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
Interest rates
Monthly rate
Annual rate
Interest rates
Purchases
Monthly rate
1.358%
Annual rate
16.3%
Interest rates
Cash withdrawals
Monthly rate
1.358%
Annual rate
16.3%
Interest rates and repayment options
APR
APR
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.
APR
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
APR
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, please refer to your credit card terms and conditions.
APR
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.
APR
Business credit limits
Minimum business credit limit £1,000. Maximum business credit limit £10,000 subject to status
APR
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.
-
Charges
Cash withdrawals
2.5% handling fee, minimum £2.50
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
-
Foreign fees
Payment scheme exchange rate
You can find indicative rates at https://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.
-
Default charges
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.
-
Important Legal Information
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.
Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.
We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.