What are the Best Business Credit Cards in 2024?

Compare the leading business credit cards for UK small businesses.

Updated: May 26, 2024
Matt Crabtree

Written By

Matt Crabtree

|
Rachel Wait

Edited By

Rachel Wait

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What are the Best Business Credit Cards in 2024?

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. To choose the best credit card for your business, you'll need to look at what the card offers and also what its interest rates are and any other fees that apply.

It may offer credit card rewards, such as cashback or discounts on travel, which can be a nice perk. However, business credit cards only work if you're able to pay them off on time otherwise the interest and fees will wipe out any benefits.

In this article, I’ll look at how business cards work and pick the best business credit cards in the UK.

What is a business credit card? 

A business credit card works in a similar way to a personal credit card, but it's specifically for businesses. It can provide companies with a line of credit up to a set limit and can be used to make purchases.

You'll usually repay the amount borrowed in 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 discounts on travel, access to airport lounges, discounts on events or travel insurance. However, credit cards that offer these rewards usually charge an annual fee.

What are the benefits of a business credit card?

Business credit cards can be really beneficial to companies of any size, if used correctly. Cash-back business credit cards, for example, effectively pay you just for using them.

With a business credit card, you’ll usually have a higher credit limit than with a personal credit card, giving you more access to cash if you need it.

The perks are also attractive, such as cashback and discounts, and using one makes it easy to track spending within your company. Just make sure you look for one with the best interest rate, so you’re not spending more than you need to.

Business credit card eligibility check: Who can get a business credit card?

There’s a huge range of business credit cards available for companies of all different shapes and sizes. 

The eligibility will depend on the card provider and the specific card. Some cards, for example, may only be for companies who have been operating for a set number of years. Other credit card providers may set a limit on a business's overall profit. 

However, it is a competitive market and you should be able to find a card that’s right for you, as long as your business is registered. Some cards allow you to check your eligibility before you apply, such as Capital on Tap. This will give you an idea of how likely it is that you’ll be accepted for a card or not. 

For more information see our guide on how to get a business credit card. 

How do business credit cards work?

Business credit cards are similar to personal credit cards. Once you have one, you can spend up to the given credit limit.

The benefit of a credit card for a company is using it to pay for unexpected expenses, to spread the cost of big purchases, or to help with cash flow problems.

The credit card provider will look at your company’s credit file when you apply, which means your personal credit score should not be affected and you may have access to a larger credit limit.

You will also have to repay the card every month – or in most cases, you’ll be charged interest. Each month you’ll be sent a bill showing how much you need to repay. Unless you have a credit card that is set at 0% interest, you’ll pay a set amount of interest on any money outstanding. 

There may also be an annual or monthly fee for using the card.

Types of business credit cards:

There are lots of business credit cards to choose from, and the right one for you will depend on the type and size of your business. You can choose from the following cards:

  • Rewards: every time you use a rewards business credit card, you’ll earn points or cashback. There will be limits on what you can earn rewards for and usually a limit to how much you can earn. There may also be a higher annual fee or interest rates. Therefore these cards are only beneficial if you’re able to repay the card in full each month. Also, check that the rewards you’re earning are higher than the fee you’re paying to use the card.
  • Frequent flyer: Several credit card providers offer points for flights and discounts on travel, every time you spend on them. These may be linked to a specific airline or travel company. If you travel regularly, these cards can be a good way to offset travel costs. They usually have higher interest rates and often have annual fees, so make sure the benefits outweigh the costs.
  • Travel: If you travel a lot with your company, a credit card with low foreign transaction fees is a great choice. Most travel cards have free foreign spending, and some also offer fee-free withdrawals, although you’ll be charged interest from when you take out the money.
  • Bad credit: even if your company has a bad credit score, you may still be able to borrow money with one of these cards. The interest rates are usually higher than standard business credit cards. If you can consistently use the card and pay it off on time, this can help to rebuild your company’s credit file.
  • 0% purchase: If you need to make a big purchase, a 0% purchase credit card can help you to spread the cost for your business. When the 0% period ends, you'll be charged interest on anything outstanding on the card.
  • Low interest: Some cards offer a consistently low-interest credit card rate, which can help you to budget. Instead of a 0% rate and then a high-interest rate, you know exactly where you stand with these cards, just as long as you keep up with repayments on time.

Best business credit cards comparison

Here I've picked out 10 of the best business credit cards on the market. However, your best business credit card will depend on the nature and size of your business, and also the reason for taking out a credit card.

