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Business credit cards

Compare the best business credit cards

Our chart below can help you to find the best business credit cards. 

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Best Business Credit Cards

Best Business Credit Cards

We found 16 products in total, of which 2 have links to providers.

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Selecting ‘Provider Links First’ brings all products that you can apply for directly via Moneyfacts to the top of the chart in rate order. Products that do not have an ‘Go To Provider's Site’ button will appear below, again in rate order. Selecting ‘Rate’ will change the chart to list all products in rate order. Products that have ‘Go To Provider's Site’ links will still be in the list but in rate position.

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  • Barclaycard Payments Barclaycard Select Cashback Business Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    27.5%
    Additional Information
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    1% cashback on business spend
    £12 late payment fee applies
    No annual or usage fees
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 27.5% variable per annum for purchases. Representative 27.5% APR variable.
  • Capital on Tap Business Credit Card Visa
    Interest Free Days
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    42
    APR
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    35.2%
    Additional Information
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    Unlimited free 1% cashback on all card purchases
    No Introductory 0% cash or balance transfer terms
    Free UK ATM withdrawals and 0% commission on FX
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 35.15% variable per annum for purchases. Representative 35.2% APR variable.
  • Lloyds Bank Business Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    16.0%
    Additional Information
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    Detailed monthly statements
    £32 annual fee
    Open to existing business current account customers
    Representative Example: Based on a credit limit of £1200.00 charged at 15.96% variable per annum for purchases. Representative 16.0% APR variable.
  • Bank of Scotland Business Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    16.0%
    Additional Information
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    Detailed monthly statements
    £32 annual fee
    Open to existing business current account customers
    Representative Example: Based on a credit limit of £1200.00 charged at 15.96% variable per annum for purchases. Representative 16.0% APR variable.
  • Metro Bank Business Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    18.9%
    Additional Information
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    No annual fee
    No introductory 0% period for purchases or balance transfers
    Have/open Metro Bank business/commercial current account
    Representative Example: Based on a credit limit of £1200.00 charged at 17.44% variable per annum for purchases. Representative 18.9% APR variable.
  • HSBC Commercial Credit Card Visa
    Interest Free Days
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    56
    APR
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    22.0%
    Additional Information
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    No annual fee to pay for the first year
    No introductory 0% period for purchases
    Existing business current account customers only
    Representative Example: Based on a credit limit of £1200.00 charged at 15.9% variable per annum for purchases. Representative 22.0% APR variable.
  • Clydesdale Bank Business Mastercard
    Interest Free Days
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    59
    APR
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    22.4%
    Additional Information
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    No fee to pay for the first year
    No introductory 0% period for purchases or balance transfers
    Manage your card online
    Representative Example: Based on a credit limit of £1200.00 charged at 16.9% variable per annum for purchases. Representative 22.4% APR variable.
  • Yorkshire Bank Business Mastercard
    Interest Free Days
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    59
    APR
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    22.4%
    Additional Information
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    No annual fee to pay for the first year
    No introductory 0% period for purchases or balance transfers
    Manage your card online
    Representative Example: Based on a credit limit of £1200.00 charged at 16.9% variable per annum for purchases. Representative 22.4% APR variable.
  • Santander Business Cashback Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    23.7%
    Additional Information
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    1% cashback on purchases
    No introductory 0% period for purchases or balance transfers
    Annual fee £30 per account not card
    Representative Example: Based on a credit limit of £1200.00 charged at 18.9% variable per annum for purchases. Fee of £30 per annum applies. Representative 23.7% APR variable.
  • Royal Bank of Scotland Business Credit Card Mastercard
    Interest Free Days
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    56
    APR
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    24.3%
    Additional Information
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    No annual fee in year 1
    No introductory 0% period for purchases
    Free online account servicing
    Representative Example: Based on a credit limit of £1200.00 charged at 18.268% variable per annum for purchases. Representative 24.3% APR variable.
Note

Moneyfactscompare.co.uk Limited is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfactscompare.co.uk. None of these arrangements affects our independence.

Disclaimer

The list of business credit card providers on this page is a selection of services available and gives you an idea of the kind of options available. You can find out more about the individual products by visiting any of the providers listed. 

All credit cards are subject to the applicant’s status. The APR quoted is representative of the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you are offered may be higher, or you may not be offered credit. Fees and rates subject to change without notice. Please check all rates and terms before borrowing.

Moneyfactscompare.co.uk will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfactscompare.co.uk recommends you obtain independent financial advice.

Provider Links

‘Go To Provider's Site’ links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use ‘Speak to A Broker’ links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go To Provider's Site' or 'Speak To A Broker' button, when you call an advertised number or when you complete an application following a link from our website.

Moneyfacts Star Ratings

For over 30 years Moneyfacts has analysed financial products and the Moneyfacts Star Ratings are the badge of quality for the retail financial industry. Every year, impartial Product Experts assess the features of financial products to identify the very best available in the market.

When looking at products a number of factors are taken into consideration. These include how many features a product has and whether it has any additional benefits, optional extras or add-ons that make it stand out from the rest of the products on the market.

