What to look for in a business charge or credit card in 2023

With the right card, you can help take your company to new heights.

Having the right tools at your fingertips is an essential part of succeeding in business – and the cards your company uses are no exception.

So if you're thinking about a new charge or credit card for your business, it's important to know which features to look out for.

1. Tracking spend

One of the big challenges of running a business is ensuring that you've got cash flow in place, and that it's being spread effectively across the people who require it within the business.

If you've got people relying on using their own funds and then expensing it later, it's not efficient. Expenses could also be overlooked until the last minute, or opportunities may be missed.

There's no reason to have to wait until the end of the month or the quarter to see what's been spent.

So by utilising a charge or credit card for you and your staff, you can centralise your accounting and have a clearer picture of who's spending what and where money is going.

This also makes things substantially easier when compiling expense reports.

Let's look at the American Express Platinum Business Card as an example. This charge card allows you to have up to 99 additional Employee Cards at no extra cost¹.

You can also create automatic transaction feeds for a variety of accounting programs including Quicken, Microsoft Excel and MYOB².

This allows you to see your expenses at a glance while also keeping them in an accountant-ready format.

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2. Enhance your cash flow and spend limits

Cash flow is a key life-line for every business. But as every business owner knows, your need for funds doesn't necessarily align with when your client's invoices are being paid.

This is where both charge and credit cards can prove useful.

Charge cards and credit cards do have some similarities – but they have some pronounced differences too.

For example, credit cards have a pre-set spending limit for every statement period. This can be prudent for organisations that are newly starting out as they don't want to overspend.

If you don't pay for purchases within a certain period, you'll also be charged interest. You may end up spending significantly more than the original purchase price on an item.

In contrast, charge cards don't have a pre-set spending limit³. Rather, your overall spend limit is calculated via spending patterns, repayment history, credit history and other considerations.

But as they're not tied to a limit, they can be effective for tackling unexpected expenses. Last-minute equipment repair required? No problem.

However, they need to be paid off at the end of each payment period. The American Express Platinum Business Card offers up to 55 days to pay – or you'll be charged late fees⁴.

Tools like this can ensure your staff have the purchasing power they need in the moment to take advantage of opportunities that can benefit your business.

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3. Rewards to offset business expenses and reward staff

When you're looking at potential charge or credit cards for your business, rewards can also provide you with extra value.

Some rewards can help you offset the running costs of the business and help provide a range of staff incentives. So make sure you choose wisely!

The right rewards can also help you hone your business skill set. To point to an example, the American Express Platinum Business Card provides members with a 12-month digital subscription to The Australian Premium⁶, which also gives you access to The Wall Street Journal.

Rewards points are also a very popular scheme among card providers. Depending on the specific provider, these can usually be exchanged for a variety of goods and services.

Flights, accommodations and travel costs tend to get the most press from points schemes – they're handy rewards to have access to as well. You can easily leverage them for business travel or staff incentives.

Some rewards can also be used to offset travel expenses more directly.

For example, the American Express Platinum Business Card provides you with Accor Plus membership valued at $399, with benefits including a complimentary night of accommodation each year and up to 50% off dining at selected partner restaurants⁷.

Membership also provides access to more than 1,400 airport lounges around the world, plus complimentary travel insurance under certain circumstances⁸.

Learn more about the American Express Platinum Business Card

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Product AUCCF	Bonus points	Rewards points per $ spent	Complimentary travel insurance	Minimum annual revenue	Annual fee
American Express Platinum Business Card Finder Award	250,000	2.25	Yes	$75,000	Annual fee $875 first year ($1,750 after)	ABN holders w/ $75,000 revenue. Get 250,000 Membership Rewards Bonus Points when you spend $12,000 on eligible purchases in the first 3 months. Plus, a first-year annual fee discount.	Go to siteMore Info Compare	loading Fetching your data...

