Just as with personal credit cards, there’s a range of factors to consider before deciding if a business credit or charge card is right for you. Use the table above to compare UK business credit cards and find the lowest rates and fees.
The best business credit card option for you is going to depend on what you need the card to do. Let’s break it down.
1% cashback uncapped No annual fees Up to £250K credit limit
“Best for” picks are those we’ve evaluated to be best for certain product features or categories. They’re chosen from among the brands we work with. If we show a “Promoted for” pick, this means it’s been chosen from among our partners and is based on factors that include special features or offers, and the commission we receive. Keep in mind that our picks may not always be the best fit for you, and it’s important to compare for yourself to find a product that works for you.
Our experts put the full UK business credit market to the test and picked out the best credit cards and charge cards available for December 2024 listed below.
Representative Example: The standard interest rate on purchases is 34.9% pa. (variable), so if you borrow £1,200 the Representative APR will be 34.9% APR (variable)
The Funding Circle Business Cashback Card is tailored for small businesses, offering 2% cashback on all spending for the first 6 months, up to £2,000, and 1% uncapped cashback thereafter. With no monthly fees and rates starting from 14.9% per year, it provides a cost-effective solution for managing everyday business expenses.
Pros
1% cashback uncapped
No annual fees
Up to £250K credit limit
Cons
Issuer
Monavate Ltd
Network
Visa
Annual/monthly fees
£0
Purchases
34.9%
Introductory Rewards
Earn 2% cashback up to £2000 for 6 months, 1% after that. T&Cs apply.
Purchases interest-free period
Up to 42 days
Representative Example: The standard interest rate on purchases is 34.9% pa. (variable), so if you borrow £1,200 the Representative APR will be 34.9% APR (variable)
Just as with personal credit cards, certain providers focus on specific card types. To find the most suitable credit card for your business, delve into what different cards do. Here are some of the most popular business credit card categories in the UK.
Cashback business credit cards: Earn when you spend
With cashback credit cards, you earn cashback every time you use your business card. Cashback is usually paid into your business current account, so you can use it as you wish. Why not use it to treat your team to lunch?
Many of these cards come with an annual fee and may also offer added rewards or perks, such as travel insurance. They don’t tend to have the most competitive APRs, so they’re best for businesses that plan to use the credit card heavily, to maximise their cashback, and then pay back the balance in full every month.
Get back a percentage of your credit card spending.
All your business spending counts, so you should be able to earn cashback quite quickly.
Earning cash instead of rewards points means freedom in how you use this benefit.
Cons
The annual card fee can be expensive.
The interest rates on purchases aren’t especially competitive, so these cards aren’t great for borrowing.
There are usually strict eligibility criteria for cards with the best cashback rates.
What’s the earn rate? It’s usually expressed as a percentage, so if a card offers 1% cashback, for example, you’ll get £1 for every £100 you spend.
Do you get a bonus when you open the account? A provider might offer double the earn rate for the first few months. This isn’t the most important factor, since you’re likely to want your card for the long term, but it’s worth having a look at.
How much will the card cost to run? Cashback credit cards tend to have high annual fees, so you should weigh up whether you’ll earn enough in cashback to make the fee worth paying.
What happens if you don’t clear the balance in full? Check what interest rate you’d be paying on your typical balance.
Is your business eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, which will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
What else can the card do for you? Some cashback cards offer added benefits, such as travel insurance or a concierge service.
The American Express Business Gold Charge Card is our top pick for rewards. With this card, customers can earn Amex Membership Rewards points with their day-to-day business spending, in addition to bagging themselves an intro bonus of up to 20,000 Membership Rewards® points when you spend £3,000 in the first 3 months. These points can then be redeemed in several ways, including on flights, hotel stays, experiences or gift cards. This particular Amex is a charge card, which means users need to pay off their balance in full each month. There’s no annual fee for the first year of having this card, but from the second year onwards the annual fee rises to £195.
Rewards business credit cards: Free treats from your business spending
These business cards reward you for paying with your credit card or charge card, usually offering reward points for every £1 spent on eligible purchases. A business card with rewards will let you earn points on your work spending (potentially even on your PPC spending).
It’s important to remember that these business cards usually come with higher annual fees and interest rates. So, like cashback cards, these are best for businesses that plan to use their credit card quite heavily and pay off their credit card bill in full every month (and in the case of charge cards, you will need to clear your balance each month). What’s more, you’ll need to make sure that the value of the rewards outweighs the card fee.
