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Small Business Credit Card Trends 2025

Publisher Packaged Facts
Published Oct 17, 2025
Length 96 Pages
SKU # LA20479020

Description

The Packaged Facts report, Small Business Credit Card Trends, addresses the USmarket for small business credit cards. This report relies on proprietary, trended data toidentify how small business job titles/affiliations, purchasing decisions, and broaderfinancial services influence small business credit card use. It also includes market sizingfor the small business credit card market, by key players.

Table of Contents

96 Pages
CHAPTER 1: EXECUTIVE SUMMARY
REPORT SCOPE
METHODOLOGY
Survey Methodology
EXECUTIVE SUMMARY
Small Business Credit Card Market Size and Opportunity
Small Business Credit Cards as Problem Solvers
Small Business Credit Card Prospects
Small Business Credit Card Users, by Card Network Affiliation
Small Business Banking Relationships
Credit Card Usage: Personal Versus Business Purposes
Small Business Credit Card Issuers and Networks
CHAPTER 2: THE US SMALL BUSINESS UNIVERSE
FAST FACTS
Number and Type of Small Businesses
Types of Small Business Employees
Use and Access to Financing
Table 2-1. Types of Financing Used by Small Businesses for Capital in the Last 12 Months, 2024 (percent)
CHAPTER 3: SMALL BUSINESS CREDIT CARD MARKET SIZE AND OPPORTUNITY
OVERVIEW
SMALL BUSINESS CREDIT CARDS ARE CAPTURING EXPENSE SHARE
Table 3-1. US Small Business Credit Card Payment Value, Expenditures, and Revenue, 2022-2025 ($ billion, $ trillion, and percent)
US SMALL BUSINESS CREDIT CARD MARKET SIZE AND FORECAST
More Than $1 Trillion in Spend
More Than 40% of Total Commercial Card Payment Value
Table 3-2. US Small Business Credit Card Payment Value 2020-2026 ($ billion and percent)
Visa in Pole Position
Table 3-3. US Small Business Credit Card Payment Value by Payment Card Network, 2024 ($ billion and percent)
US SMALL BUSINESS REVENUE MARKET SIZE
Small Businesses Generate 18% of US Business Revenue in 2025
Table 3-4. US Business Revenue Segmentation: Small, Middle Market, and Large Businesses 2022-2025 ($ trillion and percent)
Micro Businesses Contribute Almost 30% of Small Business Revenue
Table 3-5. US Small Business Revenue Segmentation: Business with <$1 Million, $1-$4.9 Million, $5-$9.9 Million, and $10-19.9 Million in Revenue 2022-2025 ($ trillion and percent)
SMALL BUSINESS EXPENDITURE OPPORTUNITY
US B2B Expenditures to Hit $34 Trillion in 2025
Table 3-6. US Business Expenditure Segmentation by Economic Input Category 2021-2025 ($ trillion and percent)
US Small Business Expenditures Near $6 Trillion
Table 3-7. US Business Expenditure Segmentation: Small, Middle Market, and Large Businesses 2022-2025 ($ trillion and percent)
Business Expenditures Among Smaller Businesses Run More than $3.6 Trillion
Table 3-8. US Small Business Expenditure Segmentation: Business with <$1 Million, $1-$4.9 Million, $5-$9.9 Million, and $10-19.9 Million in Revenue 2022-2025 ($ trillion and percent)
Small Business Credit Cards Capture Almost 18% of Expenditures
Strong expenditures inroads that also suggests untapped opportunity
Table 3-9. Share of US Small Business Expenditures Captured by Small Business Credit Cards, 2022-2025 ($ trillion and percent)
Card Industry Participants Can Target Key Spending Categories to Close the Expenditure Gap
Key small business purchasing categories
Table 3-10. Small Business Purchasers by Type of Product/Service Purchased in the Last 12 Months, 2025 (millions and percent)
CHAPTER 4: SMALL BUSINESS CREDIT CARDS AS PROBLEM SOLVERS
OVERVIEW
KEY ISSUES: CASH FLOW AND ACCESS TO CAPITAL
SMALL BUSINESS CREDIT CARDS AS PROBLEM SOLVERS
The Foundation: Working Capital Extension And Access To Revolving Credit
Tapping the float
Underwriting innovation opens access to credit
Expense Management Integration Provides Multiple Benefits
Expense categorization, tracking, and control
Cash-flow tools and advisory
Small Business Credit Card, Embedded Finance Hub, or Beyond?
Seamless integration with banking and business services solves problems and drives engagement
Business Blueprint: Amex builds out the financial services digital ecosystem
But all eyes on fintechs
CHAPTER 5: SMALL BUSINESS CREDIT CARD PROSPECTS
OVERVIEW
SIZING KEY PROSPECTS
Key Prospects in the Tens of Millions
Table 5-1 Small Business Workers, Key Employees, and Purchasers, 2021-2025 (millions and percent)
