Compare our best business charge cards

Business charge cards are financial products designed specifically for businesses and provide a convenient way to make purchases and manage expenses. Unlike credit cards, charge cards require the full payment of the outstanding balance each month. This feature encourages responsible spending and ensures that businesses have the funds available to cover their expenses.

Business charge cards often come with a range of perks which can be handy for your business. Perks can include travel insurance, access to airport lounges, concierge services, breakdown cover, rewards and cashback. However, many business charge cards also come with an annual fee.

Business charge cards can be used to make purchases in the same way as a credit card. But unlike credit cards, they tend not to have a pre-set spending limit. This doesn’t mean you can make unlimited purchases on your card, but you can usually spend more as your company builds a good payment history. 

Business charge cards don’t allow you to carry over a balance from month to month and you must instead repay the balance in full. Failure to clear your monthly balance will result in late payment fees and interest might also be applied to the amount you owe. 

The key distinction between charge cards and business credit cards lies in their payment requirements. With a credit card, users have the option to carry a balance and make minimum monthly payments, whereas with a charge card you need to pay off the balance in full every month. Charge cards typically have higher spending limits compared to credit cards, making them a potentially good option for businesses with large expenses or purchases to make.

Business charge cards are available to various types of businesses, including sole traders, partnerships, and limited companies. Whether you're a small startup or an established enterprise, there are charge card options tailored to meet your specific needs. Typically, providers will assess your business's financial situation, creditworthiness, and ability to meet the payment requirements before approving your application.

The costs and fees associated with business charge cards can vary depending on the provider and the specific card you choose. While some charge cards may have an annual fee, others may have fee-free options.

It's also important to consider foreign transaction fees, interest charges on late payments, and any other applicable fees.

Carefully review the terms and conditions of each card to understand the costs before making your decision so you can be sure it's the right option for your business.

Charge cards are not as widely accepted as credit cards, so you’ll need to check or make sure you have an alternative payment method with you. You may be able to use your charge card:

• In certain shops, restaurants or other businesses

• Online

• In cash machines

• Over the phone

• In other countries (fees may apply)

• For mail order services

While business charge cards offer many advantages, they may not be the ideal fit for every business. Consider these alternative products:

• Business credit cards: If you prefer the flexibility to carry a balance, business credit cards provide the option to make minimum monthly payments.

• Prepaid business cards: Prepaid cards allow businesses to control spending by preloading a specific amount onto the card. This option is useful for budgeting purposes and limiting expenses.

• Corporate expense management software: Instead of relying solely on cards, businesses can opt for expense management software that integrates with company bank accounts, providing real-time visibility and control over spending.