Santander Business Cashback Credit Card review January 2020

Last updated:  

Designed for small- and medium-sized businesses looking for payment flexibility, this card goes the extra mile with an attractive cashback perk on all purchases.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of . All - Fee paid is per business, not per card: £30 per annum, your representative rate is 23.7% APR (variable).

23.7%

Representative APR

0%

Foreign transaction charge

£30

Yearly account fee

Details

IssuerSantander
NetworkMastercard
Annual/monthly fees£30 per annum (fee paid is per business, not per card)
Balance transfers18.9%
Balance transfer fee3% (min. £5)
Purchases18.9%
Purchases interest-free periodUp to 56 days
Cash advances27.9%
Min. credit limit£500
Max credit limitNot specified
Additional cards available3
Incentive1% after £1 of monthly spend. Cashback paid Monthly into Card Account.
Cashback details1% after £1 of monthly spend. Cashback paid Monthly into Card Account.

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

Businesses with a maximum of two directors, owners or partners can enjoy up to 56 days interest-free each billing cycle with this card, thus getting extra time to balance out any irregular cash flows – as long as they always pay back the whole sum on time (this doesn’t apply to cash withdrawals).

Aside from a decent 18.9% standard purchases rate, the cherry on top of this card cake is the nice cashback you get on all purchases. It’s paid monthly into your credit card account and is only limited by your overall credit limit. Cashback cards make especially good sense when you use them regularly, so this goes well with this card’s long interest-free period.

Santander Business Cashback Credit Card’s second strongest feature is probably the reasonable annual fee. Unlike many other card issuers, Santander charges per business and not per card, and allows you to add up to three extra cardholders among your employees, all for the same price.

All in all, if you use this card correctly and comparatively often, the cashback will match the annual fee quite quickly, and you’ll be able to get up to four credit cards for your business without spending a penny.

Finally, Santander business credit cards are issued on 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 17th, 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)
Opt-in to Capital Club for £99 pa to earn 1 point for every £1 spent. 2 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 15 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 Credit Card with Capital Club membership
39.9%
Capital Club £99 p.a. or On Tap Club £249 p.a
39.9% (variable)
Earn 1 point for every £1 spent. 2 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 15 free supplementary cards available. Opt-in to On-Tap Club for £249 pa to earn 1 point for every £1 spent. 1 point can be redeemed for either 1 Avios or 1p in cashback. 20,000 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).
Barclaycard Business Premium Plus Credit Card Mastercard
0% for 6 months reverting to 14.9%
£100 per annum
36.2% (variable)
0.5% after £1 of yearly spend. Maximum of £400 cashback paid per year. Cashback paid Anniversary into Card Account. If less than £10 Cashback earned in any Cashback Year, it will not be credited to the account and will not be carried forward to the following year.
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a. with a fee of £100 per annum, your representative rate is 36.2% APR (variable).
Barclaycard Business Select Credit Card Mastercard
0% for 6 months reverting to 19.9%
Year 1 - £0, Year 2 onwards - £32 per annum
26.4% (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 19.9% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £32 per annum, your representative rate is 26.4% APR (variable).

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

When it comes to repayments, you can make manual repayments online or over the phone (0800 218 2345), 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 Santander Business Cashback Credit Card

The Santander Business Cashback Credit Card is only available for small and medium businesses that have a maximum of two directors, owners or partners. Your business must be registered in the UK and you and the other partner or director must also be UK residents.

Unfortunately, you can’t apply remotely for this credit card – you’ll need to make an appointment with a Santander “business relationship manager” and apply in one of its branches.

When you make the appointment, they’ll usually let you know which documents you need to bring in order to be able to complete the application. In general, be prepared to give details of both your business (name, address, registration number, annual turnover and other financial information) and its partners or directors (contact details, proof of identity, address history).

Finally, in order to add extra cardholders to your credit card account, you’ll have to complete a form with the cardholder’s details. This can be found online on Santander’s website and can be returned via mail.

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.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site