NatWest Business Credit Card review 2021

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.

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Representative example: When you spend £1,200 at a purchase rate of 16.9% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £30 per annum, your representative rate is 24.3% APR (variable).

Up to 56 days

Interest-free each billing period

24.3%

Representative APR

0%

Balance transfer fee

£500

Minimum credit limit

Details

IssuerNatWest
NetworkMastercard
Annual/monthly feesYear 1 - £0, Year 2 onwards - £30 per annum
Balance transfers16.9%
Balance transfer fee0%
Purchases16.9%
Purchases interest-free periodUp to 56 days
Cash advances16.9%
Min credit limit£500
Max credit limitNot specified
IncentiveFree 'online account servicing' via ClearSpend mobile and desktop app.

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 16.9%, 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.

The NatWest 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

  • Up to 56 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 NatWest
  • A relatively low 16.9% interest rate on purchases

Cons

  • Annual fee
  • Applicants with low credit scores are unlikely to be eligible

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 NatWest's app, by logging in to your online banking or over the phone (0345 711 44 77). 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

If you've compared cards and settled on the NatWest Business Credit Card, you can head over to NatWest's secure online application to apply. Don't forget, you'll need to be over 18 and a UK resident to apply.

Frequently asked questions

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

If NatWest is able to offer you this deal, the offer will specify a tailored credit limit based on NatWest's assessment of your situation and your business. The minimum limit offered on this card is £500 and NatWest does not specify a maximum. Once you've had the card for a while and shown NatWest that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the NatWest 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 NatWest Business Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250, and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 16.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

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

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£168.62), it'll cost you around £4.97 in fees.

Can I get additional NatWest Business Credit Cards for my team?

Yes. NatWest doesn't specify a maximum number of cards you can request. Each card comes with an additional account fee of £30.

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You can read more about our scoring criteria on our credit card methodology page.

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