Low APR Business Credit Cards in the UK and US (Comparison Chart) [2023]

If you’re looking for a low APR business credit card, you may be dealing with:

  • High interest rates that diminish your margins
  • Additional fees that increase costs
  • Hidden fees that appear on your first statement

In this article, we run down the top 9 UK and US business credit cards with low (or no) APR so you can get the best deal. We’ll cover:

Don’t apply for a low APR business credit card, apply for a 0% APR BUSINESS CARD today with Jeeves.

Jeeves: The low APR business credit card designed for global company growth

As two-time founders, we know first-hand just how tough it is for companies without 3 year’s accounts to get access to credit at a fair price. So, when we launched Jeeves, we made sure that startups, scale-ups and small and medium-sized businesses (SMEs) would have the best possible terms on the credit they need to grow their business. 

Here are the Jeeves card’s key features at a glance:

  • No APR
  • No annual fee
  • No transaction fees
  • Unlimited company cards for employee spending and company expenses
  • Virtual and physical business credit cards
  • Free spend and expense management software
  • Multi-currency account
  • Up to 2% cashback in your first 90 days
  • Up to 1-1.5% after 90 days
  • Issue cards instantly upon account approval
  • Employee personal login 
  • Enhanced security with 2-Factor authentication for every cardholder
  • Set spending limits and spending intervals
  • Freeze and eliminate cards with a click
  • 30-day interest-free credit window
  • 5-minute sign-up process
  • 24-hour application turnaround time
  • Card network: Visa or Mastercard®, depending on the region where the card will be issued

Here’s an in-depth look at what you’ll get with a Jeeves business credit card:

Limited fees on all transactions to improve margins

The interest you pay on credit card purchases quickly adds up. So do the fees for having an account in the first place, using additional cards or making purchases.

We solved this by eliminating account-related charges. Jeeves is a business credit card with no annual fees, APR or transaction fees (there's just a competitive FX fee on international purchases). 

We also don’t charge interest if your balance is paid off every 30 days. But we might charge a late fee if you take longer than 30 days.

And, when you and your staff are away from home, we make things as comfortable as possible. Jeeves cardholders get free access to 1,300 airport lounges.

As one of the best cash flow credit cards, Jeeves enables you to increase your margins with special perks and benefits where you could save a further $100,000 per annum. Take advantage of offers on services that range from Slack and SendGrid to HubSpot and ClickUp.

A credit card for high-growth businesses

From time to time, an important opportunity might come along and you can’t take advantage of it because, if you did, you’d have no money to meet your fixed costs when they become due.

This is why credit is so important for new and high-growth companies.

Jeeves is a corporate credit card tailored for business growth. We provide you with extra money you can put to work for your business fast. And if you need further financing to extend your cash runway or take your company to the next level, you can apply for Jeeves Capital, our growth business loans and working capital financing product. 

Apply for a Jeeves card and we can give you a decision in as little as 24 hours. We don’t need several years’ accounts, just proof of healthy business finances. 

We designed a fast approval business card with a 30-day credit limit to help you grow. You also have a personal Jeeves account manager you can speak to if you ever need to ask for an extension. Tell them why you need it and they’ll come back to you with an answer fast.

Jeeves low apr business credit card with connected app

A spend management solution for easier expense management with unlimited employee cards

Jeeves is more than a credit card. It’s an international spend management solution that will save your finance team time, optimise your business spend, and free you of the hassle of employee expense reimbursement

If you’re still asking employees to use their own cards to make business purchases, give them a Jeeves card instead. End employee frustration of waiting up to 60 days to be reimbursed. Cut down your finance team’s workload at the same time. 

With Jeeves’ global expense management, you’ll have better control of your business spend. For example, you can:

  • Issue or withdraw employee business credit cards at any time no matter where staff is located
  • Set, raise and lower spending limits on individual cards
  • Freeze cards in an instant if you suspect fraud or eliminate a card with a click in case of theft
  • Check your balance in real time throughout the month
  • Filter, organise and download transactions in CSV or Excel files
  • Integrate your business expense transactions with Xero, QuickBooks and SAP, with daily synchronisation
Jeeves low apr business credit card connects to global expense management software

You can also use the Jeeves’ dashboard to analyse where wasteful tail-end spending is occurring. For example, direct your employees to use specific suppliers offering better value for money on goods and services, like car rental and accommodation.

Issue virtual business credit cards directly through the Jeeves dashboard. If you use the same suppliers regularly, issue a virtual card for each supplier you make purchases with. This makes keeping track of spending easy.

