Compare The Best Business Credit Cards For Startups

We compare the best business credit cards for startups with low or no turnover

Written by
Business Credit Cards for Start Ups Harry Jones
Edited by
Business Credit Cards for Start Ups profile
Business Credit Cards for Start Ups Harry Jones

Written by
Harry Jones

Business Credit Cards for Start Ups profile
Edited by
Andrew Parry

Updated: 1st October

Recommended Business Credit Card Startups With Revenue

Business credit cards are one of the more accessible forms of finance for startups as they often have less stringent eligibility requirements than other types of business finance. However, they’re relatively expensive if they are not paid off each month and normally only a good option if they are paid off in full each month. While credit limits may be lower for startups compared to businesses with a longer trading history, they can still provide lucrative rewards, easy expense management, and interest-free periods for a minimal annual fee.

What are the Best Business Credit Cards for Bad Credit?

Card Name
Annual Fee
Rewards
APR
Eligibility
Apply
Capital on Tap - card
Capital on Tap
Free Rewards Card
£0
1% cashback uncapped
Rates as low as 15.22% APR
Representative APR of 36.19% (variable)
Director/shareholder ≥25% ownership
UK Ltd/LLP
£24k+ turnover
No recent CCJs
Apply Here
Capital on Tap - card
Capital on Tap
Business Rewards Card
£99 per year
1% cashback uncapped
Avios Points
Rates as low as 15.22% APR
Representative APR of 59.15% (variable)
Director/shareholder ≥25% ownership
UK Ltd/LLP
£24k+ turnover
No recent CCJs
Apply Here
Amex_Business_Gold_Credit_Card
American Express
Business Gold Card
£195 (first year free)
1 Reward point per £1
20,000 points on £3k spend
N/A (Charge Card)
UK Bank account
Permanent UK address
Apply Here
Amex_BA_Business_Credit_Card
British Airways
American Express Accelerating Business Card
£250
1.5x Avios per £1
2x BA points per £1
10,000 Avios per £20k spend
108.4% APR (variable)
28.5% purchase rate (variable)
UK Bank account
Permanent UK address
Apply Here
Barclaycard_Select_Cashback_credit_card_horizontal_may
Barclaycard
Select Business Cashback
£0
1% cashback uncapped
Free access to FreshBooks
Representative APR of 27.5%
£10k+ turnover
Good financial history
No recent rejections
Apply Here
metrobank-business-credit-card
Metro Bank
Business Credit Card
£0
None
18.90% APR
Metro Bank
business account
Apply Here
Card Name
Annual Fee
Rewards
APR
APR
Apply
Capital on Tap
Free Rewards Card
£0
1% cashback uncapped
Rates as low as 15.22% APR
Representative APR of 36.19% (variable)
Director/shareholder ≥25% ownership
UK Ltd/LLP
£24k+ turnover
No recent CCJs
Apply Here
Capital on Tap
Business Rewards Card
£99 per year
1% cashback uncapped
Avios Points
Rates as low as 15.22% APR
Representative APR of 59.15% (variable)
Director/shareholder ≥25% ownership
UK Ltd/LLP
£24k+ turnover
No recent CCJs
Apply Here
American Express
Business Gold Card
£195 (first year free)
1 Reward point per £1
20,000 points on £3k spend
N/A (Charge Card)
UK Bank account
Permanent UK address
Apply Here
British Airways
American Express Accelerating Business Card
£250
1.5x Avios per £1
2x BA points per £1
10,000 Avios per £20k spend
108.4% APR (variable)
28.5% purchase rate (variable)
UK Bank account
Permanent UK address
Apply Here
Barclaycard
Select Business Cashback
£0
1% cashback uncapped
Free access to FreshBooks
Representative APR of 27.5%
£10k+ turnover
Good financial history
No recent rejections
Apply Here
Metro Bank
Business Credit Card
£0
None
18.90% APR
Metro Bank
business account
Apply Here

Best Business Credit Card for Startups Generating Revenue: Capital on Tap Free Rewards Card

  • Annual Fee: £0
  • Cashback: Uncapped 1%
  • Intro Bonus: None
  • Interest-free period: Up to 42 days
  • Credit Limit: Up to £250,000
  • APR: As low as 15.5% (variable); representative 36.19% APR (variable)
  • Eligibility:
    • Be a director or shareholder with over 25% ownership
    • UK-based Ltd/LLP (not available to sole traders)
    • £24k+ annual turnover
    • No recent CCJs

With no annual fee and a high potential credit limit, Capital on Tap’s Free Rewards Card is ideal for startups that are already trading (there is a minimum annual turnover of £24,000).

