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Business credit cards and charge cards can be a great financial aid to any business, both large and small. Offering interest free periods on purchases, greater employee purchasing control, in-depth financial reporting and rewards schemes; business credit cards are a very useful and attractive product for any company. Below are the business credit cards from the top banks and providers within Australia. Use the table to find the best card for your needs or find out more information on business credit cards.

Credit Card	Interest Rate	Balance Transfer Rate	Interest Free Days (up to)	Annual Fee	Rewards
American Express Gold Business Card	N/A Charge Card	N/A	0% 51 days	$169 p.a.	Optional
Monthly statement includes a GST breakdown Free Domestic and International Travel Cover You must have an income of over $24,000 There are no set interest rates on this charge card, instead you pay the full balance every month. There is no introductory balance transfer offer on this charge card. You will not be charged interest on any purchases for the first 51. Once the 0% period ends you will need to pay the outstanding balance in full. This credit card has an annual fee of $169 p.a. Enrollment into the Ascent reward program is an additonal $80 per annum or the Choices reward program is $40 per annum. You can earn up to 1.5 Membership Rewards points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
American Express Business Card	N/A Charge Card	N/A	0% 51 days	$109 p.a.	Optional
Monthly statement includes a GST breakdown Cover against online fraud You must have an income of over $24,000 Supplementary cards cost $79 p.a. There are no set interest rates on this charge card, instead you pay the full balance every month. There is no introductory balance transfer offer on this charge card. You will not be charged interest on any purchases for the first 51. Once the 0% period ends you will need to pay the outstanding balance in full. This credit card has an annual fee of $109 p.a. Enrollment into the Ascent reward program is an additonal $80 per annum or the Choices reward program is $40 per annum. You can earn up to 1.5 Membership Rewards points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
American Express Platinum Business Card	N/A Charge Card	N/A	0% 51 days	$1200 p.a.	Travel, Shopping
Free Business Expenses Insurance and Travel Insurance Monthly statement includes a GST breakdown Free Purchase and Refund Protection You must have an income of over $75,000 Business must be running for 1 year There are no set interest rates on this charge card, instead you pay the full balance every month. There is no introductory balance transfer offer on this charge card. You will not be charged interest on any purchases for the first 51. Once the 0% period ends you will need to pay the outstanding balance in full. This credit card has an annual fee of $1200 p.a. You can earn up to 1.5 Membership Rewards points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
American Express Qantas Business Card	N/A Charge Card	N/A	0% N/A days	$299 p.a.	Qantas Frequent Flyer
Enrollment into the Qantas Frequent Flyer Program Monthly statement includes a GST breakdown Cover against online fraud You must have an income of over $24,000 Best suited for company's with $2 to $200 million annual revenue There are no set interest rates on this charge card, instead you pay the full balance every month. There is no introductory balance transfer offer on this charge card. You will not be charged interest on any purchases for the first N/A. Once the 0% period ends you will need to pay the outstanding balance in full. This credit card has an annual fee of $299 p.a. You can earn up to 1 Qantas Frequent Flyer point for every dollar you spend on everyday purchases or you can earn up to 2 Qantas Frequent Flyer points for every dollar you spend on selected Qantas services. You can redeem points for Qantas travel services and shopping offers.
Bankwest Business Large Rewards MasterCard	16.99% p.a. 6 months	7.99% p.a. 6 Months	0% 55 days	$69 p.a.	Travel, Shopping
One of Australia's lowest interest rates Enjoy all the benefits of this card and pay a low annual fee of $69 Receive 6, bonus points after 6 months No balance transfers between Bankwest There is an introductory annual interest rate of 16.99% for the first 6 months. After this period you will be charged an annual interest rate of 16.74% on all purchases and 20.99% on cash advances. Enjoy an interest rate (per annum) of 16.99% on balance transfers for up to the first 6 Months. Once the 16.99% period ends you will be charged an annual interest rate of 16.74% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 16.74% on any purchases you make. This credit card has an annual fee of $69 p.a. You can earn up to 1.5 reward points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
Bankwest Business Low Rate MasterCard	12.99% p.a. 6 months	7.99% p.a. 6 months	0% 45 days	$39 p.a.	Optional
Enjoy all the benefits of this card and pay a low annual fee of $39 One of Australia's lowest interest rates No reward point caps or points expiry No balance transfers between Bankwest There is an introductory annual interest rate of 12.99% for the first 6 months. After this period you will be charged an annual interest rate of 12.74% on all purchases and 20.99% on cash advances. Enjoy an interest rate (per annum) of 12.99% on balance transfers for up to the first 6 months. Once the 12.99% period ends you will be charged an annual interest rate of 12.74% on the transferred balance. You will not be charged interest on any purchases for the first 45. Once the 0% period ends you will be charged an interest rate (per annum) of 12.74% on any purchases you make. This credit card has an annual fee of $39 p.a. Enrollment into the Business rewards program is an additonal $69 per annum. You can earn up to 1 reward points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
Bankwest Corporate MasterCard	16.99% p.a.	N/A	0% 50 days	$99 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $99 Liability insurance to protect against employee card misuse Up to 50 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 16.99%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 16.99%. You will not be charged interest on any purchases for the first 50. Once the 0% period ends you will be charged an interest rate (per annum) of 16.99% on any purchases you make. This credit card has an annual fee of $99 p.a. You can earn up to 1.5 reward points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers. Additional annual fees apply to reward program enrollment.

