Lloyds Bank business credit card: costs, cashback and alternatives

Lloyds Bank's Business Credit Card is for limited companies that have a Lloyds Business Current Account. It charges a 15.95% representative APR (variable), gives up to 56 days interest-free, and has no annual fee for 12 months. Cashback of 1% on fuel and 0.5% on other spending starts once the account spends £2,000 in a billing cycle.

The Lloyds card is built around the bank relationship. It works best for companies that already bank with Lloyds and put enough on their cards to reach the cashback threshold every month. Companies that bank elsewhere, or spend less on cards, can look at cards that don't need a new bank account and pay cashback on every pound.

‍

The Lloyds Business Credit Card at a glance

Lloyds Bank offers a business credit card, the Business Credit Card, a Mastercard for companies with a Lloyds Business Current Account. It comes with a credit limit of £1,000 to £25,000 and up to 56 days interest-free on purchases when you pay the balance in full and on time.

Every figure below comes from Lloyds' own pages:

Source: Lloyds Bank Business Credit Card, checked on 12 October 2026. Rates can change, so check the page before you apply.

‍

What the Lloyds business credit card costs

Purchases and cash withdrawals are both charged at 14.9% a year (variable) if you don't clear the balance. Cash, foreign spending, and late payments also carry fees.

You won't pay interest on purchases if you pay the full statement balance by the due date. Cash is different: interest runs from the day the withdrawal reaches your account, and there's a handling fee on top. Lloyds' fees and charges are:

The minimum monthly payment is the higher of £5 or the total of that month's interest, any default charges, 1/12 of the annual fees and 1% of the balance. Paying only the minimum means the balance takes longer to clear and costs more in interest.

‍

Lloyds cashback starts once you spend £2,000 in a billing cycle

Lloyds pays 1% cashback on fuel and EV charging and 0.5% on other purchases, but only in a billing cycle where the whole card account spends at least £2,000. In a cycle below that, the account earns no cashback at all.

The £2,000 threshold applies per card account, so spending on every cardholder's card counts towards it. Cashback is credited to the card account monthly, and it doesn't apply to cash withdrawals, balance transfers, money transfers, cryptocurrency, or gambling.

Here's what that means over a year at three steady levels of monthly card spending, using Lloyds' published rates:

iwoca calculation from the rates on the Lloyds Business Credit Card page, checked on 12 October 2026. It assumes the same spending every month.

At each of these levels, one cardholder spends more than £6,000 a year, so the £32 annual fee would be waived.

‍

Buyers Protection, travel insurance and chargeback come with the card

Lloyds includes Buyers Protection Insurance for 90 days against theft or accidental damage, business travel insurance when the card pays for at least half of a trip, and chargeback for disputed payments.

• Buyers Protection Insurance: covers new purchases of £50 or more against theft or accidental damage for 90 days, up to £2,500 per claim and £5,000 per card user a year.
• Travel insurance: covers the cardholder, their family, and up to three colleagues travelling together, as long as at least 50% of the total cost of the business trip went on a Lloyds business card.
• Chargeback: if goods don't arrive, aren't as described, or you're billed the wrong amount, Lloyds can try to reverse the payment through a chargeback. You raise a dispute by email to Business Card Services.

Sources: Lloyds existing business card customers and travel insurance pages, checked on 12 October 2026.

‍

Lloyds also offers a charge card and corporate cards

Lloyds' Business Charge Card gives up to 42 days interest-free but must be paid in full each month, and its Corporate Cards are for companies with turnover above £3 million.

The choice comes down to how you want to repay:

Sources: Lloyds business cards and Business Charge Card pages, checked on 12 October 2026.

The charge card has the same £32 fee rules and the same cashback threshold as the credit card, and Lloyds lets you issue as many charge cards to employees as you need.

‍

Who can get a Lloyds business credit card

You need a Lloyds Business Current Account and must be a director aged 18 or over with authority to borrow for the company. Lloyds says a guarantee may be needed for limited companies.

Lloyds lists these conditions:

• You hold a Lloyds Business Current Account.
• You're a company director with authority to borrow on behalf of the business.
• You're 18 or older.
• You'll use the card only for business.

If lending is agreed, Lloyds runs a credit check on you and on the company. Lloyds' card page says: 'A guarantee may be needed for Limited Companies and Limited Liability Partnerships.' Ask Lloyds early whether it will want one from you, and read up on the personal guarantee on a business card before you sign.

