What is a corporate credit card?

Corporate credit cards are designed for companies with revenue in the millions and with a large number of employees. That’s because corporate cards come with features like employee spending tracking to reduce fraud and misuse, manual-task automation and streamlining finance management.

What’s the difference between corporate and small business cards?

The size of the company these cards are meant for is the main differences between corporate and small business credit cards. This table explains a few other key differences.

Pros and cons of using a corporate credit card

A corporate credit card comes with some benefits, but there are downsides as well.

How do I qualify for a corporate card

The eligibility criteria vary between providers. In general, you need to have a revenue of at least $1 million, and some providers may even require a certain number of employees to use the card, to charge a certain amount each year and your company to be registered as an S or C corporation.

Should I get a corporate card?

If you need a large number of employee credit cards and if your business has a revenue of at least $1 million, a corporate credit card may be a better choice than a small business credit card.

Our pick for a small business corporate card
Brex 30 Card

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• The first corporate card for startups
• No personal liability or security deposit needed - your personal credit score won't be affected
• Minimum of $100,000 of funds in corporate bank account and US EIN required
• Earn 7x points on rideshares, 4x points on travel booked through Brex Travel, 3x points at restaurants, 2x points on software subscriptions and 1x points on all other purchases
• Get a credit limit 10 to 20 times higher than traditional business cards
• No foreign transaction fees
• Build business credit - Brex partners with Experian to report your on-time payments

Which banks issue corporate credit cards?

• JPMorgan Chase corporate card. You can choose between six available card options. This includes cards that offer rewards, streamline business-to-business purchases, give perks for travel and entertainment expenses and help government and nonprofit agencies.
• American Express corporate card. Select between seven corporate cards that streamline spending on travel and offer cash back on all purchases for a range of employees.
• Citibank corporate card. With eight cards under the Citibank umbrella, this is the largest selection of corporate cards you can find. Choose between travel cards, cards for meeting and event expenses and virtual account cards.
• Capital One corporate card. The only corporate card you’ll find with Capital One is its One Card that offers benefits like rewards, unlimited employee cards and no foreign transaction fees.
• Wells Fargo corporate card. The WellsOne® Commercial Card reduces manual processes by up to 90% and helps you expand your business globally with cards denominated in local currency.

What to consider when choosing a corporate credit card

Before you choose a corporate card, here’s what to keep in mind:

• Annual fee. Most corporate credit cards have an annual fee from $0 to $200, and some charge for each card your business owns. Make sure you can make the annual fee worth it through rewards and cash back before you choose.
• Interest rates. Most corporate credit cards are considered charge cards with no APRs. So you’re expected to pay the balance in full monthly.
• Foreign transaction fees. You can find strong travel corporate and business cards that waive the foreign transaction fees. If you choose a card that doesn’t focus on travel, you could be on the hook for fees at around 3%.
• Rewards. Rewards for corporate cards are unimpressive at about 1x for all purchases, if they offer any at all. If your card offers rewards, you can arrange it so your employees can use rewards as a perk, or you can accrue them on the main account to boost business earnings.
• Eligibility and business requirements. For corporate cards, eligibility criteria vary. But in general, your business will have to earn at least $1 million to $10 million annually.

Who is liable for corporate credit card expenses?

Corporate liability is most common with corporate credit cards. But if your business spends a lot and has many employees, some banks may tailor a liability program specific to your business.

• Corporate liability. In this case, the company is liable for all charges, except in specific circumstances when there are unauthorized charges.
• Individual liability. This program holds the employee fully liable for charges. Card issuers check employee credit scores with a soft pull and require that employees submit expense reports for company-related purchases.
• Combined liability. This makes both the company and each cardmember jointly liable for the credit card. In this case, the company isn’t liable for purchases that aren’t related to the company.

Tips for using a corporate credit card

• Consider creating a corporate credit card policy so your employees understand what spending is allowed in your company.
• Set up spending limits and controls for employee cards to help manage spending and set parameters.
• Setting up alerts to monitor card activity can help reduce fraudulent spending and help manage your budget.
• Incentivize employees by allowing them to cash in rewards for personal use.

Compare small business credit cards

If your business is not ready for a corporate card, consider applying for a small business credit card.

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Name	Product	Rewards	Purchase APR	Annual fee
Ink Business Unlimited℠ Credit Card		1.5% cash back on all purchases	0% intro for the first 12 months (then 13.24% to 19.24% variable)	$0	$750 bonus cash back after you spend $7,500 on purchases in the first 3 months after account opening.	See offer View details	Compare	loading Fetching your data...
Ink Business Preferred® Credit Card		3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases	15.99% to 20.99% variable	$95	100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.	See offer View details	Compare	loading Fetching your data...
Brex 30 Card		8x points on rideshares, 5x on Brex Travel, 4x at restaurants, 3x on software subscriptions and 1x points on all other purchases	N/A	$0	The first corporate card for startups. No personal guarantee or security deposit needed, meaning your personal credit score won't be affected.	Apply now View details	Compare	loading Fetching your data...

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Bottom line

With more invoices, employee credit cards and cashflow, your small business may be ready for a corporate card. These cards can help your business process payments easier and manage employee spending.

If your small business is still making less than $1 million annually, consider comparing small business credit cards.

Frequently asked questions

• Is there a difference between a corporate credit card and a commercial credit card?

  No, both of these cards are meant for multimillion-dollar corporations.

• Can I get a corporate credit card without a personal guarantee?

  Yes. Corporate credit cards don’t require a personal guarantee. However, banks require that your company provide some of its assets as collateral in case you fail to pay your balance.

• Can I choose what kind of liability I get with a corporate credit card?

  It depends. Most corporate credit cards offer corporate liability. However, some banks can tailor specific cards to your company so you can choose a liability option.

  To avoid card misuse with a corporate liability, make use of spending controls and limits. You can also create a spending policy agreement with your employees.