Business Credit Card

12 Features to Look for When Choosing a Business Credit Card

The best business credit card carries features that elevate the experience of its users. Find out what kind of features are nice to have in this article.

Business credit cards are different from personal credit cards. The terms and conditions of most business credit cards prohibit card owners from using them for personal expenses. 

A small business credit card makes it easy for your Accounts Payable (AP) team to track expenses and disburse employee claims. The best business credit card should have several features that elevate the users’ experience aside from its primary task of facilitating payments.

12 Nice-to-Have Features of Business Credit Cards

Several business credit cards are on the market, varying in rewards, liability protections, eligibility, and features. How will you know which credit card will serve your business best? Check out some nice-to-have features below to help trim your list. 

1. Centralised employee expense monitoring

Linking your business credit card to an expense management dashboard aids in monitoring all employee spending, such as online subscriptions, office supplies, and marketing costs. Doing so allows you to gain visibility over employee card purchases and authorise them at the point of sale. However, not all business credit cards have this feature.

2. Fast credit card approval

Applying for a credit card in a bank or financial institution requires you to submit numerous documents to help review your business credit history. However, many options in the market today allow business owners to issue corporate cards to their employees as an alternative to credit cards to avoid the hassle of getting the bank’s approval.

Consider expense management and AP automation software like for your business spending and get access to corporate cards in as fast as 30 minutes.

3. Access to virtual cards

Since online stores have started gaining popularity, credit card providers have offered virtual cards to protect you from possible fraud and data breaches. Look for a business credit card with a virtual card option to use for your SaaS subscriptions and digital marketing expenses.

4. Safe and secure transactions

Ensure the security of your small business finances by assigning pre-approved funds to accounts or cards. Merchant locks, spending limits and two-factor authentication (2FA) create an additional security layer that reduces fraud risks and avoids overspending.

5. Spending and budget controls

Take control of your business expenses by assigning a budget to all employee cardholders. They can request additional funding if they have to spend more than their given allocation. 

6. Minimal or waived annual fees

Credit card annual fees are like membership fees. You must pay a particular amount to the credit card company every year, adding unnecessary business expenses. You can save money by choosing a business credit card with minimal or waived annual fees.

An expense management software offering business cards would often charge subscription fees for their software; however, they are typically bundled with other features such as local and overseas bill payments.

7. Employees can use it for business travel

Corporate cardholders can access travel-related perks such as free travel insurance, Airmiles or rewards points, minimal foreign transaction fees, free checked bags, and airport lounge access.

This feature makes your business life easier and more comfortable, especially when your employees need to travel for work. 

8. Offers cashback on card purchases

Earn business rewards and cashback on your business purchases with a business credit card. This feature helps you save on costs, which is especially helpful for procurement.  

With a virtual card, certain providers offer cashback on digital marketing spending and advertising to boost your promotions. 

9. Accessibility to small business owners

New businesses should work towards building their credit score as accessibility to ample cash flow will be helpful as your business grows. Small business owners establishing their credit rating can avail business credit cards to start the process. It can also help streamline your cash flow, ensuring proper fund allocation to your business needs. 

10. Doubles as an expense management tool

Manage your expenses securely with an online business credit card tied to an expense management account that you can access 24/7. You can view your statements and track all unbilled charges anywhere and anytime. Expense management software gives you complete control and visibility over employee spending. 

11. Availability of cards to all employees

A business credit card doesn’t have to be used exclusively by the management. You can extend the card to all employees to avoid tapping into their personal expenses since the card has access to a line of credit.

12. Accounting software integration

Several expense management tools that issue corporate cards integrate with popular accounting software, allowing you to sync your card expenses into your company’s bookkeeping software for faster reconciliation. This integration between the two software will automate mundane tasks, such as expense categorisation and reporting, for your AP team, improving their productivity.

Consolidate Company-Wide Spending

Many small business owners have recently discovered the benefits of using a corporate credit card. It can boost employee morale by giving them spending power to carry out projects and transactions on your behalf. 

If you plan to issue business credit cards to your employees, consider Spenmo Corporate Cards as an alternative. You can set up an account and start spending within 30 minutes! Provide physical and virtual cards to your employees that you can enable/disable with just one click and assign pre-approved funds to avoid overspending. 

Book a demo today.

*Disclaimer: This article is for general education purposes only. Spenmo does not make any representation, assurance or warranty, express or implied, as to its services or products offered, in this article. For the avoidance of doubt, Spenmo does not purport to issue any credit cards and issues only business corporate cards, which function as a debit card.

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