Toolstation Trade Credit Card review December 2019

If you often order from Toolstation for your business, you may want to take a look at its credit card.

Toolstation, a supplier of tools and house accessories, offers a solid business credit card that can help you improve your business’s cash flow and buy you some extra time to better keep up with the payment of invoices.

Finder rating: ★★★★★

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).

24.9%

Representative APR

£0

Account fee

3 months

0% interest on purchases

Details

IssuerBarclaycard Business
NetworkMastercard
Annual/monthly fees£0
Purchases0% for 3 months reverting to 24.9%
Purchases interest-free periodUp to 56 days
Cash advances27.9%
Min. credit limit£1,000
Max credit limitSubject to status: £25,000
IncentiveApply 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.

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

This card comes with an appealing introductory interest rate of 0% for 3 months reverting to 24.9% on all purchases.

After the first 3 months, provided you always clear your balance in full, you’ll still get up to 56 days of 0% interest on your purchases each billing cycle, which can be extended to more than twice the time when your shop at Toolstation and other Travis Perkins group companies.

This card’s most appreciated feature is probably that it doesn’t charge an annual fee – which means that, if you use it correctly, the Toolstation Trade Credit Card can provide monthly credit to your business without costing you a single penny.

Since this card is provided by Barclays, you also get a range of online spending controls, which are especially useful if you’re planning on giving the card to one of your employees. You also get Barclays’ Business Rewards, which include discounts on a series of services, such as hotel booking and online advertising.

Finally, as this card is on the Mastercard network, you can use it everywhere a Mastercard commercial card is accepted.

How does this card compare with other similar cards on the market?

Table: sorted by representative APR, promoted deals first
Updated December 6th, 2019
Name Product Purchases Annual/monthly fees Rep. APR Incentive Representative example
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).
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).

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 (0808 163 5446), 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 Toolstation Trade Credit Card

If your business is UK-based and has a turnover of at least £10,000 a year, and you don’t own any other credit card with a company from the Travis Perkins group, then you can apply. Before applying, make sure you’ve compared the available options and checked the eligibility criteria carefully.

You can apply online from Barclay’s website. Here’s what you’re going to need:

  • Your business details. Address and company number
  • You business’s financial information. Annual turnover, profit before tax and bank details
  • Other owners’/directors’ details. Date of birth and address history

If you have prepared everything you need in advance, the application shouldn’t take more than 15 minutes.

Finder credit card ratings

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Our team evaluates credit cards to determine their value against similar products on the market.

We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.

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.

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