What on earth is going on with company credit cards? Despite the fact that banks are falling over themselves to issue credit cards to individuals, there seems to be practically no competition in the company credit card market. I have just got so fed up with the atrocious service I got with my NatWest Business Card, I have spent the afternoon looking for an alternative. The result? Almost all the other banks insist that you open a current account with them before they will let you have one of their credit cards. Well, I might well have switched my current account to them if the service from their credit card had been OK, but now they have denied me the opportunity of finding out, so they have lost all of my business.
In the end, I applied for a Company Barclaycard. Not because I thought it was a particularly good deal, but because it was the ONLY one I could find that would let me. And it's worth pointing out that my company has been trading for 5 years and has never once been in any sort of financial trouble.
If anyone from any of the banks is out there, there is a huge business opportunity waiting for you if you want it. Why is there such a complete lack of competition in this market?