Company credit card

I currently have a business bank account with Abbey National but unfortunately they don't do a business credit card.

Anyone know of a provider that offers a business credit card with little or no annual fee, without having to bank with them?

Thanks

Reply to
Scooby Doo
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you can choose any credit card provider of your choice.Just use the card for business transactions and keep private spending on another card. If not try one of the Internet banks like Egg and see if you could sign up as principal cardholder with a limited number of employees allowed to have a secondary cards on that acount. Eric

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Reply to
Eric Jones

No, I'm not a sole trader but a Limited Company. Yes, I could use my personal credit card but would prefer to separate the transactions by having a dedicated business credit card.

Reply to
Scooby Doo

An MBNA company card is easy to get but charges about £50 per year. You can have multiple card holders each with their own monthly 'spend' limit but subject to a global maximum rolling limit.

Reply to
john boyle

In that case I think you will need to transfer the business account to a proper bank which offers this facility.Abbey in my opinion still has the building society attitude when it comes to business banking. Eric

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Reply to
Eric Jones

"Eric Jones" wrote

Why not simply open a new account, and keep both running together?

Reply to
Tim

In message , Tim writes

Because if the business is going to grow then it might need overdraft or loan facilities. Running a parallel account will mean the bank you ask to provide the facilities wont be able to see the full picture, and the credit scoring wont see your full turnover.

Reply to
john boyle

"john boyle" wrote

So apply for two "half-sized" overdrafts/loans, one from each bank...??!

Reply to
Tim

In message , Tim writes

Possible, but a bank would be wary. They should be able to spot that you have another account by the turnover in the company accounts not being compatible with the turnover through the bank account.

If you are applying for an overdraft, repayment comes form cash flow and the bank wont like it if they dont see all of it. If the bank needs security then the usual basic security from a LtdCo is a floating charge over the assets of the company which usually incorporates a fixed charge over book debts, the terms of which usually requires the cash from all sales to go into the account of the bank that has granted the overdraft.

Reply to
john boyle

"john boyle" wrote

Hmmm. If that is the case for a Ltd Co, why is it *not* the case for personal bank accounts?

Reply to
Tim

In message , Tim writes

There is hardly any comparison between the Credit Risk Assessment of an individual and that of an incorporated body, and, usually the LtdCo figures are very much bigger.

Reply to
john boyle

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