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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.
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APR
Typical 22.4% APR (variable)
APR
Interest rates
Typical 22.4% APR (variable)
Monthly rate
Annual rate
APR
Purchases
Typical 22.4% APR (variable)
1.358%
16.3%
APR
Cash withdrawals
Typical 22.4% APR (variable)
1.358%
16.3%
APR
Interest-free period
Typical 22.4% APR (variable)
- 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.
APR
Interest charging information
Typical 22.4% APR (variable)
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.
APR
Allocation of payments
Typical 22.4% APR (variable)
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, please refer to your credit card terms and conditions.
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, please refer to your credit card terms and conditions.
APR
Minimum repayment
Typical 22.4% APR (variable)
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.
APR
Business credit limits
Typical 22.4% APR (variable)
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.
APR
Fees
Typical 22.4% APR (variable)
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
Cash withdrawals
Copy of Transaction Receipts
2.5% handling fee, minimum £2.50
£5 per item (there will be no charge if your query reveals an error has been made)
Cash withdrawals
Default charges
2.5% handling fee, minimum £2.50
£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 https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
Payment scheme Exchange rate
Non-Sterling transaction fee
You can find indicative rates at https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
2.95% of the amount of the Sterling transaction value
Payment scheme Exchange rate
Non-Sterling cash fee
You can find indicative rates at https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
2.5% (minimum £2.50)
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Late payment fee
£12
Late payment fee
Business limit exceeded fee
£12
£12
Late payment fee
Returned payment fee
£12
£12
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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.
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