Business credit cards for retail businesses
Quick insights
- Retail business owners may benefit from choosing business credit cards that align with their spending habits and financial goals.
- When selecting a card, retailers may want to look for features like rewards, travel benefits, expense management tools and employee credit cards.
- Some business credit cards offer rewards for common retailer expenses like travel, shipping, digital advertising and utilities.
Every business is unique, and retailers can face industry-specific challenges such as managing cash flow during off-peak seasons, accessing reliable financing options and integrating expense tracking tools with limited administrative resources.
Some business credit cards have features to help retail businesses overcome these operational challenges and potentially help drive growth. Plus, these cards usually have higher spending limits than consumer credit cards and help keep business expenses separate from your personal finances.
Let’s take a closer look at business credit cards for retail businesses, including features to look for and a few credit cards you may want to consider.
4 Business credit card features for retail businesses
Here are a few features you may want to consider when evaluating your business credit card options.
1. Retail business-friendly rewards
The right business credit card rewards program could help offset operational costs by allowing you to earn rewards on eligible purchases. Some cards offer accelerated rewards earning potential for common retail expenses.
Spending categories that might align with retail business needs include:
- Travel: Flights, hotels and other travel-related expenses.
- Shipping: Costs for shipping inventory, customer orders, returns, equipment and more.
- Advertising: Ad spending on social media, search engines and other platforms.
- Utilities: Phone, internet, cable and other utility expenses.
Let’s say an antiques shop owner, Jerrell, frequently travels abroad to source merchandise. Jerrell uses a card with accelerated rewards on travel and shipping—his highest spending categories. As he travels to find antiques, he earns points on eligible airfare and accommodations and shipping costs to import goods.
The redemption options for the rewards program can be another factor. If you prefer flexibility, you might want to consider cards with a variety of redemption options (cash back, travel, online shopping with select merchants, etc.) so you can reinvest the points in your business.
If you hold personal and business credit cards from the same bank, you may be able to combine points.
2. Business travel benefits
Some business travel credit card benefits could help offset trip costs or boost your comfort during air travel. Certain cards come with travel protection benefits to reimburse eligible expenses if things go wrong during a trip.
Select business credit cards provide airport lounge access, though these cards may charge an annual fee. The annual fee may be worthwhile for retail business owners who frequently travel for trade shows, pop-up shops, supplier visits or other events.
If you work with international suppliers or travel abroad for your business, you may want to consider a card with no foreign transaction fees.
3. Expense management tools
Many business credit cards offer tools for managing expenses, often integrating with accounting software to help support accurate bookkeeping. They also might provide in-depth expense categorization, potentially aiding with financial reporting and tax preparation.
For example, a clothing shop owner, Marcella, uses her card’s expense categorization feature to track spending against her budget. She discovers she’s exceeded her budget for advertising and inventory purchases and adjusts her purchasing strategy accordingly.
4. Employee credit cards
Some business credit cards offer complimentary employee credit cards, allowing authorized individuals to make purchases on behalf of the business. This can reduce the need for time-consuming manual reimbursement processes. Plus, employee cards can generally earn rewards on eligible purchases for the primary cardmember’s account.
Typically, you can set individual spending limits on employee cards and monitor spending in real time. For instance, Mario, who owns a bookstore, receives an alert that an employee has exceeded the spending limit on his employee credit card. Mario addresses the issue with the employee and corrects a miscommunication regarding the budget for an upcoming in-store promotional event.
Credit cards for retail businesses
We’ve gathered a list of some business credit cards with rewards that might benefit retail business owners. Each card on the list comes with:
- Expense management tools that integrate with accounting software
- Complimentary employee credit cards
- Flexible rewards redemption, including cash back, gift cards, travel experiences and more
Chase Ink Business Preferred® Credit Card
Chase Ink Business Preferred offers features that could help support a retail business’s needs:
- 3x points on the first $150,000 spent in combined purchases on travel, internet, cable and phone services, shipping and social media and search engine advertising each account anniversary year
- 1x point per $1 spent on all other purchases (no limit on earning potential)
Keep in mind that Chase Ink Business Preferred has an annual fee.
Sapphire Reserve for Business℠ Credit Card
Sapphire Reserve for Business provides features to help support retail businesses’ travel and advertising needs:
- 8x points on all purchases through Chase Travel℠
- 4x points on eligible flights and hotels
- 3x points on eligible social media and search engine advertising
- Access to a network of airport lounges
Note that Sapphire Reserve for Business has an annual fee.
Chase Ink Business Cash® Credit Card
Retail businesses that have high operational expenses, such as utility bills, office equipment and hardware and printing supplies for marketing materials, could potentially benefit from Ink Business Cash. Features include:
- 5% cash back on the first $25,000 spent in combined eligible purchases on internet, cable and phone services and at office supply stores each account anniversary year
- 2% cash back on the first $25,000 spent in combined eligible purchases on gas stations and restaurants each account anniversary year
- 1% cash back on all other purchases (no limit on earning potential)
FAQs
Can a business get a store credit card?
Yes, some retail stores offer credit cards designed specifically for commercial use, often referred to as “business store credit cards” or “commercial credit cards.” These cards may provide discounts on bulk purchases or points redeemable for store merchandise or gift cards.
If you frequently make purchases from a retailer that offers a business store credit card, the card may be worth considering if it aligns with your spending habits and financial goals.
Can an LLC get a business credit card?
Yes, LLCs are eligible to apply for a business credit card. In fact, a wide range of business types and sizes can usually apply. Common business structures for retail businesses—including sole proprietors, partnerships, corporations and cooperatives—are also typically eligible.
Can I use my Employer Identification Number (EIN) to get a credit card?
When applying for a business credit card, there’s usually a field where you can provide your EIN (a number issued by the IRS to identify your business). While providing an EIN isn’t required, it can help establish your business’s distinct financial identity and reinforce that your personal and business finances are separate.
In summary
Retailers looking for a business credit card may want to consider features like rewards, travel benefits, expense management tools and employee credit cards. It’s generally recommended to choose a card that aligns with your business’s needs and goals.
Business credit cards with rewards on common retailer expenses like travel, shipping, digital advertising and utilities could be beneficial. Several Chase for Business® credit cards offer rewards in these categories.
