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Corporate Credit Cards: What They Are, Best Options of December 2024

A corporate credit card can help you control spending across your company and earn rewards.
Edited by

Ryan Lane

Last updated on November 15, 2024

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Corporate credit cards are issued to a company rather than a business owner. Because of this, corporate cards don’t require a personal guarantee. Instead, the corporation often assumes all financial liability for purchases made on the card by its employees.
Corporate cards from issuers like American Express, JP Morgan Chase and U.S. Bank are generally geared toward large corporations with millions in annual revenue. Smaller businesses and startups may be better suited for cards from financial technology companies, some of which are highlighted below.
If you're a sole proprietor or single-member LLC, or if your business has uneven cash flow, a traditional business credit card is probably a better fit than a corporate card. Here’s how these options stack up:
Corporate credit cards
Business credit cards
Who they're for
Incorporated or registered businesses, such as corporations and LLCs.
All business owners, including freelancers and sole proprietors.
How repayment works
Typically must be paid in full every month; users can’t carry a balance over time.
You can carry a balance, allowing you to pay off purchases over time with interest.
Qualification requirements
Strong revenue history and bank balance, but no personal guarantee.
Good or excellent personal credit; personal guarantee required.
Primary benefits
Employee cards with spend controls and simplified expense reporting.
Rewards, including cash back, points and sign-up bonuses.

Do you need a business credit card instead of a corporate card?

Choose your business type to see our top picks.

Our best overall cards

on Nerdwallet's secure site

Note: Some of our selections can be applied for through NerdWallet, and some cannot. Below, you’ll find application links for the credit cards from our partners that are available through NerdWallet, followed by the full list of our picks.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Corporate credit cards are issued to a company rather than a business owner. Because of this, corporate cards don’t require a personal guarantee. Instead, the corporation often assumes all financial liability for purchases made on the card by its employees.
Corporate cards from issuers like American Express, JP Morgan Chase and U.S. Bank are generally geared toward large corporations with millions in annual revenue. Smaller businesses and startups may be better suited for cards from financial technology companies, some of which are highlighted below.
If you're a sole proprietor or single-member LLC, or if your business has uneven cash flow, a traditional business credit card is probably a better fit than a corporate card. Here’s how these options stack up:
Corporate credit cards
Business credit cards
Who they're for
Incorporated or registered businesses, such as corporations and LLCs.
All business owners, including freelancers and sole proprietors.
How repayment works
Typically must be paid in full every month; users can’t carry a balance over time.
You can carry a balance, allowing you to pay off purchases over time with interest.
Qualification requirements
Strong revenue history and bank balance, but no personal guarantee.
Good or excellent personal credit; personal guarantee required.
Primary benefits
Employee cards with spend controls and simplified expense reporting.
Rewards, including cash back, points and sign-up bonuses.

Do you need a business credit card instead of a corporate card?

Choose your business type to see our top picks.

Our best overall cards

on Nerdwallet's secure site

Note: Some of our selections can be applied for through NerdWallet, and some cannot. Below, you’ll find application links for the credit cards from our partners that are available through NerdWallet, followed by the full list of our picks.

Here are the best corporate credit cards

Best forNerdWallet ratingAnnual feeRewards rateIntro offerLearn more

Established businesses with travel expenses

U.S. Bank Commercial Rewards Card

Apply now

on U.S. Bank's website

3.9/5
No annual fee for free plan. Paid plan available.

