Compare The Best Business Credit Cards

Compare the fees, rewards and eligibility requirements of the best business credit cards for UK businesses

Recommended Business Credit Card

A business credit card, which will be in your company’s name rather than your personal name, can be one of the best sources of business financing (if the balance is paid off each month).

They are becoming more popular with SMEs due to the speed of approval, rewards and expense tracking.  In Q3 2023, 20% of UK businesses used business credit cards which was up from 12% in Q1 2023.

We regularly check UK business credit providers to find the best deals to suit various business types and requirements such as the highest cashback rates, lowest upfront fees and interest rates or best perks for travellers. Here are our top business credit cards for UK SMEs.

Jump to:

The best business credit cards for UK small businesses

Uncapped 1% cashback 

Capital on Tap Free Business Credit Card

The free version of the Capital on Tap business card is a free card with zero FX or ATM fees. The card has uncapped cashback, but lacks any comprehensive reward system. This makes it a very strong, but quite basic, business credit card.

Our view: Ideal for non-travellers looking for straightforward cashback along with simple, free employee cards.

  • Best for: Best for cashback rewards while remaining free
  • Intro Offer: None
  • Rewards:
    • Uncapped 1% cashback on all card spending
    • Redeem points for cash
    • Access savings on popular SaaS, such as Dropbox & Slack.
  • Annual Fee:  None
  • APR: 15.5% APR and above (variable)
  • Features
    • No FX or ATM fees
    • Sync seamlessly with popular accounting software
    • Get up to £250,000 in credit
    • 24/7 support
    • Unlimited free company cards with tailored limits & real-time tracking
    • Virtual cards
  • Eligibility:
    • Active director or majority shareholder with over 25% ownership
    • Have a Ltd or LLP based in the UK
    • No CCJs in the past 12 months (you or the business)
    • Turnover of over at least £24,000

Pros:

Cons:

Pros:

The free version of the Capital on Tap business card is a free card with zero FX or ATM fees. The card has uncapped cashback, but lacks any comprehensive reward system. This makes it a very strong, but quite basic, business credit card.

Our view: The card is suited to non-travellers looking for straightforward cashback along with simple, free employee cards.

Cons:

  • Best for: Best for cashback rewards while remaining free
  • Intro Offer: None
  • Rewards:
    • Uncapped 1% cashback on all card spending
    • Redeem points for cash
    • Access savings on popular SaaS products such as Dropbox & Slack.
  • Annual Fee:  None
  • APR: 15.5% APR and above (variable)
  • Features:
    • No FX or ATM fees
    • Sync seamlessly with popular accounting software
    • Get up to £250,000 in credit
    • 24/7 support
    • Unlimited free company cards with tailored limits & real-time tracking
    • Virtual cards
  • Eligibility:
    • Active director or majority shareholder with over 25% ownership
    • Have a Ltd or LLP based in the UK
    • No CCJs in the past 12 months (you or the business)
    • Turnover of over at least £24,000
Intro Bonus & Avois Points

Capital on Tap Business Rewards Credit Card

The ‘Business Rewards’ version of the Capital on Tap credit card has very similar features to the free version, but introduces Avios points and an introductory bonus for the price of £99 per year. This may not be worthwhile for small spenders, but it does a good job of filling in the shortcomings of the free card.

Our view: Ideal for company directors looking to collect Avios points on business expenses.

  • Best for: Best all-rounder for higher spenders
  • Intro Offer: 10,000 bonus points when you spend £5,000 in the first three months
  • Rewards:
    • Uncapped 1% cashback on all card spending
    • Redeem points for cash
    • Access savings on popular SaaS products such as Dropbox & Slack.
  • Annual Fee: £99
  • APR: 15.5% APR and above (variable)
  • Features:
    • No FX or ATM fees
    • Sync seamlessly with popular accounting software
    • Get up to £250,000 in credit
    • 24/7 support
    • Unlimited free company cards with tailored limits & real-time tracking
    • Virtual cards
    • Upload transaction receipts
  • Eligibility:
    • Active director or majority shareholder with over 25% ownership
    • Have a Ltd or LLP based in the UK
    • No CCJs in the past 12 months (you or the business)
    • Turnover of over £24,000

Pros:

Cons:

The ‘Business Rewards’ version of the Capital on Tap credit card has very similar features to the free version, but introduces Avios points and an introductory bonus for the price of £99 per year. This may not be worthwhile for small spenders, but it does a good job of filling in the shortcomings of the free card.

Our view: Ideal for company directors looking to collect Avios points on business expenses. 

Pros:

Cons:

  • Best for: Best all-rounder for higher spenders
  • Intro Offer: 10,000 bonus points when you spend £5,000 in the first three months
  • Rewards
    • Uncapped 1% cashback on all card spending
    • Redeem points for cash
    • Access savings on popular SaaS products such as Dropbox & Slack.
  • Annual Fee: £99
  • APR: 15.5% APR and above (variable)
  • Our view: Ideal for non-travellers looking for straightforward cashback along with simple, free employee cards.
  • Features
    • No FX or ATM fees
    • Sync seamlessly with popular accounting software
    • Get up to £250,000 in credit
    • 24/7 support
    • Unlimited free company cards with tailored limits & real-time tracking
    • Virtual cards
    • Upload transaction receipts
  • Eligibility:
    • Active director or majority shareholder with over 25% ownership
    • Have a Ltd or LLP based in the UK
    • No CCJs in the past 12 months (you or the business)
    • Turnover of over £24,000

30,000 Avios Points Intro Bonus

British Airways American Express Accelerating Business Card

Business Credit Cards Amex BA Business Credit Card

The British Airways AMEX Accelerating Business card has a huge potential for travel rewards, with four key components, with the potential for: 30,000 Avios points annually, a 30,000 Avios points introductory offer, and both 1.5 Avios points and 2x business points for each pound spent. 

