Lloyds Bank Business Credit Card review 2021

For Lloyds Business customers looking to even out their cash flow, this straightforward credit card comes with a competitive (albeit variable) interest rate and a mobile app to manage your business's spending on the go.

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Representative example: When you spend £1,200 at a purchase rate of 17.57% (variable) p.a. with a fee of £32 per annum, your representative rate is 22.4% APR (variable).

Up to 45 days

Interest-free each billing period


Representative APR


Yearly account fee


Minimum credit limit


IssuerLloyds Bank
Annual/monthly fees£32 per annum
Purchases interest-free periodUp to 45 days
Cash advances17.57%
Min credit limit£1,000
Max credit limitSubject to status: £10,000
Additional cards available20

Review by

Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

With a lower-than-average 17.57% standard purchases rate, Lloyds Bank Business Credit Card can help small and medium enterprises who struggle with irregular invoice payments to smooth over the day-to-day running of their business.

Provided you pay off your balance in full every month, you can enjoy up to 45 days interest-free each billing cycle (although this doesn’t apply to cash withdrawals).

Lloyds can issue up to 20 cards for the same business, and you can set personalised spending limits on each of them to control your business’s expenses more easily. Just keep in mind that each new card will come with its own annual fee – which unfortunately Lloyds, unlike some other card issuers, doesn’t scrap for the first year.

The Lloyds Bank Business Credit Card sadly doesn’t offer any extra rewards or perks, so it gives you no cashback on purchases or theatre tickets discounts. However, the low interest rate combined with an average annual fee makes it a reasonable choice to give your business’s finances a little extra breathing space.

The Lloyds Bank Business Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.

American Express Gold Business Card

American Express® Business Gold Card

  • 20,000 bonus Membership Rewards® points if you spend £3,000 in the first 3 months
  • Earn 1 Membership Rewards point for every £1 spent, plus earn an extra 10,000 points when you spend £20,000 every quarter
  • Over £600 off at essential business retailers
  • No annual fee in the first year*
*Terms apply. Annual fee £175 (£0 first year)

Pros and cons


  • Up to 45 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 Lloyds Bank
  • A relatively low 17.57% interest rate on purchases


  • £32 annual account fee
  • Applicants with low credit scores are unlikely to be eligible
  • Each additional card incurs a fee (£32)

How does it compare?

Lloyds Bank's card

Name Product Purchases Annual/monthly fees Rewards earn rate Representative APR Link Key benefit Representative example
Lloyds Bank Business Credit Card Mastercard
£32 per annum
22.4% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 17.57% (variable) p.a. with a fee of £32 per annum, your representative rate is 22.4% APR (variable).

Compare up to 4 providers

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Representative example: When you spend £1,200 at a purchase rate of 39.41% (variable) p.a., your representative rate is 39.9% APR (variable).
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Earn 1.5% Amazon Rewards on the first £120,000 in purchases each calendar year, 1% thereafter at Amazon.co.uk, Amazon Business UK and Whole Foods Market UK, or 60 day extended payment terms on such purchases. Earn 0.5% Amazon Rewards on all other purchases.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £50 per annum, your representative rate is 32.6% APR (variable).
Barclaycard Business Select Cashback Credit Card
1% cashback
21.9% APR (variable)
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Earn 1% cashback on eligible spend. T&Cs 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).

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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.

Repayment options

You can make manual repayments through Lloyds Bank's app, by logging in to your online banking or over the phone (0345 072 5555). 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

Eligibility criteria to apply for a Lloyds Bank Business Credit Card include being resident in the UK and a sole trader, partner or director of your business.

Moreover, the Lloyds Bank Business Credit Card is only available to Lloyds business customers, so if that isn't you, but you've looked at credit cards and decided that the Lloyds Bank Business Credit Card is the one for you, you'll have to go through the process of getting yourself a Lloyds business current account first.

Once that's out of the way, you can either apply online or give Lloyds a call. The online form should take around 10 minutes to fill in.

You should be prepared to give detailed information about your business – among other things, it's a good idea to have your business address, bank details and annual turnover at hand. You'll also need the details of the cardholders, such as their date of birth, mother's maiden name, contact number and three years of address history.

If you've held a Lloyds business account for less than four months, you may be asked for extra documents, such as copies of old bank statements.

Frequently asked questions

What credit limit will I get with the Lloyds Bank Business Credit Card?

If Lloyds Bank is able to offer you this deal, the offer will specify a tailored credit limit based on Lloyds Bank's assessment of your situation and your business. The minimum limit offered on the card is £1,000, while the maximum is £10,000. Once you've had the card for a while and shown Lloyds Bank that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Lloyds 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 Lloyds Bank Business Credit Card is 2.5% (min. £2.5). For example, if you withdraw £50, you'll incur a fee of £2.50. Withdraw £250, and you'll incur a fee of £6.25.

The interest rate on this part of your balance will be 17.57% (chargeable from the day of the transaction – the card's usual "up to 45 days interest-free" grace period won't apply).

How much does it cost to use the Lloyds Bank Business Credit Card abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£171.16), it'll cost you around £5.05.

Can I get additional Lloyds Bank Business Credit Cards for my team?

Yes, you can request up to 20 more. Each card comes with an additional account fee of £32.

Finder credit card ratings

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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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