For small business entrepreneurs credit cards act as a good source of credit for 30 days. It offers convenient ways for payments and flexible repayment options where the cash flow can be managed getting the benefits of the credit timeline. The features such as increased credit limit, expense tracking, rewards payments and cash back
Credit cards provide interest free payments and good repayment options. Online banking helps manage your business transactions daily. There are some add-on services such as travel insurance, annual subscriptions, discounts, offers, airport lounge access and other additional benefits provided on the credit cards.
Who is eligible for credit cards for small businesses?
- The minimum age is 21 years old
- The nationality should be of UAE or Expats
- Good Credit score
Documents for UAE Nationals
- Memorandum of Association
- Partnership Agreement
- Certificate of Commercial Registration
- Power of Attorney
- Ultimate Beneficial Owners Proof
- Trade Licence
- Bank Reference Letter
- Emirates ID
- Free Zone Certificate of Incorporation
- Company Legal Documents (as applicable)
Documents for Expats
- Free Zone Certificate of Incorporation
- Company Legal Documents (as applicable)
- Memorandum of Association
- Partnership Agreement
- Ultimate Beneficial Owners Proof
- Power of Attorney
- Bank Reference Letter
- Certificate of Commercial Registration
- Emirates ID
- Residence Visa
- Trade Licence
- National ID
Best 6 Credit Cards for small business in the UAE
CBD Business credit card
Features & Benefits
- This card comes with a credit limit of AED 250,000 and has no annual fees
- Enjoy an interest-free credit period of up to 52 days.
- You can get a cash advance of up to 50% of your credit limit.
- At low interest rates of 3.45% per month get flexible line of revolving credit
- Provides for a Flexible repayments options
- Annual charges are Nil
ADIB Business Platinum Covered Card
Features & Benefits
- credit limit of up to AED 10,000,000
- Provides advanced Chip & PIN technology.
- Withdraw up to 60% of your credit limit in cash
- Receive unlimited supplementary cards for family members.
Emirates NBD Business Credit card
Features & Benefits
- Pay as little as 5% of your outstanding balance monthly.
- No minimum payment required.
- Withdraw up to 75% of your credit limit in cash at branches and ATMs worldwide.
- Start an installment plan at a low monthly interest rate.
- Earn Plus Points on both primary and supplementary card transactions, up to AED 2000 per month.
- 5% on hotels (max 400 points/month)
- 2% on international transactions (max 1000 points/month)
- 1% on government services, including DED transactions, utility bills, and petrol (max 300 points/month)
- 0.5% on groceries, supermarkets, and other spends (max 300 points/month)
RAKBank Titanium Business Credit Card
Features & Benefits
- No annual membership fee.
- Low interest on retail purchases.
- Increased credit limit for cardholders.
- 90% withdrawal on limit
- Up to 55 days of interest-free credit.
- Easy access to the CCC facility
- Free for life credit card
Ajman Bank Accelright Business credit card
Features & Benefits
- These cards come with credit limits of up to AED 10 Million, providing ample flexibility for your team’s needs.
- The first year’s annual fee will be waived.
- Grace period-55 days
- Revolving line of credit at low profit rate
American Express Corporate Card/Company Card
Features & Benefits
- Offers centralized management for employee purchases, travel bookings, and vendor payments, aiming to optimize your time and cash flow.
- Business consultants are available to provide tailored support for your specific business needs.
- Improve process efficiency
- Vendor management payment
- Gives businesses greater visibility
- Improves Cashflow for business
Take away
Small business credit cards are crucial for startups, as they enhance cash flow, protect assets, and promote growth. They offer financial control, operational efficiency, and scalability by streamlining spending, providing international transaction rewards, and integrating with accounting systems. This helps manage expenses and allows you to focus on strategic tasks.
Small Business credit cards, with their high spending limits, customizable rewards, and seamless accounting integration, can significantly improve your startup’s financial health and long-term success. The right card can boost liquidity, creditworthiness, and access to funding, enabling new growth opportunities.
About the author
Vinay Kumar Goguru is a finance professional with more than 8 years of diverse experience as a researcher, instructor and Industry work experience with both public and private entities. Prior to MyMoneySouq, he spent 6 years in Berkadia, It's a commercial mortgage banking company. He has a "Doctoral Degree in Commerce" and two master's degrees with a specialization in Finance, one as Master of Commerce and other as Master of Business Administration. He has written several articles on personal finance, published by different International journals. He loves traveling, reading and writing is his passion. He has a dream of writing a book on his favorite finance topics.