For example, Avios business credit cards are useful if you travel frequently and can reward you with points you can put towards flights. While a 0% card might be a good idea if you have a big business purchase to make.

Before you pick a card, take a look at our pick of those with the best interest rates, and keep an eye on extra fees and charges too.

Card NameMin APRAnnual FeeLimitCashback
1. Capital on Tap Business Credit CardAs low as 15.5%From £0Up to £250,0001%
2. Moss Business Credit CardSubject to statusNoneUp to £2.5 millionOn high transactions only
3. American Express Business Gold CardNone£195NoneNone
4. Metro Bank Business Credit Card18.9%NoneFrom £500None
5. Santander Business Cashback Credit Card23.7%£30Subject to status1%
6. Barclaycard Select Cashback Business Credit Card27.5%NoneFrom £1,0001%
7. RBS Business Plus Credit Card29%£70From £5000.5%-3%
8. American Express Basic Charge CardNoneNoneNoneNone
9. Juni Business Card With CreditNoneNoneUp to £2 million1%
10. Payhawk Business Credit CardNoneNoneUp to £250,0001.5%

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 and I've picked it because:

  • It has a low APR
  • No annual fees
  • You can earn 1% cashback on purchases
  • editors choice

    Capital on Tap Business Credit Card

    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.

    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.

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 program 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.

Alongside its financial benefits, the Capital on Tap card integrates directly with accounting software, easing the administrative burden.

Its real-time tracking features simplify expense management, offering a clear overview of company spending patterns. The option to create virtual cards instantly is also a significant advantage for immediate financial needs.

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.

Pros

✔️ Uncapped 1% cashback with no annual fee.

✔️ Unlimited free company cards.

✔️ Up to 42 days interest-free.

Cons

❌ Fairly limited eligibility for small business owners.

❌ You need to pay an annual fee to access the enhanced rewards.

❌ Variable APR could cause higher rates for some people.

Read More: Capital On Tap Review

2. Moss Business Credit Card: My Second Choice for Best Business Credit Card

Next on our list, I've chosen the Moss Corporate card, which is actually a charge card, rather than a business credit card. This means you must repay the balance in full every month – it can't be carried over into the following month as it can with a credit card. Here are three key points:

  • You can choose a credit or debit card
  • The Moss dashboard is easy to use
  • It's a useful tool for budgeting because it's a charge card

Moss Business Credit Card

Moss Business Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
Subject to status
  • High limits of up to £2.5 million per month.
  • Create and customise cards with just a few clicks.
  • Adjust specific card limits as you go.

The intelligent credit card with flexible payment terms. Your APR and credit limit may vary depending on your circumstances.

As with all the options on this list, though, it’s mainly aimed towards small and medium-sized enterprises (SMEs) and helping them manage some of their business expenses.

Having said that, an extra feature that comes with Moss is the ability to select either a debit or credit card, which is fairly uncommon among some of the other options here.

When it comes to managing your account, you're able to do so directly from your Moss dashboard, where you can keep on top of how much credit you currently have available. There is a maximum monthly credit limit of approximately £2.5 million, but this depends on the size/creditworthiness of your business.

Unfortunately, though, you have to have a fairly high transaction volume before you're able to start earning any kind of cashback, so this might not be the most appropriate card if you're a start-up company that doesn't anticipate spending substantial amounts of cash any time soon.

The Moss Business Credit Card offers enhanced financial oversight with real-time transaction tracking and flexible card controls. Managers can easily adjust spending limits and approve card requests quickly, ensuring funds are used appropriately.

Additionally, Moss simplifies receipt management by automatically fetching and matching receipts to transactions, greatly reducing administrative overhead.

Its seamless integration with accounting software automates pre-accounting tasks, enabling month-end processes to be more efficient.

Pros

✔️ Create and customise cards with just a few clicks.

✔️ Adjust specific card limits as you go.

✔️ High limits of up to £2.5 million per month.

Cons

❌ Mainly only suitable for SMEs.

❌ Limited cashback benefits for start-ups.

❌ High transaction volume required for cashback.

3. American Express Business Gold Card: My Top Pick for a Rewards Business Credit Card

The American Express (AMEX) Business Gold Card has an annual fee that is pretty low for the business industry. Three of its key features include:

  • No annual fee for the first year (but you will pay £195 after this time)
  • Great benefit scheme including points off travel spending
  • Easy to use app where you can manage employee credit limits

American Express Business Gold Card

American Express Business Gold Card
Credit Limit
None
Representative % APR (variable)
None
  • Annual fee £195 (£0 in the first year).
  • Membership Rewards® points.
  • Up to 99 complimentary Employee Cards.

