Can I Get a Business Credit Card Without a Business?

02 Mar 2020

Written by: Capital on Tap UK

No, to get a business credit card, you will need to be a registered company in the UK and this is applicable to all limited companies, partnerships, self-employed, sole traders, freelancers, consultants and more.
Whether you carry out work on a formal or freelancer basis, it could benefit you to have a business credit card to manage your expenses, cash flow and earn rewards on any expenditure.


What is not considered a business?

  • No limited company;
  • No company registration;
  • No company address;
  • No company directors;
  • No turnover.


How do I set up a limited company? 

Setting up a limited company is simple – and can be submitted to Companies House and completed in 24 hours with a cost of just £12. If you prefer, you can use an agent to help you through the process and pay a fee on top. To set up a company you will require:
  • A unique company name ending in ‘limited’ or ‘ltd’;
  • A company director(s), company secretary or people of control;
  • A company address. 


How do I set up as a sole trader? 

To register as a sole trader, you will need to be self-employed or running your own business which has made more than £1,000 in the last tax year.
To proceed, you will be required to register with the HMRC, keep track of your income and expenses and then complete a self-assessment tax return every year. 


What are the eligibility criteria for the Capital on Tap business credit card?

Registered company in the UK with a unique company registration number;
  • Minimum trading history of 12 months;
  • Minimum monthly turnover of £2,000;
  • No unsatisfied CCJs in the past 12 months.
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