Business credit cards for travel: what to look for

When you’re travelling for business, you don’t want the hassle of using your own personal credit card to pay for your ad hoc expenses. It’s a much better idea to have a business credit card. 

With a company card, you can charge all your travel expenses directly to the company, while also earning reward points, cashback and other travel perks. 

Let’s explore the key features of a good business travel credit card and how these benefits help you manage your travel costs and expenses.

What makes a business card good for travel?

With a business travel credit card that’s optimised for international spending, you have the benefit of charging your overseas expenses straight to a company account. 

You also have the bonus of earning reward points, cashback and, with some cards, getting access to premium airport lounges and other perks.

1. No foreign exchange fees

Foreign exchange (FX) fees can be a major cost if you’re travelling between different countries. 

Every overseas purchase, hotel booking and client meal abroad will be hit by the cost of exchanging your home currency into the native currency. This isn’t a cost you’ll incur when using your card at home, so these FX fees need to be factored into your travel budget.

Finding a card that doesn’t charge FX fees is a sound move. Instead of racking up additional FX costs, you’ll only pay for the goods and services you buy. 

2. Travel rewards or points

Many business travel credit cards offer points or rewards that accumulate while using the card. 

When you spend overseas, this earns you additional rewards based on the converted value of your foreign purchases. Many cards offer accelerated points for international travel, accommodation and dining. These points accumulate to be redeemed against future flights, upgrades or other business expenses.

To get the best from these reward systems, you’ll need to fly regularly with a specific airline, or spend with specific card partners.

3. Travel insurance and protections

Some cards offer discounted business travel insurance for card users, keeping you covered and insured while on the move. Insurance cover will usually be an additional feature, so it’s a good idea to check the card features if insurance is a major requirement.  

Purchase protection for the goods and services you buy while travelling may also be included. As a card feature, purchase protection covers new purchases against accidental damage or theft for a set period after purchase. If a covered item is damaged or stolen, the card issuer repairs or replaces the item, or reimburses your company for the cost of the goods.

4. Lounge access (selected cards only)

If you use a premium business travel credit card, you may get airport lounge access privileges as a bonus feature of the card.

Lounge access grants you entry to airport lounges for complimentary food, Wi-Fi (important while working on the move) and quiet workspaces to use your laptop, etc. You’ll usually scan your eligible business card, associated lounge membership card or digital pass at the door.

Bear in mind that lounge access is usually a perk associated with selected cards, so there will be a higher cost of using this card. Whether it’s worth spending more on the card to get these access privileges will depend on the frequency of your travel and your need for quiet working. 

FX fees: the cost that matters most for travel

While you’re away on business, you’ll be using your business travel credit card to cover your expenses. This will include the cost of hotel accommodation, food and drink, client entertainment and any ad hoc costs you work up on the trip.

If all these card purchases attract an FX fee, this additional charge can quickly begin to add up. Currently, the major UK banks, like HSBC and Lloyds, charge a fee between 2.95% and  2.99% for non-sterling purchases made using a credit card. 

If your overall spending on a business trip totalled £5,000, that’s an additional FX fee of £149.50 on top of your spending – just for converting your purchases from the native currency. 

The good news is that some non-bank providers have ‘no FX fee’ business cards. With a card like the Funding Circle Cashback business credit card, for example, you’ll pay zero foreign transaction fees. 

Rewards vs cashback for travellers

Business credit card travel rewards are one way to reduce the cost of business travel, while also opening up additional perks and benefits. But some business credit cards also offer a cashback option, where you get cash back against all eligible purchases you make using the card. 

Earning rewards and getting discounts on flights, accommodation and food and drink is a clear benefit. But you do need to travel regularly to accumulate enough points. You’ll also need to meet the redemption policies set out by your card provider and their business partners. 

Cashback can be a much simpler way to benefit from your travel spending. There are no limitations or conditions around how you spend the cash and you don’t have to join up to the card’s loyalty programme to benefit. Just sign up for the card, make purchases and the cashback amount will be instantly added to your card balance. 

Choosing the right travel card for your business

Before you choose a business credit card for your travel expenses, it’s important to weigh up the pros and cons of the many cards on the UK market. 

Let’s look at six key questions you should ask when doing your research:

1. Does the card charge FX fees? Traditional high-street banks are likely to charge you  around 2.99% on non-sterling purchases, while some non-bank card providers charge zero fees for overseas spending. Make sure you know if FX fees are charged. Note that fees do vary by lender.

2. Does the card offer rewards or points for usage? Check if points accumulate on converted overseas spending. If you travel frequently, you may benefit from a reward system where points can be converted into discounted flights, hotel accommodation and international business dining.

3. Does the card offer travel insurance or purchase protection? Having insurance and purchase protection included can be a useful perk. Check that the protection covers flight delays, medical emergencies and automatically protects new business hardware against theft or accidental damage after purchase.

4. Does the card offer airport lounge access or other premium perks? Look out for whether the card offers complimentary lounge passes, fast-track security clearances, or hotel status upgrades. Having lounge access is a great way to continue working or taking business meetings while on international trips.

5. Does the card offer cashback on purchases? Cashback can be a great way to save on international spending without signing up to a rewards system. Check whether the card offers a flat-rate cashback percentage on overseas spending, and if there’s an initial introductory rate that will drop after a specified time period.

6. What are the overall costs of running the card? Weigh up the card’s annual fees and interest rates against its perks. Cards that offer zero annual fees and zero FX fees may be a more sensible option if premium perks are not top of your wish-list.

Are you eligible for the Funding Circle Cashback business credit card?

If you’re in the market for a low-cost travel business credit card, the Funding Circle Cashback business credit card is well worth adding to your list. 

To qualify for the Cashback card, you’ll need to:

• Be a UK-incorporated limited company (Ltd/LLP), 

• Have been trading for 12+ months, 

• Have an annual turnover of £30,000+

Funding Circle: helping you earn cashback on travel spending

Our Cashback card has zero annual fee and zero foreign transaction fees. If you want an economical way to cover your travel expenses, the Cashback card could be your favourite travel companion.

The Cashback card also helps you earn 2% cashback on your travel spending for the first 6 months (up to £2,000), then 1% uncapped cashback after that. So, while you’re overseas closing deals, you’re adding cash to your balance to cover your travel costs.

• Apply online in 3 minutes

• Instant decision

• No monthly fees or foreign exchange fees

• Up to £250,000 credit limit

• No interest for up to 42 days

• Cashback on all your overseas spending

Apply for a Cashback card today

FAQs

What's the most important feature in a business travel card?

For most businesses, it's the absence of foreign exchange (FX) fees. Cards that offer zero FX fees can save you 2.99% on every overseas purchase compared with a standard credit card from the main UK banks.

Do business travel cards offer lounge access?

Some premium cards do offer lounge access, often alongside a higher annual fee. Whether it's worth paying for this extra feature depends on how frequently you travel and how much that lounge/quiet workspace access would otherwise cost.

Are points or cashback better for travel?

Points or airline miles can suit businesses that travel frequently with a particular airline or alliance, since redemption value can be high. Cashback is simpler and has straightforward cash value, regardless of how or where the business travels.

Does Funding Circle's card charge foreign transaction fees?

No, Funding Circle's business credit card doesn't charge foreign transaction fees, so overseas spend is treated the same as domestic spend, subject to FX rates.

Disclaimer

23/07/26 – While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice.