Best Business Credit Cards

Used carefully, a business credit card could help your business to grow, while also enabling you to benefit from perks and rewards on your spending.

Business credit cards offer a flexible way for businesses to get access to cash, whether that's to help them cover unexpected bills or pay for essential items. Managed well, business credit cards can also help you to build a business credit rating.

In this article, we’ll overview the best business credit cards for British firms.

At a Glance, Pros and Cons

If you want a succinct overview of the positives and negatives of business credit cards, this is the section for you.

Pros

✅ Can be easier to get accepted for — qualifying for a business credit card can be easier than obtaining a bank loan. If your business has a decent credit score or an established trading history, you're more likely to be accepted for a credit card.

✅ Improve cash flow — if you're waiting for invoices to be paid, for example, a credit card can help you cover important expenses in the interim.

✅ Rewards — some credit card companies offer incentives and rewards for choosing their business credit cards. Your business could receive air miles, cashback or other rewards in return for spending on the business credit card.

✅  Credit building — using a business credit card can help you establish a business credit score. This can help your business to access additional credit, such as a business loan, in the future.

Cons

❌️ Cycle of debt — taking out a credit card means you'll start to accumulate debt. If you struggle to meet your repayments each month, you could be charged high rates of interest and damage your credit score.

❌️ High interest — business credit cards can charge high rates of interest if you don't repay the balance each month and some also charge annual fees.

❌️ Less purchase protection — unlike personal credit cards, business credit cards do not offer purchase protection under Section 75 of the Consumer Credit Act. This is where you can make a claim to the card provider if there is a problem with your purchase.

❌️ Risk of overspending — if you give business credit cards to your employees, there is a risk they could overspend if you don't place spending limits on each card.

Compare Our Best UK Business Credit Cards for 2023:

Without further ado, let’s get on with our review of the leading small business credit cards. Each can be applied for in the UK.

1. Capital on Tap Business Credit Card — Best Overall Choice

The Capital on Tap business credit card is a popular contender in the business world.

Capital on Tap Business Credit Card

Credit Limit

Up to £250,000

Representative % APR (variable)

35.15% APR

• Up to 42 days interest-free.
• Uncapped 1% cashback with no annual fee.
• Unlimited free company cards.

Check my eligibility See more details

Representative Example – If you spend £1,200 at a purchase interest rate of 35.15% p.a. (variable) your representative APR will be 35.15% APR (variable). Your APR and credit limit may vary depending on your circumstances.

The card has a relatively low APR and no annual fee, making it highly attractive. The lowest rate for new customers is 15.5% APR, but you could pay a higher rate depending on your credit history.

In addition to the low APR, there are no annual fees, no fees for using ATMs, and no foreign exchange fees either.

This card can work for businesses of any size. You can order unlimited additional cards to support the business, offering flexibility and variety for any type of business needs. Credit limits of up to £250,000 are also available.

In addition, the card has a rewards programme in place. You'll earn uncapped 1% cashback on spending and you can redeem points against your balance, for cash or for discounted gift cards. If you agree to pay a fee of £99 per year, you'll also benefit from enhanced rewards, including Avios points. But you'll need to consider whether the rewards are enough to make the fee worth paying.

To qualify for this card, the applicant needs to be a shareholder or director in the business, the business needs to be incorporated as an LTD or LLP, and turnover must be >£24k per year. The business must not have any CCJs outstanding. 

2. Soldo Prepaid Company Card — Runner-Up Best Business Credit Card

To keep tabs on business expenditure, you could choose to use Soldo, a prepaid Mastercard that syncs with your accounting software of choice.

Soldo Prepaid Company Card

Credit Limit

None

Representative % APR (variable)

None

• Apply in minutes and get going in as little as one working day.
• Change or cancel your plan at any time.
• 30-day free trial.

Check my eligibility See more details

Get started with effortless expenses. Join 30,000+ businesses who’ve already made the switch.

Do you currently operate a business that requires careful monitoring of costs? If your organisation has several workers that use the same expense account (Best Budgeting Apps), you might be looking for a more streamlined method of administering things.

Soldo could be the answer.

Soldo's aim is to help you consolidate all of your business's accounting needs into a single location. With Soldo, you can easily oversee employee spending as you'll be able to set rules and limits for each card and control how much they spend where.

If you think this could be useful to you, read our guide on Soldo, so you can find out how it works, what features and advantages it offers and how much it costs.

If your firm regularly processes expenditure reports, Soldo is a great platform to employ. All of the necessary expenditure report tasks may be completed with the press of a button for only a few pounds every month.

The Soldo platform automates the process of allocating expenditures against certain budget lines, relieving you of the burden of keeping track of paper receipts.

