Business travel credit card benefits to look for
Quick insights
- Different business travel credit cards offer different benefits and ways to earn rewards.
- Some examples of these benefits include travel insurance, point transfer programs and the ability to set employee spending limits on company cards.
- Before applying for a credit card, it may be useful for business owners to determine which benefits and features are important to them.
There are many reasons why a business owner may want to explore business credit card options. For starters, it can help with separating business and personal finances. These types of credit cards also allow cardmembers to earn rewards by spending money on eligible everyday business purchases.
However, business owners whose employees frequently travel may want to consider business travel credit cards. These credit cards may provide additional travel-related benefits for companies.
Read on to learn more about what kinds of features to consider when choosing a business travel credit card.
How business travel credit cards work
Business travel credit cards often allow cardmembers to earn either points or airline miles by spending in eligible categories. Categories may include travel expenses (like dining, airfare and lodging) or day-to-day business expenses (like advertising or office supplies).
Some business travel credit cards also let cardmembers redeem rewards for travel-related expenses like airfare, hotel stays or rental cars. Because of this, business travel credit cards might be good options for companies that schedule frequent work trips.
Business travel credit card benefits
When searching for the right business credit card for travel, business owners may want to think about which benefits and features would complement their company. Below are some common business travel credit card benefits to consider:
Flexible reward redemption
It’s common for business travel credit cards to allow cardmembers to earn airline miles on eligible purchases. However, some business owners may prefer a more flexible reward redemption system.
For instance, each Chase Ink business credit card allows cardmembers to redeem points for cash back, statement credits, gift cards, travel experiences and more. Credit cards with flexible redemption opportunities may be ideal for businesses that want more flexibility with their rewards.
However, credit cards that prioritize airline miles may provide more value for those businesses whose employees travel often, as airfare and lodging can add up over time.
Travel-related benefits
Many business travel credit cards provide benefits that could be useful while employees are traveling. This might include:
- Travel insurance, which may include lost luggage and baggage delay reimbursements
- Rental car insurance
- Roadside assistance
Some hotel or airline-specific credit cards may also offer benefits like complimentary hotel stays or access to select airport lounges.
1:1 point transfer capabilities
Business travel credit cards that offer 1:1 point transfers may allow cardmembers to transfer credit card points to participating frequent travel programs at full 1:1 value. One example of a business credit card that offers this is the Chase Ink Business Preferred® Credit Card. Points may be transferred to eligible airline or hotel programs.
Introductory offers
Many credit cards on the market offer introductory offers or sign-up bonuses to new cardmembers. These offers may provide additional rewards or airline miles to those who are eligible. To qualify for eligibility, the cardmember will need to reach a certain spending threshold within a designated period of time.
Expense management features
Companies whose employees travel often may benefit from expense management features. Some business credit cards (including the Chase Ink suite of credit cards) allow cardmembers to request individual employee credit cards at no additional cost.
These credit cards are linked to the company account, so employees can make purchases on behalf of the business. This can help streamline the expense management process, because employees won’t need to use personal credit cards and request reimbursements.
Other important business credit card features to consider
Business expenses can quickly add up when employees are traveling. It may be wise to select a credit card that provides insights into spending over time. Chase Ink gives cardmembers 24/7 access to view account details, quarterly reports with up to 24 months of statement details and more.
Regularly reviewing business expenses can be a helpful way to identify spending trends and cost-cutting opportunities.
Many business credit cards also allow primary cardmembers to set spending limits for authorized users, which may help streamline the expense management process. With a Chase Ink credit card, business owners can use the Chase Mobile® app to manage authorized users’ spending limits.
In summary
Different businesses have different priorities, so the right credit card for one may not be ideal for another. Businesses whose employees go on work trips may want to consider the potential benefits of opting for a business travel credit card. These credit cards are designed to make travel easier for companies. Before applying for a business credit card, think about what types of features would be useful and how you’d prefer to redeem any rewards you earn.
