When you’re running a business—whether it’s a small side hustle, startup, or growing enterprise—keeping your finances organised is key. One often-overlooked tool that can streamline your operations and improve financial flexibility is a business credit card.
Unlike personal credit cards, business credit cards are designed to help manage company expenses, build business credit, and offer perks tailored to entrepreneurs and corporate users.
Here’s what you need to know before getting one in Malaysia or Singapore.
What Is a Business Credit Card?
A business credit card is a credit line issued in your company’s name, not yours personally (although many banks require a personal guarantee, especially for small businesses). It functions similarly to a personal credit card but comes with features suited for business use, such as:
- Higher credit limits
- Employee card options
- Expense tracking and statements
- Business-specific rewards and cashback
- Accounting software integration
Why Consider a Business Credit Card?
1. Separate Business and Personal Finances
Using a business credit card helps keep your business spending distinct from your personal expenses. This is crucial for accounting, tax filing, and maintaining financial transparency—especially if you’re registered as a Sdn. Bhd. (Malaysia) or Pte. Ltd. (Singapore).
2. Improve Cash Flow
Business credit cards give you flexibility with short-term financing. You can manage day-to-day purchases—like advertising, supplies, and subscriptions—without dipping into your cash reserves.
3. Build Business Credit
Establishing good credit in your business name can open doors to better financing, such as business loans or lines of credit in the future.
4. Track and Manage Expenses
Most cards offer digital tools or integrations with accounting software like Xero, QuickBooks, or Wave. This helps you analyse spending patterns, set budgets, and monitor employee usage.
5. Earn Rewards and Cashback
Business cards often come with perks such as:
- Cashback on office supplies or online ads
- Travel points or air miles
- Discounts on business tools (e.g., Microsoft 365, Zoom, Google Workspace)
How to Choose the Right Business Credit Card
✅ Interest Rates & Fees
- Look at the annual fee, interest rate (APR), late payment penalties, and foreign transaction charges.
- In Malaysia, cards typically range from RM0 to RM800 in annual fees.
- In Singapore, expect S$100–S$600, with premium cards charging more.
✅ Rewards and Benefits
Choose a card that aligns with your biggest expense categories:
- Travel-heavy businesses → go for air miles and lounge access.
- Online or retail businesses → prioritise cashback on ads, logistics, or e-commerce spend.
✅ Spending Limits and Controls
Make sure the card lets you set spending limits for employees, receive real-time alerts, and generate detailed statements.
✅ Eligibility
Most banks require:
- A registered business (Sole Prop/Partnership/Company)
- Proof of income or business revenue
- Business registration documents (SSM BizProfile or ACRA BizFile)
- For startups, personal guarantees may be necessary
Popular Business Credit Cards in Malaysia & Singapore
Malaysia:
- Maybank Visa Business Card – cashback, low annual fees
- HSBC Business Credit Card – good for SMEs, comes with free employee cards
- CIMB Platinum Business Card – travel and utility benefits
Singapore:
- DBS Visa Platinum Business Card – earns DBS points, good for travel
- OCBC Business Titanium Card – cashback on selected business categories
- UOB Platinum Business Card – integration with accounting software
Tips for Using Business Credit Cards Wisely
- Pay off your balance in full each month to avoid high interest.
- Set spending policies if employees have access.
- Monitor charges regularly to catch fraud or misuse.
- Use rewards strategically—e.g., redeem miles for business travel.
- Review your credit usage periodically and renegotiate limits or terms if needed.
A business credit card isn’t just about convenience—it’s a smart tool for managing company finances, building credit, and earning perks. Whether you’re just getting started or scaling up, the right card can help you spend more strategically and operate more efficiently.
Make sure to compare options and use it responsibly. When managed well, your business credit card can be a financial asset—not a liability.
