Business credit cards without a personal guarantee

Ensure your personal assets remain secure while still getting the credit your business needs.

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Finding a business credit card with no personal guarantee can be difficult. After all, no one wants to issue a credit card and then get stuck with the debt if the business fails.

Despite this, you can still find no-personal-guarantee business credit cards.

We contacted American Express, which was able to confirm that there is no need for customers to sign a personal guarantee for any of its business cards.

Amex business cards

Table: sorted by representative APR, promoted deals first
Updated April 9th, 2020
Name Product Purchases Annual/monthly fees Credit limits Rep. APR Incentive Representative example
American Express Gold Business Card
N/A (this product is a charge card).
Year 1 - £0, Year 2 onwards - £125
Min. limit not specified, max. limit not specified.
N/A (this product is a charge card).
Earn 20,000 bonus Membership Rewards® points when you spend £3,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
American Express Platinum Business Card
N/A (this product is a charge card).
£595 p.a.
Min. limit not specified, max. limit not specified.
N/A (this product is a charge card).
Earn 40,000 bonus Membership Rewards® points when you spend £6,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
British Airways American Express Accelerating Business Card
22.9%
£210 per annum
Min. limit £1,000, max. limit not specified.
81.6% (variable)
Earn 1.5 On Business Points for every £1 spent with BA on eligible flights and 1.5 Avios for every eligible £1 spent on credit card. Earn an extra 3,000 On Business Points annually when £20K or more spent by card anniversary.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a. with a fee of £210 per annum, your representative rate is 81.6% APR (variable).
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We also contacted Barclaycard Business, which confirmed that none of their business credit cards require a personal guarantee.

Barclaycard Business credit cards

Table: sorted by representative APR, promoted deals first
Updated April 9th, 2020
Name Product Purchases Annual/monthly fees Rewards earn rate Rep. APR Incentive Representative example
Barclaycard Business Flex Credit Card Mastercard
24.9%
£0
N/A
24.9% (variable)
Business Rewards - giving a range of discounts and rebates (up to 66% off AA membership, save 20% on B2B marketing sites and access to 99 UK business credit reports for £75, 5% Avis rebate, 15% off Ryman's stationary, up to 15% off with APH, £60 driving credit and first year membership free with Zipcar, first year of FSB registration free, 20% off bPay by Barclaycard device, up to 15% off ecommerce website with cloudBuy, 5% rebate on online advertising spend with Bing, 10% off selected hotel reservations for business trips with booking.com, 4% rebate at over 5,000 hotels and 10,000 restaurants and 1% rebate at petrol stations at selected locations with the USA and Canada with Mastercard, 3% off business flights with flybmi and 25% off first £200 spend at Amazon Business).
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Barclaycard Business Select Credit Card Mastercard
0% for 3 months reverting to 19.9%
£42 per annum
N/A
28.6% (variable)
Business Rewards - giving a range of discounts and rebates (up to 66% off AA membership, save 20% on B2B marketing sites and access to 99 UK business credit reports for £75, 5% Avis rebate, 15% off Ryman's stationary, up to 15% off with APH, £60 driving credit and first year membership free with Zipcar, first year of FSB registration free, 20% off bPay by Barclaycard device, up to 15% off ecommerce website with cloudBuy, 5% rebate on online advertising spend with Bing, 10% off selected hotel reservations for business trips with booking.com, 4% rebate at over 5,000 hotels and 10,000 restaurants and 1% rebate at petrol stations at selected locations with the USA and Canada with Mastercard, 3% off business flights with flybmi and 25% off first £200 spend at Amazon Business).
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a. with a fee of £42 per annum, your representative rate is 28.6% APR (variable).
Barclaycard Business Premium Plus Credit Card Mastercard
0% for 6 months reverting to 14.9%
£150 per annum
N/A
49.4% (variable)
0.5% after £1 of yearly spend. Maximum of £400 cashback paid per year. Cashback paid Anniversary into Card Account. If less than £10 Cashback earned in any Cashback Year, it will not be credited to the account and will not be carried forward to the following year.
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a. with a fee of £150 per annum, your representative rate is 49.4% APR (variable).
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Updated April 9th, 2020
Name Product Purchases Annual/monthly fees Rewards earn rate Rep. APR Incentive Representative example
Toolstation Trade Card Mastercard
0% for 3 months reverting to 24.9%
£0
N/A
24.9% (variable)
0% for 60 days on purchases made at Toolstation and participating group companies.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Travis Perkins Trade Credit Card Mastercard
0% for 3 months reverting to 24.9%
£0
N/A
24.9% (variable)
0% for 60 days on purchases made at Travis Perkins and participating group companies.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
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What is a personal guarantee?

A personal guarantee is a legal promise made by a business owner or an organisation to accept the responsibility to repay the credit issued to their business in case it fails to pay its debt.

For a small corporation or a limited liability company that doesn’t have a credit history, the manager or stockholders typically personally guarantee that they’ll pay the debt in case the company goes bankrupt.

If you’ve just started your business and you’re not entirely sure how it’ll go, your personal assets and financial future could be at risk. A card without a personal guarantee helps ensure that your personal finances will be secure even if your business fails.

How can I get a card without a personal guarantee?

  • Compare the market. Some banks like Barclays don’t require customers to sign a personal guarantee. You could approach other lenders to enquire about their stance on this.
  • Negotiate. If you’ve been a long-time customer with your bank, you may be able to negotiate a card without a personal guarantee. Your chances are improved significantly if you have an excellent payment history, great business financials and low debt. Some banks may waive the personal guarantee after you’ve had the card for a few years or if you’ve built up your business credit score.
  • Meet the requirements. Another way is to meet the bank’s size and revenue requirements. Often times you can get past the personal guarantee if your business has a big enough revenue or a minimum amount of employees.

3 tips for using your business credit card responsibly

Follow these tips to limit the chances of falling behind on your repayments and risking your personal assets.

  • Control your spending. In times of slow sales, it may be tempting to overspend on your credit card to counteract this. However, once you’re unable to pay off your balance in full and interest payments begin to mount, it’s common to fall into a debt cycle that you can’t get out of.
  • Always pay in full. Try not to carry your balance from month to month. That way, you’ll have less pressure and you won’t be held liable for unpaid balances.
  • Limit authorised users. Since you’re liable for your business account, make sure to set up spending limits for your employees and authorised users, so you don’t get stuck with a higher balance than you can afford to repay.

Frequently asked questions

The bottom line

It’s difficult to find the perfect business credit card without a personal guarantee. In many cases, you’ll have to meet certain criteria and will often be limited to using the card on the issuer’s products or services.

Compare business credit cards to find one that’s right for you.

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