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 2022
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    Westpac Low Rate - Cashback Offer

    Enjoy a super low rate of 13.74% with 55 days interest free plus up to $200 cashback - $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval. New Cards only. T&C's and exclusions apply.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.74% p.a.
    6.99% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)
    $59
    -
    Details
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    Mozo Experts Choice 2021
    American Express Qantas Ultimate Card

    Earn up to 100,000 bonus Qantas Points (75,000 bonus Qantas Points when you apply online by 23 August 2022, are approved, and spend $3,000 on your new Card within the first 3 months, plus an additional 25,000 Qantas Points in your second year upon fee renewal). T&Cs apply. New Card Members only.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    20.74% p.a.
    No current offer
    $450
    Qantas Frequent Flyer
    Details
  • Apply By 31 August 2022
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    St.George Vertigo - Balance Transfer Offer

    0% p.a. for 32 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.99% p.a.
    0% p.a. for 32 months and then 21.49% p.a.
    $55 $0 in the first year
    -
    Details
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    NAB Low Rate Card

    0% p.a. interest on balance transfers for the first 32 months, plus a low ongoing purchase rate after that means you can spend with confidence. There's also up to 55 interest free days on purchases to help you manage your budget better.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    12.99% p.a.
    0% p.a. for 32 months and then 21.74% p.a. (0% balance transfer fee)
    $59 $0 in the first year
    -
    Details
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    Mozo Experts Choice 2021
    American Express Platinum Edge Credit Card

    Receive a $200 credit on your Card when you spend $200 or more at Amazon.com.au within the first 3 months plus get 30,000 Bonus Membership Rewards Points when you apply online by 27 July 2022, are approved and spend $3,000 within the first 3 months. T&Cs apply. New Card Members only.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    20.74% p.a.
    No current offer
    $195
    Membership Rewards
    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.