Metro Bank Business Credit Card review 2020

Last updated:  

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).

Up to 56 days

Interest-free each billing period

14.9%

Representative APR

0%

Balance transfer fee

£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
Additional cards available25

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.

The Metro 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.

Pros and cons

Pros

  • 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
  • No annual fee
  • A relatively low 14.9% interest rate on purchases

Cons

  • Applicants with low credit scores are unlikely to be eligible

How does it compare with other business cards?

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Purchases Annual/monthly fees Rewards earn rate Rep. APR Link Incentive Representative example
Amazon Business American Express Card
21.9%
£50 per annum
1.5 points per £1 spent with selected partners
1 point per £2 spent elsewhere
32.6% (variable)
Go to site
More Info
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).
Amazon Business Prime American Express Card
21.9%
Year 1 - £0, Year 2 onwards - £50 per annum
2 points per £1 spent with selected partners
1 point per £2 spent elsewhere
32.6% (variable)
Go to site
More Info
Earn 2% 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 90 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 Year 1 - £0, Year 2 onwards - £50 per annum, your representative rate is 32.6% APR (variable).
Capital on Tap Business Credit Card
39.41%
£0
N/A
39.9% (variable)
Go to site
More Info
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 39.41% (variable) p.a., your representative rate is 39.9% APR (variable).
Capital on Tap Business Rewards Credit Card
39.41%
£99 p.a.
1 point per £1 spent
39.9% (variable)
Go to site
More Info
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 39.41% (variable) p.a., your representative rate is 39.9% APR (variable).
British Airways American Express Accelerating Business Card
22.2%
£210 per annum
1.5 points per £1 spent
80.3% (variable)
Go to site
More Info
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 22.2% (variable) p.a. with a fee of £210 per annum, your representative rate is 80.3% APR (variable).
American Express Gold Business Card
N/A (this product is a charge card).
Year 1 - £0, Year 2 onwards - £125
1 point per £1 spent
N/A (this product is a charge card).
Go to site
More Info
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.
1 point per £1 spent
N/A (this product is a charge card).
Go to site
More Info
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.
Metro Bank Business Credit Card Mastercard
14.9%
£0
N/A
14.9% (variable)
More Info
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).
loading

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents 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 Metro Bank's app, by logging in to your online banking or over the phone (0345 08 08 508). 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 (although there's no penalty fee for late payments to worry about, there are still plenty of other good reasons not to miss a payment).

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

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.

The verdict

With no annual fee and a universal rate on purchases, cash advances and balance transfers, the Metro Bank Business credit card is a straightforward, no-frills card that can help keep you manage your cash flow while keeping your costs low. With no fees on non-sterling transactions in Europe and no charge for additional cards, it could also benefit businesses that trade abroad or looking to manage expenses for multiple employees.

But the trade off for no annual fee and low rates is a relative dearth of other features, such as a rewards or cashback scheme, and those looking to get more than simple spending out of their business credit card may want to look elsewhere.

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