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.

The AMEX Gold Card offers up to 54 days of payment flexibility on purchases, providing significant leeway in cash flow management, essential for businesses adjusting to market conditions.

For those looking to maximise rewards, the card offers 20,000 bonus Membership Rewards® points for spending £3,000 in the first three months.

Furthermore, the potential to earn extra points on travel purchases and quarterly bonuses when you reach spending thresholds helps ensure that every pound spent not only contributes to your business operations but also to future savings and rewards.

Pros

✔️ Membership Rewards® points.

✔️ Up to 99 complimentary Employee Cards.

✔️ Relatively decent annual fee at £195 (though it's £0 in the first year).

Cons

❌ Limited to American Express travel site for double rewards.

❌ You'll need to upgrade your plan if you want extra cards for any of your employees.

❌ The fee free period only lasts one year.

4. Metro Bank Business Credit Card: My Top Pick for a Low APR Business Credit Card

If you’re local or loyal to Metro Bank, its business credit card is another great choice. Its three top points include:

  • Low APR
  • No foreign exchange fees
  • No annual fees

Metro Bank Business Credit Card

Metro Bank Business Credit Card
Credit Limit
Minimum £500
Representative % APR (variable)
18.9% 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.

Representative Example – If you spend £1,200 at a purchase interest rate of 17.44% p.a. (variable) your representative APR will be 18.9% 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 18.9%, 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 currency 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.

The Metro Bank Business Credit Card also stands out for its immediate card issuance feature, allowing cardholders to walk out of any branch with a functional card on the same day—a particularly useful benefit for urgent financial needs.

The card is well-regarded in the industry, having received multiple awards for its user-focused design and cost efficiency.

This makes it a practical choice for businesses that value straightforward, award-winning banking solutions with the added convenience of comprehensive in-branch support.

Pros

✔️ Interest-free period up to 56 days on purchases (when you pay your balance in full and on time).

✔️ No yearly charge.

✔️ Free transactions in Europe.

Cons

❌ Limited international acceptance beyond Europe.

❌ Higher APR for lower credit ratings.

❌ Limited eligibility since it requires a Metro Bank business account.

5. Santander Business Cashback Credit Card: Good Business Credit Card for Small Businesses

Santander’s business credit card is another option worth considering, especially if you travel abroad. Here are three of its top features:

  • 1% unlimited cashback on spending
  • No overseas fees (if you spend in the local currency)
  • Low annual fee of £30

Santander Business Cashback Credit Card

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.

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.

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

The Santander Business Cashback Credit Card offers practical financial benefits for those who take business trips abroad, including no foreign transaction fees on purchases when you spend in the local currency.

However, it's important to note that cash transactions abroad still incur a charge, specifically a 3% cash transaction fee (minimum £3).

With up to 56 days of interest-free purchases, this card also helps manage cash flow effectively by allowing businesses time to clear balances without accruing interest, provided the full balance is paid on time.

Pros

✔️ No foreign transaction fees on purchases abroad when paying in the local currency.

✔️ No interest is charged if the balance is paid off in full and on time each month.

✔️ 1% cashback on all business spending with no cap.

Cons

❌ You need to already have a Santander business account.

❌ Potential variability in APR and credit limit.

❌ Limited number of cards per business account.

6. Barclaycard Select Cashback Business Credit Card: Best Alternative Business Credit Card

If you fancy earning cashback, take a look at the Barclaycard Select Cashback Business Credit Card. Its top features include:

  • Unlimited 1% cashback on spending
  • Generous reward scheme
  • Access to the FreshBooks accounting plan

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.

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.

In addition to providing unlimited 1% cashback on all spending, the Barclaycard Select Cashback Business Credit Card is structured to keep extra costs manageable.

For international use, it includes a non-sterling transaction fee of 2.99% and a cash transaction fee of 3%, with a minimum charge of £3.

The Barclaycard Select Cashback Business Credit Card also provides detailed transaction management capabilities. This includes digital tools for real-time expense monitoring and easy receipt management, which is especially beneficial for businesses looking to streamline their accounting practices.

Furthermore, the card's security measures ensure safe transactions both domestically and abroad, coupled with customer support that's available around the clock to assist with any queries or issues that might arise

Pros

✔️ No annual fees for your card and account.

✔️ Get 1% cashback uncapped on all your business spend.

