In this guide

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

RBS Business Plus Credit Card review

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Royal Bank of Scotland Business Plus Credit Card (existing customers only)
4.0
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 13.9% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).
Interest-free each billing period
Up to 56 days
Earn rate
1p per £1 spent
Foreign transaction charge
0%

Our verdict

RBS Business Bank Account holders can enjoy cashback on day-to-day spending and benefit from no foreign transaction fees on purchases abroad.

If you already use Royal Bank of Scotland (RBS) Business Banking (or are interested in switching), then this card could help your company manage an irregular cash flow while offering some appealing perks.

In return for a fee of £70 per annum (per cardholder), you'll enjoy 0% fees on non-sterling transactions, cashback on everything you buy (see table below) plus a well-below-average standard rate of 13.9%. So if you're currently paying more elsewhere, you could take advantage of the balance transfer facility (no 0% offers here, sadly) to save on the interest you're paying each month.
Provided you clear your balance in full each month, you'll benefit from up to 56 days of 0% interest on your purchases each billing cycle (this doesn't apply to cash advances). If you don't clear your balance in full – say if you only make the minimum required payment – you'll be charged interest on each transaction from the day on which it occurred.

All in all, this card is a nice option if you're planning to use it constantly, both in the UK and abroad. If you do, the cashback and the lack of foreign transaction fees will make the annual fee well worth it.

Pros

  • Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
  • Customers report excellent customer service when dealing with Royal Bank of Scotland
  • Avoid currency conversion charges when spending abroad
  • Earn cashback on day-to-day spending
  • A relatively low 13.9% interest rate on purchases

Cons

  • £70 annual account fee
  • Applicants with low credit scores are unlikely to be eligible

In this guide

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

Details

Product Overview

Issuer Royal Bank of Scotland
Network Mastercard
Annual/monthly fees £70 per annum
Balance transfers 13.9%
Purchases 13.9%
Purchases interest-free period Up to 56 days
Cash advances 13.9%
Minimum credit limit £500
Maximum credit limit Subject to status
Additional Rewards Info Free 'online account servicing' via ClearSpend mobile and desktop app.
Cashback details 0.5% after £1 of yearly spend. Maximum of £600 cashback paid per month. Cashback paid Monthly into Card Account. 3% cashback on eligible fuel and electric vehicle charging stations, 2% cashback on eligible trade and business supplies, 1% cashback on eligible travel and accommodation spend and 0.5% cashback on all other business spending. Max £600 per annum.
Potential costs 4.5 ★★★★★
Doing its job 3.5 ★★★★★
Extras 5.0 ★★★★★
Overall Finder score 4.0 ★★★★★

Fees and charges

Minimum monthly payment 3% or £5 (whichever is greater) or the balance if less; or that month's interest, any default charges, 1/12th of any annual fee and 3% of the remaining balance.
Annual/monthly fees £70 per annum
Foreign usage charge (EU) 0%
Foreign usage charge (rest of world) 0%
Cash advance fee 3% (min. £3)
Late payment fee £12
Exceeding limit fee £12
Additional card fee £70
Dormancy fee £0

The RBS Business Plus 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?

Royal Bank of Scotland's card

1 - 1 of 1
Name Product Finder score Purchases Annual / Monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
Royal Bank of Scotland Business Plus Credit Card (existing customers only)
4.0
★★★★★
13.9%
£70 per annum
0.5% cashback
29% APR (variable)
Card details
Representative example: When you spend £1,200 at a purchase rate of 13.9% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).
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Other popular business cards

Table: promoted then other popular deals
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
4.0
★★★★★
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).
Barclaycard Payments Select Cashback Business Credit Card
4.0
★★★★★
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)
4.0
★★★★★
35.15%
£99 per annum
1 point per £1 spent
35.15% 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 35.15% APR (variable). Optional upgrade to Business Rewards (£99 per year).
Barclaycard Select Charge Card
3.5
★★★★★
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.
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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 Royal Bank of Scotland's app by logging in to your online banking or over the phone (0345 307 0900). 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

Am I eligible?

Interested? Before going any further, check you meet the following requirements:

  • Your business will need to be registered in the UK and have an annual turnover below £6m.
  • You’ll need to already hold a business current account with RBS (in the same legal entity name).
  • You’ll need to be a director of the business, aged over 18 and resident in the UK and not have been declared bankrupt or received a county court judgement (CCJ) or Court Decree.

Applying for the RBS Business Plus Credit Card

If you’ve compared cards and want to apply, you can download an application form from the RBS site. You’ll then need to submit the form in one of the following ways:

  • Scan and email the form
  • Post the form to RBS
  • Drop the form in at a branch

To help speed up your application, it’s a good idea to have a few key details to hand. You’ll need your business address, trading address (and registered address if different), and company number if you have one. You’ll also be asked for financial information such as your business turnover, net profit before tax and bank details. Finally, RBS will need details of each business partner/owner, including their date of birth and their UK residential address history for the past three years.

If you want to transfer a balance, you’ll need to phone the RBS business team (0345 307 0900).

Frequently asked questions

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

If Royal Bank of Scotland offers you this deal, it will specify a tailored credit limit based on Royal Bank of Scotland's assessment of your situation and your business. The minimum limit offered on this card is £500, and Royal Bank of Scotland does not specify a maximum. Once you've had the card for a while and shown Royal Bank of Scotland you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the RBS Business Plus 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 RBS Business Plus 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 13.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

Can I get additional RBS Business Plus Credit Cards for my team?

Yes. Royal Bank of Scotland doesn't specify a maximum number of cards you can request. Each card comes with an additional account fee of £70. Plus, with additional cards, you could earn cashback at a faster rate.

Can I transfer a balance from another RBS group card?

No. Sadly, transfers from NatWest, RBS or Ulster Bank cards are off the table. As are transfers from any personal credit cards (regardless of which bank it’s held with).

Do I get interest-free days on non-sterling transactions?

Yes! That “up to 56” days applies to transactions at home and abroad. So if you make a purchase abroad on day one of your billing cycle, then pay it off your payment-due date, it will have benefitted from the full 56 days. It doesn’t apply to cash transactions, however (which includes withdrawing cash and buying foreign currency). Additionally, you’ll need to have paid off your full balance from the previous billing period and you’ll need to pay off your full balance at the end of the current billing period in order to benefit from this feature. Set-up a direct debit to always clear the full balance, and you won’t even have to think about it.

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.

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