Non-profit organizations face unique challenges when it comes to managing their finances. With limited budgets and the need to direct as much money as possible towards their missions, they require credit cards tailored to their specific needs. In this guide, we'll explore the best credit cards for non-profits and reveal how these financial products can help your organization thrive.
Best Credit Cards For Non Profits Table of Contents
Why Non-Profits Need Specialized Credit Cards
Non-profit organizations differ from for-profit businesses in several ways, and these differences can impact their financial needs. Some key reasons for non-profits to choose specialized credit cards include:
- Lower fees – Non-profit organizations often operate on tight budgets and minimal income, so credit cards with low fees and interest rates are essential.
- Tailored rewards – Many non-profits would benefit from rewards programs that focus on categories where they spend the most, such as travel or office supplies.
- Financial management tools – To manage budgets effectively and maintain transparency, non-profits need access to user-friendly online tools and detailed account reporting.
- Tax-exempt status – Some credit cards are specifically designed for non-profit organizations with tax-exempt status, which can save significant amounts of money over time.
Best Credit Cards for Non-Profits
1. The Business Platinum Card® from American Express
Suitable for non-profits with significant travel expenses, the Business Platinum Card® from American Express offers:
- 5X Membership Rewards® points on flights booked directly with airlines or through American Express Travel.
- 35% points rebate when booking eligible flights through American Express Travel using Membership Rewards Pay with Points.
- Access to more than 1,200 airport lounges worldwide as part of the Global Lounge Collection®.
- Annual $200 airline fee credit for incidental fees on a chosen airline, such as baggage fees or in-flight purchases.
- No foreign transaction fees─ideal for international non-profits or those with overseas travel requirements.
The card does come with a $595 annual fee, but the extensive travel benefits may offset the cost for some non-profits.
2. Bank of America® Nonprofit Business Mastercard®
Perfect for smaller non-profits, the Bank of America® Nonprofit Business Mastercard® features:
- No annual fee and low-interest rates for qualifying non-profit organizations.
- Introductory 0% APR on purchase and balance transfers for the first 12 billing cycles.
- Online banking tools to help manage cash flow and track expenses, with customizable account alerts and access for multiple users.
- Fraud monitoring and a zero-liability program to protect against unauthorized transactions.
This card lacks rewards, but non-profit organizations on tight budgets may prioritize low costs over rewards.
3. The Blue Business® Plus Credit Card from American Express
For non-profits seeking rewards on everyday expenses, the Blue Business® Plus Credit Card from American Express offers:
- 2X Membership Rewards® points on everyday business purchases, such as office supplies, up to $50,000 per calendar year, and then 1X points after that.
- Introductory 0% APR on purchases for the first 12 months from account opening.
- Expand your buying power by spending above your credit limit, without incurring over-limit fees (terms and conditions apply).
- Free employee cards to consolidate and track expenses, with customizable spending limits for each card.
- No annual fee.
Best Credit Cards For Non Profits Example:
Imagine your non-profit organization has an annual conference coming up, and several employees need to travel to attend. If you have the Business Platinum Card® from American Express, you can book flights with points, earn an airline fee credit, and gain access to airport lounges for your employees. This offers a high level of comfort and convenience while converting a significant business expense into valuable reward points.
Choosing the right credit card for your non-profit organization can seem daunting, but understanding the specific features and benefits of each option will help you make an informed decision. Assess your non-profit's needs and spending habits to determine which card will provide the most value. Don't forget to share this comprehensive guide with others in the non-profit community, and be sure to explore Flik Eco's other personal finance resources.