3. American Express Business Gold Card — Rewards Business Credit Card

The American Express Business Gold Card has an annual fee that is pretty low for the business industry.

American Express Business Gold Card

Credit Limit

None

Representative % APR (variable)

None

• Annual fee £175 (£0 in the first year).
• Membership Rewards® points.
• Up to 99 complimentary Employee Cards.

Check my eligibility See more details

Turn business purchases into rewards and keep your cashflow flowing.

This is a great card if business rewards are important to you. Amex offers some of the best reward credit cards on the market, and the Business Gold card is no exception. The card has no annual fee for the first 12 months and costs £195 a year after that.

In return, you'll earn points as you spend on your card. Points can be redeemed on flights, your monthly statement or a whole host of other benefits. You'll also earn double rewards for spending on hotels, flights, and rental cars if you use the American Express travel site to book. 

If you apply for the AMEX business gold card, you'll also get a number of supplementary cards for your employees, helping you to build up rewards faster. You can also set spending controls, plus you can track and manage everything through the app, making it highly convenient.

4. Metro Bank Business Credit Card — Low APR Business Credit Card

If you’re local or loyal to Metro Bank, its business credit card is another great choice.

Metro Bank Business Credit Card

Credit Limit

Minimum £500

Representative % APR (variable)

14.9% APR

• Free transactions in Europe.
• Interest-free period up to 56 days on purchases (when you pay your balance in full and on time).
• No annual fee.

Check my eligibility See more details

Representative Example – If you spend £1,200 at a purchase interest rate of 14.9% p.a. (variable) your representative APR will be 14.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

The Metro business credit card has a lower APR compared to a lot of the other credit cards out there. The advertised APR is currently 14.9%, although if you have a lower credit rating, the rate will likely be higher.

The card can be used anywhere in the UK and throughout Europe and you won't be charged any foreign exchange fees. This is a handy perk to have if you regularly need to travel abroad. There are no annual fees either.

The major catch is that you have to also have a commercial or business bank account with Metro Bank in order to qualify for this card.

5. Santander Business Cashback Credit Card — Business Credit Card for Small Businesses

Santander’s business credit card is another option worth considering, especially if you travel abroad.

Santander Business Cashback Credit Card

Credit Limit

Subject to status

Representative % APR (variable)

23.7% APR

• 1% cashback on all business spend with no cap.
• No foreign transaction fees on purchases abroad when paying in the local currency.
• No interest charged if balance paid off in full and on time each month.

Check my eligibility See more details

Representative Example – If you spend £1,200 at a purchase interest rate of 18.9% p.a. (variable) your representative APR will be 23.7% APR (variable). Annual fee £30. Your APR and credit limit may vary depending on your circumstances.

If you choose this card, you'll need to pay an annual fee of £30, but this is much lower than many of its competitors. The card is essentially designed for small businesses as you can only have a total of 4 cards on a single business account. This limits accessibility to cards for larger businesses. 

Other perks of the card include that you can earn 1% unlimited cashback on spending. And there are no fees for using your card overseas, as long as you spend in the local currency.

Much like Metro Bank’s card, you will need to have a Santander business account in order to apply for the card.

6. Barclaycard Select Cashback Business Credit Card — Alternative Business Credit Card

If you fancy earning cashback, take a look at the Barclaycard Select Cashback Business Credit Card.

Barclaycard Select Cashback Business Credit Card

Credit Limit

Minimum £1,000

Representative % APR (variable)

27.5% APR

• Up to 56 days’ interest-free credit when you pay in full and on time.
• No annual fees for your card and account.
• Get 1% cashback uncapped on all your business spend.

Check my eligibility See more details

Representative Example – If you spend £1,200 at a purchase interest rate of 27.5% p.a. (variable) your representative APR will be 27.5% APR (variable). Your APR and credit limit may vary depending on your circumstances.

This credit card offers uncapped 1% cashback on spending as well as access to business rewards, including offers and discounts from selected suppliers and retailers. If you apply for the card, you'll also benefit from a FreshBooks accounting plan, helping to simplify your invoicing and expenses.

The card has no annual fee, but fees will apply if you're late with repayments or you use your card overseas.

7. RBS Business Plus Credit Card — Trusted Business Credit Cards Company

This card might be useful for your business if you currently use Business Banking with Royal Bank of Scotland (RBS) or if you want to make the jump.

RBS Business Plus Credit Card

Credit Limit

Minimum £500

Representative % APR (variable)

29% APR

• Up to 56 days interest-free credit period on purchases.
• No foreign transaction fees on purchases abroad.
• £70 annual fee per cardholder.

Check my eligibility See more details

Representative Example – If you spend £1,200 at a purchase interest rate of 13.9% p.a. (variable) your representative APR will be 29% APR (variable). Your APR and credit limit may vary depending on your circumstances.

