Australia's 6 top corporate business cards compared by fees and features

Key takeaways:

• A corporate card is a business debit or credit card tied to your company rather than personal finances, allowing employees to make business purchases with built-in controls and tracking.

• When comparing corporate cards, focus on multi-currency access, annual fees, expense management tools, spending controls, and whether the card links to a business account.

• Airwallex Corporate Cards offer multi-currency capabilities in 60+ countries, no foreign transaction fees, built-in expense management, and flexible spending controls-making them a strong choice for Australian businesses managing global operations.

Managing business expenses across teams, suppliers, and countries can quickly become complex. As your business grows, reimbursing employees and tracking expenditures manually becomes unsustainable. This is where the right corporate card makes all the difference.

With 56% of businesses using cards for financing¹, choosing the right corporate card matters. Cards can include rewards programmes, offer granular spending controls, and come with expense management features-but these capabilities vary significantly from provider to provider.

This guide compares six popular corporate card options in Australia, helping you evaluate key features, costs, and capabilities so you can choose the best fit for your business.

What is a corporate card?

A corporate card is a type of business debit or credit card that typically has higher eligibility requirements than personal cards. The card is tied to the business and its financials, so cardholders can spend on behalf of the business without putting their own money on the line.

Aside from the company owning the card account and a few business-specific features, it operates a lot like a typical card. You can even choose a corporate debit or credit card, each with its own perks: 

• Credit cards are convenient, have reward programmes, and can extend your line of credit.

• Debit cards simplify expense management and help you better control spending without debt or interest.

Corporate card pros and cons

How do corporate cards work?

Corporate cards give businesses a simple and controlled way to manage employee purchases and company spending. Here's a simplified breakdown of how they typically work:

• Issuance: The company applies for corporate cards from a financial institution. Once approved, the company can issue these cards to employees who need them for business-related expenses.

• Spending: Employees use corporate cards to make purchases for business purposes, such as travel, meals, or office supplies. The company can preset spending limits and allow purchase categories to control expenses.

• Tracking: Each transaction made with a corporate card is recorded, making it easy for the company to track spending in real time. This helps in monitoring expenses and ensuring compliance with company policies.

• Reconciliation: At the end of the billing cycle, the company receives a consolidated statement that includes all employee-made transactions. This statement can be reconciled with the company's accounting system to ensure accuracy.

• Payment: The company pays the card issuer for the total amount spent by employees during the billing cycle. This is usually done through a single payment, simplifying the process compared to reimbursing individual employees.

• Expense reporting: Employees may still need to submit expense reports, but the process is streamlined because the transactions are already recorded. Modern platforms like Airwallex reduce administrative burden with expense management features.

• Rewards and benefits: Some corporate cards offer rewards, cashback, or other benefits based on spending, which can provide additional value to the company.

Corporate cards can help businesses manage expenses more effectively, improve cash flow, and provide a convenient way for employees to make the necessary purchases. This is critical as organisations’ recurring monthly expenses increase. 

6 top corporate cards in Australia

To save you time, we've compiled a list of our top corporate card picks and their key details below, including:​

• Airwallex Corporate Card is a multi-currency debit card that pays from existing currency balances to reduce FX fees.

• Revolut Corporate Card is a multi-currency debit card that draws from existing balances or exchanges at interbank rate when payments are made.  

• CommBank Corporate Low Rate Credit Card is a low-rate card that offers a lenient interest-free period

• NAB Rewards Business Signature Card is a rewards credit card which earns NAB Reward Points, redeemable on travel, gift cards, and other expenses.

• American Express Business Explorer Card is another rewards-based credit card with a relatively high fee, which also offers cash flow management tools.

• Westpac Altitude Business Credit Card is a tiered credit card program, with various rewards and limits based on whether the card holder is of Platinum or Gold status.

Common fees to expect on corporate spending cards

Understanding the fee structure of corporate credit cards helps you accurately compare total costs. Not all cards include all fees, and many premium cards offer fee waivers for qualifying spending or higher annual packages. Here are common fees to look out for:

• Account maintenance charges: These costs can differ, but providers can charge between $50 and $400+ annually, with the amount varying based on the card tier and included features.

• Extra cardholder charges: When issuing cards to additional team members, expect to pay somewhere in the range of $15 to $75 per card.

