New NatWest Business Plus credit card rewards small businesses with up to £400 cashback
NatWest has launched a new Business Plus credit card, a reward-based credit card that enables business customers to earn up to £400 cashback, per year, on all their business spending. This new credit card will reward customers as they go about their day-to-day business transactions; whether that is making international purchases with no foreign transaction charges, or benefiting from 2% cashback on trade and business supplies spending. Customers will earn at least 0.5% cashback on all of their business spending.
The Business Plus credit card, which charges a £70 annual fee per cardholder, not only allows customers to make overseas purchases without being charged a non-sterling fee but also gives them access to cashback as well as a competitive purchase and cash interest rate of 13.9% p.a. (variable) with up to 56 days’ interest free credit on purchase transactions as long as the customer pays the balance in full and on time.
Haydn Thomas, managing director (Interim) Business Banking at NatWest said:
“At NatWest, we want to be the best bank for British business – providing support to our businesses where and when they need it most. SMEs make up more than 99% of the private sector, their growth is vital to the UK economy and banks have an important role to play in helping these businesses develop, particularly when it comes to managing day-to-day expenses. This new credit card is a way of making business simpler and more rewarding for our small businesses customers.”
Cathy Dargue, head of payables and receivables at NatWest, said:
“The Business Plus credit card provides our customers with a simple credit card product which helps them save money when using it at home or abroad. We want to help our business customers, rewarding them for their day-to-day business spending, whilst enabling them to keep track of their spend on the go with our new mobile app, ClearSpend.”
The card is available to UK-based SMEs that are Limited Companies, Limited Liability Partnerships, Partnerships (of four or more partners) and Charitable Incorporated Organisations from 18 September and will be extended to Sole Traders and Partnerships (of up to three partners) in 2019. Businesses can apply online or speak to their relationship manager to find out more.