The 10 best business credit cards with no annual fee for October 2024

If you’re curious about your options for business credit cards with no annual fees, we’ve got you covered.

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This article will list our top picks for no-annual-fee business credit cards, the benefits of no-fee cards, and how to choose the best credit card offer for your business needs.

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Best business credit cards with no annual fee

Many no-annual-fee business credit cards are available, but the best ones stand out for offering a large welcome bonus, above-average earning rates, and notable ongoing benefits. Depending on your business’ specific needs, the best no–annual-fee card for you may be one that focuses on cashback, travel rewards, etc.

Best overall card: Ramp Business Credit Card

The Ramp Business Credit Card is a top choice for businesses seeking robust expense management and automation features. It offers real-time spend controls, automated receipt matching, and accounting integrations, which streamline financial operations. Additionally, companies can expect up to 5% net savings on average due to its ability to uncover hidden savings opportunities.

Best for travel rewards: Bank of America Business Advantage Travel Rewards World Mastercard®

This card should be a consideration for businesses with significant travel expenses. It earns 3 points per dollar spent on travel purchases booked through the Bank of America Travel Center and 1.5 points on all other purchases. There are no annual fees or foreign transaction fees, making it a cost-effective choice for frequent business travelers.

Best for flat-rate rewards: Chase Ink Business Unlimited® Credit Card

The Chase Ink Business Unlimited® Credit Card offers a simple and straightforward rewards structure for businesses with diverse spending categories, with unlimited 1.5% cash back on every purchase. There’s no need to track spending caps or categories, and the rewards can be redeemed for cash back, gift cards, or travel.

Best for office supplies: Chase Ink Business Cash® Credit Card

This card is tailored for businesses that spend heavily on office-related expenses. It offers 5% cash back on the first $25,000 spent annually on combined purchases at office supply stores and on internet, cable, and phone services. Additionally, it provides 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year.

Best for simple cashback: Capital One Spark Cash Select for Excellent Credit

With this card, businesses can earn unlimited 1.5% cash back on every purchase, making it a hassle-free option for earning rewards. It has no annual fee and straightforward terms, making it perfect for those who prefer a simple and effective way to accumulate cash back on all their spending.

Best for flexible cashback: American Express Blue Business Cash™ Card

This card offers 1.5% cash back on all eligible purchases, up to $50,000 per calendar year, without the hassle of rotating categories or caps. The cash back is automatically credited to your statement, making it a flexible and user-friendly option for small businesses looking for consistent rewards.

Best for points-based rewards: American Express Blue Business Plus

The American Express Blue Business Plus card should be considered for businesses that prefer points-based rewards. It offers 2X Membership Rewards® points on the first $50,000 in purchases each year, then 1X points thereafter. Points can be redeemed for travel, gift cards, or statement credits, providing versatility in how rewards are used.

Best for welcome offer: Capital One Spark Cash Select for Excellent Credit

The Capital One Spark Cash Select offers a welcome bonus of $750 after spending $6,000 within the first three months. This bonus, combined with unlimited 1.5% cash back, makes it an appealing option for businesses looking to make a significant purchase and benefit from immediate rewards.

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Do all business credit cards have annual fees?

Not all business credit cards have annual fees. There are several card offers on the market with no annual fee, offering a cost-effective option for small business owners or startups. Corporate credit cards are another option that often come with no annual fees.

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10 best business credit cards with no annual fee

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Can I get a business credit card without an LLC?

There are credit card options for businesses without an LLC structure. Many small business credit cards are available to anyone, including sole proprietors and freelancers. You’ll usually just have to show that you’re making money independently, and you will have to use your Social Security number to apply if you don’t have a tax ID number for your business.

Which business credit cards only require anEIN?

Many unsecured business credit cards, secured credit cards, and corporate cards only require an EIN to apply. Some providers will ask for your SSN as well, but won’t use it to perform a personal credit check. If you want a card that only requires EIN and doesn’t ask for your SSN, consider a corporate card.

Benefits of a business credit card with no annual fee

Businesses of all sizes can enjoy several benefits from business credit cards without an annual fee. For one, it’s often easier for new businesses to qualify for these cards. Many of them are made for companies with recently established credit, so you won’t need an excellent credit history to apply.

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Since the card doesn’t cost your business anything, getting and keeping a no-annual-fee card open is a great way to build a positive credit profile. You won’t need to worry about finding ways to offset the cost of the card. Instead of paying to qualify for future savings, you can earn cashback on purchases immediately.

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Rewards and discount options for business credit cards with no annual fees

The best business credit cards with no annual fees will also come with a good rewards program.

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With all the different rewards credit cards on the market, you’re likely wondering how each credit card reward works. Here’s what you need to know about the types of credit card rewards you might encounter.

‍Points systems

A points system allows you to accumulate points based on the spend amount or spend percentage. For example, some cards may offer 1 point for every $1 you spend on everyday business purchases but 3 points for streaming services or rideshares. Each issuer's reward rates, conversion rates, and redemption options will vary based on the card. 

