Compare Business Credit Cards

Our Business Credit Card report is a good starting point to help you review Business Credit Cards on the market

 

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What to look for in a business credit card

What type of credit card does my business need?

Canstar is not able to give you personalised advice about the needs of your business. However, in general, the type of business credit card that a business is suited for will depend on how they intend to use the card.

Business credit cards usually come in three distinct types:

Business Low Rate Card

What is it? Low Rate business credit cards come with – as the name suggests – a low interest rate and flexible repayment conditions.

What is it useful for? The low rate option may be suited for a business that is revolving a debt on the card from month to month.

Business Low Fee Card

What is it? Low Fee business credit cards can have a low or no ($0) annual fee.

What is it useful for? The low fee option may be suited for a business that usually pays off its card balance in full and is seeking a low cost option for day-to-day business spending. If a business does not use its card very often, it might consider a low fee card. Having a credit cash flow option for the business can be vital, but business owners shouldn’t have to pay an excessive amount for the privilege.

Business Rewards Card

What is it? Rewards business credit cards or charge cards come with a rewards program attached. The rewards offered may include cash-back, gift cards/shopping vouchers, frequent flyer rewards, merchandise, entertainment or lifestyle rewards – all of which we research and assess in our ratings.

What is it useful for? A rewards option may be suited for a business that could make the most out of earning rewards for their spending on a company credit card or charge card. Such a business would have to put a high volume of transactions through its card each month and always pays off the balance of its card.

If a business does not use its card very often, then it does not make sense to get a rewards card, as they would be paying more in annual fees than they would receive back in rewards.

 

Generally speaking, the key features of a business credit card are its:

  • Interest rate
  • Annual account fee
  • Rewards scheme 
  • Accessibility
  • Additional costs including overdrawn and late fees

Other features businesses may want to take into account include:

  • The maximum number of cards available for one account
  • Fees associated with additional cards
  • Maximum credit limits
  • Introductory interest rate offers
  • Interest free days, the date interest is calculated and the grace period before interest is charged
  • Security protections
  • Insurances against loss, theft and travel

What features are best suited to my business?

The size and performance of your business will likely dictate your credit card requirements. 

Businesses with a revolving debt may benefit from a card with a lower interest rate whereas a smaller business seldom utilising the cards’ facilities may seek a card with low account fees.

Canstar always advises seeking the advice of your bank or a financial professional. 

5-Star Winners

Bank of the Year - Business Credit Cards
BNZ wins Canstar award
Business Low Rate
Outstanding Value Award Winner
BNZ wins Canstar award
Kiwibank wins Canstar 2017 Award
Business Low Fee
Outstanding Value Award Winner
BNZ wins Canstar award
Kiwibank wins Canstar 2017 Award
Business Rewards
Outstanding Value Award Winner
BNZ wins Canstar award
Westpac logo
Most Satisfied Customer Award - Business Credit Cards
BNZ wins Canstar award