Limited company credit cards: eligibility and what to look for

As your company grows, a business credit card can provide some much-needed flexibility when managing your cash flow, helping you cover expenses and boosting your purchasing power. They also build your credit history and keep personal and business finances separate. Here’s what to look for when choosing a limited company credit card, including eligibility criteria and the features and benefits to weigh up when comparing providers. 

Can a limited company get a business credit card?

You can get a business credit card for a limited company from numerous banks and finance lenders, with approval based on various factors, such as how long you’ve been trading and your existing credit history. In fact, they’re the typical audience for card providers in the UK. Therefore, incorporation makes accessing credit far easier. 

SMEs are some of the most in need of a limited company credit card, especially considering the cash flow challenges UK businesses face. Credit card use has grown in recent years, as companies seek external finance to manage cash flow and fuel growth. 

The British Business Bank’s Small Business Finance Markets 2025/26 report revealed that gross SME bank lending increased by 9% to £68bn in 2025 (the second highest level in the past 13 years), with credit cards being the leading source of external finance in Q3 2025.

What is a limited company credit card?

Essentially, a limited company credit card is a revolving line of credit for business expenses, to be repaid over time. It’s for incorporated companies and is legally distinct from the business owner. 

A business credit card for an Ltd company or LLP is in the company’s name, with credit limits offered being based on business health and, in certain cases, personal credit history. Many providers let you have multiple cards for employees, but this often comes with additional costs. However, Funding Circle offers unlimited free employee cards.

Some company credit cards have extra perks, such as cashback on purchases, rewards schemes and premium features (like VIP experiences and airport lounge access). Beyond these rewards, limited company credit cards help you build your business credit score and offer breathing space in key financial periods and increased spending power.

Why having a credit card in your company's name matters

With a credit card in your company’s name, you can enjoy cleaner bookkeeping and accounting, grow your business credit history and ease cash flow management.

Let’s look at the main reasons for getting a business credit card in your company’s name and the key benefits:

Separating business and personal finances

When it comes to key financial periods, a clearer distinction between your personal and business finances simplifies accounting. Expense tracking, tax returns and reconciliation will be much less of a headache as a result.  

Building business credit

Using a limited company credit card helps build business credit history and may improve your credit score and prospects when applying for business loans and other forms of business finance. But this relies on timely repayments and staying within the right usage limited – credit rating agencies (CRAs) recommend businesses stay under 30%, where possible.

Managing cash flow

Using an Ltd or LLP business credit card allows you to make purchases when you have cash flow gaps or want to spread costs. For example, you may need to stock up on inventory ahead of a key sales period or cover your day-to-day expenses while you wait for a client to settle their bill. This short-term cash injection helps you manage cash flow and keep business moving.

Credit card eligibility for limited companies

While business credit cards are widely available to limited companies and LLPs, approval depends on eligibility criteria set by banks and credit lenders. Each card provider will have specific requirements, but they usually include details about incorporated status, trading history and turnover. And you’ll sometimes be subject to a director credit check. 

Funding Circle’s business credit card eligibility criteria are very simple – you’ll need to tick the following boxes:

• You’re a UK-based limited company (Ltd or LLP)

• You’ve been trading for more than 12 months

• Your turnover is £30,000+

Some credit card providers require you to hold a bank account with them to apply. At Funding Circle, we don’t need you to switch your banking, so it’s quick and easy to get started. See our limited company credit card eligibility checker.

What to look for in a limited company credit card

When choosing a credit card for your limited company, suitability depends on your specific needs and priorities. But you should compare factors and features, such as credit limits, interest rates, fees, rewards/benefits and spend management features. 

Cashback and rewards

Most credit card providers offer some form of perks, from cashback on purchases to reward schemes – things like earning airmiles or points towards other brand schemes. Some are behind a paywall that scales on different tiers, including enhanced cashback rates or better points conversion ratios. 

So, you need to judge how useful these are for your business (and its spending behaviours), while weighing up their cumulative value vs the annual or monthly costs of premium tiers. 

Fees and APR

It’s important to be clear about the fees, rates & charges of different limited company credit cards beyond the headline interest rates. Fees and rates to look for and consider include:

• Annual or monthly card fees (where applicable)

• Representative APR (Annual Percentage Rate)

• Costs for additional employee cards

• FX fees for international transactions

• Other transactional costs (such as ATM use and balance transfers)

Remember, the representative APR is not what you’ll necessarily get. The actual rate you receive depends on your specific circumstances. And the true APR can be significantly higher when accounting for any annual fees and ad hoc costs.

