Which business credit cards are best for doing business in the UK? Bankchart.co.uk offers you a list of the best offers on the market. Our analysts have already done the main work for you - they analyzed the conditions of virtual, secured and other types of business credit cards in the UK market and compiled a list of the best business credit cards. Just follow the links, read the terms and conditions, and apply for the card you like best.
Types of credit cards for businesses:
- Cashback Business Credit Cards: These cards offer cashback rewards on eligible business expenses. You earn a percentage of your spending back as cash rewards, which can help offset business costs.
- Rewards cards allow you to earn points, miles, or other rewards for your business spending. These rewards can be redeemed for travel, merchandise, gift cards, and more.
- Travel Business Credit Cards provide benefits such as travel insurance, airport lounge access, airline miles, and other travel-related perks.
- Low-Interest Business Credit Cards: offer a lower ongoing interest rate, making them suitable for businesses that may carry a balance from month to month.
- Balance Transfer Business Credit Cards allow you to transfer balances from other credit cards to consolidate debt or take advantage of lower interest rates for a limited time.
- Credit Builder Business Credit Cards are designed for businesses with limited or damaged credit, these cards help improve credit scores over time with responsible usage.
- Charge cards require you to pay the balance in full each month, making them suitable for businesses that want to avoid revolving credit and interest charges.
- Corporate Business Credit Cards are geared toward larger businesses, corporate cards offer features like centralized billing, expense reporting, and customized spending controls for employees.
- Prepaid credit cards for businesses
Business loan calculations for 3 years (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 500,000 | 8.00% | 61,667 |
| 500,000 | 8.10% | 62,438 |
| 500,000 | 8.20% | 63,208 |
| 1,000,000 | 9.00% | 138,750 |
| 1,000,000 | 9.10% | 140,292 |
| 1,000,000 | 9.20% | 141,833 |
| 2,500,000 | 10.00% | 385,417 |
| 2,500,000 | 10.10% | 389,271 |
| 2,500,000 | 10.20% | 393,125 |
| 5,000,000 | 11.00% | 847,917 |
| 5,000,000 | 11.10% | 855,625 |
| 5,000,000 | 11.20% | 863,333 |
How do I choose and apply for the best business credit cards in the UK?
- Consider how you plan to use the credit card. Are you looking for rewards, a low interest rate, or a combination of features? If rewards are important to you, decide whether you prefer cashback, travel rewards, points, or other perks.
- Consider annual fees, some cards have yearly charges, while others don't.
- If you anticipate carrying a credit balance, consider the interest rates.
- Assess the credit limit offered by the card and ensure it aligns with your business's spending needs.
- Review the various fees associated with the card, including foreign transaction fees, cash advance fees, and late payment fees.
- Some cards come with introductory offers, such as bonus rewards or interest-free periods. Evaluate these offers as they can provide short-term benefits.
- Look for additional features like travel insurance, purchase protection, or expense management tools that could benefit your business.
- Some cards offer features specific to certain business types, like travel-focused rewards for frequent business travelers or cashback on office supplies.
- Look into reputable credit card issuers and banks known for good customer service and transparent terms. We have collected such best business credit cards in the table above. Just choose the one, which suits your business needs best.
- Once you've decided on a card, apply online through the issuer's official website. Fill out the application accurately and provide all necessary information.
Who is eligible to apply for business credit cards in the UK?
To apply for an American Express or business credit cards with high limits, most issuers in the UK put forward the following criteria:
- the company has a UK bank account
- the firm has no County Court Judgements
- the employee is over 18 and has a permanent living address in the UK
