How to maximize business credit card rewards

Quick insights

• You can maximize rewards by purchasing items that support your business needs such as office supplies, advertising, telecommunications and travel.
• It may be beneficial to explore other types of business credit cards to supercharge your earning potential like a business travel credit card or business gas credit card.
• Redeeming rewards typically involves signing into your account or through the card issuer’s mobile app, navigating to the rewards section and selecting your redemption option.

Earning rewards and points may be an appealing feature of using a business credit card. Maximizing business credit card rewards may offer several benefits such as cost savings, better cash flow, travel benefits and expense management tools for tracking purposes. You can look for business credit cards with high rewards rates on categories your business frequently spends on like travel, advertising or office supplies. Consider using a business travel credit card or business gas credit card to further optimize rewards for different spending categories.

What can I buy to earn back rewards using a business credit card?

Both startup and established businesses can earn rewards by making general purchases that support their business. There are various ways to earn rewards on your business credit card:

• Office supplies: Stationery, printer ink, furniture and electronics.
• Travel: Earn points or miles for travel-related purchases such as hotels and flights.
• Telecommunications: Phone, internet and cable services.
• Advertising: Online ads or social media promotions.
• Dining: Earn rewards for dining expenses such as team lunches or a meal with clients.
• Gas: If your business requires traveling by car, you can earn rewards on gas purchases.
• Utilities: Earn rewards on utility bills such as electricity, water and gas.
• Software and technology: Purchases of software subscriptions, computer hardware and other technology-related expenses may earn rewards.

In some cases, larger capital expenses like real estate purchases or major equipment investments might not be suitable for business credit cards due to their size and financing needs. Larger business expenses like the examples above often require specialized financing options.

How can I use my business credit card to get points or cash back?

You can use your business credit card to earn travel rewards which can be redeemed toward travel by making eligible business purchases. However, this is only valid if the business credit card has an accelerated earning rate on these specific categories. This does not apply to all business credit cards.

• Select the right card: Choose a business credit card that offers higher rewards for travel-related expenses.
• Use the card for travel: Use your business credit card to make all your business travel purchases. This can include flights, hotels, meals and rental cars.
• Sign-up bonuses: Some business credit cards offer sign-up bonuses for new cardmembers. Typically, you have to meet the minimum spending requirement after opening the account to qualify.

Do business gas credit cards help me earn cash back rewards for my business?

Yes, business gas credit cards can help you earn cash back rewards for your business. You can compare different business gas credit cards to find the best one with a favorable rewards structure for your specific business needs. Please note that Chase does not offer this type of product.

Some items to consider when selecting a business gas credit card include the following:

• Specialized rewards: You can earn cash back rewards on both fuel purchases and other items sold at gas stations.
• Expense tracking: Using a business gas credit card can simplify expense tracking by allowing you to track gasoline expenses. Some credit card companies have a dashboard or portal where cardholders can review and complete transactions or transfer rewards points.

How do I redeem rewards on my business credit card?

Redeeming rewards is typically the most enjoyable part of owning a business credit card. Below, we’ve listed the typical steps necessary to redeem rewards on your business credit card:

• Sign into your account: Visit the website of your business credit card issuer and enter your login information to access your account.
• Navigate to the rewards section: Once logged in, navigate to the rewards section. It may be labeled “rewards,” “points” or something similar.
• View your available balance: Look at your current rewards balance to see how much you’ve earned through your business credit card spending.
• Select your redemption option: Look at different reward options and follow the instructions to complete the redemption process. This can include cash back, gift cards, travel or merchandise.
• Confirmation: After your redemption has been processed, you should receive confirmation of the transaction.

In summary

Business owners can unlock benefits and rewards by leveraging their business credit card to cover expenses. To maximize your rewards on a business credit card, it may be a good idea to do a spending analysis to identify which categories represent the largest portion of your expenses. From there, you can select a business credit card that offers the highest rewards rates in those categories.

Additionally, timing large purchases with sign-on bonus offers can be a strategic move to maximize rewards and benefits from the credit card. As a business owner, you may want to do research to see which business credit cards will work well for your business cash flow and financial strategy.