Business credit cards for startups: what a new limited company can get

The short answer, by the kind of startup you are

• A new limited company or LLP with some revenue already coming in: Capital on Tap is the obvious first application. It states no minimum trading history, it does not require you to bank anywhere in particular, and it runs a soft search on your personal credit file when you apply. iwoca, new in 2026, is the closest like-for-like alternative and publishes a representative APR, which Capital on Tap does not.
• A new company whose director has a solid personal income: American Express Business Gold does not state a trading-history rule in our data; its eligibility reads: Ltd or LLP only; director or member; £20,000+ personal income. Sole traders are not eligible. It is a charge card, so you must clear it every month.
• A new company already committed to a high-street bank: that bank’s card may be the easiest route, but you need the current account open first, and some banks look for a year of history.
• A company that has traded for a year or more with turnover above Funding Circle’s floor: Funding Circle is worth comparing, particularly for its introductory cashback rate.
• A sole trader: Capital on Tap, Funding Circle, iwoca and the Amex charge cards are all closed to you. Start with the sole trader guide.

I have used one card on this page first-hand: Capital on Tap, on its free tier, for a few years in a small UK agency. Everything else here is research from the issuers’ own pages. The site earns a referral bonus from Capital on Tap and from no other card.

What each card asks of a new company

The trading-history column is read from each issuer’s stated eligibility. “Not stated” means the page we checked does not give a minimum, not that there is none; a lender can still decline a company for being too new. The bank column shows whether the issuer requires its own business current account. Of the 17 credit and charge cards we track besides Capital on Tap, 2 state a minimum trading history and 9 require the issuer’s own account.

What “no minimum trading history” actually means

Capital on Tap’s FAQ is direct: There's no minimum trading history required, so businesses of any age can apply. That makes it unusual. The conditions it does set are that the company is active on Companies House, is a Ltd, LLP or PLC, is not in a high-risk industry, has no unsatisfied CCJs in the last 12 months, and that the person applying is an active UK director or a shareholder with 25% or more. That person, or another director or major shareholder, gives a personal guarantee. The Capital on Tap eligibility page goes through each condition.

No trading history is not the same as no revenue. Capital on Tap looks for a £24,000 minimum annual turnover (the figure is in its Help Centre eligibility article), and the application asks for your average monthly turnover and business bank details. Capital on Tap does not say whether a forecast counts for a company that has not yet invoiced anyone. My advice is to wait until real money is moving through the business bank account before you apply, so the turnover figure you give is one you can evidence.

You also need a business bank account: with any bank, to apply. For a new company that is usually the first thing you set up anyway. Because Capital on Tap is not a bank and has no current account of its own, the account you use is one you already hold, with whichever bank you chose at incorporation. That matters more than it sounds, as the bank-card section below explains.

Once you apply, Capital on Tap gives a decision in around 2 minutes, and the card arrives in the post; the how to apply guide walks through the screens.

What lenders look at when the company has no history

A lender deciding on a three-month-old company cannot read its accounts, because there are none. It falls back on three things.

The director’s personal credit file. With no company record, the applicant’s own history carries most of the weight: missed payments, defaults and CCJs in your name will count against the company. Capital on Tap makes a soft search on your personal credit file when you apply, and its rate depends on your personal and business credit history and the Bank of England base rate, so a thin business file puts more emphasis on your personal one. Before applying anywhere, check your own file with the free credit reference agency services and correct anything wrong.

Evidence of turnover. The application asks for your average monthly turnover and the bank details you will repay from. Separately, Capital on Tap says that Open Banking data is used to assess limit increases: We use the information from your linked bank accounts to get a better understanding of your business's financial health. This helps us assess your account for potential credit limit increases. That statement is about increases after you have the card; Capital on Tap does not publish how it checks the turnover figure at application, so do not assume a bank connection at sign-up will lift your starting limit.

The personal guarantee. For a company with no assets and no record, the guarantee is the lender’s real security. If the company cannot pay, the lender can pursue the director personally. Every card a new limited company can realistically get asks for one, or says one may be required. Our guide to director personal guarantees explains what you are signing and how to limit the risk.

Bank cards: the sequencing cost for a brand-new company

Most high-street business credit cards are sold only to the bank’s own current-account customers. In our data that is NatWest Business Credit Card, NatWest Business Plus Credit Card, Lloyds Bank Business Credit Card, HSBC Commercial Card, Santander Business Cashback Credit Card, Metro Bank Business Credit Card, Virgin Money Business Credit Card, The Co-operative Bank Business Credit Card, Bank of Scotland Business Credit Card. For an established business that already banks there, this is no obstacle. For a company incorporated last month, it adds a step: open the business current account, wait for it to be set up, run money through it, then apply for the card, with the bank’s own view of how new is too new.

