A guide to business credit cards

Whether to get a small business credit card - and which one to apply for - is a matter of balancing features against interest and fees, and securing the best business credit card offer.

Ready to start looking? Check out our top cards below. 

Business Credit Cards Comparison Table - rates updated daily

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
  • Apply By 31 October 2021
    placeholder
    Bendigo Bank Low Rate Credit Card

    0% p.a. on purchases for up to 12 months (Reverts to 11.99% p.a). Also 0% balance transfer for up to 12 months. Low annual fee of $45 and no fees for additional cardholders.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    0% p.a. for 12 months then 11.99% p.a.
    0% p.a. for 12 months and then 11.99% p.a. (2.00% balance transfer fee)
    $45
    -
    Go to site
    Details
  • placeholder
    Great Southern Bank Low Rate Credit Card

    0% balance transfer rate for 25 months and up to 55 interest free days. No annual fee for the first year and $49 after. Mozo Experts Choice Balance Transfer Platinum Credit Card Winner 2020^

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    11.99% p.a.
    0% p.a. for 25 months and then 21.74% p.a.
    $49 $0 in the first year
    -
    Go to site
    Details
  • placeholder
    MoneyMe Freestyle Virtual Mastercard

    Use your virtual card instantly once approved (typically within 60 minutes). Features include Tap n Pay with up to 55 days interest-free, transfer money to any bank account and exclusive access to MoneyMe perks. $0 annual fee for lower limits. Must be employed with decent credit history.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    16.99% p.a.
    No current offer
    $209 $0 - $149 based on credit limit, $5/month for balances over $20.
    -
    Go to site
    Details
  • Apply By 10 October 2021
    placeholder
    humm90 Mastercard

    With up to 110 days interest free on your spending, this card is pretty unique in the market, and great for managing your daily spend. Plus, no foreign transaction fees overseas or online.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    23.99% p.a.
    No current offer
    $99
    -
    Go to site
    Details
  • placeholder
    Westpac Low Rate - Cashback Offer

    Enjoy a super low rate of 13.74% with 55 days interest free plus $400 Cashback with $4k+ spend on eligible purchases within 4 months of card approval. No annual card fee for the first year, $59 thereafter. New Cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.74% p.a.
    No current offer
    $59 $0 in the first year
    -
    Go to site
    Details

Credit card features and benefits

  • Accounting: credit cards can consolidate business expenses into one monthly payment, it's simple to monitor expenses - via multiple cards - with monthly and online statements.
  • Cash flow: if you're constantly juggling immediate expenses and uncertain payments, small business credit cards can tide you over - so long as the debt isn't only increasing.
  • Credit card rewards: paying for small business expenses via credit can add up to a valuable amount of rewards - especially handy for company travel.

Credit card interest and fees

  • Most business credit cards charge higher fees than personal accounts, although they're tax deductible.
  • Corporate credit cards typically have higher interest rates than the best low rate personal credit cards, so you'll want to keep ongoing debt to a minimum (or look at some small business loans).
  • Business credit card rewards typically involve large annual fees, so you'll want to get rewards value for fees.

Business credit card - or personal?

Many small business owners start out by using their personal credit card for business expenses. But is that the right call?

Advantages include:

  • Minimising fees (eg, annual fees) through fewer accounts
  • Better interest rates
  • Avoiding the pitfalls of multiple accounts - such as fees for missed payments
  • Maximising rewards
  • Avoiding the hassle of applications and credit checks

Disadvantages include:

  • Hassle of separating personal from business expenses
  • Difficulty of proving business expenses to tax office
  • Personal credit ratings can be damaged (if you miss payments or exceed your limit)

While it may be easier and more cost effective to use a personal credit card for business expenses when you're setting up - for ease, cheap interest rates and fewer fees - the accounting difficulties in the longer term will probably make a small business credit card desirable once you're up and running.

Ready to compare business credit cards for yourself? Make life easy by using Mozo's dedicated business credit card comparison table, or for an alternative funding source, why not check out some of the hottest business loan deals on the market. 

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.