Pros
Earn rewards on your business card spending.
All your business spending counts, so you should be able to earn points more quickly than with your personal credit card.
Treat yourself and your team to benefits and experiences you wouldn’t normally get.
Cons
The annual card fee can be high, so weigh it up against your card usage.
Many of these cards leave much to be desired when it comes to the cost of borrowing.
What kind of rewards do you want to redeem? It’s a good idea to compare not only rewards credit cards, but also rewards schemes. You’ll be able to redeem your reward points for a range of discounts and perks, from shopping to travel.
What’s the earn rate? Check how many points the card give you for every £1 you spend and how much each point is worth.
Is there a bonus on account opening? Many rewards cards come with an introductory bonus. Of course, it’s just a one-off benefit, but it’s still worth checking it out.
How much will the card cost to run? Rewards credit cards tend to have high annual fees, so you should do the maths and make sure you’ll use the card enough to make it worth it.
What happens if you don’t clear the balance in full? Check what interest rate you’d be paying on a typical balance.
Is your business eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, that will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
What else can the card do for you? Some rewards cards offer added benefits, such as travel insurance or a concierge service.
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 36.19% APR (variable).
The Capital on Tap Business Credit Card is our top pick for improving your credit score, as applicants with a low credit rating may be eligible for this business credit card. Responsible use of this card can then help users build their credit score. The Capital on Tap card is designed for small businesses and is a great all-rounder. Users can get 1% cashback on their everyday business spending, and the preloading feature means the card’s credit limit can be topped up with your own funds. Unlimited additional cards for employees are available at no extra cost, and Capital on Tap also integrates with accounting software packages such as Xero and Quickbooks.
Pros
Capital on Tap offers out-of-the-box integrations with Xero, Quickbooks, FreeAgent and Sage.
You get up to 42 days to spread the cost of purchases (provided you pay off your balance in full each month). Plus, this even applies to non-sterling transactions, which isn't always the case.
The Capital on Tap app (which is fun to say) for Android or iPhone is a quick and easy way to log in to your online portal and offers the same functionality. It can be used by both the main account holder and supplementary cardholders, but as you might expect, the main account holder will be able to access more features.
You can get unlimited additional cards at no additional cost for employees and partners.
There are no currency conversion charges when you use your card overseas. You’ll just be charged the Visa conversion rate.
Applicants with low credit scores may be eligible.
You can opt for the fee-free deal or shoulder a small annual fee of £99 p.a. to access more lucrative rewards.
You can top up your credit balance with your own funds to use alongside your credit limit and earn cashback on the full amount you spend.
Cons
Although there are no fees for cash withdrawals, you will be charged interest from the moment you get your cash. Interest is charged daily and calculated monthly for the amount of time you borrow the funds, which means it can become expensive.
The free transfers out from your Capital on Tap account must be to your linked business account (this will be the account that your direct debit for repayments is taken from).
Transfers to your business bank account always incur interest from the day of the transaction (your usual "up to 42 days" interest-free won't apply to this part of your balance, in the same way as cash withdrawals).
Issuer
Capital on Tap
Network
Visa
Annual/monthly fees
£0
Purchases
36.19%
Introductory Rewards
10,000 bonus points when £5,000 spent in first 3 months.
Purchases interest-free period
Up to 42 days
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 36.19% APR (variable).
Bad credit business credit cards: Get your business credit score back on track
These cards can offer a credit facility to your company even if a few funding issues in the past mean that your company’s credit score is less than ideal – for example, if you’ve repeatedly missed credit repayments in the past.
Bad credit credit cards tend to have a high interest rate, so you must clear your card balance in full every month. Using a bad credit credit card correctly for a while will help your business rebuild its credit history and improve its credit score.
You can successfully apply for a credit card to help with your business’ cash flow even if your credit history isn’t perfect.
Improve your business’ credit score by paying the credit card bill in full every month.
Have your credit limit reviewed as your credit score improves.
Cons
High interest rates mean you need to avoid carrying a balance on these cards.
Very few perks and rewards.
Are you eligible? Bad credit credit cards typically have quite loose eligibility criteria, but it’s still worth using an eligibility checker if available. It’ll tell you how likely your business is to be accepted for the card without impacting your credit score.
How much will the card cost to run? Check for an annual fee.
What credit limits are available and when are they reviewed? If your business’ credit score isn’t great, at the beginning you may be offered a low credit limit, which could then be increased if you clear your credit card balance on time for a while and never exceed your credit limit.