What is a business credit card?

A business credit card acts in the same way as a personal credit card in that you can make purchases and withdraw cash advances that eventually incur interest. The fundamental difference between a personal credit card and a business credit card is that it’s the business, not the person that is liable for the debt.

To successfully obtain a business credit card you will need an Australian Business Number (ABN) and your business must be in good standing order. The size of your businesses, such as the number of employees and revenue it generates are also factors the banks take into account, but do not be deterred from applying if you have a small business as most banks will be interested in your business.

Types of business credit cards

There are two types of cards available to a business and these are explained below: -

• Credit card - A business credit card is very similar to a personal credit card in that there is typically an interest free period on purchases (not cash advances) and after this period the debt incurs interest. These types of credit cards are particularly good for small businesses as they allow the business more time to repay the debt without incurring the harsh payment fees of a charge card.


• Charge card - A charge card works by allowing an interest free period on debt for a set period of time. However, once this period is up the card's balance must be paid in full or incur high fees. If used correctly the charge card can be a powerful financial tool as they act as an interest free loan that's always available to the business. However, due to the harsh financial penalties of going over the interest free period, these types of cards are best suited to large companies or companies that have the cash flow to pay off the debt in full each month.

How to choose the right business credit card?

Choosing which type of business card and what sort of features you want on the card depends mostly on your business' cash flow and overall revenue. As stated in Business credit card types, it makes financial sense for companies that have a good cash flow to choose a charge card. The standard business credit card is probably best suited to smaller companies that use the credit card as more of a long term financial buffer.

The other factors to consider when choosing a business credit card is whether you would benefit from a reward program, which would incur a higher annual fee, or whether you can meet the minimum annual salary, which might be a concern for smaller businesses.

Advantages of a business credit card?

• Rewards - Some of the business cards include reward programs that allow you to accrue reward points for business expenses. This is an advantage to any business as these benefits are not available on other sources of finance, such as a loan. However, these reward programs usually come at an additional annual fee, so make sure you weigh up the potential benefits before signing up.


• Interest free periods - A business credit card and a business charge card both offer an interest free period. This is a powerful financial tool for any business as it basically acts as an interest free loan and does not immediately impact the business' cash flow.


• Customized spending limits - A powerful and extremely useful feature for any business owner. Customizing the spending limits enables a certain level of expenditure control when handing business cards to employees.


• Convenience - A business credit card removes the need for employees to use their own credit cards for business expenses and allows for detailed reporting and extra control over their expenses.


• Detailed expense reporting - Most of the business credit card providers supply detailed reporting on the card's expenses. These are specifically formatted to meet GST requirements, which makes it easier for your business accounts.


• Security - A business credit card acts as a good alternative to a petty cash system, which means your business doesn't have to risk having large amount s of cash onsite.

Disadvantages of a business credit card

• Restrictions - Some business credit cards may be limited to particular types of purchases or prohibit cash withdrawals. Ensure you read the small print on your credit card application to obtain an understanding of these restrictions.


• Pay on time - It is vital that any debt on a business charge card is repaid before the interest free period has expired otherwise the debt will incur hefty fees. Repayment of debt on a standard business credit card is still important however, as it makes financial sense for a business to avoid any interest fees.

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