• Credit interest charges: Credit cards typically carry interest rates between 15% and 20% per annum on unpaid balances. Debit cards don't charge interest since you're spending your own funds.

• Cash withdrawal fees: If card withdrawal fees apply, you can be charged a flat fee of around $2.50 to $5 or a percentage of the withdrawal amount  of 2–3%.

• Missed payment penalties: Failing to pay your credit card bill on time can result in a charge of $20 to $35.

• Cross-border transaction charges: When spending in foreign currencies, many cards apply a fee ranging from 2%–3.5% of the transaction amount, though some providers waive this entirely.

• Currency exchange margins: Beyond transaction fees, providers may add a markup to the exchange rate itself, ranging from 0.5% to 3%.

• Administrative charges: Some providers charge for issuing replacement cards or providing paper statements and transaction copies.

Airwallex Corporate Cards

Airwallex Corporate Cards are multi-currency debit cards designed for businesses operating globally. With access to local bank details in 21 countries and the ability to hold balances in multiple currencies, Airwallex helps you avoid costly foreign transaction fees and currency conversion charges.

Our Business Accounts come with Corporate Cards, allowing employees to cover international company expenses and travel costs without hassle. With flexible card options and built-in controls, you can manage spending effectively and keep your business finances on track.

Key features include:

• No foreign transaction fees: Pay in the same currency you hold, eliminating unnecessary conversion costs.

• Multi-currency support: Hold and transact in 70+ currencies with local bank details in 21 countries.

• Advanced spending controls: Set custom limits, restrict merchant categories, and freeze or cancel cards instantly.

• Real-time expense tracking: See every transaction as it happens with built-in expense management tools.

• Unlimited virtual cards: Issue as many virtual cards as you need for different teams, projects, or subscriptions.

• Physical cards included: 10 free physical cards on Explore plan, 50 on Grow plan, and unlimited on Accelerate plan (additional cards $15 each).

• Flexible FX rates: 0.5% margin on major currencies, 1% on others-significantly lower than traditional banks.

• Integration with accounting software: Seamlessly sync with Xero, QuickBooks, and NetSuite for automated reconciliation.

Employee cards help businesses track their team's cross-border payments in real time, allowing you to monitor your cash position. Combined with Expense Management and Billing features, Airwallex business debit cards are ideal for businesses looking to grow internationally-and just as powerful for small Australian businesses wanting to control their budgets.

Watch: what are virtual cards and how do they work?

Revolut Corporate Card

Revolut offers corporate debit cards with multi-currency capabilities across 130+ currencies. The cards draw from existing currency balances or automatically exchange at the interbank rate as you pay, though this is subject to plan allowances and only available during market hours.

Each team member can hold up to 3 physical cards and up to 200 virtual cards. Revolut also offers premium stainless-steel Metal cards on their Grow, Scale, and Enterprise plans, which come at an additional cost beyond plan allowances. Card controls include spending limits, merchant category restrictions, and country-specific restrictions.²

Basic expense management features are available, including receipt capture and auto-matching to transactions, though more advanced expense management capabilities may be limited compared to dedicated platforms. Businesses should carefully review plan limitations around currency exchanges and transaction fees, as costs can add up quickly for high-volume users.

CommBank Corporate Card

CommBank offers three corporate card options: the Corporate Low Rate Card (14.55% p.a. with a $300 establishment fee), the Corporate Interest-Free Days Card (up to 55 interest-free days, 17.57% p.a., no establishment fee), and the Corporate Charge Card (monthly debit from nominated account, no interest charges).³

Annual fees range from $24–$40 per card depending on volume, with unlimited cardholders allowed. All cards include customisable transaction limits and complimentary transit accident and unauthorised transaction insurance.³

However, the cards operate in single currency (AUD) only, making international transactions more costly. While CommBank supports automated bank feeds to accounting software including Xero and MYOB, expense management features are basic compared to modern fintech platforms offering real-time automation and instant virtual cards.

