Best Business Cashback Credit Cards

Discover the best business cashback credit cards for your UK business.

Updated: February 11, 2024
Matt Crabtree

Written By

Matt Crabtree

|
Rebecca Goodman

Edited By

Rebecca Goodman

 

Whether you're a freelancer or a business owner in the UK, you may need to manage your business expenses.

One way to help is by using a cashback credit card which allows you to earn back some spending costs in cash.

There are lots of business cashback cards are available, and it's important to shop around and compare to pick the right one for you.

Here we look at how these credit cards work, when they might be useful and we've also put together our list of the best business credit cards available that offer cashback to make your research easier.

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1. Capital on Tap Free Rewards★★★★★Click Here
2. Capital on Tap Business Rewards★★★★★Click Here
3. Santander Business Cashback Credit Card★★★★★Click Here
4. NatWest Business Plus Credit Card★★★★Click Here
5. Barclaycard Business Cashback Credit Card★★★★Click Here
6. JUNI Business Card With Credit★★★★Click Here
7. Cashplus Business Credit Card★★★★Click Here
8. Virgin Money Credit Card★★★★★Click Here
9. American Express Platinum Cashback Credit Card★★★★★Click Here
10. American Express Platinum Cashback Everyday Credit Card★★★★★Click Here

What is a business cashback credit card?

Business cashback credit cards are credit cards that help your business to earn rewards.

Using these cards, you earn a cash reward as a percentage of your spending. You can then put the cashback back into your business, or use it for future spending.

How do business cashback credit cards work?

Cashback business credit cards work in the same way as cashback cards for personal use, they pay the card holder a percentage of cashback which is directly related to the amount spent on the card.

Once you make a purchase using the card, the provider will then pay you a percentage back. For example, you might spend £100 with a business cashback credit card. If the card offers 3% cashback, you will earn £3 from your spend. Here is a step-by-step explanation of how these cards work:

  • Make purchases: Use the card to pay for eligible business expenses. The credit card provider will offer you a rebate for each eligible expense. The cashback may be different for each thing you buy, such as 2% for fuel costs and and hotel costs may earn 3%. 
  • Accumulate cashback: Your cashback will not be applied immediately, instead you will see on your monthly statement and it will stay on the card until you redeem it.
  • Redeem the cashback: Some credit card providers will apply the cashback to your monthly balance while others will allow you to redeem the cashback as you wish.

Business cashback credit cards: pros and cons

Multiple perks and disadvantages come with business cashback credit cards.

Knowing these pros and cons can ensure you decide whether applying for a card is worth it. Here are the main pros and cons to consider:

Pros

✔️ Offset future business costs: You may be able to cover some of your future business expenses with this card.

✔️ Benefits to your business: Many of these cards include extra features such as travel insurance or air miles.

✔️ Build a credit history: As you use this card, and if you make all repayments on time, you can build a credit history for your business. You will find it easier to get finance approval with a good credit history. For instance, you may increase your chances of getting approved for a business loan. 

✔️ Additional cards available: Many of these card providers offer additional cards. With this feature, you can provide your employees with their own card. This option makes it easy to earn cashback faster across multiple cards.

✔️ Interest-free credit period: Some cards come with an interest-free credit period allowing you to spread the cost of new purchases.

Cons

❌️ Interest costs: Your business must pay the entire balance monthly to avoid interest costs.

❌️ Annual fee: You may need to pay annual fees.

❌️ Overspending risks: Credit cards can lead to overspending so only spend what you would have anyway, without the card, and always make repayments on time.

❌️ Good turnover required: You need a good business turnover to be eligible for these cards. The provider will check the performance of your business beforehand.

❌️ Limits on cashback: Many cards only pay cashback when you buy certain items.

Business cashback credit cards: features to look out for

These cards often come with a few extra features, which you can compare before choosing one.

Here are the essential features you need to know when considering your options.

  • Ability to track business expenses: You can track business expenses relatively easily using the statements you receive or via a card's app.
  • Protection from fraudulent activity: These cards often provide features that protect your business from fraudulent activity.
  • Option to manage accounts online: Most of these cards provide an online or app account management feature.

Best business cashback credit cards compared

Having considered the perks, disadvantages, features, and how cashback credit cards for businesses work, if you've decided on might be right for your company, here we've picked some of our favourites:

1. Capital on Tap Free Rewards

Capital on Tap Free Rewards

Capital on Tap Business Rewards
Credit Limit
Up to £250,000
Representative % APR (variable)
As low as 15.5% APR
  • Uncapped 1% cashback on card spending.
  • Exclusive offers including savings at Slack, Dropbox, and Superscript.
  • No annual fee.