1x-5x

Points

N/A

Apply now

on U.S. Bank's website

Venture-funded startups with travel expenses

Brex Card

Apply now

on Brex's website

4.3/5
$0

1x-7x

Points

10,000

Points

Apply now

on Brex's website

Cash back

Ramp Card

Apply now

on Ramp's website

3.6/5
$0

1%-1.5%

Cashback

N/A

Apply now

on Ramp's website

Businesses with smaller bank balances

BILL Divvy Corporate Card

Apply now

on BILL Spend & Expense's website

3.6/5
$0

1x-7x

Points

N/A

Apply now

on BILL Spend & Expense's website

I'M INTERESTED IN:

Our pick for

Established businesses with travel expenses

U.S. Bank Commercial Rewards Card

Read Review
Apply now

on U.S. Bank's website

Annual fee
No annual fee for free plan. Paid plan available.
Rewards rate
1x-5x Points
Intro offer
N/A

Pros

  • No annual fee
  • Two-way integration with QuickBooks
  • Can choose from cash back or travel rewards
  • High rewards rates on travel spending through U.S. Bank's portal

Cons

  • High annual revenue requirement ($10 to $150 million)
  • Balance must be paid in full each month
  • Not available to sole proprietors
  • Quarterly spend requirement ($150,000) to earn cash back

U.S. Bank Commercial Rewards Card

NerdWallet rating 

3.9/5
Apply now

on U.S. Bank's website

Annual fee
No annual fee for free plan. Paid plan available.
Rewards rate
1x-5x Points
Intro offer
N/A

Our pick for

Venture-funded startups with travel expenses

Brex Card

Read Review
Apply now

on Brex's website

Annual fee
$0
Rewards rate
1x-7x Points
Intro offer
10,000 Points

Pros

  • No annual fee
  • New cardholder bonus offer
  • No foreign transaction fees
  • No personal guarantee
  • Can apply with EIN only

Cons

  • Complicated rewards structure
  • High capital requirement for approval
  • Daily repayment may be required
  • Not available to sole proprietors

Brex Card

NerdWallet rating 

4.3/5
Apply now

on Brex's website

Annual fee
$0
Rewards rate
1x-7x Points
Intro offer
10,000 Points

Our pick for

Cash back

Ramp Card

Read Review
Apply now

on Ramp's website

Annual fee
$0
Rewards rate
1%-1.5% Cashback
Intro offer
N/A

Pros

  • No annual fee or foreign transaction fees
  • No personal guarantee or credit check
  • Direct integrations with tools and card-level spending controls

Cons

  • Balance must be paid in full each month
  • Not available to sole proprietors
  • Rewards rate varies and is determined per customer

Ramp Card

NerdWallet rating 

3.6/5
Apply now

on Ramp's website

Annual fee
$0
Rewards rate
1%-1.5% Cashback
Intro offer
N/A

Our pick for

Businesses with smaller bank balances

BILL Divvy Corporate Card

Read Review
Apply now

on BILL Spend & Expense's website

Annual fee
$0
Rewards rate
1x-7x Points
Intro offer
N/A

Pros

  • No annual fee
  • Card-level spending controls
  • No personal guarantee
  • Available to sole proprietors

Cons

  • Complicated rewards structure with limits on redemption
  • Cannot carry a balance
  • No new cardholder bonus offer

BILL Divvy Corporate Card

NerdWallet rating 

3.6/5
Apply now

on BILL Spend & Expense's website

Annual fee
$0
Rewards rate
1x-7x Points
Intro offer
N/A

Other picks: Best corporate credit cards

Before applying, confirm details on the issuer’s website.

IO Card

Best for: Venture-funded startups who want flat-rate cash back
This card has not been rated by NerdWallet.
The IO Card is offered by the financial technology company Mercury, which specializes in software, e-commerce and biotech startups (though other businesses can qualify). This card includes 1.5% cash back across the board, and cash back is automatically deposited into your account; you don’t have to redeem points. You’ll need a Mercury business bank account to be eligible, but you can qualify with a balance as low as $25,000. Your credit limit will be determined by your account balance.

Rho Corporate Credit Card

Best for: Flexible qualification requirements
This card has not been rated by NerdWallet.
Rho doesn’t have a minimum annual revenue requirement or a firm bank balance requirement — though you’ll have to upload 12 months of financial statements so Rho can determine your business’s credit limit.
The Rho credit card is a complement to Rho business checking, savings and treasury accounts, but you don’t have to bank with Rho to use the card — you can pay your bill from an external account. And Rho corporate cardholders can earn 1.25% cash back by paying the card off daily or 1% cash back by paying it off monthly.