This has the largest reward potential of any card, along with good insurance. Low spenders,  infrequent flyers, and those going over the 56-day interest-free period will find it very expensive.

Our view: While expensive, this card can quickly become worthwhile for frequent business travellers and big spenders. 1 Avios point is roughly worth 2p for BA business class, meaning that you only need ~15,000 points to cover the annual fee. This should be easily achievable for businesses spending around £10,000 per year.

  • Best for: High-spending frequent flyers
  • Intro Offer: 30,000 Avios points when spending £5,000 in the first 3 months
  • Rewards:
    • 1.5x Avios for every £1 spent on purchases
    • 2x business points (British Airways) for every eligible £1 spent
    • 10,000 Avios points for every £20,000 spent (up to 3 times per year)
    • Insurance: Travel, purchase protection, fraud guarantee, refund protection
  • Annual Fee: £250
  • APR: Representative example: 108.4% APR (variable), 28.5% p.a. purchase rate (variable)
  • Features:
    • Up to 56 days free of interest on purchases
    • Complimentary cards for employees
    • 24/7 customer service
  • Eligibility:
    • Your business has an existing UK Bank account (or Building Society)
    • Permanent UK home address

Pros:

Cons:

The British Airways AMEX Accelerating Business card has a huge potential for travel rewards, with four key components, with the potential for: 30,000 Avios points annually, a 30,000 Avios points introductory offer, and both 1.5 Avios points and 2x business points for each pound spent. 

This has the largest reward potential of any card, along with good insurance. Low spenders,  infrequent flyers, and those going over the 56-day interest-free period will find it very expensive.

Our View: While expensive, this card can quickly become worthwhile for frequent business travellers and big spenders. 1 Avios point is roughly worth 2p for BA business class, meaning that you only need ~15,000 points to cover the annual fee. This should be easily achievable for businesses spending around £10,000 per year.

Pros:

Cons:

  • Best for: High-spending frequent flyers
  • Intro Offer: 30,000 Avios points when spending £5,000 in the first 3 months
  • Rewards:
    • 1.5x Avios for every £1 spent on purchases
    • 2x business points (British Airways) for every eligible £1 spent
    • 10,000 Avios points for every £20,000 spent (up to 3 times per year)
    • Insurance: Travel, purchase protection, fraud guarantee, refund protection
  • Annual Fee: £250
  • APR: Representative example: 108.4% APR (variable), 28.5% p.a. purchase rate (variable).
  • Features:
    • Up to 56 days free of interest on purchases
    • Complimentary cards for employees
    • 24/7 customer service
  • Eligibility:
    • Your business has an existing UK Bank account (or Building Society)
    • Permanent UK home address

40,000 Reward Points Intro Bonus

American Express Business Gold Card

Business Credit Cards Amex Business Gold Credit Card

The Business Gold Card is one of the cheaper AMEX cards, yet has a comprehensive reward system that isn’t just limited to flying. Global Assistance and free employee cards are stand-out features. For lower spenders, this may be a one-year use card due to its minimum thresholds for some rewards, as well as having limited software integration and no cashback.

Membership points can be used for X or exchanged for experiences, shopping, hotels and air miles / points at British Airways or Virgin Atlantic.

Our view: If your business spends enough to access the bonus rewards, the Business Gold Card can be a lucrative option with flexible rewards at potentially no cost (in the first year).

  • Best for: Flexible high-spending rewards
  • Intro Offer:
    • £0 annual fee in the first year
    • 40,000 Membership Reward points when you spend £6,000 in the first 3 months
    • Earn an extra 20,000 Membership Rewards points when making a purchase (any amount) between 14 and 17 months of membership.
  • Rewards:
    • Up to 54 days free of interest on purchase
    • Up to 20 complimentary Gold cards for employees
    • Dell Technologies £100 Statement credit
    • Earn 10,000 Membership Reward points when spending £20,000 per quarter
    • Earn 1 Membership Reward point for almost every £1 spent, and an additional point when purchasing through American Express Travel
    • Global travel insurance (travel and accident Inconvenience)
  • Annual Fee: £195 (first year free)
  • APR: None as this is a charge card
  • Features:
    • Up to 54 days free of interest on purchases
    • Complimentary cards for employees
    • Global Assist: 24/7 customer service around the world
    • Emergency card replacement
  • Eligibility:
    • Your business has an existing UK Bank or Building Society account
    • Permanent UK home address
    • No welcome bonus award if you have had any taken part in Membership Rewards on another card in the past 13 months)

Pros:

Cons:

The Business Gold Card is one of the cheaper AMEX cards, yet has a comprehensive reward system that isn’t just limited to flying. Global Assistance and free employee cards are stand-out features. For lower spenders, this may be a one-year use card due to its minimum thresholds for some rewards, as well as having limited software integration and no cashback.

Our view: If your business spends enough to access the bonus rewards, the Business Gold Card can be a lucrative option with flexible rewards at potentially no cost (in the first year).