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• Extra info about American Express

  1. Employee Cards: American Express approval criteria apply. Subject to Terms and Conditions. Fees and charges apply. This offer is only available to those who reside in Australia. Employee Card Members must be over 18 years of age. Prior to 1 August 2023, the Business, the Basic Card Member and each Employee Card Member are jointly and severally liable for all Employee Card spending. On and from 1 August 2023, American Express will be making changes to the Terms and Conditions of American Express Business Card products in Australia which will include the removal of the liability of Employee Card Members for charges incurred on their Employee Card. Each employee is entitled to only one (1) Employee Card.

  2. MYOB Integration: MYOB bank feed is available to American Express Cards issued by American Express Australia Limited with the exception of David Jones American Express Cards and American Express Corporate Cards. The Card must be active at the time of enrolment.

  3. No pre-set spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial resources known to us.

  4. Extend your cash flow by up to 55 days: Depending on your method of payment, when you make a purchase, when your statement is issued and whether or not you are carrying forward a balance on your account from your previous statement period. If you pay by direct debit, your payment will be processed 10 days after your statement is issued.

  5. The information has been prepared without taking into account your objectives, financial situation or needs. You should read the PDS and consider the appropriateness of International Payments in relation to your individual requirements. Terms, conditions, fees and charges apply. For further information, please refer to the relevant PDS: Telegraphic Transfers. AccessLine™ is not available to individual consumers. To enrol in this service, your business will be required to complete an application, which is subject to review and approval by American Express. For a copy of the application, including terms and conditions, call 1300 855 749. Users need to have an American Express Corporate Card or American Express Business Card, an FX International Payments account and be registered to use AccessLine™. International Payments are arranged through American Express International Inc. (ABN 15 000 618 208 AFSL no. 237996). Incorporated with Limited Liability in Delaware, USA.

  6. The Australian Premium Subscription benefit offer ('Benefit') is available to eligible American Express Australia Card Members ('Card Members').
  Once you have requested to enrol in The Australian Premium Subscription, American Express Australia Limited ('American Express') will determine your eligibility to enrol in the Benefit via the enrolment process. If eligible then American Express will share your enrolment information with Nationwide News Pty Ltd ('News Corp'). News Corp may use this enrolment information in accordance with its privacy policy available here.

  The Benefit will provide eligible Card Members with; (a) a 12 month digital access to The Australian which provides premium content at theaustralian.com.au and via The Australian app; (b) eligibility to activate a digital subscription to the Wall Street Journal which will run concurrently with the subscription in (a) above; (c) a bespoke The Australian Premium e-newsletter sent every week and exclusive to subscribers of The Australian Premium subscription; and (d) access to The Australian Insiders' Briefing virtual event held twice per calendar year. Eligible Card Members must activate the Benefit described in (a) above in order to be provided with the opportunity to activate or enjoy the other parts of the Benefit.

  Card Members are not required to pay for the Benefit. Subscriptions provided under the Benefit will be automatically renewed every 12 months provided American Express and News Corp continue their arrangements in relation to this Benefit. Under the Benefit, you are limited to one digital subscription per eligible Card Member; not to be used in conjunction with any other offer; subscription is for digital content only; physical newspapers are not included. In addition to these terms and conditions, your use of the Benefit is subject to News Corp's full digital subscription terms and conditions available here. For avoidance of doubt, terms and conditions contained here will take precedent in the event of inconsistency. Eligible Card Members will be required to agree to News Corp's terms and conditions and privacy policy to activate the Benefit.

  News Corp may cancel any digital subscription provided under the Benefit at any time if the Card Member subscriber is in breach of these terms and conditions or the News Corp terms and conditions for any part of the Benefit, if notified by American Express that a Card Member is no longer eligible for this subscription or if American Express and News Corp cease to have an agreement relating to the continued provision of the Benefit. The value of the Benefit is not redeemable for cash or any other payment form. American Express may end this Benefit at any time.

