All Credit Cards
Clydesdale Bank Business Card
Up to 59 days' interest free credit on purchases. Anti-fraud technology, chip and PIN cards, and Mastercard® SecureCode™ as standard make it a secure way to manage cash flow. View reports online and help protect your business from fraud. No annual fee to pay for the first year.
HSBC Commercial Card
Up to 56 days' interest-free credit. No annual fee for a year. Contactless payment. Allows you to separate your business and personal spending. Additional cards available for employees. Flexible repayment terms.
Lloyds Bank Business Credit Card Ex/C
Get up to 45 days' interest-free credit on sterling purchases if you pay your balances in full and on time on your previous and latest statements. Pay an annual fee of just £32 per card. Withdraw up to £500 per day within the limit. Benefit from flexible repayment options and detailed monthly statements for each card issued. Use the card in millions of outlets worldwide where the Mastercard sign is displayed. Cash withdrawals: 2.5% handling fee (min £2.50), Non-Sterling transaction fee: 2.95%.
Advantages of business credit cards
Business credit cards, when used responsibly and managed effectively, can be a flexible and convenient way to borrow money. Aside from their convenience, one of the main benefits is that it can be used to make purchases in the name of your company rather than of the individual business owner.
You can improve your businesses’ cash flow because you can spend even when you are still waiting for incoming funds. They can also help keep your personal finances separate from your business' funds.
Credit cards are widely accepted and offer extra protection when you spend in the UK and abroad. No matter how big your business currently is, you can take out a business credit card to run the finances of the company. However, some cards are only available to businesses with minimum or maximum annual turnover.
Although they are similar to other credit cards, a business credit card will look into your company’s assets, credit history and what they think your business can afford before deciding whether to offer you one. They will also use this information to decide on the credit limit they offer you.
The best business credit card deal depends on your company’s financial situation, how regularly you can pay back the balance and how you want to use it.
FAQs about business credit cards
How do business credit cards work?
When you pay for something on a credit card you're effectively borrowing money. If you repay your balance in full each month, no interest will be charged. However, if you’re only able to make the minimum payment then you will also be charged interest.
Which type of business credit card is right for me?
Choosing the right credit card deal will depend on your company’s financial situation, how regularly you can pay back the balance and how you want to use it.
What will my credit limit be?
Your provider will determine what your credit limit will be based on your company’s assets, credit history and what they think your business can afford. If your business has a good credit history, you will likely be offered a higher credit limit as well as a lower interest rate.
What can I use a business credit card for?
You can use a business credit card for any business purchases, such as office supplies, paying invoices or for business expenses when you’re travelling.
Do I need a business current account to apply for a business credit card?
No, you’re not required to have a business current account, but having one could make it easier to handle your business finances.
What charges will I have to pay on a business credit card?
The main costs of a business credit card are the annual fees, interest rate and financial penalties if you go over your credit limit.
Will providers check my personal credit record?
Credit card providers will usually check your business' credit record, but if you’re a sole trader they may also check your personal records.
Will using a business credit card affect my personal credit record?
No, your business' credit card usage shouldn’t show up on your personal credit record.
Can several employees have their own card?
Yes, you can get multiple credit cards all linked to one account so that your employees can use their own card when travelling on business trips.