Pros:

Cons:

  • Best for: Flexible high-spending rewards
  • Intro Offer:
    • £0 annual fee in the first year
    • 40,000 Membership Reward points when you spend £6,000 in the first 3 months
    • Earn an extra 20,000 Membership Rewards points when making a purchase (any amount) between 14 and 17 months of membership.
  • Rewards:
    • Up to 54 days free of interest on purchase
    • Up to 20 complimentary Gold cards for employees
    • Dell Technologies £100 Statement credit
    • Earn 10,000 Membership Reward points when spending £20,000 per quarter
    • Earn 1 Membership Reward point for almost every £1 spent, and an additional point when purchasing through American Express Travel
    • Global travel insurance (travel and accident Inconvenience)
  • Annual Fee: £195 (first year free)
  • APR: N/A This is a charge card
  • Features:
    • Up to 54 days free of interest on purchases
    • Complimentary cards for employees
    • Global Assist: 24/7 customer service around the world
    • Emergency card replacement
  • Eligibility:
    • Your business has an existing UK Bank or Building Society account
    • Permanent UK home address
    • No welcome bonus award if you have had any taken part in Membership Rewards on another card in the past 13 months)

2% Cashback for 1st 3 months

Barclaycard Select Cashback Business Credit Card

Barclaycard_Select_Cashback_credit_card_horizontal_may

The Select Cashback credit card has no annual fees, yet rewards spenders with uncapped cashback, insurance, and FreshBooks integration. The card’s downfall is that it’s costly for purchases and international transactions, and lacks a comprehensive reward system.

Our view: The card’s FreshBooks integration is useful for startups without a system in place, all whilst benefiting from cashback rewards and low turnover eligibility. For international companies, the card is expensive and without sufficient rewards.

Pros:

Cons:

  • Best for: Flexible high-spending rewards
  • Intro Offer:
    • £0 annual fee in the first year
    • 40,000 Membership Reward points when you spend £6,000 in the first 3 months
    • Earn an extra 20,000 Membership Rewards points when making a purchase (any amount) between 14 and 17 months of membership.
  • Rewards:
    • Up to 54 days free of interest on purchase
    • Up to 20 complimentary Gold cards for employees
    • Dell Technologies £100 Statement credit
    • Earn 10,000 Membership Reward points when spending £20,000 per quarter
    • Earn 1 Membership Reward point for almost every £1 spent, and an additional point when purchasing through American Express Travel
    • Global travel insurance (travel and accident Inconvenience)
  • Annual Fee: £195 (first year free)
  • APR: Representative 88.8% APR variable.
  • Features:
    • Up to 54 days free of interest on purchases
    • Complimentary cards for employees
    • Global Assist: 24/7 customer service around the world
    • Emergency card replacement
  • Eligibility:
    • Your business has an existing UK Bank or Building Society account
    • Permanent UK home address
    • No welcome bonus award if you have had any taken part in Membership Rewards on another card in the past 13 months)

The Select Cashback credit card has no annual fees, yet rewards spenders with uncapped cashback, insurance, and FreshBooks integration. The card’s downfall is that it’s costly for purchases and international transactions, and lacks a comprehensive reward system.

Our view: The card’s FreshBooks integration is useful for startups without a system in place, all whilst benefiting from cashback rewards and low turnover eligibility. For international companies, the card is expensive and without sufficient rewards.

  • Best for: Low turnover, domestic startups
  • Intro Offer: 2% uncapped cashback for three months
  • Rewards:
    • 1% uncapped cashback
    • Free access to FreshBooks (worth £260/year)
    • Insurance for cardholder misuse and purchase protection
  • Annual Fee: None
  • APR: Representative example: 27.5% APR (variable) and 27.5% p.a. (variable) purchase rate
  • Features:
    • Up to 56 days free of interest for business purchases
    • Links to FreshBooks
    • Connects with Apple Pay
  • Eligibility:
    • Turnover of £10,000 or more
    • Existing finances have been well managed over the past year
    • You haven’t been rejected for a commercial card at Barclays in the past six months

Pros:

Cons:

The Select Cashback credit card has no annual fees, yet rewards spenders with uncapped cashback, insurance, and FreshBooks integration. The card’s downfall is that it’s costly for purchases and international transactions, and lacks a comprehensive reward system.

Our view: The card’s FreshBooks integration is useful for startups without a system in place, all whilst benefiting from cashback rewards and low turnover eligibility. For international companies, the card is expensive and without sufficient rewards.

Pros:

Cons:

  • Best for: Low turnover, domestic startups
  • Intro Offer: 2% uncapped cashback for three months
  • Rewards:
    • 1% uncapped cashback
    • Free access to FreshBooks (worth £260/year)
    • Insurance for cardholder misuse and purchase protection
  • Annual Fee: None
  • APR: Representative example: 27.5% APR (variable) and 27.5% p.a. (variable) purchase rate
  • Our view: The card’s FreshBooks integration is useful for startups without a system in place, all whilst benefiting from cashback rewards and low turnover eligibility. For international companies, the card is expensive and without sufficient rewards.
  • Features:
    • Up to 56 days free of interest for business purchases
    • Links to FreshBooks
    • Connects with Apple Pay
  • Eligibility:
    • Turnover of £10,000 or more
    • Existing finances have been well managed over the past year
    • You haven’t been rejected for a commercial card at Barclays in the past six months
No Annual Fee In The First Year

RBS Business Credit Card

rbs business credit card

The RBS Business credit card is a very cheap option for domestic businesses, as many firms will benefit from no annual fee, a relatively low APR, and 56 days interest-free for purchases. This card may then be mostly aimed at small businesses that already use RBS and its free proprietary software, ClearSpend.

Our view: Whilst very limited, this RBS card is one of the cheapest options yet still provides basic software and some rewards. This may be suited to owners who spend a lot of time driving, as £3,000/year in fuel would cover the annual cost. Large logistic firms wouldn’t benefit, as there are no employee cards.

  • Best for: RBS customers looking to keep costs down
  • Intro Offer: £0 annual fee in the first year
  • Rewards:
    • 1% cashback at fuel and EV stations
  • Annual Fee: £30 (£0 if you spend over £6K/year)
  • APR: Representative example: 24.3% APR (variable) and 16.9% p.a. purchase rate (variable)
  • Features:
    • Up to 56 days free of interest on purchases
    • Integrates with ClearSpend mobile app 
    • Smart Data: Create reports for business spending analysis
  • Eligibility:
    • You must have an RBS business current account and revenue under £2 million

Pros:

Cons:

The RBS Business credit card is a very cheap option for domestic businesses, as many firms will benefit from no annual fee, a relatively low APR, and 56 days interest-free for purchases. This card may then be mostly aimed at small businesses that already use RBS and its free proprietary software, ClearSpend.

