
Business Credit Card
Improve cash flow and manage your business spending with flexible repayment options.
Business Credit Card
Apply for a Business Credit Card and pay no annual fee for the first 12 months.
Other fees may apply, see below for details.
Representative example
Most successful applications will get:
What do the numbers mean?
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This is a figure designed to show how much this account would cost most successful applicants. We use the example of how much it would cost over one year if you borrowed £1,200. It is for illustrative purposes only, and does not reflect the credit limit you will get if you successfully apply.
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APR stands for ‘Annual Percentage Rate’ and is a figure that includes interest rates associated with your Credit Card. A representative APR is a representative figure and it allows you to quickly compare cards.
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When you use your Credit Card to purchase items, you will be charged interest on your purchases if you don’t pay it off in full each month. If you pay off the outstanding balance of your Credit Card each month, you will not be charged purchase rate interest.
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We treat all applications on an individual basis, so the APR you get is determined by the details supplied on your application. Most successful applicants will receive the lowest APR displayed in the representative example.
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A credit limit is the maximum amount you can borrow on your card at any one time. As part of your application we will undertake an affordability assessment based on what you've told us about your business and how much you would like as your credit limit, and using data we hold on your business or which is available externally. Your credit limit will be based on your current circumstances and may vary.
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This is a fee charged every 12 months as a condition of continuing to hold this Credit Card account. Each card added in the first 12 months of the Business Card account opening won’t be charged the first annual fee. After the first year, an annual fee of £32 per cardholder will apply. There may be other costs attached to holding a Credit Card account, which are outlined in this account’s fees and charges below.
Each card added in the first 12 months of Business Card account opening won’t be charged the first £32 annual fee. After the first year, an annual fee of £32 per cardholder will apply.
Credit limits vary based on your individual circumstances and the number of cardholders is subject to your total credit limit.
If lending is agreed, we will carry out a credit check on you and your business. All lending is subject to status and credit application.

Are you eligible?
You can apply for a Business Credit Card if you are:
- An existing Business Current Account holder.
- A sole trader, partner or company director with authority to borrow on behalf of your business.
- Aged 18 or older.
- Using it for business use only.

Keep in mind
- You won’t pay an annual fee for the initial 12-month period. After that an annual fee will apply.
- You will need to pay the minimum amount every month.
- You should only spend what you can afford to pay back.
- A guarantee may be required for Limited Companies and Limited Liability Partnerships.
Fees and charges
The information in these tables summarises key product features and is not intended to replace any terms and conditions.
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APR
Typical 22.4% APR (variable)
Interest rates
Monthly rate
Annual rate
Purchases
1.358%
16.3%
Cash withdrawals
1.358%
16.3%
Interest-free period
- Maximum 45 days on new purchases if you pay your balance in full and on time each month.
- No interest-free period on cash withdrawals.
- Maximum 45 days on new purchases if you pay your balance in full and on time each month.
- No interest-free period on cash withdrawals.
Interest charging information
You will not pay interest on new purchases if you pay your balance in full and on time. Otherwise, the period over which interest is charged is as follows:
- Purchases: from date transaction is added to the cardholder account until paid in full.
- Cash withdrawals: from date transaction is added to the cardholder account until paid in full.
- If you repay your balance in full, you will pay interest on cash withdrawals on consecutive statements. The first statement will cover the period from the date the cash withdrawal is added to the cardholder account to the statement date and the following will show interest payable between the previous statement date and the date of your repayment
You will not pay interest on new purchases if you pay your balance in full and on time. Otherwise, the period over which interest is charged is as follows:
- Purchases: from date transaction is added to the cardholder account until paid in full.
- Cash withdrawals: from date transaction is added to the cardholder account until paid in full.
- If you repay your balance in full, you will pay interest on cash withdrawals on consecutive statements. The first statement will cover the period from the date the cash withdrawal is added to the cardholder account to the statement date and the following will show interest payable between the previous statement date and the date of your repayment
Allocation of payments
We use your payments to reduce the amount you owe in the following order:
- any overdue amounts from previous statements, then
- the remaining balance on your statement; then
- any recent transactions not yet shown on your statement.
We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first.
For further details, refer to your Business Credit Card terms
We use your payments to reduce the amount you owe in the following order:
- any overdue amounts from previous statements, then
- the remaining balance on your statement; then
- any recent transactions not yet shown on your statement.
We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first.
For further details, refer to your Business Credit Card terms
Minimum repayment
You must pay at least the minimum payment every month of the higher of £5 or the total of:
- Any interest charged in the statement period;
- Any Default charges charged in the statement period;
- 1/12th of the annual fees; and
- 1% of the balance shown in the Statement.
If your outstanding balance is less than £5, you must pay the full amount you owe.
If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance.
You must pay at least the minimum payment every month of the higher of £5 or the total of:
- Any interest charged in the statement period;
- Any Default charges charged in the statement period;
- 1/12th of the annual fees; and
- 1% of the balance shown in the Statement.
If your outstanding balance is less than £5, you must pay the full amount you owe.
If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance.
Business credit limits
Minimum business credit limit £1,000. Maximum business credit limit £10,000 subject to status
Minimum business credit limit £1,000. Maximum business credit limit £10,000 subject to status
Fees
Each card added in the first 12 months of Business Card account opening won’t be charged the first £32 annual fee. After the first year, an annual fee of £32 per cardholder will apply.
Each card added in the first 12 months of Business Card account opening won’t be charged the first £32 annual fee. After the first year, an annual fee of £32 per cardholder will apply.
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Cash withdrawals
2.5% handling fee, minimum £2.50
Copy of statements
£6 for a copy of a non-current statement
Default charges
£12 for late payments, returned payments or if you exceed your business limit
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Payment scheme exchange rate
You can find indicative rates at www.mastercard.us/en-us/consumers/get-support/convert-currency.html
Non-Sterling transaction fee
2.95% of the amount of the Sterling transaction value. If withdrawing cash, you will also pay the cash withdrawal charge.
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Late payment fee
£12
Business limit exceeded fee
£12
Returned payment fee
£12
How does a Business Credit Card work?