If your company doesn't bank with Lloyds, you'd need to open a Business Current Account first. Lloyds says new account holders can then apply online for up to £5,000 across a Business Overdraft or a Business Credit Card, assessed as a separate application.

‍

How the Lloyds card compares with other business credit cards

The biggest differences between these business credit cards are what you pay if you carry a balance, what you earn back, and whether you need to bank with the card provider.

The table puts the Lloyds card first, because it's the card this page reviews, then lists the others alphabetically. Representative APRs matter most if you carry a balance from month to month, and the rate you're offered may differ. On most business credit cards, including the Lloyds card and the iwoca Credit Card, purchases are interest-free when you pay the full statement balance on time.

Sources, checked on 12 October 2026: Lloyds, Barclaycard, HSBC, iwoca (section below), Metro Bank, NatWest and Santander.

Spending abroad adds to the cost on some cards: Lloyds and NatWest charge 2.95% on non-sterling transactions.

‍

{{business-credit-cards-blog-cta="/components"}}

‍

The iwoca Credit Card: no Lloyds account needed

The iwoca Credit Card, iwoca's own business credit card, pays 1% cashback on all spending with no minimum spend. It has no annual, FX, or late payment fees, and you don't need to move your bank account to get it.

That makes a difference for two kinds of company: those that bank elsewhere and don't want to open a Lloyds account for a card, and those whose card spending doesn't reach £2,000 every month. Here's how the iwoca Credit Card works:

• 1% cashback on every pound: it's added to your account automatically and reduces your balance. There's no threshold and no category list, so fuel, software, and supplier bills all earn the same 1%.
• Up to 42 days interest-free: a 30-day billing cycle plus 12 days to pay. Repay the statement balance in full and on time and you pay no interest.
• A credit limit of up to £250,000: and spending abroad earns the same 1% cashback as spending in pounds.
• Flexible repayments: if you'd rather spread a bill, pay at least 10% of the balance or £100, whichever is higher. Interest rates start at 14.99% a year, with a 35.40% representative APR (variable).
• A soft search when you apply: applying online takes about five minutes and doesn't affect your personal credit score. You manage spending and repayments in the iwoca app.

On the same spending as the Lloyds example above, the iwoca Credit Card would earn:

‍

How to apply for a Lloyds business credit card

Existing Lloyds Business customers apply by logging in to Online for Business or the Business Banking app. Companies that don't bank with Lloyds need to open a Business Current Account first.

1. Log in to Online for Business, or open the Lloyds Business Banking app.
2. Choose the Business Credit Card and check whether your business can apply.
3. Give the details Lloyds asks for about you and the company, and the credit limit you'd like.
4. Lloyds carries out an affordability assessment and a credit check on you and the company.
5. If Lloyds asks for a guarantee, read it carefully before you sign.

Lloyds doesn't publish how long a decision or the card takes to arrive. If your application is declined, Lloyds has a lending appeals process.

‍

How to pay and manage your Lloyds business credit card

You can pay by Direct Debit from your Lloyds Business Current Account, online in Internet Banking, by cheque or in a branch. You report a lost or stolen card in the app or by calling 0345 602 2042.

• Direct Debit: Lloyds takes the payment no earlier than 25 days after the statement date.
• Online: log in to Internet Banking, choose 'Transfers and Payments' and follow the steps.
• Cheque or branch: you can also send a cheque or pay in a branch.
• Cardholders and limits: full access users of Online for Business can add or remove cardholders and change limits. You can also move your credit limit between cards in the Business Banking app.
• Lost or stolen card: in the app, go to 'Support', then 'Message us'. Or call Business Card Services on 0345 602 2042, or +44 1733 347 338 from abroad.

Sources: Lloyds existing business card customers and lost or stolen business card pages, checked on 12 October 2026.

‍

Lloyds business credit card FAQs

Does applying for a Lloyds business credit card affect your credit score?

Lloyds runs a credit assessment that may include a bureau check, and says your rating shouldn't significantly deteriorate unless your history shows multiple applications. Lenders usually see occasional enquiries as a normal part of running a business.

Paying any business card on time can support your business credit score over time.

‍

Can you use the Lloyds business credit card abroad?

You can use the Lloyds Business Credit Card anywhere that accepts Mastercard, but non-sterling transactions cost 2.95%. If you withdraw cash abroad, the 2.5% cash fee applies on top.

‍

Is the Lloyds business credit card a Visa or Mastercard?

The Lloyds Business Credit Card is a Mastercard, and it works with Apple Pay and Google Pay.