Why your business card needs to do more than just spend money

Running a business requires you to make financial decisions each day. While most business owners see their credit card as simply a way to make payments, the right option should do much more for your company. And understanding how features like payment flexibility, rewards and spending tools can work together helps create opportunities beyond just spending money and may even help you make better financial decisions.

Looking beyond basic payments

Business credit cards have evolved from their origins as simple payment methods. When choosing a card, consider the full range of features available and how they could support your day-to-day operations.

Knowing the ins and outs of modern card features

Most business cards now offer a combination of payment options, as well as rewards programs and management tools. While these might seem like nice-to-have extras, they can actually have a more important role in how you run your business.

From spreading costs over time to earning rewards on regular purchases, these features can help you make more informed decisions about your business spending.

Features that matter

Before selecting a business card, consider what's most valuable for your situation. Some businesses might benefit most from flexible payment terms; others could find spending analytics more useful. Consider your typical monthly expenses, payment patterns and business planning needs.

Making features work for your business

Different types of businesses tend to have different payment needs and spending patterns. A retail business might make frequent smaller purchases from multiple suppliers, while a construction firm might need to make larger, occasional payments for materials and equipment.

Take some time to map out your typical business spending. When do you make your largest purchases? Do you deal with seasonal changes that affect your cash flow? These patterns can help determine which card features will be most useful.

Some businesses find the ability to spread payments particularly valuable, especially when managing larger purchases or dealing with irregular income patterns. Others might benefit more from tracking spending across different projects. What matters is seeing these features not as add-ons, but as ways to make managing your business simpler.

Turning rewards into growth

Running a business means making countless purchases throughout the year. Each of these transactions presents an opportunity to get something back through cashback. Take Funding Circle's Business credit card. With 2% cashback on all spending for the first six months (up to £2,000) and 1% uncapped thereafter, these returns can turn into something meaningful for your business.

Consider creating a dedicated 'rewards fund' within your business, one that serves several purposes:

• Building an emergency buffer for unexpected expenses
• Creating a pool for staff incentives or team events
• Funding small improvements to your business
• Setting aside capital for future investments

While it might be tempting to view cashback as a nice bonus, you can be more strategic about how you use these rewards. For instance, if you're using your card for regular business expenses like supplies, travel costs or office equipment, you're earning cashback on spending you'd be doing anyway.

With up to 42 days interest-free credit and no monthly fees, you can focus on deciding how to best use these rewards for your business.

Beyond basic payment tools

Modern business finance needs to offer more than just ways to spend money. Having control over how and when you make payments can significantly impact your business planning and cash flow management.

Smart payment options

Traditional business cards often limit you to either paying in full or carrying a balance. More advanced options like FlexiPay from Funding Circle provide additional choices, letting you spread costs over 1, 3, 6, 9 or 12 months. It also comes with the added ability of making a cash transfer directly from your account to a supplier or your own bank account, just like making a bank transfer. With more flexibility, you can structure payments around your business needs.

Managing multiple payment methods

Business spending rarely follows a single pattern. You might need to make an immediate payment while meeting suppliers, then handle multiple invoices back at the office. Having options to pay by card or make direct transfers, with transparent fees, can help you manage different payment scenarios more effectively.

Strategic payment planning

Your approach to payments can have a real impact on your business plans. Having more control over aspects like payment timing can help you better align your spending with business cycles rather than letting payment schedules dictate your decisions.

More than money

Modern business moves too fast to settle for cards that just help you spend money. Look for features that give you real control over how and when you pay, plus rewards that make your spending work harder. Your business card should be working as hard as you do.

08/01/25: While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice.

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