How do we decide which business credit cards get the highest ratings?

The Moneyfacts Star Ratings for Business Credit Cards are based on the weighting of specific product features, that are likely to be the most relevant to those businesses looking to take out a card.

A considerable number of features will add to the final score, and some of this information includes:

 

Flexibility

  • Opening & operating options
  • Payment options
  • Balance transfer availability
  • Contactless
  • Number of additional cards

Benefits

  • Card fees
  • Balance & money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Trace fees
  • Minimum interest charges
  • Dormancy fees
  • Replacement card fees

Features

  • Airport lounge access
  • Free emergency card
  • Free emergency cash
  • Interest free days
  • Enhanced Purchase protection
  • Luggage insurance
  • Free text alerts
  • Cashback
  • Travel accident insurance
  • European/worldwide travel insurance
  • Flight cancellation/delay insurance
  • Medical insurance
  • Personal liability insurance



Flexibility

  • Opening & operating options
  • Payment options
  • Balance transfer availability
  • Contactless
  • Number of additional cards

Benefits

  • Card fees
  • Balance & money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Trace fees
  • Minimum interest charges
  • Dormancy fees
  • Replacement card fees

Features

  • Airport lounge access
  • Free emergency card
  • Free emergency cash
  • Interest free days
  • Enhanced Purchase protection
  • Luggage insurance
  • Free text alerts
  • Cashback
  • Travel accident insurance
  • European/worldwide travel insurance
  • Flight cancellation/delay insurance
  • Medical insurance
  • Personal liability insurance



Flexibility

  • Opening & operating options
  • Payment options
  • Balance transfer availability
  • Contactless
  • Number of additional cards

Benefits

  • Card fees
  • Balance & money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Trace fees
  • Minimum interest charges
  • Dormancy fees
  • Replacement card fees

Features

  • Airport lounge access
  • Free emergency card
  • Free emergency cash
  • Interest free days
  • Enhanced Purchase protection
  • Luggage insurance
  • Free text alerts
  • Cashback
  • Travel accident insurance
  • European/worldwide travel insurance
  • Flight cancellation/delay insurance
  • Medical insurance
  • Personal liability insurance



Business Credit Card Star Ratings 2024

Click the headings below to see the full list of star ratings awarded.

Business Credit Cards - Five Star

Barclaycard Payments - Barclaycard Premium Plus Business Credit Card Mastercard
Barclaycard Payments - Barclaycard Select Cashback Business Credit Card Mastercard
Capital on Tap - Capital on Tap Business Credit Card Visa
Metro Bank - Metro Bank Business Credit Card Mastercard
NatWest - NatWest Business Credit Card Mastercard
NatWest - NatWest Business Plus Credit Card Mastercard
Royal Bank of Scotland - Royal Bank of Scotland Business Credit Card Mastercard
Royal Bank of Scotland - Royal Bank of Scotland Business Plus Credit Card Mastercard

Business Credit Card - Four Star

HSBC - HSBC Commercial Credit Card Visa
Santander - Santander Business Cashback Credit Card Mastercard

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Business credit cards explained

At a glance

  • Business credit cards can help self-employed and small business owners manage cash flow and make business-related purchases.
  • Most business credit cards charge an annual fee, with an extra charge per additional cardholder.
  • Read the small print for any eligibility restrictions before making an application.

How to use a business credit card?

A business credit card is a convenient way to purchase items for your business and to pay for business expenses. It also helps with managing your cashflow. This is because a business credit card comes with an interest free period of usually around 56 days. This means you can pay for business expenses without incurring any interest costs during this period. Your business may have times where invoices are overdue and as a result you lack the cashflow needed to fund your business expenses. A business credit card acts as a bridge for these periods of time. Ideally you will be able to clear your business credit card balance before the interest free period expires. If you find you are regularly incurring credit card interest costs and/or are struggling to get your clients to pay invoices on time, then invoice finance may be a more viable alternative. 

Our preferred invoice finance broker can help you to compare the options. Businesses that need credit for larger purchases can compare business loans.

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Business credit cards can be used to manage employee expenses too. This provides an audit trail of spend and can include spending limits to help control costs. And, those businesses with members of staff that need to travel abroad or conduct business internationally can look for a business credit card with reduced foreign exchange fees. Businesses with large and frequent international transactions or for those operating in multiple jurisdictions then a specialist foreign exchange broker may be more financially beneficially. 

Should I have a business credit card?

A business credit card offers several benefits:
  • Manage your cashflow with an interest free period
  • Easy to track spending and review business expenses
  • Separate personal and business costs for easier accounting
  • Convenient way to purchase goods for your business, online and in store
  • Remove the need for petty cash – easy to track and no need for reimbursement
  • Easy for purchases internationally or expenses abroad
  • Build the credit score of your business
  • Some business credit cards offer cashback and rewards
Remember though, business credit cards often come with annual fees and interest rates can be high, so make sure to factor that into your cashflow planning.

