6 Best Business Credit Cards (some with built-in instalment options) in the UK to Manage Your Company Costs, Expenses, Finances, and Cash Flow

If you have searched your way till here, you probably already own a business. You would also agree that cash flow management is critical when managing one. How many well-running companies have we witnessed shutting down due to poor financial management? We would say countless. And this is why we believe cash flow management lies at the heart of efficient business management. 

Why Get a Business Credit Card?

One key aspect of financial management in a business is purchasing things on credit. It allows you to buy something and pay for it later, which eases your corporate cash flow. A great way to buy things on credit is to own a business credit card. 

Are Business Credit Cards Commonly Used?

According to the Financial Conduct Authority in the UK, there were approximately 500,000 issued business cards in 2018. So if we talk about credit card usage, there were about 320.7 million transactions in April 2022. And this goes on to emphasize that individuals and entrepreneurs in the UK use credit cards quite often. And it is all because they are an effective way to manage cash flow, personal or corporate. 

Which New Business Cards Offer The Best Value?

The business credit market is really saturated. However, it is also true that some cards outpace the others. To make your hunt for the best new business credit cards easier, we have compiled a list of some fantastic products.

American Express Business Basic Card

Who doesn't know American Express? It is a leading institute in the world of finance and also offers some remarkable business credit cards. 

With numerous credit card options, it has a variety that you can pick and choose from depending on your business needs. We particularly liked the Business Basic Card.

It offers a generous 42 days payment period with no annual fees. 

The best thing about this card is that it has no spending limit. The basic business card gives you more spending power and flexibility—seamlessly adjusts to your business needs.

The customer service is also top-notch. No matter where you are, you can get support on the phone and in your own language if you run into a problem.

Debite

If you are looking for a business credit card that goes the extra mile in offering benefits, then this is the right pick for you. As a plus, Debite offers tailored financing programs to the high-growth and early-stage startups in the UK. Debite business credit card offers a generous 4% cash-back reward which can be a nice side effect of using the card.

With Debite, you can spread your payments between 3 to 12 months instalments which gives quite the ease in your business cash flows. Moreover, this credit card gives you credit limits that are twenty times higher than what traditional institutes offer. 

Also, the application procedure is super simple, with the process only taking five minutes to complete and another 24 hours to get approved. How easy is that?

Debite is the new answer for all your business credit needs.

HSBC Business Credit Card

HSBC is a renowned financial institute based in the UK but comparatively new in the business credit card domain. Although new, their credit card is full of exciting offers. For example, the first year is free of any fee whereas later they charge £32 annually. 

HSBC Business Credit offers customized card limits based on your business needs. They also provide additional cards, which are usually available on request. In addition, the company gives you an interest-free period of 56 days coupled with flexible repayment options.

HSBC business credit cards are highly secured, so you can use them online and anywhere in the world with complete peace of mind.

Royal Bank of Scotland Business Plus Credit Card

RBS is another renowned financial institution that offers some outstanding services. However, it only provides business credit cards to customers with an existing business bank account. 

They give out two business credit cards: 

• The Business credit card 
• Business Plus credit card

Our focus will be on the business plus card. If a 56-day interest-free credit period sounds good, check what else the card offers.

The Business Plus card charges a variable APR of 29%, and its annual fee is £70. In addition, the Business Plus credit card gets a cashback facility of 2% on certain eligible purchases.

Santander Business Cashback Credit Card

This business credit card is perfect for all your business requirements. The company offers a 1% cashback credit card to businesses with two directors, partners, or owners. There are no charges on purchases made abroad. Like RBS, you have 56 days of interest-free credit time, but the card has a £30 annual cost. 

The payment plans are flexible and straightforward, making it easier for businesses to manage and plan their finances. 

Barclaycard - Business Plus Cards

Barclaycard also dishes out two business credit cards.

• Select Charge Card
• Business Credit Card

Our favorite is the Business Credit Card, particularly convenient if you often travel because it offers 3% cash back on business travel without any capping. You will also get other travel-related perks like better exchange rates, more discounts on big brands, etc. Moreover, with Barclay Business Credit Cards, you can easily manage and keep track of your spending online. 

Barclaycard offers flexible borrowing, and there are many introductory offers available that you can look into. In addition, you can log into their website, which also provides a card selector tool that will help you choose the right card for your business needs. 

Conclusion

Managing business cash flow can sometimes be a real feat. However, getting the right business credit card could be the first step towards better handling your business finances.

In terms of business cards, the market has a lot to offer. To make your search easier, we have mentioned some top picks above that you can look into. In addition, some business credit cards provide low-interest rates, whilst some offer great cashback rewards.

You just have to pick the one that suits your business needs, and you are good to go! 

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