Business Credit Card rates

Our Business Credit Card is a straightforward way for you to manage cashflow and stay on top of business expenses. Read through the tables below to see how your business will be charged for this service.

The information in these tables summarises key product features and is not intended to replace any terms and conditions.

  • 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:

    1. any overdue amounts from previous statements, then
    2. the remaining balance on your statement; then
    3. 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:

    1. any overdue amounts from previous statements, then
    2. the remaining balance on your statement; then
    3. 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

    £32 per card per year

    £32 per card per year

  • Cash withdrawals

    2.5% handling fee, minimum £2.50

    Copy of statements

    £6 for a copy of a non-current statement

    Copy of Transaction Receipts

    £5 per item (there will be no charge if your query reveals an error has been made)

    Default charges

    £12 for late payments, returned payments or if you exceed your business limit

  • Payment scheme exchange rate

    Non-Sterling transaction fee

    2.95% of the amount of the Sterling transaction value

    Non-Sterling cash fee

    2.5% (minimum £2.50)

  • Late payment fee

    £12

    Business limit exceeded fee

    £12

    Returned payment fee

    £12

  • Our Business Credit Card is accepted in millions of outlets worldwide, where the Mastercard sign is displayed. Allowing you to withdraw up to £500 a day, it’s a convenient way to cover costs on the go.

    Find out more about our Business Credit Card