Best Start-Up SME Business/Corporate Credit Card

Best Start-Up SME Business/Corporate Credit Card

Are you curious about unlocking the full potential of credit card rewards for your business expenses? With a business credit card, you can enjoy even more cash back, miles, and perks compared to a personal credit card. It works the same way as your personal credit card does. The only difference is that you’ll be earning these rewards from your business spending. In this blog post, we’ll delve into the exciting world of corporate/business credit cards, ensuring that you have all the information you need to make an informed decision. Join us as we uncover the hidden perks and benefits that await you!

Best Corporate/Business Credit Cards in Hong Kong

We have prepared a captivating comparison table showcasing interest-free periods, cash rebates, air miles, airport perks, and annual fees.

Corporate/Business Credit Cards Interest-free Period Cash Rebates Miles Airport Lounge Annual Fee
HSBC World Business Mastercard Up to 56 Days $1 Rebate for every HKD250 spend HK$12.5 = 1 Mile 4 access per year First 2 years waived*
Airwallex Borderless Card N/A 2% cash rebate in the first two months (up to USD260 per account.

1% cash rebate on local spending.

N/A N/A N/A
American Express Gold Business Card Up to 51 days 0.83% cash rebate HK$6 = 1 Mile (local spending) 2 access per year First year waived

HK$980 afterwards

American Express Business Card Up to 51 days Basic:

0.33% cash rebate

Turbo:

0.66% cash rebate

HK$7.5 = 1 Mile N/A HK$400 for Basic Card and HK$275 for supplementary card
*The annual fee after two years depends on the number of credits card released.

HSBC World Business Mastercard

If you’re an HSBC business account holder, HSBC Business Mastercard is an excellent choice!

You can enjoy up to a 56-day repayment period and earn back HK$1 for every HK$250 purchase on either local, overseas or online transactions.

Going for a business trip? HSBC Business Mastercard also grants you 4 complimentary access to global airport lounges each year, plus a 7-day free travel insurance if you buy flight tickets with this card.

For now, you may earn up to $6,600 in Reward Cash as a welcome offer. Click here for more information.

HSBC logo
Fee Waiver
First 2 Years
Miles
HK$12.5 = 1 Mile
Local spending cash rebate
$1 RewardCash = HK$1 cash credit

Airwallex Borderless Card

Airwallex specializes in international payment transactions, so you can easily pay with your multi-currency balance and start saving on international transaction fees and Forex. But note that Airwallex is not a traditional bank but a Money Service Operator (MSO) that provides financial services for business owners.

That being said, it does not provide an interest fee payment period like a traditional bank. But they’re offering an unlimited 1% cash rebate on local spending and a 2% cash rebate for the first 2 months (up to USD260 per account).

And for now, if you succeed in applying for an Airwallex Borderless Card, you instantly earn 10,000 Asia Miles for account opening and additional 10,000 Asia Miles after your first transaction till 31 Mar 2023. Click here for more information.

Airwallex logo
MoneySmart Exclusive
Save on global expenses
Foreign Currency Transaction Fee
N/A
Annual Principal Fee
N/A
Supported Currencies
140+

American Express Gold Business Card

With this American Express Gold Business Card, you can enjoy a welcome offer of up to HK$2,400 and a rebate of 0.83% for local spending. Plus, you can take advantage of up to 51 credit-free days and no pre-set spending limit, which can be incredibly helpful for businesses with varying cash flow needs.

As a bonus, American Express is also offering a first-year annual fee waiver of HK$980 with 3 complimentary supplementary cards.

Looking for a business credit card that offers an Air Miles sweet deal? Check out the American Express Gold Business Card—for every HK$6 you spend, you can earn a mile. That means it only takes HK$75,000 spending to earn a round-trip ticket to Japan.

For now, if you sign up for an AWS account for your company in Hong Kong, you can enjoy up to US$550 AWS promotional credit for New Accounts (Existing Accounts: US$500).

Click here for more information.

Sponsored
American Express logo
MoneySmart Exclusive
Uncapped 1% rebate on foreign currencies expenses
Annual Principal Fee
Annual Fee Waiver in First Year
Foreign Currency Spending Bonus
Up to 3X points^
Local Spending Bonus
Up to 2X points^

American Express Business Card

American Express Business Card is an entry-level business card. You’re eligible to get one if you’re an owner, partner, shareholder, CEO, managing director or executive of a company. As for the perks, not so bad for an entry card; it offers a 0.66% cash rebate if you join their Turbo program (HK$250 fee/year, which can be waived from rebates).