Our view: Whilst very limited, this RBS card is one of the cheapest options yet still provides basic software and some rewards. This may be suited to owners who spend a lot of time driving, as £3,000/year in fuel would cover the annual cost. Large logistic firms wouldn’t benefit, as there are no employee cards.

Pros:

Cons:

  • Best for: RBS customers looking to keep costs down
  • Intro Offer: £0 annual fee in the first year
  • Rewards
    • 1% cashback at fuel and EV stations
  • Annual Fee: £30 (£0 if you spend over £6K/year)
  • APR: Representative example: 24.3% APR (variable) and 16.9% p.a. purchase rate (variable)
  • Our view: Whilst very limited, this RBS card is one of the cheapest options yet still provides basic software and some rewards. This may be suited to owners who spend a lot of time driving, as £3,000/year in fuel would cover the annual cost. Large logistic firms wouldn’t benefit, as there are no employee cards.
  • Features:
    • Up to 56 days free of interest on purchases
    • Integrates with ClearSpend mobile app 
    • Smart Data: Create reports for business spending analysis
  • Eligibility:
    • You must have an RBS business current account and revenue under £2 million

No Annual Fee

Metro Bank Business Credit Card

Business Credit Cards metrobank business credit card

Metro Bank’s Business credit card is a simple but effective way to access credit. At a low and consistent 18.90% APR and 56 days interest-free, this is ideal for European firms looking for (relatively) cheap credit. However, the cost may be low, but the opportunity cost of having no rewards will be huge for high spenders.

Our view: This card has one of the lowest interest rates on the on the market so it would suit businesses who don’t clear their balance at the end of each month (which we would not recommend as there are cheaper sources of finance).

  • Best for: Lowest fees and European businesses
  • Intro Offer: None
  • Rewards: None
  • Annual Fee: £0
  • APR: One simple rate of 18.90% APR
  • Features
    • Up to 56 days free of interest on purchases
    • No fees in countries using SEPA
  • Eligibility
    • Business or Commercial Current Account at Metro Bank

Pros:

Cons:

Metro Bank’s Business credit card is a simple but effective way to access credit. At a low and consistent 18.90% APR and 56 days interest-free, this is ideal for European firms looking for (relatively) cheap credit. However, the cost may be low, but the opportunity cost of having no rewards will be huge for high spenders.

Our view: This card has one of the lowest interest rates on the on the market so it would suit businesses who don’t clear their balance at the end of each month (which we would not recommend as their are cheaper sources of finance).

Pros:

Cons:

  • Best for: Lowest fees and European businesses
  • Intro Offer: None
  • Rewards: None
  • Annual Fee: £0
  • APR: One simple rate of 18.90% APR
  • Our view: This is potentially the cheapest card on the market, making it perfect for a small business that is looking for credit as opposed to rewards.
  • Features
    • Up to 56 days free of interest on purchases
    • No fees in countries using SEPA
  • Eligibility
    • Business or Commercial Current Account at Metro Bank
Unlimited 1% cashback

Santander Business Cashback Credit Card

Santander Business Credit Card

This card is competing with the Capital on Tap and Barclaycard cards, which both offer 1% cashback yet are free. While the Santander card has an annual fee, it is low, has a competitive APR, and has the benefit of no FX fees.

Our view: Santander’s business cashback credit card is an all-rounder, with competitive fees, cashback, and additional card features. Its key USP from some of the earlier cards is the zero FX fees, making it suited to small, international companies. Ultimately, it would be worthy of consideration if not for the poor customer service reviews.

 

  • Best for: Small international businesses
  • Intro Offer: None
  • Rewards: 1% uncapped cashback
  • Annual Fee: £30
  • APR: Representative example: 23.7% APR (variable) and 18.9% p.a. purchase rate (variable)
  • Features
    • No FX fees when purchasing abroad in the local currency
    • Free additional cards with custom limits (max. 4)
  • Eligibility:
    • A business with no more than two partners, directors, or members 
    • Have an existing business account with Santander
    • Use the card for business expenses only
    • You don’t have a Business Cashback Credit Card

Pros:

Cons:

This card is competing with the Capital on Tap and Barclaycard cards, which both offer 1% cashback yet are free. While the Santander card has an annual fee, it is low, has a competitive APR, and has the benefit of no FX fees. 

Our view: Santander’s business cashback credit card is an all-rounder, with competitive fees, cashback, and additional card features. Its key USP from some of the earlier cards is the zero FX fees, making it suited to small, international companies. Ultimately, it would be worthy of consideration if not for the poor customer service reviews.

Pros:

Cons:

  • Best for: Small international businesses 
  • Intro Offer: None
  • Rewards: 1% uncapped cashback
  • Annual Fee: £30
  • APR: Representative example: 23.7% APR (variable) and 18.9% p.a. purchase rate (variable)
  • Our view: Santander’s business cashback credit card is an all-rounder, with competitive fees, cashback, and additional card features. Its key USP from some of the earlier cards is the zero FX fees, making it suited to small, international companies.
  • Features
    • No FX fees when purchasing abroad in the local currency
    • Free additional cards with custom limits (max. 4)
  • Eligibility:
    • A business with no more than two partners, directors, or members 
    • Have an existing business account with Santander
    • Use the card for business expenses only
    • You don’t have a Business Cashback Credit Card
56 Days Interest-Free Credit

HSBC Commercial Card

Business Credit Cards HSBC Commercial Card

The HSBC Commercial Card has very few stand-out features, but it could be useful for startups looking to onboard with various services at a discount.

