Zempler Business Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
- Interest-free each billing period
- Up to 56 days
- Account fee
- £0
- Minimum credit limit
- £100
Our verdict
Currently, you can't apply for the Zempler business credit card on the Zempler website, but you can use this page to compare your options.If you're a Zempler (formerly Cashplus) business customer and have received an invitation for its business credit card, you may be wondering how it scores against the competition.
This is a solid, straightforward business credit card that will do the job just fine, although without giving you any extra perks or rewards. If your business relies heavily on invoices and you need some flexibility to better manage your monthly budget, it may be a good choice.
The rate on purchases is less than competitive, so you really want to avoid carrying a balance from month to month. Provided that you don't, you'll enjoy up to 56 days of 0% interest on your purchases each billing cycle, which is longer than the average.
In the world of business credit cards, the lack of annual fee is quite uncommon and means that if you use this card responsibly you can get monthly credit completely for free, which somewhat makes up for the lack of juicy perks.
As this card is on the Mastercard network it's accepted in more than 40 million locations worldwide. You'll also be able to enjoy access to Priceless Cities experiences.
Pros
- Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
- No annual fee
Cons
- Applicants with low credit scores are unlikely to be eligible
- You may be offered an opening credit limit as low as £100
Details
Product overview
| Issuer | APS Financial Ltd |
| Network | Mastercard |
| Representative APR | 29.9% |
| Annual/monthly fees | £0 |
| Purchases | 29.94% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 39.94% |
| Minimum credit limit | £100 |
| Maximum credit limit | Subject to status: £3,000 |
| Incentive | |
| Potential costs | 7.3Great |
| Doing its job | 7.5Great |
| Extras | 10Excellent |
| Overall Finder Score | 8Great |
Fees and charges
| Minimum monthly payment | 5% or £10 (whichever is greater) |
| Annual/monthly fees | £0 |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £5 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
The Zempler Business 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.
How does it compare?
Zempler Bank's card
Other popular business cards
Approval 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.
Repayment options
You can make manual repayments through Zempler Bank's app by logging in to your online banking or over the phone (0330 024 0924). 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
Unfortunately, as of February 2019 the Zempler Business Credit Card is only available to customers who have received an invitation code from Zempler, either via email or letter. If you have, the online application process should only take a few minutes.
In order to apply successfully, you must be at least 18 and a UK resident. Your business needs to be registered with Companies House and must not have recently received any CCJs (county court judgements).
Once you've completed the form, Zempler will give you an answer immediately.
Frequently asked questions
What credit limit will I get with the Zempler Business Credit Card?
If Zempler Bank offers you this deal, it will specify a tailored credit limit based on Zempler Bank's assessment of your situation and your business. The minimum limit offered on the card is £100, while the maximum is £3,000. Once you've had the card for a while and shown Zempler Bank you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Zempler Business 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 Zempler Business 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 39.94%, which is 34% more than the standard purchase rate (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 Zempler Business Credit Card abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£164.83), it'll cost you around £4.93 in fees.
What is the minimum payment on the Zempler Business Credit Card?
Each month, you must pay at least 5% of your balance at that point or £10.00 – whichever of the 2 figures is greater. So if you had, say, £190.00 outstanding, you'd pay £10.00, and if you had £800.00 outstanding, you'd pay £40.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.
Can I get additional Zempler Business Credit Cards for my team?
Yes. Zempler Bank doesn't specify a maximum number of cards you can request. There's no fee for additional cards.
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