✔️ Up to 56 days’ interest-free credit when you pay in full and on time.

Cons

❌ Variable APR depending on your circumstances.

❌ Quite high fees for late payment fees.

❌ High purchase interest rate.

7. RBS Business Plus Credit Card: Most Trusted Business Credit Card

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. Here are its top features:

  • Trusted organisation
  • Low APR
  • Generous cashback programme

RBS Business Plus Credit Card

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.

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.

The RBS Business Plus Credit Card also provides flexible payment terms that can help manage your business’s spending effectively.

With tools like the ClearSpend app, you can easily monitor your expenditures and adjust your budget on the go. This card has earned a strong reputation among business users for its straightforward benefits and practicality in everyday use.

Whether you're covering daily expenses or planning for bigger projects, this card keeps things simple, giving you clear insights and control over your finances.

Pros

✔️ No foreign transaction fees on purchases abroad.

✔️ £70 annual fee per cardholder.

✔️ Up to 56 days interest-free credit period on purchases.

Cons

❌ Rates for cashback will vary.

❌ Annual fee required unlike some of the other options that we've already covered.

❌ Limited cashback cap.

8. American Express Basic Charge Card: Best No-Frills Business Credit Card

This might not be the best card in terms of rewards, but it's still worth looking at. Here are three key points:

  • A basic credit that's easy to use
  • A charge card which can help with budgeting
  • No annual fee

American Express Basic Charge Card

American Express Basic Charge Card
Credit Limit
None
Representative % APR (variable)
None
  • No pre-set spending limit.
  • No annual fee.
  • No interest charges.

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 program 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.

Adding the American Express Basic Charge Card to your business financial toolkit simplifies managing your finances, with no hidden fees that often accompany reward-heavy cards.

This straightforward card ensures you can focus on running your business without worrying about accruing extra costs.

Additionally, the card offers the flexibility of no preset spending limits, giving you the breathing room needed for larger business expenditures as determined by your payment history and credit record.

Pros

✔️ No annual fee.

✔️ No interest charges.

✔️ No pre-set spending limit.

Cons

❌ No rewards.

❌ No flexibility in paying off debt.

❌ Limited benefits.

9. Juni Business Card With Credit: Best for E-commerce firms

Take a look at the Juni card if you want a decent credit limit and the option to earn cashback. Here are three key features:

  • Cashback available on spending
  • High credit limits
  • Easy to use dashboard

Juni Business Card With Credit

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.

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.

Beyond its essential cashback and high credit limit features, the Juni Business Card With Credit also excels in its integration capabilities with major e-commerce platforms like Amazon and Shopify, making it a formidable tool for digital businesses.

The ability to manage all ad spending and streamline financial transactions from one dashboard, coupled with automated receipt management, simplifies the financial operations of fast-paced online businesses.

This suite of features ensures that e-commerce firms not only keep up with the demands of digital commerce but also leverage financial tools to scale efficiently and effectively.

Pros

✔️ 1% cashback on all eligible spending.

✔️ 37 to 60-day payment terms.

✔️ Credit lines from £10k up to £2M upon eligibility.

Cons

❌ Lack of detailed rewards structure.

❌ Potential high credit limits (possibility for overspending).

❌ Limited currency options.

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. Here are three key points:

  • Handy for managing business expenses
  • Free foreign exchange fees with some currencies
  • No personal credit card checks

Payhawk Business Credit Card

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.

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 £250,000 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.

Pros

✔️ Credit limits of up to £250K based on assessment.

✔️ Access multi-currency credit lines in GBP and EUR.

✔️ Simplify bulk card management.

Cons

❌ Potential currency markup.

❌ They're mainly only European based.

❌ No personal credit history building.

Summary

ProviderScoreDetails
1. Capital on Tap★★★★★Click Here
2. Moss★★★★★Click Here
3. American Express★★★★Click Here
4. Metro Bank★★★★Click Here
5. Santander★★★★Click Here
6. Barclaycard★★★★Click Here
7. RBS★★★★Click Here
8. American Express★★★★★Click Here
9. Juni★★★★★Click Here
10. Payhawk★★★★★Click Here

Our 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.

My top pick is the Capital on Tap card and it has a great cashback scheme, but if you are looking for travel perks, the American Express card might be a better option.

It's also worth remembering that despite the perks offered with these cards, there are many things you should consider before choosing one.

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% interest-free period 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.

Best start-up and small business credit cards

If you’re a relatively small business, cash flow can often be a problem, especially when you’re looking to pay for new staff or equipment. This is where a business credit card can be a handy financial tool. 