For an annual fee of £70 (per cardholder), you get a low standard purchase rate of 13.9% APR (this could be higher, depending on your credit history), cashback on all purchases, and no foreign transaction fees if you use your card abroad.

A rate of 0.5% cashback is paid on everything you buy, but the rate rises to 1% on eligible travel and accommodation purchases, 2% on eligible trade and business supplies, and 3% on eligible fuel and electric vehicle charging stations. Cashback is limited to £600 a year. You can also benefit from merchant offers with the Business Savings scheme from Mastercard.

8. American Express Basic Charge Card — No-Frills Business Credit Card with Good Intro Offers

This might not be the best card in terms of rewards, but it's still worth looking at.

American Express Basic Charge Card

Credit Limit

None

Representative % APR (variable)

None

• No pre-set spending limit.
• No annual fee.
• No interest charges.

Check my eligibility See more details

You pay no interest fees with American Express Charge Cards if you pay your balance in full each month.

This basic credit card is precisely what it claims to be. Since it is a charge card, there is no restriction on how much you may spend; nevertheless, you must pay off your debt in full every month to avoid interest charges. There is no annual fee for the card.

On the other hand, the benefits are stingy by Amex's standards. There is no rewards programme to take advantage of, but you will be able to benefit from its 24-hour online business account management. This helps you track your spending and stay on top of your finances.

9. Juni Business Card with Credit — Popular for E-commerce

Take a look at the Juni card if you want a decent credit limit and the option to earn cashback.

Juni Business Card with Credit

Credit Line

Minimum 10k

Representative % APR (variable)

None

• Credit lines from £10k up to £2M upon eligibility.
• 37 to 60-day payment terms.
• 1% cashback on all eligible spend.

Check my eligibility See more details

Fees and interests apply in case of late payment only.

The Juni Business card enables you to earn cashback of up to 1% as you spend, with no caps. Credit limits range from £10,000 to £2 million and you can use the Juni dashboard to keep tabs on your money.

You can also instantly create virtual multi-currency cards in EUR, SEK and USD, enabling you to make purchases in the appropriate currency with your credit card and pay a maximum of 0.25% in foreign exchange costs.

10. Payhawk — Great business credit card for enterprises

When it comes down to it, Payhawk is best suited for bigger enterprises that want corporate credit cards with spending management capabilities.

Payhawk Business Credit Card

Credit Line

Up to 250k

Representative % APR (variable)

N/A

• Credit limits of up to £250K based on assessment.
• Access multi-currency credit lines in GBP and EUR.
• Simplify bulk card management.

Check my eligibility See more details

Fees and interests apply in case of late payment only.

Payhawk's main business is managing company expenses, but it's recently expanded into issuing corporate Visa credit cards. You could get access to a credit limit of up to £500,000 depending on your circumstances and you can access multi-currency credit lines in GBP and EUR. You can avoid foreign exchange fees on seven currencies, while other currencies have a low markup of 1.99%.

No personal credit checks are carried out if you want to apply for the card, and you won't need to sign a personal guarantee either. You'll be able to keep on top of your business spend via the app and set spending limits on employee cards.

Payhawk's Visa cards issued within the European Economic Area also come with free travel insurance for business trips.

What is a Business Credit Card? 

A business credit card works in a similar way to a personal credit card, but it's designed to be used by businesses. You'll be able to spend up to your set credit limit and then repay the amount borrowed in flexible monthly instalments. If you don't pay off the balance in full each month you will likely be charged interest.

Some business credit cards might offer 0% on spending for a set time, but this is more common with personal credit cards. Others might offer rewards such as cashback or offer discounts on travel, access to airport lounges, and discounts on events or travel insurance. However, credit cards that offer these rewards usually charge an annual fee.

Business credit cards can help you to pay for essential goods and services and can help your business to build a credit rating.

Leading Business Credit Cards for Small Businesses: The Verdict 

Overall, business credit cards can help you to boost your cash flow and, if used carefully, can help you to build a business credit score.

Despite these perks, there are many things you should consider before choosing a business credit card.

Before you apply, keep the following in mind:

• Only ever spend what you can comfortably afford to repay.
• Consider drawing up a budget to ensure you can meet monthly repayments.
• Unless your card has a 0% offer on spending, aim to clear the balance in full each month to avoid interest.
• If your card charges an annual fee, make sure the perks on offer are worth this fee.

Related Guides:

• What Are Business Credit Cards?
• How Many Credit Cards Can You Have?
• Best Business Credit Cards with No Credit Check
• Business Vs Personal Credit Cards
• How to Build Business Credit
• Best Business Credit Cards for Bad Credit
• Best Interest-Free Business Credit Cards