How do you qualify for a corporate card?

To qualify for a corporate credit card, you typically need annual revenue in the millions and a dozen or more employees authorized to make spending decisions for the company. Your business also needs to be incorporated as an S-corporation or a C-corporation, or structured as a limited liability company (LLC).
Specific requirements can vary from one card issuer to another. Historically, corporate card programs from major card issuers have required millions of dollars in annual revenue and at least six figures in annual credit card spend.
Corporate credit cards from fintech companies may have more attainable requirements. The Ramp Card, for example, is available to incorporated businesses with at least $25,000 in a business bank account, and the Rho Card doesn’t have a specific bank balance or revenue requirement (though both are underwriting criteria). Neither have spend requirements, though Ramp asks you to estimate your card spend on your application.
These applications may also consider your business history, revenue and how much capital you’ve raised during the underwriting process.

Benefits of corporate credit cards

There are several advantages to choosing a corporate card program:
  • Better expense reporting. Corporate credit card programs offer businesses robust ways to track expenses. Your cardholding employees typically will be able to file their expenses electronically, saving you time dealing with expense reports. Also, it will be easier for you to see where and how your employees are spending your company's money.
  • Ability to set spending limits. Setting rules for spending is crucial for business success. Corporate card programs offer employee credit cards and let managers set limits on the amount of spending and the categories in which employees can spend. Many companies forbid the personal use of a corporate credit card.
  • Personal credit is protected. Corporate cards do not affect your personal credit. Approval is based on your company’s revenue and business credit score (among other factors), and payments on the card — as well as any missed payments — are recorded on the company’s business credit report.
  • Reduced personal risk. Unlike business credit cards, corporate cards do not require business owners to sign a personal guarantee. That means your personal assets are not on the line if an employee misuses a card or your company folds and can’t pay the outstanding balance.

Drawbacks of corporate credit cards

Corporate credit cards also have disadvantages, including:
  • In-depth application process. Setting up a corporate line of credit will likely be a more involved process than applying for a business credit card online. Card issuers will evaluate your business stability to establish creditworthiness, so be prepared to share your legal and financial information for corporate card approval.
  • Can’t carry a balance. Corporate cards generally require full payment at the end of each billing cycle, and those cycles can be as short as a day, so won’t be able to put a big purchase on your corporate card and then pay it off over several months. If that's a need, consider a business card with a 0% APR intro period instead.
  • May require a minimum number of cardholders. Some corporate card issuers require that eligible corporations sign up for a minimum number of employee cards. If your business doesn’t need that many authorized cardholders yet, you may want to research cards that do not have that requirement — or hold off on getting a corporate card until then.

Who is liable for purchases on a corporate card?

Corporate credit cards allow multiple employees to use cards to make purchases on the employer's behalf. Who is legally responsible for those charges depends on the card; some default to corporate liability, while others give you the option to choose between corporate, individual or joint liability.

Corporate liability

The company is responsible for paying the bill. The issuer doesn't check employees' credit. Employees file expense reports so the company can reconcile charges with the card statement each month, but the employee doesn’t have to pay the bill upfront. This is the standard with most corporate card programs.

Individual liability

Employees must pay all charges on the card, and they get reimbursed when they file an expense report. The issuer will check employees' credit before giving them a card, but this check is a “soft pull,” meaning it doesn’t affect employees' credit scores.

Joint liability

The company and the employee are responsible for debt on the card. Employees are responsible for repaying personal or unauthorized spending on the corporate card but are not personally held liable for any expenses charged in compliance with company policies. However, if a long overdue balance gets reported to credit reporting bureaus, it may affect the employee’s credit.
Last updated on November 15, 2024

Methodology

NerdWallet's Credit Cards team selects the best credit cards for small business based on overall consumer value, as evidenced by star ratings, as well as their suitability for specific kinds of small-business operators. Factors in our evaluation include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as special financing arrangements, free cards for employees or tools for managing business expenses. Learn more about how we rate business credit cards.
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