This is our review of the Barclaycard Select Cashback credit card for sole traders and small businesses.
Key facts: No annual fee
The representative APR is 21.9% variable.
About the Barclaycard Select Cashback credit card
Slightly oddly for Head for Points, the Barclaycard Select Cashback credit card does not offer you any miles or points when you use it. Let’s clear this up from the outset!
The reason we feature it is that it is, in our view, the best free Visa or Mastercard for a small business.
Whilst we recommend American Express Business Platinum, American Express Business Gold and the British Airways Accelerating Business cards for their ability to earn you generous travel rewards, American Express acceptance is well below 100% in the B2B sector.
You will need to get a Visa or Mastercard to use alongside any American Express card you get. Barclaycard Select Cashback is free and has a generous cashback reward.
What is the Barclaycard Select Cashback sign-up bonus?
There is no sign up bonus on this card.
What are the conditions of applying?
As well as the standard age and residency restrictions, your business turnover must be over £10,000 per year.
If you are a start-up, you are welcome to apply if your business plan shows expected turnover of £10,000+ per year.
Sole traders are welcome to apply. The card is not restricted to Limited Companies.
What is the Barclaycard Select Cashback annual fee?
There is no annual fee.
What do I earn per £1 spent on the card?
You earn 1% cashback on virtually all spending charged to the card.
You are paid your cashback each month, via a credit to your card statement.
Any other benefits?
Barclaycard runs a special programme for its Business credit and charge card holders called Business Rewards.
You can find full details on this page of the Barclays website.
It offers a variety of discounts and cashback deals for customers. These currently include, for example, 15% off your first £100+ purchase at Amazon Business and 15% off business stationery at Ryman.
Is this a good card to use when travelling?
It’s not ideal, as Barclaycard Select Cashback charges a 2.99% foreign exchange fee on non-Sterling transactions.
However, you will receive your standard 1% cashback which takes the net cost down to 1.99%.
You will pay the same 2.99% fee if you use any of the American Express Business cards that we cover.
The Barclaycard Select Cashback credit card is, perhaps surprisingly, an aggressively good product from Barclays.
With no annual fee and 1% cashback on virtually all your spending, paid monthly, there is nothing to dislike. Even if you are considering getting American Express Business Platinum, Business Gold or British Airways Accelerating Business due to their generous rewards, this card is useful for places which do not accept American Express.
The application for the Barclaycard Select Cashback credit card can be found here.
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Card Offers’ link in the menu bar at the top of the page.)
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.