MBNA Cash Back Business Credit Cards

Review for UK small businesses

The MBNA cash back business credit card offers a very small percentage back on all purchases. As it's so small and comes with an annual fee we do not recommend this card and it would be better to choose something else if you are looking for offers which are very rare in the business credit card market place. The interest rate is also higher than the standard credit card and if you are after a balance transfer free period with this card it's just 9 months. However, if you pay your bill off every month and are looking for (just) 0.5% cash back then you may want to consider this (briefly).

Key Credit Card Features at a Glance

In summary this is a business credit card to avoid as there are better cards on the market but here's an overview of what to expect if you apply and own one of these:

• High interest rate currently at 17.9% APR (standard is 15.9%)
• Ability to make 0% balance transfers although they do attract a 3% service/ handling charge and are only for 9 months whereas the standard card is for 12 months
• An annual fee of £29 for just having the card in your wallet whereas the standard business card is fee free
• 0% interest on purchases for the first 3 months
• 0.5% cashback on all purchases and 1% cashback on fuel purchases
• Free purchase protection insurance and employee misuse insurance
• Ability to manage your account online

To apply online you'll need to have all relevant information about yourself and your business to hand which can take a little while to complete the application form.

What Else Should You Know ?

Watch out if you use the balance transfer facility and then purchase items on the card as the balance transfer amount is paid off first so all subsequent purchases will be charged at the higher interest rate. The MBNA website allows you to manage your account online which we have found to be an excellent facility so if you want an MBNA business credit card it may be wiser to check out their other cards and offers first.

Main Benefits of This Card

Really there are none unless you pay off your bills in full each month then you get the measly 0.5% cashback amount but in any case you can use the balance transfer facility if you have another credit card with a lot of debt built up on it you effectively get a business loan for 12 months at just 3% APR which it itself is an excellent facility - just remember though if you don't pay that off within a year then it's all going to be charged at 17.9% which is on a par with most overdraft facilities from banks.