Small Business Credit Card Penetration Remains Low Among Key Target Groups
Table 5-2. Small Business Credit Card Usage: Small Business Workers, Key Employees, and Purchasers, 2025 (millions and percent)
SMALL BUSINESS WORKERS AND KEY EMPLOYEES
Self-employed adults are the largest single group of key employees
Owners are most apt to have small business credit cards—but penetration is low
Table 5-3. Small Business Credit Card Usage Among Small Business Workers and Key Employees, 2025 (millions and percent)
Small Business Workers and Key Employees: Demographics
HH Income
Table 5-4. Small Business Workers and Key Employees: Share of Population by HH Income, 2025 (percent)
Net Worth
Table 5-5. Small Business Workers and Key Employees: Share of Population by Net Worth, 2025 (percent)
Business Employment Size
Table 5-6. Small Business Workers and Key Employees: Share of Population by Business Employment Size, 2025 (percent)
Generation
Table 5-7. Small Business Workers and Key Employees: Share of Population by Generation, 2025 (percent)
Race/Ethnicity
Table 5-8. Small Business Workers and Key Employees: Share of Population by Race/Ethnicity, 2025 (percent)
SMALL BUSINESS PURCHASERS
Small Business Purchasing Decision-Makers
24 million workers are involved in purchasing decisions
Table 5-9. Small Business Workers and Purchasers, 2025 (millions and percent)
Upper management holds the keys to purchasing decisions
Table 5-10. Share of Small Business Workers and Key Employees Who Have Made Purchases for Their Business, 2025 (percent)
Most small business purchasers spend less than $50,000 annually
Table 5-11. Small Business Purchasers by Amount Spent in the Last 12 Months, 2025 (millions and percent)
Purchasing decisions among larger businesses are more decentralized
Table 5-12. Small Business Purchasers by Amount Spent in the Last 12 Months and Business Employee Size, 2025 (percent)
Key Small Business Purchasing Categories
Table 5-13. Small Business Purchasers by Type of Product/Service Purchased in the Last 12 Months, 2025 (millions and percent)
Key purchase categories shift with employment size
Table 5-14. Small Business Purchasers by Type of Product/Service Purchased in the Last 12 Months and Business Employee Size, 2025 (percent)
CHAPTER 6: SMALL BUSINESS CREDIT CARD USERS, BY CARD NETWORK AFFILIATION
OVERVIEW
ROOM FOR GROWTH
Table 6-1. Small Business Credit Card Users, 2021-2025 (millions and percent)
Table 6-2. Small Business Credit Card Users by Card Network Affiliation, 2021-2025 (millions and percent)
Table 6-3. Small Business Credit Cards: Usage, Usage in Past 30 Days, and Active Usage Rate by Card Network Affiliation, 2025 (percent)
Demographic Analysis
Visa and American Express skew to higher household incomes
Table 6-4. Small Business Credit Card Users by Network Affiliation and Share of Population by HH Income, 2025 (percent)
Small business credit cardholders exhibit strong high-net worth skew
Table 6-5. Small Business Credit Card Users by Network Affiliation and Share of Population by Net Worth, 2025 (percent)
A tight race for Gen X and Millennials
Table 6-6. Small Business Credit Card Users by Network Affiliation and Share of Population by Generation, 2025 (percent)
CHAPTER 7: SMALL BUSINESS BANKING RELATIONSHIPS
OVERVIEW
MOST USED FINANCIAL SERVICE: SMALL BUSINESS CREDIT CARDS
Key Role: Helping Financial Services Providers Build Deeper Business Relationships
Table 7-1. Small Business Credit Card and Loan Usage Among Small Business Key Employees by Job Title/Employment Affiliation, 2025 (percent)
THE SMALL BUSINESS BANKING RELATIONSHIP
Key Small Business Employees Are Most Likely to Bank with Chase
It Wasn’t Always This Way
Table 7-2. Top Ten Banks Used in the Past 12 Months by Small Business Key Employees, by Type of Service and Job Title/Employment Affiliation, 2025 (percent)
Chase Also Wins on Credit Card Usage Penetration
Table 7-3. Top Ten Bank is Issuing Credit Cards to Small Business Key Employees by Job Title/Employment Affiliation, 2025 (percent)
Untapped Opportunity: Business Checking Accounts and Other Services
A blip on the radar
Table 7-4. Types of Banking Services Held by Small Business Key Employees by Job Title/Employment Affiliation, 2025 (percent)
Small Business Loan Usage Lags Cards, Underscoring Use Case Differences
Table 7-5. Types of Loans and Mortgages Held by Small Business Key Employees by Job Title/Employment Affiliation, 2025 (percent)
