NatWest Business Plus Credit Card review 2020

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Existing Business Bank Account customers can earn cashback on day-to-day spending and benefit from no foreign transaction fees.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 14.816% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).

Up to 56 days

Interest-free each billing period

Earn 1p

per £2 spent

29%

Representative APR

0%

Balance transfer fee

Details

IssuerNatWest
NetworkMastercard
Annual/monthly fees£70 per annum
Balance transfers14.816%
Balance transfer fee0%
Purchases14.816%
Purchases interest-free periodUp to 56 days
Cash advances14.816%
Min credit limit£500
Max credit limitNot specified
Incentive0.5% after £1 of yearly spend. Maximum of £400 cashback paid per month. Cashback paid Monthly into Card Account. 2% cashback on eligible trade and business supplies, 1% cashback on eligible fuel and hotel accommodation and 0.5% cashback on all other business spending. Max £400 per annum.
Cashback details0.5% after £1 of yearly spend. Maximum of £400 cashback paid per month. Cashback paid Monthly into Card Account. 2% cashback on eligible trade and business supplies, 1% cashback on eligible fuel and hotel accommodation and 0.5% cashback on all other business spending. Max £400 per annum.

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 a £70 per annum might be a small sum to pay in return for the significant perks this card has to offer. Just bear in mind that that fee is per cardholder however.

In return for that £70 per annum fee, you’ll enjoy 0% fees on non-sterling transactions, 0.5% cashback on everything you buy plus a well-below-average standard rate of 14.816%. So if you’re currently paying more elsewhere, you could take advantage of the fee-free balance transfer facility (no 0%-interest offers here, sadly) to save on the interest you’re paying each month.

As with almost all credit cards, provided you clear your balance in full each month, you’ll benefit from up to 56 days of 0% interest on your purchases each billing cycle (this doesn’t apply to cash advances). If you don’t clear your balance in full – say if you only make the minimum required payment – you’ll be charged interest on each transaction from the day on which it occurred.

All-in-all, this is a respectable and versatile option, and NatWest’s new “ClearSpend” app makes for a straightforward and pleasant way to track your spending in real time. For the hardcore perk-seekers out there, a few other business cards on the market (from the likes of American Express or Capital on Tap) can offer a little more excitement.

The NatWest Business Plus 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)
  • Avoid currency conversion charges when spending abroad
  • Earn cashback on day-to-day spending
  • A relatively low 14.816% interest rate on purchases

Cons

  • £70 annual account fee
  • Applicants with low credit scores are unlikely to be eligible

How does it compare?

NatWest's card

Data indicated here is updated daily
Name Product Purchases Annual/monthly fees Rewards earn rate Rep. APR Link Incentive Representative example
NatWest Business Plus Credit Card Mastercard
14.816%
£70 per annum
0.5% cashback
29% (variable)
More Info
0.5% after £1 of yearly spend. Maximum of £400 cashback paid per month. Cashback paid Monthly into Card Account. 2% cashback on eligible trade and business supplies, 1% cashback on eligible fuel and hotel accommodation and 0.5% cashback on all other business spending. Max £400 per annum.
Representative example: When you spend £1,200 at a purchase rate of 14.816% (variable) p.a. with a fee of £70 per annum, your representative rate is 29% APR (variable).
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Compare up to 4 providers

Other popular 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).
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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 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

Am I eligible?

Interested? Before going any further, check you meet the following requirements:

  • Your business will need to be registered in the UK and have an annual turnover below £6m.
  • You’ll need to already hold a business current account with NatWest (in the same legal entity name).
  • You’ll need to be a director of the business, aged over 18 and resident in the UK and not have been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree.

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.

To help speed up your application, it’s a good idea to have a few key details to 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).

Our verdict

If you simply want a card to help manage an irregular cash flow, then this card’s little sister can do that too, without the annual fee. But for most businesses with an annual turnover of up to £6m, this card is likely to offer more in benefits than it costs. However, you could potentially access even more rewards through the likes of American Express or Capital on Tap

Frequently asked questions

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