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Best Credit Cards for Nonprofits

June 2024

The ideal credit card for nonprofits is one with a low annual fee, a low annual percentage rate (APR), and generous rewards in the expense categories the organization spends the most money.
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Credit cards are a valuable tool for nonprofits that need to manage expenses, make purchases, and earn rewards. However, not all credit cards are created equal, and it's important to choose the right one for your organization's needs. Here, we'll offer tips for selecting the best one, explore the benefits of credit cards for nonprofits and provide guidance for using credit cards responsibly.
Let's move on, here are our top pics of best credit cards for nonprofits:
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Choosing the Right Credit Card for Your Nonprofit

As a nonprofit organization, selecting the right business credit card can be crucial to managing expenses and cash flow. When choosing a credit card, nonprofits should consider several factors to ensure that they are getting the most value for their spending. Here are some key factors to keep in mind:

Purchase Rewards

Many credit cards offer rewards programs that can earn nonprofits cash back, points, or miles for purchases made with the card. Nonprofits should consider which rewards program aligns with their spending patterns and mission, and choose a card that offers rewards that can be redeemed for valuable benefits such as travel or cash back.

Sign-Up Bonus

Some credit cards offer a sign-up bonus, which can be a valuable incentive for nonprofits to apply for a new credit card. Nonprofits should look for cards that offer a generous sign-up bonus that can be used to support their mission or offset expenses.

Annual Fee

Credit cards can come with annual fees that can eat into a nonprofit's budget. Nonprofits should consider whether the rewards and benefits offered by the card are worth the cost of the annual fee. Some cards waive the annual fee for the first year, which can be a good way to try out a new card without committing to a long-term expense.

Interest Rates

Nonprofits should choose a credit card with a low interest rate to avoid accruing debt and paying high interest charges. Some credit cards offer zero-percent introductory rates, which can be a good option for nonprofits that need to make large purchases or pay off existing debt.

Foreign Transaction Fees

If your nonprofit does business internationally, it's important to choose a credit card that doesn't charge foreign transaction fees. These fees can add up quickly and eat into your budget.

Employee Cards

Many credit cards allow businesses to issue employee cards, which can be a convenient way to manage expenses and track spending. Nonprofits should consider whether employee cards are necessary for their organization, and choose a card that offers customizable spending limits and other controls to ensure responsible use.

Fraud Protection

Nonprofits should choose a credit card with strong fraud protection to prevent unauthorized transactions and protect their financial security. Look for a card that offers 24/7 monitoring, zero-liability protection, and other security features to minimize the risk of fraud.

Managing Your Nonprofit's Credit Card

Once you've chosen a credit card, it's important to use it responsibly to avoid debt and other financial problems. Nonprofits should establish clear policies and procedures for credit card use, including guidelines for who can use the card, what expenses are allowed, and how transactions should be recorded and monitored.
Nonprofits should also ensure that they have sufficient funds to pay off credit card balances each month to avoid interest charges and late fees. They should monitor their credit card transactions regularly to detect any unauthorized charges or fraudulent activity. Finally, nonprofits should keep track of their credit card expenses and report them accurately to ensure compliance with accounting and tax regulations.

Using Credit Card Rewards to Benefit Your Nonprofit

Credit card rewards can be a powerful tool for nonprofits that want to raise funds or support their mission. Nonprofits can use credit card rewards to purchase goods or services that they need, or they can redeem them for cash back, travel, or merchandise that can be auctioned or raffled off to supporters.
To maximize credit card rewards, nonprofits should choose a card that offers rewards that align with their mission and spending patterns. They should also monitor their rewards balances and redemption options to ensure that they are getting the most value from their rewards program.


Do nonprofits get a break on credit card fees?

Some credit card issuers may offer special rates or discounts for nonprofits, but this varies by issuer and card. Nonprofits may also be able to negotiate lower fees with their credit card processor or merchant services provider. Nonprofits should research their options and compare fees and rates to ensure that they are getting the best value for their money.

What is the best way for a nonprofit to accept credit cards?

The best way for a nonprofit to accept credit cards depends on their specific needs and budget. Nonprofits can choose from several options, including traditional merchant accounts, payment gateways, and third-party payment processors. Traditional merchant accounts can be more expensive and require more paperwork, but may offer more flexibility and control. Payment gateways and third-party payment processors can be more affordable and easier to set up, but may offer fewer features and control. Nonprofits should compare their options and choose a payment solution that fits their budget and needs.

How do nonprofits get a line of credit?

Nonprofits can apply for a line of credit from a bank or other financial institution. To qualify for a line of credit, nonprofits will typically need to provide financial statements, tax returns, and other documentation to demonstrate their creditworthiness. Nonprofits may also need to have a good credit score and a solid financial history. Nonprofits should research their options and compare rates and terms to ensure that they are getting the best deal. It's important for nonprofits to use a line of credit responsibly and only borrow what they can afford to pay back.

Bottom line

Opt for a nonprofit credit card that rewards you for every purchase, and select one with specific spending categories if certain expenses are a major part of your budget. Alternatively, if you prefer not to monitor expense categories, a fixed-rate rewards card with no purchase limitations may be a better fit. To explore more credit card options, refer to our list of best credit cards for startups and small businesses

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