Best Business Credit Cards UK – Top 10

What is a Business Credit Card?

A business credit card is a credit card specifically designed for business expenses and cash flow management. It provides businesses with a convenient and flexible way to make purchases, manage expenses, and build credit.

Key Features of Business Credit Cards

1. Separate credit lines: Business credit cards have separate credit lines from personal credit cards, allowing businesses to manage their finances independently.
2. Higher credit limits: Business credit cards often offer higher credit limits than personal credit cards, catering to larger business expenses.
3. Rewards programs: Business credit cards often come with rewards programs that earn points or cashback works on business spending, which can be redeemed for travel, merchandise or statement credits.
4. Business expense tracking: Business credit cards provide detailed statements and online account management tools to track and categorize business expenses.
5. Additional benefits: Some business credit cards offer additional benefits, such as travel insurance, extended warranties, and purchase protection.

Eligibility for Business Credit Cards

1. Business registration: The business must be registered and have a legal structure (sole proprietorship, partnership, limited company, etc.).
2. Business bank account: The business must have a separate bank account to link to the credit card.
3. Good credit history: The business owner or a designated authorized user must have a good personal credit history.
4. Business income: The business must have a sufficient level of income to support the credit card payments.
5. Business documents: Documentation may be required to verify the business’s existence and financial status.

Benefits of Using a Business Credit Card

1. Improved cash flow: Business credit cards allow businesses to spread out expenses over time, improving cash flow management.
2. Building business credit: Responsible credit card usage helps establish a strong business credit history, which can be beneficial for future loans or financing.
3. Rewards and cashback: Earning rewards or cashback works on business spending can provide cost savings or additional benefits.
4. Expense tracking and categorization: Business credit cards provide detailed statements and online tools to track and categorize expenses for tax purposes and financial management.
5. Additional protections and benefits: Some business credit cards offer travel insurance, purchase protection, and extended warranties, providing additional peace of mind.

Considerations Before Applying for a Business Credit Card

1. Business creditworthiness: Assess your business’s creditworthiness and ensure you meet the eligibility criteria for the desired credit card.
2. Credit card fees: Review the annual fees, credit card interest rates, and other charges associated with the credit card to determine if it fits your business’s budget.
3. Rewards and cashback programs: Evaluate the rewards or cashback programs offered by different cards and choose one that aligns with your business’s spending patterns.
4. Business needs: Consider the specific features and benefits offered by different cards to select one that best suits your business’s needs and requirements.
5. Responsible credit usage: Remember to use the business credit card responsibly and make payments on time to avoid high-interest charges and potential damage to your credit score on your business credit history.

Best Business Credit Cards UK – Top 10

1. American Express Business Platinum Card

• Best for businesses of all sizes with high spending and travel needs.
• Welcome, offer of 60,000 Membership Rewards points if you spend £30,000 in your first 6 months.
• Annual fee of £595.

Apply Here

2. American Express Business Gold Card

• Best for businesses of all sizes with moderate spending and travel needs.
• Welcome offer of 20,000 Membership Rewards points if you spend £3,000 in your first 3 months.
• Annual fee of £195.

Apply Here 

3. Barclaycard Business Select Cashback Credit Card

• Best for businesses that want to earn cashback on all of their spendings.
• 1% cashback on all eligible business spending.
• No annual fee.

 

Apply Here

4. Capital on Tap Business Credit Card

• Best for businesses with no credit history or a poor credit score.
• No annual fee.
• Variable APR of 27.9%.

 

Apply Here

5. Metro Bank Business Credit Card

• Best for businesses that want a low APR.
• 0% introductory APR on credit card purchases for the first 12 months (then 24.9%).
• Annual fee of £199.

 

Apply Here

6. Santander Business Cashback Credit Card

• Best for businesses that want a combination of cashback and rewards.
• 1% cashback on all eligible business spending.
• Welcome offer of £100 cashback if you spend £1,000 in your first 3 months.
• Annual fee of £24.

Apply Here

7. HSBC Business Vantage Credit Card

• Best for businesses that want a simple and straightforward credit card.
• No annual fee.
• Variable APR of 24.9%.

 

Apply Here

8. RBS Business Plus Credit Card

• Best for businesses that want a credit card with a range of travel and insurance benefits.
• Up to 5x Avios points on travel and 1x Avios points on all other spending.
• Annual fee of £199.

Apply Here

9. NatWest Business Select Credit Card

• Best for businesses that want a credit card with a good range of benefits.
• Up to 5% cashback on selected business categories.
• Annual fee of £180.

 

Apply Here

10. Lloyds Bank Business Platinum Credit Card

• Best for businesses that want a premium credit card with a range of exclusive benefits.
• Up to 5% cashback on selected business categories.
• Annual fee of £249.

Apply Here

FAQS on Best Business Credit Cards UK

1. Can I Get a Business Credit Card in the UK?

Yes, you can get a business credit card in the UK if you have a registered business and meet the eligibility criteria of the card provider. The eligibility criteria may vary depending on the card provider, but typically they will require you to have a business bank account, a good business credit history, and a minimum turnover.

2. Which Bank is Best for Business Credit Card?

There is no single “best” bank for business credit cards, as the best card for you will depend on your individual needs and business expenses. However, some of the top-rated business credit cards in the UK include:
• American Express Platinum Cashback
• Barclays Select Cashback
• Capital on Tap
• Santander Business Cashback
• HSBC Business World Elite
It is important to compare the features and fees of different cards before applying to find the one that is right for you.

3. Can I Open Credit Card for Business Account?

Yes, you can open a credit card for a business account. A business credit card is a type of credit card that is specifically designed for businesses. It can be used to make business purchases, such as supplies, equipment, and travel expenses. Business credit cards typically have higher credit limits than personal credit cards and may offer other benefits, such as cashback rewards or travel insurance.

4. Is a Business Credit Card a Hard Pull?

Yes, applying for a business credit card will typically result in a hard pull on your business credit report. This means that a record of your application will be added to your credit report, which can be seen by other lenders. A hard pull can temporarily lower your credit score, but the impact is usually small and temporary.