If you clear the balance monthly, Funding Circle’s business credit card earns cashback with no annual fee. But the 34.9% representative APR — which we verified against Funding Circle’s product page — is one of the higher rates among UK business credit cards.
Our Verdict on the Funding Circle Business Credit Card
Choose this card if you clear the balance monthly on £2,500+ spend — you’ll earn £300+ cashback annually at no cost. We ran the numbers: if you sometimes carry balances, especially on large invoices, the 34.9% interest erases the cashback quickly.
If you’re comparing Funding Circle to Tide, stop: Tide’s card is actually powered by Capital on Tap, so you’re comparing against Capital on Tap, not Tide.
Funding Circle Cashback Business Credit Card
Key Pros and Cons
- No annual fee — cashback starts from zero fixed cost
- 2% cashback for first 6 months (capped at £2k earned)
- 1% cashback thereafter, uncapped
- No foreign transaction fees — 0% on non-sterling spend
- No business current account required
- Straightforward cashback — no points conversion or redemption friction
- 34.9% representative APR — one of the higher rates in this market
- Cashback only works financially if you clear the balance monthly
- 2% introductory rate capped at £2,000 cashback earned
- Lower credit limits than Capital on Tap
- Sole trader eligibility not confirmed on public pages
Who the Card Is Best For
Choose this if you have predictable monthly spend and always clear by the due date. Set a direct debit on payday and the cashback accumulates quietly.
Avoid it if your cash flow is uneven. When a client pays late and you’re still waiting on Friday afternoon, that carried balance erases months of cashback gains. That’s the real trade-off.
Funding Circle Eligibility and Application
Who Can Apply
You must be a limited company with at least one year of trading history and £30,000+ turnover. Sole traders aren’t confirmed on public pages; check fundingcircle.com or see our sole trader credit cards guide.
What You Need to Apply
Apply online; you’ll get a decision within a few working days. Have your Companies House number, business address, and director details ready.
Rewards, Cashback and Points Value
How Funding Circle Rewards Work
You get 2% cashback for the first six months (capped at £2,000 earned), then 1% thereafter with no cap. At £3,000/month, that’s £360/year after the intro period. Zero annual fee, so cashback is net positive if you clear the balance.
Free vs Pro Rewards Comparison
Choose Funding Circle if you want simplicity: one tier, no paid upgrade. Everyone gets the same 2%-then-1% cashback with no points conversion friction. We calculated that its first-year return beats Capital on Tap’s 1%-from-day-one at typical spend levels.
Fees, APR and Repayment Terms
Annual Fees and Representative APR
Expect no annual fee, but the 34.9% APR is one of the higher rates among UK business credit cards (Barclaycard: 25.5%, Lloyds: 15.95%).
We compared the 0% foreign transaction fee against other cards — most charge 2.75%–2.99%. That saving alone could exceed your cashback if you pay overseas suppliers regularly.
When Interest Can Outweigh Cashback
Understand the trade-off: at £3,000 outstanding, one month’s interest is around £87 — erasing nearly three months of 1% cashback. Carrying a balance defeats the card’s value.
| Monthly spend | Annual cashback (1% after intro) | Cost of carrying balance for 1 month | Net if you carry 1 month per quarter |
|---|---|---|---|
| £1,500/month | £180/year | £44 per carried month | +£4/year. Barely positive. One extra carried month tips you negative. |
| £3,000/month | £360/year | £87 per carried month | +£12/year. Negligible net benefit. |
| £5,000/month | £600/year | £145 per carried month | +£20/year. Still barely worth it if you carry at all. |
If you spend £3,000/month and carry a balance four times per year, the £348 interest cost nearly offsets your £360 annual cashback. Year one is better at £540 (with 2% intro rate), but margins tighten from year two.
If you carry a balance more than once per quarter, Lloyds (15.95%) or Barclaycard (25.5%) will cost you less than this card’s interest. Check our main comparison page for alternatives.
Card Features and Overseas Spending
Employee Cards and Expense Management
You get unlimited employee cards at no extra cost. When your team is chasing receipts for client lunches at month-end, having everything on company cards saves your accountant reconciling personal expenses.
The catch is the expense management. It’s basic compared to Moss or Pleo: adequate for quarter-end reconciliation but not for approval workflows.
Visa Acceptance and Foreign Transactions
The 0% FX fee is verified against Funding Circle’s product page (March 2026). When you’re sending payment to a European supplier for £3,000 of stock, that saves £82–£90 versus a card charging 2.75%–2.99%. That saving alone matters more than the cashback for regular importers.
If you’re sent £5,000 to a supplier who fails to deliver, you can’t use Section 75 protection (it doesn’t apply to business cards). You’re limited to Mastercard chargeback, not statutory buyer protection.
Funding Circle Customer Reviews
If you’re checking reviews, note that most Trustpilot feedback relates to lending, not the card specifically. Where card reviews do exist, users praise cashback and simplicity but criticise interest costs on carried balances.
Your accountant searching through mixed lending and card reviews at quarter-end won’t find a clear consensus on the card alone.
FAQs
Is the Funding Circle cashback card worth it?
Only if you clear the balance every month. At £3,000/month spend, you earn £360/year in cashback with no annual fee. If you carry a balance at 34.9% APR, the interest erases the cashback within one or two months of carried debt.
What happens after the 2% introductory cashback period?
After six months, the cashback rate drops to 1% with no cap. The 2% introductory rate is capped at £2,000 total cashback earned. Most businesses won’t hit that cap during the introductory period.
Can sole traders get the Funding Circle credit card?
Funding Circle doesn’t confirm sole trader eligibility on its public product pages. The card is available to limited companies with at least one year of trading history and £30,000+ turnover. Check fundingcircle.com for current eligibility.
How does Funding Circle’s cashback compare to Capital on Tap?
Funding Circle offers 2% for six months then 1% ongoing. Capital on Tap offers 1% from day one. Funding Circle has the stronger first-year return, but Capital on Tap offers higher credit limits and a lower floor APR (though the average rate is higher).
Do I need a business bank account to get the Funding Circle card?
No. The Funding Circle cashback card doesn’t require a business current account with any specific provider.
What is the credit limit on the Funding Circle card?
Credit limits go up to £250,000 depending on your business profile. Check current terms at fundingcircle.com, as your offered limit depends on your company’s trading history and financials.
Alternatives to Funding Circle
Capital on Tap Business Credit Card
Santander Business Cashback Credit Card
Methodology and Disclosure
How we reviewed Funding Circle Credit Card
What we assessed. We evaluated Funding Circle Credit Card on pricing, contract terms, features, and eligibility. These are the factors that matter most to UK small businesses considering this provider.
Data sources. Funding Circle Credit Card’s pricing page, terms, and product docs were checked directly in April 2026. No comparison sites, no press releases, no affiliate material. FCA register cross-checked for regulatory status.
Update cadence. We re-verify this page at least monthly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. We have no affiliate relationship with Funding Circle Credit Card, see our editorial policy.