Metro Bank Business Credit Card review January 2020

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Existing Metro Bank business customers can benefit from a single low interest rate of 14.9%, and fee-free transactions across Europe.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a., your representative rate is 14.9% APR (variable).

0%

Balance transfer fee

14.9%

Representative APR

£0

Account fee

Details

IssuerMetro Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers14.9%
Balance transfer fee0%
Purchases14.9%
Purchases interest-free periodUp to 56 days
Cash advances14.9%
Min. credit limit£500
Max credit limitNot specified

Expert review

Chris Lilly

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

The “challenger bank” Metro Bank does things a little differently – with an emphasis on high street “stores” which open seven days a week. Its business credit card is refreshingly straightforward with no annual fee, no introductory promotional rates and a single interest rate for transactions across the board. If you’re on the hunt for rewards and perks, it’s probably not the card for you – you won’t find airport lounge access or the opportunity to earn cashback, for example.

But, provided your business currently banks with Metro Bank (or you’re interested in switching), this card could help manage a fluctuating cash flow. If you pay your balance in full and on time each month, you’ll benefit from up to 56 days of 0% interest on purchases. In other words, a purchase made right at the start of your billing cycle could remain interest-free until you pay your bill, which could be as much as 56 days later. This is true of almost all credit cards on the UK market.

If you don’t clear your balance in full, for example if you only make the minimum required payment, you’ll be charged interest on each transaction from the day on which it occurred. Likewise, cash advances (that’s when you withdraw cash using your credit card) will always start to accrue interest straightaway.

Businesses with frequent travel or overseas trade will benefit from 0% fees on non-sterling transactions within Europe (plus there’s no charge for additional cards – so all your nominated cardholders can benefit from this). Currencies will be converted to sterling at the standard Mastercard rates.

Metro Bank business credit cards are issued on the Mastercard network, so they can be used at more than 35 million merchants and ATMs worldwide.

How does this deal compare?

Table: sorted by interest rate on purchases.
Updated January 26th, 2020
Name Product Purchases Annual/monthly fees Rep. APR Incentive Representative example
British Airways American Express Accelerating Business Card
22.9%
£210 per annum
81.6% (variable)
Earn 1.5 On Business Points for every £1 spent with BA on eligible flights and 1.5 Avios for every eligible £1 spent on credit card. Earn an extra 3,000 On Business Points annually when £20K or more spent by card anniversary.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a. with a fee of £210 per annum, your representative rate is 81.6% APR (variable).
Capital on Tap Business Credit Card
39.9
£0
39.9% (variable)
Upgrade to Capital on Tap Business Rewards Card for £99 pa to earn 1 point for every £1 spent. 1 point can be redeemed for either 1 Avios or 1p in cashback. 10,000 bonus points when £5,000 spent in first 3 months. Up to 20 free supplementary cards available.
Representative example: When you spend £1,200 at a purchase rate of 39.9% (variable) p.a., your representative rate is 39.9% APR (variable).
Capital on Tap Business Rewards Card
39.9%
£99 p.a.
39.9% (variable)
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. Up to 20 free supplementary cards available.
Representative example: When you spend £1,200 at a purchase rate of 39.9% (variable) p.a., your representative rate is 39.9% APR (variable).
American Express Gold Business Card
N/A (this product is a charge card).
£125 (£0 in first year)
N/A (this product is a charge card).
Earn 20,000 bonus Membership Rewards® points when you spend £3,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
American Express Platinum Business Card
N/A (this product is a charge card).
£595 p.a.
N/A (this product is a charge card).
Earn 40,000 bonus Membership Rewards® points when you spend £6,000 in first 3 months of Card membership. Earn 1 Membership Rewards® point for every £1 spent thereafter.
Barclaycard Business Flex Credit Card Mastercard
0% for 3 months reverting to 24.9%
£0
24.9% (variable)
Business Rewards - giving a range of discounts and rebates (up to 66% off AA membership, save 20% on B2B marketing sites and access to 99 UK business credit reports for £75, 5% Avis rebate, 15% off Ryman's stationary, up to 15% off with APH, £60 driving credit and first year membership free with Zipcar, first year of FSB registration free, 20% off bPay by Barclaycard device, up to 15% off ecommerce website with cloudBuy, 5% rebate on online advertising spend with Bing, 10% off selected hotel reservations for business trips with booking.com, 4% rebate at over 5,000 hotels and 10,000 restaurants and 1% rebate at petrol stations at selected locations with the USA and Canada with Mastercard, 3% off business flights with flybmi and 25% off first £200 spend at Amazon Business).
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Toolstation Trade Card Mastercard
0% for 3 months reverting to 24.9%
£0
24.9% (variable)
Apply for a card and spend on it between 11.11.19 and 31.3.20 and receive one prize draw entry to win 1 of 3 van wraps, maximum 10 entries.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Travis Perkins Trade Credit Card Mastercard
0% for 3 months reverting to 24.9%
£0
24.9% (variable)
0% for 60 days on purchases made at Travis Perkins and participating group companies.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Barclaycard Business Premium Plus Credit Card Mastercard
0% for 6 months reverting to 14.9%
£100 per annum
36.2% (variable)
0.5% after £1 of yearly spend. Maximum of £400 cashback paid per year. Cashback paid Anniversary into Card Account. If less than £10 Cashback earned in any Cashback Year, it will not be credited to the account and will not be carried forward to the following year.
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a. with a fee of £100 per annum, your representative rate is 36.2% APR (variable).
Barclaycard Business Select Credit Card Mastercard
0% for 6 months reverting to 19.9%
Year 1 - £0, Year 2 onwards - £32 per annum
26.4% (variable)
Business Rewards - giving a range of discounts and rebates (up to 66% off AA membership, save 20% on B2B marketing sites and access to 99 UK business credit reports for £75, 5% Avis rebate, 15% off Ryman's stationary, up to 15% off with APH, £60 driving credit and first year membership free with Zipcar, first year of FSB registration free, 20% off bPay by Barclaycard device, up to 15% off ecommerce website with cloudBuy, 5% rebate on online advertising spend with Bing, 10% off selected hotel reservations for business trips with booking.com, 4% rebate at over 5,000 hotels and 10,000 restaurants and 1% rebate at petrol stations at selected locations with the USA and Canada with Mastercard, 3% off business flights with flybmi and 25% off first £200 spend at Amazon Business).
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £32 per annum, your representative rate is 26.4% APR (variable).

Compare up to 4 providers

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 08 08 508), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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 for the Metro Bank Business Credit Card

Frustratingly, to apply for this card, you’ll need to head into a branch and speak to your “Local Business Manager”. On the plus side, you don’t usually need an appointment, and Metro Bank can issue cards in-store, so if all goes well you could walk out with your new card ready to go.

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