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Capital On Tap Business Rewards Credit Card *

By:  Kate Anderson | Updated: 23rd November 2021.

Capital On Tap business cards are designed to help small businesses gain access to funding. And the Business Rewards Credit Card does this – but with rewards on top. With the ability to earn cashback or Avios, as well as no charges for non-sterling transactions or ATM withdrawals, and a credit transfer facility, this card has the whole package. Note that this card is now only available to limited companies.

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Great for: Rewards on business spend
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Capital On Tap Business Rewards Credit Card *

Capital on Tap Business Rewards Credit Card
Apply Now!

On Capital On Tap's Secure Website

* Affiliate partner

What makes Capital on Tap business credit cards stand out is their facility to transfer cash fee free directly to your high street bank account. And with the Business Rewards card, not only can limited companies benefit from this easy source of short-term funding, but you can also earn yourself rewards. The card offers 1% cashback or 1 Avios point for every £1 spent, and you stand to receive 10,000 bonus points if you spend £5,000 in the first three months. However, it’s important to be aware that the card comes with an annual fee of £99.

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 1% cashback or 1 Avios point for every £1 of card spend
  • Welcome award of 10,000 bonus points or 10,000 Avios when you spend £5,000 in the first 3 months
  • Ability to make fee-free cash transfers to your bank account
  • No foreign exchange or ATM withdrawals fees
  • Up to 20 free supplementary cards
  • Available to limited companies

REPRESENTATIVE EXAMPLE

Representative 22.9% APR (variable)
Purchase rate 22.9% p.a. (variable)
Assumed credit limit £1,200
Annual fee £99

* This is an offer from one of our affiliate partners. For more information on why and how we work with partners, click here.

what we like

  • 1% cashback or 1 Avios point for every £1 of card spend
  • Welcome award of 10,000 bonus points or 10,000 Avios when you spend £5,000 in the first 3 months
  • No foreign exchange or ATM withdrawals fees
  • ANNUAL FEE:

    £99
  • REPRESENTATIVE APR:

    22.9%
  • INTRO OFFER:

    10,000 bonus points or 10,000 Avios when you spend £5,000 in the first 3 months

KEY SCORES:

  • 5/5 Perks
  • 2/5Fees
  • 4/5APR

HIGHLIGHTS

  • 1% cashback or 1 Avios point for every £1 of card spend
  • Welcome award of 10,000 bonus points or 10,000 Avios when you spend £5,000 in the first 3 months
  • Ability to make fee-free cash transfers to your bank account
  • No foreign exchange or ATM withdrawals fees
  • Up to 20 free supplementary cards
  • Available to limited companies

REPRESENTATIVE EXAMPLE

Representative 22.9% APR (variable)
Purchase rate 22.9% p.a. (variable)
Assumed credit limit £1,200
Annual fee £99

* This is an offer from one of our affiliate partners. For more information on why and how we work with partners, click here.

Our bottom line

What makes Capital on Tap business credit cards stand out is their facility to transfer cash fee-free directly to your limited company’s high street bank account. And with the Business Rewards Credit Card, not only can you benefit from this easy source of short-term funding, but you can also earn yourself rewards. The card offers 1% cashback or 1 Avios point for every £1 spent – and you stand to receive 10,000 bonus points if you spend £5,000 in the first 3 months. However, it’s important to be aware that the card comes with an annual fee of £99.

What’s great about this card

Access to capital – If you are a small business then there is one thing you are almost certainly going to need – access to capital. Capital On Tap business credit cards stands out because not only do they provide access to spending power when you use the card, but they also allow you to send funds straight to your high street bank account. This offers a level of flexibility that other business credit cards may not have. However, bear in mind this is best used for short-term funding. The transfer itself may be fee-free, but the funds are not. And with a high representative APR, this is best used as a revolving credit facility rather than a long-term funding solution.

Rewards – It is always nice to be rewarded for your spending. And with the Capital On Tap Business Rewards card, you can earn 1 point for every £1 of card spend, which can then be redeemed as 1p (1% cashback) or 1 Avios point.