It is a solid option for those looking for a relatively low-cost card with discounts and a competitive interest-free period. However, this card quickly becomes unsuitable for higher spenders and international spending. 

Our view: The HSBC Commercial Card has very few stand-out features, but it could be useful for startups looking to onboard with various services at a discount. 

  • Best for: Small UK firms looking for discounts
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • APR: Representative 22% APR (variable) and 15.9% p.a. purchase rate (variable)
  • Interest Free Period: 56 days’ interest-free credit
  • Features
    • Up to 56 days free of interest on purchases
    • Xero (three months free)
    • Discounts at Dell, Europcar, AA, McAfee, Samsung, and Supportware
    • Set custom limits for employee cards
  • Eligibility:
    • Sole traders, partnerships, limited, and unlimited companies with 3 or less directors/partners
    • Not in the financial services industry 
    • HSBC business current account

Pros:

Cons:

The HSBC Commercial Card is a solid option for those looking for a relatively low-cost card with discounts and a competitive interest-free period. However, this card quickly becomes unsuitable for higher spenders and international spending.

Our view: The HSBC Commercial Card has very few stand-out features, but it could be useful for startups looking to onboard with various services at a discount.

Pros:

Cons:

  • Best for: Small UK firms looking for discounts
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • APR: Representative 22% APR (variable) and 15.9% p.a. purchase rate (variable)
  • Our view: The HSBC Commercial Card has very few stand-out features, but it could be useful for startups looking to onboard with various services at a discount. 
  • Features
    • Up to 56 days free of interest on purchases
    • Xero (three months free)
    • Discounts at Dell, Europcar, AA, McAfee, Samsung, and Supportware
    • Set custom limits for employee cards
  • Eligibility:
    • Sole traders, partnerships, limited, and unlimited companies with 3 or less directors/partners
    • Not in the financial services industry 
    • HSBC business current account
45 Days Interest-Free Credit

Lloyds Business Credit Card

Business Credit Cards lloyds business credit card

Given the relatively low annual fee, the Lloyds Business credit card is competitive when it comes to insurance, protection, and being suitable for new businesses. However, it falls short regarding additional fees and a short interest-free period. 

Our view: In return for the £32 annual fee, customers will receive good protection and insurance coverage. There are high additional fees and concerning reviews, however, low-sending new businesses can access up to £5,000.

  • Best for: New businesses
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • APR: Representative 22.4% APR (variable) and 16.3% p.a. purchase rate (variable)
  • Interest Free Period: 45 days’ interest-free credi
  • Features
    • Up to 45 days free of interest on purchases
    • Issue 20 cards with custom limits
    • Merchant rebates with Business Savings (Mastercard)
    • Buyers protection insurance
    • Travel insurance
    • Borrow up to £10,000 (£5,000 for new businesses)
  • Eligibility:
    • Already a Business Current Account holder
    • Sole trader, partner, or director with authority to borrow
    • Potentially a guarantee for Limited Companies

Pros:

Cons:

Given the relatively low annual fee, the Lloyds Business credit card is competitive when it comes to insurance, protection, and being suitable for new businesses. However, it falls short regarding additional fees and a short interest-free period. 

Our view: In return for the £32 annual fee, customers will receive good protection and insurance coverage. There are high additional fees and concerning reviews, however, low-sending new businesses can access up to £5,000.

Pros:

Cons:

  • Best for: New businesses
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • APR: Representative 22.4% APR (variable) and 16.3% p.a. purchase rate (variable)
  • Our view: In return for the £32 annual fee, customers will receive good protection and insurance coverage. There are high additional fees and concerning reviews, however, low-sending new businesses can access up to £5,000.
  • Features
    • Up to 45 days free of interest on purchases
    • Issue 20 cards with custom limits
    • Merchant rebates with Business Savings (Mastercard)
    • Buyers protection insurance
    • Travel insurance
    • Borrow up to £10,000 (£5,000 for new businesses)
  • Eligibility:
    • Already a Business Current Account holder
    • Sole trader, partner, or director with authority to borrow
    • Potentially a guarantee for Limited Companies
56 Days Interest-Free Credit

Bank of Scotland Business Credit Card

Business Credit Cards Bank of Scotland Business Credit Card

Being a part of Lloyd’s Group, the BOS card is essentially the same. This means that it’s a competitive option when it comes to insurance, and it’s relatively accessible for new businesses too. However, both cards have a short interest-free period, poor customer reviews, and no spending rewards.

Our view: This card is the same as the Lloyd’s card, meaning it’s suited to either new businesses and/or domestic, low-spending ones.

  • Best for: New businesses
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • Interest Free Period: 45 days’ interest-free credit
  • APR: Representative 22.4% APR (variable) and 16.3% p.a. purchase rate (variable)
  • Features:
    • Up to 45 days free of interest on purchases
    • Issue up to 20 cards with custom limits
    • Merchant rebates with Business Savings (Mastercard)
    • Buyer protection insurance
    • Travel insurance
    • Borrow up to £10,000 (£5,000 for new businesses)
  • Eligibility:
    • Already have a Business Current Account at Bank of Scotland
    • Sole trader, partner, or director with authority to borrow
    • Potentially a guarantee for Limited Companies

Pros:

Cons:

Being a part of Lloyd’s Group, the BOS card is essentially the same. This means that it’s a competitive option when it comes to insurance, and it’s relatively accessible for new businesses too. However, both cards have a short interest-free period, poor customer reviews, and no spending rewards.

Our view: This card is the same as the Lloyd’s card, meaning it’s suited to either new businesses and/or domestic, low-spending ones.