Connect your business credit card to accounting software

You can connect your business credit card to keep track of all purchases in your relevant accounting software. This includes being able to capture images of your business receipts, so these are stored and matched to expenses leaving your business credit card or business current account.

How do I apply for a business credit card?

You should start by comparing business credit cards on our chart above. The key things to compare are each card’s APR, annual fee, any cashback or rewards, associated costs and the interest-free grace period, as well as if there are any introductory 0% deals on offer. 

Next, you can apply for the card with your preferred credit card lender. In some cases you’ll need to be an existing business banking customer with the brand, but not always, so make sure to check the criteria before you apply. Alongside that, make sure you meet all other eligibility requirements – some lenders have minimum annual turnover requirements and others have different cards for different kinds of businesses, so it’s important to check where you stand.

You can typically apply online or over the phone and will be expected to answer some questions about the business, its turnover (or expected turnover), financial information and the kind of credit limit you’re hoping for, together with the names of any additional cardholders. You’ll likely be expected to provide copies of bank statements and related financial and personal details, including tax statements.

The lender will then perform a credit check on your business – and sometimes a personal credit check too – and will offer you a deal accordingly, with a higher credit score meaning you’ll be eligible for better interest rates and potentially a higher credit limit. Your application will then be approved or declined and, if it’s the former, you’ll be sent your new card(s), usually within five to 10 working days. You can check your personal credit score for free.

Can I use a personal credit card for business?

Yes, but it’s not advisable because you need to be able to identify and track those items that are for your business use only to complete your company accounts. A separate card and account make this more straight forward and simple. 

If you have employees, then sharing your personal credit card is also a security risk and if misused could impact your credit score. 

How to get a business credit card for a new business

The route to getting a business credit card is largely the same whether you’re a new business or a more established one, the main differences being in terms of the information you’ll be expected to provide, and the credit check process.

As a new business you won’t have any evidence of turnover, cashflow or trading history, so you’ll instead have to provide estimates, and will likely have to show a business plan as well. Similarly, your business won’t have built up its own credit score yet which means your personal score will come under greater scrutiny. It’s therefore wise to check your credit score ahead of time and see if you can make any improvements.

It’s also more likely that you’ll be asked to provide a personal guarantee, which states that you’ll be personally liable for any debts should your business default on the repayments. This may not always be required, and in some cases may be required even if you’re an established company, but it’s worth bearing in mind if you’re a new business.

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Do business credit cards build credit?

Yes. Much like with a personal credit card, by effectively managing your business credit card you’ll be able to build the credit score of your business, which could help you secure additional finance to help your company grow in the future. This relies on keeping within the terms of your credit agreement and never missing a repayment; if you were to fall behind, the opposite would be true, and it could serve to downgrade your credit rating accordingly. 

Does a business credit card affect personal credit score?

If the lender is running a credit check on your personal file – perhaps if you’re a new business – then it will result in a slight dip to your credit score, as is the case with all hard inquiries. However, this hit should be temporary, and provided you manage your credit agreements effectively will be quickly recovered from. Typically speaking, the only other time a business credit card could affect your personal credit score is if you give a personal guarantee and the business defaults on the debt, leaving you liable, which will understandably have an impact on your credit history. 

Can I get a business credit card with bad credit?

You can, though it will be more difficult to source suitable options. It’s likely that you’ll only be eligible for cards that come with a higher interest rate and/or lower credit limit, while additional features may be limited and you’re more likely to be asked for a personal guarantee. You should ideally seek providers that offer an eligibility checking tool prior to making a full application – this will give you an indication of whether or not you’ll be accepted without running a full hard search on your credit profile, and so won’t show up on your report or impact your score. 

Don’t make the mistake of applying for a lot of cards, either; not only will each hard enquiry dent your score, but if you’re refused it’ll have an even greater impact that can be harder to recover from, so only apply for a single card you’re confident you’ll be approved for. 

Business credit cards FAQs

Are business credit cards personally guaranteed?

They can be, though this depends on the agreement you have with your lender. Some will ask you to provide a personal guarantee which will see you liable if the business can’t pay its debts, but this is more likely if you’re a new or small company and will rarely be required if you’re a larger established firm with a solid business credit rating. 

Can you write off business credit card interest?

Business credit card interest can be claimed as a business expense and therefore deducted from your pre-tax profits to reduce your tax bill. 
How long should a business keep credit card receipts?
HMRC states that businesses must keep records of all financial transactions – including receipts – for six years from the end of the last company financial year they relate to. 

 

Are credit card fees tax deductible for businesses? 

Yes, any fees and charges incurred while using your business credit card are tax deductible, though there may be complications involved if the transaction could be deemed for personal benefit. This is why it’s often best to keep your personal and business transactions separate and why having a dedicated business credit card is often preferred, but it also highlights the importance of seeking suitable financial and tax advice. Head to Unbiased.co.uk or speak to our preferred independent financial advisers for a free one hour tax review (min £100,000 investments required).

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