Small Business Credit Cards

A credit card is often essential for small business owners to enable them to purchase items quickly and are unsecured against business assets.

There are many credit card companies that offer new and existing businesses the opportunity to get a corporate card with great offers and fast approval you can apply for your card even if you have bad credit as a sole trader. Here are the best deals.

Business Credit Card Offers and Comparison

Although there is still a credit crunch in place it is wise if you keep your personal and business expenses separate for VAT and accounting purposes and that's why it's advisable to get a business credit card even if you are trading as a sole trader or in a partnership. Of course if you have a limited company you should have cards in the name of your company.

There are few offers on the market place at the moment but when comparing credit cards you should look out for the following:

Does it charge an annual fee ?
What is the annual APR if you don't pay the balance off in full
Are there any introductory rates such as 0% for purchases for a year
Are there any balance transfer rates like with personal cards?

The MBNA Business Cash Back Credit Card

The MBNA business credit card with cash back is ideal if your spend a lot on credit cards as it offers 0.5% cash back on all purchases and 1% cash back on fuel charges. It operates like any other cards and has the following major benefits:

0% p.a. on balance transfers and credit card cheques for 9 months
0% p.a. when transferring cash into your current account for 9 months
FREE Purchase Protection Insurance* and Employee Misuse Insurance*

The MBNA Business Credit Card

The MBNA business credit card has no annual fee and is ideal to manage your daily business expenses.

It operates like any other cards and has the following major benefits:

0% p.a. on balance transfers and credit card cheques for 12 months
0% p.a. when transferring cash into your current account for 12 months
No annual fee
0% p.a. on card purchases for 3 months
Standard annual rate of 15.9% p.a. (variable) thereafter
FREE Purchase Protection Insurance* and Employee Misuse Insurance*

Instant Business Credit Card

Both of the above offers can be undertaken online and we highly recommend the MBNA business credit cards which are visa cards so are widely accepted and offer fraud protection on purchases like your personal cards. Both offer a fast way to get a business credit card easily and are not secured on your business assets (ie: they are unsecured).

MBNA also offer discounts for their members which change from time to time but currently include 50% off business week magazine, 10% discount off Hertz car rentals and 35% discount off IHG hotel group - great to make your business profits go that much further.

You also get full online credit card banking with MBNA so you can manage your account, pay your bill and add additional card holders onto your account.

Business Credit Card Comparison

Here's a comparison of other cards available. All banks offer credit card for businesses including HSBC, Barclays Bank (Barclaycard), NatWest and Capital One. At the time of publication the following offers existed (which is why we recommend MBNA above):

Barclaycard Business - Standard (Annual fee £32, APR 19.9%) or Gold (annual fee £78, APR 26.9%) - with £25 default charges for both cards - these are very high interest rates.
HSBC Business Credit Card - Annual fee £32 with an APR of 15.9% effective - default charges £12
RBS Business Credit Cards - standard (Annual fee £32 APR 22% ) Premium (Annual fee £79 APR 29.8%) please be advised according to RBS website cash advances are charged at 41% - default charges £12

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