What else can the card do for you? Bad credit credit cards aren’t exactly known for their perks, but you may still be able to get some discounts or treats.
Representative example: When you spend £1,200 at a purchase rate of 28.2% (variable) p.a. with a fee of £250 per annum, your representative rate is 107.8% APR (variable).
The British Airways American Express Accelerating Business Card ideal for companies that frequently travel with British Airways. With a £250 annual fee, it allows cardholders to earn Avios points on every purchase and offers 30,000 bonus Avios when spending £5,000 in the first 3 months. The card also accelerates points collection for BA spending, making it easier to earn free flights, hotel stays and upgrades. Additionally, the card provides access to the On Business programme, enhancing rewards for frequent travelers.
Pros
Welcome bonus offer
Complimentary employee cards
1.5 Avios for every eligible £1 spent
Customers report excellent customer service when dealing with American Express
Earn points on day-to-day spending
Up to {{ REWARDS.MAX_INTRO_BONUS_EARNINGS }} points introductory bonus
Cons
{{ RATES_AND_FEES.ACCOUNT_FEES }} annual account fee - only worthwhile for frequent business travellers. The fee is tax deductible and refundable pro-rata if you cancel during the year
Extra fee on foreign exchange transactions
Issuer
American Express
Network
Amex
Annual/monthly fees
£250 per annum
Purchases
28.2%
Introductory Rewards
Earn 30,000 bonus Avios points when you spend £5,000 in first 3 months of Cardmembership. Terms apply.
Purchases interest-free period
Up to 56 days
Representative example: When you spend £1,200 at a purchase rate of 28.2% (variable) p.a. with a fee of £250 per annum, your representative rate is 107.8% APR (variable).
Frequent flyer business credit cards: Earn air miles for your business trips
This is a particular type of rewards business credit card which will be linked to an existing frequent flyer programme, such as Avios. Some frequent flyer schemes are tied to a specific airline, while others allow you to get points which can be redeemed at a number of airlines.
This kind of business credit card can be particularly lucrative for companies that do a lot of travelling, but as these are rewards cards which may have a higher APR, it’s best to clear the balance in full each month.
All your business spending counts, so you should be able to earn points more quickly than with your personal credit card.
Exchange your miles or points for free flights, hotel stays or flight and room upgrades.
Cons
These cards usually come with a not-so-cheap annual fee.
The interest rate typically offered by these cards isn’t great.
Which airlines do you normally fly with? Make sure they’re included in the deal. Don’t be tempted to change your flying habits unless you’re 100% confident it’s going to be cheaper or better: a good credit card should adapt to your business, not the other way around.
What’s the earn rate? Check how many points the card will give you for every £1 you spend. If you can, also try to figure out how much each point will be worth.
Is there a bonus on account opening? Introductory bonuses are especially worth considering if you’re only looking for a card for the short term.
How much is the foreign currency transaction fee? If you spend much time abroad, foreign currency transaction fees can become really expensive, so either you find a frequent flyer credit card that also offers fee-free spending abroad, or you may want to consider using a different card when you travel.
How much will the card cost to run? Check for an annual fee. Will you earn enough rewards to make it worth it?
What happens if you don’t clear the balance in full? Look at the interest rate.
Is your business eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, that will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
What else can the card do for you? Some frequent flyer cards offer added benefits, such as travel insurance or airport lounge access. If you want to travel in comfort, these extra perks can be a game changer.
Representative example: When you spend £1,200 at a purchase rate of 19.6% (variable) p.a. with a fee of £150 per annum, your representative rate is 56% APR (variable).
The Barclaycard Premium Plus Credit Card is our current top pick for 0% purchases, with new cardholders benefitting from an introductory offer of 6 months 0% interest on purchases. After that the purchase rate on any unpaid credit card balance reverts to 19.6%. There is an account fee of £150 per year, but this also covers any additional cards for eligible employees, plus there’s 0.5% cashback on spending. You’ll also get other perks with the Barclaycard Premium Plus Credit Card, including free worldwide travel insurance and access to Barclaycard Business Rewards, which includes exclusive offers and discounts on hotel stays, restaurants, car hire and entertainment.
Pros
6 months of 0% interest on purchases.
Earn 0.5% cashback on all business spend, up to £400 per year.*
Thereafter, up to 56 days of 0% interest on your purchases each billing cycle (provided you pay off your balance in full each month).