  7. Accor Plus Complimentary Membership. An annual Accor Plus membership is valued at AU$399, found at accorplus.com/au/benefits as at 1 August 2022. Enrolment is required to receive a complimentary Accor Plus membership. An Accor Plus membership is available only to the Primary Platinum Card Member. Membership privileges will only be granted on presentation of a valid membership card and a member must identify themselves as an Accor Plus member at time of booking. Accommodation bookings must be made through all.accor.com or accorplus.com. American Express reserves the right to instruct Accor Plus to cancel your membership if you cease to be a Platinum Card Member or your account is not in good standing. Complimentary membership is a continuing benefit of your American Express Platinum Card, however American Express reserves the right to discontinue the benefit, upon providing you with reasonable notice. Once enrolled, enrolment continues for at least 12 months. If you become ineligible for this benefit or if this benefit ends, the Accor Plus membership standard eligibility criteria will apply to you. Visit accorplus.com for full membership conditions, benefits and participating properties. Room allotment for Stay Plus complimentary night stays are limited each night per participating property and must be made by visiting and booking through all.accor.com or accorplus.com. Membership privileges are subject to exceptions listed at accorplus.com/au/benefits-exceptions.

  8. The American Express Global Lounge Collection: The Centurion Lounge. Platinum Card Members have unlimited complimentary access to all locations of The Centurion Lounge. Card Members may bring up to two (2) companions into The Centurion Lounge. Children under 2 years of age can access the lounge free of charge, provided an accompanying parent or guardian is able to produce a "lap infant" boarding pass or proof of age. Guest access policies may vary internationally by location and are subject to change. To access The Centurion Lounge, the Card Member must present The Centurion Lounge agent with the following upon each visit: their valid Card, a boarding pass showing a confirmed reservation for same-day travel on any carrier and a government-issued I.D. Failure to present this documentation may result in access being denied. The Centurion Lounge is a day of departure lounge. Platinum Card Members who have landed will not be able to access the lounge. Card Members with layovers or connecting flights who produce proof can access the lounge. Platinum Card Members cannot access The Centurion Lounge more than 3 hours before the scheduled departure time on their same day, confirmed boarding pass. This does not apply to Card Members with a connecting flight. Card Members will not be compensated for changes in locations, rates or policies. A Card Member must be at least 18 years of age to enter without a parent or legal guardian. For locations with a self-service bar, the Card Member must be of legal drinking age in the location's jurisdiction to enter without a parent or legal guardian. Must be of legal drinking age to consume alcoholic beverages. Please drink responsibly. American Express reserves the right to remove any person from the Lounge for inappropriate behaviour or failure to adhere to rules, including, but not limited to, conduct that is disruptive, abusive or violent. Soliciting other Card Members for access into our lounge is not permissible. Access is subject to space availability. Hours may vary by location and are subject to change. Amenities vary among The Centurion Lounge locations and are subject to change. In addition to the complimentary services and amenities in the Lounge, certain services, products or amenities may be offered for sale. You are responsible for any purchases and/or servicing charges you authorise our Member Services Professionals to perform on your behalf. Some American Express Cards are not eligible for all services provided by Member Services Desk. American Express will not be liable for any articles lost or stolen or damages suffered by the purchaser or visitor inside The Centurion Lounge. If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with lounge access in any way or that you intend to do so, we may remove access to The Centurion Lounge from the Account. Use of The Centurion Lounge is subject to all rules and conditions set by American Express. American Express reserves the right to revise the rules at any time without notice.

  International American Express Lounges. Platinum Card Members have unlimited complimentary access to American Express Lounge locations. Guest access policies vary by location and are subject to change. To access American Express Lounges, the Platinum Card Member must present the agent with the following upon each visit: his or her valid Card and upon request, same-day airline ticket on any carrier and a government-issued I.D. Failure to present this documentation may result in access being denied. Platinum Card Members will not be compensated for changes in locations, rates or policies. American Express reserves the right to remove any person from a lounge for inappropriate behaviour or failure to adhere to lounge rules, including, but not limited to, conduct that is disruptive, abusive or violent. Access is subject to space availability. Amenities, services and hours of operation may vary among locations and are subject to change. Platinum Card Member must be at least 18 years of age to enter without a parent or guardian. Platinum Card Member must be 21 years of age to enter a lounge with a self-service bar, unless you are accompanied by a parent or legal guardian. American Express will not be liable for any articles lost or stolen or damages suffered by the purchaser or visitor inside American Express Lounges. Use of American Express Lounges is subject to all rules and conditions set by American Express. American Express reserves the right to revise the rules at any time without notice.