Business Credit Cards and Charge Cards

Compare a range of business credit cards and charge cards with Mozo to find a competitive interest rate and the right features for your business.

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Business credit and charge cards comparisons on Mozo - last updated 24 February 2024

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  • NAB Low Rate Business Card

    13.25% p.a.

    55

    $60 $0 in the first year

    A business credit card with a competitive interest rate and low annual fee ($60). Personalise your cards with your business name and attach multiple cards and set individual credit limits under one facility.

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  • Apply By 2 Apr 2024
    American Express Qantas Business Rewards Charge Card

    n/a

    51

    $450

    Earn 150,000 bonus Qantas Points when you apply by 2 April 2024, are approved and spend $3,000 on eligible purchases on your new American Express® Qantas Business Rewards Card within 2 months of your approval date. T&C’s apply. Available for new American Express Card Members only.

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  • Apply By 23 Jul 2024
    American Express Business Explorer Credit Card

    23.99% p.a.

    55

    $149 $0 in the first year

    Enjoy $0 Annual Card Fee (usually $149) in the first year when you apply by 23 July 2024 and are approved for the American Express® Business Explorer Credit Card. T&C’s apply. Available for new American Express Card Members only.

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  • NAB Qantas Business Signature Card

    18.50% p.a.

    44

    $295

    Receive 100,000 bonus Qantas Points when you spend $4,000 on everyday business purchases within 60 days of account opening. Earn points on ATO payments at the same rate as regular everyday business purchases. Eligibility criteria, T&Cs, fees and charges apply. New cards only.

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  • American Express Velocity Business Charge Card

    n/a

    51

    $249

    Earn 200,000 bonus Velocity Points when you apply by 15 May 2024, are approved and spend $5,000 on eligible purchases on your new American Express® Velocity Business Card within 2 months of your approval date1. Plus join the Virgin Australia Business Flyer program to jump direct to Tier 2 and receive a complimentary 12-month Velocity Frequent Flyer Gold Membership if you meet the eligibility and minimum spend criteria2. T&C’s apply. Both offers are available for new American Express Card Members only.

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  • NAB Rewards Business Signature Card

    18.50% p.a.

    44

    $175

    100,000 BONUS POINTS when you spend $4,000 on everyday business purchases within 60 days of account opening. With over 1,000 rewards to choose from including gift cards, merchandise, flights and more you can decide whether you'd like to reward yourself, your employees or your business.

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  • American Express Gold Business Charge Card

    n/a

    51

    $249

    Stay on top of business expenditure with the American Express Gold Business Charge Card. No pre-set spending limit. 51 days to pay for your purchases. Earn up to 1.5 Membership Rewards points per $1 spent. Spend with Dell and receive up to $150 back per year. 2022 Mozo Experts Choice Credit Card Provider of the Year.

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  • Apply By 9 Apr 2024
    American Express Platinum Business Charge Card

    n/a

    55

    $1,750

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Business credit card resources

Reviews, news, tips and guides to help find the best business credit card for you.

Business credit cards - what you need to know

Company or business credit cards are one of the most popular ways for Australian businesses big and small to manage cash flow and everyday expenses. They can be an excellent alternative to relying on cash or having to take out a larger loan, plus many cards come with the additional perk of earning you rewards points on purchases.

But which is the right card for your business and what are the factors you’ll need to weigh up when comparing cards? We’ve wrapped up the key features of business credit cards below, including some of the most frequently asked questions about them.

What are the types of business credit cards?

Like personal credit cards, there are a range of different types of business credit cards on offer, each with their own set of benefits and drawbacks. As a business you’ll need to determine which type of card best matches your needs. Some of the most common types of cards including: low interest, low annual fee, rewards and platinum.

Low rate business credit cards

Do you generally carry a balance on your credit card each month? If so, it may be worth comparing low interest rate cards to reduce the interest on your debt. For some perspective, business credit card interest rates in the Mozo database range from around 7.50% all the way up to 25%, with a low rate card typically classified as having an interest rate below 13%.  

Low fee business credit cards

Looking for a no frills card that lets you pay for your business expenses without costing the world? Given that annual fees on some platinum and rewards cards can easily go into the hundreds of dollars, you may want to think about a more budget-friendly option like a low fee business credit card.

Rewards business credit cards

These cards reward you with points when you spend on eligible purchases, which can then be redeemed for everything from flights to gift cards. Whether it’s a frequent flyer rewards program (like Qantas or Velocity) or the rewards program offered by your provider, there are plenty of points earning options out there.

Platinum business credit cards

Want the next step up from a rewards card? Platinum business credit cards tend to offer even more generous rewards point earn rates and bigger bonus offers than standard rewards cards, plus they often come with additional features such as complimentary insurances (including travel insurance) and other membership perks.

Business credit card fees and features to consider

So now that you know about the types of business credit cards that are available, what are some of the features and costs you’ll need to weigh up when comparing business credit cards? Here are some of the main ones:

Interest rate: The interest rate (or purchase rate) on your card might not be important if you’re paying your balance off on time each month, but if you’re likely to carry a balance then finding a card with a lower interest rate can help you keep your costs down.   

