NatWest Business Credit Card Review January 2020

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For NatWest Business Banking customers with a turnover up to £2m, this straightforward business credit card offers a competitive ongoing (albeit variable) rate and a free app for real-time monitoring and control.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 18.268% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £30 per annum, your representative rate is 24.3% APR (variable).

0%

Balance transfer fee

24.3%

Representative APR

Up to 56 days

Interest-free each billing period

Details

IssuerNatWest
NetworkMastercard
Annual/monthly feesYear 1 - £0, Year 2 onwards - £30 per annum
Balance transfers18.268%
Balance transfer fee0%
Purchases18.268%
Purchases interest-free periodUp to 56 days
Cash advances18.268%
Min. credit limit£500
Max credit limitNot specified
IncentiveFree 'online account servicing'.

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

If you already use NatWest Business Banking, then you might opt to apply for this no-frills card to help manage a fluctuating cash flow. Provided you clear your balance in full each month, you’ll be able to take advantage of up to 56 days of 0% interest on your purchases each billing cycle, though this doesn’t apply to cash advances (withdrawing cash from the card).

So aside from the annual fee, which is waived in the first year for NatWest Startup Bank Account holders, if it’s used carefully, this card doesn’t have to cost your company a penny.

Unlike many other business cards, including NatWest’s own Business Plus card, there’s not a lot in the way of perks so you won’t find airport lounge access or the opportunity to earn cashback.

The card’s strongest feature might be its well-below-average standard rate of 18.268%, so if you’re currently paying more elsewhere, you could take advantage of the balance transfer facility (no 0% offers here, sadly) to save on the interest you’re paying each month.

NatWest Business Credit Cards use 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 23rd, 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).

Compare up to 4 providers

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 711 44 77), 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 NatWest Business Credit Card

If you’ve compared cards and want to apply, you can download an application form from the NatWest site. You’ll then need to submit the form in one of the following ways:

  • Scan and email the form
  • Post the form to NatWest
  • Drop the form in at a branch

To help speed up your application, it’s a good idea to have a few key details at hand. You’ll need your business address, trading address (and registered address if different) and company number if you have one. You’ll also be asked for financial information such as your business turnover, net profit before tax and bank details. Finally, NatWest will need details of each business partner/owner, including their date of birth and three years’ UK residential address history.

If you want to transfer a balance, you’ll need to phone the NatWest business team (0345 711 44 77).

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