Business travel is getting back to normal - should you choose a business credit card?
It seems like business trips are back on the cards, with the Australian corporate travel industry tracking back at roughly 80% of pre-pandemic levels, according to the Flight Centre Travel Group.
While travel has taken a hit over the past few years, relaxed travel freedoms and open borders seem to have revived the industry. Predictions from the Global Business Travel Association had expected business travel to take until 2026 to recover, but current figures in Australia tell a different story.
Chief executive of Sydney’s International Convention Centre (ICC), Geoff Donaghy, says that the lasting impacts on global travel are not being felt as keenly in Australia. The ICC has seen domestic conference attendance back on the same level as it was in 2019, with a growing international presence.
Indeed, Flight Centre’s corporate travel arm has recovered to more than 89% of their business volume from prior to COVID-19, with the majority of that coming from domestic travel.
Travel can be an essential part of running a small business. From recruitment to networking, conferences to clients, there are a lot of reasons you might find yourself hopping on a plane on the company dime.
If it’s your company, figuring out expenses can be tricky. A business credit card might just be the option for you and your employees.
Why would I choose a business credit card?
Opting for a business credit card is a big decision, as it can take a little more navigation than picking your own personal credit card. After all, you aren’t the only person using this!
Business credit cards are designed to be used exclusively for business expenses, but allow you (and your employees) to put all of your work purchases in one place. This can make workplace spending easier to oversee and manage.
With a single overarching account, rewards points are often pooled to maximise on benefits throughout an entire company rather than just to one person. This can be especially beneficial for companies where you’ll be using those travel perks - as increasing numbers of people clearly are!
Pooling frequent flyer points, access to airport lounges and included travel insurance are some of the perks of many business cards.
Just keep in mind the fees that come with a business credit card are often higher than those associated with personal credit cards.
Learn about all things corporate card-related with our guide to business credit cards. If a personal credit card suits you better, find some standouts with the best credit cards.
Rewards Business Signature Card
- 18.50% p.a. purchase rate
- Earn up to 3.75 points per $1 spent, uncapped
- Redeem NAB Rewards points via Webjet on flights with any airline
An introductory purchase rate of 3.99% p.a. (reverts to standard 19.99% p.a. purchase rate after 6 months) makes the American Express Business Explorer Credit Card an attractive choice. This card could be a smart choice for frequent travellers with AMEX’s range of partnered airlines, and you’ll earn up to 2 points per $1 you spend. Right now, new American Express customers can also score 100,000 bonus points when they spend $3,000 in the first 3 months of the approval date (offer ends 5 October, 2022). An annual business revenue of at least $75,000 is required and an annual fee of $149 is attached, though employee cards do not carry an additional fee. Enjoy the ease of viewing employee spend in one statement and feed transaction data directly into MYOB. If you are planning business travel abroad, keep in mind the 3% foreign exchange margin for overseas transactions. This card won a 2021 Mozo Experts Choice Award for Rewards Business Credit Card^.
Business Explorer Credit Card
- 19.99% p.a. purchase rate
- Earn up to 2 points per $1 spent, uncapped
- Pay for select purchases with points
An introductory purchase rate of 3.99% p.a. (reverts to standard 19.99% p.a. purchase rate after 6 months) makes the American Express Business Explorer Credit Card an attractive choice. This card could be a smart choice for frequent travellers with AMEX’s range of partnered airlines, and you’ll earn up to 2 points per $1 you spend. Right now, new American Express customers can also score 100,000 bonus points when they spend $3,000 in the first 3 months of the approval date (offer ends 5 October, 2022). An annual business revenue of at least $75,000 is required and an annual fee of $149 is attached, though employee cards do not carry an additional fee. Enjoy the ease of viewing employee spend in one statement and feed transaction data directly into MYOB. If you are planning business travel abroad, keep in mind the 3% foreign exchange margin for overseas transactions. This card won a 2021 Mozo Experts Choice Award for Rewards Business Credit Card^.
Clear Options Business
- 18.45% p.a. purchase rate
- Earn 1 Suncorp Rewards point per $1 spent, up to 80,000
- Opt to trade in rewards points for for Qantas Frequent Flyer points
With the Suncorp Clear Options Business Card, choose what is important to you and your business. The 18.45% p.a. purchase rate and 55 interest free days are standard, while the annual fee starts at $45 per card. Opt into the rewards program for $20 per card, earning 1 Suncorp Rewards point per $1 spent (capped at 80,000). You can also opt for the premium membership tier, where for $114 per card, you can redeem 2.5 Suncorp Rewards points for 1 Qantas Frequent Flyer Point. Another award winner, this card took out a 2021 Mozo Experts Choice Award for Rewards Business Credit Card^. The card is accepted at over 29 million locations in 170 countries worldwide - just watch out for the 3.49% foreign exchange margin. You will have the ability to set individual spending limits, receiving individual statements for up to 99 employees.
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