Santander Business Credit Card Review

Read on as we delve into the credit cards offered by Santander in this expert review.

Updated: May 18, 2024
Matt Crabtree

Written By

Matt Crabtree

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How well do you manage your business and personal finance? If you need an occasional injection of cash, a business credit card from Santander could be the business tool you need.

Business credit cards are financial products that manage your business cash flow and make the necessary purchases whilst paying the bill at a later date or in instalments.

In this article, we will review the available Santander Business Credit Cards on offer in the UK, recommending the best business credit cards for small business owners.

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What Is a Santander Business Credit Card?

Santander offers a business credit card that ensures you can make the necessary purchases even if you do not have the cash available to do so. 

A business credit card is the perfect financial product for small business owners who need to invest in their business before earning sales revenue or to help manage cash flow in the business.

Depending on your circumstances, you will receive a credit limit with your successful credit card application. You will usually need to pay interest on the purchases made with the credit card, although many providers offer interest-free business credit cards for high business credit scores.

How Does a Santander Business Credit Card Work?

Santander’s Business Credit Cards work in the same way as personal credit cards, allowing you to make purchases and pay the balance at a later date. However, you can only make business purchases with a business credit card. 

You will need to apply for the Santander Business Credit Card online and follow the necessary process. If your application is successful and you decide to agree to the terms of the credit card, you will receive a plastic credit card and PIN in the post that you can load into your digital wallet on your mobile phone.

To make a purchase, use the business credit card in the same way that you use a personal Visa credit card or debit card, tapping the plastic card or virtual card onto the card reader, or inserting the plastic card into the card reader and entering the PIN.

You will receive a credit card statement each month, requiring you to make a payment by a specific date. This could be a minimum payment amount. Most providers also allow users to access an app so you can view your purchases and credit limit in real time with transactions automatically updated on the app.

Are There Different Types of Santander Business Credit Cards?

There is only one Santander Business Credit Card that you can apply for:

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.
  • No interest charged if balance paid off in full and on time each month.

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.

Features:

  • 1% cashback uncapped on all business spending
  • Zero foreign transaction fees
  • £30 annual fees
  • Add further cards to your account for free
  • Interest-free when paying the balance in full each month
  • Set controls to help monitor spending
  • 23.7% representative APR (variable)

The Santander Business Cashback Credit Card offers a series of benefits to small business owners. You can receive 1% cashback on all business spending, earning you money for using your credit card.

You will pay a £30 annual fee to access this business credit card and you can add additional cards to your account at no extra cost. The typical representative APR (variable) is 23.7%.

There are zero foreign transaction fees when making a purchase abroad in the local currency. Furthermore, you can enjoy interest-free purchases as long as you pay your full balance each month and set controls so you can manage and monitor spending.

To be eligible for the Santander Business Cashback Credit Card, you must have an existing 123 Business Current Account or a general Business Current Account with Santander. Furthermore, this credit card can only be used for business purchases.

Are There Alternatives Available From Santander?

Whilst you cannot use a business credit card to pay for personal purchases, you can use a personal credit card to make business purchases. You might need to use a personal credit card if you have a startup business and you have an excellent personal credit rating. 

Here are some alternatives that you could access from Santander:

1. Santander All in One Credit Card

Santander All in One Credit Card

Santander All in One Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
29.8% APR
  • 0% interest on purchases for 15 months.
  • 0% interest on balance transfers for 15 months with no balance transfer fee.
  • £3 monthly fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 23.9% p.a. (variable) your representative APR will be 29.8% APR (variable). Your APR and credit limit may vary depending on your circumstances.

Features:

  • 29.8% representative APR (variable)
  • £3 monthly fee
  • 0.5% cashback on all purchases
  • Zero foreign exchange fees on purchases abroad
  • 0% interest on purchases for 15 months
  • 0% interest on balance transfers for 15 months

The Santander All in One Credit Card typically charged 29.8% representative APR (variable). You can use the app to manage your credit limit and determine card controls.

You will need to pay a monthly fee of £3 for this credit card, although you will receive 0.5% cashback on all purchases. So, the more you spend on your card, the more you will earn in cashback.

Additional benefits include zero foreign exchange fees when you make a purchase abroad, along with 0% interest in purchases for 15 months. Furthermore, you can enjoy 0% interest on balance transfers, also for 15 months.

2. Santander World Elite Mastercard

Santander World Elite Mastercard

Santander World Elite Mastercard
Credit Limit
Subject to status
Representative % APR (variable)
49.8% APR
  • £15 monthly fee.
  • Access to 1000+ airport lounges and 1 million Wi-Fi hotspots worldwide.
  • 0% interest on purchases and balance transfers for 18 months with no balance transfer fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 18.9% p.a. (variable) your representative APR will be 49.8% APR (variable). Your APR and credit limit may vary depending on your circumstances.