Pay overseas vendors and suppliers via Jeeves Pay

Once you’re a Jeeves client, you’ll have instant access to Jeeves Pay, our domestic and international business-to-business payments. 

With Jeeves Pay, you can access your existing line of credit to make overseas payments in just a few minutes in over 140 currencies. Settlement times range from instant to 3 business days, depending on the destination country. You’ll pay a low one-time fee and can better manage your payments in your connected Jeeves spend management system.

We know Jeeves may not be the right fit for every business owner, so we’ll compare 8 other low APR business credit cards for UK and US companies that may be right for you.

Low APR business credit cards UK comparison chart

low apr business credit cards in the UK comparison chart

Low APR business credit cards UK

Here are 4 of the best low APR business credit cards for UK companies and sole traders. 

Metro Bank Business Credit Card

  • 14.9% representative APR
  • 14.9% purchase APR
  • 14.9% cash advance APR
  • 2.99% forex fee
  • 56-day interest-free period
  • Up to 25 additional cardholders
  • No annual account fee
  • No additional cardholder fee
  • No reward programme
  • In-person branch visit to apply for your card
  • Card network: Mastercard®

At 14.9% APR, the Metro Bank Business Credit Card has one of the lowest rates of any company credit card charging interest on purchases. It also has no annual fee, but it does charge for cash advances and foreign exchange purchases. 

Currently, you can only apply for a Metro card in-branch. If you’re accepted, they have the facility within branch to print off your card straight away.

Barclaycard Select Cashback Business Credit Card

  • 21.9% representative APR
  • 21.9% purchase APR
  • 24.85% cash advance APR
  • 2.99% forex fee
  • 3% cash advance fee
  • 1% cash back on transactions
  • 56-day interest-free period
  • Additional cardholders earn cashback
  • No annual account fee
  • No additional cardholder fee
  • Reward points and programme, including free FreshBooks accounting software
  • Card network: Mastercard®

Among established High Street banks, Barclaycard’s Business Select Cashback card has one of the lowest interest rates, and it also offers 1% cashback. Its reward scheme is generous, too. There is no annual fee but, like many other card issuers, their forex and cash advance fees are expensive.

HSBC Commercial Credit Card

  • 22% representative APR
  • 15.9% purchase APR
  • 15.9% cash advance APR
  • 2.99% forex fee
  • 2.99% ATM fee
  • £0 annual account fee for the first year
  • £32 additional cardholder fee
  • 56-day interest-free period
  • Additional cardholders earn cashback
  • No business rewards programme
  • Card network: Visa

HSBC’s rate of 22% is below the median average APR of UK business credit cards and it’s very competitive with its purchase and cash APRs in comparison to other packages. 

There’s no reward programme and its fees for forex transactions and cash advances are higher than other credit card providers.

Bank of Scotland Business Credit Card

  • 45-day interest-free period
  • Additional cardholders earn cashback
  • 22.4% representative APR
  • 16.3% purchase APR
  • 16.3% cash advance APR
  • 2.95% forex fee
  • £32 annual account fee
  • £32 additional cardholder fee
  • No business rewards programme
  • Up to 20 employee cards available
  • Card network: Mastercard®

Almost identical to the HSBC offer is the Bank of Scotland Business Credit Card. Its interest-free credit period is less generous, but its forex charge is fractionally better. There is no reward programme and, like HSBC, primary and additional cardholders pay £32 a year for access. 

Low APR business credit cards US comparison chart

low apr business credit cards in the US comparison chart

Low APR business credit cards US

Most of the low APR business credit cards selected for US companies offer an introductory 0% APR for a limited period of time, from 12 to 15 months or billing cycles, which can benefit new businesses. After this bonus period, you’ll start to pay the APR. So choose the one the best meets your business needs and type of spending. 

American Express Blue Business Cash™ Card

  • 0.0% introductory APR for first year
  • 16.99% - 24.99% variable rate APR after the first 12 months
  • $250 statement credit on a minimum spend of $3,000 in your first 3 months
  • 2% cashback on eligible purchases (on your first $50k per annum) 
  • 1% cashback on eligible purchases (after the first $50k per annum)
  • $0 annual fee
  • 2.7% foreign transaction fee (after conversion to USD)
  • Transactions automatically sync with QuickBooks
  • No monthly fee on Vendor Pay by Bill.com for the first user 
  • Card network: American Express

With quick approval times and a 0% intro APR for the first year, the Amex Blue Business Cash Card is a good low APR card choice for US companies. It also offers cashback and is almost identical to its sister rewards credit card, the Blue Business® Plus Credit Card from American Express, which allows you to earn Amex Membership Rewards points instead of cashback. 

