If you own a business, you’ll understand the juggle that often comes between cash flow and expenses and how a business credit card can help to navigate this.
One way business owners can manage this is to use a credit card specifically intended for business. Different from a regular credit card, these cards cater to a high monthly expenditure and usually offer a variety of rewards programs.
In this guide, we’ll take a closer look at business rewards credit cards and compare the fees, charges, features and benefits of some leading options available in Australia.
Having a business rewards credit card can benefit your business by rewarding you with extras for your business spending.
Typically awarded in the form of reward points, you may then be able to redeem these towards:
Additionally, many of these cards also come with complimentary insurance for travel and purchases, fraud protection, airport lounge access passes or similar perks.
The following is a comparison of 6 business reward credit cards available in Australia.
Note: All fees are listed in Australian Dollars and information is accurate as of 23 November 2023.
This option from Qantas and American Express, allows you to link your Qantas frequent flyer membership to your credit card and accrue Qantas Points on all eligible spending.
| Card | American Express Qantas Business Rewards Card |
Fees | - Annual fee of $450 - 3% fee on foreign currency transactions |
Rewards/Points | - Earn up to 1.25 Qantas points per $1 spent on eligible business expenses - Earn up to 2 Qantas points per $1 spent on Qantas products and services - Points earned flying are tripled when eligible flights are booked using the card |
| Exchange rate used | Variable, based on customary industry sources |
P.A. Interest rate | Variable 22.99% (based on FPO interest rate) |
Credit limit | No pre-set spending limit |
Pros | Cons |
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Issued via Westpac, this business credit card also offers to boost Qantas frequent flyer points through your eligible business expenditure.
Card | Westpac BusinessChoice Rewards Platinum Mastercard |
Fees | - $150 card fee annually per card linked to the account - $89.50 Qantas Business Rewards fee (waived for new Westpac customers) - 3% cash advance fee - 3% foreign transaction fee |
Rewards/Points | - Earn 0.75 Qantas points per $1.50 spent on eligible purchases - Earn 0.5 Qantas points per $1.50 spent on government payments |
Exchange rate used | Variable rate based determined by Mastercard |
P.A. Interest rate | Variable 20.24% on both purchases and cash advances |
Credit limit | Starts from $1000, upper limit determined on application |
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With a low annual fee and the choice between two associated rewards programs, the Suncorp Clear Options Business Credit Card offers flexibility but also has multiple fees to consider.
Card | Westpac BusinessChoice Rewards Platinum Mastercard |
Fees | - $45 annual fee - $45 per additional card annually - $20 per year, per card for Standard Rewards membership or; - $69 per card per year for Premium Rewards membership with Qantas - 3.4% international transaction fee - 1.5% cash advance fee - 3.5% of transaction amount or minimum charge of $3.50 for cash withdrawals in Australia |
Rewards/Points | Standard Rewards - 1 Suncorp reward point per $1 spent on eligible transactions. Up to 80,000 points per year to spend in their online rewards catalogue Premium Rewards With Qantas FF - 1 Suncorp reward point per $1 spent on eligible transactions. Up to 80,000 points per year which can be redeemed as 2.5 Suncorp reward points for 1 Qantas point |
Exchange rate used | Variable rate based determined by Visa |
P.A. Interest rate | - 18.45% on purchases - 19.45% on cash advances |
Credit limit | Minimum $2000, maximum $250,000 |
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Not linked to Qantas as with most of these business reward cards, the NAB Rewards Business Signature Card offers a high points earn rate and a wide range of points redemption options.
Card | NAB Rewards Business Signature Card |
Fees | - $175 per year, per card - 3% or $3 cash advance fee, whichever is greater - 3% international transaction fee |
Rewards/Points | - Earn 1.25 NAB reward points per $1 on eligible everyday business purchases - Earn 2.5 NAB reward points per $1 spent in major department and hardware stores - Earn 3.75 NAB reward points per $1 spent with Webjet when travelling overseas or on overseas purchases made from within Australia |
Exchange rate used | NAB’s applicable exchange rate on the day the translation is initiated |
P.A. Interest rate | - 18.5% on purchases - 21.74% on cash advances |
Credit limit | Minimum $5000, maximum determined on application |
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Similarly to the Suncorp and NAB cards, the CommBank Business Platinum Awards credit card gives you the choice between two awards programs.
Elect to earn CommBank awards points or opt-in for an additional fee, outlined below, to earn Qantas points instead.
| Card | CommBank Business Platinum Awards credit card | |
| Fees | - $300 annual fee - $75 additional cardholder fee annually - $30 per year if opting in for their Qantas points program - 1.5% of the transaction amount or $2.50 whichever is greater on cash advances in Australia - 1.5% or $4 whichever is greater on overseas cash advances - 3% fee on international transaction | |
| Rewards/Points | CommBank Awards Program - Earn 1 point per $1 spent up to 300,000 points per year Qantas Points Program - Earn 0.4 Qantas points per $1 spent up to 120,000 points per year | |
| Exchange rate used | Variable rate determined by Mastercard | |
| P.A. Interest rate |
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| Credit limit | Minimum $6000, maximum determined on application |
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Another option suited to Qantas frequent flyers, the ANZ Qantas Business Rewards card offers several tiers within their points earning system.
Card | ANZ Qantas Business Rewards |
Fees | - $300 (waived in your first year) - $75 rewards fee per card per year (waived in your first year) - $1.50 or 1.5% fee whichever is greater on cash advances - 3% overseas transaction fee |
Rewards/Points | - Earn 1 Qantas point per $1 spent on eligible Qantas products and services - Earn 0.75 Qantas points per $1 spent on eligible purchases up to $15,000 per statement period - Earn 0.5 Qantas points per $1 spent on eligible purchases over $15,000 per statement period |
Exchange rate used | Variable rate determined by Visa |
P.A. Interest rate | - 20.74% on purchases - 21.74% on cash advances |
Credit limit | Minimum $5000, maximum determined on application |
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