RBS Business Plus Credit Card review 2020

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RBS Business Bank Account holders can enjoy cashback on day-to-day spending and benefit from no foreign transaction fees on purchases abroad.

Finder rating: ★★★★★

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

IssuerRoyal Bank of Scotland
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 Royal Bank of Scotland (RBS) Business Banking (or are interested in switching), then this card could help your company manage an irregular cash flow while offering some appealing perks.

In return for a fee of £70 per annum (per cardholder), you’ll enjoy 0% fees on non-sterling transactions, cashback on everything you buy (see table below) plus a well-below-average standard rate of 14.816%. 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.
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 card is a nice option if you’re planning to use it constantly, both in the UK and abroad. If you do, the cashback and the lack of foreign transaction fees will make the annual fee well worth it.

The RBS 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?

Royal Bank of Scotland's card

Data indicated here is updated daily
Name Product Purchases Annual/monthly fees Rewards earn rate Rep. APR Link Incentive Representative example
Royal Bank of Scotland 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
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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)
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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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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 Royal Bank of Scotland's app, by logging in to your online banking or over the phone (0345 307 0900). 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 RBS (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.

Applying for the RBS Business Plus Credit Card

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

  • Scan and email the form
  • Post the form to RBS
  • 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, RBS will need details of each business partner/owner, including their date of birth and their UK residential address history for the past three years.

If you want to transfer a balance, you’ll need to phone the RBS business team (0345 307 0900).

Frequently asked questions

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

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

Can I withdraw cash using the RBS Business Plus Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.

The cash advance fee on the RBS Business Plus 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 14.82% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

Can I get additional RBS Business Plus Credit Cards for my team?

Yes. Royal Bank of Scotland doesn't specify a maximum number of cards you can request. Each card comes with an additional account fee of £70. Plus, with additional cards, you could earn cashback at a faster rate.

Can I transfer a balance from another RBS group card?

No. Sadly, transfers from NatWest, RBS or Ulster Bank cards are off the table. As are transfers from any personal credit cards (regardless of which bank it’s held with).

Do I get interest-free days on non-sterling transactions?

Yes! That “up to 56” days applies to transactions at home and abroad. So if you make a purchase abroad on day one of your billing cycle, then pay it off your payment-due date, it will have benefitted from the full 56 days. It doesn’t apply to cash transactions, however (which includes withdrawing cash and buying foreign currency). Additionally, you’ll need to have paid off your full balance from the previous billing period and you’ll need to pay off your full balance at the end of the current billing period in order to benefit from this feature. Set-up a direct debit to always clear the full balance, and you won’t even have to think about it.

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