15 December 2017 : 

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Business Credit Cards

Business credit cards differ very little from personal credit cards, they are simply issued to a business rather than an individual. It can be a limited company or a sole trader (an individual cannot apply for a business card for personal use). There are several types of business cards, including traditional credit cards, charge cards (where the balance must be paid every month), prepaid business cards (where only funds preloaded onto the card can be spent), or airmile cards geared towards business travellers (where airmile points can be earned and redeemed). A business can apply for these cards regardless of whether they are a big or a small company - applying for more than one card if they wish. Many businesses find these to be a useful way of tracking company spends and allocating budgets. Compare some of the best UK Business credit cards to find the right card for your business.



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Product Name Setup Cost Fee Rewards &
Offers
Representative
APR (variable)
 
Capital on Tap Business MasterCard Product Details
Representative Example: The Standard interest rate on purchases is 19.2% p.a. (variable), so if you borrow £1,200 the representative APR will be 39.4% APR (variable)
Capital on Tap Business MasterCard  Apply
 
CardOneBanking Business  AccountProduct Details
Prepaid Card: All funds must be loaded onto the card before use
CardOneBanking Business  Account Apply
 
Amex Platinum Business Card  Product Details
Charge Card: Full balance must be paid at the end of every month
Amex Platinum Business Card   Apply
 
Amex British Airways  Premium PlusProduct Details
Representative Example: Representative 76.0% APR (variable). Based on an annual fee of £195, a credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Amex British Airways  Premium Plus Apply
 
Cashplus Business  Expense CardProduct Details
Prepaid Card: All funds must be loaded onto the card before use
Cashplus Business  Expense Card Apply
 

compareandsave.com is a trading name of Freedom Marketing Ltd. Freedom Marketing Ltd is a credit broker, not a lender and is authorised and regulated by the Financial Conduct Authority, firm reference number 493117.

The offers that appear on this site are from companies from which compareandsave.com receives compensation. compareandsave.com does not include the entire universe of available financial or credit offers.

This table comprises credit cards designed for business spending ordered by business specific features (ie. cashback, balance transfers) and then by APR.Table position does not imply product strength or superiority. Please ensure you have thoroughly investigated all available options before applying for products.

 

Can any business apply for a Business Credit Card?

As with personal credit cards; all issuers will have their own specific eligibility criteria – For instance, some issuers will only consider limited companies, whilst others will consider sole traders. Some issuers may require businesses to have a certain annual turnover, or proof that they have been trading for a minimum amount of time. Equally (again, like personal credit cards) business credit cards offer different features and benefits which will appeal to different types of businesses with differing needs. It is always worthwhile doing some research to find the right card for your business.

Do Business Credit Cards incur an annual fee?

Many business credit cards do incur a fee, but some don’t – compare cards thoroughly to understand whether you can access the benefits you want for less.

Can my credit score affect the Business credit Card application?

Some business credit card providers may check a personal credit score which might affect the outcome of any applications. However, a good business score tends to get better interest rates or benefits.

Why do Businesses get a Credit Card?

This will depend on the type of business, but most of the business credit cards have some of these similar benefits:

  • A high spending limit and in some cases, no limit at all. This can boost the purchasing ability of the company.
  • Employee benefits including free worldwide travel and medical insurance, hotel discounts, upgrades and concierge services.
  • Simplified expense tracking - Some even offer online portals where spending can be accessed immediately. They can also negate the need for ‘petty cash’ within some companies.
  • Supplementary credit cards to employees, allowing the employer to set spending limits on the additional cards.
  • Discount and reward schemes entitling companies to receive discounts on things like office supplies or flights and may for instance earn Airmile reward points.
  • Fraud protection and even Cardholder Misuse Insurance to protect the business in case some employees misuse their credit cards.

What is the best Business Credit Card to have?

When looking for a Business credit card it is important to compare different products to find the right one for your business. If your business regularly spends a lot on the card but clears it’s balance each month, maybe a charge card, a rewards card or a cashback card would be more beneficial to the company. Compare some of the UK’s best business credit cards and get the most appropriate deal for you and your business.



 Compare Credit Cards by Issuer

American Express Credit Cards American Express
Aqua Credit Cards Aqua Credit Cards
Barclaycard Credit Cards Barclaycard
Bank of Scotland Credit Cards Bank of Scotland
Capital One Credit Cards Capital One
Halifax Credit Cards Halifax
Lloyds Bank Credit Cards Lloyds Bank
MBNA Credit Cards MBNA
Nationwide Credit Cards Nationwide
NatWest Credit Cards Natwest
Royal Bank of Scotland Credit Cards Royal Bank of Scotland
Sainsbury's Bank Credit Cards Sainsbury's Bank
Santander Credit Cards Santander
Tesco Bank Credit Cards Tesco Bank
TSB Credit Cards TSB Credit Cards
Vanquis Credit Cards Vanquis
Virgin Money Credit Cards Virgin Money


 
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.

Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
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©2017 compareandsave.com is a trading name of Freedom Marketing Ltd.
Freedom Marketing Ltd is a credit broker, not a lender and is authorised and regulated by the Financial Conduct Authority, firm reference number 493117. This can be checked at http://www.fca.org.uk/register. Registered in England & Wales under registration number 05349340. The company's registered office is Freedom Marketing Limited, Colchester Centre, Hawkins Road, Colchester, Essex, United Kingdom, CO2 8JX.

The offers that appear on this site are from companies from which compareandsave.com receives compensation.

The Financial Ombudsman Service (FOS) is an agency for arbitrating unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.