Sometimes you need a bit more room to flex in your spending – that's where a high limit business credit card can help. We compare options and highlight alternatives.
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Companies of all types rely on business credit cards to manage expenses, earn rewards, and provide a financial cushion for unexpected events. However, not all credit cards are created equal—if your business requires significant spending power, a high limit business credit card can make all the difference.
It’s worth noting, however, that they also bring their own considerations when it comes to application and usage.
While most credit cards are designed for more modest financial management, that’s not the case for all of them. High limit business credit cards offer credit lines designed to support larger purchases, from bulk inventory orders to major equipment upgrades.
While there’s no universal threshold defining "high limit", these cards typically offer credit lines starting at £10,000 and can go as high as £250,000 or more, depending on the provider and your business’s financial profile.
However, since these are by nature a riskier product, lenders tend to be much more selective when it comes to applications – and if you’re a new business or one with a patchy credit history, you might be better off applying for a standard credit card and building your credit profile from there.
When you apply for a credit card, the lender will look at your business’s financial background, including your trading history, turnover and profit, to try and work out how risky it would be to lend to you.
While credit limits on business credit cards tend to be higher than credit limits for personal credit cards, the actual figures vary widely and depend on factors such as:
It’s worth noting that credit limits are not a one-and-done enterprise. Once you have had a credit card with a provider for some time, meeting payments regularly, they may well increase your limit. If you have a moderately healthy business financial history, you’ll likely be offered between £1,000 and £10,000, but this can rise up to five times with a better history.
Here’s a comparison of some of the best high limit business credit cards available – note that many providers don’t advertise an upper limit on their credit cards, as they’re tailored to each customer’s circumstances.
Credit Limit: Up to £250,000.
Annual Fee: £0 - £99.
Rewards: 1% cashback, points for Avios. No annual, FX or ATM fees.
Ideal For: General business spending.
Credit Limit: No preset spending limit.
Annual Fee: £650
Rewards: Membership points and travel rewards.
Ideal For: High-spending frequent travellers.
Credit Limit: Maximum based on status.
Annual Fee: £30 (waived in the first year if annual spend is over £6,000)
Rewards: 1% cashback at eligible fuel and EV charging stations and Mastercard cashback offers.
Ideal For: Small to medium businesses seeking flexible credit limits and cashback rewards.
Credit Limit: £500k to £1 million.
Annual Fee: Bespoke pricing (tiered monthly fees).
Rewards: Variable cashback.
Ideal For: Businesses needing high limits and global expense management.
High limits allow businesses to cover significant expenses without affecting cash reserves.
Many high limit cards offer cashback or points for spending, maximising returns on business expenses.
These cards often come with robust tools for tracking spending, issuing employee cards, and setting limits.
While high limit business credit cards can be strategically beneficial, they also come with potential risks that you should definitely think through before applying.
High credit limits make it easier to accumulate significant debt, especially if spending isn’t carefully managed. Without a clear repayment strategy, your business could struggle to cover monthly payments, leading to financial difficulties.
Many high limit cards require a personal guarantee, which means you’re personally liable for the debt if your business cannot repay it. This could put personal assets, such as your home or savings, at risk if the business faces financial difficulties.
Carrying a balance on a high limit card can result in substantial interest charges, particularly on cards with variable APRs. This can quickly escalate borrowing costs, eroding any benefits from rewards or cashback.
Securing a high limit card often requires excellent credit scores, strong financial documentation, and significant business revenue. Without these, your application could be denied, potentially impacting your credit score.
If employee cards are issued, there’s a risk of misuse or unauthorised spending. Businesses need strict oversight and controls to mitigate this risk.
While high limit business credit cards are a tempting choice for managing large expenses, it's worth noting that issues such as rigid repayment structures, or fluctuating interest rates can catch you out – and leave you exposed. For businesses seeking more flexibility and access to significant capital, iwoca’s Flexi Loan offers an alternative loved by over 150,000 businesses.
Find out what you can achieve with flexible business finance and learn how to apply for an iwoca business loan.
