Having the right business credit card serves as a tool to help you keep track of your business purchases, manage your finances, and even fund major purchases. Its rewards can also help offset business travel expenses or add revenue to your bottom line.
Citi only has two business credit card options, both of which are co-branded cards. However, we’ll break down both the Advantage Platinum Select World Mastercard and the Costco Anywhere Visa Business Card.
We will discuss how they work and what they have to offer—so that you’ll have all the information you need to make the best credit card choice for your business.
Citi Business Card
Citi Business Card – the one card for all your business needs. Enjoy greater credit limits which are separate from your personal cards, and earn rewards for your purchases faster.
Plus, you can get access and negotiate online with a wide range of suppliers and arrive at the best price for your corporate purchases.
- Suitable for small and medium enterprises. Get an additional business credit limit that is separate from personal credit cards.
- Earn faster rewards at 2x Citi ThankYou Points for every S$1 spent.
- Complimentary travel and corporate liability waiver insurance.
Both cards have an annual fee of $99 which is waived for the first year. Also, the rates for these cards are quite different.
The personal Platinum Select card has a purchase and balance transfer APR of 15.99% – 24.99% (Variable), based on your creditworthiness. The APR for cash advances is 25.24% (Variable).
There are no foreign transaction fees. However, for the CitiBusiness card, the purchase and balance transfer APR is 15.99% – 24.99% (Variable).
AAdvantage® Platinum Select® World Mastercard®
- 2 AAdvantage miles per dollar spent on:
- 1 mile per dollar spent on other purchases
Additionally, if you spend $4,000 in purchases within the first four months after opening your account, you’ll earn a 70,000 miles welcome bonus. Plus, Citi allows you to get authorized user cards for your employees, which will also earn AAdvantage miles for spending.
You’ll be able to redeem the miles you earn for American Airlines flights and upgrades, hotel stays, rental cars, vacation packages, and other retail products.
Moreover, this Citi business credit card has no foreign transaction fees. The card does require an annual fee of $99; however, Citibank will waive the annual fee for your first year as a cardholder.
All of this being said, although the Citi AAdvantage card has a notable sustained rewards program, the true value of this Citibank business credit card comes from its other travel perks.
To explain, as a cardholder of this American Airlines business credit card, you’ll have access to:
- First checked bag free for you and four companions on domestic American Airlines itineraries
- 25% savings on inflight food, beverages, and WiFi when you use your card
- Preferred boarding on American Airlines flights
- Opportunity to earn an American Airlines companion certificate for main cabin travel after spending $30,000 or more in purchases each card membership year
Finally, on top of these airline benefits, this Citi business credit card also includes additional business perks like online account summaries, a 24/7 personal business assistant for help with travel arrangements, contactless pay, and more.
Therefore, if you travel frequently for your business—and with American Airlines—you’ll certainly be able to make the most of your business’s spending with this Citibank business card.
Costco Anywhere Visa® Business Credit Card
With this Citi business credit card, therefore, you’ll earn ongoing cash back rewards based on where you spend, earning:
- 4% cash back on gas (including gas at Costco) up to $7,000 spent annually (1% thereafter)
- 3% cash back on restaurants and travel
- 2% cash back on Costco and Costco.com purchases
- 1% cashback on all other purchases
This being said, you’ll be able to redeem your cashback as an annual credit card reward certificate once your February billing statement closes. This certificate is redeemable for cash or merchandise at U.S. Costco Warehouses.
Additionally, although there is no annual fee with this Citi business credit card, you do have to be a Costco member to qualify.
Therefore, you’ll want to consider the cost of a Costco membership, at least $60 annually, in the ultimate cost of the Citi Costco Anywhere Visa card.
With this in mind, even though there isn’t currently a welcome bonus offer with this Citibank business card, the card does include damage and theft purchase protection, extended warranty, and has no foreign transaction fees.
Certainly, the Citi Costco card doesn’t offer as many luxury perks as the AAdvantage card; however, as a cashback card, this is a noteworthy option for business owners who spend frequently on gas, restaurants, travel, and of course, Costco purchases.
At the end of the day, considering the two options we’ve discussed, you’ll want to ask yourself: Is it worth getting either of these Citibank business credit cards?
Ultimately, because these Citi business cards are specific to American Airlines and Costco, they’re only going to be useful to your business if you spend frequently with either of those retailers.
On the other hand, if you think that these Citibank business credit card rewards are too narrowly focused for your business, you’ll want to consider your other options.
There are a variety of business credit card options out there from different issuers that allow you to earn broader rewards—whether points, cash back or miles.
This being said, however, only you can decide what’s best for your business. Therefore, as you explore your options, you’ll want to consider what credit card perks, features, and rewards you value most.
This way, you can narrow down your choices and finally choose the card that will best fulfill your business needs.
These are both good travel cards for relatively heavy spenders. If you travel enough to make the annual fee worth it, you can end up earning a lot of miles with the bonus percentage awarded at the end of the year.
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