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For business owners who spend a considerable amount of money on certain categories per month, a cash back business credit card that will reward you with a generous return would be a savvy move. Here is a rundown of the basics.

What is a cash back business credit card?

Cash back business credit cards are credit cards that are geared toward small-business owners who want to earn cash rewards on their business purchases.

The best business credit card would be the one that gives the most cash back rewards for purchase categories you spend the most on—for example, gas, internet, or office supplies—and will offset your business expenses. Usually, all other expenses will also gain cash back rewards but in smaller amounts.

Having a business credit card of any sort helps to keep business and personal accounts separate. By obtaining a cash back business credit card, your small business will get money back for your normal business spending, which is an easy way to earn. 

How does a cash back business credit card work?

The way that a cash back business credit card works is fairly simple. Every time cardholders purchase with your cash back business credit card, you will earn a percentage back.

As each credit card company’s terms differ, so do percentage rates on certain spending categories. For example, a particular credit card may grant 3% back on all office supply purchases while offering only 2% at gas stations.

The more you spend, the more you will earn. Your cash back rewards will accumulate in your card account and become redeemable in different forms. Some credit card companies will give cash-back in the form of cash, or some will grant different options for cash-back rewards such as credit to your account, gift cards, or an electric deposit into a linked bank account.

Usually, cash back rewards credit cards often carry a higher APR, and there can be a cap on the amount of cash back you can earn in one year. But on the upside, the cash-back rewards on large amounts of spending per year outweigh the negatives of holding a cash back business credit card.

Below we have outlined our top choices for cash back credit cards for 2023. 

The best cash back business credit cards of 2023

Now that we’ve covered the basics, let’s take a look at the best cash back business credit cards of 2023.

1

Ink Business Unlimited® Credit Card

Annual Fee:$0/year

APR17.74% – 23.74% variable

Recommended credit scoreGood-Excellent, 670-850

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Best Overall Cash Back Business Credit Card

Welcome bonus: Earn $750 bonus cash back after spending $6,000 on purchases within the first three months from account opening.

Annual fee: $0

Regular APR: 17.74% to 23.74% variable

Recommended credit score: Good-Excellent, 670-850

The Chase Ink Business Unlimited Credit Card is our top choice for the best overall cash back business credit card because they offer a simple, flat rate rewards program for business purchases which makes it easier to maintain as a busy business owner.

This credit card offers 1.5% cash back rewards on every single business purchase with no limits on the amount you can earn. They also have a flexible redemption process in which you can redeem your rewards in cash, gift cards, travel, and more through the Chase Ultimate Rewards program.

Another great benefit of this business credit card is that there is 0% APR on purchases for the first 12 months of account opening, then 17.74% – 23.74% variable. You can earn rewards even faster with unlimited employee credit cards at no additional cost.

If you are looking to make an easy 1.5% back on every single business purchase, the Chase Ink Business Unlimited Credit Card is the best cash back business credit card for you.

2

Ink Business Cash® Credit Card

Annual Fee$0/year

APR17.74% to 23.74% variable

Recommended credit scoreGood-Excellent, 670-850

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Best For Purchasing in Bonus Categories

Welcome bonus: Earn $750 bonus cash back rewards after you spend $6,000 on purchases in the first three months from account opening.

Annual fee: $0

Regular APR: 17.74% to 23.74% variable

Recommended credit score: Good-Excellent, 670-850

The Chase Ink Business Cash Credit Card is the best cash back credit card for making purchases in certain bonus categories.

With this card, you can earn $750 bonus cash back after you spend $6,000 on purchases within the first three months from account opening, and it has no annual fee. Upon account opening, there is a 0% intro APR on purchases for the first 12 months, then 17.74% – 23.74% variable.

The rewards program consists of 5% cash back rewards on the first $25,000 spent on office supplies, internet, cable, and phone services. You can earn 2% cash back rewards on the first $25,000 spent in combined purchases made at gas stations and restaurants and 1% cash back on all other purchases.

Similarly to the Chase Ink Business Unlimited Credit Card, you can redeem your accumulated points for cash back, gift cards, travel, and more through the Chase Ultimate Rewards program. Additionally, you can earn rewards fast by distributing employee credit cards at no extra cost.

Opening up a Chase Ink Business Cash Credit Card may be beneficial if you make business purchases that lean on certain categories, such as office supplies or cable. 

3

The American Express Blue Business Cash™ Card

Annual fee$0/year

APR18.24% to 26.24% variable, see rates and fees

Recommended credit scoreGood-Excellent, 670-850

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Best for Small Businesses

Annual fee: $0 annual fee

Regular APR: 18.24% to 26.24% variable, See Rates and Fees

Recommended credit score: Good-Excellent, 670-850

The American Express Blue Business Cash Card is best for small businesses that spend less than $50,000 annually. The reason is that you can earn 2% cash back on the first $50,000 on all purchases and 1% on any purchase after $50,000. Terms Apply.

When you earn cash back, it is credited back to your statement. This card has a $0 annual fee and has an introductory 0% APR on purchases for the first 12 months upon account opening, then 18.24% to 26.24% variable. 

Due to the cap on rewards benefits, the card may seem less appealing to bigger business owners who spend well over $50,000 in purchases per calendar year. This card would be ideal for owners who spend significantly less than $50,000.

4

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

Annual fee$0/year

APR16.74% to 26.74% variable

Recommended credit scoreExcellent, 740-850

Learn MoreOn Bank of America’s Website
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Best for Customizable Rewards

Welcome bonus: $300 statement credit when you spend $3,000 on Purchases within 90 days

Annual fee: $0

Regular APR: 16.74% to 26.74% variable APR

Recommended credit score: Excellent, 740-850

The Bank of America Business Advantage Customized Cash Rewards Mastercard is the best choice for business owners who enjoy customizing their purchase categories to maximize their cash back benefits.

This card has major perks, with a welcome bonus of $300 when you spend $3,000 within 90 days and 0% APR on purchases for the first 9 months upon account opening, then 16.74% – 26.74% variable APR. Some benefits and rewards this card offers include 3% on select purchase categories that you spend the most money on, and 2% back on dining purchases for the first $50,000 in combined choice category and dining purchases each calendar year, and 1% cash back on all other purchases.

You can earn even more cash back, up to 75% more on every purchase, if you have a business checking account with Bank of America and qualify for their highest Preferred Rewards for Business tier. In other words, you can potentially earn up to 5.25% on your selected category, 3.5% on dining purchases, and an unlimited 1.75% on all other purchases.

If you spend a lot more on one specific area of your business, being able to customize your purchase category for 3% cash back rewards with the Bank of America Business Advantage Customized Cash Rewards Mastercard may be ideal for you and your business needs.

The bottom line

Business owners must separate their personal and business accounts. One way of doing this is by opening up a business credit card. As there are many business credit cards out there, a popular option would be to open up a cash back business credit card and earn rewards while making required purchases for your business.

Learn more about starting a business and getting proper funding by visiting our website

Information provided on Entrepreneur Guide is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, we do not recommend or advise individuals to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results

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