Business Credit Cards | Comparison & Reviews

Business Credit Cards

Dedicated business credit cards offer many tools personal credit cards don’t have. They can save you money, help track expenses and simplify taxes.

100,000 Bonus Qantas Points when you spend $4,000 on everyday purchases in 60 days.
Earn 1 Qantas Point per $1.50 spent on everyday business purchases.
Up to 44 days on purchases.
Experience fast online application. T&C’s Apply. See website for details.
rewards program
interest free days
annual fee
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NAB Low Rate Business Card
0% p.a. for 12 months on purchases.
No annual fee for the first year.
Low 13.25% p.a. rate on purchases and cash advances.
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55 days
interest free
(up to)
$0
1st year
then $60
NAB Qantas Business Signature Card
100,000 Bonus Qantas Points when you spend $4,000 on everyday purchases in 60 days.
Experience fast online application.
Earn 1 Qantas Point per $1.50 spent on everyday business purchases.
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Qantas Frequent Flyer
Qantas Frequent Flyer
44 days
interest free
(up to)
$295
ongoing
American Express Qantas Business Rewards Card
Apply by 29 jan 20
100,000 bonus Qantas Points when you are approved by 29 January 2020 and spend $3,000 in 2 months.
Earn triple Qantas Points for your business when employees fly on eligible Qantas flights and pay using their American Express Qantas Business Rewards Card.
Earn 2 Qantas Points per $1 spent on Qantas products and services.
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Qantas Business Rewards
Qantas Business Rewards
51 days
interest free
(up to)
$450
ongoing
American Express Platinum Business Card
Apply by 15 jan 20
6 reviews
Receive 120,000 bonus Membership Rewards points when you apply by 15 January 2020, are approved and spend $5,000 on your card within the first 2 months.
Earn up to 2.25 pts per $1 spent.
Higher earn rate of 1 pt per $1 spent on ATO payments.
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Membership Rewards Ascent
Membership Rewards Ascent
55 days
interest free
(up to)
$1,750
ongoing
NAB Rewards Business Signature Card
100,000 points when you spend $4,000 on everyday purchases in 60 days.
Earn triple points when travelling overseas or overseas purchases made here in Australia.
Earn double points on purchases made in major department and hardware stores.
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NAB Rewards
NAB Rewards
44 days
interest free
(up to)
$175
ongoing
Earn up to 1.5 Membership Rewards point 1 for every $1 spent
No pre-set spending limit means more flexibility.
Extend your cash flow up to 51 days.
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Membership Rewards Ascent
Membership Rewards Ascent
51 days
interest free
(up to)
$169
ongoing
American Express Business Explorer Credit Card
Apply by 15 jan 20
Receive 100,000 bonus Membership Rewards points when you apply by 15 January 2020, are approved and spend $3,000 on your card within the first 3 months.
Earn 50,000 business loyalty bonus points when you spend $100,000 every 12 months from the card approval date.
Enjoy up to two entries per year to the American Express Lounge.
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Membership Rewards Gateway
Membership Rewards Gateway
55 days
interest free
(up to)
$395
ongoing
American Express Velocity Business Card
No pre-set spending limit means more flexibility.
Earn 2 points per $1 spent on Virgin Australia services and up to 1 point per $1 spent on other purchases, except for government bodies where you’ll earn 0.5 points per $1 spent.
Extend your cash flow up to 51 days.
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Velocity Frequent Flyer
Velocity Frequent Flyer
51 days
interest free
(up to)
$249
ongoing
Earn 1.5 Membership Rewards points for each dollar spent.
No pre-set spending limit means more flexibility.
Extend your cash flow up to 51 days.
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Membership Rewards Ascent
Membership Rewards Ascent
51 days
interest free
(up to)
$109
ongoing
NAB Business Card
Have the freedom to set individual cardholder credit limits for employees who need to make purchases.
Annual card fee is charged monthly at $9 per card.
Low 15.50% p.a. rate on purchases.
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35 days
interest free
(up to)
$108
ongoing
Commonwealth Bank Business Awards Credit Card
Apply by 29 feb 20
4 reviews
Get 30,000 Bonus Awards Points when you apply by 29 February 2020, are approved and spend $2,000 on eligible purchases within 90 days from card activation.
Up to 55 days interest-free on purchases.
Earn 1 point per $1 you spend.
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Commonwealth Bank Awards
55 days
interest free
(up to)
$100
ongoing
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Q&As about Business Credit Cards from customers

What kinds of business cards are available?

  • Varying card issuers: Just as with personal cards, a business card can be a Visa, Mastercard, American Express or Diners Club card. However, American Express has the largest choice of business cards in Australia.
  • Varying card features: Features such as rewards and frequent flyer points, sign-up bonus points, complimentary insurance, other travel benefits, and even low interest rates, are all available with business cards. However, business cards with low annual fees may have few or none of these features.
  • Credit card or charge card: A business card may be a credit card, with a fixed credit limit and the option to defer payment and pay interest, or a charge card with no set credit limit and the strict requirement for full timely payment of the account balance each month.

