Barclaycard launches new cashback business credit card
Barclaycard has launched a new market-leading, fee-free cashback business credit card, designed to support small and medium businesses as the easing of restrictions brings optimism for the months ahead.
The Barclaycard Select Cashback credit card is designed to support SMEs with 1% cashback on all purchases – the most competitive offer currently available on a fee-free card. This is in addition to up to 56-day interest-free period, offering additional, shorter term assistance.
Following a year of uncertainty, the new card rewards businesses for spending just as the economy opens back up. This follows Barclaycard research showing that SMEs predict an 8.1% rise in revenue in 2021 – while nearly four in 10 (39%) say they are feeling optimistic about their prospects.
The card is available to all SMEs with a turnover between £10,000 and £6.5m, offering additional support to help businesses get back on their feet after a challenging year. It also enables businesses to save on everyday purchases from leading brands and retailers, like Amazon Business and Avis, by opening up rewards that are exclusive to Barclaycard business card holders.
Barclaycard Select Cashback credit card features:
1% cashback on eligible business spend every month (T&Cs apply)
- No annual account fees or fees for using the card
- Up to 56 days’ interest-free credit when the account balance is paid in full, on time
- Purchase protection and cardholder misuse insurance
- Access to a range of rewards exclusive to Barclaycard business card holders
The new cashback card is the latest in series of products from Barclaycard Payments designed to help small businesses manage their cashflow and everyday expenses, with the lender named Best Business Card Provider by Business Moneyfacts for seven years running.
Ian Reid, managing director of small business cards, Barclaycard Payments, said: “We’ve developed our SME cashback card to support businesses with their immediate spending and cashflow needs as many get back up and running over the weeks ahead.
“We hope by offering 1% cashback on all purchases, and up to 56-days interest-free, merchants will have some much-needed breathing space as they look to emerge from the struggles of the last year, and into a brighter and more prosperous summer.”
Kelly Devine, divisional president, Mastercard UK & Ireland commented, “We are thrilled to be working with Barclaycard to bring the SME cashback card to market, helping those businesses that have been hardest hit by the pandemic. Small businesses are the backbone of the UK economy and it is vitally important that we find ways to help them navigate these challenging times if we are to build back better.”
