Best Barclaycard Business Credit Cards – Forbes Advisor UK – Forbes

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Published: Aug 12, 2022, 10:23am
If you own or run a small company, a business credit card can be a helpful way to manage expenses and cash flow. Barclaycard offers three options – two credit cards, and one charge card – and each comes with different benefits.
We’ve listed the business cards from Barclaycard, alongside their costs and standout perks, below. Bear in mind that you are unlikely to be accepted for a card if you or your business has a history of poor credit. Each of these cards require your business to have a current or planned turnover that exceeds £10,000 a year.
21.90%

1% ongoing cashback
3% cashback on business travel (introductory offer), 2% cashback on spend with BT and EE
£0

21.90%

1% ongoing cashback
3% cashback on business travel (introductory offer), 2% cashback on spend with BT and EE
£0

During the first four months, this card pays a promotional uncapped cashback rate of 3% on all business travel (if you apply before 31 August 2022 and open the account by 30 September 2022).
On all other kinds of spend, as well as on travel after the promotional four months, you’ll earn the usual rate of 1% cashback.
The card doesn’t charge an annual fee but watch out for the 2.99% non-Sterling transaction fee if you plan to use it when abroad.
You’ll also earn 2% on all spending with BT or EE as long as you’re a cardholder.
The Select Cashback card could also be a good option for managing your business’ cash flow, offering a payment period of up to 56 days on purchases before charging interest, as well as free accounting software from FreshBooks.
As with all Barclaycard business credit cards, you’ll gain access to business rewards — exclusive discount and cashback offers on business spend including accommodation and office supplies.
49.40%

0.5% cashback on all spend
Travel insurance included
£150

49.40%

0.5% cashback on all spend
Travel insurance included
£150

If you regularly travel for business, this card could be a good fit since it comes with business travel insurance, access to airport lounges, and a discounted rate of 0.99% on foreign exchange fees.
In exchange for an annual fee of £150 a year, the card also comes with 0.5% cashback on all spending, to a cap of £400 a year. You can also earn 2% cashback on spending with BT or EE.
The card comes with an interest-free purchase period of up to 56 days, so long as you clear the balance in full every month.
When factoring in the annual fee, the card’s APR is 49.4%, so you’ll need to assess whether the perks outweigh the cost. To earn enough cashback to break even on the annual fee, you’ll need to spend £30,000 a year.
However, new cardholders benefit from a six-month introductory purchase rate of 0%.
N/A

38-day purchase period

£42

N/A

38-day purchase period

£42

If you plan to pay off your balance in full every month, this charge card could help you manage cash flow while offering a few perks.
As with all Barclaycard business cards, you’ll receive 2% uncapped cashback when you spend with BT and EE. You will also have access to Business Rewards, which provides regular discount offers from suppliers and retailers.
The card offers up to 38 days to pay your balance. If you don’t pay off your balance in time you’ll be charged a late payment fee of £12.
If you plan to spend abroad, note there’s a non-sterling transaction fee of 2.99%, and a 3% fee for withdrawing cash regardless of currency.
The annual fee for this card is £42.
We have considered all three business cards Barclaycard offers to UK customers, taking note of their fees, interest rates, and perks. We’ve also suggested which kind of cardholder each may suit, although requirements and priorities vary.
Although the card information was correct at the time of publication, deals and rates can change, while some welcome bonuses are limited time offers.
Barclaycard offers two business credit cards and one charge card. These cards might appear similar, but there are some important differences to bear in mind.
Charge cards do not technically offer credit. Instead, they allow you to make purchases with the expectation that you will clear the balance in full every month.
Although these cards don’t charge interest on your spending, you will be charged late fees if you don’t pay off the whole balance, the cost of which is likely to quickly outweigh any benefits.
Unlike credit cards, charge cards do not come with a pre-set spending limit. This doesn’t mean you can spend indefinitely — instead, your spending limit is regularly updated in line with your usage and personal circumstances.
Whether you’re a sole trader or running a large company, a business credit card can be very useful. As well as keeping your personal and business expenses separate, a credit card can help you manage cash flow and keep track of employee business spending.
Some business credit cards — including those offered by Barclaycard — also come with perks such as cashback and discount offers, which could help you earn back a portion of your business expenses.
To be eligible for one of these cards, you must be aged 18 or over, and director of a business based in the UK. Your business must have an annual turnover of more than £10,000 or, if it’s a new business, a business plan projecting turnover above £10,000.
Barclaycard is unlikely to offer you a business card if you or your business has a history of poor credit.
Costs vary depending on which of Barclaycard’s three business options you choose.
There’s no annual fee on the Select Cashback card for example. But interest at 21.90% APR (variable) is charged. You’ll also pay fees for any non-sterling transactions and cash withdrawals.
If you’re accepted for the Premium Plus credit card, you’ll be charged an annual fee of £150, along with interest if you carry a balance. While non-sterling transaction fees are discounted, there are fees for cash withdrawals wherever you are in the world.
The Barclaycard Select Business charge card carries an annual fee of £42. If you don’t pay off your balance in full and on time every month, you’ll also be hit with a £12 late fee and possible damage to your credit score.
You can apply for a Barclaycard business credit card online or over the phone.
To complete an application, you’ll need to provide details about yourself and your business, including names, contact details, address history, and turnover.
Once your application is processed, you should find out whether you’ve been accepted right away.
If your application is successful, you’ll receive a confirmation email. Your credit card and welcome pack should follow in the post within seven to 10 working days.
Once you have your credit card, you can manage the account online, in Barclays branches, or through the Barclaycard for Business app.
You can also request additional cards for your employees at no extra cost.
Business credit cards offer a range of perks to attract new customers — and Barclaycard’s offerings are no exception.
All three of the provider’s business cards come with 2% cashback on all spending with BT and EE, as well as access to Business Rewards — exclusive cashback and discount offers with a range of travel, retail, and insurance partners.
The Select Cashback card also comes with free accounting software from FreshBooks worth £288 a year.
The Premium Plus credit card offers a couple of additional perks, including business travel insurance and 0.5% cashback on all spending. The amount you can earn back however, is capped at £400.
Different businesses have different needs, and the best credit card option will depend on your individual circumstances.
When selecting a card, you could consider factors including:
I’ve been writing for a broad array of online publications for four years, always aiming to make important insights accessible. It’s my goal to ensure that as many people as possible can make informed decisions about their money, and get the most out of their finances with the least amount of stress.
I’ve been involved in personal finance and property journalism for the past 20 years, editing websites and writing for national newspapers. My objective has always been to offer no-nonsense information to readers that either saves or earns them cash.

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