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Credit > Credit Cards > UK Credit Cards > MBNA Self Employed Business Card
A business credit card can also help improve your cash flow. This card has up to 57 days interest free credit if you pay your statement balance in full and on time each month. This can give you the flexibility you need to balance your business's cash flow more easily.
You will also have the credit card and accompanying cheque book in your business's name making it look much more professional.
You can also benefit from free purchase protection as well as specially negotiated discounts from many business suppliers.
If you already have a credit card and are looking to transfer a balance to a lower interest card you may find the balance transfer offer appealing. The interest rate on balance transfers is currently discounted to 4.9% p.a. for the first 6 months of card membership.
The standard interest rate on both purchases and balance transfers is a Typical 17.9% APR variable.
There is no annual fee for this card. However, you must have been running your own business for at least 2 years in order to apply.
Summary Table
While there is no rewards programme with this card, there is also no annual fee which can be more unusual for business Credit Cards.
The interest rates and fees on this card seem fairly competitive with other business cards. Don't forget, though, that you must have been in business for at least 2 years in order to apply so this card isn't suitable for new start up businesses.
Application
MBNA Self Employed Business Credit Card
MBNA has now brought out a card specifically designed for self employed business owners.Why Have a Separate Card?
Having a separate credit card for you business expenses can help in a number of ways. Firstly, it makes it much easier to have all your business purchases on a separate card making it much easier to do any necessary accounting.A business credit card can also help improve your cash flow. This card has up to 57 days interest free credit if you pay your statement balance in full and on time each month. This can give you the flexibility you need to balance your business's cash flow more easily.
You will also have the credit card and accompanying cheque book in your business's name making it look much more professional.
Card Benefits
One benefit of this card is that you get itemized monthly statements. If you have employees who need an additional card, it makes it much easier to monitor who is spending what.You can also benefit from free purchase protection as well as specially negotiated discounts from many business suppliers.
If you already have a credit card and are looking to transfer a balance to a lower interest card you may find the balance transfer offer appealing. The interest rate on balance transfers is currently discounted to 4.9% p.a. for the first 6 months of card membership.
The standard interest rate on both purchases and balance transfers is a Typical 17.9% APR variable.
There is no annual fee for this card. However, you must have been running your own business for at least 2 years in order to apply.
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Summary Table
| Standard Interest Rate | Typical 17.9% APR Variable |
| Balance Transfers | Typical 17.9% APR Variable |
| Rewards | None |
| Annual Fee | None |
| Online Account Access | Yes |
| Purchase Protection | Yes |
| Interest Free Period | Up to 57 days |
| Late Payment Fee | £20 |
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Credit Sources Review
If you are self employed and are looking to separate you home and business expenses, a card such as the MBNA Self Employed Business Card could be a good starting point. It can help you manage your business expenses and cash flow much more easily.While there is no rewards programme with this card, there is also no annual fee which can be more unusual for business Credit Cards.
The interest rates and fees on this card seem fairly competitive with other business cards. Don't forget, though, that you must have been in business for at least 2 years in order to apply so this card isn't suitable for new start up businesses.
Application
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