Santander Business Cashback Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £30 per annum, your representative rate is 23.7% APR (variable).
- Interest-free each billing period
- Up to 56 days
- Earn rate
- 1p per £1 spent
- Foreign transaction charge
- 0%
Our verdict
Designed for small- and medium-sized businesses looking for payment flexibility, this card goes the extra mile with an attractive cashback perk on all purchases.Businesses with a maximum of two directors, owners or partners can enjoy up to 56 days interest-free each billing cycle with this card, thus getting extra time to balance out any irregular cash flows – as long as they always pay back the whole sum on time (this doesn't apply to cash withdrawals).
Aside from a decent 18.9% standard purchases rate, the cherry on top of this card cake is the nice cashback you get on all purchases. It's paid monthly into your credit card account and is only limited by your overall credit limit. Cashback cards make especially good sense when you use them regularly, so this goes well with this card's long interest-free period.
Santander Business Cashback Credit Card's second strongest feature is probably the reasonable annual fee. Unlike many other card issuers, Santander charges per business and not per card, and allows you to add up to three extra cardholders among your employees, all for the same price.
All in all, if you use this card correctly and comparatively often, the cashback will match the annual fee quite quickly, and you'll be able to get up to four credit cards for your business without spending a penny.
Finally, Santander business credit cards are issued on the Mastercard network, so they can be used at more than 35 million merchants and ATMs worldwide.
Pros
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Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
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Customers report excellent customer service when dealing with Santander
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Avoid currency conversion charges when spending abroad
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Earn cashback on day-to-day spending
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A relatively low 18.9% interest rate on purchases
Cons
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What is a BA Amex companion voucher?
When you spend £12,000 on your BA Amex credit card or £10,000 on your BA Amex Premium Plus credit card, within a year, you could be eligible for a companion voucher.
A companion voucher allows you to receive a second seat for a companion on the same flight and cabin as you. British Airways American Express Credit Card Companion Vouchers can be redeemed in economy cabins, while British Airways American Express Premium Plus Card Companion Vouchers can be redeemed across all cabins.
From June 2022, American Express and British Airways are offering solo travellers a 50% discount on the Avios cost of the booking. Plus, more Avios and cash options when you're ready to redeem your companion voucher.
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What credit limit will I get with the British Airways American Express® Premium Plus Card? If American Express is able to offer you this deal, the offer will specify a personalised credit limit based on American Express's assessment of your situation. The minimum limit offered on this card is £500 and American Express does not specify a maximum. Once you've had the card for a while and shown American Express that you're reliable, you may wish to apply for a credit limit increase.
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Can I withdraw cash using the British Airways American Express® Premium Plus Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the British Airways American Express® Premium Plus Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250, and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 27.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
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How much does it cost to use the British Airways American Express® Premium Plus Card abroad? Non-sterling transactions are subject to a 0% charge (which is very standard). For example, if you spend 200 euros (£173.36), it'll cost you around £5.18 in fees.
Details
Product Overview
| Issuer | Santander |
| Network | Mastercard |
| Annual/monthly fees | £30 per annum (per business, not per card) |
| Balance transfers | 18.9% |
| Balance transfer fee | 3% (min. £5) |
| Purchases | 18.9% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 27.9% |
| Minimum credit limit | £500 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Cashback details | 1% after £1 of monthly spend. Cashback paid Monthly into Card Account. |
| Potential costs | 4.1 ★★★★★ |
| Doing its job | 3.8 ★★★★★ |
| Extras | 5.0 ★★★★★ |
| Overall Finder Score | 3.9 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges, annual card fee plus 1% of the outstanding balance. |
| Annual/monthly fees | £30 per annum (per business, not per card) |
| Balance transfer fee | 3% (min. £5) |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
The Santander Business Cashback Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Santander customer reviews
Santander scored highly in our 2024 customer satisfaction survey, with 94% of its business card customers saying they would recommend the bank to a friend. Several customers noted that the service provided was highly professional and helpful.
On Trustpilot, however, the bank as a whole received a score of only 1.4 out of 5, with some customers citing issues with the Santander banking app, including the blocking of transactions (updated March 2024).
| Trustpilot | Apple App Store | Google Play |
|---|---|---|
|
★★★★★ 1.4 out of 5 |
★★★★★ 4.8 out of 5 |
★★★★★ 3.5 out of 5 |
How does it compare?
Santander's card
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyOther popular business cards
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyRepayment options
You can make manual repayments through Santander's app by logging in to your online banking or over the phone (0800 218 2345). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
How to apply
The Santander Business Cashback Credit Card is only available for small and medium businesses that have a maximum of two directors, owners or partners. Your business must be registered in the UK and you and the other partner or director must also be UK residents.
Unfortunately, you can't apply remotely for this credit card – you'll need to make an appointment with a Santander "business relationship manager" and apply in one of its branches.
When you make the appointment, they'll usually let you know which documents you need to bring in order to be able to complete the application. In general, be prepared to give details of both your business (name, address, registration number, annual turnover and other financial information) and its partners or directors (contact details, proof of identity, address history).
Finally, in order to add extra cardholders to your credit card account, you'll have to complete a form with the cardholder's details. This can be found online on Santander's website and can be returned via mail.
If you’re thinking about getting a business credit card and Santander isn’t for you, take a look at our business credit card comparison page.
Customer support
You can contact customer support via the live chat found on the Santander website or in the app. Chat is available 24/7. Alternaively, you can contact business credit card support on 0845 607 0666 Mon – Fri 7:30am to 9pm and Saturday – 8am to 1pm.
Frequently asked questions
What credit limit will I get with the Santander Business Cashback Credit Card?
If Santander offers you this deal, it will specify a tailored credit limit based on Santander's assessment of your situation and your business. The minimum limit offered on this card is £500, and Santander does not specify a maximum. Once you've had the card for a while and shown Santander you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Santander Business Cashback Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Santander Business Cashback Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 27.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Santander Business Cashback Credit Card abroad?
Non-sterling transactions are subject to a 0% charge. For example, if you spend 200 euros (£165.37), it'll cost you around £0.00 in fees.
Can I get additional Santander Business Cashback Credit Cards for my team?
Yes, you can request up to 3 more. There's no fee for additional cards. Plus, with additional cards, you could earn cashback at a faster rate.
Finder business card ratings
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
To find out more, read our full methodology.
