Best business credit cards

Business credit cards are a helpful financial tool for entrepreneurs and companies that can save time, money, and hassle. Track business expenses and earn rewards that can be redeemed for flights, hotels, and other treats.

By   |   Verified by David Boyd   |   Updated 6 Nov 2023

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Comparing business credit cards

American Express Singapore Airlines Business Credit Card

On website

FeaturedApply by 28 February 2024

American Express Singapore Airlines Business Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

57,200 points

Highlights

  • Enjoy a welcome offer of your choice and travel rewards worth over S$1,200: Earn up to 68,000 HighFlyer points or a Samsonite luggage, a complimentary Accor Plus membership worth S$418 offering a free night’s stay every year, and up to 20,000 HighFlyer points worth S$190 when you spend with the Singapore Airlines Group. Terms and Conditions apply.
  • Earn up to 8.5 HighFlyer points per S$1 spent on eligible Singapore Airlines Group flights.
  • Earn 1.8 HighFlyer points per S$1 spent on all other eligible spend.

Pros

  • Earn generous welcome offers.
  • Enjoy Priority Pass membership with two complimentary visits per year for you and a guest.
  • Fast-track to KrisFlyer Elite Gold status with S$15,000 spent with the Singapore Airlines Group within the first 12 months.
  • Offers 51 interest-free days.
  • Flexible payment with Pay Small.

Cons

  • The annual fee of S$301.79 p.a (inclusive of 8% GST).
Aspire Corporate Card

Aspire Corporate Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Enjoy 5% upsized cashback on qualified transactions when you apply and get approved. Use promo code SGJU5 on or before 30 September 2023. Terms and Conditions apply.

Highlights

  • 1% Cashback valid on eligible Marketing & SaaS purchases up to $1,000 per month.
  • 0.7% fee for FX, 5x cheaper than banks.
  • Available features: auto-categorization, FaceID/Fingerprint security, multi-user access, multi-cards (1 card per user).
  • No annual fees, minimum spends, or hidden charges.

Pros

  • You can issue unlimited virtual cards to employees.
  • Get real-time control and visibility on transactions.
  • Save on FX fees, with multicurrency corporate cards.

Cons

  • No credit limit.
  • No physical card available.
Volopay Business Card

Volopay Business Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

N/A

Highlights

  • Streamline expenses with corporate cards featuring proactive controls, simple loading, spending, and effortless expense tracking.
  • Offers money transfers, corporate credit cards, and other services for your business requirements.
  • Transfer funds to 130+ countries with competitive pricing and no hidden fees.


Pros

  • Simple and easy to use.
  • Manage and control employee cards conveniently.
  • Get a physical and virtual corporate card.
  • Pay $0 for its Standard Plan.

Cons

  • If your company has large international transactions, you may have to pay more for the Volopay Pro Plan.
DBS World Business Card

DBS World Business Card

Cashback

Up to 2.00% on any foreign currency spend

Cashback cap

$150.00 on any spend

Minimum spend

S$1,000.00 per month, every 3 months

Sign up bonus

Receive a 5% cashback when you spend a minimum of S$3,000 within the first 3 months of card issuance. Terms and Conditions apply.

Highlights

  • Earn 2% cashback on Foreign Currency transactions and 1% cashback on local dining, entertainment, and travel transactions.
  • Get up to 10 complimentary visits per year to over 1,000 airport lounges worldwide.
  • Enjoy business and partner deals such as fuel discounts, dining promos, and more.

Pros

  • Earn 0.3% cashback on other transactions.
  • Up to US$1.65 million employee misuse coverage.
  • 1st year annual fee is waived.
  • Get up to 55 interest-free days.

Cons

  • After the initial year, there is a S$410.40 annual fee.
UOB Regal Business Metal Card

UOB Regal Business Metal Card

Cashback

Up to 2.00% on any foreign currency spend

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Craft your own tailored shirt with MARLO plus get a S$100 cash credit.

Highlights

  • Enjoy up to 2% cashback on overseas spending and dining spend.
  • Enjoy up to 1.5% cashback on all local transactions.
  • Get unlimited access to over 1,300 airport lounges in more than 140 countries worldwide.

Pros

  • Includes exclusive health screening packages.
  • Get complimentary travel insurance worth up to US$500,000
  • Get up to 20% off on dining deals.
  • Exclusive wine deals and birthday perks.
  • Enjoy 4 complimentary green fees or golf lessons (worth S$2,200) per calendar year.

Cons

  • By invitation only.
  • The annual fee of S$686.36 cannot be waived.
Citi Business Card

Citi Business Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

None

Highlights

  • Earn 2X rewards per S$1 spent on eligible transactions
  • Waived 1st year annual fee.
  • Get an additional business credit limit of up to S$100,000.

Pros

  • Get complimentary travel insurance.
  • Up to 55 interest-free days.
  • Includes complimentary corporate liability waiver insurance.
  • Redeem earned points for cash rebates or other rewards.

Cons

  • The annual fee is waived for the 1st year, but $150 thereafter.
Airwallex Borderless Card

Airwallex Borderless Card

Cashback

1% on any spend

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

None

Highlights

  • Provide your team members with multi-currency employee cards
  • Earn 1% cashback on all eligible transactions.
  • No international transaction fees.

Pros

  • Create an account in just a few minutes.
  • Earn unlimited cashback.
  • No monthly fees.
  • Supports over 140 currencies.

