Jump to main content of pageaccessibility informationSitemap
16 Nov 2019

Go Direct Personal Finance News  2009

Business charge cards, what’s on offer ?

In a difficult economic climate, it’s never been as important for businesses to keep a handle on expenses.

Managing everyday expenses is an important part of a healthy business, so is cost reduction.

Recent research by Business Moneyfacts has revealed that in the past five years charge card fees have risen on average by 54%, cash withdrawal charges have also risen over this period.

 

Costs

Number of cards offering incentives

 

Average yearly fee

Average cash w/d fee

Savings on travel

Savings on hotels

Savings on car hire

Travel delay cover

Total charge cards

Today

£63

2.69%

10

13

11

20

34

1 Year Ago

£51

2.64%

7

10

9

17

31

3 Years Ago

£50

2.57%

7

11

10

17

31

5 Years Ago

£41

2.42%

10

14

13

18

33

Rachel Springall, spokesperson for Business Moneyfacts, said:

“Charge card flexibility is key to a business, so is the cost.

“Card fees can be as high as £300 a year, depending on desirable benefits and discounts.

“Businesses may be surprised at some of the savings they can achieve, so it’s important they look at all the areas a charge card can cover.

“While the majority of charge cards available on the market today offer some useful incentives, businesses need to decide whether they can justify the expense of a yearly fee in return.”

Business charge card selection

 

Yearly fee

Cash w/d fee

Savings on travel

Savings on hotels

Reward scheme

Travel delay cover

American Express Gold Business (Amex)

£95

3.00%

Yes

Yes

Yes

Yes

Barclaycard Corporate Gold Charge (Visa)

£32

3.00%

No

No

No

Yes

*Lloyds TSB Business Charge Card (Visa)

£32

2.50%

No

No

No

No

*The Co-operative Bank Business Charge Card (Visa)

£24

2.00%

No

No

No

No

Business turnover limits apply to all cards listed, foreign charges and interest can apply on top of yearly fee. *Account required with issuer to obtain card.

 

Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

Mortgage Guide | Remortgage Guide | Life Insurance Quote | Mortgage Life Insurance | Decreasing Life Insurance | Home Insurance Quote | Conveyancing Quote | Mortgage Comparison | Free Mortgage Advice | Mortgage Rates | Mortgage Payment Calculator | Mortgage Protection | Best Mortgage | Mortgage Lenders | Income Protection | Remortgage Lenders | Gas and Electric | Remortgage Calculator