Best credit card for small business?

[bizzbuzz12]

Hello everyone,

I am looking for the best credit cards to use for small businesses of around 2-4 employees. I have found some "card finders" online that just list out options, but haven't been able to find a critique of cards anywhere. Do you have any suggestions for 1. the best cards or 2. a place to read reviews?

Thanks!

 

[smo]

We have a bank of scotland corporate mastercard - cant really complain, we've had it 2 years and clear the balance by DD every month

 

[jon.jenkins@smartaccounta]

Hi bizzbuzz12 I have always found that most clients just take a business credit card with the bank they have their current account with which does not normally yield the best APR. It can however be quote practical as your own bank is normally able to give you a credit facility without you having to jump through to many hoops.

Nearly every business credit card I have come across will take a DD 14 days after the statement date which does not actually give you much in the way of credit.

The reason you will probably not find to many reviews on business cards is because people stick to the same as their current account and do not shop around that much. I am guilty of this with NatWest.

 

[bizzbuzz12]

Thanks to both of you. It makes sense to stick with my personal bank I guess since I do have a relationship with them already. So perhaps this is "too much to ask" of a card... but i was hoping for a card that got me rewards, like miles or points, like personal credit cards do. Have you ever heard of options like that?

 

[jon.jenkins@smartaccounta]

Yes that is an option with some cards and I do recall a while back that you could get air miles on certain credit cards but I think it was an american company I worked for. I know that you can get some rewards with AMEX but I would expect that as there charges are so high.

 

[smo]

I'm not aware of any business cards which do rewards, you will also find most if not all business/corpoorate cards have a yearly charge on them.

 

[spicetheice]

Hello everyone,

I am looking for the best credit cards to use for small businesses of around 2-4 employees. I have found some "card finders" online that just list out options, but haven't been able to find a critique of cards anywhere. Do you have any suggestions for 1. the best cards or 2. a place to read reviews?

Thanks!

Barclay Card is among the best. I have been using it for a couple of years now and there is no reason to complain! Even the interest rate is low compared to the other cards.

How much are you expecting to spend monthly with this card? I suggest you keep a specific limit in mind to avoid over-spending and paying the interest. One more thing - if you have a savings account in a building society or a bank, then you might be eligible for a free card as well. Its better to check out with them. Nowadays many banks and societies offer free credit cards to small business owners who open a new account.

 

[David Griffiths]

Barclay Card is among the best.

I've had business and personal Barclaycards on three separate occasions and I wouldn't touch them with a bargepole.

 

[spicetheice]

I've had business and personal Barclaycards on three separate occasions and I wouldn't touch them with a bargepole.

Haha, yes, some of the people I know have also had the same opinion. Any issues with HSBC? It seems like a pretty good one.

 

[David Griffiths]

Haha, yes, some of the people I know have also had the same opinion..

Yet you still said it was among the best.:|

 

[ART Accounting]

Bizzbuzz12

As you can see from the above comments, everyone has different opinions and they are inevitably based on good/bad experiences.

One bad experience usually puts people off for life!

I would initially approach your bank and see what they have to offer, as there will be fewer ML/credit check hoops to jump through. In my experience also, most of my clients business credit card balances are cleared in full within 14 days of the statement date. This generally means the APR doesn't matter.

I was only looking at some corporate Barclaycard statements yesterday and the annual fee appears to be £32.

 

[smo]

Haha, yes, some of the people I know have also had the same opinion. Any issues with HSBC? It seems like a pretty good one.

My experience with HSBC was shockingly bad, particuarly their credit card...barclaycard on the other hand i've used for over 12 years and love it, never a problem

 

[spicetheice]

Yet you still said it was among the best.:|

Yes, because most people I know have never faced any problems including me. I guess, everyone has a different story!