HSBC business credit card: Commercial Card fees, eligibility and alternatives

HSBC's main business credit card is the Commercial Card, which is for UK limited companies with an HSBC Business Current Account. The card has a 22% representative APR (variable), no cashback and a £32 annual fee per card after the first year, so it suits existing HSBC customers who just want a simple credit card.

We explore the ins and outs of the HSBC Commercial Card, including eligibility criteria and how to apply, plus alternatives you could consider.

Worth knowing: HSBC's 'up to 56 days' interest-free period only applies on the minimum-payment Direct Debit, and only if you clear the rest of the balance within 25 days of your statement. On the full-balance Direct Debit it's up to 38 days, because HSBC collects the money seven days after the statement date. (HSBC UK, checked on 12 October 2026.)

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What business credit cards does HSBC offer?

HSBC UK's business credit card for everyday spending is the Commercial Card. It also offers a Corporate Card, which it describes as 'a flexible solution for larger businesses', plus Purchasing and Virtual Cards for controlling supplier payments.

• Commercial Card is a Visa credit card for day-to-day business spending. This is the card we'll be focusing on in this article.
• Corporate Card is for larger businesses. It comes in eight currencies, lets you set spending limits for each cardholder and reports through HSBC's MiVision platform. You arrange it through a relationship manager. Our guide to corporate credit cards explains how they differ from standard business cards.
• Purchasing Card and Virtual Card are for paying suppliers with tighter controls, or without issuing physical cards to employees.
• Business Debit Card and Business Deposit Card aren't credit cards. The debit card spends from your HSBC current account and the deposit card is for paying in cash and cheques.

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HSBC Commercial Card at a glance

Below are the Commercial Card's main terms and features, checked on HSBC UK's website on 12 October 2026:

• Representative APR: 22% (variable), based on an assumed £1,200 credit limit
• Interest rate: 15.9% a year (variable) on purchases and cash advances
• Annual fee: none in the first year, then £32 per card, employee cards included
• Interest-free period: up to 56 days on the minimum-payment Direct Debit, up to 38 days on the full-balance Direct Debit
• Credit limit: from £500 per card, with the maximum subject to status
• Cashback or points: none
• Minimum payment: interest and fees since your last statement, plus 1.5% of the balance, and at least £5
• Payments: Visa, contactless up to £100, Apple Pay, Google Pay and Samsung Pay
• Fraud cover: zero liability for fraudulent transactions, plus misuse protection when two or more employees hold cards

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What does the HSBC Commercial Card cost?

If you clear the balance in full each month, the Commercial Card costs nothing in year one and £32 per card a year after that. If you carry a balance, HSBC charges 15.9% a year (variable), which works out at a 22% representative APR.

The other charges to plan for:

• Annual fee: £32 per card from the second year. With three cardholders, that's £96 a year.
• Cash withdrawals: a 2.99% handling fee, minimum £3. Cardholders can take out up to £500 a day in cash if the business allows it.
• Spending abroad: a 2.99% non-sterling transaction fee. Withdraw foreign currency and you pay this on top of the cash fee.
• Late payment: £12 if you miss your payment date, and interest is charged daily until the balance is paid. If a repayment looks difficult, HSBC asks you to contact it to talk through your options.

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Why do you get 56 days on one Direct Debit and 38 on the other?

How long you get interest-free depends on which Direct Debit you choose. On the full-balance Direct Debit, HSBC takes the whole balance seven days after the statement date, so the longest gap between buying something and paying for it is 38 days.

On the minimum-payment Direct Debit, HSBC only collects the minimum. You get up to 56 days interest-free on purchases if you pay off the rest of the balance within 25 days of the statement. If you don't, interest is charged. You can switch between the two options at any time, free of charge.

HSBC doesn't advertise a 0% introductory offer on the Commercial Card, so the interest-free period is the way to avoid interest.

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Does the HSBC Commercial Card offer cashback or rewards?

The Commercial Card doesn't pay cashback or reward points. Instead, HSBC Business Offers gives cardholders discounts with selected brands, which change over time.

If earning money back on your spending matters to your company, the NatWest, Lloyds, Barclaycard and iwoca cards in the comparison below all pay some cashback, each with its own conditions.

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Who can apply for an HSBC business credit card?

To apply, your company needs an HSBC Business Current Account. Applicants must be 18 or over and live in the UK, and every application is subject to a credit check.

If your company banks elsewhere, you'd need to open an HSBC business current account first. HSBC's product page doesn't publish a minimum turnover or trading history for the Commercial Card.

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Do directors have to give a personal guarantee?

HSBC's product page doesn't say whether directors must personally guarantee the Commercial Card. Its card terms do cover cases where 'a personal guarantee has been provided for this agreement', so ask HSBC before you apply.

