Travel credit cards can be a valuable tool for business owners looking to maximize their company’s travel. These cards offer a range of benefits, from earning rewards on travel expenses to providing travel insurance and other perks. However, with so many options available, it can be overwhelming to choose the right travel credit card for your business. In this article, we will explore the top travel credit cards for business owners, their benefits, and how to make the most of them.
1. Understanding Travel Credit Cards
Before diving into the best travel credit cards for business owners, it’s important to understand what these cards are and how they work. Travel credit cards are a type of credit card that is specifically designed to cater to the needs of frequent travelers. These cards typically offer rewards and benefits that are tailored to travel-related expenses, such as flights, hotels, and rental cars.
Travel credit cards often come with a sign-up bonus, which is a large number of bonus points or miles that you can earn after meeting a certain spending requirement within a specified time frame. These sign-up bonuses can be a great way to quickly accumulate rewards and offset the cost of future travel expenses.
In addition to sign-up bonuses, travel credit cards also offer ongoing rewards for every dollar spent. These rewards can be in the form of points, miles, or cash back, and can be redeemed for various travel-related expenses. Some travel credit cards also offer additional perks, such as airport lounge access, travel insurance, and concierge services.
2. Choosing the Right Travel Credit Card for Your Business
With so many travel credit cards available, it’s important to choose the one that best suits your business needs. Here are some factors to consider when selecting a travel credit card:
- Rewards Program: Look for a card that offers rewards that align with your business travel needs. For example, if you frequently fly with a specific airline, a co-branded airline credit card may be a good choice.
- Annual Fee: Consider whether the benefits and rewards offered by the card outweigh the annual fee. Some travel credit cards have no annual fee for the first year, while others may have a higher annual fee but offer more generous rewards and perks.
- Foreign Transaction Fees: If your business involves international travel, it’s important to choose a travel credit card that does not charge foreign transaction fees. These fees can add up quickly and eat into your rewards.
- Travel Insurance: Check whether the travel credit card offers travel insurance coverage, such as trip cancellation/interruption insurance, baggage delay/loss insurance, and emergency medical coverage. These insurance benefits can provide valuable protection during your business trips.
- Additional Perks: Consider any additional perks that may be important to your business, such as airport lounge access, concierge services, or complimentary hotel elite status.
By carefully considering these factors, you can choose a travel credit card that offers the most value for your business.
3. Top Travel Credit Cards for Business Owners
Now that you understand the basics of travel credit cards and how to choose the right one, let’s explore some of the top travel credit cards for business owners:
Chase Sapphire Preferred
The Chase Sapphire Preferred is a popular travel credit card that offers a generous sign-up bonus and flexible rewards program. With this card, you can earn 60,000 bonus points after spending $4,000 on purchases within the first three months of account opening. These points can be transferred to various airline and hotel loyalty programs, providing you with flexibility when it comes to redeeming your rewards.
In addition to the sign-up bonus, the Chase Sapphire Preferred offers ongoing rewards of 2x points on travel and dining purchases and 1x point on all other purchases. The card also comes with valuable travel benefits, such as trip cancellation/interruption insurance, primary rental car insurance, and no foreign transaction fees.
American Express Business Platinum
The American Express Business Platinum is a premium travel credit card that offers a range of exclusive benefits and perks. With this card, you can earn 75,000 Membership Rewards points after spending $15,000 on qualifying purchases within the first three months of account opening.
The Business Platinum card offers a variety of travel benefits, including airport lounge access (including Centurion Lounges, Priority Pass Select, and Delta Sky Club), a $200 airline fee credit, and a $100 Global Entry/TSA PreCheck credit. Cardholders also receive complimentary Gold status with Hilton Honors and Marriott Bonvoy, as well as access to the Fine Hotels & Resorts program.
CitiBusiness/AAdvantage Platinum Select World Mastercard
If you frequently fly with American Airlines, the CitiBusiness/AAdvantage Platinum Select World Mastercard can be a great choice. This card offers a sign-up bonus of 65,000 AAdvantage bonus miles after spending $4,000 in purchases within the first four months of account opening.
In addition to the sign-up bonus, the CitiBusiness/AAdvantage Platinum Select card offers ongoing rewards of 2x miles on American Airlines purchases and select business categories, and 1x mile on all other purchases. Cardholders also enjoy benefits such as a free checked bag on domestic American Airlines flights, preferred boarding, and 25% savings on in-flight Wi-Fi purchases.
4. Maximizing Your Travel Credit Card Benefits
Once you have chosen the right travel credit card for your business, it’s important to maximize the benefits and rewards offered by the card. Here are some tips to help you make the most of your travel credit card:
- Take Advantage of Sign-Up Bonuses: Be sure to meet the spending requirement to earn the sign-up bonus. This can provide a significant boost to your rewards balance.
- Use the Card for Business Expenses: Use your travel credit card for all business-related expenses, such as flights, hotels, and dining. This will help you earn rewards faster.
- Redeem Rewards Wisely: Take the time to understand the redemption options available with your travel credit card. Some cards offer more value when redeeming for travel, while others may offer cash back or gift cards as redemption options.
- Utilize Travel Benefits: Make use of the travel benefits offered by your card, such as airport lounge access, travel insurance, and concierge services. These perks can enhance your travel experience and provide added value.
- Keep Track of Expenses: Use expense tracking tools or apps to keep a record of your business expenses. This will make it easier to reconcile your credit card statements and ensure that you are maximizing your rewards.
By following these tips, you can make the most of your travel credit card and maximize the benefits and rewards it offers.
Travel credit cards can be a valuable tool for business owners looking to maximize their company’s travel. By choosing the right travel credit card and understanding how to make the most of its benefits, you can earn valuable rewards, enjoy exclusive perks, and save money on your business travel expenses.
Remember to carefully consider the rewards program, annual fee, foreign transaction fees, travel insurance coverage, and additional perks when choosing a travel credit card. Once you have selected the right card, be sure to take advantage of sign-up bonuses, use the card for business expenses, and redeem rewards wisely.
With the right travel credit card in hand, you can take your business travel to the next level and make the most of every trip.