Foreign transaction fees

If your business operates internationally or makes regular trips abroad, transaction costs can add up. Foreign exchange (FX) fees can vary between providers but are often around 3%. Luckily, plenty of providers have cards that travel as easily as your business, like Funding Circle’s cashback card with no FX fees. 

Employee cards and spend controls

Want to make it easier for your employees to manage their expenses? Some providers charge for additional cards, while others don’t. Some lenders also enable spend controls, individual limits and real-time tracking via their apps. 

Check if there are any costs for extra cards and expense management features. Funding Circle offers unlimited free expense cards for employees, which let you easily set spend limits and track expenses.

How to apply for a limited company credit card

You can start most applications for limited company credit cards online, with the time varying depending on how the documentation and checks are involved. Certain lenders offer fully digital applications, which cuts the time down to minutes. 

It’s a good idea to get your key information and documentation before applying. 

What information will I need to apply for a limited company credit card in the UK?

You’ll usually need the following information when applying for a limited company credit card: 

• Company registration numbers (CRN) 

• Details of directors

• Time in operation

• Turnover over the last 12 months 

• Various financials (such as recent banking records and cash flow statements)

Check provider eligibility criteria beforehand to save time (and unnecessary credit searches). Use credit card eligibility checkers (where available), which involve soft checks that don’t affect your credit score.

How long do business credit card approval decisions take?

Digital lenders and modern banks usually make approval decisions in hours or even minutes, thanks to algorithms and automation tools, while more traditional lenders can take a few days. 

Funding Circle’s application and approval process lets you apply in a matter of minutes and get a decision in under an hour (often sooner).

How credit limits are determined

When assessing your application, credit limits are set by several factors, such as:

• Business turnover: look out for specific turnover thresholds

• Credit history:  your past and existing credit use helps lenders see how well you manage credit

• Cash flow predictability: lenders look at cash flow to check how much you’ll be able to pay

Providers can also review and adjust limits over time, depending on how you use your card and how well you’re doing. 

You can also request an increase in credit limit. If you’ve been repaying promptly and staying within acceptable credit usage levels, you'll have a better chance of success.

Alternatives to a limited company credit card

While business credit cards are a useful source of credit for regular expenses, there are other options to consider, depending on your working capital needs. 

Alternatives to a limited company credit card include business loans (for larger, one-off funding), lines of credit (for flexible short-term working capital access) or invoice finance (advances without long-term borrowing commitments). 

Funding Circle has a range of borrowing options beyond credit cards, including small business loans and FlexiPay, our flexible line of credit that allows you to spread costs over 1, 3, 6, 9, or 12 months, with no interest fees – just a flat 1.99% rate per use.

Funding Circle's credit card for limited companies

If you need a limited company credit card that needs simplicity and value, we’ve got your back. Forget complex point systems, our Cashback business credit card is built for incorporated businesses, with clear features and benefits, such as: 

• No annual fees

• No FX fees

• Unlimited free employee cards

• A credit limit of up to £250,000

• 2% cashback on purchases in your first 6 months (up to £2,000, then 1% uncapped)

• Easy accounting integrations with Xero, Sage and FreeAgent

• Rates from 14.9% per year (Representative 34.9% APR variable)

• Up to 42 days interest-free

You can apply for Funding Circle’s Cashback business credit card in minutes – check your eligibility to get started.

Limited company credit card FAQs

Can a private limited company get a credit card?

Yes. Many UK lenders offer business credit cards to private companies (Ltds), with varying credit limits, eligibility criteria and features to meet different needs. Some card companies focus on flexibility, value and ease of use, while others offer premium perks and reward schemes. Eligibility requirements vary by lender, so it’s important to check conditions before you apply. 

Do you need to be a limited company for a business credit card?

No. You don't need to be a limited company to get a business credit card. Many UK banks and lenders only offer credit cards to limited companies and LLPs, while others accept sole traders. Plus, banks like Lloyds, HSBC and Barclays have cards designed for larger organisations, such as PLCs.

Is the card in my name or the company's?

While limited company credit cards are opened in the business’s name, individual cards are issued to employees, with their names appearing alongside the company’s. Also, although the cards are for business use, directors may need to provide a personal guarantee.

Does it help build my company's credit profile?

Business credit cards are a great way to boost your company’s credit profile, which in turn can increase your approval chances for future finance applications, such as a business loan or asset finance. However, this depends on how you use the card.

How often are credit limits reviewed?

Credit limit increases are at the card provider’s discretion. Lenders will review your situation periodically or if/when your financial situation changes, but credit limits are often reviewed every 6 to 12 months.

02/07/26: 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.