Representative Example – Your APR and credit limit vary depending on your circumstances.

Using Capital on Tap, you could earn 1% cashback on eligible business purchases. A big advantage is that the cashback was uncapped.

Some eligible purchases where you can earn cashback include bills and operating costs, the card also has no annual fee.

It has some extra business rewards included too, such as Dropbox and Slack and it as 24/7 support if you need help with anything. The interest rates ranged from 15.5% to 35.15% with this card.

2. Capital on Tap Business Rewards

Capital on Tap Business Rewards

Capital on Tap Business Rewards
Credit Limit
Up to £250,000
Representative % APR (variable)
As low as 15.5% APR
  • Uncapped 1% cashback on card spending.
  • Annual fee £99.
  • Redeem points for Avios.

Representative Example – Your APR and credit limit vary depending on your circumstances.

This card has a fee, of £99 per year, but it also pays 1% cashback on eligible purchases and Avios points are available too.

The annual percentage rate is 15.5% although this is a variable rate, which can change and the provider can charge up to 35.15%.

There is a limit of £250,000, depending on credit history, and it has unlimited free extra cards available. You can also set limits on monthly spending which can help with cash flow management.

3. Santander Business Cashback Credit Card

Santander Business Cashback Credit Card

Santander Business Cashback Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
23.7% APR
  • 1% cashback on all business spend with no cap.
  • No foreign transaction fees on purchases abroad when paying in the local currency.
  • Annual fee £30.

Representative Example – If you spend £1,200 at a purchase interest rate of 18.9% p.a. (variable) your representative APR will be 23.7% APR (variable). Annual fee £30. Your APR and credit limit may vary depending on your circumstances.

Using the Santander business cashback credit card, you could earn 1% on all business spending. This amount isn't capped and there are no transaction costs when making purchases abroad.

There is an annual fee of £30 but additional cards are free, to a maximum of four.

The APR is 23.7% APR, although this depends on credit history. There is also a 56-day interest-free period on purchases.

4. NatWest Business Plus Credit Card

NatWest Business Plus Credit Card

NatWest Business Plus Credit Card
Credit Limit
Minimum £500
Representative % APR (variable)
29.0% APR
  • £70 annual fee.
  • Up to 56 days interest-free credit period on purchases if you pay your balance in full.
  • Cashback on everything you buy.

Representative Example – If you spend £1,200 at a purchase interest rate of 13.9% p.a. (variable) your representative APR will be 29.0% APR (variable). Your APR and credit limit may vary depending on your circumstances.

With the NatWest Business Plus Credit Card, there is a tiered level of cashback paid, depending on what you're buying. It starts at 0.5%, and for travel and accommodation spending it rises to 1%. For eligible business costs, it's 2% and for charging an electric vehicle it's 3%.

Cashback is capped, at £600 a year, and it has a £70 annual fee. Yet there are no foreign transaction fees and it has a 56-day interest-free period.

The annual percentage rate is 29.0% and depends on credit history.

5. Barclaycard Business Cashback Credit Card

Barclaycard Business Cashback Credit Card

Barclaycard Business Cashback Credit Card
Credit Limit
Minimum £1,000
Representative % APR (variable)
27.5% APR
  • Get 2% cashback for three months.
  • Keep track of your business transactions.
  • No annual fee and no additional cardholder fees.

Representative Example – If you spend £1,200 at a purchase interest rate of 27.5% p.a. (variable) your representative APR will be 27.5% APR (variable). Your APR and credit limit may vary depending on your circumstances.

The Barclaycard business cashback credit card has no annual fees and 56 days of interest-free credit when the balance is paid in full.

It also often runs promotional deals to increase the cashback paid and includes the FreshBooks accounting plan. There are several rewards included, such as with AXA Health cashback, you could get 10% cashback within the first year of subscription.

To apply, your business needs a turnover of more than £10,000 a year with no history of bankruptcy.

6. JUNI Business Card With Credit

Juni Business Card With Credit

Juni Business Card With Credit
Credit Limit
Minimum 10k
Representative % APR (variable)
None
  • Credit lines from £10k up to £2M upon eligibility.
  • 37 to 60-day payment terms.
  • 1% cashback on all eligible spend.

Fees and interests apply in case of late payment only.

The JUNI business card pays 1% cashback, paid in 30 days and the cashback level is not capped.

Virtual cards are also available in currencies including Euros, Sterling, and US dollars. You can have up to 10 cards and there is a spend limit of £250,000 per card each day.