Features:

  • £15 monthly fee
  • 49.8% representative APR (variable)
  • 24/7 access to Mastercard’s Concierge service
  • Zero foreign transaction fees
  • 0.5% cashback on purchases (up to £3,000 per month)
  • 40% discount on Santander Travel Insurance
  • 0% interest on purchase for 18 months
  • 0% interest on balance transfers for 18 months

When you opt for the Santander World Elite Mastercard, you can enjoy a vast range of benefits to suit your lifestyle. You will pay a monthly fee of £15 and will be charged 49.8% representative APR (variable).

Your World Elite Mastercard benefits from Santander include zero foreign transaction fees. You will receive 24/7 access to Mastercard’s Concierge service and a 40% discount on Santander Travel Insurance. 

You can earn 0.5% cashback on all purchases up to a value of £3,000 per month, whilst receiving 0% interest on purchases and balance transfers for 18 months.

3. Santander Everyday No Balance Transfer Fee Credit Card

Santander Everyday No Balance Transfer Fee Credit Card

Santander Everyday No Balance Transfer Fee Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
23.9% APR
  • 0% interest on balance transfers for 12 months.
  • 0% interest on purchases for 3 months.
  • No monthly account fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 23.9% p.a. (variable) your representative APR will be 23.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

Features:

  • 23.9% representative APR (variable)
  • Zero monthly or annual fees
  • 0% interest and no fee for balance transfers during first 12 months
  • 0% interest on purchases for the first 3 months

The Santander Everyday No Balance Transfer Credit Card will require no monthly fee and will charge 23.9% representative APR (variable).

This is a great credit card option if you need to transfer balances to a new credit card, saving you money on interest. You will receive 0% interest on balance transfers when you transfer balances within the first 12 months, and you will be charged no fee. Furthermore, you can enjoy 0% interest in purchases for the first 3 months.

4. Santander Everyday Long Term Balance Transfer Credit Card

Santander Everyday Long Term Balance Transfer Credit Card

Santander Everyday Long Term Balance Transfer Credit Card
Credit Limit
Subject to status
Representative % APR (variable)
23.9% APR
  • 0% interest on balance transfers for 26 months.
  • 0% interest on purchases for 3 months.
  • No monthly account fee.

Representative Example – If you spend £1,200 at a purchase interest rate of 23.9% p.a. (variable) your representative APR will be 23.9% APR (variable). Your APR and credit limit may vary depending on your circumstances.

Features:

  • 23.9% representative APR (variable)
  • Zero annual fees
  • 0% interest on purchases for 3 months
  • 0% interest on balance transfers for 26 months
  • 3% balance transfer fee or £5

The Santander Everyday Long Term Balance Transfer Credit Card requires no monthly or annual fee and charges 23.9% representative APR (variable).

You can enjoy 0% interest on purchases for 3 months and 0% interest on balance transfers for 26 months, creating a long term advantage for you. You will need to pay a balance transfer fee of 3% of the value, however, or £5, whichever is less.

At a Glance, Pros and Cons

Do you understand the benefits and limitations of a credit card from Santander?

Take a look at this section for a clear overview of the pros and cons:

Pros

✔️ Reputation — Santander is a major bank that you can rely on for your credit cards.

✔️ Rewards — Some credit card options offer excellent rewards and benefits, although a monthly or annual cost may apply.

✔️ Interest rates — Different interest rates are applicable for different credit card packages.

✔️ Branches — If you need any help with your Santander credit card, you can speak to someone at a local Santander branch.

Cons

❌️ Fees — Some of the credit cards offered by Santander charge considerable fees.

❌️ Lack of choice — Santander only offers one business credit card that is specifically tailored to businesses.

❌️ Prior requirement — You must have a qualifying business current bank account with Santander to qualify for their business credit card.

❌️ Interest — Some of the Santander credit cards charge substantial interest.

Santander Business Credit Card: Final Thoughts

Which Santander credit card is best for you?

The Santander Business Cashback Credit Cards are perfect for small businesses, providing you make sure you have a business current account with Santander. You will receive uncapped 1% cashback with such reward credit cards to help to pay for your business expenses, allowing further cashback cards for no extra annual fees.

You can implement credit controls through the online banking app and you will pay zero foreign transaction fees when making purchases abroad. However, this business credit card from Santander is subject to status and credit checks and may not be available to brand new businesses.

Related Guides:

FAQs

Can I secure cashback credit card deals from Santander?

Can I use the Santander Business Cashback Credit Card abroad?

Can I withdraw cash from an ATM using a credit card?

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