Many credit cards designed specifically for small businesses have set limits on how much a company can earn. They may also accept businesses with lower credit scores, or those that have not built up much of a credit profile.

How to apply and get a business credit card?

Once you’ve found a business credit card that suits your company, it’s time to apply. The credit card provider will list its eligibility requirements on its website – such as earning a certain amount per year and being in operation for a set period of years. You can find out more in our guide to how to qualify for small business credit cards. If you meet these, you can apply. 

To apply you will usually need the following documents:

  • Contact details (of you and your company)
  • Proof of your ID, such as a driving licence or passport
  • Business finances: you may need to provide annual statements and show your regular outgoings and expenses plus any outstanding debts
  • Tax details: you may need to supply a tax return
  • Cardholders: details of any additional cardholders for the credit card

You can find more details in our how to get a credit card guide.

Business credit card vs Personal credit card

Business and personal credit cards work in similar ways, they both give you a limit of money to spend, and both require you to pay this back – plus interest. They both also have a range of options, from cashback cards to bad credit cards.

However, there are some key differences. A business credit card, is designed for a business to use, and has a range of extra features which wouldn’t be needed for personal use. These include additional cards for employees, larger credit limits, and tools for accounting.

Business Credit Cards: Top Questions Answered

Before you apply for a business credit card, here are some of the most popular questions we’ve been asked about them. 

What’s the easiest business credit card to get?

Some of the easiest business credit cards to get include those which you can apply for online or via a banking app. These are easier because they are usually quicker, from the moment you apply to the moment you can start using a card. They may also require less paperwork from you for the card to be approved.

Do business credit cards have protection and proper security?

Business credit card providers have to follow strict rules, as set out by the Financial Conduct Authority (FCA). However, they do not provide the same level of protection as personal credit cards, which under Section 75 of the Consumer Credit Act offer protection on anything bought which is worth between £1 and £30,000.

Can I get instant approval on business cards?

It is possible to apply for an instant approval business card, which as the name suggests tells you straight away if you're successful or not. This means you'll know very soon after applying if you have been approved for the credit card or not.

Are there tax benefits associated with using a business credit card?

Absolutely, and that's normally down to how much owning a business credit card can simplify tax filing when you're running a business. Naturally, you'll have all of the card statements available to you already, so this serves as documentation, which makes it way easier to track your deductible expenses. Ultimately, this can potentially save you a lot of time during tax season.

What is the significance of a business credit card's credit limit?

Put simply, your credit limit is essentially the maximum amount that you'll be able to borrow for either a bank or building society. So, it's fairly crucial for you to choose a card with a suitable limit that can handle all of your business's needs — higher limits come with more flexibility, but then you have to worry about spending responsibly so you're able to swerve any potential debt challenges.

Can a business credit card be used for international transactions?

Yes, many business credit cards offer global acceptance and might even come with features like no foreign transaction fees, which definitely makes them one of the more convenient/cost-effective options for any businesses that focus mostly on international transactions — giving them a pretty seamless way of managing all the extra costs across borders.

Are there specific industries that benefit more from business credit cards?

While business credit cards tend to benefit most industries, those who have a lot of business-related expenses — things like travel, dining, and supplies, for instance — would generally gain a lot more from all of the rewards programs. Additionally, any business that needs employee cards for ongoing expenditures can use the expense control features of whichever card you choose to handle costs.

How do business and personal credit cards differ?

Business credit cards typically offer higher limits and rewards tailored for company spending, and they can help build a credit profile for your business.

Can new businesses get a credit card?

Yes, start-ups may be eligible for business credit cards, with many issuers catering to new businesses with potential, despite a lack of extensive credit history.

What are the risks of using business credit cards?

If not managed properly, business credit cards can lead to debt due to high interest, and they may pose the risk of overspending by employees.

What should I consider when choosing a business credit card?

Look at the card's APR, fees, credit limit, and rewards, and ensure they align with your business requirements and spending patterns.

Will using a business credit card affect my credit score?

Business credit card activity may impact your credit score if the card issuer reports to personal credit bureaus or if you've provided a personal guarantee when applying for the card.

Can I use my business credit card for personal expenses?

It's not recommended to use a business credit card for personal expenses, as it can complicate accounting, tax filing, and might breach the card's terms of use.

How can a business credit card help me manage cash flow?

A business credit card allows you to defer payments for goods and services, providing a buffer to manage cash flow, especially when awaiting customer payments.

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