If you pay for your travel tickets with this card, travel insurance is offered for your trip.

Click here for more information.

Why Do You Need a Corporate/Business Credit Card?

If you got your personal credit card, why bother getting an extra business card? In fact, there’s much that a business credit card can offer. Here are the several benefits to convince you that you might need a corporate credit card.

Extra Cashback, Miles or Other Rewards

Why limit yourself to personal credit card rewards when you can unlock even more with a business card? Imagine earning extra cash rebates or bonus miles for your business expenses. A business card functions just like a personal card, offering enticing perks like cash rebates, air miles, and exclusive rewards tailored to your business.

  • Airwallex Go Global Business Traveller Card is offering a 2% cash rebate on all card spending in the first two months (up to USD260 per account) and an unlimited 1% cash rebate on all local spending afterwards. Plus, up to 20,000 miles as a welcome offer awaits you.

Better Cash Flow and Financial Flexibility

Running a successful business is no easy feat. And one of the biggest challenges for businesses is to keep the money flowing. But what if I told you using a business credit card can gain you some “extra cash flow” in your game?

A business credit card comes with a higher spending limit so that you can leverage the credits and make those big-ticket purchases with ease. And don’t forget the Interest-free period may last from 50 days to 2 months, which gives enough time for cash to flow back to you.

Let’s be real, who doesn’t love a little extra purchasing power and to be a bit flexible with money?

Easier Business Budgeting

Using a business credit card for your company can save you time in separating personal expenses and business expenses to make a clean record!

Better Business Credit Score

You can improve your business credit score simply by using a business credit card and paying your bills on time. Sounds easy, right? But this small act can be a major advantage when it comes to applying for loans or other types of financing.

If you need to apply for a business loan for expansion, your credit score can save you a great deal of interest. And the best part? Your personal credit score won’t be affected.

Interested to know more about SME Funding/Loans? Click here to check out for more information.

Managing a Business Credit Card

Business credit cards are specifically designed to provide companies with efficient ways to monitor their expenses. These cards come with various online management tools and quarterly reports, making it easy for you to track transactions and expenses for each department and project.

What’s more, a business credit card can do better cost control. It often allows you to set spending limits for each business card and track your employee spending. So you don’t spend money on unauthorized purchases.

What’s the Difference Between Business Credit Card and Personal Credit Card?

Business credit cards and personal credit cards are both credit cards, but what’s the difference? The answers lie in what they can do:

A business credit card has a higher credit limit than a personal credit card. You can make larger purchases, pay vendors and suppliers easily, and generally better manage your expenses.

Business cards are able to track your employee spending and set spending limits on individual cards can help you stay on top of your budget and prevent unauthorized purchases, providing you with greater control over your company’s finances.

Not only that, business credit cards often come with rewards programs that cater to the needs of businesses, such as cashback rewards on travel-related expenses, such as free travel insurance that covers flight delays or trip cancellations.

Plus, corporate cards often come with a range of perks, such as free lounge access and airport transfers. The American Express Gold Business Card offers the perk of two complimentary lounge access visits. In addition, the American Express Cathay Pacific Elite Corporate Card offers a 20% discount on dining, as well as various discounts and exclusive offers when travelling overseas.

Understand Credit Card Terms

We know those look like a sweet deal, but hold on! Don’t forget to check out the credit terms to make sure you’re eligible for such offers. Example time, American Express offers the best deals for Air Miles, but do note that these are only for local transactions. So, do check the terms before applying for one.

How to Apply for a Business Credit Card?

If you’ve found your jam, that’s it; you’re all set to apply for a business credit card. But how to get one? Read on!

Who can apply for a business credit card?

In Hong Kong, only registered companies can apply for corporate credit cards, and some banks may have specific requirements for company size or other criteria.

Typically, applicants for corporate credit cards should be at the management level, and the company will usually make the application on behalf of the employee.

But what if you don’t have a registered company or a physical office? Don’t worry, as business credit cards aren’t just limited to traditional brick-and-mortar businesses. Freelancers and online store owners may also be eligible for small-business credit cards.

What documents are needed for the corporate card application?

In general, the following documents are required:

  • Business Registration Certificate
  • Identification Proof
  • Bank statements for the past 3 months
  • The latest Profits Tax Demand Note/ audited financial statements (within 18 months) / management accounts (within 12 months)

Conclusion

We can’t stress the benefits of a business credit card enough—extra cash flows, better cost control, clearer budgeting and more. So, if you’re interested in getting one, make your move soon not to miss the promotional deadline to get your welcome bonus!

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