Business Credit Cards

[Ballerinacaz]

Hi,
I'm planning to set up a business selling cards and crafts and stuff and I was just wondering, where is the best place to get a business credit card? I was hoping that I could get one with no annual rate, but I don't know if thats possible? Can anyone help me here?

[MrSwirl]

I don't think anyone does a free business credit card.

HSBC charges (which is why I moved from them), Lloyds charge, Abbey don't do one, Cater Allen don't do one...

Abbey do a Visa Electron card on their business account, but that's a debit card rather than a credit card.

HTH

[newcrafter24]

Are you going to be trading as a sole trader i.e. not setting up as a limited company? If so, personally I would forget business bank accounts and credit cards and just get an account / credit card in your own name but keep it separate from you normal private ones. It keeps all your transactions separate and easy to organise but as soon as you go to a bank or credit card company asking for a business account or credit card, you will I think face business banking charges etc. I think some banks offer free business banking (maybe Abbey Natinonal?) but to be honest it's not worth it if you're a sole trader.

I opened a new account with the Bank of Scotland (Halifax) and it is their simplest of accounts, You don't get a cheque book but you a card that you can use at the cash machine for cash withdrawals and a debit card for use in shops and paying online. Also get telephone banking and online banking with it. Suits me great!

Hope this helps.

[MrSwirl]

Abbey are free and very good.

[Beadsage]

Most - Lloyds - like you to have been trading at least 6 months before giving you a credit card. There again, a lot of wholesalers don't take credit cards, only debit. ;)

[Ballerinacaz]

Thanks for all the help so far, if its mainly for online selling and stuff (I probably won't be using it to buy stuff, I'll swap the money back to my regular account, its high interest) so which is better credit or debit, would I be better off with a business or personal, there's just me in the business.

[JBJB]

I'd say have a personal one to start with.

I have a personal account for the business, and every time I look at changing to a business one, I run for the hills!

[BeadsbyLili]

I'd ditto Mr Swirl and say Abbey - easy to set up and free (so long as you keep within limits). The drawback is that you wont get quite the same level of support as if you had a 'proper' business bank account but its really OK as a starting point.

[craftymate]

l have just signed up to the hsbc free banking for 2 years l have a credit card, debit card, chq book. My usual bank is the Alliance and Leicester in which if l take a chq as payment it takes 10 days to clear which is a pain.
Good luck with your choices

[fabricandbags]

I didn't realise HSBC do 2 years free business bank account. I have my current account with them and have been toying with the idea of opening a business bank account for a while. I like the idea of having the credit card as I buy supplies from the US.

Was it easy to set up and stress free?

Cheers

[DemonDaisy]

Hi,
I use my personal credit card (from Virgin) for all my business transactions then make one monthly payment from my business bank account so to avoid paying any interest. Virgin offer points on spending and so it's a great way to save these up then use for vouchers etc in the virgin shop....I usually get the boots ones so I can get my Clinique goodies.
Claire xx