Welcome bonus – Alongside the ability to earn ongoing rewards, the card also has a welcome bonus. You can receive 10,000 bonus points that you can redeem for £100 or 10,000 Avios when you spend £5,000 on your card in the first three months.

No FX or ATM fees – This card has the added benefit of no foreign exchange (FX) fees and no ATM withdrawal fees. This means that the cost of using the card is lower than it would otherwise have been. One thing to note though is that the interest on cash withdrawals is still relatively high – so if you do need to make ATM withdrawals, try not to have them sitting on your card for a long period of time.

Supplementary cards – With this card, you can get up to 20 free supplementary cards for employees or partners – 10 more than the basic version of this card. Capital On Tap also lets you set individual spending limits on each card.

What’s not so great

Annual fee – While you stand to receive additional benefits with this card, you will have to pay out the £99 annual fee for the privilege. While the basic Capital On Tap business card has removed all barriers to entry for small businesses with no sign-up fee, this Reward version does come with a price tag attached. When it comes to annual fees, it is always worth considering whether the benefits from the rewards on offer outweigh the cost of the card.

Introductory period – Other than the standard up to 56 days interest free on card purchases, this card has nothing in the way of interest-free introductory periods. This means it is best used as a short-term funding solution – as any balances left sat on the card could incur high interest charges.

How it compares

This card offers something that few other business credit cards do: the ability to transfer cash fee-free directly to your high street bank account. This provides a level of flexibility that is not always available, as many small businesses can’t use a credit card for all of their expenses.

While you will have to pay an annual fee for this Reward version of the card, it is in line with what you would expect to pay in annual fees elsewhere. And there is the added bonus that once the annual fee has been paid, there are no fees attached to non-sterling transactions or ATM withdrawals.

In terms of the rewards themselves, 1% cashback is in line with cashback offers from other business credit cards on the market. The main difference with the Business Rewards card is that you can also convert your points into Avios. This then provides you with the choice of redeeming your points for cash or using them for reward flights, hotels or discounted travel offers.

If there is one thing that almost all businesses need, it’s capital. While a traditional business credit card offers access to funding, it typically can only be used for purchases that are put on the card. But not all businesses, especially smaller ones, can use a credit card for all of their expenses.

A credit transfer facility gives cardholders the choice of how they use their funds. Either they can use their card for spending – or they can send the funds they need straight to their bank account. Meaning that they can provide themselves with a short-term finance solution.

The key benefit of this sort of card feature is that it provides flexibility. If you are a small business that is in need of a short-term cash boost to cover expenses, the ability to use a credit transfer facility could be the difference between meeting your payroll expectations and not.

Of course, it is always best to check whether fees would be attached to this sort of transfer and what interest charges could occur. As most credit cards carry a relatively high APR, this type of funding option is best used in the short term. If you can release the funds needed, pay your necessary expenses and then repay the amount before being charged interest, you will more likely feel the real benefit of this sort of finance solution.

How do you apply?

Applications can only be made online. The application requires you to provide information regarding your business, including – if you are limited company – your registered number, and some personal details.

Applicants receive an instant decision and, if your application is approved, funds can be accessed immediately online and you will receive your card within four business days.

Who is this card great for?

This card is great for small businesses looking for access to funding, but who want a little extra for their spending. It has everything that the basic Capital On Tap business card has – but with rewards on top. So cardholders can benefit from the lack of fees for foreign transactions and ATM withdrawals, as well as earn 1% cash back or 1 Avios point for every £1 spent. However, for all of these benefits, you will be required to pay an annual fee of £99.

This card is also suited to those businesses that are looking for a bit of flexibility with their funding options. The fee-free credit transfer facility means that you can be in charge of how to spend your funds, rather than being confined to only spending on your card.

Finally, this card is suited to businesses that are small and relatively new. To be eligible to apply, you need to be a UK-registered company with more than three months of trading history and an annual turnover of at least £24k. The only other requirement is no CCJs against you or the business in the last 12 months.


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