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With rewards points, your business earns points instead of dollars. The value of your points depends on what you redeem them for. Imagine you’ve accumulated 40,000 points, and redeemed these for a $400 flight, then your points are worth one cent each. However, if you manage to search for another flight for $800, the point value has now doubled to two cents each. These points can be redeemed for various items, such as gas gift cards, travel purchases, merchandise, cashback, or even charitable donations.

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Some cards give cardholders an additional way to earn bonus points through a welcome offer or sign-up bonus offer. Points systems let you earn points based on your spending. For example, the American Express Blue Business Plus offers 2X Membership Rewards points on the first $50,000 spent annually and 1X point on all other purchases. Points can be redeemed for travel, gift cards, merchandise, or even cashback. After opening your account, you’ll need to meet a spending requirement in a predetermined time window. For example, spending $5,000 in 3 months after account opening could get you an additional 50,000 points.

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To redeem your points, your card issuer will typically require you to enter their rewards center to view your redemption options. When redeeming points, make sure to review all your potential redemptions. Since the value can change based on the rewards, checking with your issuer before making any final purchases is best.

Gift card and statement credits

Many credit cards reward cardholders with gift cards or statement credits. For example, your credit card may reward you with a $50 gift to a popular e-commerce site as a welcome bonus and then 5% on each purchase made from the same site after that. Your card may also offer 1-3% on purchases from gas stations, phone services, or office supply stores.

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The Chase Ink Business Cash Credit Card provides 5% cash back on office supplies and internet, cable, and phone services, making it easier to redeem those earnings as statement credits or gift cards. With statement credits, you’‍ll get money credited to your account after making specific purchases, helping to bring down your balance.

Cashback

Cashback rewards systems are fairly straightforward. Each time you use your card to make a purchase, you’ll get a percentage of the purchase back in cash. Let’s say you have a cashback rate of 1.5% on eligible purchases. A purchase of $100 puts $1.50 into your rewards account. Most cards allow you to redeem these rewards through a deposit to your bank account, a credit to your account balance, or pre-paid gift cards.

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Many cashback credit cards may offer you benefits to enjoy additional savings. The card might offer you extended warranties, return guarantees, purchase protection, or the lowest-advertised price match. These extra perks vary between issuers, so check your card’s benefits guide for its terms. 

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While some credit cards offer a flat cashback rate on all purchases, others offer bonus categories with higher cashback rates. For instance, you might enjoy a cashback rate of 1% on all purchases but get 5% cashback on all travel purchases booked through their online portal. The Capital One Spark Cash Select for Excellent Credit offers unlimited 1.5% cashback on all purchases. Rewards can be redeemed as deposits into your bank account or credits toward your card balance.

Miles rewards

Miles rewards are similar to points systems. For each dollar you spend, you earn miles that work as travel currency. Miles-earning business credit cards allow companies to redeem miles for travel rewards like discounted flights, access to airport lounges, seat upgrades, hotel stays, and other travel expenses.

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Frequent flyers often choose cards that offer additional miles in travel categories to get the most miles. When using miles to book a flight or hotel stay, you’ll need to sign in to your card issuer’s online portal. If you need to book with a different airline, some travel cards give cardholders the option to transfer their points to travel partners.

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If travel is a priority, cards like the Bank of America Business Advantage Travel Rewards Mastercard earn 3 points per dollar on travel booked through the Bank of America Travel Center and 1.5 points per dollar on other purchases. Miles can be redeemed for flights, hotel stays, or travel upgrades.

0% intro APR

Some cards offer a 0% introductory APR, like the Chase Ink Business Unlimited card, which provides 0% APR for 12 months on purchases, making it a good option for businesses needing time to pay off purchases without interest. The introductory period can range from six to twenty-one months, but the most common period is one calendar year from account opening. During this time, you won’t pay interest on any purchases or transactions you make.

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Some credit cards may also apply the 0% intro APR rate to balance transfers—just check what terms apply. Once the 0% intro APR period is over, you’ll be subject to a variable APR percentage from your card issuer.

‍Anniversary bonuses

Anniversary bonuses will entitle you to some reward every account anniversary year. That is, every 12 months since you’ve opened your card. This reward could be bonus cash, travel rewards, or extra rewards points to redeem. Discover it Business Card doubles all cash back earned at the end of the first year, providing a significant anniversary bonus.

Insurance coverage

Certain credit cards provide insurance coverage for car rentals if you use your credit card to book the rental. Instead of the basic insurance offered by the rental company, your card could give you access to more thorough coverage. They may also provide rideshare protection or reimbursements for delayed flights if they offer this coverage. The American Express Blue Business Cash Card offers car rental loss and damage insurance, providing peace of mind when booking rentals with the card.

Get a Ramp business credit card with no annual fee

If you’re looking for a fee-free card for your business, consider Ramp. Our business credit cards come with no annual fees, late fees, card replacement fees, or interest. Plus, earn cashback on purchases.

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All you need to sign up for Ramp is an EIN number attached to a registered business and at least $50,000 in a U.S. bank account for your business. We don’t need your SSN or business credit score. Plus, our e-commerce underwriting program may help you get a higher credit limit than a traditional credit card.

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Ramp’s spend management software and real-time insights also help you manage business expenses and get control of your cash flow. We also empower employees to spend responsibly with customizable spend limits and vendor controls on unlimited free employee business cards.