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Jeeves Corporate Card review

Jeeves has brought a new corporate charge card (not credit card) to the market, designed with business startups in mind.

  • Earn cashback on all card spend.
  • Jeeves is not regulated by the Financial Conduct Authority (FCA).
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0%

Foreign transaction charge

£0

Account fee

£1,000

Minimum credit limit

Details

NetworkVisa
Annual/monthly fees£0
Balance transfers0%
PurchasesN/A (this product is a charge card).
Cash advances0%
Maximum credit limitNot specified
Additional cards availableRequest additional physical cards and up to 100 virtual cards without a cost
Incentive
Enjoy 1–2% cashback on all card spend and 3% cashback on all Facebook, Google, and AWS spend. Eligible customers can earn up to 4% cashback on all card spend with the Jeeves card. Terms apply.

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

The Jeeves Corporate Card seems to be an all-singing, all-dancing charge card (not credit card) when it comes to managing your business expenses, as long as you repay your debt each month. The appealing no fees and generous cashback offer on all card spend certainly seems to turn heads, but just like us, you’re probably thinking what’s the catch, right?

As a new entrant to the market, Jeeves is going up against some mammoth firms like American Express and Barclaycard, who also offer eye-popping benefits. But as a card aimed at startups and SMEs, Jeeves offers a more forgiving eligibility criteria than some of these traditional providers.

From our research, the Jeeves Corporate Card would be more suited towards UK businesses that operate globally and need to manage multiple currencies, especially with its lack of FX charges and the opportunity to trade in a currency of your choice.

As a new contender to the UK credit market, it has a limited track record and so far has received questionable customer reviews on sites like Trustpilot. So, if you’re concerned about using contemporary brands, it could be safer to go with a more established provider. It is always recommended to do your own research and fully understand what you’re applying for before you commit as it could affect your credit score. Compare business cards here.

Capital on Tap Business Credit Card

Capital on Tap Business Credit Card

  • Get up to £150,000 in minutes to grow your business.
  • Earn 1% cashback for every £1 spent.
  • Enjoy up to 56 days interest-free on purchases if you pay off your balance in full each month.
  • No application fees or non-sterling transaction fees.

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).

Promoted

Pros and cons

Pros

  • Earn cashback on all card spend.
  • Avoid currency conversion charges when spending abroad.
  • Run credit card and non-card payments directly within the app.
  • Request additional physical cards and up to 100 virtual cards without a cost.
  • £250 referral bonus for every successful referral.
  • No annual fee.

Cons

  • As the Jeeves corporate card is a charge card, you are expected to repay the card in full each month, otherwise you could face a fee.
  • Jeeves has a lack of transparency when it comes to late repayments.
  • Your business must be registered as a private limited company and generate at least £10,000 of revenue per month.
  • Jeeves is not regulated by the FCA and the financial ombudsman cannot assist in any issues that may arise.

Who is Jeeves?

Jeeves is an expense management platform aiming to help SMEs scale their businesses. It participated in Y Combinator’s infamous startup accelerator and has launched in multiple regions, supporting startups in Mexico, Canada, Colombia, Chile and Europe.

Founded by Dileep Thazhmon and Sherwin Gandhi in 2019, Jeeves aims to “empower businesses globally by providing a modern approach to financial services”.

What is the Jeeves Corporate Card and how does it work?

The Jeeves Corporate Card is a virtual (and physical) charge card that is tailored to global startups. As a charge card, Jeeves will offer you a maximum credit limit (which is determined by your business’s status) and you will have access to spend anywhere with no additional fees or FX charges attached – as long as you repay the full cost each month.

If you are considering applying for a business charge card and want to find out more about them, read our helpful guide.

Features

  • Cashback on all card spend. An appealing perk of the Jeeves charge card is that you have the opportunity to earn cashback every time you spend. Jeeves is offering 1% cashback on all spend up to £20,000 and 2% on all spend above £20,000, but there is a catch. To receive the 2% cashback, you will need to spend above the £20,000 threshold in the same calendar month. If your business uses Facebook, Google or Amazon (including AWS), Jeeves also offers a flat 3% cashback on payments made to them. And finally, if your business is lucky enough to be eligible, you can enjoy 4% cashback on all card spend (terms apply).
  • Referral bonus Jeeves offers a £250 referral bonus for every successful referral. The bonus will be credited to you and your referral.
  • Physical and virtual cards. You can request additional physical cards and up to 100 virtual cards at no extra cost.
  • Your choice of currency. Jeeves allows you to repay your spend in the currency of your choice with no FX charges.
  • Credit limits. Jeeves offers a minimum credit limit of £1,000 and does not specify a maximum credit limit. Subject to your business’s status, you could benefit from higher credit limits as your business grows. You also have the option to set custom credit limits for individual employees.
  • Expense management platform. Manage expenses, make payments and track your cashback rewards in an all-in-one app. Jeeves states that its app can also be integrated with major accounting software such as Xero and Quickbooks.
  • Quick sign-up process. Jeeves promises a quick sign-up process that should take you no longer than “15 minutes” and only requires “minimal documentation”.

Customer reviews

As a new entrant to the business credit card market, Jeeves has received few and mixed reviews from customers, according to customer review sites like Trustpilot.

It currently has a Trustpilot rating of 3.1 out of 5, based on 5 reviews (updated 2 March 2022). Although still a new card, those Jeeves customers who rated the card 1 out of 5 have raised their concerns about the legitimacy of the company and lack of transparency that Jeeves offers. However, this is only based on 5 reviews and as it is still a very new product, more detailed reviews are likely to come in the next few months.

Verdict

With its promise of no fees and 1-4% cashback on all card spend, the Jeeves Corporate Card offers some appealing benefits to new startups looking to focus on their business growth instead of worrying about expenses. As long as you repay your debts in full each month, the Jeeves Corporate Card could be a cheaper and modern alternative to business cards compared to traditional high street banks, especially as Jeeves focuses on SMEs and startups. But, like all decisions, it is good to be fully informed and have a detailed comparison of all the products on the market. If you are looking for a charge card for its benefits and flexible spending, compare what’s on the market here.

Repayment options

As the Jeeves Corporate Card is a charge card, you are expected to repay the full amount each month. You can make repayments through your Jeeves expense management platform. 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 or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the card.

Jeeves does not charge interest if you pay the balance in full by each payment due date. But be careful, even though Jeeves does not specify any late repayment fees, your business could receive a penalty that may impact your credit score if you carry over a balance. If you miss a payment and are unable to pay, you should contact Jeeves as soon as possible.

How to apply

You can apply for the Jeeves Corporate Card directly through the Jeeves website. Simply fill out the form and the team will be in touch with you shortly. Your information will not be shared with any third parties.

How does it compare?

Jeeves's card

1 - 1 of 1
Name Product Purchases Annual/monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
Finder Award
CASHBACK
Jeeves Business card
N/A (this product is a charge card).
£0
N/A
N/A (this product is a charge card).
1–2% cashback on all card spend and 3% cashback on all Facebook, Google, and AWS spend. Eligible customers can earn up to 4% cashback on all card spend with the Jeeves card. Terms apply.
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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.

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