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  1. #1

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    Default Company Credit Cards

    Are they worth it?

    Almost all of the purchases I make for MyCo use the standard debit card, can it be better to use a credit card? Personally I use a credit card where ever possible 1) for the protection it offers 2) the points. I assume the first is moot for a business card as the protections are all consumer, can you still get a good points total with a company card especially as HMRC only stopped allowing personal credit cards?
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  2. #2

    Nervous Newbie


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    I think a lot depends on your bank

    if you make 100 transactions a month and can place on either debit or credit card

    A bank that charges you 25p per transaction would run up fees of £25 a month if you use Debit Card for all.

    if you use Credit card then just one transaction to pay the Credit Card = 25p fees

  3. #3

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    Quote Originally Posted by SimonMac View Post
    Are they worth it?

    Almost all of the purchases I make for MyCo use the standard debit card, can it be better to use a credit card? Personally I use a credit card where ever possible 1) for the protection it offers 2) the points. I assume the first is moot for a business card as the protections are all consumer, can you still get a good points total with a company card especially as HMRC only stopped allowing personal credit cards?
    I use a Company Credit card and it has basically zero advantages in those senses.

    Literally, the only reason I do it is to easily separate expenses. I.e., I use the CC for all day to day fully reclaimable costs such as lunch, dinner, hotels. I did it originally when I was with SJD and wanted to stop clogging up the spreadsheet with small purchases but I do I carry it on now.

    For me, I do quite like that separation but that's it really. I suppose it could help with cashflow, too.

  4. #4

    My post count is Majestic

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    I've struggled to find any business credit card that offers anything like a decent reward scheme. In fact I don't think I've found anything. The yanks seem to have this pretty well covered as per the link below but it just doesn't seem to be something that's made it's way across the pond.

    https://thepointsguy.com/guide/top-b...-credit-cards/

    I use an IHG and Virgin atlantic card for personal points and have just had to suffer the loss of being able to cream the points with HMRC's very generous (and now non existent) charges option.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  5. #5

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    I use a CC because it's easier for cash flow. I keep only a minimal balance in MyCo's current account and I'd rather move one lump sum over every month rather than have to check if I've got enough funds to use my debit card.

    I also have a Company Amex card and use the membership reward points to top up my Avios...

  6. #6

    More time posting than coding


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    Quote Originally Posted by ladymuck View Post
    I use a CC because it's easier for cash flow. I keep only a minimal balance in MyCo's current account and I'd rather move one lump sum over every month rather than have to check if I've got enough funds to use my debit card.

    I also have a Company Amex card and use the membership reward points to top up my Avios...
    Plus one for company Amex card.

  7. #7

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    I also have a Company Amex card and use the membership reward points to top up my Avios...
    Quote Originally Posted by fidot View Post
    Plus one for company Amex card.
    Interesting - talk to me!

  8. #8

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    Nope, no real advantage to me. Cashflow not a problem, I have a decent warchest. Check using a credit card doesn't have P11D implications.

  9. #9

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    Quote Originally Posted by ladymuck View Post
    I use a CC because it's easier for cash flow. I keep only a minimal balance in MyCo's current account and I'd rather move one lump sum over every month rather than have to check if I've got enough funds to use my debit card.

    I also have a Company Amex card and use the membership reward points to top up my Avios...
    Quote Originally Posted by fidot View Post
    Plus one for company Amex card.
    If any card it would be an Amex, my personal card is an Amex and I’ve got a shed load of points already saved up
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  10. #10

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    Quote Originally Posted by TheCyclingProgrammer View Post
    Nope, no real advantage to me. Cashflow not a problem, I have a decent warchest. Check using a credit card doesn't have P11D implications.
    I too have a warchest... But it's in a savings account and not in my current account. That's why I say CC's aid with cash flow. You don't have to retain a balance in a non interest earning current account to cover debit card purchases. I repay all my CC's every month, I do not carry balances on them. To only move one lump sum over from savings each month vs checking I've got enough in the current account before I make a purchase while out and about is a bit of a faff.

    A rewards offering CC could have P11D implications, that's true if the rewards are personally taken. The cash value of rewards is often quite low. But a CC taken in your company's name, paid for by your company is then only an issue if you use it to make personal purchases. Only business expenditure goes on any of my business cards.

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