A personal guarantee makes the guarantor personally responsible for the company's card balance if the company can't repay it. Providers handle this differently: Lloyds says a guarantee 'may be needed' for limited companies, and the iwoca Credit Card needs one. Our guide to the personal guarantee on a business credit card explains what you're signing.

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Will applying affect your credit score?

HSBC says the Commercial Card is subject to a credit check, but its product page doesn't say whether that's a hard or soft search. HSBC's online eligibility checker gives you an indication of whether you're likely to be accepted before you apply.

Once you have a card, using it and repaying on time is one way to build your company's credit history.

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How to apply for the HSBC Commercial Card

Existing HSBC customers apply online as the Primary User in Business Internet Banking. If you're new to HSBC or would rather talk it through, call HSBC on 0800 731 8918 (Monday to Friday 8am to 8pm, Saturday 8am to 2pm).

1. Use HSBC's eligibility checker to get an indication first.
2. Log on to Business Internet Banking as the Primary User and open the Commercial Card application.
3. Have the directors' names and home addresses ready, plus your company's Companies House registration details.
4. Check the cardholder names and business details, then submit.
5. Wait for HSBC's decision. HSBC doesn't publish a timescale for decisions or card delivery.

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Are your purchases protected? Section 75 and chargeback

Section 75 generally doesn't cover a limited company's business card. HSBC's own card terms say the agreement is regulated by the Consumer Credit Act only for unincorporated businesses and small partnerships borrowing under £25,000, so a limited company's Commercial Card falls outside it.

If a supplier doesn't deliver or goes bust, the usual route is a chargeback: you ask HSBC to reverse the payment through Visa's dispute process. Chargeback is a card-scheme process rather than a legal right like Section 75, so raise it quickly and keep your invoices and emails.

The iwoca Credit Card is in the same position. It's a business card, so it doesn't fall under Section 75 either.

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HSBC vs other UK business credit cards

Of the five cards we've compared below, HSBC's has the second-lowest representative APR, charges an annual fee after year one, pays no cashback and requires an HSBC account to apply. We compared representative APR, annual fee, cashback, account requirement and personal guarantee, using each provider's own website details on 12 October 2026.

HSBC appears first in the table because it's the card we're primarily reviewing on this page, and the rest are alphabetical. Representative APRs only matter if you carry a balance, and the rate you're offered may differ, based on your circumstances. HSBC, NatWest, Lloyds and Barclaycard base theirs on an assumed £1,200 limit.

Spending abroad costs extra on most of these cards: HSBC and Barclaycard charge 2.99%, NatWest and Lloyds charge 2.95%, and the iwoca Credit Card has no FX fee.

Sources checked on lenders' website product pages on 12 October 2026.

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When might the HSBC Commercial Card be the suitable choice?

The Commercial Card is a good fit if your company already banks with HSBC and wants its card under the same login, for ease. It's less suited to companies that bank elsewhere, want cashback or spend a lot in other currencies.

HSBC is likely the better choice if:

• you already have an HSBC Business Current Account and want everything in one place
• you sometimes carry a balance: its 22% representative APR is lower than NatWest, Barclaycard and the iwoca Credit Card, though Lloyds is lower still at 15.95%
• you need to withdraw cash, which the iwoca Credit Card can't currently do
• you expect to need a Corporate Card programme later, with multi-currency cards and MiVision reporting

An alternative business credit card may suit you better if:

• you don't bank with HSBC and don't want to open an account just for a card
• you want cashback on everyday spending
• you regularly pay in foreign currencies, where HSBC charges 2.99%
• you'll have several cardholders and want to avoid a fee for each card

The iwoca Credit Card is one option for that second group. It pays 1% cashback on all spending, has no FX, annual or late payment fees and gives up to 42 days interest-free when you repay in full and on time. Its representative APR is higher, at 35.40% (variable), so it works best when you clear the balance each month.

You apply as a director of a UK limited company and you'll need to provide a personal guarantee.

Still weighing up your options? Compare the best business credit cards for UK businesses.

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Managing your HSBC Commercial Card

You manage the Commercial Card in HSBC's Business Internet Banking or the HSBC UK Business Banking app. Repayments are taken by Direct Debit from your HSBC Business Current Account each month, either the full balance or the minimum, and you can't cancel the Direct Debit.

Here's an overview of what you need to know:

• App and online banking: Primary Users can view the PIN, freeze or unfreeze a card, report it lost or stolen and replace a damaged card. Up to six years of statements are available online.
• Extra repayments: you can pay more at any time to reduce interest or free up credit.
• Employee cards: if you're the Primary User, you can apply for additional Commercial Cards online. They're free for the first year too.
• Logging in: use the log-on link on HSBC's Commercial Card page.
• Help or closing the card: use the chat in the app or Business Internet Banking, or call the number on the back of your card.