Complimentary travel insurance including up to £2m medical and personal liability cover worldwide, flight delay/cancellation cover up to £6,000 and baggage delay/loss cover up to £3,000.
Handpicked perks, only for our business cardholders through business rewards. T&Cs apply.
Customers report excellent customer service when dealing with Barclaycard Business.
Cons
Account fee of £150.
The Barclaycard Business app offers very limited services and has received negative reviews in App Store and Google Play – for now you're likely better off using the online MyControls portal.
The cash back is capped annually, although in fairness you'd need to spend £80,000 to hit that cap.
Issuer
Barclaycard Payments
Network
Mastercard
Annual/monthly fees
£150 per annum
Purchases
0% for 6 months reverting to 19.6%
Purchases interest-free period
Up to 56 days
Representative example: When you spend £1,200 at a purchase rate of 19.6% (variable) p.a. with a fee of £150 per annum, your representative rate is 56% APR (variable).
0% purchase business credit cards: Spread the cost of a large purchase
These credit cards charge no interest on your purchases for a few months, allowing you more time and flexibility to pay for them: ideal if your company needs to spread the cost of a major purchase, or if it’s expecting to spend more than usual for a few months. Unlike with personal 0% purchase cards, the introductory deal won’t usually be super long, but if you need to buy, say, a piece of equipment, it’ll give you a bit more time to even out your cash flow. Don’t forget to make a note in your calendar of when the 0% period ends, because that’s when your balance will go back to accruing interest.
Pros
Get a few months to pay back the cost of a large purchase or deal with an emergency without paying interest.
Some of these cards may come with extra rewards and perks.
Cons
The revert rate can be quite high, so you need to clear your balance before the 0% deal ends.
The introductory 0% period usually only lasts a few months.
How long is the 0% offer? Consider whether it gives you enough time to recuperate or if you should opt for a different type of business finance instead.
What’s the revert rate? This will tell you how much it’s going to cost you in interest if you haven’t cleared your balance by the end of the 0% introductory period.
How much will the card cost to run? Check for an annual fee.
Are you eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, that will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
What else can the card do for you? Does it offer any extra perks or discounts that could be appealing for your business?
Representative example: If you spend £1,200 with a fee of 4.9%, your representative rate is 33.4% APR.
The Funding Circle FlexiPay Business Credit Card is our pick for a low rate card. Business cardholders have the option to spread the cost of their purchases over 3 months. With the FlexiPay card, users are charged a flat fee for every transaction they make. The fee ranges from 3.9% to 5.9% depending on the assessment Funding Circle makes when customers apply for the card. The card transactions are then grouped together in a monthly balance, which can be paid off over the course of 3 equal monthly instalments. If the monthly balance is under £100, it will be rolled over to the next month. You can’t use the FlexiPay card to withdraw cash from an ATM.
Pros
No annual or set up fees
Manage and track business expenses in one place
Pay off balance over 3 months
Cons
You'll be charged a flat fee for every transaction
Issuer
Monavate Ltd
Annual/monthly fees
£0
Purchases
0% interest, flat fee per transaction
Representative example: If you spend £1,200 with a fee of 4.9%, your representative rate is 33.4% APR.
Low rate business credit cards: Borrow at a competitive rate
These business credit cards have low standard variable interest rates for purchases and can give companies a more affordable option if they need to pay off spending over a longer period of time. This makes them a good choice for small businesses, businesses with seasonal or otherwise variable revenue, or any businesses that want a credit card on hand for any unexpected costs.
Some business credit cards with low rates even extend the same standard interest rate for purchases to cover cash advances and balance transfers. Additionally, a number of these business credit cards with low rates come with a minimal annual fee.
Pros
Affordable rates allow for some flexibility when it comes to paying back the credit card balance.
Annual fees are usually quite competitive as far as business credit cards go.
Good choice if you’re more worried about the financial features of a card than about earning rewards.
Cons
They require a good credit score (or your business won’t get the advertised rate).
Don’t expect many rewards or perks to come with these cards.
How low is the rate? If you’re expecting to sometimes have to carry a balance on the card, this is the main thing you should be looking at. It tells you how much borrowing with the card will cost you. Keep in mind that not everyone who applies will get the advertised rate and that your actual deal will also depend on your credit score.
How much will the card cost to run? Check to see if there’s an annual fee.
What credit limits are available? How much could you be able to borrow?
Are you eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, that will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
What else can the card do for you? Perks and rewards aren’t really these cards’ main focus, but they could make a nice extra that can help you choose between two otherwise similar cards.