CHAPTER 8: CREDIT CARD USAGE: PERSONAL VERSUS BUSINESS PURPOSES
OVERVIEW
CREDIT CARD INFLUENCE ON BUSINESS SPENDING
Overall credit card usage dwarfs small business credit card usage
Table 8-1. Major Credit Card vs. Small Business Credit Card Users, 2025 (millions and percent)
Small Business Credit Card Penetration Among Small Business Employees Is Low
Table 8-2. Small Business Credit Card Usage: Small Business Workers, Key Employees, and Purchasers 2025 (millions, thousands, and percent)
Yet 20 Million Small Business Workers Use Credit Cards for Business Purposes
Table 8-3. Small Business Workers: Credit Card Usage for Business versus Personal Purposes, 2025 (millions and percent)
An Untapped Market of 18 Million Small Business Workers?
Table 8-4. Small Business Workers: Credit Card Ownership and Usage for Business versus Personal Purposes, 2025 (millions and percent)
Even Among Key Business Employees, Personal Card Use for Business Is Rampant
Table 8-5. Small Business Key Employees: Credit Card Ownership and Usage for Business versus Personal Purposes, 2025 (millions and percent)
Differences among key employees
Table 8-6. Small Business Key Employees by Type: Credit Card Usage for Business versus Personal Purposes, 2025 (percent)
Table 8-7. Small Business Key Employees by Type: Credit Card Usage for Business versus Personal Purposes, 2025 (millions)
CHAPTER 9: SMALL BUSINESS CREDIT CARD ISSUERS
JPMORGAN CHASE
Table 9-1. Chase Small Business Credit Cards: Summary Comparison, 2025
Performance Trends: Chase Seeks Additional Small Business Credit Card Share
Already well-positioned: $135 billion in estimated small business credit card spend
Table 9-2. JPMorgan Chase Credit Card Payment Value: Total, Consumer, and Small Business Payment Value, 2019-2024 ($ billion and percent)
Small business loan portfolio size on par with American Express
Table 9-3. JPMorgan Chase Credit Card Loans Outstanding: Total, Consumer, and Small Business Loans, 2019-2024 ($ billion and percent)
Chase Small Business Banking Lends Support
Micro business powerhouse with $234 billion in deposits and loyal customers
Business Banking clients have driven small business credit card account growth
Table 9-4. JPMorgan Chase Business Banking Metrics, 2024 ($ billion, millions, and percent)
Major Card Moves: A 2022-2025 Timeline
CAPITAL ONE
Capital One’s Small Business Credit Card Lineup
Performance Trends: Strong Small Business Credit Card Loan Growth
Table 9-5. Capital One US Credit Card Loans Outstanding: Total, Consumer, and Small Business Loans, 2021-2024 ($ billion and percent)
Table 9-6. Capital One US Credit Card Payment Value, 2019-2024 ($ billion and percent)
Major Card Moves: A 2021-2025 Timeline
BANK OF AMERICA
Performance Trends: Credit Cards Power BofA’s Small Business Loan Portfolio
Table 9-7. Bank of America Small Business Loans Outstanding: Credit Card vs. Other Loans, 2019-2024 ($ billion and percent)
Small business credit card loans top $11 billion
Table 9-8. Bank of America Credit Card Loans Outstanding: Total, Consumer, and Small Business Loans, 2019-2024 ($ billion and percent)
Small business credit cards contribute a chunk of credit card payment value
Table 9-9. Bank of America Card Payment Value: Total, Credit, and Debit Payment Value, 2019-2024 ($ billion and percent)
Major Card Moves
CHAPTER 10: SMALL BUSINESS NETWORK OPERATORS
AMERICAN EXPRESS
Performance Trends: Moderate Small Business Credit Card Payment Value and Loan Growth
AMEX sits at the top of the issue heap but behind Visa
Table 10-1. American Express US Small Business Credit Card Payment Value, 2024 ($ billion and percent)
Table 10-2. American Express US Consumer, Small Business, and Corporate Cardholder Loans, Q2 2024 vs. Q2 2025 ($ billion and percent)
Small business loans top $30 billion—but Chase is right behind American Express
Small business card receivables on the decline
Table 10-3. American Express US Quarterly Small Business Cardholder Receivables and Loans, Q3 2023-Q2 2025 ($ billion and percent)
The American Express Small Business Credit Card User: A High Income Haven
Table 10-4. Small Business Credit Card Users by Network Affiliation and Share of Population by HH Income, 2025 (percent)
Small Business Headwinds
Fintech pressures
Co-branded card program loss
Major Moves
Business Checking is a hit
Platinum refresh
What competition?

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