Top 6 Business Credit Cards for Employees

As a fast-growth business, it’s very likely you currently only have one credit card to go round the company.

That means you’re probably asking employees to use their personal credit cards to pay for expenses out of pocket. Not surprisingly, this causes a lot of admin, payment bottlenecks and even employee resentment.

The good news is there is another way: get a business credit card that issues additional credit cards to your employees.  

There isn’t that much choice in the market for companies looking for credit cards for their employees — especially if your company is high growth and has fewer than 2 to 3 years of bank statements.

In this article, we’ll be comparing the following six options currently available to companies:

  1. Best business credit cards for employees compared
  2. Jeeves’ business credit card for employees
  3. Amex Business Gold card
  4. Amex Business Platinum card
  5. Barclaycard Select Cashback card
  6. British Airways Amex Accelerating card
  7. Capital On Tap Business Rewards card

Want to apply for business credit cards for your employees right away? Click here to apply to Jeeves.

(Not based in the UK? Not a problem -- we offer business credit cards to the US, Canada, Germany and many other countries. Learn more and apply here!)

Best business credit cards for employees compared

jeeves credit card comparison for employees

Notes:

  • [1] on non-sterling transactions
  • [2] first additional cardholder free, £285 per card thereafter
  • [3] Retailer discount scheme.
  • [4] As [3] plus access to more than 1,200 airport lounges across 130 countries. Earn 1 Membership Rewards® point for almost every full £1 you spend on the Card. Complimentary annual digital subscription to The Times and The Sunday Times, worth £312 per year.
  • [5] You must apply to take out cash from ATMs with certain cards. The current advertised rate is 3% of value withdrawn subject to a minimum of 3% (link)
  • [6] No annual fee for the first year
  • [7] Free accounting software with FreshBooks – worth £228 every year you’re a customer. Business rewards scheme.
  • [8] Non-sterling cash fee – 3% (minimum £3) plus 2.99% non-sterling transaction fee
  • [9] Reverts to 1% after 3 months

Top business credit card for multiple employees

1. Jeeves credit card

Jeeves was designed specifically for high growth and new businesses, which means we can provide credit to new and high growth companies that are financially healthy.

Some of our features are:

  • £0 annual fee
  • 0% interest charge
  • Additional cards for employees are free
  • Set spending limits on employee cards
  • Virtual cards
  • No currency conversion fees
  • 3% cashback on all Facebook, Google, Amazon, and AWS card spend
  • Up to 4% cashback on all transactions
  • Online account management and expense reconciliation.
  • Integration with Xero

Note – a virtual card (v-cards) is a disposable card number you can use online. They are good for one purchase only and offer very high levels of security. Virtual cards are growing in popularity in the B2B space and payments made using them are expected to reach $553bn by 2024.

Why Jeeves?

Build a better relationship with your employees

If only one employee has control over the company credit card, managing payments can get complicated very quickly.

If a few of your employees have cards, those who don’t might be irritated and feel left out.  They may also feel additional resentment if accounts fail to reimburse them at the end of the month (we’ve all been there!).

With a Jeeves credit card, you can issue cards to your employees the same day you’re approved for no additional cost. You can set spending limits from the dashboard, monitor their transactions in real time and then pay off their balance at the end of the month.

jeeves spending dashboard business credit cards for employees

Have better control over day to day organisation

If your company is growing quickly, it’s a lot faster and more efficient to give employees and directors their own budgets and credit limits. There just isn’t the time to run every purchasing request past the board or the finance team.

But it often means staff members have to use their own credit cards when buying goods and services. And that’s not a perfect solution: employees get frustrated about running up balances on their cards and having to keep stacks of receipts with them. It also creates significant extra work as each receipt has to be logged and each member of staff reimbursed.

With Jeeves credit cards, your staff don’t have to use their personal cards anymore. Instead, they make purchases on their own employee company credit card.

Founders, managers and employees will also have access to the Jeeves app, which makes it a lot easier to track and keep check on employees’ spending and do expense management.

And since it’s a credit card, you won’t have to keep topping up their card every time your employee wants to make a purchase. Instead of topping up 10 different cards every month, you’ll just have one Jeeves balance to pay off every month!  

jeeves spending transactions

Implement better cash flow and financial management

With the Jeeves app, employees can use their phones to capture receipts. Your CFOs and finance teams can use the same dashboard and app to see how much employees have spent to that point in the month. This means much greater financial visibility and a better understanding of your company’s true business finances.

You’ll also be able to find ways to rationalise your employee’s business expenses. If you find that one employee hires a car for £100 a day and another one hires a car for £200, you can identify the cheapest provider and tell all cardholders to use that supplier.

There is also a large cashflow benefit with using corporate credit cards instead of debit cards. As we mentioned above, a credit card means you won’t have to continuously top up your employee’s account. Instead, you can keep the cash in your business bank account and pay off employee expenses every month.

jeeves dashboard transactions

Keep your admin costs low

Jeeves’ clients get up to 4% cashback on their purchases every month, as you can see from the table below:

jeeves cashback

That kind of cashback can make a big difference on your profit margin. If you do the calculations, you’ll see it’s actually better for your company financially to pay its suppliers using Jeeves’ than it will be to do a bank transfer.

If your company spends £20,000 on general expenditure and £30,000 a month advertising on Google, Amazon, or Facebook, you’ll get back £15,600 from Jeeves over the course of the year. We also pay 3% cashback on Amazon Web Services too.

