How to maximize travel rewards on your business credit card
Quick insights
- Some business credit cards focus on travel rewards, like airline miles.
- Other benefits of some business credit cards with travel rewards may include lost luggage reimbursement and travel insurance.
- Business credit cards that focus on travel rewards may be useful for companies with employees who take business trips often.
There’s a wide range of business credit cards on the market, some of which focus on travel-related rewards. With these types of credit cards, companies can earn airline miles or other rewards from everyday business purchases.
Travel rewards business cards may be a useful option for companies whose employees frequently travel for work. This way, individuals can use the business credit card to pay for work travel and earn airline miles or cash back for future trips.
Read on to learn more about the benefits of business travel credit cards, how to maximize travel rewards earnings and how to choose the right credit card for your business.
Benefits of business travel credit cards
Using a business credit card can be a helpful way for companies to separate business and personal expenses for bookkeeping purposes. Some businesses may benefit from a credit card that prioritizes travel-related rewards, though.
Here are a few potential benefits of opting for a travel rewards credit card:
- Points and miles: Depending on the credit card you choose, you can earn rewards points or airline miles for future business trips.
- Travel-related benefits: Some travel business credit cards offer lost luggage reimbursement, rental car insurance, priority boarding and more.
- Streamlined reimbursement process: Providing employee credit cards for travel purposes may simplify the expense management process. If employees use company credit cards for business travel purchases (like flights or hotel rooms), they won’t have to use personal credit cards and wait for reimbursement.
Business credit cards in general may also help companies track spending patterns and identify areas for cost savings. In turn, they can use this data to create more realistic budgets.
Maximizing travel rewards with your business credit card
If your company uses travel rewards credit cards, you may want to learn how to maximize potential rewards. Here are a few things you may want to consider doing when using a business credit card that prioritizes travel rewards:
Understand the card's rewards program
Credit cards have different rewards structures, so a card that works for one business might not be ideal for another. Before selecting a business credit card, it may be wise to research its rewards structure and point redemption options.
For example, rewards points for those with an Ink Business Preferred® Credit Card are worth 25% more when redeemed through Chase Travel℠. This could be a good option for those who frequently travel. Keep in mind that this credit card has an annual fee.
Some business credit cards offer either cash back or miles; not both. If redeeming points for travel is important to you, you may want to choose a credit card with either travel-specific or flexible redemption opportunities. For instance, each Ink Business Credit Card allows cardmembers to decide whether they want to redeem points for travel, statement credits and more.
Book travel with your business credit card
Some travel-specific business credit cards provide additional benefits when you use your card for travel-related purchases. For example, some hotel credit cards may allow you to earn points at an accelerated rate when you use your card to book hotel rooms or make purchases at eligible hotels. Airline credit cards may offer similar accelerated earning rates for booking airfare.
Before booking accommodations for your next work trip, you may want to see if you could earn additional points by using your business credit card.
Review bonus offers and promotions
Many credit cards have bonus offers or promotions for new cardmembers. If you’re in the market for a new business credit card, you may be able to earn this type of reward and use it for booking future business travel (if you are approved for the credit card).
While these promotions differ by credit card, they often involve spending a certain amount during the first few months after opening the card.
Regularly review and analyze your spending patterns
Even after you’ve had your business credit card for some time, it can be useful to monitor your ongoing spending habits. This may allow you to identify areas where you can optimize rewards earning potential.
For example, you might be using a credit card to purchase office supplies that doesn’t allow you to earn points at an accelerated rate. If your business travel rewards credit card does allow you to earn additional points on those purchases, it may be a good idea to start using that credit card for similar purchases.
Choosing the right business travel credit card
If you’re interested in applying for a business travel credit card, you may want to consider the following criteria:
- Point accumulation: You may want to search for a credit card that provides accelerated earning opportunities in your most common business expense categories.
- Point redemption: Before applying for a credit card, it can be helpful to find out how you can redeem the points that you earn.
- Point transfer: Some business credit cards, like the Ink Business Preferred card, offer 1:1 point transfer to participating frequent traveler programs. This means that you may be able to exchange rewards points for airline miles or hotel stays.
- Annual fees: Credit cards that offer ample travel benefits often have an annual fee. Consider checking whether a credit card has an annual fee, and the amount of that fee, before applying.
- Additional travel benefits: Some business credit cards provide additional travel benefits. For example, all Ink credit cards offer Auto Rental Collision Damage Waiver and Lost Luggage Reimbursement benefits. The Ink Business Preferred and Ink Business Premier® credit cards also offer Baggage Delay Reimbursement. Trip Cancellation/Trip Interruption Insurance is also available on the Ink Business Preferred card.
Note that the Ink Business Preferred and Ink Business Premier cards both have an annual fee.
In summary
Some business travel credit cards can offer a way to earn points that could potentially be redeemed for airline miles, hotel stays and other travel benefits. But because business credit cards provide different ways to earn and redeem points, you may want to consider researching a credit card’s rewards structure before applying. You can also consider searching for a credit card that offers additional travel benefits for work trips, like travel insurance or Purchase Protection.
