The no-fee cards will provide customers with an extended interest-free credit period of up to 116 days for all purchases made at the initial participating companies – Travis Perkins and Toolstation. Customers will also benefit from up to 56 days’ interest-free credit on purchases made in all other retailers where the card is accepted.
The launch comes at a time when Barclaycard research finds that a fifth (20%) of small businesses cite cash flow as one of the biggest day-to-day obstacles of business growth, second only to the current economic and political uncertainty.
Working capital ranked as a greater concern than other common hurdles, which included high overhead costs (19%) and worries around customer contracts (18%). This new range of business credit cards is another example of Barclaycard’s commitment to helping customers tackle the challenges that come from working capital management, according to the press release.
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