Funding Circle Business charge card review 2022

Funding Circle is making its debut into the business credit card market with its brand new charge card. Here’s what we know so far.

If approved, you could earn cashback on all your business expenses with interest-free credit, as long as you repay your debts in full and on time.

  • Earn 1% cashback on all business spend.
  • Very little details about the card prior to launch.
No reviews yet. Write a review

£0

Account fee

Details

Annual/monthly fees£0
PurchasesN/A (this product is a charge card).
Maximum credit limitNot specified
Incentive
1% cashback on business purchases

Review by


Emily Herring is a Publishing Executive at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media.

Expert review

From what we know so far, the Funding Circle charge card looks like it could be a strong contender, if executed correctly. Offering cashback and fee free spending, the business card could become an asset for SMEs looking to manage their business expenditure.

However, unless you repay your balance in full and on time, you could be charged with a hefty 3% flat fee. And, as the details on this card are being kept a closely guarded secret, we can only comment on what we know. So when is this new charge card joining the market? You will have to join the waiting list and wait for Funding Circle to release some more info.

Juni Business Card

Juni Business Card

  • Cashback on all spend
  • Custom or unlimited daily spend limits
  • Keep track of ad spend
Promoted

Pros and cons

Pros

  • Earn cashback on all business purchases.
  • No interest charged on credit paid on time and in full and on time.
  • No annual or set up fees.
  • Flexible repayments. Spread your balance over 3 equal monthly instalments for a flat 3% fee.
  • Manage and track all your business expenses in one place.

Cons

  • 3% interest if you choose to repay your card using the instalment option.
  • Little details about the card, including launch date.

Who is Funding Circle?

Co-founded in 2010 by James Meekings, Andrew Mullinger and Desai, Funding Circle is a well-known global business loans provider.

Historically, Funding Circle was one of the largest peer-to-peer (P2P) business loans providers. However, earlier this year the P2P lender announced that it will be dismissing this service after a 2 year hiatus during the pandemic.

It now looks like this lending giant is branching out into the world of business cards, with its new charge card and “FlexiPay” line of credit, due to launch at the end of 2022.

What is the Funding Circle Business Charge Card?

Although the details are yet to be shared, the Funding Circle Business charge card will allow SMEs one month of “free credit”, as long as you settle the balance in full and on time each month, whilst earning 1% cashback on business card spend. The card comes with no annual or set up fees and 3% interest if you opt to repay your debts in 3 equal monthly instalments.

How does the Funding Circle Business Charge Card work?

If your application is successful, you will receive a line of credit subject to status. Each month, you will be able to spend up to your set credit limit without paying any interest (as long as you repay your debts in full and on time).

However, if your business feels as if it needs an extra helping hand, although not advised, there is an option to repay the card in 3 equal monthly payments at a fixed rate of 3%.

It is yet to be determined if choosing the option to repay in monthly installments will have an impact on your ability to earn cashback. But, Funding Circle has stated that every time you use your card on business expenses, you will receive 1% cashback.

How to apply

You can register your interest in the Funding Circle charge card and join the waiting list straight through the Funding Circle website.

To join the waiting list, you will need to provide:

  • An email
  • Business name
  • Company type
  • Company turnover

The application process will only take a few minutes and you will be notified once the charge card has launched and you can apply.

How does this card compare with other charge cards on the market?

How does it compare?

Funding Circle's card

1 - 1 of 1
Name Product Purchases Annual/monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
CASHBACK
Funding Circle Business charge card
N/A (this product is a charge card).
£0
1 point per £1 spent
N/A (this product is a charge card).
1% cashback on business purchases and up to 1 month fee-free credit if you settle the balance in full and on time. Terms apply.
loading

Compare up to 4 providers

Other popular business cards

Table: promoted then other popular deals
Name Product Purchases Annual/monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
CASHBACK
Capital on Tap Business Credit Card
26.4%
£0
1 point per £1 spent
29.9% APR (variable)
Go to site
Earn 1% cashback for every £1 spent. Upgrade to Capital on Tap Business Rewards Card for £99 pa to choose between earning cashback or Avios and receive 10,000 bonus points when you spend £5,000 on your card in your first 3 months.
Representative example: When you spend £1,200 at a purchase rate of 26.4% (variable) p.a., your representative rate is 29.9% APR (variable).
CASHBACK
Barclaycard Select Cashback Business Credit Card Mastercard
21.9%
£0
1% cashback
21.9% APR (variable)
Go to site
Limited time offer: Get 3% cashback on business travel spend for the first 4 months and 1% cashback on all other business spend. Apply before 31/08/2022. Cashback and Promotional Cashback T&Cs and eligibility criteria apply.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
CASHBACK
Capital on Tap Business Rewards Credit Card
26.4%
£99 p.a.
1 point per £1 spent
29.9% APR (variable)
Go to site
Earn 1 point for every £1 spent. 1 points can be redeemed for either 1 Avios or 1p in cashback. 10,000 bonus points when £5,000 spent in first 3 months.
Representative example: When you spend £1,200 at a purchase rate of 26.4% (variable) p.a., your representative rate is 29.9% APR (variable).
NatWest Business Credit Card (only available to existing business customers)
16.9%
Year 1 - £0, Year 2 onwards - £30 per annum
N/A
24.3% APR (variable)
Go to site
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 - £30 per annum, your representative rate is 24.3% APR (variable).
loading

Compare up to 4 providers

Approval for any credit card will depend 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.

Frequently asked questions

Finder credit card ratings

★★★★★ — 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.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site