U.S. Bank Triple Cash Rewards Visa® Business Card

  • 0% intro APR for the first 15 billing cycles
  • 17.74% - 26.74% variable APR after your first 15 billing cycles
  • $0 annual fee
  • 3% cash back on select purchases (i.e., office supply shops, mobile phone providers, restaurants, gas and EV stations)
  • 1% cash back on all other purchases
  • $100 statement credit when you purchase on select accounting SaaS, such as FreshBooks or QuickBooks
  • 5% cash back on travel-related purchased booked via the Travel Rewards Center
  • One-time offer $500 in cash back if you make purchases worth $4,500 in the first 150 days on the account owner's card
  • Card network: Visa

This U.S. Bank business credit card offers a 0% introductory APR for your first 15 billing cycles and a $0 annual fee on all cards for you and your employees. After 15 billing cycles, the APR applied may depend on your creditworthiness. You may also need to provide the personal credit scores of all employees who you want to have cards. 

Chase Ink Business Unlimited® credit card

  • 0% intro APR for 12 months from account opening
  • 16.99%–22.99% variable APR after first year
  • $0 annual fee
  • 3% forex fee
  • Balance Transfer charge: $5 or 5% of the amount (whichever is more)
  • Cash Advance charge: $15 or 5% of the amount (whichever is more)
  • $900 bonus cash back if you spend a minimum of $6,000 within the first 3 months of opening your account. 
  • Up to 1.5% cash back rewards
  • Travel insurance and purchase protection available
  • Free employee cards
  • Credit card network: Visa

The Chase Ink business Unlimited card offers free APR from your account opening until your first 12 months of membership. It also has a low interest rate after the first 12 months. You’ll also have $0 annual fees for all cardholders (though cardholder eligibility depends on if employees are U.S. residents). Balance transfers may not be available on the Business Unlimited plan. You can convert your cashback rewards into cashback, travel credits, gift cards and more via the Chase Ultimate Rewards programme.

Capital One Spark 1.5% Cash Select business card

  • 0% intro APR for the first 12 months from account opening
  • 18.99% - 26.99% variable APR
  • $0 annual Fee
  • Free balance transfers
  • Fee-free forex 
  • 3% or $3 cash withdrawal fee (whichever is greater)
  • Up to 1.5% cash back on all purchases
  • Up to 5% cash back on travel-related purchases made via Capital One Travel
  • Free employee corporate credit cards
  • Card network: Mastercard®

This Capital One Spark card offers 12 months of 0% introductory APR, free employee cards, and $0 annual fee. It’s also one of the best business cards with quick approval, with turnaround times that can be as little as a few minutes. After your first year of using the card, Capital One will base your variable APR rate on your creditworthiness.

Access the best business credit card with low APR credit with Jeeves

Growth is vital for all businesses, but it’s expensive and risky. Don’t look for low APR business credit cards - apply for the Jeeves no APR business credit card instead with no fees and market-leading cashback.

For competitive funding for growth, apply for a Jeeves card today.

Sources:


https://www.finder.com/uk/metro-bank-business-credit-card
https://www.finder.com/uk/barclaycard-business-select-cashback-credit-card
https://www.business.hsbc.uk/en-gb/payments/business-card/business-credit-card
https://www.finder.com/uk/hsbc-business-credit-card
https://business.bankofscotland.co.uk/business-home/rates-and-charges/business-credit-card-summary-box.html
https://www.barclaycard.co.uk/business/cards/credit-cards/select-cashback
https://www.americanexpress.com/en-us/business/credit-cards/blue-business-cash/
https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/terms/bluebusinesscash-credit-card/45094-9-0?key=tncBody&rwdFlag=rwd
https://www.usbank.com/business-banking/business-credit-cards/compare-credit-cards.html
https://applications.usbank.com/oad/catalog/terms.controller?locationCode=8069&offerId=VD67GB17QP&sourceCode=43740
https://creditcards.chase.com/business-credit-cards/ink/unlimited
https://sites.chase.com/services/creatives/pricingandterms.html/content/dam/pricingandterms/LGC54786.html
https://www.capitalone.com/small-business/credit-cards/spark-cash-select-good-credit/