We also don’t charge interest rates, account fees, or card fees

You’ll also be able to enjoy up to $100,000 in benefits, perks and rewards through our various partnerships as well as gain access to over 1,300 airport lounges globally. Learn more about our Benefits and Rewards.

jeeves partner rewards

Set yourself up to go global

Jeeves was built for global businesses, which means we’ll help you go global as well. We serve clients in Mexico, Colombia, Chile, Canada, the UK and Europe, with more regions coming soon.

While other credit card suppliers charge up to 3% on transactions in different currencies, you’ll be able to make cross border payments at market rate and with no foreign exchange charges.

If you’ve got agents in other countries or employees who purchase overseas, the Jeeves credit card is a good fit.

Get approved as a high growth company

We specifically built Jeeves for high-growth businesses, which means we can offer credit cards even if you don’t have 1 - 3 years of bank statements or a credit score. If you’re not profitable but financially healthy (e.g. have received external investment), we’ll still be able to offer you credit (subject to approval).

Another key feature is that we don’t require any personal guarantees from business owners, directors or shareholders to open an account.

Interested in trying us out? Sign up to Jeeves for free!

2. Amex Business Gold card

You can issue cards to up to 99 employees with the Amex Gold Card package.

  • £175 annual fee (waived for the first year)
  • 0% interest charge
  • 54-day cashflow
  • No cost for additional cards (99 maximum)
  • Physical cards for employees (no virtual cards)
  • 2.99% currency conversion fee
  • ATM withdrawals 3% (following request for switch-on)
  • Membership rewards scheme
  • Access to retailer discount scheme
  • Online account management

Companies benefit from up to £500 a year in discounts from popular retailers and additional rewards are available for international business spending. You can also spend your points with brands like Apple and Currys PC World.

3. Amex Business Platinum card

The Platinum card is suitable for international businesses and it offers a wide range of features:

  • £595 annual fee
  • 0% interest charge
  • 54-day cashflow
  • £285 for additional cards (first additional card free) (no maximum number)
  • Physical cards for employees (no virtual cards)
  • 2.99% currency conversion fee
  • ATM withdrawals 3% (following request for switch-on)
  • 0% cashback
  • Membership rewards scheme
  • Access to more than 1,200 airport lounges across 130 countries
  • Complimentary annual digital subscription to The Times and The Sunday Times, worth £312 per year
  • Purchase protection and refund protection
  • Online account management

Clients have access to dedicated account managers, a Premium Business Travel service offering complimentary benefits at 1,000 5-star resorts and a dedicated concierge service.

4. Barclaycard Select Cashback Business Credit card

  • £0 annual fee
  • 21.9% interest charge
  • 56-day cashflow
  • No cost for additional cards
  • Physical cards for employees (no virtual cards)
  • 5.99% currency conversion fee
  • ATM withdrawals 3%
  • 2% cashback on all transactions for the first three months reverting to 1% thereafter
  • Online account management
  • Free FreshBooks accounting software worth £228
  • Insurance and purchase protection
  • Business rewards scheme featuring Amazon Business and Avios

The Barclaycard Select Cashback Business Credit card is a good option for small businesses as you only need a turnover of a minimum of £10,000 to apply.

5. British Airways American Express Accelerating Business card

The British Airways American Express Accelerating Business card is suitable for new-start businesses whose employees do a lot of travelling.

  • £250 annual fee
  • 97% interest charge
  • No cost for additional cards (up to 99)
  • Physical cards for employees (no virtual cards)
  • 2.99% currency conversion fee
  • ATM withdrawals 3% (following request for switch-on)
  • Travel accident protection included
  • Online account management via dedicated app and website
  • Two reward schemes for flights and travel

The main draw for many British Airways American Express Accelerating Business cardholders is boosting their Avios (formerly Air Miles) balance to spend on hotels, car hire and flights.

6. Capital on Tap Business Rewards credit card

Capital on Tap is specifically designed for small businesses.

  • £99 annual fee
  • 22.9% interest charge
  • No cost for additional cards (up to 20)
  • Physical cards for employees (no virtual cards)
  • No currency conversion fees
  • No ATM withdrawal fees
  • 1% cashback on all transactions
  • Turnover funding available
  • Online account management
  • Free transfers to your high street bank account
  • Avios and travel rewards

There is great integration with Quickbooks, Freeagent, Xero, Sage and other accounting and bookkeeping platforms with the Capital on Tap Business Rewards credit card.

Apply for Jeeves credit cards for employees

That’s our round-up of the current options for companies wanting credit cards for their employees. As mentioned above, getting credit cards for your employees will help reduce costs, reduce admin, build a better relationship with employees and help your cashflow.

Interested in the Jeeves credit card? Apply below to join.

Sources:

  • https://www.fool.co.uk/personal-finance/credit-cards/reviews/american-express-gold-business-charge-card-review/
  • https://thepointsguy.co.uk/reviews/amex-business-platinum-review/
  • https://www.americanexpress.com/uk/benefits/upgrade/platinum-charge/
  • https://www.americanexpress.com/en-gb/campaigns/gold-business/ 
  • https://www.americanexpress.com/uk/business/business-charge-cards/platinum-business-card/
  • https://www.americanexpress.com/content/dam/amex/uk/legal/business/UK-Express-Cash.pdf
  • https://tinyurl.com/3xj8hevd
  • https://www.barclaycard.co.uk/content/dam/barclaycard/documents/business/cards-for-business/barclaycard_business_credit_card_tandc.pdf
  • https://tinyurl.com/59vhkwye
  • https://www.barclaycard.co.uk/business/cards/credit-cards/select-cashback