Business Credit Card or Personal: Which is right for your small business?

Let’s explore what makes them different and how to choose the right option for your needs.

What are the key differences between Business Cards and Personal Cards?

smiling couple enjoying lunch at a restaurant

American Express® Personal Cards

  • Tend to work best for personal use only, or for businesses that are side hustles, hobbies, or fledgling sole proprietorships      
  • Do not need an Australian Business Number to qualify  
  • Card account holder is personally liable for debts and defaults
  • Can earn rewards in personal categories such as grocery and department stores1 if enrolled
      
woman sitting at front desk looking down at a tablet, a wall of nail polish is behind her

American Express® Business Cards

  • Tend to work best for established small-to-midsized businesses (for large businesses or corporations, consider a Corporate Card)      
  • Need an Australian Business Number (ABN) to qualify       
  • The Business entity and Card Member are liable for debts and defaults
  • Can earn rewards in business categories such as travel or government1 if enrolled
  • May have more spending power to reflect how businesses spend       
  • More likely to have business-specific features such as expense reporting or integration with business financial software

The bottom line

If you’re only planning to make personal purchases or do not have an ABN, you might consider a Personal Card. For established small-to-midsized businesses, a Business Card can help manage cash flow and expenses. If you want to keep your business and personal finances separate while maximising your potential to earn rewards, you might consider a combination of American Express Business and Personal Cards. 

What are you looking for in a Business or Personal Card? 

Want to earn rewards for personal shopping? Optimise business cash flow? Work or play overseas? Whatever you want in a Card, American Express has options that can help meet your needs.

Rewards Cards

Almost all American Express Cards offer rewards.1 If you’re looking for rewards for business spending or want to use rewards to help offset business expenses, consider a Business Card. If you’re making personal purchases, a Personal Card can help you earn rewards in some of your favourite spending categories.

Personal Card Recommendation:
The American Express® Platinum Edge
Credit Card

 

Reward your personal Card spending with 3 points per $1 spent at major supermarkets and petrol stations,2 plus enjoy complimentary domestic and international Travel Insurance.3 Exclusions, terms and conditions apply (including age limits). 

 

 

 

ANNUAL FEE:
$0 for first year, $195 thereafter4

Business Card Recommendation:
American Express® Platinum Business
Card

 

Earn 250,000 Membership Rewards® Bonus Points when you apply, are approved and spend $12,000 on eligible purchases on your new American Express® Platinum Business Card within 3 months of your approval date and apply by 25 March 2025. T&Cs apply. Available for new American Express Card Members only21.

 

ANNUAL FEE:
$875 in the first year (normally $1,750 p.a)21

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