8 types of business credit cards

1. Cashback rewards cards

Cashback rewards cards offer straightforward value by returning a percentage of your business purchases back as cash. The most efficient cards offer a single, flat cashback rate on all purchases, eliminating the need to track categories or calculate rewards. Other cards use a more complex structure with different rates for different spending categories, typically 1-2% base cashback with higher rates of 3-5% in select business categories like office supplies or internet services. Some cards offer rotating bonus categories that change quarterly, while others maintain fixed category bonuses that align with typical business expenses.

Most cashback business cards include useful features like expense tracking tools, employee cards at no additional cost, and basic insurance protections. The main appeal is simplicity—you don't need to learn complicated rewards programs or transfer points between partners since you're just earning straightforward cash back on all your business spending.

Pros:

• Simple, easy-to-understand rewards structure
• Cash rewards never lose value unlike points
• No need to learn redemption strategies
• Rewards can be automatically applied to statement credit
• Generally lower annual fees than travel or points cards

Cons:

• Flat-rate rewards may not maximize high-yield spending
• Annual fees can offset potential rewards
• High interest rates reduce net benefits on carried balances
• Reward caps may limit total cashback earnings
• Cash rewards may offer less flexibility compared to points or miles

2. Points-based rewards cards

Points-based rewards cards allow businesses to earn reward points on their spending that can be redeemed for a variety of options including travel, gift cards, merchandise, or statement credits. These cards typically earn 1-5 points per dollar spent, with opportunities to earn bonus points in specific business spending categories. While potentially valuable, these programs often require more active management to maximize their worth.

The flexibility of points-based systems appeals to businesses that want redemption options beyond just cash back. Many of these cards participate in larger rewards ecosystems that let you combine points across multiple cards or transfer points to retail partners. However, point values can vary significantly depending on how you redeem them, and staying on top of the best redemption options requires time and effort.

Pros:

• Multiple redemption options for rewards
• Often higher value potential than pure cashback
• Can pool points with other cards with the same rewards system
• Usually offer substantial welcome bonuses
• Good option if you want redemption flexibility

Cons:

• More complex than straight cashback
• Point values can vary or devalue over time
• May require significant time to optimize redemptions
• Usually have annual fees
• Need to actively manage rewards program

3. Travel rewards cards

Travel rewards cards are designed for businesses with significant travel expenses, offering enhanced earnings on flights, hotels, car rentals, and related purchases. These cards typically earn multiple points per dollar on travel spending and often come with premium travel benefits like airport lounge access, free checked bags, trip insurance, and elite status with airlines or hotels.

While these cards usually carry higher annual fees, the benefits can quickly outweigh the cost for businesses that travel frequently. Many offer compelling signup bonuses worth several free flights or hotel stays. The key differentiator from general points cards is the focus on travel-specific perks and protections, which can save businesses significant money on travel-related expenses while making business trips more comfortable.

Pros:

• Higher earning rates on travel expenses
• Premium travel benefits and protections
• Typically strong welcome bonuses
• Can provide significant savings on business travel
• Often include travel insurance coverage

Cons:

• Higher annual fees than standard rewards cards
• Benefits mainly valuable for frequent travelers
• May have foreign transaction fees
• Complex rewards structures
• Travel benefits may overlap with elite status

4. Fleet cards

Fleet cards are specialized business credit cards designed specifically for managing vehicle-related expenses. These cards offer detailed tracking and reporting of fuel purchases, maintenance costs, and other vehicle-related spending across your entire fleet of vehicles. Most fleet cards can be assigned to specific vehicles rather than employees, making it easier to track per-vehicle costs and maintain accurate records for tax purposes.

What sets fleet cards apart is their focus on control and reporting features specific to vehicle management. They typically offer real-time monitoring of fuel purchases, mileage tracking, maintenance scheduling alerts, and the ability to set restrictions on purchase types and fueling locations. Many also provide detailed analytics on fuel efficiency and driver behavior, helping businesses optimize their fleet operations and reduce costs.

Pros:

• Detailed tracking of vehicle-related expenses
• Ability to restrict purchases to specific categories
• Real-time monitoring and reporting
• Integration with fleet management systems
• Enhanced security features for fuel purchases

Cons:

• Limited use beyond vehicle expenses
• May have higher fees than general business cards
• Often requires minimum fleet size
• Limited acceptance compared to major credit cards
• May lock you into specific fuel networks

5. Purchasing cards

Purchasing cards, also known as p-cards, are designed to streamline procurement processes and manage business-to-business payments. These cards function differently from traditional credit cards, focusing on automating the purchase-to-pay cycle for business expenses. They're particularly useful for organizations looking to reduce the administrative costs associated with processing purchase orders, invoices, and payments.