Cons

  • Certain features come with an associated fee..
OCBC Business Credit Card

OCBC Business Credit Card

Cashback

Up to 1% on any foreign currency spend

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

None

Highlights

  • Earn a 3% cashback on your business transactions at selected eco-friendly merchants.
  • Earn 1% on overseas transactions and 0.2% on local transactions.
  • Get up to 53 interest-free days.

Pros

  • No minimum spending is required
  • Unlimited cashback.
  • See your carbon footprint with the Sustainability Spend Index feature.

Cons

  • By invitation only.
Maybank Business Platinum Mastercard

Maybank Business Platinum Mastercard

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Receive vouchers when you get approved and meet the spending criteria.

Highlights

  • Receive S$150 NTUC and S$100 Takashimaya vouchers when you meet the spending criteria.
  • Complimentary travel insurance of up to S$1 million.
  • 2-year annual fee waiver.

Pros

  • Includes concierge services
  • Get TREATS points for every dollar spent.
  • Compatible with Apple Pay and Samsung Pay.

Cons

  • After 2 years, you will have to pay S$180 annual fee.
  • There is a 3.25% foreign currency transaction fee.

Who are business credit cards suitable for?

  • Small business owners. For those running a small business with a trading history and accounts, a business credit card can help manage expenses and provide access to much-needed credit.
  • Freelancers. Depending on your trading setup, freelancers who have been trading and have the accounts to prove it may be eligible for a business credit card. One of the key benefits is the separation of personal and business costs — and rewards. The typical business credit card has a better earn rate than a credit card for personal use.
  • Larger businesses. Business credit cards make it easy to issue cards to multiple employees, each typically with individual spending limits and transaction breakdowns, allowing for simpler expense tracking.

Who a business credit card is unsuitable for

Business credit cards are designed to meet the financial needs of businesses, both large and small. But, they most certainly are not suitable for everyone.

  • Personal users. Mixing personal and business expenses can complicate accounting and potentially lead to legal issues. Documentation required during application will not be available for individuals.
  • Startups or struggling businesses. You'll need to provide evidence of revenue and profit, typically with accounts. If you don't have that trading history because your business is relatively new or has been experiencing difficulty trading, it may be challenging to get approved.
  • Sole proprietors with low expenses. Leaner businesses might struggle to extract meaningful value out of the rewards and benefits business credit cards offer, especially after factoring in the cost of the annual fee and/or interest (if applied to a balance carried over).
  • Those unwilling to personally guarantee. If you're not willing to personally guarantee the debt and take on liability, a business credit card may not be suitable.

What to compare for business credit cards

  • Rewards. What types of credit card rewards are available? Will what you typically need to buy to operate your business — merchandise, stock, services, travel, etc. — be eligible to earn rewards points?
  • Redemption options. What airlines are partners of the rewards program? Are you locked into Singapore Airlines or are there multiple transfer partners, like what American Express offer with their Membership Rewards transfer partners?
  • Lounge access. Will you get access to lounges at Changi and other airports outside Singapore? Who can use the passes? Will you have access to the KrisFlyer lounges or can you get in with Priority Pass / LoungeKey?
  • Charge or credit. Many issuers offer businesses charge cards rather than credit cards. They work the same way, with the main distinction being you need to pay off a charge card each month. Be clear about what you're applying for.
  • Employee cards. How many cards can be linked to the same business account, and can you set separate spending limits for each employee?
  • Interest rates and fees. How competitive are the annual fees and interest rates for each card you're considering? Are there any hidden fees lurking in the small print? For businesses with suppliers and staff abroad, do you get fee-free foreign transactions?
  • Accounting feed integration. Can you get a feed from the bank to your accounting software for easier reconciliation? For example, will you be able to integrate with Xero?

How to compare business credit cards

  1. Evaluate your business needs. Consider your business's spending habits and if a credit card would help smooth out the peaks and troughs. Perhaps you don't need a credit card at all?
  2. Research available business credit cards. Compile a list of business credit cards that meet your requirements, noting important details such as interest rates, fees, and rewards.
  3. Compare rewards and benefits. Assess which card's offerings align best with your business needs and preferences.
  4. Check eligibility requirements. Ensure your business meets the minimum criteria for applying for your chosen card.
  5. Apply. Once you have found the perfect card for your business, apply and await approval from the bank. Avoid applying for multiple cards within a short period of time.
  6. Hit the spending target. Don't forget you'll need to put a certain amount of spend through the card if you want to secure the welcome bonus.

Pros and cons

Pros

  • Earn rewards. Business credit cards frequently offer attractive rewards like cashback, travel perks, and point accumulation.
  • Useful credit. A business credit card can provide a convenient short-term line of credit when cash flow is tight.
  • Streamlined expense tracking. Business credit cards help separate personal and professional expenses, making it simpler to manage finances.
  • Cards for staff. Control and track how much staff spend on business expenses.

Cons

  • Potential debt. Business credit card debt can accumulate quickly if not managed carefully, potentially leading to financial hardship.
  • Annual fees and interest rates. Business credit cards may have higher annual fees and interest rates, reducing the overall value of their rewards and benefits.

FAQs

How does a business credit card impact my personal credit score?

A business credit card's impact on your personal credit score varies between banks and your business structure. However, ensuring timely repayments and controlling the balance owed will generally benefit personal and business credit scores.

Can a personal credit card balance be transferred to a business credit card?

Transferring a balance from a personal to a business card is generally not permitted.