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 36.19% APR (variable).
The Capital on Tap Business Credit Card is our top pick for travel, as it comes with fee-free spending abroad. There’s also no fee for withdrawing cash, although cardholders will be charged interest on the amount they take out of a cash machine from the date they withdraw it. The Capital on Tap card is aimed at small businesses, and users can get 1% cashback on their everyday business spending, as well as unlimited additional cards for employees at no extra cost. The preloading feature means that the card’s credit card limit can be topped up with your own funds, and a Capital on Tap card account can also be linked up with accounting software.
Pros
Capital on Tap offers out-of-the-box integrations with Xero, Quickbooks, FreeAgent and Sage.
You get up to 42 days to spread the cost of purchases (provided you pay off your balance in full each month). Plus, this even applies to non-sterling transactions, which isn't always the case.
The Capital on Tap app (which is fun to say) for Android or iPhone is a quick and easy way to log in to your online portal and offers the same functionality. It can be used by both the main account holder and supplementary cardholders, but as you might expect, the main account holder will be able to access more features.
You can get unlimited additional cards at no additional cost for employees and partners.
There are no currency conversion charges when you use your card overseas. You’ll just be charged the Visa conversion rate.
Applicants with low credit scores may be eligible.
You can opt for the fee-free deal or shoulder a small annual fee of £99 p.a. to access more lucrative rewards.
You can top up your credit balance with your own funds to use alongside your credit limit and earn cashback on the full amount you spend.
Cons
Although there are no fees for cash withdrawals, you will be charged interest from the moment you get your cash. Interest is charged daily and calculated monthly for the amount of time you borrow the funds, which means it can become expensive.
The free transfers out from your Capital on Tap account must be to your linked business account (this will be the account that your direct debit for repayments is taken from).
Transfers to your business bank account always incur interest from the day of the transaction (your usual "up to 42 days" interest-free won't apply to this part of your balance, in the same way as cash withdrawals).
Issuer
Capital on Tap
Network
Visa
Annual/monthly fees
£0
Purchases
36.19%
Introductory Rewards
10,000 bonus points when £5,000 spent in first 3 months.
Purchases interest-free period
Up to 42 days
Representative example: When you spend £1,200 at a purchase rate of 36.19% (variable) p.a., your representative rate is 36.19% APR (variable).
Travel business credit cards: Spend abroad with no fees
Fees for spending in a currency other than pounds sterling can be as much as 3%. That means if you make a £500 foreign transaction, you’ll be charged £15 in fees. If you do a lot of business spending abroad, that can quickly add up. With a travel business credit card, making payments abroad is free; and some also offer reward points for your spending. Travel credit cards can also sometimes offer fee-free cash withdrawals, but keep in mind that interest is usually charged from the moment you get your cash out.
Avoid expensive currency conversion fees when you spend overseas.
These cards sometimes come with additional travel rewards and perks.
As long as they’re on the Mastercard or Visa networks, these cards will be widely accepted abroad.
Cons
Not necessarily the cheapest option if you can’t clear your balance in full every month.
Even though cash withdrawals abroad may also be free, you’ll usually still be charged interest on the amount you take out.
Will the fee-free deal apply to the countries you’re visiting? Some travel credit cards only allow fee-free spending abroad in Europe, so make sure that’s not the case for your card if you often need to travel outside the continent.
Does the card offer any other rewards or travel perks? You may find a travel credit card that also lets you collect air miles, or offers added benefits such as travel insurance or airport lounge access.
Are you eligible? Read the eligibility criteria carefully before applying. Some providers will also offer a so-called “eligibility checker”, that will perform a soft search on your business’ credit history and let you know how likely it is to be accepted for the card.
How much will the card cost to run? Check to see if there’s an annual fee. If there is, weigh it up against how much you would pay in foreign currency transaction fees with a different business credit card and decide if it’s worth it.
What happens if you don’t clear the balance in full? Check what interest rate you’d be paying on a typical balance.
What are business credit cards?
Business credit cards are designed to suit the financial needs of different types of companies, ranging from small startups to major corporations. These cards allow you to keep your business and personal expenses separate, assign cards to employees, manage your cash flow, track your finances and earn rewards.
How to choose the best business credit card in December 2024
Work out what you need from a credit card. Are you looking for a business credit card with the lowest rates and fees? Do you want extra features, like rewards when you spend? Or do you want a card designed for business travel?
