Compare business credit cards with no annual fee

A business credit card with no annual fee is likely to appeal to start-up founders. You might not get all those appealing perks, but you'll enjoy greater flexibility and spending power.

1 - 5 of 5
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
Barclaycard Select Cashback Business Credit Card Mastercard
Min. limit £1,000, max. limit £25,000.
21.9% APR (variable)
Get 1% cashback uncapped on all your business spend and an additional 2% cashback on all spend with BT and EE. T&C's apply.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
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Capital on Tap Business Credit Card
Min. limit £1,000, max. limit £250,000.
29.9% APR (variable)
Earn 1% cashback for every £1 spent. Upgrade to Capital on Tap Business Rewards Card for £99 pa to choose between earning cashback or Avios and receive 10,000 bonus points when you spend £5,000 on your card in your first 3 months.
Representative example: When you spend £1,200 at a purchase rate of 26.4% (variable) p.a., your representative rate is 29.9% APR (variable).
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Juni Business Card (only available to ecommerce companies)
N/A (this product is a charge card).
Min. limit £10,000, max. limit £2,000,000.
N/A (this product is a charge card).
Made for ecommerce companies only. Earn up to 1% cashback on all eligible Juni card spend.

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Metro Bank Business credit card (only available to existing business customers)
Min. limit £500, max. limit not specified.
14.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a., your representative rate is 14.9% APR (variable).
Cashplus Business Credit Card Mastercard
Min. limit £100, max. limit £3,000.
29.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 29.94% (variable) p.a., your representative rate is 29.9% APR (variable).

Compare up to 4 providers

Approval for any credit card will depend on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

How do no annual fee business cards work?

A business credit card works in a similar way to a personal credit card, in that you’re given a tailored credit limit and will be charged monthly interest on your balance.

As these cards are designed specifically for work spending, your business credit score will be used to assess eligibility, and your business, not you, will initially be liable for debts incurred.

Provided you clear your balance in full each month, almost all credit cards offer up to 55 or 56 days interest-free each billing cycle. In other words, say you buy some new equipment for your office at the start of the month, then at the end of the month receive your statement and bill, if you pay off the full balance within the timeframe specified on the statement (typically up to 30 days), you’ll have benefitted from almost two months of interest-free credit on that purchase. If you only make the minimum payment, or just pay off part of the balance, then you’ll be charged interest at the card’s standard rate, however.

This flexibility means you can spend money when you need to rather than when that outstanding invoice gets paid. It’s generally cheaper than a business overdraft too.

Business credit cards with no annual fee are typically easier to be approved for. However, they’re also likely to have fewer perks than those that charge a fee.

What features do I need to consider?

Here are the main features to consider when comparing no-fee business credit cards.

  • Interest rate. This determines how much interest you’ll pay each month on outstanding balances. If you’re planning to pay off your balance in full each month, you’ll pay no interest and the card’s interest rate will therefore be less of a concern.
  • Eligibility. Each card is likely to come with its own requirements – typically involving years trading, turnover or number of staff.
  • Additional cardholders. With most business credit cards, you’ll be able to supply additional cards to employees. Check the terms associated with doing this though. Some card providers will charge a fee for this. Others have useful features, such as the ability to set different credit limits for different cards.
  • Other fees. OK, so there’s no account fee, but are there any non-sterling transaction fees or cash advance fees?
  • Perks and bonuses. Most credit card bonuses tend to be reserved for cards that charge an annual fee. These bonuses are explained below. If a no-fee card includes perks that you’re likely to make use of, this is a definite advantage.
  • Reporting tools. When it comes to tracking your spending, some banks are stuck in the dark ages. Thankfully, others come with better interfaces so you can see where the money’s going.

Is it ever worth paying an annual fee?

Many fee-charging business credit cards allow you to access bonuses which, depending on how extensively you use them, can outweigh the annual fee.

These perks can include the following:

  • Cashback. A percentage of your spending is added to your card as credit.
  • Reward points. Some cards earn points every time you spend, which can be redeemed with selected retailers.
  • Air miles. This is a reward points system that allows you to claim discounts or free flights with certain airlines. This could be particularly lucrative if you do a lot of business travelling.
  • Airport lounge access. Cardholders can relax in luxury in specific VIP airport lounges while they wait for their flights, at no extra cost to them.
  • Complimentary insurance. Many business credit cards include complimentary travel insurance and liability insurance for the account.
  • Expense tracking systems. Some cards make it easy to track your expenses by providing detailed analytical software.

If you’re planning to use your business credit card frequently, it might make sense to pay a fee to access one or more of these perks.

If you’re only planning to use your card for emergencies or when extra credit is required, a no-fee option will almost certainly be more suitable.

Ultimately, you need to calculate whether the value of the rewards on offer will outweigh the cost of the annual fee.

American Express often waives the annual fee in the first year, and you’re not obliged to keep the card for any given length of time. In fact, when you phone up to cancel a card, it’s not unheard of for the issuer to offer to waive the annual fee if it means retaining your custom.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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