Bank of Scotland Business Credit Card review December 2019

Designed for Bank of Scotland’s business customers who also need credit cards for their employees, this card’s interest-free period can help you manage an irregular cash flow.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 17.57% (variable) p.a. with a fee of £32 per annum, your representative rate is 22.4% APR (variable).

22.4%

Representative APR

£32

Yearly account fee

Up to 45 days

Interest-free each billing period

Details

IssuerBank of Scotland
NetworkMastercard
Annual/monthly fees£32 per annum
Purchases17.57%
Purchases interest-free periodUp to 45 days
Cash advances17.57%
Min. credit limit£1,000
Max credit limitSubject to status: £10,000
Additional cards available20

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

With Bank of Scotland Business Credit Card, you can get up to 20 credit cards for your business, and assign them to different employees, each with their own spending limit. Together with a handy app for mobile banking, this allows you to manage all your business’s expenses in a more efficient and controlled way.

However, keep in mind that you’ll be charged £32 per annum for each card you add. The annual fee, although reasonable, isn’t scrapped for the first year – an introductory offer that is common to many other providers.

The other significant feature of this card is a competitive 17.57% standard purchases rate. If you always pay your bill in full and on time, you’ll enjoy up to 45 days interest-free each billing cycle. The two of them together make this card interesting if your business is in need of a bit of extra cash while you wait for your customers to pay their invoices.

Sadly, this card comes with no extra rewards – you don’t get any special treatment in fancy hotels or cashback on your expenses. But it’s a solid and straightforward card that, if used correctly, can make your business life easier.

Finally, Bank of Scotland business credit cards are issued on the Mastercard network, so they can be used at more than 35 million merchants and ATMs worldwide.

How does this deal compare?

Table: sorted by representative APR, promoted deals first
Updated December 13th, 2019
Name Product Purchases Annual/monthly fees Rep. APR Incentive Representative example
Capital on Tap Business Credit Card
39.9
£0
39.9% (variable)
Opt-in to Capital Club for £99 pa to earn 1 point for every £1 spent. 2 points can be redeemed for either 1 Avios or 1p in cashback. 10,000 bonus points when £5,000 spent in first 3 months. Up to 15 free supplementary cards available.
Representative example: When you spend £1,200 at a purchase rate of 39.9% (variable) p.a., your representative rate is 39.9% APR (variable).
Capital on Tap Business Credit Card with Capital Club membership
39.9%
Capital Club £99 p.a. or On Tap Club £249 p.a
39.9% (variable)
Earn 1 point for every £1 spent. 2 points can be redeemed for either 1 Avios or 1p in cashback. 10,000 bonus points when £5,000 spent in first 3 months. Up to 15 free supplementary cards available. Opt-in to On-Tap Club for £249 pa to earn 1 point for every £1 spent. 1 point can be redeemed for either 1 Avios or 1p in cashback. 20,000 bonus points when £5,000 spent in first 3 months. Up to 20 free supplementary cards available.
Representative example: When you spend £1,200 at a purchase rate of 39.9% (variable) p.a., your representative rate is 39.9% APR (variable).
British Airways American Express Accelerating Business Card
22.9%
£210 per annum
81.6% (variable)
Earn 1.5 On Business Points for every £1 spent with BA on eligible flights and 1.5 Avios for every eligible £1 spent on credit card. Earn an extra 3,000 On Business Points annually when £20K or more spent by card anniversary.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a. with a fee of £210 per annum, your representative rate is 81.6% APR (variable).
American Express Gold Business Card
N/A (this product is a charge card).
£125 (£0 in first year)
N/A (this product is a charge card).
Earn 20,000 bonus Membership Rewards® points when you spend £3,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
American Express Platinum Business Card
N/A (this product is a charge card).
£595 p.a.
N/A (this product is a charge card).
Earn 40,000 bonus Membership Rewards® points when you spend £6,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
Metro Bank Business Credit Card Mastercard
14.9%
£0
14.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a., your representative rate is 14.9% APR (variable).
HSBC Commercial Credit Card Visa
15.9%
Year 1 - £0, Year 2 onwards - £32 per annum
22% (variable)
Identity Theft Assistance helpline and online tool. Liability Waiver for companies who have two or more cardholders. 24 hour customer service support.
Representative example: When you spend £1,200 at a purchase rate of 15.9% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £32 per annum, your representative rate is 22% APR (variable).
Bank of Scotland Business Credit Card Mastercard
17.57%
£32 per annum
22.4% (variable)
Representative example: When you spend £1,200 at a purchase rate of 17.57% (variable) p.a. with a fee of £32 per annum, your representative rate is 22.4% APR (variable).

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 606 0286), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the Bank of Scotland Business Credit Card

If you’ve compared credit cards and decided Bank of Scotland offers the one you need, it’s time to take a look at the eligibility criteria.

In order to be able to apply for a Bank of Scotland Business Credit Card, you need to become a Bank of Scotland business customer first. If you aren’t already, you can call Bank of Scotland on the phone and they’ll tell you what to do to switch your account or how to open a new one. You’ll also need to be 18 or older, a UK resident and either a sole trader, or a partner/ director of your business.

If you already are a Bank of Scotland business customer, you can apply for the credit card by filling in an online form. It should take 5-10 minutes and you should be prepared to give information about both yourself and your business. Among other things, they’ll ask for your business address, banking details and annual turnover.

Finally, if you need to add any extra cardholders, be prepared to provide Bank of Scotland with their date of birth, mother’s maiden name, contact number and three years of address history.

Finder credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our team compares business credit cards with similar products on the market and assigns each a score. We look at a range of scoring criteria, from rates and fees to whether you can get additional cards for your team.

Have a look at our credit card methodology page to read more on how our star ratings work.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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