Find providers that offer the type of card you’re after. Some business credit card providers specialise in just one type of card and may not offer other types at all.
Compare cards. Once you’ve identified providers, compare cards to find the one that best suits your business.
Check the whole package. Look at the APR, annual fees, foreign exchange fees, and perks when making your decision.
Check you qualify. Most business credit cards have specific eligibility criteria that you must meet to be able to get that card. These typically include a minimum trading period and minimum turnover. Make sure you meet these requirements before applying for any credit product.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Business credit cards vs personal credit cards
Unlike personal credit cards, business credit cards are designed for work spending and many include features such as additional cards for employees, customisable spending limits for different users and expense tracking. Some business credit cards may even have analytics tools to help with business reporting and budgeting.
But in most other ways, business credit cards are similar to personal credit cards. With either option, you’ll get access to funds up to a specified limit and be able to pay off what you spend over time (with interest charges). They both also have annual fees and interest rates, as well as perks such as rewards or complimentary insurance.
What are business charge cards?
A charge card is an alternative to a business credit card and acts as a short term (usually monthly) loan to a business for items you buy which are charged to the card. These cards allow you to defer payment until the end of the statement period, when you must pay off the account in full. Interest rates don’t apply but many providers apply a hefty late fee.
Business charge cards are designed for organisations that can clear their balance each billing cycle, which is typically between 25 and 51 days. If you are looking to borrow funds over a longer period, business credit cards may offer more flexibility.
Despite having a different account structure, charge cards share features with traditional credit cards, including expense tracking tools, supplementary cards, rewards programmes and complimentary extras.
If you or your team frequently use company vehicles or rental cars as part of their day-to-day job, it’s worth considering getting a fuel card. Fuel cards are a simplified form of business charge cards that can only be used to purchase petrol and related products, and generally offer discounts on fuel. They are popular with transport companies or those with multiple company cars as they let drivers pay for their fuel costs without having to give them a full-featured credit card.
Comparing business credit cards side-by-side allows you to find an option that is suited to your business’s specific needs. Some of the core factors to compare when weighing up business credit cards include:
Business spending habits. The card you need depends largely on the spending habits of your business. If your business uses a credit card to purchase flights, and regularly pays it off, then a frequent flyer card might offer competitive value. On the other hand, if your business needs the card primarily for borrowing, look for a low-interest rate, low fee and/or interest-free days. Business cards offering a lot of “bells and whistles” may seem appealing, but ask yourself if they will have a positive impact on your bottom line.
Interest rates. Interest rates can vary hugely from card to card. Some cards charge the same rate for all transactions and others apply different rates depending on whether the transaction is a purchase, cash advance or balance transfer.
Fees and charges. Business credit cards feature a range of fees and charges. Some of the most common include:
Annual or monthly fees. Business credit card annual fees are usually around £30 a year but can be more.
Supplementary cardholder fees. While some business credit cards offer additional cardholders at no extra cost, others may charge up to £75 for extra cards. Check whether fees are “one-offs” or regular charges.
Currency conversion fees. This charge is applied for transactions made overseas or in a foreign currency and is typically 3% to 3.5% of the transaction value.
Over-limit fees. If you or an employee goes over the credit limit on the account, a fee of around £12 may be applied. Additionally, this may be visible in your business’s credit history.
Late payment fees. If you don’t make the minimum payment on your business credit card by its due date, a fee is likely to be applied. This may be visible in your business’s credit history.
Interest-free days. Business credit cards offer an interest-free period on purchases – usually around 55 or 56 days – provided you pay your balance in full by the statement due date. This can offer valuable short term cash flow flexibility. Note that non-sterling transactions and cash advances will usually be exempt from this perk.
Minimum required monthly payments. Business credit cards generally have minimum payments of 2% to 4% of the outstanding balance, unless they are charge cards, in which case they need to be paid in full each statement cycle.
Extra perks. These may include:
Rewards points. Collect reward points per pound spent and redeem these with anything from equipment to days out.
Air miles. Collect air miles for popular programmes such as Avios.
Online business banking. Business credit cards usually give you all the access you would expect from banking online, such as 24/7 access to your account plus business security options such as encryption technology for peace of mind. Business applications may also allow mobile management so you can bank on-the-go with your business.
Complimentary insurance. Many business credit cards include complimentary travel insurance and liability insurance for the account.
Airport lounge access. Travel like a VIP with free access for cardholders and, potentially, their guests too.
