Understanding Business Credit Cards
Business credit cards are financial products issued by banks specifically for business purposes. They assist businesses in managing finances, tracking expenses, and often offer rewards on business-related purchases. Key benefits include managing cash flow, covering short-term expenses, and earning rewards on purchases. Learn more with our Business Loans.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
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What are the benefits of a business credit card?
The main advantages of business credit cards include immediate credit access, enhanced tracking, potential improved credit ratings, and rewards programs. We specialise in offering solutions with competitive borrowing amounts, quick decision speeds, and advantageous rates. Explore our Business Loan Refinancing.
What are the types of business credit cards?
Standard Business Credit Card
Standard Business Credit Cards usually require a trading history of at least 1 year and a good credit score. Credit limits range from £1,000 to £25,000. Decision typically within 5-10 days.
Rewards Business Credit Card
Rewards Business Credit Cards require higher annual turnover. Credit limits range from £2,000 to £50,000. Typical approval in 5-10 days.
Low Interest Business Credit Card
Low Interest Business Cards need excellent credit and longer trading. Credit limits from £1,000 to £20,000, offering 6% to 15% APR.
What is a business credit card?
Application and Approval Process
Applicants need to provide comprehensive financial records, proof of operations, and personal ID. Reviews check creditworthiness and alignment with policies. Decisions are typically within 5-10 days, with funds available 24-48 hours post-approval. Through our streamlined processes, applying with us for Commercial Mortgages is simple and fast.
Regulations and Compliance
In the UK, business credit cards are regulated by the FCA, requiring compliance with the Consumer Credit Act 1974. It ensures consumer protection in credit agreements. Our expertise with regulatory frameworks ensures you meet all compliance needs. Learn more about our Bridge Loans.
Borrowing Capacity and Rates
Borrowing ranges from £1,000 to £50,000. Rates vary based on credit scores, financial health, and card features, typically 6% to 25% APR. Additional fees may apply like annual fees or foreign transaction fees. With our competitive offerings and financial insight, achieving your business goals is feasible. We provide Invoice Financing to enhance your capacity.
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