In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
  • Your reviews

Cashplus Business Credit Card review

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Cashplus Business Credit Card Mastercard
4.0
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
Interest-free each billing period
Up to 56 days
Account fee
£0
Minimum credit limit
£100

Our verdict

Currently, you can't apply for the Cashplus business credit card on the Cashplus website, but you can use this page to compare your options.

If you're a Cashplus business customer and have received an invitation for its business credit card, you may be wondering how it scores against the competition.

This is a solid, straightforward business credit card that will do the job just fine, although without giving you any extra perks or rewards. If your business relies heavily on invoices and you need some flexibility to better manage your monthly budget, it may be a good choice.

The rate on purchases is less than competitive, so you really want to avoid carrying a balance from month to month. Provided that you don't, you'll enjoy up to 56 days of 0% interest on your purchases each billing cycle, which is longer than the average.

In the world of business credit cards, the lack of annual fee is quite uncommon and means that if you use this card responsibly you can get monthly credit completely for free, which somewhat makes up for the lack of juicy perks.

As this card is on the Mastercard network it's accepted in more than 40 million locations worldwide. You'll also be able to enjoy access to Priceless Cities experiences.

Pros

  • Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • You may be offered an opening credit limit as low as £100

In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
  • Your reviews

Details

Product overview

Issuer APS Financial Ltd
Network Mastercard
Representative APR 29.9%
Annual/monthly fees £0
Purchases 29.94%
Purchases interest-free period Up to 56 days
Cash advances 39.94%
Minimum credit limit £100
Maximum credit limit Subject to status: £3,000
Incentive
Potential costs 4.0 ★★★★★
Doing its job 4.0 ★★★★★
Extras 5.0 ★★★★★
Overall Finder Score 4.0 ★★★★★

Fees and charges

Minimum monthly payment 5% or £10 (whichever is greater)
Annual/monthly fees £0
Foreign usage charge (EU) 2.99%
Foreign usage charge (rest of world) 2.99%
Cash advance fee 3% (min. £3)
Late payment fee £12
Duplicate statement fee £5
Exceeding limit fee £12
Additional card fee £0
Dormancy fee £0

The Cashplus Business Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.

How does it compare?

Cashplus's card

1 - 1 of 1
Name Product Finder Score Purchases Annual / Monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
Cashplus Business Credit Card Mastercard
4.0
★★★★★
29.94%
£0
N/A
29.9% APR (variable)
Card details
Representative example: When you spend £1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
loading

Other popular business cards

Table: promoted then other popular deals
1 - 4 of 31
Name Product Finder Score Purchases Annual / Monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
Finder Award
CASHBACK
Capital on Tap Business Credit Card
4.2
★★★★★
35.15%
£0
1 point per £1 spent
35.2% APR (variable)
Go to siteCard details
Earn 1 point for every £1 of card spend. Redeem 1 point for 1p (1% cashback)
Representative example: When you spend £1,200 at a purchase rate of 35.15% (variable) p.a., your representative rate is 35.2% APR (variable).
CASHBACK
Barclaycard Payments Select Cashback Business Credit Card
3.7
★★★★★
27.5%
£0
1% cashback uncapped*
27.5% APR (variable)
Go to siteCard details
*Get 1% uncapped cashback on all your business spend. T&Cs apply.
Representative example: When you spend £1,200 at a purchase rate of 27.5% (variable) p.a., your representative rate is 27.5% APR (variable).
Finder Award
CASHBACK
Capital on Tap Business Credit Card (+optional Business Rewards)
4.2
★★★★★
35.15%
£99 per annum
1 point per £1 spent
35.2% APR (variable)
Go to siteCard details
Representative example: When you spend £1,200 at a purchase rate of 35.15% (variable) p.a., your representative rate is 35.2% APR (variable). Optional upgrade to Business Rewards (£99 per year).
Barclaycard Select Charge Card
3.9
★★★★★
N/A (this product is a charge card).
£42 per annum
N/A
3.6% APR (variable)
Go to siteCard details
Control spend and manage business expenses. Access to business rewards with discounts and offers from leading retailers and suppliers. T&Cs apply.
loading

Approval for any credit card depends on your status. The representative APRs shown represent 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. Most of the data in Finder's comparison tables is provided by Moneyfacts.

Repayment options

You can make manual repayments through Cashplus's app by logging in to your online banking or over the phone (0330 024 0924). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) 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

Unfortunately, as of February 2019 the Cashplus Business Credit Card is only available to customers who have received an invitation code from Cashplus, either via email or letter. If you have, the online application process should only take a few minutes.

In order to apply successfully, you must be at least 18 and a UK resident. Your business needs to be registered with Companies House and must not have recently received any CCJs (county court judgements).

Once you've completed the form, Cashplus will give you an answer immediately.

Frequently asked questions

What credit limit will I get with the Cashplus Business Credit Card?

If Cashplus offers you this deal, it will specify a tailored credit limit based on Cashplus's assessment of your situation and your business. The minimum limit offered on the card is £100, while the maximum is £3,000. Once you've had the card for a while and shown Cashplus you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Cashplus Business Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Cashplus Business Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 39.94%, which is 34% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Cashplus Business Credit Card abroad?

Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£168.83), it'll cost you around £5.05 in fees.

What is the minimum payment on the Cashplus Business Credit Card?

Each month, you must pay at least 5% of your balance at that point or £10.00 – whichever of the 2 figures is greater. So if you had, say, £190.00 outstanding, you'd pay £10.00, and if you had £800.00 outstanding, you'd pay £40.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.

Can I get additional Cashplus Business Credit Cards for my team?

Yes. Cashplus doesn't specify a maximum number of cards you can request. There's no fee for additional cards.

Finder credit card scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score business credit and charge cards to determine their value against similar products on the market. We look at a number of important factors, like the flexibility it offers, any rewards you can earn through company spending, account management tools, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Your reviews

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