Pros:

Cons:

  • Best for: New businesses
  • Intro Offer: £0 annual fee for the first year
  • Rewards: None
  • Annual Fee: £32 (first year free)
  • APR: Representative 22.4% APR (variable) and 16.3% p.a. purchase rate (variable)
  • Our view: This card is the same as the Lloyd’s card, meaning it’s suited to either new businesses and/or domestic, low-spending ones.
  • Features:
    • Up to 45 days free of interest on purchases
    • Issue up to 20 cards with custom limits
    • Merchant rebates with Business Savings (Mastercard)
    • Buyer protection insurance
    • Travel insurance
    • Borrow up to £10,000 (£5,000 for new businesses)
  • Eligibility:
    • Already have a Business Current Account at Bank of Scotland
    • Sole trader, partner, or director with authority to borrow
    • Potentially a guarantee for Limited Companies

Large Credit Limit

Moss

Business Credit Cards Moss business credit card

Moss is clearly an innovative fintech that is trying to simplify business spending. Its integrations are powerful and can help improve the efficiency of a company. However, with no rewards and unclear credit repayment terms, it’s a service that isn’t directly competing with traditional credit card providers.

Our view: Moss is an interesting but slightly convoluted service. It excels in its modern software, and its large credit limit is suited to larger businesses. However, it’s difficult to compare with the rewards gained with traditional credit card providers.

  • Best for: Large businesses that can pay back quickly
  • Intro Offer: None
  • Rewards: None
  • Monthly Fee: Custom monthly fee
  • Features
    • Intelligent automation: Software detects receipts through your integrated software (i.e. email)
    • Up to £2.5 million per month in credit (determined by their in-house underwriting team)
    • Advanced budget, accounting, approval, and invoice management
    • 2% FX fee
  • Eligibility: Cannot serve a micro-enterprise (revenue under £2m or under 10 employees) 

Pros:

Cons:

Moss is clearly an innovative fintech that is trying to simplify business spending. Its integrations are powerful and can help improve the efficiency of a company. However, with no rewards and unclear credit repayment terms, it’s a service that isn’t directly competing with traditional credit card providers.

Our view: Moss is an interesting but slightly convoluted service. It excels in its modern software, and its large credit limit is suited to larger businesses. However, it’s difficult to compare with the rewards gained with traditional credit card providers.

Pros:

Cons:

  • Best for: Large businesses that can pay back quickly
  • Intro Offer: None
  • Rewards: None
  • Monthly Fee: Custom monthly fee
  • Our view: Moss is an interesting but slightly convoluted service. It excels in its modern software, and its large credit limit is suited to larger businesses. However, it’s difficult to compare with the rewards gained with a traditional credit card provider, meaning it requires careful consideration.
  • Features
    • Intelligent automation: Software detects receipts through your integrated software (i.e. email)
    • Up to £2.5 million per month in credit (determined by their in-house underwriting team)
    • Advanced budget, accounting, approval, and invoice management
    • 2% FX fee
  • Eligibility: Cannot serve a micro-enterprise (revenue under £2m or under 10 employees) 
0.5% cashback & €79 per month

Juni

Despite being very new, Juni has quickly built up positive reviews and a promising service. With a large scope for integration and international spending, it also provides high credit limits and a 38-day interest-free period. 

Companies need to spend €15,800 (debit) to make back their €79/month fee via cashback, highlighting that you’re paying a premium for a broader solution.

Our view: Juni is a bright, young company with great software and customer reviews. The service is expensive because it’s not just for accessing credit (though limits are high).

  • Best for: A comprehensive and international payment solution
  • Intro Offer: None
  • Rewards:
    • 0.5% uncapped cashback on debit spend
    • Up to 1% cashback on the bespoke plan
  • Monthly Fee:  Two plans, Scale (€79/month) and Prime (bespoke)
  • Features
    • Up to 38 days interest-free with €200k credit limit (up to €20m for Prime)
    • Integrations with Shopify, Amazon, and 2400+ banking services
    • Modern software with streamlined accounting
    • Dedicated account manager (Prime)
    • 1.5% FX fee for card payments (0.5% for transfers)
    • 10 free IBAN accounts and virtual cards in various currencies

Pros:

Cons:

Despite being very new, Juni has quickly built up positive reviews and a promising service. With a large scope for integration and international spending, it also provides high credit limits and a 38-day interest-free period. Companies need to spend €15,800 (debit) to make back their €79/month fee via cashback, highlighting that you’re paying a premium for a broader solution.

Our view: Juni is a bright, young company with great software and customer reviews. The service is expensive because it’s not just for accessing credit (though limits are high).

Pros:

Cons:

  • Best for: A comprehensive and international payment solution
  • Intro Offer: None
  • Rewards
    • 0.5% uncapped cashback on debit spend
    • Up to 1% cashback on the bespoke plan
  • Monthly Fee:  Two plans, Scale (€79/month) and Prime (bespoke)
  • Our view: Juni is a bright, young company with great software and customer reviews. The service is expensive because it’s not just for accessing credit (though limits are high). 
  • Features
    • Up to 38 days interest-free with €200k credit limit (up to €20m for Prime)
    • Integrations with Shopify, Amazon, and 2400+ banking services
    • Modern software with streamlined accounting
    • Dedicated account manager (Prime)
    • 1.5% FX fee for card payments (0.5% for transfers)
    • 10 free IBAN accounts and virtual cards in various currencies

Potential $1M Credit Limit

Payhawk

pawhawk card

Payhawk is so full of features that benefits like custom spending controls on employee cards, LoungeKey membership, and Visa concierge couldn’t fit the “Features” section. The corporate card should be seen as short-term spending with high limits which allows businesses to track mileage, create per diems, and manage out-of-pocket expenses. Payhawk’s rewards are potentially limited and it is predominantly focused on European-centric businesses.

