Best No Annual Fee Business Credit Cards Of May 2024

Business owners seeking a card with no annual fee and easy-to-manage travel rewards have good reason to be enthusiastic about the Capital One Spark Miles Select for Business*. Redemptions can be made straight through Capital One for simplicity but can also offer additional value for those willing to transfer to Capital One’s travel partners.

Rewards: Earn 1.5 miles per dollar on every purchase.

Welcome offer: Earn 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening.

Other benefits and drawbacks: The Capital One Spark Miles Select for Business* doesn’t charge foreign transaction fees, so it’s a good choice if you plan to travel abroad. The card also offers car rental collision coverage.

If you want to earn flat-rate flexible Membership Rewards® points on all of your purchases, The Blue Business® Plus Credit Card from American Express (terms apply, see rates & fees) is an excellent choice as long as your spending stays under a certain amount. Cardholders don’t have to track bonus category spending or wonder which purchases will earn more rewards with this card considered the best for flat-rate flexible rewards.

Rewards: Earn 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases.

Welcome offer: Earn 15,000 Membership Rewards points after spending $3,000 in purchases in the first 3 months of account opening.

Other benefits and drawbacks: The Blue Business Plus earns valuable American Express Membership Rewards points, which can be transferred at a 1:1 ratio to airline and hotel partners.

The Blue Business Plus also offers car rental loss and damage coverage¹, extended warranty², purchase protection² and access to Amex Offers. The card’s lower earning rate after $50,000 in annual purchases means there are likely to be better options if your business spends significantly more per year.

The U.S. Bank Triple Cash Rewards Visa® Business Card* offers a high rewards rate on several everyday business spending categories which means it could provide the best earnings potential for businesses that spend heavily in those areas.

Rewards: Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 3% cash back at gas and EV charging stations, office supply stores, cell phone service providers and restaurants and 1% cash back on all other eligible purchases.

Welcome offer: Earn $500 cash back after spending $4,500 in the first 150 days of opening the account.

Other benefits and drawbacks: The U.S. Bank Triple Cash Rewards Visa® Business Card* also offers a $100 credit for recurring software subscriptions such as FreshBooks or QuickBooks.

The American Express Blue Business Cash™ Card (terms apply, see rates & fees) offers a no-frills option for small business owners who don’t want to pay an annual fee but still want to earn meaningful rewards up to a spending cap.

Rewards: Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.

Welcome offer: Earn a $250 statement credit after spending $3,000 in purchases in the first 3 months of account opening.

Other benefits and drawbacks: Businesses that spend more than $50,000 annually may do better with a card that doesn’t have the spending cap that the Blue Business Cash has. The American Express Blue Business Cash™ Card also offers car rental loss and damage insurance¹, extended warranty², purchase protection² and access to Amex Offers.

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is another great option for business owners seeking a no annual fee credit card that also helps them earn cash back with their every purchase, even if the card’s higher earning structure is capped, and purchases beyond the first $50,000 only earn 1% cash back.

Rewards: Earn 3% cash back in the category of choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. Earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year and 1% thereafter.

Welcome offer: Earn a $300 online statement credit after spending $3,000 in the first 90 days of account opening.

Other benefits and drawbacks: Card members who qualify for Preferred Rewards can see their rewards earning ability boosted by 25% to 75%, making this a much more enticing addition to their wallets. With somewhat flexible redemption options ranging from direct deposits into your Bank of America checking or savings account, a credit card statement credit or even a mailed check, plus an intro APR offer, this card does present an intriguing value proposition to business owners.

The Spark Cash Select from Capital One* can help business owners earn respectable cash back with each purchase and elevated earnings on select travel purchases.

Rewards: Earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel.

Welcome offer: Earn a $750 cash bonus after spending $6,000 in the first 3 months of account opening.

Other benefits and drawbacks: The card has no foreign transaction fee, so you can utilize it on your international travels without incurring extra charges. Additionally, it provides roadside assistance and extended warranty for your purchases, all with no annual fee.

The Ink Business Cash® Credit Card offers a high rate of cash back on spending in common business categories including office supply stores, internet, cable and phone services, gas stations and restaurants.

Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year and 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases.

Welcome offer: Earn $350 bonus cash back after spending $3,000 on purchases in the first three months and an additional $400 after spending $6,000 on purchases in the first six months after account opening.

Other benefits and drawbacks: The Ink Business Cash® Credit Card also offers an auto rental collision damage waiver when you’re renting a car for business purposes, purchase protection, extended warranty coverage and free employee cards.

It also includes a 0% introductory APR on purchases for 12 months, then a standard APR of 18.49% - 24.49% variable applies for purchases and balance transfers. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.

The Ink Business Unlimited® Credit Card provides a healthy flat-rate cash back program for businesses.

Rewards: Earn 1.5% cash back rewards on every business purchase.

Welcome offer: Earn $750 bonus cash back after spending $6,000 on purchases in the first 3 months from account opening.

Other benefits and drawbacks: The Ink Business Unlimited Card offers a 0% introductory APR for 12 months on purchases, then a 18.49% - 24.49% variable APR applies for purchases and balance transfers. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.

The card also includes purchase protection, extended warranty coverage and an auto rental collision damage waiver when renting for business purposes. Cardholders can benefit from employee cards at no additional cost.

If you’re new to entrepreneurship and starting a small business, all the work that goes on behind the scenes can feel daunting. A new unique offering, the Hello Alice Small Business Mastercard®*, offers rewards as well as access to business advisors and coaches to help you along your journey.

Rewards: Earn 4 points per dollar on eligible wireless telephone services and business software purchases, 3 points per dollar on eligible office supplies and shipping purchases, 2 points per dollar on eligible rideshare and restaurant purchases and 1.5 points per dollar spent on all other purchases.

Welcome offer: Earn a $50 statement credit after spending $1,000 within the first 3 billing cycles after account opening.

Other benefits and drawbacks: The card includes a 0% intro APR on purchases and balance transfers made in the first 6 billing cycles from account opening, then a variable APR of 19.99% - 28.99% applies. A balance transfer fee of either $10 or 5% of the amount of each transfer, whichever is greater, applies. The card also offers car rental insurance and the ability to earn points that can be redeemed for cash back, gift cards or virtual learning events.