RBS Business Credit Card Review

Start your research for finding your business a credit card with our RBS Business Credit Card review.

Updated: May 18, 2024
Matt Crabtree

Written By

Matt Crabtree

CompareBanks is reader-supported. When you click through some links on our site, we may earn an affiliate commission. Learn more

Finding the right business credit card is a challenging feat when so many are out there. The best way to find the most suitable credit card for your business is by reading reviews.

That's part of what we do here at Compare Banks, and we have various business credit card reviews for you to read and help you decide.

In this review, you'll learn about the Royal Bank of Scotland (RBS) Business Credit Card, its features and more.

  • Discover the right business credit card for your financial goals

    Just answer a few questions to compare credit cards for your business.

    Get Started
    customers

Who Is the Royal Bank of Scotland?

The Royal Bank of Scotland is a significant retail and commercial bank in Scotland. RBS is a banking subsidiary of the NatWest Group.

RBS created the world's first overdraft and the first house purchase loan by a UK bank and was the first to have a fully-fledged internet banking service. Since its establishment, it has prided itself on making life easier for customers.

RBS provides a variety of products and services for businesses, such as:

  • Business bank account: RBS offers a business current account for your everyday expenses. You can set up a direct debit between your accounts if you have both the current and credit card accounts to ensure you make repayments on time.
  • Business credit cards: RBS offer a wide range of business credit cards, from reward-based ones to virtual card solutions. We will dive into more details further about business credit cards by RSB.
  • Loans and finance: The Royal Bank of Scotland offer loan and finance options such as small business loans and more extensive business solutions. You can check your eligibility online, too, before you apply.
  • Business support: On top of attentive customer service, RSB offers several methods of support via their website, like managing signatories, guides to online banking, and more.

Royal Bank of Scotland Business Credit Card

RBS Business Credit Card

RBS Business Credit Card
Credit Limit
Min. £500
Representative % APR (variable)
24.3% APR
  • Benefit from an interest-free period of up to 56 days when you pay your balance in full.
  • Get 1% cashback at eligible fuel and electric vehicle charging stations.
  • No annual card fee for the first year, normally £30.

Representative Example – If you spend £1,200 at a purchase interest rate of 16.9% p.a. (variable) your representative APR will be 24.3% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Annual fee: There is a £30 annual fee for each card.
  • APR variable: 24.3%
  • Credit limit: The minimum credit limit is £500; the maximum credit limit is subject to status.

Representative example: Your APR variable rate is 24.3% with a 16.9% purchase rate per year, with an assumed credit limit of £1,200 and a £30 annual fee per cardholder.

The RBS Business Credit Card has a 5* Moneyfacts rating so that you can manage your business's finances with confidence.

With the RBS business credit card, there is no annual card fee for the first year. After the first year, there is a £30 per cardholder. However, the fee could be waived the second year if you spend and pay back £6,000 or more each year.

On top of no annual fee for the first year, you can also benefit from an interest-free credit period of up to 56 days when you continue to pay your balance in full. There is a minimum credit limit of £500, and the maximum is subject to status.

The credit card also allows you to earn cashback of 1% at eligible fuel and electric vehicle charging stations. You can also enjoy merchant offers with Business Savings from Mastercard.

RBS business banking customers can take advantage of flexible monthly payments, and you can pay the minimum or the amount in full each month. Or, you can pay the minimum and then later in the month repay the whole balance to give yourself more time to pay back the remaining balance on your credit card account.

If you're looking to manage your company's spending, the account comes with ClearSpend, a free mobile app that helps you set up reports for your spending so you can analyse business spending.

To apply, you must be a UK resident aged 18 and over, your company must be a UK business, you must be the business owner, and you'll need to be one of RBS's business banking customers. So, if you have a business bank account elsewhere, you will need to switch bank accounts.

Royal Bank of Scotland Business Plus Credit Card

RBS Business Plus Credit Card

RBS Business Plus Credit Card
Credit Limit
Min. £500
Representative % APR (variable)
29% APR
  • Up to 56 days interest-free credit period on purchases.
  • No foreign transaction fees on purchases abroad.
  • £70 annual fee per cardholder.

Representative Example – If you spend £1,200 at a purchase interest rate of 13.9% p.a. (variable) your representative APR will be 29% APR (variable). Your APR and credit limit may vary depending on your circumstances.

