credit cards for business

[CR0X]

anyone use credit cards designed for business? Our Amex's are up, so looking around. At the moment, it is done on the Chairman's own account, the company pays it all off.

If not business, then what cards are best for rewards, lounge access etc?

[lenientism]

I guess we are here would agree about credit card use to support business rather than spending it for the lounge or any other consumptive behavior.

It is not recommended to rely on credit card to run business, try to look for the more suitable loan scheme.

However I found it useful in emergency, take one or two credit card with the cheapest interest rate.

[CR0X]

fair point, but we will use credit cards for expenses above all. Our overdraft facilities are far in excess of what 10 credit cards could provide.

The main point was our current Amex cards are up for renewal, and we get good airmiles from them, but looking at other options. What rewards are best compared to cost outlay for example. Lounge access would be good providing that the cards are not a minor fortune in the first place.

[Murcielago_Boy]

My company uses AMEX as well - they're probably the best but are not accepted everywhere unfortunately.
We also have had the misfortune of using Barclaycard Commercial who are utterly utterly WOEFUL - I mean they're seriously st. don't use them whatever you do.

[Anatol]

Looking at your linkedin page, looks like it's essentially your company?

We weighed up various options - in the end found the biggest genuine advantage was by (of all things) getting a Tesco Clubcard credit card in one director's name, and putting all business purchases on that, with the company clearing the balance every month.

Generates an absolute f*ckton of clubcard points, which are worth 4x face value if you chop them in for a 'clubcard deal' (Nationwide Autocentres are on there - our vehicle fleet servicing and MOT's are essentially free, Airmiles, and other business-useful stuff).

Also, (according to my accountant) HMRC don't see it as a BIK issue if you spend the points on personal stuff like holidays, etc - depending on your company spend, you could have some very nice tax-free perks.

We do a minimal amount of foreign travel, so lounge access isn't a relevant factor for us, so you may have different priorities, but just a thought for the mix.

Tol

[CR0X]

in truth, didn't think about the Tesco side of things, certainly the wife and I use that a lot ...