Expense management systems. Keeping on top of business expenses and consolidating your credit card transactions can be difficult among all the other tasks involved in running a business. Expense management systems give you 24/7 control and visibility with standard or custom reports.
When comparing business credit cards, check if you need to sign a personal guarantee to be approved. This is more likely if your business has a limited credit history and means you’ll be personal liable for the debt if your business can’t repay it.”
Pros and cons of business credit cards
Pros
Potential tax deductions for claiming annual fees
Simplified bookkeeping/accounting process
Expense and cash flow management
Liability options
Security features
Customisable credit limits
Builds business credit
Additional cardholders
Complimentary extras specifically designed for businesses
Cons
Require a good credit record and business turnover
Potentially expensive fees
Interest charges if you carry a balance
Can be hard to keep track of employee spending if you’re a small business
Limits spending to business expenses only
Are there eligibility checker tools for business credit cards?
Business credit card providers, such as Capital on Tap, have an eligibility verification tool on their website. Currently, you can only assess your eligibility for specific cards on the issuer’s site and you can’t yet check multiple card issuers in one go.
How to apply for a business credit card
If you’re interested in getting a business credit card, the first step is to compare a range of options to find one that is convenient and affordable for your business. Once you have found one, you can usually apply online. Before you apply for a credit card, you’ll need to make sure that you meet the following eligibility requirements and have organised the necessary documents to complete the application:
Eligibility requirements
Much like personal credit cards, cardholders will need to be over 18 and residents of the UK. More often than not, your business needs to be UK-based too. Some lenders will also stipulate a minimum annual turnover and how many years you’ve been trading for. While cards are available for pretty much any size and kind of company, lenders may have specific products for specific categories of businesses (for example sole traders, limited companies, self-employed and freelancers).
Documents and details you need to supply
The details you’ll be asked to provide vary depending on the card, but generally include:
Contact details. Contact details for you and/or your business.
Proof of identification. A valid form of identification, such as your driver’s licence or passport.
Financial information. You may need to provide information about your business income and/or revenue as well as any assets and liabilities, including investments, debts and regular expenses.
Additional cardholders. If you wish to manage employee spending under one account, you’ll also need to provide details of all cardholders.
Accountant’s information. Information on the person or organisation that manages your company books and financial records.
Other documents. Supporting documentation such as tax statements and investor reports may also be required.
If you’re approved, you could have your card in as few as 5-10 business days (depending on the account and issuer). You can then activate the card, and start using it for your business.
With expense tracking features, additional cards, interest free periods and reward options, credit cards can be a convenient option for both big and small businesses. Now that you know more about them, you can compare your options and find a product that suits your business’ needs.
Have you considered a card payment machine for your business?
Business credit cards are only one element of managing your company’s cash flow. When it comes to streamlining payments, a card payment machine could be a game-changer.
If your business needs to take card payments, having a dedicated card machine to process payments swiftly and securely can avoid the hassle of manual inputs, and also help free up your accounts team’s time that could then be put back into the business.
Card readers can also provide valuable insights through detailed transaction data, enabling better financial management and informed decision-making for your business. You can compare a range of card payment machines in our guide.
Overview of business credit cards
Lowest representative APR
16%
Longest 0% purchases offer
6 months
Longest 0% money transfer offer
12 months
Lowest cash advance
13.9%
Highest credit limit
£250,000
Highest cashback earn-rate
1%
Highest introductory bonus offer
80,000 points
The best business card issuer for customer satisfaction
We asked cardholders to rate their satisfaction with service, and whether they’d recommend their card issuer to a friend. We’ve shown both for each brand in the table below. Our independent survey of 400 card customers was carried out in December 2023. The table is ordered by the percentage of customers who said they’d recommend the brand to a friend.
Our customer satisfaction league table 2024
Card issuer
Logo
Overall satisfaction
Would recommend
Review
Link
Allied Irish Bank (GB)
★★★★★
97%
Allied Irish Bank (GB) was the winner in this year’s awards, scoring 4.6 out of 5 stars for overall customer satisfaction and receiving a recommendation score of 97%. Allied Irish Bank offers both standard and premium business cards, the latter of which come with extra customer benefits such as travel perks.
American Express was highly commended in this year’s awards with an overall customer satisfaction score of 4.4 out of 5 stars and a recommendation score of 100%. It offers a range of business credit and charge cards, helping customers manage their company’s cash flow, often while earning exclusive card rewards.
