000 monthly on the card and earn a bonus reward rate on half of your spend Earn 300,000 points per year.

It’s possible to find business credit cards with higher base rates, but for businesses spending heavily on one of the card’s broadly defined bonus categories, Amex Business Gold is hard to beat.

Card information that is often overlooked

The WSJ buy-side judges business credit cards primarily based on their rewards and business usefulness, but it’s important to understand all terms and conditions. Here are some other important points to keep in mind about the American Express Business Gold Card:

  • This American Express card is technically a charge card and you are expected to pay the full amount each month, but there is a “pay over time” option. It fluctuates from 16.49% to 24.49%.
  • It is the best card for overseas travel because there are no international transaction fees.
  • You can participate in a program called “The Hotel Collection with American Express”. Earn a $100 hotel credit and room upgrade (where available) upon arrival when you stay 2 consecutive nights or more at participating hotels using your American Express Travel card.
  • Car Rental Accident Insurance: If you rent a car with your card and the vehicle is damaged or stolen, you will be covered. This is secondary coverage after using your own auto insurance, but you can refuse to pay the car rental company’s Collision Damage Waiver. Some exclusions and limitations apply.
  • Baggage Insurance Plan: Protect your bags in the event of loss, damage or theft with coverage up to $1,250 for carry-on bags and $500 for checked bags. Airline, bus, and train tickets must be purchased with an American Express Business Gold card. Some exclusions and limitations apply.
  • TRAVEL DELAY INSURANCE: If you purchase round-trip travel on your American Express Business Gold Card and your travel is delayed by more than 12 hours, “We may be able to help” as stated on the card’s website. Terms and restrictions apply.
  • Extended Warranty: Receive an additional 1 year warranty when the original manufacturer’s warranty expires.
  • Buy protection. He is offered up to $1,000 indemnification if lost or stolen within 90 days of purchase.

Who Benefits Most From Americans? limited express business gold card

For businesses that spend a lot of money on this card’s rewards categories (advertising, computing, shipping, etc.), American Express Business Gold is a great way to earn extra rewards points. The card automatically rewards you in the two categories you spend the most in, meaning it’s relatively effortless to earn those points.

That said, if your business doesn’t spend a lot in the Amex Business Gold bonus category, look for a card that offers a higher overall reward rate than this card’s base rate of 1 point per dollar. Using it might give you better results.

The Capital One Spark Cash Plus Card offers 2% back on all spend. This is the highest overall rate found in the business cards category. It’s a charge card like Amex Gold. But it doesn’t have the flexibility of Amex’s “pay over time feature”. Failure to pay your balance in full each month will result in a late fee of 2.99%. The annual fee for Capital One Spark Cash Plus is $150.

If you’re looking for a business credit card with no annual fees and affordable reward rates as opposed to a charge card, consider the Chase Ink Business Unlimited® card, our choice of the Best Business Credit Cards for Simplicity . This card offers 1.5% cash back on your spend.

Our Best Business Credit Card Methodology

To pick the buy-side from WSJ’s Best Business Credit Cards, we looked for cards with the most generous cash back and point rewards, both overall and in common business spending categories like shipping, advertising, and travel. . I also looked for easy-to-use cards without gimmicks or complicated rules.

The $10,000 monthly credit card budget is based on data from credit bureau Experian, which showed that the average limit for commercial credit cards was $56,000 in the second quarter of 2022. assumed to use about 20% of About the same as the national averageThen I truncated it to keep things as simple as possible.

To see how we chose credit cards and meet our panel of experts, check you out too. WSJ’s Buy Side of Best Credit Card Methodologies.Eligibility and benefit levels vary by card. Terms and restrictions apply.Please come Amex for more information. Underwritten by the Amex Assurance Company.

Any advice, recommendations or rankings contained in this article are those of the WSJ editorial team buy-side and have not been reviewed or endorsed by our commercial partners.