Barclaycard business credit cards: features, fees and alternatives

If you're comparing business credit cards, Barclaycard is one of the most established names you'll come across. It offers several business payment cards designed for different spending patterns, with varying fees, cashback structures and travel benefits.

This guide focuses on Select Cashback, Barclaycard's main cashback business credit card, covering how it works, what it costs, who it suits and how it compares with Funding Circle.

What does Barclaycard offer for businesses?

Barclaycard offers a range of business payment cards designed for different spending habits and business needs. Select Cashback is its main cashback credit card for businesses that want to earn rewards on everyday spending.

Select Cashback and the business card range

Alongside Select Cashback, Barclaycard also offers the Premium Plus business credit card, which is aimed at businesses that spend more overseas and want additional travel-related benefits.

Barclaycard also offers the Select Charge card for businesses that prefer to pay their balance in full each month. Beyond these, it provides corporate payment solutions, including purchasing cards, fuel cards and virtual payments, for larger organisations and businesses with more complex payment needs.

Key features

Here's how Select Cashback works in practice.

Cashback structure

The card pays 1% cashback, uncapped, on business spend, provided you spend at least £2,000 in a statement month. Spend below £2,000 in a given month, and no cashback is earned for that month.

Interest-free period

Select Cashback offers up to 56 days' interest-free credit on purchases, provided you clear your balance in full by the due date. Miss that, and interest applies at the standard purchase rate, with a representative APR of 25.5% (variable) based on a £1,200 credit limit.

Fees and FX charges (2.99%)

There's no annual fee on Select Cashback, for the account or the card. Purchases abroad carry a 2.99% non-sterling transaction fee. Non-sterling cash withdrawals incur a 3% cash fee (minimum £3) plus the 2.99% non-sterling fee on top.

Spend controls (MyControls)

Account administrators can add business cardholders for free and set their spending limits. MyControls lets administrators manage cardholder spending across multiple categories.

Eligibility and who it suits

To apply for the Barclaycard Select Cashback card, you need to be a business owner or director running a UK-based business, with directors and employees aged 18+. Barclaycard asks for turnover, or projected turnover for new businesses, of between £10,000 and £6.5 million a year. You'll also need a clean recent payment history, and you can't apply if declined for a Barclaycard commercial card in the last six months.

Funding Circle's card, by contrast, is open only to UK-incorporated limited companies, with at least 1 year of trading history and £30,000+ annual turnover. Barclaycard doesn't state a minimum trading period and its turnover threshold starts lower, while Funding Circle asks for more trading history but offers considerably higher credit limits.

How it compares

Barclaycard vs other UK business cards

Against the wider market, Barclaycard Select Cashback's strengths are its uncapped 1% cashback and lack of an annual fee, both competitive for a no-fee card, plus a generous 56-day interest-free window. 

There's a £2,000 monthly threshold to unlock any cashback, and it's less competitive on foreign spend too, with a 2.99% non-sterling fee on the higher end. Businesses whose monthly spend dips below £2,000, or that spend heavily overseas, may find better value elsewhere.

Funding Circle as an alternative

If foreign transaction fees or a lower cashback rate are the sticking point, the Funding Circle Cashback business credit card is worth a look, built around a few clear differences from Barclaycard Select Cashback:

• No foreign transaction fees (Visa's own exchange rates still apply)

• 2% cashback for the first 6 months, up to £2,000, then 1% uncapped, on all spend

• Up to 42 days' interest-free credit when you repay in full by the due date

• £0 annualfees and no monthly fees either

• Free, unlimited Company cards for your team, with individual spend limits and no per-card charges

Eligibility differs too. The Funding Circle Cashback card is open to UK-incorporated limited companies with at least 1 year of trading history and £30,000+ annual turnover, with credit limits of up to £250,000. It's not currently available if you already have Funding Circle FlexiPay or another Funding Circle loan. If you're a limited company, you can check your eligibility without affecting your credit score.

Barclaycard's lower turnover threshold suits some businesses, while Funding Circle's lack of FX fees and higher introductory cashback suits others.

Funding Circle Cashback card vs Barclaycard business credit card

Here's how the two cards stack up side by side, feature for feature.

FAQs

How much cashback does the Barclaycard Select Cashback card offer?

Select Cashback pays 1% cashback, uncapped, on business spend, as long as you spend at least £2,000 in a statement month. No cashback is earned in months below that threshold.

Is there an annual fee?

No. Select Cashback has no annual fee for the account or the card.

Does Barclaycard charge foreign transaction fees?

Yes. Select Cashback charges a 2.99% fee on non-sterling purchases. Non-sterling cash withdrawals cost more: a 3% cash fee (minimum £3) plus the 2.99% non-sterling fee on top.

Am I eligible for the Barclaycard business credit card?

You'll need to be a UK-based business owner or director aged 18 or over, with turnover (or projected turnover for new businesses) of between £10,000 and £6.5 million a year. Approval also depends on your credit history, so check Barclaycard's current criteria before applying.

What's a no-FX-fee alternative?

Funding Circle's business credit card doesn't charge foreign transaction fees, so overseas spend isn't subject to an additional percentage charge. It's open to UK-incorporated limited companies with at least 1 year of trading history and £30,000+ annual turnover.

31/07/26 – While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice.