8 of the top credit cards for nonprofits in 2023

Nonprofits have to juggle a lot of expenses. Day-to-day operating costs, larger projects, and fundraising events can make it tough to manage cash flow and track spending.

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One way to stay on budget is using a credit card designed for your organization's needs. Nonprofit credit cards offer unique benefits, including specialized rewards programs and waived fees.

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If you're wondering whether a nonprofit credit card is right for you, here's a look at the top 7 cards for nonprofits and the pros and cons for each.

What is a nonprofit credit card?

A nonprofit credit card is a business credit card designed specifically for nonprofit organizations. These cards usually offer benefits for nonprofits, such as waived fees or unique rewards.

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These credit cards can be used for any of your organization's purchases, which makes them a helpful tool for managing your finances. Like other businesses, nonprofits have expenses like office supplies, special events, and marketing materials. Using a credit card lets you keep track of your spending and make sure you're staying within your budget.

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You'll also have access to statements and can easily track your activity online. This can help you catch any potential errors or unauthorized charges before they become a problem.

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Because nonprofits are often subject to more stringent spending rules than for-profit businesses, using a credit card can give you more flexibility with your finances. Understanding and making use of your credit card's features is crucial to getting the most out of your account.

Are nonprofits exempt from credit card fees?

Nonprofits are not automatically exempt from credit card fees. However, some credit card providers offer special pricing or waived fees for nonprofit organizations to show their support for their causes.

This also applies to the donations nonprofits receive. Whenever a donation is made to a nonprofit using a credit card, the transaction typically incurs fees charged by credit card processors. These fees are a percentage of the donation amount and may include additional fixed charges per transaction.

What are the benefits of nonprofit credit cards?

It's not always easy for nonprofits to secure funding. This can make it challenging to cover expenses, especially when you're just starting‌ out. Startup costs can be a huge barrier to entry for new organizations.

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Traditional funding sources, like grants or donations, can take time. A nonprofit credit card, on the other hand, gives you the flexibility to make purchases and pay your bills on time, even if funding is delayed. This will help you avoid late fees and interest charges which can further strain your budget.

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Unlike business loans and other lines of credit, nonprofit credit cards are often easier to qualify for. The application process is simple, and you may not need to provide as much documentation. Plus, you won't be required to pay a down payment or origination fees.

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There are several other advantages that come with using a nonprofit credit card. Here are some of the top benefits:

• Waived fees: Waived fees can reduce the cost of using a credit card for your nonprofit.
• Lower APR: A lower interest rate can save your nonprofit significant money over time.
• Signup bonuses: Signup bonuses, such as cashback or rewards points, can help you earn rewards on everyday purchases.
• Mobile access: Mobile access allows you to check your balance, make payments, and track your spending on the go.
• Fraud protection: Fraud protection gives you peace of mind knowing that your nonprofit's finances are protected.
• Specialized rewards programs: Rewards programs give you cashback for things like office supplies or travel. This can help you get more value out of your credit card.
• Virtual cards: Virtual credit cards can be used for online purchases. They help protect you from fraud and allow you to track your organization's spending.

These cards can help you save money on expenses and make it easier to track your spending. This makes nonprofit credit cards a valuable tool in the management of your organization.

Top 8 nonprofit credit cards in 2023

The best credit card for a nonprofit offers a versatile mix of value and usability. Ramp offers its own corporate card, so we’re a little biased about the pros and cons of different cards. But to help you make the best decision for your nonprofit, we'll provide you with as much information as we can on the most popular credit cards for nonprofits.

1. Ramp Visa Corporate Card

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Ramp's corporate cards are designed to provide organizations with an easy way to manage finances. With Ramp, your organization can earn unlimited 1.5% rewards on all purchases with no fees. You’ll also get a full suite of finance automation tools that add efficiency and make approvals workflows pain-free. If your nonprofit has limited staffing, you’ll benefit Ramp’s automated processes.

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Additionally, built-in fraud protection ensures that your organization's finances are always secure. And with the ability to restrict spending, you can be sure that your cards are being used wisely.

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Best of all, you can use Ramp's virtual card with mobile pay to make purchases and payments on the go. With Ramp’s mobile app, you can easily access your cards and transactions anywhere. So, whether at home or on the go, you can always stay on top of your finances.

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Introductory APR: N/A

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Interest rate: N/A

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Annual fee: $0, with optional upgrades to Ramp Plus

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Advantages:

• Finance automation tools that make expense management simple
• $0 annual fee
• 1.5% rewards

Disadvantages:

• As a corporate charge card, you can’t carry a balance
• Ramp only approves U.S. organizations, so it might not be right for you if most of your operations and spending occur outside the U.S.
• Requires good credit

2. Chase Ink Business Cash

If you're a nonprofit organization, you may be looking for a credit card to help you earn rewards to fund your cause. The Chase Ink Business Cash card offers 0% introductory APR, no annual fees, and bonus cashback.

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While 0% APR doesn't apply to balance transfers, this card may be helpful if you need to finance a large purchase. Additionally, the $750 cashback bonus after you spend $6,000 in the first three months may come in handy for funding new projects.

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Introductory APR: 0%

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Interest rate: 15.49% to 21.49% variable APR

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Annual fee: $0

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Advantages:

• Chase Ultimate Rewards program
• Up to $750 cash back
• Fraud protection

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Disadvantages:

• Balance transfer fees
• No unlimited virtual cards
• No accounting and software automation

3. Charity Charge Nonprofit Business Card

If you're looking for a credit card issuer that will give you cashback on everyday expenses, the Charity Charge Nonprofit Business Card is a good option. This Mastercard has automatic rebates on recurring costs from more than 200 vendors. You're entitled to 4% rebates on hotels and dining, 1% rebates on gas, and more.

