Can I Get a Business Credit Card Without a Business?

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.