The Natwest Business Credit Card offers a competitive ongoing (albeit variable) rate and a free app to monitor and control your business cash flow in real time.
NatWest Business Credit Card review
- 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).
- Interest-free each billing period
- Up to 56 days
- Minimum credit limit
- £500
Our verdict
A straightforward business credit card for NatWest Business Banking customers with turnover under £2 million.The NatWest Business Credit Card is a no-frills choice for small businesses or sole traders who already have a business current account with Natwest.
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 consider taking advantage of the balance transfer facility. There’s no 0% balance transfer period, though, sadly.
However, 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 purchases each billing cycle: helpful if you need to manage business expenses around fluctuating cash flow. Use the card carefully, stay within the spend limits and it won’t cost you a penny…except for the annual fee, which in any case is waived in the first year for NatWest Startup Bank Account holders, and waived annually if you spend £6000 or more per year.
Unlike many other business cards, including NatWest's own Business Plus card, there's not a lot in the way of perks, so it’s not the card for you if you were hoping to enjoy airport lounge access or the opportunity to earn cashback.
Bear in mind that the 0% period on purchases doesn’t apply to cash advances (withdrawing cash from the card).
Overall, it might not be the most exciting card on the market, but if you already have a Natwest Business bank account and you want to apply for a business credit card to help manage your cashflow, this is a decent option.
Pros
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Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
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Customers report excellent customer service when dealing with NatWest
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A relatively low 16.9% interest rate on purchases
Cons
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Only available to existing NatWest business customers
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Applicants with low credit scores are unlikely to be eligible
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Year 1 - £0, Year 2 onwards - £30 per annum. The annual fee is waived if you spend £6,000 or more per year
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£30 additional card fee
Details
Product overview
| Issuer | NatWest |
| Network | Mastercard |
| Annual/monthly fees | Year 1 - £0, Year 2 onwards - £30 per annum |
| Balance transfers | 16.9% |
| Purchases | 16.9% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 16.9% |
| Minimum credit limit | £500 |
| Maximum credit limit | Subject to status |
| Additional Rewards Info | Free 'online account servicing' via ClearSpend mobile and desktop app. 1% cashback on spend at eligible fuel and electric vehicle charging stations. |
| Potential costs | 4.0 ★★★★★ |
| Doing its job | 3.5 ★★★★★ |
| Extras | 5.0 ★★★★★ |
| Overall Finder score | 4.0 ★★★★★ |
Fees and charges
| Minimum monthly payment | 3% or £5 (whichever is greater) or the balance if less; or that month's interest, any default charges, 1/12th of any annual fee and 3% of the remaining balance. |
| Annual/monthly fees | Year 1 - £0, Year 2 onwards - £30 per annum |
| Foreign usage charge (EU) | 2.95% |
| Foreign usage charge (rest of world) | 2.95% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Exceeding limit fee | £12 |
| Additional card fee | £30 |
| Dormancy fee | £0 |
The NatWest Business Credit Card (only available to existing business customers) is issued on the Mastercard network so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
How does it compare?
NatWest's card
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Other popular business cards
Table: promoted then other popular deals
Approval for any credit card depends 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. Most of the data in Finder's comparison tables is provided by Moneyfacts.
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 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
Customer reviews
Online reviews rate Natwest Bank as a whole as “Bad”, with 1.4 out of 5 stars on Trustpilot based on over 4,000 reviews. Many negative reviews cite difficulties getting in touch over the phone, and similar communication problems, although the more positive reviews praise customer service from individual advisers, particularly in branch.
The bottom line: is the Natwest Business Credit Card any good?
It’s not flashy, but it’s perfectly fine. Come for the decent standard rate and fee-free first year, stay for the 0% interest period on purchases, go elsewhere (ie a business rewards card) if you’re hoping for perks and extras.
If all you need is something to help you manage your business spend, this could be a good option for you. Use it carefully, clear your balance in full each month and use the card to spend £6000 or more per year, it doesn’t have to cost you a thing.
Frequently asked questions
What credit limit will I get with the NatWest Business Credit Card?
If NatWest offers you this deal, it 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 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 (£171.53), it'll cost you around £5.06 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.
Finder credit card scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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.
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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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