This year’s 5-Star Rated business credit cards revealed

If you run a business and are looking for ways to trim costs, you may want to take a look at which business credit cards on our database have been found to offer outstanding value.

Managing cash flow can be crucial for any business, and a credit card could be a useful tool for that. For example, when it’s needed, access to a revolving line of credit may make it easier for your business to handle everyday expenses, and to earn rewards on business-related spending.

That being said, business credit cards can pose many of the same risks as personal credit cards, particularly when it comes to accumulating debt. High interest rates and fees could make a credit card an expensive tool, at a time when reducing costs is a priority for many businesses.

To help businesses find a credit card that suits their needs and offers outstanding value compared to other similar cards, Canstar Research has assessed 40 products from 14 providers on our database. Read on to find out how Canstar Research evaluated business credit cards, and to learn which ones came out on top this year.

How were business credit cards assessed?

The methodology for Canstar’s Business Credit Card Star Ratings assessed products based on both price and features.

To reflect a range of needs and spending levels among Australian businesses, the products were assessed against one or more of the following consumer profiles:

  • Low Rate: For businesses that want a credit card with a low interest rate and flexible repayment conditions.
  • Rewards: For businesses seeking to earn the optimal return on their everyday spending through their credit card. There are three sub-profiles for Rewards cards, based on annual spend amounts of $36,000, $60,000, and $120,000.
  • Frequent Flyer: For businesses looking for a credit card that will allow them to redeem rewards points for flights. There are three sub-profiles for Frequent Flyer cards, based on annual spend amounts of $36,000, $60,000, and $120,000.

When it comes to Frequent Flyer credit cards, business owners may want to bear in mind the current restrictions on international and domestic travel, as well as how they may affect your ability to earn and redeem points. This could have an impact on the value you get from your credit card overall.

Price score

A product’s price score was determined by looking at its estimated net cost over 12 months. This was calculated based on the card’s annual fees and how much interest a business would pay on a revolving debt of $10,000 over a six-month period.

For Rewards and Frequent Flyer cards, Net Reward Return was also taken into account when calculating the price score. A product’s Net Reward Return was calculated by weighing the value of any Rewards likely to be earned in a 12-month period against any fees charged for access to the Rewards program, as well as the interest charged on one month of revolving debt.

Feature Score

Each product’s feature score was determined by looking at its standard features and, where applicable, its rewards features. The standard features taken into account included ease of application, transacting options, interest-free days, ease of account management, customer support facilities and ease of credit card closure.

Rewards features taken into account included rewards program fees, options for redeeming points, point-earning caps, and point expiration policies.

In all three profiles, Canstar Research used the same weighting of 70% price and 30% features to determine a product’s final score and rating.

For more information on how business credit cards were rated, you can read the methodology.

This year’s 5-Star Rated business credit cards

The tables below show the business credit cards that received a 5-Star Rating in each profile, sorted by provider name (alphabetical order).

Low Rate

Provider name Product name
Bank of Melbourne BusinessVantage Visa
BankSA Visa Business
Newcastle Permanent Business+ Credit Card
St. George Bank BusinessVantage Visa
Westpac Business Choice Everyday Visa Card

Rewards $36k spend

St. George Bank Amplify Business – Rewards Option
Suncorp Bank Business Credit Card – Standard Option

Rewards $60k spend

St.George Bank Amplify Business – Rewards Option
Suncorp Bank Business Credit Card – Standard Option

Rewards $120k spend

American Express Business Explorer Card
ANZ Business Black

Frequent Flyer $36k spend

Bendigo Bank Qantas Business Credit Card

Frequent Flyer $60k spend

American Express Business Explorer Card
Bendigo Bank Qantas Business Credit Card

Frequent Flyer $120k spend

American Express Business Explorer Card
American Express Velocity Business Card

For more information on our Business Credit Card Star Ratings, you can read the methodology and view the full results.

This article was reviewed by our Sub-editor Tom Letts and Finance Editor Sean Callery before it was published, as part of our fact-checking process.

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