A small business can be a challenge. Every decision you make is crucial, whether managing your business or maintaining a healthy financial situation. Right business credit cards are a tool that can be very useful. It can be difficult to find the best credit card in Australia. You can streamline your financial management by choosing carefully.
You can improve your business’ credit rating and cash flow by finding the best small business credit cards. This guide explores our top choices for the best Australian small business cards and provides insights into how to maximize their benefits. Now, let’s see what makes them stand out.
Featured Best Small Business Credit Cards
The American Express® Platinum Business Card
Earn 350,000 Membership Rewards® Bonus Points
when you apply by 5 November 2024, are approved and spend $12,000 on eligible purchases on your new American Express® Platinum Business Card within 3 months of your approval date.
- Charge Card: No pre-set spending limit
- Annual Fee: $1,750 p.a
- 2.25 POINTS: per $1 spent
American Express® Qantas Business Rewards Card
Earn 130,000 bonus Qantas Points
when you apply by 14 January 2025, are approved and spend $3,000 on eligible purchases on your new American Express® Qantas Business Rewards Card within 2 months of your approval date.
- Charge Card: No pre-set spending limit
- Annual Fee: $450 p.a
- 2 POINTS: per $1 spent
American Express® Business Gold Plus Card
Earn 150,000 Membership Rewards® Bonus Points
When you apply by 11 February 2025, are approved and spend $5,000 on eligible purchases on your new American Express® Business Gold Plus Card within 3 months of your approval date.
- Charge Card: No pre-set spending limit
- Annual Fee: $395 p.a
- 3 POINTS: per $1 spent
Cape Mastercard Interest-Free Days Business Credit Card
Card fee$0 for first month
This is the corporate credit card your bank would rather you not know about. Cape Mastercard Business Credit Card allows business owners to control their cash flow by reducing unnecessary spending, saving time spent on bookkeeping, and providing a simple payment plan with no hidden charges.
- Cash flow Up to 30
- Credit limits $5k – $500k
American Express Business Explorer Credit Card
Sign up bonus 50,000
This card is tied into the Amex Member Rewards program. This means that you can store your points and, when ready, send them on to many airlines (but not Qantas) and loyalty programs for hotels. This card is a credit, not a debit card like many Amex Business Cards. The annual fee is 23.99%, which is not cheap. You can have 99 employee cards without any additional cost.
- Purchase rate 23.99%
- Cash flow Up to 55
- Card fee $149
ANZ Business Black Credit Card
Sign up bonus 100,000
- Purchase rate 20.24%
- Cash flow Up to 55
- Card fee $300
This card’s black colour means it is expensive. The annual fee, $375, includes rewards enrollment. The deal is sweetened by 100,000 bonus sign-up points if you spend the minimum and meet other eligibility criteria. With ANZ, it comes with travel coverage. The revolve rate for the year is 20.24%. Purchases are cheaper but still steeper than Amex. Applying for the card is easy. You only need $75K in sales, an ABN, and six months’ trading. This card isn’t bad at all for a Visa, but be sure to take advantage of the many benefits. The earning rate is good, but you should know about the conversion to frequent-flyer points. It’s a real pain.
American Express® Business Gold Plus Card
Sign up bonus 150,000
- Purchase rate –
- Cash flow Up to 55
- Card fee $395
Highlights include a sleek, metal card for Primary Card Members and up to $550 of credit in your account if spent with selected business suppliers. There is also an accelerated rewards rate that includes 3 points per dollar at Xero, Google Ads, Meta, Amazon Web Services, and Dell; AccessLine (r) (2 points per £1 spent subject to approval); 1.5 points per £1 on daily spend; 1 point per £1 on government spending, including ATO. Accelerated earnings rates apply for the first 200,000 earned points in a calendar year. After that, you’ll earn one point per dollar spent across all categories. Cardholders get several travel benefits plus 55 days for payment.
NAB Rewards Business Signature Credit Card
Sign up bonus 100,000
- Purchase rate 18.50%
- Cash flow Up to 44
- Card fee $175
Spending $4000 in 60 days and getting 100,000 NAB points is a good deal. You can transfer the points to any airline (except Qantas). The card has all of NAB’s usual features: 44 interest-free days, 18.50% p.a. The card charges $175 a year in interest, and you will also be charged an annual fee of $150. These fees should be added to the points you earn so that you can calculate the net benefit. Will you ever get enough rewards to cover your card fees?
How to get the best deal on a small business credit cards
1 Maximise interest-free days
Interest-free days improve your cash flow by giving you additional time to pay back your balance. Money.com.au analyzed the data and found that 55 was the highest possible.
2 Compare interest rate
Saving money on interest rates is important for your business if your card has a revolving credit balance from month to month. You should also be wary of cash advance fees.
3 Avoid card fees
Include the annual charge, any extra fees for cardholders, foreign transaction charges, cash advance charges and all other costs associated with the card.
4 Compare the reward points for each $1 spent.
How many points can you get from your purchase? You should read the fine print, as some spending may not be eligible to earn at the maximum rate.
5 Choose rewards that your business will use.
Pick a reward card that matches your business costs and rewards needs. For example, a frequent flier card will not make sense if you have no business travel plans.
6 What is the best credit limit?
Your business can benefit from a higher credit limit. However, this may require more management and affect future borrowing capacity.
7 Additional cards
Consider choosing a card issuer that provides additional cards if your employees make purchases for business. This can help you track expenses more easily and maximize your rewards. You can avoid paying high fees on additional cards.