NAB Business Credit Cards

NAB offers three corporate and charge card options designed for businesses with significant monthly expenses. The NAB Business Card charges $9 per month per card with a 15.50% p.a. purchase interest rate and $5,000 minimum credit limit. The NAB Purchasing and Corporate Card is designed for larger organisations and features a 12.65% p.a. cash advance rate with customised credit card solutions for cashflow management.⁴

NAB also offers the NAB Virtual Corporate Card, a plastic-free digital card issued in minutes that provides fast and secure access to funds for business expenses. This virtual option enables businesses to give employees access to funds quickly without waiting for physical cards.⁴

All NAB corporate cards include complimentary transit accident insurance and unauthorised transaction insurance. The cards can be managed through NAB's FlexiPurchase expense management software for improved control, transparency and reporting. However, the cards operate in single currency (AUD) only, and international transaction fees apply to overseas purchases. While the cards integrate with bank feeds for accounting software like MYOB and Xero, the expense management capabilities are more basic compared to modern fintech platforms.⁴

American Express Business Cards

American Express offers a range of business cards, with the Business Explorer Credit Card being their most accessible option at $149 annually. This credit card earns 2 Membership Rewards points per $1 spent (1 point on government spend) and includes two Centurion Lounge passes per year at Sydney and Melbourne airports. The card offers up to 55 interest-free days with a 23.99% p.a. interest rate.⁶

American Express also offers several charge card options (requiring full monthly payment): the Platinum Business Card ($1,750 annually), Qantas Business Rewards Card ($450 annually), Business Gold Plus Card ($395 annually), and Velocity Business Card ($249 annually). These charge cards offer flexible spending power and various travel and rewards benefits.⁶

However, American Express cards operate in single currency (AUD) only, and international transaction fees apply. The cards support direct bank feed integrations with Xero, MYOB, Microsoft, Quicken and Excel. Additionally, American Express acceptance can be limited at smaller Australian merchants, and the cards lack modern expense management features such as automated receipt matching, instant virtual card issuance, and real-time spend controls found in fintech solutions.⁶

Westpac Business Credit Cards

Westpac offers four Business Credit Card options. The Altitude Business Platinum Visa ($200 annually) and Altitude Business Gold Visa ($150 annually) are their rewards cards. The Platinum card earns 1 Altitude Point per $1 on domestic purchases, 2 Altitude Points per $1 on overseas merchant purchases, and 0.5 points on government payments, with uncapped points earning. The Gold card earns 1 Altitude Point per $1 on all eligible spend and 0.5 points on government payments, but has a 20,000 points cap per statement cycle.⁹

For businesses focused on Qantas rewards, the BusinessChoice Rewards Platinum Mastercard ($150 annually per card) earns 0.75 Qantas Points per $1.50 spent on eligible business purchases, with a monthly cap of 100,000 Qantas Points per facility. The joining fee ($89.50) is waived. For cost-conscious businesses, the BusinessChoice Everyday Mastercard ($75 annually per card) offers a lower 14.25% p.a. purchase rate with no rewards program.⁹

All cards offer up to 55 days interest-free on purchases. Current promotional offers include $0 annual card fee for the first year on Altitude cards (saving $200 for Platinum, $150 for Gold). The cards include complimentary insurance and bank feed integration with Xero, MYOB and Reckon for simplified accounting. However, the cards operate in single currency (AUD) only, making them less suitable for businesses with international operations. The expense management capabilities are basic compared to modern fintech platforms that offer real-time spend controls, instant virtual card issuance, and automated expense categorisation.

How to compare and choose the top corporate cards in Australia

Business needs vary by size, spending, and accounting processes, so take stock of your goals and needs as you compare card providers. While you shop for corporate cards, think about:

• Multi-currency support: Look for cards that support multiple currencies so you can transact in different currencies without incurring foreign exchange fees or international transaction fees.

• Foreign exchange rates: Prioritise cards that offer low foreign exchange rates. This can result in significant savings, especially if you frequently transfer funds internationally. 

• Cashback and rewards: Look for additional benefits like cashback, air miles, or rewards points that can offset some of your spend.

• Spending habits: Determine who needs access to cards, what you’re spending on, and if you need multi-currency features for international transactions. 

• Spending controls: Some cards allow you to see and manage employee spending, and can even integrate with accounting software.

• Customer support: Evaluate the quality and availability of customer support for each card. Quality support can be crucial for resolving time-sensitive issues.

• Security features: Consider the offered security features like fraud protection, chip-and-PIN technology, and virtual card capabilities to protect your business.

How to apply for a corporate card

After you select your preferred card, you can apply online. The process can vary between providers, but it'll generally follow these steps:

1. Research and compare options to determine what features are important for your business such as multi-currency support, or low foreign transaction fees. 