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There's no annual fee for this business card, and purchase protection is included. It's worth noting that you don't need a personal guarantee to qualify (which means less risk to your personal credit). But, your organization needs at least five years of history and $100,000 in annual revenue or two years with $500,000 annual revenue for eligibility.

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Introductory APR: N/A

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Interest rate: N/A

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Annual fee: $0

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Advantages:

• Automatic rebate program
• Purchase protection
• No annual fee

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Disadvantages:

• Must meet stringent qualifications
• 2+ years of business history
• No accounting and software automation

4. U.S. Bank Business Edge™ Select Rewards Card

The U.S. Bank Business Edge™ Select Rewards Card offers 3 points for every $1 spent on purchases like gas and office supplies. Additionally, the points never expire so nonprofits can use them at their discretion.

For larger purchases, U.S. Bank also offers 0% APR for 15 billing cycles, making it a great option for balance transfers. The card has other benefits, including up to 5x the points on certain categories like car and hotel rentals.

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Introductory APR: 0%

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Interest rate: 16.24% to 25.24% variable APR

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Annual fee: $0

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Advantages:

• Extended introductory period
• 3% cash back
• $100 software credit

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Disadvantages:

• Balance transfer fees
• Must book travel through rewards center
• No accounting and software automation

5. Capital One Spark Miles Select

The Capital One Spark Miles Select credit card lets you earn twice the miles for every dollar spent on eligible purchases. You'll also have access to free employee credit cards. There's a $95 annual fee after your first year.

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Introductory APR: N/A

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Interest rate: 21.24% variable APR

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Annual fee: $95 after the first year

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Advantages:

• $500 travel reward
• Emergency travel insurance
• Employee cards

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Disadvantages:

• Comes with annual fees
• Good credit history required
• No accounting and software automation

6. Business Advantage Unlimited Cash Rewards Mastercard® Credit Card

The Business Advantage Unlimited Cash Rewards Mastercard® allows you to earn 1.5% cashback on every purchase. You can up to 75% more cashback if you have a business checking account with Bank of America.

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This card comes with 0% intro APR for nine billing cycles, making it an ideal choice for small businesses planning a significant purchase. You'll also get a $300 statement credit after you spend $3,000 in the first three months.

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You’ll also get $100,000 in travel accident and auto rental insurance. Plus, you can use your credit card as overdraft protection for your Bank of America checking account. This card offers reliable cashback and a way to manage your finances.

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Introductory APR: 0%

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Interest rate: 13.74% to 23.74% variable APR

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Annual fee: $0

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Advantages:

• Unlimited cashback
• Travel insurance
• $300 statement credit

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Disadvantages:

• Short introductory APR period
• Lower cashback without a Bank of America account

7. PNC Points Visa Business Credit Card

The PNC Points Visa Business Credit Card is a balance transfer card that offers 0% APR for nine billing cycles. This means you can transfer your high-interest rate from another card and save on interest payments. The credit card also offers unlimited rewards with five points for every dollar spent. You can redeem your points for cash back, statement credits, or merchandise.

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Introductory APR: 0%

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Interest rate: 13.24% to 22.24% variable APR

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Annual fee: $0

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Advantages:

• Cash Flow Insight
• Software integrations
• $200 cash bonus when you spend $1,000 in the first 3 months

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Disadvantages:

• Rewards expire
• Short introductory APR period

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8. American Express Blue Business Cash Card

The American Express Blue Business Cash Card is a cashback rewards card with no annual fees and 0% introductory APR. If you want a rewards card to help with your organization’s spending, with a flat-rate cashback rewards rate across categories, this may be the card for you. Just note that there’s an annual $50,000 spending limit before cashback rewards halve from 2% to 1%.

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Introductory APR: 0%

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Interest rate: ​​18.49 to 26.49% variable APR

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Advantages:

• 12-month introductory 0% APR
• Cash back rewards
• Purchase protection

Disadvantages:

• American Express isn't accepted at all vendors
• High APR after the introductory period ends
• Spending caps on cashback rewards

How credit cards for nonprofits can help your organization

Using a credit card allows nonprofit organizations to build business credit. While nonprofits are required to receive at least one-third of their revenue from public donations, sometimes fundraising isn't enough to finance certain projects.

In those cases, nonprofits look to grants and loans, like nonprofit lines of credit, to fund their expenses. Since nonprofits are considered a high lending risk to traditional banks, due to their unsteady revenue and lack of collateral, it's especially important to have a strong business credit profile to secure proper funding.

Consider Ramp's corporate card for nonprofits

Whether you're a small or large nonprofit, Ramp is committed to helping you find the right financial solution with products—including corporate cards—to help you manage expenses and stretch your budget. 

Unlike most business credit cards, Ramp’s corporate cards come with no annual fees and no interest. Our repayment terms mean that you’ll never carry a balance on your card. It’s a good fit if your organization is looking for unlimited 1.5% rewards without any worries about overspending and racking up credit card interest.

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Ramp also comes with built-in expense management software. You can be proactive about spending with spend controls at the point of sale and configurable approval workflows to help you enforce your organization’s policies.

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Learn more about how you can use Ramp to reach your financial goals. For more expert advice on how you can streamline your nonprofit finance operations, check out our recent webinar with nonprofit finance experts at Baker Tilly and Sage Intacct:

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