Business credit card

Interest-free credit is not available on balance transfers and cash advances.

Instead of paying the balance in full every month you can just pay the minimum amount by the required date. This can be handy if your customers are being slow to pay you.

What you should know

If you only pay the minimum payment it will take longer and cost more to clear your balance and there can be a risk of escalating debt, additional interest or charges and of potential financial difficulties.

ClearSpend provides you with control and visibility of card transactions, so you can feel comfortable issuing cards to employees and see precisely how money is being spent.

Find out more about ClearSpend

Set up spending alerts that warn you when you’re near your credit limit

Build and run reports which can be integrated with accountancy software

View 24 months of transactions online

Your payments are used to repay the items on your account in the following order:  

to reduce sums shown on your most recent monthly statement, according to their interest rates, with the highest rate paid first; and

if any payment exceeds your most recent monthly statement balance, the excess will then be applied to reduce sums charged to your card but not yet shown on any monthly statement. This is also done according to interest rates, with the highest interest rate paid first.

If parts of either of the balances referred to above have the same interest rate, sums on which interest is charged on interest will reduce first.

For further details, please refer to the Business Credit Card Agreement (section 8) and the Business Card General Terms.

The minimum payment will be the greater of:

1. £5 or the full balance if less; or
2. that month’s interest, any Default Charges, 1/12th of any annual fee and 3% of the remaining balance (excluding any annual fee).

How to reduce your interest charges

The best way to reduce interest charges on your business credit card is by repaying as much of your balance as you can afford to each month. Even if you want to stick to the minimum payment you currently make by monthly Direct Debit, you can still make extra payments on top, any time you want. The back of your credit card statement explains the variety of payment methods you can use.

£30 annual fee per cardholder – No card fee in the first year

No annual card fee after the first year if you spend £6,000 or more every year from account opening

Admin fee for late payment £12

Admin fee if a payment is returned unpaid £12

If business credit limit is exceeded £12

If a payment cheque is returned unpaid £25

Non-Sterling Transaction Fee – 2.95% of each foreign exchange transaction (including purchase of foreign currency and travellers' cheques)

An administrative charge for ancillary services (such as providing duplicate statements) (£1 per page, maximum charge £40)

Cash Advance charge – 3% of the transaction amount (minimum charge £3)

A balance transfer is when you move the money you owe (the balance) from one credit card provider to another, often with a lower rate of interest. That’s why if you do a balance transfer to the Royal Bank credit card, you might end up paying less.

How it works

Apply for a Royal Bank business credit card. If you’re accepted, you can then request a balance transfer, by getting in touch or online.

The balance transfer rate you’ll pay is on the back of your credit card statement (posted to you) or find out through Credit Card Online Services

You may request a balance transfer of up to a total of 95% of your available credit limit

What you should know

You can’t do a balance transfer from any other Royal Bank of Scotland Group credit card

• You can't do a balance transfer from any Personal credit cards

We might charge a fee when you do a balance transfer