How are business cards different from personal credit cards?

In many ways, business cards function identically to personal credit cards, allowing users to make purchases including online and over the telephone, make withdrawals at ATMs and buy foreign currency.

However, business cards are issued to a business with an Australian Business Number (ABN), not to an individual, although a business with an ABN may in fact be operated by a sole trader or partnership rather than being incorporated.

Regardless of the business size, multiple cards on the one account can be provided to members of staff. Equally, a sole trader may need just one card.

Who is responsible for the debt on a business card account?

Depending on your business structure, the card provider will require a specific liability arrangement:

  • Individual liability for a sole trader: The sole trader is personally responsible for repayment of the debt, including any debt incurred on supplementary cards issued to employees.
  • Joint and several liability for a partnership: The business partners are jointly responsible for the debt, but each of them could also be held responsible for the total debt.
  • Corporate liability: For an incorporated business, the card account is usually held in the name of the company. The company has liability for the debt.

Can employees with supplementary cards spend as much as they like, up to the card account credit limit?

Where cards are issued to the employees of a business, it is normal for each card to be assigned a fixed limit which will usually be much lower than the global account limit. E.g. total account limit $50,000, with cards issued to ten employees with limits of $5,000 each (or varying limits, but still with a total of $50,000).

It is also possible to limit the kind of expenditure permitted. E.g. a procurement officer may only be allowed to purchase business stock or equipment from certain suppliers, but not use the card for travel and entertainment.

How can I tell how much has been spent by each card on the business card account?

Most business cards cards offer special financial tools to help with expense tracking, budgeting, accounting and taxation. Online access means that most transactions will be visible shortly after they are made. And each card’s monthly transactions are itemised in detail in the monthly statement, as well as being reported in total.

The ability to track transactions is a major advantage of a business credit card, replacing hours otherwise spent tracking down transactions. Data can usually be exported from your online card account into a spreadsheet or into accounting software such as MYOB and QuickBooks.

What factors should I consider when choosing a business card?

It is essential to understand the features available, and how to match them with the specific financial requirements of your business. This will enable you to find the card that is right for your circumstances. Make sure that you check the following:

  • Available credit limit: The card you choose should have a credit limit that could cover all the monthly expenses of your business if necessary.
  • Interest rate: Even if the bank allows you to have a large spending limit, you should still aim to clear the balance each month. However, the purchase rate applied to your credit card is still an essential feature to consider, since any ongoing debt incurs this interest rate. Your cash flow’s ups and downs may see you needing to use your line of credit from time to time.
  • Expense tracking functionality: Look for monthly statements listing each supplementary card’s expenditure in detail and in total, and the ability to export data to a spreadsheet or your accounting software for extra reporting flexibility and time-saving.
  • Rewards program: If the card features a rewards program, make sure it suits the way you and your staff spend, and offers rewards that can help reduce business costs. As a rule of thumb, ensure that the value of the benefits likely to be derived from the rewards program each year is at least equivalent to the annual fee.
  • Sign-up bonus: If there are significant sign-up rewards or frequent flyer points on offer, there may be a possibility for a sizeable one-off reduction in your expenses. E.g. the bonus points may be enough for several free business flights.
  • Complimentary benefits: Built-in free travel insurance for cardholders could provide serious cost savings for your business. (Read the insurance product disclosure statement , however, to make sure that the cover is sufficient for your needs.) Some business cards may offer a free domestic flight annually, or airport lounge access. It all adds up to either reduced expenses or a better experience for your employees.
  • Introductory offers: Look out for introductory offers. Banks may offer introductory rates to new customers, such as low purchase interest rates for an initial period. This can be helpful for new businesses to make essential purchases, but you should be wary of how the deal changes at the end of the promotional period. Always check the revert interest rate and the offer expiry date. It may be that a card with a higher initial rate is better, because its ongoing, long-term rate may be lower.
  • Annual fee: Credit cards for businesses often have a higher annual fee than personal credit cards. This fee covers all the extra business-specific features, rewards schemes, insurance policies and other benefits, and provides access to larger credit limits and greater spending power. Ensure that the annual fee is affordable and that the extras you are paying for are genuinely beneficial to your business.

How can I improve my chances of qualifying for a business card?

Make sure your credit history is in order. To be successfully approved for a business credit card, you need to have a very good credit rating. Once a year you should request a report from a credit checking agency (such as Dun & Bradstreet) to make sure everything is in order and there are no mistakes on file. A healthy credit history means the bank will be more willing to provide a higher credit limit, a lower variable interest rate and better financial options.

What documents do I need to apply for a business card?

For an individual or joint and several liability card, you need to be over 18 years of age, be a resident or citizen of Australia, have a good credit history and earn above a certain annual income threshold, which varies from card to card. You also need to provide your financial records and ABN number.

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