MoneyGeek's Take

Best Business Credit Cards for No Annual Fee in 2023

Using a no-annual-fee business rewards credit card gives you the ability to capitalize on your spending without paying to use the card. Certain rewards credit cards also offer higher reward/cash back rates on category-based spending.

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This article is part of our larger series on Best Business Credit Cards

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Last Updated: 6/27/2023

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Not having to pay an annual fee is ideal for business owners who aren’t looking for extensive features or perks from their rewards credit cards. Plus, some of the top no-annual-fee business rewards credit cards also come with sizable welcome bonus offers. If your business expenses involve spending more across specific categories, such as gas or office supplies, you might benefit from credit cards that offer higher cash back/reward rates on category-based spending. For companies whose employees travel internationally for business, consider looking at business cards that charge no foreign transaction fees.

OUR REVIEW AT A GLANCE

Our Top 3 Picks
Summarized List of All Winners
Tips for Comparing Credit Cards

This article is part of our larger series on
Best Business Credit Cards

MoneyGeek's Take: Top 3 Business Rewards Cards with No Annual Fee

Quick Summary

The best business rewards credit cards with no annual fees include ones that offer flat earn rates as well as ones that let you earn higher rewards/cash back when you spend across specific categories. We accounted for this when selecting the top three cards in this category, and we also paid due attention to welcome offers, APRs, foreign transaction fees and added benefits. You’ll find more options by scrolling further down the page.

Capital One Spark Cash Select for Excellent Credit
- 1.5% Cash BackRewards Rate
- 18.49% – 24.49% VariableAPR
- $0Annual Fee
- ExcellentRecommended Credit
This card is a great all-round business card, offering a decent flat rate for rewards, a sizable sign up bonus and the convenience of no additional fees for foreign transactions. If you're a small business owner looking for a no-annual-fee cash back card, this deserves a spot on your shortlist.
Terms, rates and fees apply
Ink Business Unlimited® Credit Card
- 1.5% Cash BackRewards Rate
- 18.49% – 24.49% VariableAPR
- $0Annual Fee
- Good–ExcellentRecommended Credit
The Ink Business Unlimited® Credit Card is a practical choice for small business owners seeking simplicity and value. Its straightforward unlimited cash back rate on all purchases means you don't need to worry about tracking bonus categories. With a generous welcome offer, it's a great choice if you anticipate significant initial expenses. Plus, you won't have to think about offsetting the cost of this card, as there is no annual fee. Free employee cards will also help consolidate business expenses and accelerate rewards earning. However, due to its foreign transaction fee and lack of intro APR for balance transfers, you may want to explore other options if you have frequent international expenditures or need to transfer a balance transfer. The Ink Business Unlimited® Credit Card is a versatile card offering substantial rewards and benefits for most small businesses.
Terms, rates and fees apply
Compare this credit card with other top-rated business credit cards from our partner.
Costco Anywhere Visa® Business Card by Citi
- 1–4% Cash Back*Rewards Rate
- 20.49% VariableAPR
- $0Annual Fee
- ExcellentRecommended Credit
We recommend the Costco Anywhere Visa® Business Card by Citi for small businesses that are Costco members and are looking for a no-annual-fee card. Category-based spending lets you earn up to 4% cash back. You may redeem the cash back you earn at Costco Warehouses across the U.S. This card also comes with a competitive APR for purchases.
Using this card when traveling outside of the U.S. makes sense as it does not charge any international transaction fees.
Purchases you make using this card receive cover through extended warranty as well as damage and theft purchase protection.
Cardholders may also use the Citi Entertainment and Citi Concierge services to good effect.
Terms, rates and fees apply
Compare this credit card with other top-rated business cards from our partners.

Summary of the Best Business Cards for No Annual Fee

Check out this no-annual-fee business rewards card comparison table to see how the best cards in this category fare across parameters such as who these cards might work best for, annual fees, reward rates and the credit required to apply.

MONEYGEEK PRO TIP

Business credit cards are an excellent opportunity to double up on welcome bonuses and rewards with your favorite brands. You can generally combine the rewards earned from your personal and business credit cards to accelerate free travel, elite status and higher cash back redemptions. -- Lee Huffman, credit card expert at BaldThoughts.com.

How to Compare Business Credit Cards & Intro Offers

What one person regards as the best no-annual-fee business rewards credit card might not work equally well for another person. This is because these cards have multiple differences that target them to specific types of businesses. You’ll want to take your individual requirements into consideration before making a selection.

Rewards/cash back rate

Consider if you might benefit more by earning a flat rewards/cash back rate on all categories or higher earn rates on category-based spending. For instance, the Capital One Spark Cash Select for Excellent Credit and the Ink Business Unlimited® Credit Card let you earn 1.5% cash back on all business purchases. On the other hand, the Costco Anywhere Visa® Business Card by Citi lets you earn up to 4% cash back on category-based spending. However, purchases that don’t fall under its bonus categories earn just 1% cash back.

Welcome offers

Most top no-annual-fee business rewards credit cards have time- and spend-based welcome offers for new cardholders. For example, the Capital One Spark Cash Select for Excellent Credit comes with a chance to earn a $500 cash bonus after spending $4,500 on purchases in the first three months. Some of these cards come with introductory time-based 0% APR offers on purchases.

APR

It is common for business rewards cards to come with higher APRs than business cards without rewards/cash back. As a result, if you plan to carry a balance on your card from one month to the next, consider looking at what low-interest cards for businesses have to offer.

Foreign transaction fees

If you or your employees travel outside of the U.S. for business-related purposes, getting a card with no foreign transaction fees might be in your best interest. With banks charging foreign transaction fees of up to 3%, eliminating these hidden charges can boost your bottom line. No-annual-fee business rewards credit cards that fit this bill include the Capital One Spark Cash Select for Excellent Credit and the Costco Anywhere Visa® Business Card by Citi.

Additional perks

Despite having no annual fees, you can expect card-specific features and benefits such as free employee cards, purchase protection, extended warranty, basic travel insurance coverage, roadside assistance and access to expense management tools.