TSB Business Credit Card review

Last updated:  

This card is no longer available, but you can use this page to compare alternatives.

This TSB card allowed business owners to take control of company spending and set individual card limits for staff. As of June 2019, the card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to browse the range of credit cards currently available from TSB and to compare similar cards from other issuers.

Representative example: When you spend £1,200 at a purchase rate of 17.6% (variable) p.a., your representative rate is 17.6% APR (variable).

Up to 45 days

Interest-free each billing period

17.6%

Representative APR

£0

Account fee

£50

Minimum credit limit

Details

IssuerTSB
NetworkVisa
Annual/monthly fees£0
Purchases17.6%
Purchases interest-free periodUp to 45 days
Cash advances17.6%
Min credit limit£50
Max credit limitSubject to status: £25,000
Additional cards available20
Annual/monthly fees£0
Foreign usage charge (EU)2.95%
Foreign usage charge (rest of world)2.95%
Cash advance fee2.5% (min. £2.5)
Late payment fee£12
Duplicate statement fee£6
Exceeding limit fee£12
Additional card fee£0
Dormancy fee£0

The TSB Business Credit Card is issued on the Visa network (used by a whopping 3.3 billion cards), so you'll be able to use it at more than 46 million merchants across more than 200 countries and territories.

In return for a fee of £0, TSB offers a straightforward Visa business card with a tailored credit limit between £50 and £25,000.

Provided you clear your balance in full and on time each month, your business can also to take advantage of up to 45 days of 0% interest on your sterling purchases.

Pros and cons

Pros

  • Up to 45 days to spread the cost of purchases (provided you pay off your balance in full each month)
  • No annual fee
  • A relatively low 17.6% interest rate on purchases

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • You may be offered an opening credit limit as low as £50

Other 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).
British Airways American Express Accelerating Business Card
22.2%
£210 per annum
1.5 points per £1 spent
80.3% (variable)
Go to site
More Info
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 22.2% (variable) p.a. with a fee of £210 per annum, your representative rate is 80.3% 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 TSB's app, by logging in to your online banking or over the phone (0345 835 3858). 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

Sorry – TSB is no longer accepting applications for this card. However you may wish to consider one of the alternatives listed above.

Frequently asked questions

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

If TSB is able to offer you this deal, the offer will specify a tailored credit limit based on TSB's assessment of your situation and your business. The minimum limit offered on the card is £50, while the maximum is £25,000. Once you've had the card for a while and shown TSB that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the TSB Business 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 TSB Business Credit Card is 2.5% (min. £2.5). For example, if you withdraw £50, you'll incur a fee of £2.50. Withdraw £250, and you'll incur a fee of £6.25.

The interest rate on this part of your balance will be 17.6%, which is the same as the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 45 days interest-free" grace period won't apply).

How much does it cost to use the TSB Business Credit Card abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£176.54), it'll cost you around £5.21.

What is the minimum payment on the TSB Business Credit Card?

Each month you must pay at least 5% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £90.00 outstanding, you'd pay £5.00, and if you had £400.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.

Can I get additional TSB Business Credit Cards for my team?

Yes, you can request up to 20 more. There's no fee for additional cards.

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You can read more about our scoring criteria on our credit card methodology page.

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