This Free Rewards card has a simple, flat 1% cashback for all purchases and a potentially low APR. There are no FX or ATM fees, customer support is excellent, and employee cards are free and easily managed. Startups that are still figuring out their workflow and tech stack can also benefit from the discounted SaaS services offered.

Best Business Credit Card For Startups With Low Turnover: Barclays Select Business Cash Back

  • Annual Fee: £0
  • Cashback: Uncapped 1%
  • Intro Bonus: None
  • Interest-free period: 56 days 
  • Credit Limit: Subject to credit check and business finances
  • APR: Representative 27.5% APR (variable)
  • Eligibility: 
    • £10k+ annual turnover 
    • Good finances over the past year
    • No recent Barclays Card rejections in the past six months

The Barclays Select Business Cash Back card is another great option for startups with low turnover (their minimum annual turnover is only £10,000). It’s a free card with low eligibility criteria and the 27.5% (variable) representative APR is relatively competitive compared to other cards although we’d not recommend any of these cards unless you can pay off the balance in full each month avoid the interest charges.

With 1% uncapped cashback, favourable credit terms, and a FreshBooks accounting plan, it’s a highly competitive card despite the high FX fees and longer onboarding process. If you need the 56 days of free interest and have been trading for over one year, this is a great option.

Best Startup Business Charge Card for Rewards: American Express Gold Card

  • Annual Fee: £195 (first year free)
  • Cashback: None
  • Intro Bonus: 
    • £0 annual fee for the first year
    • 20K Membership Reward Points when you spend £3,000 in the first 3 months.
  • Interest-free period: 54 days
  • Credit Limit: Subject to credit check
  • APR: N/A, this is a chargecard
  • Eligibility: 
    • UK Bank account
    • Permanent UK address
    • No welcome bonus if you’ve recently used Membership Rewards on another card

The Amex Business Gold card is a fantastic option for startups that have high monthly expenses that they can earn rewards on (see more on our recommended business credit cards with rewards here). The first year has no annual fee so it is possible to collect the rewards on your business expenses before cancelling the card before the £195 annual fee kicks in. 

When expecting high amounts of spending, it’s possible to earn 1 point per £1 spent, a possible 20K points bonus, as well as a referral scheme and access to global travel insurance. However, the card becomes expensive after the first year and the balance must be cleared by the end of every month. The card is ideal for day-one startups, or even sole traders, provided they’re frequent travellers and/or high spenders.

What are the main eligibility criteria for business credit cards?

Almost all business credit cards will require you to be a UK resident and have a UK-registered business. Most will also require at least a moderate credit score (if you have poor credit score see list of business credit cards for companies or directors with a bad credit history

Some card providers accept sole traders, while others require you to be the director or owner of a limited company. Less than half of the lenders require a minimum turnover, but many high street banks want you to have an existing current account with them. Finally, recent County Court Judgements can be an issue for some providers.

Advantages and disadvantages of using a credit card in a startup business

Pros

Cons

Ultimately, credit cards are a highly useful financial tool when used in a very controlled way. Rewards, streamlined accounting and useful features can be accessed for next to no cost when used right. They carry risks, though, meaning credit cards only have a net benefit when used diligently. 

Do you need a minimum card turnover to get a business credit card?

The majority of cards do not have a minimum turnover requirement, such as American Express and many high street banks. For providers that do, such as Capital on Tap, they are typically low, such as £2,000 per month.

FAQs

Yes, most business credit card providers are welcome of new businesses. A personal guarantee may be required to offset the risk or have the person behind the application as the primary evaluation (e.g., a personal credit check). Many high street banks review your existing personal current account with them.

Without a business credit history, your personal credit history becomes more important. A good personal credit score can give you a better chance of approval. Recent financial data on the business may also be used to build your case.

Yes, many credit cards are targeted to startups by offering introductory bonuses, zero annual fees or first-year fee waivers, low eligibility criteria and discounts to SaaS products. Generally, credit cards are accepting of brand new startups but may offer a heightened APR or lower credit limit than established firms..

Yes, it’s common for credit cards to accept startups but under a low credit limit agreement. This way, the business can prove itself as it grows, with scope for agreeing better terms in the future.

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