Business credit cards for personal use

[Ticktock]

The main difference is that my business cards have the company name on them and are paid directly from my business account, rather than me claiming expenses from MyCo, or using a business debit card and giving interest free loans to clients.

My HSBC Business Account came with a credit card, which I rarely use.
I took out a Capital One Business credit card as you get a pitiful amount of cashback (although I did max out the introductory offer increased cashback very quickly).

I use the Cap One to pay for my meals, transport (not petrol of course), office supplies, etc and pay it off every month. The benefit for me is the aforementioned pitiful cashback rate.
I also use it when travelling for clients, so that I don't need to pay out on hotels, meals, other expenses until my invoice has been paid - so purely for cashflow management.

[cojak]

I use my Business credit card for any company purchase (including such things as accommodation and train tickets).

I stopped using my Business debit card when I realised that I didn't have the protection of a credit card.

[VectraMan]

I have a business Barclaycard, that I've never used. I didn't ask for it, in fact I've told them twice to close the account and somehow they haven't. Doesn't cost anything though.

[NickFitz]

When my first MyCo first applied there were no business credit cards. Full balance had to be paid off each month.

Now I see that business credit cards do exist. And I also see that Barclaycard have one with 0% balance transfer.

So, I stand corrected

"We'll allow you to transfer all your debts to us with no additional charge!"

What could possibly go wrong…

[Platypus]

Charge card is not the same as credit card...

When my first MyCo first applied there were no business credit cards. Full balance had to be paid off each month.

Now I see that business credit cards do exist. And I also see that Barclaycard have one with 0% balance transfer.

So, I stand corrected

[Wanderer]

I'm not sure how to apply for personal credit card as contractor as you normally need to state a salary before income tax, but as contractor we will pay less tax. This may construe as me having less salary i.e. at 40k net salary contractor vs approx 63k permanent employee.

Just state your company's annual turnover and add 20% VAT to it.

How much credit do you want though? Almost anyone earning a reasonable income should be able to get a few grand and surely that's enough? Anyway, why do you even want credit - don't you have a war chest?

[AtW]

IIRC business "credit cards" are charge cards which don't have 0% balance transfer etc.

Charge card is not the same as credit card...

But it's not common for business cards to have 0% balance transfer, if they did then MF would have been getting them by the hundreds...

[SueEllen]

Is this illegal and/or fraudulent? Any advice on obtaining credit cards as a contractor?

Yeah don't be such a ****wit - a business credit card is paid from your company bank account not your personal bank account.

Apply for a personal credit card and put your income on it.

[Platypus]

I thought about applying for a business credit card that will give me decent 0% balance transfer and a larger credit limit

What a fscking stupid sockie thread.

IIRC business "credit cards" are charge cards which don't have 0% balance transfer etc.

[SimonMac]

Why not just go to the bank that holds your personal account, they will know how much money goes though your account and will give a card without usually needing to fill out any forms

[mudskipper]

I doubt you'd have an issue applying for a card on 40K

[NickFitz]

Does the application for a personal card ask for salary, or income? If the latter, that includes income from dividends, etc.

[AtW]

as contractor we will pay less tax.

What made you think that?

Any advice on obtaining credit cards as a contractor?

[Im thus]

I'm not sure how to apply for personal credit card as contractor as you normally need to state a salary before income tax, but as contractor we will pay less tax. This may construe as me having less salary i.e. at 40k net salary contractor vs approx 63k permanent employee.

Therefore, I thought about applying for a business credit card that will give me decent 0% balance transfer and a larger credit limit. I don't attend to pay the balance with my business account but my personal account.

Is this illegal and/or fraudulent? Any advice on obtaining credit cards as a contractor?