How to earn big rewards with the right business credit card

How to earn big rewards with the right business credit card

  • Aussie companies spend millions of dollars every year on business travel expenses – so why not get rewarded for those costs?
  • A business credit card can earn you not just frequent flyer points for every dollar spent, but complimentary travel insurance, partnerships with accommodation chains, and more.
  • Get complete oversight of business spending with the right credit card, where you can monitor day-to-day expenses, tax obligations and cash flow from the palm of your hand.

No matter what your business does or which industry it fits into, getting up close and personal with potential clients is one of the best ways to grow your brand. Often that means travelling interstate – or even overseas – to secure new contracts.

But all those flights, taxis and accommodation expenses can really add up, especially if you have multiple staff who need to travel regularly. Take, for instance, a comparatively small government department like the Australian Bureau of Statistics, which racks up an estimated $3 million every year on staff travel expenses alone.

If your company is baulking at the high cost of business travel, you could be missing out on lucrative new clients and opportunities. So what’s the solution?

Paying for day-to-day company expenses with a business credit card can see you earn big rewards – and plenty of cards are created specifically with business travel in mind. That means you can collect frequent flyer points and put them towards free or reduced-cost business flights. Not to mention some cards partner with major hotel chains around the world, and may even include complimentary travel insurance.

Man working on laptop with credit card

The difference between business and personal credit cards

We’ve already written at length about the inherent liability risks associated with using a personal credit card instead of a business card for company expenses. But there are a number of other differences that make getting a business credit card a no-brainer:

  • Record-keeping: Depending on your chosen card, your provider will probably have an online portal or app where you can log into your account. This means you can stay across all business purchases on the card in real time – great for monitoring funds, making tax returns easier and helping out your finance team.
  • Get the whole team involved: Get multiple additional cards for free (on some cards) and share them with relevant staff, provided you have a company credit card policy in place. It makes business travel a lot easier and you can still monitor all their charges through the portal or app.
  • Build your credit: As your business grows, you may need access to more funds. As long as you make regular payments, a business credit card can help build your credit score, which will come in very handy when it’s time to take out a loan to expand your company.
  • Rewards tailored to your needs: While personal credit cards offer their own type of benefits, with a business credit card you get business-specific rewards. Be sure to compare business credit cards and find one that offers you exactly what you need.
  • Tax-deductible fees: The annual fees – and any other fees – associated with a business credit card are deductible costs for your business, which is not necessarily the case if you use a personal card for business expenses.

Because businesses typically make more purchases than the average consumer – and much larger ones at that – it just makes sense to get a credit card that rewards you for your business expenses.

Fuelling your business travels

Businesswoman in airport terminal

Bring in more clients and everything will grow – your profits, your staff numbers and your overall company. When you get the right business credit card, travel costs will start to feed into themselves: you pay for travel expenses on your card, you earn rewards from them, you get face-to-face with a potential customer, and should you win that client you get a new injection of cash that can be invested in further business travel.

So what sort of rewards can you expect? The NAB Qantas Business Signature Card will provide you with 100,000 Qantas Points when you spend $4,000 on everyday purchases within the first 60 days. You’ll also earn 1 Qantas Point for every $1.50 spent.

Earn 100,000 Bonus Qantas Points

Conditions apply.
NAB Qantas Business Signature Card

100,000 Bonus Qantas Points when you spend $4,000 on everyday purchases in 60 days.

Up to 44 days on purchases.

Earn 1 Qantas Point per $1.50 spent on everyday business purchases.

24 hour, 7 day Platinum Concierge Service.

Enjoy complimentary Qantas Frequent Flyer joining fee of $99.50.

This credit card offer is subject to change and may not be directly related to the content of this article.

Or if you prefer to travel with Virgin, the American Express Velocity Business Card has no pre-set spending limit (because it’s a charge card, not a credit card) and gives you 2 Velocity Points for every $1 spent on Virgin Australia services, and 1 Velocity Point for every $1 spent on other purchases.

It pays to shop around and find the right rewards program for your business needs, as there are often additional benefits like free travel insurance and even partnerships with hotels to make the whole business trip better for your bottom line.

By using points to enable more employee travel, you’re not only investing in new business, but you’re setting yourself up for faster company growth.

Take advantage of every opportunity

A business credit card shouldn’t only be used to pay for flights, accommodation and taxis when you’re travelling for work. It can be used for countless company expenses. Before paying a bill, ask yourself: “Can we put that on our company credit card?” In most instances, the answer will be a resounding “Yes”.

Once you make it a habit to pay with your card for business-related products and services, you’ll start earning rewards without even thinking about it. And by the time the next business trip rolls around, you might have racked up enough points to take care of the whole journey without spending a cent on flights.

Savvy business owners understand there’s no shame in penny-pinching – after all, the whole reason you’re using a business credit card is to make your life easier, so why not take advantage of the rewards at every opportunity?

Choose the right limit

Business expenses can be unpredictable. One month you might have to pay all your suppliers at once, which can wreak havoc on your cash flow if you’re not prepared. To avoid any hiccups along the way, make sure you choose a credit limit that will cover you even during the most expensive periods, or choose a card charge with its flexible cash flow management options.

And always keep track of your business spending. If costs are rising month-on-month – even if your profits are growing alongside them – it’s worth increasing your credit limit before you actually need it. That way you’ll always be prepared and won’t have to worry about not being able to pay your bills on time.

Give back to your staff

Office workers playing Playstation in the office

When the holiday season rolls around, there’s an expectation that as the business owner you’ll splurge a little for your working family. But those gifts don’t have to come directly out of your own pocket.

In fact, when you use your business credit card to its full capacity, you’ll likely have a well of rewards to draw from. Consider:

  • A short holiday: Use some of the frequent flyer reward points you’ve collected to fund a mini vacation for the business’s top performer.
  • Upgrading flights: Is someone in the office going the extra mile for a big business trip? Why not upgrade their flight to Business Class for a special experience?
  • Lounge access: The American Express Business Explorer Credit Card gives you up to two entries per year to the American Express Lounge, which could be a little annual bonus for a couple of your travelling staff.
  • Something for the whole office: There are some great cashback credit cards on the market. So why not splurge on something the whole office can enjoy, like a drinks fridge or a table tennis table?

Does your organisation use a business credit card? How has it helped with purchases, business travel and rewards? Share your story by commenting below.

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This credit card offer is subject to change and may not be directly related to the content of this article.