Is there a business credit card that suites my needs?

[sonic85]

Hello everyone

I have started my own limited company recently and am trying to see if there are any business CCs that offer perks that will match my needs.

From looking so far it seems most cards have an annual fee which will only be recouped by large annual spends – not something my business can do.

Here’s a little info:

1 director/card
Yearly spend £10k-15k
Needs to be zero fee foreign currencies
Will do little to no travel spends on it

Thank you

[Entitled]

I use Capital on Tap which has two version; free and £99 per annum. The only difference is that the 1% you earn on cashback can be transferred in Avios on the paid card, it cannot on the free. You still get the ability to withdraw the 1% as cash, apply as a statement credit, or use towards merchants vouchers.

There are no FX fees, and it works with Curve if you need to make payments to HMRC and want to avoid the fee HMRC charges (up to £10,000 pcm which is a Curve limit).

One point to note: the cashback you earn belongs to the Ltd. If you use for personal use you should consider speaking to your accountant. If you transfer to Avios then HMRC attaches zero value to the miles so it’s not an issue. The £99 isnt refundable so you really need a sense of what you want to do with the cashback before applying for the paid card. You can however upgrade at a later date if you want the Avios.

[The Savage Squirrel]

+1 to Entitled.

Assuming you’re a 50%ish taxpayer and value Avios at 1p (just ‘cos I like easy maths) you’re better off with Avios. The numbers change depending on your marginal tax rate and Avios valuation of couse.

15k = £150 cashback of which HMRC takes £75
net +ve = £75

or 150k = 150k Avois = £150 of value you get to keep
£100 fee (tax deductible) = £50 less take home income
net +ve = £100

Curve Metal also has its own fee of course, but with up to 10k/month of employer’s PAYE payments and the like you can put through, it maybe very worthwhile…