Annual fee: With fees ranging from tens to hundreds of dollars, it’s worth comparing the annual fee attached to a credit credit card to ensure that it doesn’t overshadow the benefits it provides.  

Interest free days: Many business credit cards come equipped with anywhere from 40 to 55 interest free days for card holders who are able to pay off their balances each statement period.

Overseas fees: Do you, or someone else in your business, regularly travel internationally for work? If that’s the case and you use your business credit card to pay your way overseas then it may be worth checking out the foreign exchange margin on the card. 

Rewards: Accruing rewards points is one of the main perks associated with using a business credit card, but not all cards are alike, so it’s worth making sure that you’re familiar with the points earning rate on offer, as well as what those points can be redeemed for.

What is a charge card?

Charge cards function very much like credit cards, except instead of a pre-set spending limit, your card issuer will approve purchases based on factors such as your spending patterns and credit history. Cardholders will have to pay off their balance in full each month, and failure to do so will incur fees or penalties. Because of the way charge cards are structured, there are no interest rates and minimum repayment amounts as there are with credit cards.

How is a charge card different from a credit card?

A charge card differs from a credit card in a few important ways. For one, it doesn’t have any pre-set spending limits, which can mean increased flexibility and greater purchasing power for cardholders. 

There’s also the fact that charge cards do not incur any interest. And unlike credit cards, which allow you to pay off your balance over time, your charge card balance must be paid off in full each month otherwise a fee will apply.

Business credit card funding alternatives 

Here are some of the other common funding solutions Australian businesses rely on: 

Personal credit cards 

As we mentioned above, there are a number of reasons why it can be beneficial to use a business credit card over your personal one. However, that doesn't mean you won’t be able to use a personal card for everyday business expenses. For a range of personal credit cards, check out our credit card comparison tables. 

Business line of credit 

Similar to a business credit card, a business line of credit is essentially a revolving credit facility which businesses can draw down on to pay for everything from employee salaries to invoices. The benefit of a line of credit over a credit card can be in the fact that lines of credit are often larger.   

Business loan 

One of the most popular financing options for businesses big and small is a business loan. Business loans range in size (generally from $5k - $500k), can be secured or unsecured and can be used for a range of purposes including new equipment purchases, paying wages and even business expansions.

Picture of Niko Iliakis
Niko Iliakis
Money writer

Niko Iliakis worked as a finance journalist at Mozo for four year until his departure in April 2023. He specialised in home loans, property and interest rate movements. With an eye for facts and figures, Niko deep-dived into topics to help readers understand key info and make more informed financial decisions. He is ASIC RG146 (Tier 2) certified for general advice.

More FAQs about business credit cards

Will I pay more interest and fees on a business credit card?

Not necessarily. Like personal credit cards, business credit cards have a wide range of interest rates and fees depending on the card provider and the type of card. As we mentioned above, the business credit card interest rates in the Mozo database range from as little as 7.49% all the way up to 24.99%, while annual fees and other costs tend to vary between low cost credit cards and rewards or platinum cards. 

One way to reduce the amount of interest you pay is simply by paying off the balance on your credit card each statement period. 

What are the best credit cards for small business?

There is no single best small business credit card, as the right match for your business will depend on your needs. Some small businesses may prefer a low rate or low fee card to help keep their costs down, while others might rather the ability to earn points or make use of platinum features. 

One way to compare some of the best business credit cards in Australia is with the Mozo Experts Choice Business Credit Card Awards. Our 2019 awards judged 35 different credit cards in order to find the best options across a number of categories. 

Can I use my personal credit card for business?

Yes you can, it’s not uncommon for business owners to rely on their own personal cards. However, there may be a number of benefits to opting for a business credit card instead. These include being able to clearly separate your personal and business finances, simplifying your records and obligations come tax time, making use of additional cards for other employees, and having any business-related insurance features at your disposal should you need them.   

How do I apply for a business credit card?

So you’ve identified a business credit card that ticks all of your boxes you’re ready to apply. But what will you actually need to apply and are there any general requirements you or your business will need to meet?

  • Identification: Credit card providers will generally ask for a mix of identification when you apply, so make sure you’ve got your passport, driver’s licence, birth certificate or medicare card handy
  • Business and financial details: Aside from personal identification, you may also need to provide personal or business tax returns, payslips, accounting details and your Australian Business Number (ABN) or Australian Country Number (ACN). 
  • Minimum requirements: Some of the common requirements you’ll need to meet in order to apply for a business credit card include being at least 18 years old, an Australian citizen or permanent resident, and your business may need to make a minimum annual turnover and be registered for GST. 

To start comparing business credit cards for yourself, check out the handy table above or head over to the 2019 Mozo Experts Choice Business Credit Cards Award winners list for some of thebest credit cards in Australia. Alternatively, if you’re interested in a personal card instead, then check out our credit card comparison page where we compare over 200 offers from 60 different  banks.