Choosing a Business Credit Card

Rate

If you pay off your balance every month, other card considerations—such as rewards and fees—may be more important than securing the lowest rate. But for those who maintain a balance, a low rate can lead to cost savings.

Fees

Look out for annual, over-the-limit, late payment and additional card fees. These fees vary from card to card and may be negotiable. It can pay to select a card with as few fees as possible or ask if the advertised fees can be lowered.

Reward

Cards may offer cash back or points toward airline or other travel, merchandise and more. Utilize your rewards to get discounts and even pay for some business expenses. Consider the type of rewards offered, as well. A card that gives you a choice of rewards may be a better bet for your business. Both of Navy Federal’s GO BIZ® Rewards credit card options offer 1 point per dollar spent, with no cap on earnings.^{Footnote 1}

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Fraud Protection

Take into consideration cards that offer Zero Liability protection, which means you aren’t held liable for unauthorized purchases. All Navy Federal cards offer this protection for transactions made in-store, over the telephone or online. Confirm that the card you're looking at offers this, too.

Digital Access

Will you be able to cancel a card, pay the bill or request new cards online? Navy Federal offers many mobile and online tools to make managing your accounts quick and easy, saving you time and potential headaches. You can easily track your account, make payments and more.

Travel Features

If card users often travel abroad, pay close attention to the foreign transaction fee. Card issuers generally charge up to 3 percent, so choosing a card without foreign transaction fees, like Navy Federal’s, can make a big difference.^{Footnote 2} For those who travel closer to home, consider a card that offers features such as auto rental insurance coverage, concierge services, flight insurance and baggage delay coverage.