Virgin Money is explicit about that last point: its eligibility is “Virgin Money business current account required; trading for at least 12 months”. The others do not state a minimum in the pages we read, but a bank that can see only a few weeks of account history has little to go on. If you choose your bank partly for its credit card, it is worth asking the bank directly when it would consider a card application, before you move your banking.

The advantage of going through your bank is the relationship. Over time it sees your cash flow, and a bank that already knows the business may be more comfortable with a larger limit than a standalone lender would be. That is a possibility, not a promise, and it takes time to build. The alternatives that work with any bank are compared on business credit cards that don’t need you to switch bank.

American Express, Funding Circle and iwoca for new companies

iwoca. The iwoca Credit Card launched in 2026 and is the closest like-for-like rival to Capital on Tap for a limited company: £0 annual fee, 1% cashback on all spending, credited to the balance, 0% (Visa exchange rate) on non-sterling spend, limits up to £250,000, and up to 42 days interest-free. It publishes a representative APR: 35.40% APR representative (variable); rates from 14.99%. Its eligibility, as we read it: UK limited company (the FAQ also says partnership), registered at Companies House; our research notes: page body says director of a limited company; FAQ says limited company or partnership. A minimum trading history is not stated in our data. Cash withdrawals not available. For a new company that wants a published rate before applying, iwoca is a fair choice. Research from iwoca’s page, checked on 28 October 2026.

Funding Circle. Its cashback card’s eligibility is: Limited companies only; at least one year trading; £30,000+ turnover. A startup has to wait. When you qualify, it offers 2% cashback for 6 months (capped at £2,000), then 1% uncapped, 0% FX and £0 annual fee. The head-to-head is on Capital on Tap vs Funding Circle. Research from Funding Circle’s page.

American Express Business Gold. Amex judges the applicant as much as the company. Its eligibility reads: Ltd or LLP only; director or member; £20,000+ personal income. Sole traders are not eligible. No trading history is stated in our data, which makes it one of the few options for a young company whose director earns enough personally. It is a charge card (No pre-set spending limit; spending power is set by Amex and adjusts); the balance must be paid in full, the annual fee is £0 in year one, then £195, and the non-sterling fee is 2.99%. The welcome offer is 40,000 points plus a £100 Selfridges eGift Card after £6,000 in 3 months (limited offer for applications by 12 January 2027; the page strikes through 20,000). Research from Amex’s page.

Expect a modest starting limit

Headline limits are ceilings. Capital on Tap advertises up to £250,000; iwoca and Funding Circle quote the same kind of ceiling. A company with a few months of history will start far lower, and so will many established ones. Mine did: my Capital on Tap limit came in lower than I expected, and it has been hard to increase. The full story, with Capital on Tap’s own advice on increases, is on the credit limit page.

Capital on Tap’s guidance is to allow 3 to 6 months of on-time history between requests, and to focus on regular use, on-time repayments, an active Direct Debit, current Companies House filings, an Open Banking connection and a clean record elsewhere. For a startup, the practical workaround is Preloading: Preloading lets you top up your business credit card with your own money when you need more than your credit limit allows. You top up with your own money and still earn 1% cashback on the spend, which helps when a supplier invoice or a laptop order is bigger than the limit you were given.

However small the limit, run the card the same way: pay the full statement balance by the due date. Capital on Tap charges no interest on purchases if you pay the statement balance in full by the due date. It advertises rates as low as 13.86% APR (variable) and does not publish a representative APR, so a new company should not plan to borrow on it without seeing its own rate first.

Building the company’s credit file from day one

A business credit card is one of the simplest ways for a new company to start a credit record of its own. Capital on Tap runs a hard search on the business’s credit file once you sign the agreement, and from then on the account and how you repay it become part of the company’s history. Pay on time, keep Companies House filings current, and keep the registered address consistent across every lender and supplier. After a year or two, the company can be assessed on its own record rather than almost entirely on yours. The guide to building a business credit score covers the rest.

Sole-trader startups

If you have started as a sole trader rather than incorporating, the specialist cards are closed to you: Capital on Tap is not available to sole traders, and Funding Circle, iwoca and the Amex charge cards take companies only. The cards that do accept sole traders are mostly bank cards that need the bank’s account, plus Barclaycard Select Cashback, whose eligibility reads: Business owner or director, UK-based, turnover £10,000 to £6.5 million; sole traders accepted. The sole trader guide compares them. If you plan to incorporate soon anyway, it can be simpler to wait; the limited company guide explains what changes.

Who should choose which

For most new limited companies, the sensible order is: open a business current account with whichever bank suits you, let a few months of income build up, then apply to Capital on Tap, which will not ask how old the company is. If you would rather compare every card side by side, the full table is on compare UK business credit cards.