Clydesdale Bank Business Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 16.9% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £28 per annum, your representative rate is 22.4% APR (variable).
- Interest-free each billing period
- Up to 59 days
- Minimum credit limit
- £500
Our verdict
Keep up to date with accounting information and stay in control of your expenses with Clydesdale Bank.With an annual fee that's waived in the first year, Clydesdale Bank offers a straightforward business Mastercard with impressive reporting, account summaries and custom alerts for transactional information.
Provided you clear your balance in full and on time each month, your business can take advantage of up to 59 days of 0% interest on your sterling purchases. You'll also automatically receive special discounts at a range of participating retailers with the Mastercard Business Savings scheme.
Pros
- Up to 59 days to spread the cost of purchases (provided you pay off your balance in full each month)
- A relatively low 16.9% interest rate on purchases
Cons
- Annual fee
- Applicants with low credit scores are unlikely to be eligible
Details
Product Overview
| Issuer | Clydesdale Bank |
| Network | Mastercard |
| Annual/monthly fees | Year 1 - £0, Year 2 onwards - £28 per annum |
| Purchases | 16.9% |
| Purchases interest-free period | Up to 59 days |
| Cash advances | 27.9% |
| Minimum credit limit | £500 |
| Maximum credit limit | Subject to status |
| Additional Rewards Info | Receive discounts at participating retailers with the Mastercard Business Savings scheme. Access to SmartData, an online accounting information system to help control business expenses. |
| Potential costs | 4.0 ★★★★★ |
| Doing its job | 4.0 ★★★★★ |
| Extras | 5.0 ★★★★★ |
| Overall Finder score | 4.0 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges, annual card fee plus 1% of the outstanding balance. |
| Annual/monthly fees | Year 1 - £0, Year 2 onwards - £28 per annum |
| Foreign usage charge (EU) | 2.95% |
| Foreign usage charge (rest of world) | 2.95% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £5 |
| Exceeding limit fee | £12 |
| Additional card fee | £28 |
| Dormancy fee | £0 |
The Clydesdale Bank 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.
Clydesdale customer reviews
Clydesdale scores poorly on reviews site Trustpilot, with 1.3 stars out of 5, giving it a “bad” rating (updated August 2023).
The comments focus on bad customer service experiences, high fees and poor functionality.
| Trustpilot | Apple App Store | Google Play |
|---|---|---|
|
★★★★★ 1.3 out of 5 |
★★★★★ 4.6 out of 5 |
★★★★★ 2.5 out of 5 |
How does it compare?
Clydesdale Bank's card
Other popular business cards
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 Clydesdale Bank's app by logging in to your online banking or over the phone (0800 032 3971). 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
If you've compared cards and settled on the Clydesdale Bank Business Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
If you’re thinking about getting a business credit card and Clydesdale isn’t for you, take a look at our business credit card comparison page.
Frequently asked questions
What credit limit will I get with the Clydesdale Bank Business Credit Card?
If Clydesdale Bank offers you this deal, it will specify a tailored credit limit based on Clydesdale Bank's assessment of your situation and your business. The minimum limit offered on this card is £500, and Clydesdale Bank does not specify a maximum. Once you've had the card for a while and shown Clydesdale Bank you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Clydesdale Bank 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 Clydesdale Bank 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 27.9% (chargeable from the day of the transaction – the card's usual "up to 59 days interest-free" grace period won't apply).
How much does it cost to use the Clydesdale Bank Business Credit Card abroad?
Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£171.45), it'll cost you around £5.06 in fees.
Can I get additional Clydesdale Bank Business Credit Cards for my team?
Yes. Clydesdale Bank doesn't specify a maximum number of cards you can request. Each card comes with an additional account fee of £28.
Finder credit card scores
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.
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