Maximise your Avios, air miles and hotel points

NOW WITH 2% CASHBACK: the Barclaycard Select Cashback credit card for SME’s and sole traders

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Until 18th July 2022 there is an astonishing special offer on the two Barclaycard Avios Mastercard credit cards. You get 50,000 Avios on the Avios Plus Mastercard and 10,000 Avios on the free Avios Mastercard. You can apply here. We strongly recommend getting the Avios Plus card whilst this offer is running.

Today I want to look at the benefits of the Barclaycard Select Cashback credit card for businesses.

As a special offer, you will receive 2% cashback – double the standard rate – for your first three months as long as you apply by 31st March. This is the first time that I have ever seen a promotion on this card.

Let me answer the obvious question first. Why are we covering it, given that it doesn’t earn you any points or miles?

(The cynical answer, of course, is that Barclays will pay us if you apply, which is true. As part of our relationship with Barclays Premier we now have access to all Barclaycard products. As you should know, however, we only promote products which genuinely offer value. You won’t see any other Barclaycard products on HfP for now.)

Why would you get a cashback small business Mastercard?

There is, at the moment, a gap in the market for small business miles and points cards.

You can apply for American Express Business Platinum, American Express Business Gold and British Airways Accelerating Business, but Amex acceptance is lower in the B2B market than in the consumer market. You will need a Visa or Mastercard as well.

Our recommended alternative is the Capital On Tap Business Rewards Visa card. This earns points worth an impressive 1 Avios per £1 spent. We are currently offering our readers an exclusive sign-up bonus on this card which converts into 30,000 Avios (details here), but not everyone can apply.

At present, Capital On Tap is only accepting Limited Companies and LLPs. You cannot get the 30,000 Avios on this card if you are a sole trader or in a partnership.

This leads to the question ‘What is the best business Visa or Mastercard for a sole trader to use alongside a Business Amex?’.

The answer is probably a card which is:

  • free
  • offers 1% cashback on virtually all of your spending, and currently 2% for the first three months

…. which is what you get with the Barclaycard Select Cashback credit card.

Key link: Barclaycard Select Cashback credit card application form

The representative APR is 21.9% variable.

Barclaycard select cashback credit card review

Here are the key facts about the Barclaycard Select Cashback 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.

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.

If you apply by 31st March, you will receive 2% cashback for the first three months.

You are paid your cashback each month, via a credit to your card statement. There is no cap to the cashback you can earn.

Review: the Barclaycard Select Cashback credit card

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, 10% of taxi rides booked with FREE NOW, 12% off Heathrow Express 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.

Conclusion

The Barclaycard Select Cashback credit card is, perhaps surprisingly, an aggressively good product from Barclays.

With no annual fee and 1% cashback (2% for your first three months) 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.

Full details, and the application form, for the Barclaycard Select Cashback credit card can be found here.

The application deadline to receive the offer of 2% cashback for your first three months is 31st March.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibly to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.

Comments (18)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • memesweeper says:

    Anyone know if this a personal card, available to directors/owners, or a card where liability rests with the company?

    • Rob says:

      I imagine joint or none – I don’t know of any cards, except Amex Corporate cards (which require £5m turnover) where the liability sits solely with the company, and even then I think there are clawback provisions to protect Amex if the employee goes rogue and the company won’t pay.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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