Our view: Payhawk offers a large credit limit with a reasonable interest-free period (38 days), but this is where the credit ends. This makes it useful to tie over cash flow in the very short term, all whilst benefiting from cheap FX and cashback. Its standout features are its ESG compliance automation and expense management for global businesses.

  • Best for: International, ESG-compliant businesses 
  • Intro Offer: Schedule a demo
  • Rewards:
    • Cashback (variable)
  • Monthly Fee: Three tiers with bespoke pricing
  • Features:
    • Up to 38 days interest-free with a potential $1m credit limit
    • Physical & virtual cards in 32 countries
    • Zero FX fees in 7 major currencies (1.99% FX thereafter)
    • Track carbon emissions with automated ESG reporting
    • Seamless receipts and automated accounting 
    • Global multi-entity expense management
  • Eligibility: 
    • Registered business in the UK or EEA
    • Have a minimum of €250,000 in one or more European bank accounts

Pros:

Cons:

Payhawk is so full of features that benefits like custom spending controls on employee cards, LoungeKey membership, and Visa concierge couldn’t fit the “Features” section. The corporate card should be seen as short-term spending with high limits which allows businesses to track mileage, create per diems, and manage out-of-pocket expenses. Payhawk’s rewards are potentially limited and it is predominantly focused on European-centric businesses.

Our view: Payhawk offers a large credit limit with a reasonable interest-free period (38 days), but this is where the credit ends. This makes it useful to tie over cash flow in the very short term, all whilst benefiting from cheap FX and cashback. Its standout features are its ESG compliance automation and expense management for global businesses.

Pros:

Cons:

  • Best for: International, ESG-compliant businesses 
  • Intro Offer: Schedule a demo
  • Rewards
    • Cashback (variable)
  • Monthly Fee: Three tiers with bespoke pricing
  • Our view: Payhawk offers a large credit limit with a reasonable interest-free period (38 days), but this is where the credit ends. This makes it useful to tie over cash flow in the very short term, all whilst benefiting from cheap FX and cashback. Its standout features are its ESG compliance automation and expense management for global businesses.
  • Features
    • Up to 38 days interest-free with a potential £500,000 credit limit
    • Physical & virtual cards in 32 countries
    • Zero FX fees in 7 major currencies (1.99% FX thereafter)
    • Track carbon emissions with automated ESG reporting
    • Seamless receipts and automated accounting 
    • Global multi-entity expense management
  • Eligibility
    • Registered business in the UK or EEA
    • Have a minimum of €250,000 in one or more European bank accounts

Differences between a business credit card and a personal one

Business credit cards and personal credit cards are for different purposes. Although they are both ways to access credit at a pre-agreed interest rate, personal credit cards are for personal use whilst business credit cards are for business spending only.

It is legal to make business purchases on a personal credit card, but the opposite is not true (it is not legal to make personal purchases on a business credit card). The main benefits of a business credit card compared to a personal one are:

  1. Higher credit limits: Business cards often have higher credit limits.
  2. Tax deductible fees: Business card expenses are tax-deductible but personal card expenses are not.
  3. Employee cards available: Business owners can give additional cards to employees (normally free or £5 each) which can have their own spending limits.
  4. Expense tracking: Business cards make it far easier to categorise business expenses and their reporting and software integrations are normally better than offered with personal cards.

Who can get a company credit card?

Whilst all business credit card providers differ slightly in their eligibility and application requirements, there tends to be a few shared eligibility rules:

  • Be aged 18 or over
  • Be a UK resident
  • Have a UK registered company
  • Have an appropriate credit history

Some providers may also have certain criteria around directors, business structure, bankruptcy and County Court judgements, so make sure you read the small-print. A few providers offer credit cards to start-ups but most require a minimum trading period and minimum monthly turnover.

Different credit lines

Business and personal credit lines are separate, although don’t be surprised if your personal credit history is checked when applying for a business credit card. Additionally, there tends to be a higher agreed credit limit for business credit cards compared to personal ones. If you’re incorporated, then the business credit card activity will typically impact only the business’s credit score.

Features

Business credit card features are geared towards business activity, meaning some providers will issue individual employee cards, accounting integration, travel spending rewards, and discounts with B2B products and services. The biggest overlap between personal and business cards is with travel rewards.

What types of business credit cards are available?

Not all business credit cards have the same value proposition. Some cards are focused on low rates, meaning businesses can access credit at a low APR, or for a long interest-free period (i.e. 56 days).

There are also cards directed towards earning rewards. These usually scale with your spending, because the card issuer earns a percentage of the transactions processed (AMEX is known for charging more than Visa which is a big reason behind their large rewards). These rewards tend to be either points, which can then be spent with partner businesses, or through cashback, which is direct recompensation for a small portion of your eligible transactions (e.g. for every £1 you spend, you get 1p back in cash).

Finally, travel business credit cards partner closely with airlines and travel point companies like Avios. Some of the rewards come from spending, while some are in the form of travel insurance.

How popular are business credit cards with SMEs?

Generally, larger businesses are more likely to leverage their company than smaller businesses. This is likely down to having higher confidence in repayment (longer revenue track records), better creditworthiness, and existing relationships with lenders.

For credit card usage specifically, 9% of sole traders in Q4 2022 reported using credit cards, while this tripled to 28% for businesses with 10-49 employees. Surprisingly, however, this isn’t a linear relationship as usage drops back down for businesses with 50-249 employees.

Type of finance used Total SMEs Sole-traders 1-9 employees 10-49 employees 50-249 employees
Bank loan 12% 10% 18% 24% 8%
Bank Overdraft 10% 9% 12% 16% 8%
Credit cards 11% 9% 15% 28% 15%

 

Source: SME Finance Monitor (PDF)

What are the benefits of using business credit cards?

There are several key benefits to using a business credit card. 