Spend within your limit
Simply stay within your agreed credit limit to ensure you don’t incur default charges. Note that you may incur other fees as per our fees and charges rates above.

Choose how to repay your balance
You have two options to repay your balance:
- Pay back the total amount you’ve borrowed and pay no interest.
- Pay off part of the balance and pay interest on the remaining amount.
Frequently asked questions
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You can use a business Credit Card for any of your business transactions and expenses. This includes things like equipment, travel costs, entertainment or office supplies. Your Business Credit Card can be used anywhere that accepts Mastercard®.
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You can apply for a Business Credit Card by logging in to our online banking services or business banking app.
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As part of the application process, we will carry out a credit assessment which may include a bureau check. Unless your credit history shows multiple applications, your credit rating shouldn’t significantly deteriorate. Lenders are likely to see occasional enquiries as part of a typical business process.

Looking for a Business Charge Card?
Our Business Charge Cards are another affordable way to pay for daily business expenses. You’ll get up to 45 days of interest-free credit but you’ll need to pay your balance in full each month.
Helping you compare our credit card currency charges with other providers
You can now compare our currency conversion charges for card transactions in euro and other EEA currencies. We display these charges as a percentage mark up over the European Central Bank reference rate (ECB rate). The table below does not take into account any other transaction costs we charge, for example foreign currency cash fees.
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Your Credit Card foreign currency transaction fee mark up over the ECB rate. |
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Exchange rates
The table should be used as a guide only. Rates are updated once a day on business days. We use Mastercard rates and ECB rates which are subject to change.
Transactions in EEA currencies other than euro will be converted to euro first, then pounds sterling.
You can find the latest available Mastercard exchange rate here.
Fees for currency conversion
The comparison above uses the credit card standard non-sterling transaction fee of 2.75%.
*Up to 45 days of interest-free credit applies to all purchases, but there may be other charges and fees for non-sterling purchases.
**To provide you with Buyers Protection Insurance and Travel Insurance, Bank of Scotland works with Aspire Insurance Advisers, who administer the policy on behalf of Certain Underwriters at Bank of Scotland.
Cashpoint® is a registered trademark of Bank of Scotland.
Mastercard® is a registered trademark.