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<Credit cards

Business credit cards

Find the right credit card for your business

A business credit can offer a useful way to manage cash flow, streamline employee spending and simplify accounting

Get a business credit card

Compare business credit cards and choose the right one for you
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Author
Kyle Eaton
Editor
Lucinda O'Brien
Last updated
June 27th, 2024
4 results found, sorted by affiliated products first. Commission earned affects the table's sort order.
0.5% cashback, up to £400 a year*

Barclaycard Premium Plus Credit Card

Purchases
20.2%p.a. variable
Annual fee
£150
Representative APR (variable)
56.8%APR
Representative example:
When you spend £1,200 at a purchase rate of 20.2% (variable) p.a. with a fee of £150 per annum, your representative rate is 56.8% APR (variable).
More Information
Additional information
*Cashback T&Cs apply. The approval of your application depends on your financial circumstances and borrowing history, so do the term you may be offered.
Additional information
0% for 6 months, reverting to 20.2% p.a. variable.
Get 1% cashback uncapped*

Barclaycard Select Cashback Business Credit Card

Purchases
27.5%p.a. variable
Annual fee
£0
Representative APR (variable)
27.5%APR
Representative example:
The standard interest rate on purchases is 27.5% p.a. (variable), so if you borrow £1,200 the Representative APR will be 27.5% APR (variable).
More Information
Additional information
Get 1% cashback uncapped* on all your business spending and no annual fees for your card or account. *T&Cs apply.
2% cashback for 3 months and 10,000 bonus points

Capital on Tap Business Rewards Card

Purchases
35.15%p.a. variable
Annual fee
£99
Representative APR (variable)
35.15%APR
Representative example:
Representative rate is 35.15% APR (variable).
More Information
Additional information
Get 2% cashback on all card spend for the first 3 months or to a limit of £20,000 spend (total cashback capped at £400) and then 1% thereafter. 10,000 bonus points also available! Earn 1 point for every £1 of card spend. Redeem 1 point for 1p (1% cashback), e-gift cards or Avios. Free UK ATM withdrawals and no FX fees. £99 annual fee. Available to limited companies and limited liability partnerships. T&Cs apply.
Additional information
Available to limited companies and limited liability partnerships.
2% cashback up to £400" for the Business Credit Card

Capital on Tap Business Credit Card

Purchases
35.15%p.a. variable
Annual fee
£0
Representative APR (variable)
35.15%APR
Representative example:
Representative rate is 35.15% APR (variable).
More Information
Additional information
Get 2% cashback on all card spend for the first 3 months or to a limit of £20,000 spend (total cashback capped at £400) and then 1% thereafter. Earn 1 point for every £1 of card spend. Redeem 1 point for 1p (1% cashback), e-gift cards or Avios. Free UK ATM withdrawals and no FX fees. T&Cs apply. Available to limited companies and limited liability partnerships. T&Cs apply.
Additional information
No monthly or annual fees, free UK ATM withdrawals and 0% commission on FX. Available to limited companies and LLPs. T&Cs apply.

What is a business credit card?

Financial products that can help my plumbing business

A business or corporate credit card can be a helpful tool in managing your business' cash flow, simplifying accounting and making it easier to buy what you need, when you need it.

Just like with personal credit cards, a business credit card will have a pre-arranged limit available to spend. There are several types of cards available - from purchase and balance transfer cards to rewards cards - so it's a good idea to look around to find the right card for your business.

Why use a business credit card?

Business credit cards can be a useful way of keeping track of your company's spending, paying for expenses and having access to short-term credit if needed.

Similar to the way you would use a personal credit card, business credit cards allow you to spend now and pay off the money you spend later. But if you don’t pay off the balance in full each month, you will usually be charged interest. 

The credit limit amount available will be based on the business' status and accounts.

Things to consider with company credit cards

There are a few important criteria to consider when choosing the best business credit card for you:

Do you need supplementary business credit cards?

If you want to give additional cards to employees, it’s worth checking if there are any charges for adding supplementary cards or a limit to the number you can have. Also check if you can set your own credit limit on each card.

What credit limit do you need?

Think about how much you can realistically afford to repay and the maximum amount your business is likely to need to spend in a month. Even if you're offered a higher credit limit, don't be tempted to accept it if you’ll struggle to pay it back each month.

How much can you afford to borrow?

Most business credit cards will charge high rates of interest if you don't pay off your balance in full each month. Best used for short-term credit, it’s vital that you make at least the minimum monthly repayment. Failure to do so will result in late payment fees, affecting your business credit rating.

Will you have to pay an annual fee?

Many business credit cards charge an annual or monthly fee, so consider whether the benefits on offer are worth this cost. It's also worth looking around as fees will differ.

Are you hoping for credit card protection for purchases?

Section 75 protections are part of the Consumer Credit Act 1974 and apply to individual consumers only, not to businesses. If you use a personal credit card for a business expense and claim it back through an expenses claim, it might be covered, depending on the circumstances.

Types of business credit cards

Business overdrafts

Like personal credit cards, there are different types of business credit cards that can be helpful depending on what you're looking to do with it.

Purchase - If you're looking for business credit card to make some up-front purchases or to help manage cash flow, it might be worth considering a purchase card. You can often find introductory interest-free periods on purchases.

Balance transfer - If you're paying monthly interest on an existing business credit card then it might be worth considering a balance transfer. This type of card allows you to transfer a balance from an old card, for a fee, to a new card with 0% interest period. This can help you pay off the debt quicker.

Rewards - A type of business credit card that provides perks on purchases, sometimes for a fee. The perks can range from airmiles to cashback.

Advantages of a business credit card

Interest-free credit and cash flow management

  • Get up to 56 days’ interest-free credit helps spread business expenses and improve cash flow.

  • Paying off the balance within a month keeps the company’s bank balance available for emergencies.

High credit limits and responsible spending

  • High credit limits boost purchasing power.

  • It’s important to only spend what can be repaid to avoid hefty interest charges.

Convenient purchasing and expense management

  • Simplifies online and phone purchases.

  • Limits payments to the company credit card, reducing the need for employees to collect and file receipts.

Travel benefits and insurance

  • Useful for employee travel and client meetings.

  • Offers perks like preferential exchange rates, free worldwide travel, medical insurance, hotel discounts, upgrades, and concierge services.

Rewards and staff incentives

  • Spending on the card can earn rewards.

  • Use rewards schemes to treat staff with weekend breaks or other incentives.

Other benefits of a company credit card

Using a business credit card can simplify your business finances by providing a monthly statement that consolidates all expenses, accessible online or through an app. This reduces the need for petty cash, as supplementary cards can be issued to employees with personalized spending limits, making expense tracking easier.

Business credit cards also offer fraud protection, ensuring you’re not liable for unauthorised charges if reported promptly. Some cards include Cardholder Misuse Insurance to protect against employee misuse. Additionally, many cards offer discounts and rewards, from flight deals to office supplies, and can earn points like airmiles or Nectar points, allowing you to reward staff without extra spending.

Ultimately, the best business credit card depends on your company’s needs. While some businesses prefer to manage expenses directly, a wisely used business credit card can be a valuable financial tool.

About the author

Author imageKyle Eaton
Kyle Eaton
Kyle Eaton is a content editor for Uswitch. He has worked in the financial services industry for over 10 years and specialises in products and services for small businesses.

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