Remember: if you only make the minimum payment it will take longer and cost more to clear your balance. The minimum payment will be the greater of: £5 or the full balance if less or that month’s interest, any Default Charges, 1/12th of any annual fee and 3% of the remaining balance (excluding any annual fee). This is quite handy if your customers are being slow to pay you. Instead of paying the balance in full every month you can just pay the minimum amount by the required date. More details can be found on our Standards of Lending Practice for Business Customers page. You may wish to take advice from an independent financial advisor, charity (for example, Citizens Advice) or not-for-profit organisation before entering in to a credit agreement with us. We adhere to the Standards of Lending Practice which are monitored and enforced by the LSB. Important documents to readīusiness credit card terms and conditions applicable for Sole Traders, Partnerships (of up to 3 partners), or unincorporated associations (such as Charities, Clubs, Societies or Associations):īusiness credit card cashback terms and conditions (PDF, 131KB)īusiness credit card terms and conditions applicable for Limited Companies, Limited Liability Partnerships, Partnerships (of 4 or more partners) and Charitable Incorporated Organisations:īusiness credit card cashback terms and conditions (PDF, 131KB) Standards of Lending Practice Please read this short summary before you continue with your application. It's important for you to understand how we use and share your information.
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