  • Annual fee: £70 per year for each card.
  • APR variable: 29%
  • Credit limit: The minimum credit limit is £500; the maximum credit limit is subject to status.

Representative example: 29% APR variable, 13.9% purchase rate per year, with an assumed credit limit of £1,200 with a £70 annual fee per cardholder.

As a business customer, your business can benefit from using a Business Plus Credit Card from RSB. Although this review concerns the business bank account, this credit card deserves an honourable mention.

The Business Plus Credit Card is all about rewarding businesses for spending. You can benefit from 56 days interest-free credit for purchases.

You can earn 0.5% cashback on everything you buy, 1% cashback on eligible travel and accommodation, 2% on eligible trade supplies and 3% at eligible fuel and electric vehicle charging stations. You can earn £600 cashback per year.

There are no foreign transaction fees on purchases abroad to enhance your travel experience even further, besides saving money on travel and accommodation.

Benefits and Drawbacks of RBS Business Credit Card

To understand a product better, it's a good idea to look at the benefits and drawbacks to help you decide if it's worth it, and that's why we've compiled a list of them.

Benefits

✔️ You can spread the cost over 56 days interest-free if you pay off your balance in full each month.

✔️ A low APR variable rate of 24.3%.

✔️ If you spend £6,000 or more on your credit card each year, you can waive the annual fee.

✔️ You can earn cashback with your credit card on certain purchases.

✔️ You can choose flexible monthly repayments; you can pay the minimum or the amount in full each month.

Drawbacks

❌️ The business credit card is only available to existing business bank account customers. So, if you're not an existing customer, you will need to apply for a business bank account first before you'll be accepted for a credit card.

❌️ Having a low credit score makes eligibility unlikely, as banks take personal credit scores of business owners into account.

❌️ If you need multiple cards for your employees to make business expenses, you will be charged per card each year.

RBS Business Credit Card: The Verdict

The Royal Bank of Scotland Business Credit Card comes with some promising features like flexible repayments and cashback options, and you can waive the annual card fee, too, if you meet the spending requirements.

Before you apply for any credit card, remember to read the full terms and conditions to ensure you know everything about the credit card you're using.

Related Guides:

FAQs

Is It Beneficial to Have a Royal Bank of Scotland Business Credit Card?

Is There a Personal Credit Check for a Business Credit Card?

What Are the Drawbacks of Royal Bank of Scotland Business Credit Cards?

Related Articles

What Is a Visa Credit Card?
Are you looking for an extra cash boost but are not sure where to start? A Visa...
Best 0% Balance Transfer Credit Cards: Comparing APR, Fees, Rewards & More
Best 0% Balance Transfer Credit Cards: Comparing APR, Fees, Rewards & More
Are you looking to reduce your credit card debt and pay a lower rate of interest?...
What are the Best Business Credit Cards in 2024?
What are the Best Business Credit Cards in 2024?
Business credit cards offer a flexible way for businesses to get access to cash,...
Best Instant Approval Credit Cards for Businesses
As a small business owner, you may need to make frequent purchases or handle unexpected...

Mentioned Banks

About Bank of Scotland Bank of Scotland is a commercial clearing bank based in Edinburgh. Not to be confused with Royal Bank of Scotland, it was established in 1695 and is one...
Learn More
About ClearBank ClearBank is a new clearing bank founded by WorldPay founder Neil Ogden. It is the first new clearing bank opened in the UK in 250 years. It is a ‘bank for banks’...
Learn More
About Havin Bank Havin Bank, formerly known as Havana International Bank, or HIB, was founded in the United Kingdom in 1972. It received its banking authorisation the following...
Learn More
NatWest, or National Westminster, is a retail and commercial bank based in the United Kingdom. It is one of the ‘Big Four’ UK clearing banks and has more than 7.5million personal banking...
Learn More
About RBS RBS, or Royal Bank of Scotland, is a retail banking subsidiary of the Royal Bank of Scotland Group. The Group’s other retail subsidiaries are NatWest and Ulster Bank....
Learn More
About Santander Santander UK is a British bank. Though it is a British company and autonomously managed, it is entirely owned by the Spanish Santander Group. Santander is one...
Learn More