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United States Small Business Credit Cards: Growth Opportunities in a Post-COVID World

  • ID: 5515321
  • Report
  • December 2021
  • Region: Global, United States
  • 26 Pages
  • Mercator Advisory Group

FEATURED COMPANIES

  • Alaska Airlines
  • Barclaycard
  • Citi
  • Fiserv
  • Lowes
  • Tribal Credit

The publisher released a report covering the credit cards issued for small businesses titled Small Business Credit Cards: Growth Opportunities in a Post-COVID World. The research explains current markets, reviews programs offered by top issuers, and suggests that issuers look at four current fintech models to revitalize their view of this rich market. With two thirds of the U.S. GDP driven by small businesses, there is a large audience to harvest. Program designs need to do more than just generate reward points; they need to provide the small business owner with tools to reduce costs, understand their spend, and prepare the small business for growth.


The research explains how fintechs are redefining the small business card space and what traditional issuers need to think about over the next three years.


Highlights of the research note include:

  • Small business sector description and characteristics
  • Card-by-card review of top issuer small business credit cards
  • Risks and Opportunities for small business credit cards
  • Fintechs in the small business credit card sector
  • Selected topics form the Mercator Advisory Group Small Business Payments Insights survey
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Alaska Airlines
  • Barclaycard
  • Citi
  • Fiserv
  • Lowes
  • Tribal Credit
  1. Executive Summary
  2. Background
  3. Small Business Credit Cards: More than Just Simple Payments
  4. Growth Barriers
  5. Top-Issuer Small Business Credit Card Programs
  6. Market Observations: Risks, Opportunities, and Recommendations
  7. References

List of Figures & Tables


Figure 1: Small business credit card transactions will exceed $700 billion by 2023.
Figure 2: Most small businesses have more than one card in use.
Figure 3: Small business cards answer many small business needs, but other channels come into play.
Figure 4: Small business cards spawn personal  banking relationships with owners.
Figure 5: The broad definition of small business includes a range of business sizes and types.
Table 1: American Express offers eleven small business cards in three product lines.
Table 2: Bank of America Business Advantage  links small business card benefits with deposit and lending products.
Table 3: Bank of America links their Business Advantage cards to an enterprise program.
Table 4: Barclays offers three small business card products, all linked to travel.
Table 5: Capital One engineers their credit cards  for different credit ranges.
Table 6: Chase offers eight small business cards,  with three variations of their Ink product line  and five co-brands.
Table 7: Citi addresses the small business credit card market with two co-brands.
Table 8: Discover is not accepting new small  business card applications but could be a  competitive player if they choose to issue.
Table 9: U.S. Bank uses a common high APR  range and three variations for their lowest rate.
Table 10: Wells Fargo is the only top issuer to  offer a small business secured card.
Table 11: Small business issuers need to  consider the reward model, fintechs, and  macroeconomic factors to mitigate risk.
Table 12: Small business credit cards represent an important sector in payments.


Note: Product cover images may vary from those shown

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  • American Airlines
  • American Express
  • Alaska Airlines
  • Apple
  • Bank of America
  • Barclaycard
  • Bento
  • Brex
  • Capital One
  • Chase
  • Citi
  • Costco
  • Delta Airlines
  • Discover
  • FIS
  • Fiserv
  • Goldman Sachs
  • Hyatt Hotels
  • Jet Blue
  • Kabbage
  • Lowes
  • Marriott
  • Mastercard
  • Pex
  • Southwest Airlines
  • TSYS
  • Tribal Credit
  • U.S. Bank
  • United Airlines
  • Visa
  • Wells Fargo
  • Wyndham Hotels
Note: Product cover images may vary from those shown