Lloyds Bank offers a business credit card with relatively low interest rates and flexible repayment options. It received an overall satisfaction score of 4.4 out of 5 stars and a recommendation score of 97% from its customer in our survey.
Bank of Scotland’s business credit card offers a credit limit of up to £10,000 and you can get up to 20 additional cards for your employees (subject to an annual fee per card). The provider scored 4.3 out of 5 stars for overall customer satisfaction.
Santander offers a flexible business cashback credit card with a reasonable annual fee. It received an overall satisfaction score of 4.2 out of 5 stars from its customers in our survey.
Barclaycard offers business credit cards to suit a range of business needs, with a variety of benefits and perks. It scored 4.2 out of 5 stars, with its customers in our survey praising the brand’s customer service.
One of the world’s largest banks, HSBC offers a competitive interest-free period and purchase rate with its business credit card. Barclays received an overall business card customer satisfaction score of 4.1 out of 5 stars.
Allstar offers a business credit card as an all-in-one card, combining a regular business credit card with a fuel card. The provider scored 4.1 out of 5 stars for overall customer satisfaction.
Capital on Tap offers a versatile everyday credit card, with the opportunity to earn rewards. Its customers in our survey gave the brand 4 out of 5 stars for overall satisfaction, citing the card’s ease of use.
Royal Bank of Scotland offers its business banking customers a straightforward credit card with a competitive purchase rate. It scored 3.9 out of 5 stars for overall customer satisfaction.
NatWest’s range of credit cards for its existing business customers come with a variety of features and benefits. Its business card customers in our survey scored NatWest 3.9 out of 5 stars for overall satisfaction.
Juni’s charge card offers 1% cashback on eligible spend and helps you keep track of your ad spend. Juni rounds out our customer satisfaction league table this year, with a score of 3.4 out of 5 stars.
It depends on the card: many do. However, the level of coverage, exclusions and so on differs between cards. If you’re choosing a card specifically for the travel insurance, check the terms and conditions of the card’s travel insurance policy carefully before you apply, to make sure the policy provides the coverage you need.
Credit card companies generally won’t allow you to make a transfer a balance equivalent to your entire credit limit: there’s usually a maximum of 80-95%. The specific amount will depend on your application, credit history and the bank’s lending criteria.
It depends on the card. Business credit cards in general can offer up to 99 additional cardholders.
Most business credit cards will not be eligible for instant approval, as there is typically increased risk for business lending. However, depending on your application criteria you could get a response in just a few minutes.
Corporate credit cards are designed for larger businesses that want one account for business expenses. Corporate business credit cards may provide up to 99 supplementary cards (or more in some cases) and offer pre-set spending limits for each additional cardholder.
Fees and charges paid as a result of using a credit card for business purposes are tax deductible. But there are exceptions and complications when the transaction could be deemed to be for personal benefit, either to you or an employee who uses the card. Check with your bank, accountant, or HMRC about what you can and can’t deduct.
Martin Lewis and MoneySavingExpert.com mainly focuses on consumer credit, not business, and hasn’t recommended a specific business credit card for several years.
If you make a formal application for a business credit card then that will be subject to a hard credit check. If you have a new or startup business that hasn’t built up a credit history yet, then the lender will likely check your personal credit score to help it assess the application.
Much like your personal credit score, you can find out your business credit score by contacting a credit reference agency. UK credit reference agencies that monitor business credit scores include Experian, Equifax and Dun & Bradstreet. Find out more about business credit scores here.
There are some circumstances in which applying for and using a business credit card could affect your personal credit score. However, you shouldn’t rely on this as a way to boost your personal credit score – here are some much more effective ways to improve your own credit score.
Yes, business credit cards could help build your business credit score as long as you keep on top of all your repayments and use the card responsibly.
Yes; but as your business grows and you spend more, you may find that a business credit card helps you keep your personal and business finances separate, give additional cards to your employees, and build up a business credit score. You’re also likely to get a higher credit limit on a business credit card than you can on a personal one. Find out more about business versus personal credit cards here.
No, UK-based businesses can’t apply for a Brex Credit Card.
Depending on the credit card provider, limited companies can apply for a business credit card as long as they meet the other criteria.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Emily Herring is a Publisher at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has recently joined the Investments team. She has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media. See full bio
Emily's expertise
Emily has written 148 Finder guides across topics including:
Can you get a 0% balance transfer credit card for your business? How about 0% purchase deals? We’ve put together a handy guide on 0% business credit cards.
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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