nigel woollsey

Nigel Woollsey

Online Writer
Published: 12/02/2019

At a glance

  • Lets staff make purchases or helps self-employed/small business owners manage cash flow.
  • Most cards charge an annual fee, with an extra charge per additional cardholder.
  • Make sure you repay the balance in full, or a business credit card can end up being expensive.
  • Read the small print for any eligibility restrictions before making an application.

How long before purchases made on my business credit card accrue interest?

Most business credit cards have a grace period – typically between 45 and 59 days – in which you can repay purchases made on the card without accruing interest. This grace period can also give you some payment flexibility if you have a particularly expensive month.

How do I find the right business credit card for me?

When comparing credit cards, you should look at the APR, which includes the annual fee you’ll have to pay, as these can vary considerably. Providers can also charge for each additional card you need on the account. Some business credit card providers will require you to be banking with them already in order to be eligible for a card. Others will only offer a card where your turnover is above, or below a certain level.

Moneyfacts tip

Moneyfacts tip nigel woollsey

Credit cards can be an expensive way to borrow. So, in order to get the most out your card while paying the least, make sure you repay the balance in full before you start being charged interest.

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

credit cards

At a glance

  • Lets staff make purchases or helps self-employed/small business owners manage cash flow.
  • Most cards charge an annual fee, with an extra charge per additional cardholder.
  • Make sure you repay the balance in full, or a business credit card can end up being expensive.
  • Read the small print for any eligibility restrictions before making an application.

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