2. Confirm eligibility with the card provider based on business size, spending, and location. Some cards may be restricted to certain types of businesses.

3. Gather business documents, including your business’ legal status, financial statements, and supplementary documents. 

4. Apply online or in-person by providing all the required information and submitting all the necessary documentation. 

Approval can take one to five business days, though most providers will have a card sent to you within that time frame. 

Corporate card alternatives for business finances

With relatively high eligibility requirements, corporate cards aren’t a fit for every business. Luckily, there are other corporate card alternatives such as: 

• Debit cards are ideal for businesses who want better oversight of their spending and want to minimise the risk of overspend

• Business credit cards for mid- and small-sized businesses have fewer credit and income requirements to get started.

• Prepaid cards are used to purchase items using a preallocated balance like debit cards, but are not associated with your bank account.

• Business bank accounts can make managing finances easier with many options also offering cards as part of their offering.

• Business loans are available for one-time spending needs and can offer larger balances without the rewards. 

Most businesses use a mix of solutions to finance and manage their operations. 

Streamline your international business transactions

Corporate cards are tools to carry out business and work-related expenses without using your or your employees’ personal line of credit. They can also help you gain visibility of your business spending and allow you to put in customised card controls. 

This can sometimes come at a cost, with expensive credit card interest rates, FX charges, and foreign transaction fees. Consider alternatives like Airwallex’s Virtual Cards for flexible international spending without the hidden fees. 

These are included with your Airwallex Business Account, which also gives you access to Global Accounts. Our Global Accounts are local currency accounts that provide local bank details so you can collect and hold payments in multiple currencies. This means you can eliminate FX fees if you spend from your existing balances. 

Airwallex also has integrations with accounting software and offers Expense Management, and Billing features so that​​ you never have to manage components of your financial operations on disparate systems.

Corporate cards: Frequently asked questions

What's the difference between corporate cards and business debit cards?

The main distinction lies in how they access funds and their eligibility criteria. Corporate cards typically extend a line of credit with attractive rewards programs, though they carry interest charges and require stronger financial credentials. Debit cards, on the other hand, connect straight to your business bank account with simpler approval processes and lower fees, which makes them particularly appealing for smaller companies prioritising budget discipline.

How do corporate cards support wholesale and trade payments?

These cards streamline bulk purchasing by allowing businesses to manage payments across multiple vendors efficiently. They support transactions in various currencies, let you establish spending parameters, and generate comprehensive reports that help with stock management and financial reconciliation. Virtual card functionality is especially useful for processing supplier payments quickly and securely.

What are alternatives to company cards for employee expenses?

Beyond traditional corporate cards, businesses can choose from several solutions including prepaid expense cards, virtual card systems, reimbursement management platforms, procurement cards, and digital petty cash tools. These alternatives all provide spending oversight and live transaction monitoring without requiring a corporate credit facility.

How can businesses track corporate card spending in real time?

Modern card platforms connect directly with your accounting systems to show transactions as they occur. They send immediate spending alerts, allow employees to capture receipts digitally, and create a continuous flow of financial data that gives management instant visibility into company expenditure.

Which corporate card providers offer customisable controls for team-based spending?

Both Airwallex and Revolut stand out for their granular control features, including per-card spending limits, transaction-level monitoring, and the ability to restrict specific merchant types. Traditional banks such as CommBank, NAB, American Express, and Westpac offer more fundamental controls like overall spending limits and basic transaction visibility through their banking platforms.

Sources

1. https://www.fedsmallbusiness.org/reports/survey/2024/2024-report-on-employer-firms

2. https://www.revolut.com/en-AU/business/cards/

3. https://www.commbank.com.au/business/business-credit-cards/corporate-low-rate-card.html 

4. https://www.nab.com.au/business/business-credit-cards/nab-purchasing-and-corporate-cards

5. https://www.nab.com.au/important-information/business/interest-rates-fees-charges

6. https://www.americanexpress.com/en-au/credit-cards/business-explorer-credit-card/

7. https://www.americanexpress.com/content/dam/amex/au/staticassets/small-business/pdf/services/au-feesheet-sbs-credit.pdf

8. https://www.americanexpress.com/au/credit-cards/about-credit-cards/fees/ 

9. https://www.westpac.com.au/business-banking/credit-cards/

Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]].

This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) read the Product Disclosure Statement (PDS) for the Direct Services available here.