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.
£0
Account fee
Details
Annual/monthly fees | £0 |
---|---|
Purchases | N/A (this product is a charge card). |
Maximum credit limit | Not specified |
Incentive | 1% cashback on business purchases |

Review by
Emily Herring
emily.herring@finder.comEmily 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.
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
Other popular business cards
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
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.