Firstly, they can improve expense management and tracking. They enable SMEs to easily separate business from personal expenses so business expenses are not missed. 

Similarly, you can separate out specific types of business spending on different credit card accounts (i.e. cards only used for online advertising or fuel). Integrating with popular cloud-based accounting software can improve the separation and tracking of these expenses further 

Secondly, business credit cards are often one of the best ways to access credit if the balance is paid in full each month before interest is charged. Cash flow is often a big challenge for SMEs and commercial credit cards provide flexible finance with an interest-free period of just under two months typically..

Thirdly, business credit cards often offer genuinely valuable rewards such as cashback or air miles. Some of these rewards are universal, such as discounts and free access to other services or insurance. Many rewards, however, scale up as your spending increases, such as spending on travel.

Some additional benefits include: Building your business credit score, monitoring employee spending, and having fees that are tax deductible.

What are the disadvantages?

Business credit cards generally come with higher interest rates than business loans. While they’re more flexible, they can cost more for businesses with longer amortisation periods. There is also the threat that the flexibility itself can lead to accidental high utilisation or late payments, and this can negatively impact your business credit score. 

They can often be more expensive than credit lines and have smaller credit limits, despite offering similar repayment flexibility benefits.

When it comes to purchase protection, they are generally worse than personal credit cards. Business credit cards are not covered by Section 75 of the Consumer Credit Act, which protects purchases up to £30,000. Some providers do offer their own guarantees, however.

How do I find the best credit card for my business?

While the best credit card will depend on the business, the process of elimination remains the same. Businesses are looking for value, meaning you need to get a good grasp of the total costs and pit them against the rewards. 

  • APR and annual fee: Focus on the basic costs of a card, such as the interest rate and annual fee. This will help create a rough annualised estimate of the costs. 
  • Hidden fees: Check for how expensive the additional fees are, such as FX and withdrawals, and then assess how frequently these will apply to you.
  • Interest-free period: Check to see if the card has an interest-free period and if so, for how long? This may make the potentially high APR less relevant for some companies.
  • Deal-breaker features: Some benefits and features will be non-negotiable for you, such as being able to issue 20 employee cards or integrate the account with Xero. This can narrow down your options to just a few.
  • Scope and relevancy of rewards: Check whether the cashback is uncapped, or if the rewards scale beyond the introductory offer. However, it’s equally important to choose rewards that are most relevant to your business and activity. Discounts are good, but are they partnered with businesses you’re likely to use?
  • Attainable rewards: You don’t want to have to try and spend enough to attain rewards, so ask yourself whether they’re likely in your “worst-case” scenario of spending less than usual. 
  • Final judgement: After weighing the estimated costs with the rewards and ruling out non-negotiable features, you may still have several options. Make sure to take customer service, UI, reputation, and online reviews into account. 

What are the alternatives to a business credit card?

How do I get a business credit card?

Here is a rough step-by-step guide through the process of getting a business credit card.

  1. Check your credit score: Getting rejected for credit cards can often impact your credit score, so make sure to gauge your likelihood of approval.
  2. Choose according to your needs: Instead of choosing the so-called “best” or highest rewards, assess whether you’re going to make use of the purported rewards and features.
  3. Research: Before deciding on a company, check information that goes beyond APR and credit limits. Read the small print to understand hidden fees and agreements.
  4. Gather necessary documents: Prepare your personal identification, proof of business registration, and any other information that will be required.
  5. Apply and wait: Avoid applying for multiple cards simultaneously. Once approved, read through the agreement terms carefully. Approval often takes between one and two weeks.

Frequently Asked Questions (FAQs)

The chart below also shows how the percentage of small businesses using credit cards has varied over time since Q4 2020.

Yes, self-employed individuals can get a business credit card in the UK. However, there are some issuers that tailor cards to limited companies only.

Yes, there are credit cards that accept new businesses. However, there are still plenty of issuers that have minimum turnover requirements, so these will likely be an obstacle for start-ups.

A business credit card can affect your personal credit score, but mostly for those using one as a freelancer or self-employed person. For limited companies, it’s possible that a poorly managed business credit card could impact personal credit scores, but this will depend on some lesser-common factors.

Many credit cards have interest-free periods, but these are often shorter than those available for personal credit cards. Juggling 0% balance transfers is a strategy more common with personal credit cards.

Yes, but it will depend on how bad your or your business’s credit score is, and the eligibility criteria of the issuer. Furthermore, it’s likely to result in higher APR.

This depends on the issuers, but all business credit cards will require you to at least be 18, live and operate in the UK, and use the card for business purposes.

Corporate credit cards are designed for large companies with significantly higher annual turnover and multiple employees.

Charge cards typically require the balance to be paid in full by the end of each month, while credit cards often have a minimum payment amount that is a small percentage of the total outstanding.

Yes, you can get more than one business credit card. This could yield more rewards, but it may negate the benefits of streamlining your company’s cash flow.

Typically, yes. This is due to the perceived risk being higher, as commonly there is no personal liability for the account holder at a limited company.

Absolutely yes, this is one of the main advantages. The most common rewards are reward points (gained through spending) and cashback.

If you’re self-employed then yes, it will directly impact your personal credit, such as your overall utilisation ratio. For an owner of a limited company, the business has its own credit profile.

Yes, this is perfectly fine as long as it is included in your financial reporting. However, it can bring issues, such as separating personal and business spending.

Assess your needs and spending first. Then, assess whether each card’s rewards would not only pay for itself, but leave you with the most benefits after accounting for fees. Finally, take into consideration reviews, customer service, and your experience with the software.

Ensure that you meet the eligibility criteria, gather the necessary documentation, and then apply. Approval typically takes between one and two weeks.

In theory, no, but many credit card issuers require you to have an existing business current account at their bank.

Recommended Business Credit Card