What makes p-cards unique is their robust spend management capabilities and integration with accounting systems. They typically offer features like automated approval workflows, custom spending controls by department or employee, and detailed line-item transaction data for better expense tracking. Many p-card programs also provide virtual card capabilities for online purchases and automated supplier payments, helping organizations modernize their procurement processes.

Pros:

• Streamlines procurement processes
• Detailed transaction reporting
• Strong spend controls and approval workflows
• Integration with accounting systems
• Reduces processing costs for purchases

Cons:

• May require significant transaction volume
• More complex setup than traditional cards
• Often requires process changes to implement
• Can have higher fees than standard cards
• May need staff training for proper use

6. Corporate cards

Corporate cards are comprehensive financial management solutions built for scaling companies and larger organizations that need to manage spending across multiple employees and departments. These cards typically come with robust expense management platforms that integrate with accounting software, automate receipt capture, and enforce company spending policies. Unlike traditional business credit cards, corporate cards often offer custom payment terms and higher credit limits based on company revenue rather than personal credit.

The main advantage of corporate cards is their ability to provide centralized control while maintaining flexibility for employees. Most programs offer real-time visibility into company spending, automated expense categorization, and customizable approval workflows. Many corporate card programs also include advanced features like vendor management tools, automated bill payments, and detailed spending analytics that help finance teams optimize cash flow and identify cost-saving opportunities.

Pros:

• Advanced expense management tools
• Higher credit limits based on company revenue
• Custom payment terms and controls
• Built-in accounting integrations
• Real-time spending visibility

Cons:

• Usually have cash-on-hand or revenue requirements
• Require full monthly balance payments
• May require a financial statement review

7. Secured cards

Secured business credit cards require a security deposit that typically determines your credit limit, making them accessible to businesses with limited credit history or past credit challenges. These cards function similarly to regular business credit cards but with lower qualification requirements, as the security deposit reduces the risk for card issuers. The deposit, usually ranging from $500 to $25,000, is refundable if you close the account in good standing.

Most secured business cards report to major business credit bureaus, making them valuable tools for building business credit. After demonstrating responsible card use for 12-18 months, many issuers will review your account for an upgrade to an unsecured card and return of your deposit. While these cards may have basic rewards programs, their primary value lies in helping businesses establish credit history while maintaining separation between business and personal expenses.

Pros:

• Easier approval than unsecured cards
• Helps build business credit history
• Clear path to unsecured cards
• Separates business from personal expenses
• Refundable security deposit

Cons:

• Requires upfront deposit
• Usually have lower credit limits
• Higher interest rates and fees
• Limited rewards and benefits
• May have annual fees

8. Virtual cards

Virtual cards represent the next evolution in business payments, offering instantly generated card numbers for online purchases and vendor payments without the need for physical plastic. Each virtual card can be customized with specific spending limits, expiration dates, and approved merchant categories, providing unprecedented control over business spending. They're particularly useful for managing subscription services, online advertising spend, and vendor payments.

The key advantage of virtual cards is their enhanced security and flexibility. Since each virtual card can be limited to a single vendor or transaction, the risk of fraud is significantly reduced. Most virtual card programs offer automated reconciliation features, making it easy to match transactions with invoices and streamline accounting processes. Some providers even allow integration with accounts payable systems to automatically generate virtual cards for approved invoices.

Pros:

• Enhanced security for online purchases
• Instant card generation
• Detailed spending controls
• Easy subscription management
• Automated reconciliation capabilities

Cons:

• Limited use for in-person purchases
• May require tech-savvy staff
• Some vendors don't accept virtual cards
• Can have transaction fees
• Integration setup may be complex

How to choose the right business credit card

The right business credit card should match your company's spending patterns and operational needs. Consider your monthly expenses, whether you need employee cards, and if building business credit is a priority. While larger organizations may need comprehensive expense management tools, smaller businesses often benefit from simpler solutions with straightforward rewards.

Below is a comparison of each card type, showing typical spending ranges, key benefits, and ideal use cases to help you find the best fit for your business.

Why the Ramp Corporate Card stands out

For businesses looking to combine the best aspects of different card types, Ramp's corporate card offers a compelling solution. Unlike traditional corporate cards, Ramp doesn't require a credit check or personal guarantee—you just need a registered business and at least $25,000 in a U.S. business bank account to get started. With a quick online application process, businesses can be approved and start spending within 1–3 days on average.

Ramp combines straightforward cashback rewards with powerful expense management features, eliminating the complexity of category tracking while maximizing your return on every purchase. Its built-in travel management platform streamlines booking and expense reporting, while automated receipt matching and real-time expense tracking help finance teams save hours on month-end closing.

By integrating corporate card functionality with expense management and travel management in one platform, Ramp helps businesses eliminate the need for multiple tools and subscriptions while providing the controls and visibility growing companies need. Best of all, Ramp has no annual fees, no user fees, and no interest charges—making it a truly cost-effective solution for growing businesses.