Corporate card reconciliation

Best corporate credit cards to earn reward points

September 18, 2019
|
5
Min Read

Using corporate credit cards can be a rewarding strategy for your business. The best corporate credit cards offer several benefits, both for your employees and your business. 

Some rewards include cashbacks, loyalty points, travel insurance, airport lounges, priority boarding, and more. 

We have created a list of the best corporate cards adhering to specific criteria. An ideal corporate card helps satisfy business needs. It also should help collect extra perks at the same time. 

Hence, businesses must pay close heed to the factors behind choosing a particular corporate credit card. You must decide upon what you want most from your card - rewards, cashbacks, or building good credit 

What rewards do the best corporate credit cards offer?

From traveling to different cities to purchasing everyday products, corporate credit cards help you earn cash, points, and miles with every dollar you spend. You can use these rewards to redeem some money, shop, or even travel.

Types of rewards on corporate credit cards:

  1. Cashback credit cards - Cashback credit cards help you earn cash after purchase.
  2. Co-branded credit cards - Co-branded credit cards usually partner with airlines or hotels. 
  3. General reward credit cards - Users can redeem points for gas, groceries, stationery, travel, merchandise, etc.

Let’s delve deeper: 

  • Cashback credit cards

Here, cardholders can claim cashbacks via cheques and direct deposits. Cashback credit card programs vary on the rate of cashbacks that cardholders earn. Depending on the card, users can avail 1.5%  cashback or more for spending on groceries, gas, etc.

  • Co-branded credit cards

Cardholders can earn points on this card when they purchase from specific brands. Co-branded reward cards also provide additional other perks to their users. 

For example, an airline brand usually offers priority boarding, access to airport lounges, and free checked baggage. Cardholders can also earn miles per dollar on all purchases and for every dollar spent on tickets from one city to another.

  • General rewards credit cards

General reward credit cards provide more flexibility in earning rewards and redemptions. It is an ideal choice if you want more options as to how to want to earn and redeem your points. Most businesses opt to go for these cards.

Best Corporate credit cards for travel rewards

sapphire-corporate-credit-cards

Annualfee $95APR17.99% - 24.99%, VariableCredit scoreGood/ excellentForeign Transaction Fee$0Highlight* Earn 60,000 bonus pointsafter you spend$4,000 on purchases in the first3 monthsfrom account opening
* $750 toward travel when you redeem through Chase Ultimate Rewards®
* 2X points on travel and dining at restaurants worldwide
* 1 point per dollar spent on all other purchases

chase-corporate-credit-cards

Annual fee$95APR17.99% - 22.99%, VariableCredit scoreGood/ ExcellentForeign Transaction Fee$0Highlight* Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months
* $1,000 toward travel when you redeem through Chase Ultimate Rewards®
* 25% worth more points when redeemed for travel through Chase Ultimate Rewards
* 1 point per dollar on all purchases
* No expiration on reward points

capital-one-corporate-credit-cards

Annual fee$0APR15.24% - 23.24% VariableCredit scoreGood/ ExcellentForeign Transaction Fee$0Highlight* A one-time bonus of 20,000 miles once you spend $3,000 on purchases within 3 months from account opening
* Earn 1.5 miles per $1 on every purchase
* No expirationon miles

Best corporate credit cards for cashback rewards

discover-it-corporate-credit-cards

Annual fee$0APR13.99% - 24.99% VariableCredit scoreGood/ ExcellentForeign Transaction Fee$0Highlight* 5% cashback up to $1500 at different places each quarter
* Unlimited 1% cashback on all purchases for
4-month
* 0% introductory APR on purchases and balance transfer

american-express-corporate-credit-cards

Annual fee$0APR15.24% - 21.24% VariableCredit scoreGood/ExcellentForeign Transaction FeeN/AHighlight* Earn 2X points on the first $50,000 in purchases each year
* 1X points on purchases there after
* Automatic cashback

Chase Ink Business Cash

chase-corporate-credit-cards

Annual fee$0APR15.24% - 21.24% VariableCredit scoreGood/ excellentForeign Transaction FeeN/AHighlight* Earn $500 bonus cashback after you spend $3,000 on purchases in the first 3 months from account opening
* Earn a 1% cashback on all other card purchases with no limit to the amount you can earn
* Free employee card

Best corporate credit cards for general rewards

Chase freedom unlimited

freedom-corporate-credit-cards

Annual fee$0APR16.99% - 25.74% VariableCredit scoreGood/ ExcellentForeign Transaction FeeN/AHighlight* $200 bonus after you spend $500 on purchases in your first 3 months from account opening
* Earn unlimited 1.5% cashback
* No expiration on cashback rewards

bank-of-america-corporate-credit-cards

Annual fee$0APR15.99% - 25.99% VariableCredit scoreGood/ ExcellentForeign Transaction FeeN/AHighlight* $200 cash rewards bonus offer and 3% in the category of your choice
* 2% cashback at grocery stores and wholesale clubs
* Unlimited 1% cashback on all other purchases
* Preferred Rewards members earn 25%-75% more cash back on every purchase

Wells Fargo propel American Express Card

wells-fargo-corporate-credit-cards

Annual fee$0APR15.99% - 27.99% variableCredit scoreGood/ExcellentForeign Transaction Fee$0Highlight* Get 30,000 bonus points when you spend $3,000 in purchases in the first 3 months
* Earn 3X points on popular categories
* Avail 1X points on other purchases
* Early access to exclusive events

SUGGESTED READS:

Major challenges in corporate card management

Best practices to manage corporate credit cards

How to pick the best corporate credit cards for rewards

Ensure you follow these tips before you pick a corporate credit card for your business. These pointers will help you navigate through the multiple cards out there in the market today. As a rule, be sure to pick a card that enables you to save money and earn rewards at the same time. 

  • Pick a card that integrates with an expense management software

A centralized expense management solution will help your finance teams immensely. With seamless corporate credit card reconciliations, your finance teams would no longer waste their time or efforts on expense management. 

Additionally, an AI-powered expense management software can also pull out real-time expense analytics based on your employee expenses. This will help you gain insights to improve company spends, manage operations, and avoid future financial risks.

  • Select a card that can help differentiate between personal and business expenses

Inaccuracy in separating personal and business expenses can reduce the chances of benefiting from tax deductions. An automated expense management software like Fyle, helps you save both time and effort.  

Among some of its features, an expense management software can match expenses to specific transactions, detect duplications and also split expenses. These features play a key role in streamlining and effectively managing your expense management processes.

  • Set business spending goals in alignment to rewards

Most credit card programs require you to spend a certain threshold amount within a certain timeframe. Align your regular business expenses with bonus requirements to avoid overspending or missing out on bonuses. 

An ideal way to go about this is, understand when specific card programs provide special offers or discounts. Map this information to your generic business expenses. If you can draw alignments, plan business expenses accordingly. 

Business expenses are opportunities to make use of corporate credit cards. Ensure you pick a card that not only serves your needs but also brings with it rewards and perks. No matter the type of business expenses, corporate credit cards are the best way for you to earn miles, points, and cash. With this in hand, we wish for you to make a wise pick.

Best-corporate-cards-to-earn-reward-points-fyle
Effortless expense management for all business spends. Earned time, saved costs, improved productivity, happy employees - achieve it all with a single software.

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