7. Cashplus Business Credit Card

Cashplus Business Credit Card

Cashplus Business Credit Card
Credit Limit
Minimum £300
Representative % APR (variable)
From 19.94% APR
  • 1% cashback on purchases.
  • No annual or monthly fees.
  • Up to 56 days’ interest free credit, when you pay in full each month.

Rates from 19.94% APR to 49.94% APR depending on individual circumstances.

You can only open a Cashplus business credit card if you're invited to. If approved, using the Cashplus card can earn a business 1% cashback on spending. This cashback is available on the first £100,000 of eligible purchases made with the card each month.

You can't earn cashback on certain things, including cash advances, ATM withdrawals, fees and charges, and other company expenses.

The variable interest rate is 19.94%, although this depends on credit history. There are no annual fees and it offers a 56-day interest-free credit when the balance is paid in full every month.

8. Virgin Money Credit Card

Virgin Money Credit Card

Virgin Money Credit Card
Credit Limit
Subject to Status
Representative % APR (variable)
Subject to Status
  • Track your balance and transactions with Virgin Money Credit Card app.
  • Get 24/7 support with your credit card from Redi.
  • Get cashback with your Virgin Money Credit Card.

Rates from 19.5%-26.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

Using the Virgin Money credit card, you can earn cashback on eligible spending.

To use the card, you'll need to have the bank's app and the cashback can be transferred to another bank account or used to pay the card off.

9. American Express Platinum Cashback Credit Card

American Express Platinum Cashback Credit Card

American Express Platinum Cashback Credit Card
Credit Limit
Minimum £700
Representative % APR (variable)
36.7% APR
  • Get 5% cashback on your purchases (up to £125) for the first three months of Cardmembership.
  • Enjoy carefully selected offers from AMEX range of retail and travel partners.
  • Annual fee £25.

Representative Example – If you spend £1,200 at a purchase interest rate of 31.0% p.a. (variable) your representative APR will be 36.7% APR (variable). Your APR and credit limit may vary depending on your circumstances.

With the American Express card, you can earn 0.75% cashback on our eligible spending as a sole trader. This increases to 1.25% if you spend more than £10,000. 

This card had no cashback limit but there is an annual fee of £25.

There's an APR of 36.7%, which is based on your credit history, and it's not suited to those with a poor credit history. o

It also includes other rewards such as travel accident insurance, purchase and refund protection, American Express offers and more.

10. American Express Platinum Cashback Everyday Credit Card

American Express Platinum Cashback Everyday Credit Card

American Express Platinum Cashback Everyday Credit Card
Credit Limit
Minimum £700
Representative % APR (variable)
31.0% APR
  • Get 5% cashback on your purchases (up to £100) for the first three months of Cardmembership.
  • Enjoy carefully selected offers from AMEX range of retail and travel partners.
  • No annual fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 31.0% p.a. (variable) your representative APR will be 31.0% APR (variable). Your APR and credit limit may vary depending on your circumstances.

The American Express Platinum card allows customers to earn 1% cashback on eligible spending when they spend more than £10,000 a year or 0.5% cashback on eligible spending of up to £10,000.

There is no annual fee and no limit on cashback, it has an APR of 31%, which is dependent on credit history. It also includes rewards such as American Express rewards and travel accident insurance.

How to choose a cashback business card

Choosing a card that offers cashback for your company requires you to consider a few factors.

Here are the factors you should keep in mind.

  • The percentage of cashback: How high is the percentage of cashback? Is it 1%? Is it 3%? The higher the cashback percentage, the more you can benefit from these cards.
  • Interest rate penalties: Is the interest rate penalty for failing to pay the balance high? Is it more than 30%? The higher the interest rate penalties, the more you will need to pay due to clearing your balance.
  • Fees for extra cards: Are there fees for requesting and receiving extra cards? Does the provider offer the right amount of cards for your business?
  • Eligible purchases: Can you purchase various items and still receive cashback? The wider the scope of eligible purchases, the more cashback you can potentially earn.
  • Foreign transaction fees: Does the card come with a foreign transaction fee? Is the fee high, and can you afford it?

The verdict

There are lots of credit cards on the market and if you can find one that pays cashback, this can be a bonus for your business.

However, it's worth looking closely at the eligible purchase categories, annual fees, interest and other factors before you choose one. You'll want a card that benefits you, if you travel a lot for work, for example, a card that pays air miles and has no foreign transaction fees could be your best bet.

It's also worth keeping in mind that unless you make the payments in time, any benefits you receive will be wiped out by the interest you'll be charged.

Related Guides:

Best Business Cashback Credit Cards: FAQs

Are Cashback Cards Worth it?

Which Business Credit Card Is Best?

Can You Get Cashback on Business Cards?

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