Capital on Tap’s business Visa card offers credit facilities of up to £250,000, no charges on FX transactions and the option of 2 generous rewards schemes.
Since launching in 2012, Capital on Tap has been shaking up the business credit card space with its generous rewards schemes and free-free spending abroad. And although it isn’t doing anything revolutionary, it is doing it well.
Specifically designed with small businesses in mind, you can use it for cashflow flexibility, with its fee-free money transfers to your nominated bank account. Plus you can enjoy sub-£250k funding and collect rewards on all your day-to-day business spending. Those features, in combination with a slick application experience and interface, have allowed Capital on Tap to go from strength to strength while helping more than 200,000 UK businesses. Another thing that Capital on Tap can rave about is that the eligibility criteria is more lenient than many of its rivals’ and you get a near-instant decision.
As a business owner, it’s always a nice bonus when you’re rewarded for your hard work. If you successfully apply for the Capital on Tap Business Credit Card, you’ll automatically be signed up for its fee-free card with free rewards - allowing you access to 1% uncapped cashback on your everyday business spending and access to exclusive business offers. But, if you’re itching to add a few more rewards perks to your package, you could opt for the Business Rewards scheme for £99 per year, which will get you all the benefits of the free rewards scheme, plus the option to redeem points for Avios flight points and a generous sign-up bonus
So what’s not so hot? Capital on Tap’s rewards programmes goes head-to-head against American Express, and credit where credit’s due (sorry), Amex offers a more extensive and elaborate rewards and perks package on the more expensive cards in its range. By contrast the Capital on Tap rewards scheme is simple and automatic, which many will prefer and as a Visa card, it is more widely accepted,
As with any financial decision, you should make sure you can afford the repayments on any debt you accrue, and aim to clear your balance in full each month to avoid interest altogether, as this will almost certainly outweigh the value of the cashback or points you earn.
Overall, Capital on Tap is doing a great job of persuading SMEs that you don’t have to just settle for a bolt-on credit card from your regular bank and with its fee-free spending abroad, it’s certainly worth considering.
Capital on Tap’s business Visa card offers credit facilities of up to £250,000, no charges on FX transactions and the option of 2 generous rewards schemes.
Issuer | Capital on Tap |
Network | Visa |
Annual/monthly fees | £0 |
Purchases | 34.3% |
Purchases interest-free period | Up to 56 days |
Cash advances | 49.885% |
Minimum credit limit | £1,000 |
Maximum credit limit | Subject to status: £250,000 |
Additional cards available | Unlimited free company cards for employees and partners, with the ability to set individual spending limits on each card. |
Incentive | Earn 1 point for every £1 of card spend. Redeem 1 point for 1p (1% cashback) |
Additional Rewards Info | Earn 1% cashback for every £1 spent. Upgrade to Capital on Tap Business Rewards Card for £99 pa to choose between earning cashback or Avios and receive 10,000 bonus points when you spend £5,000 on your card in your first 3 months. |
Potential costs | ★★★★★ |
Doing its job | ★★★★★ |
Extras | ★★★★★ |
Overall Finder rating | ★★★★★ |
Overall customer rating | ★★★★★ |
Minimum monthly payment | 10% or £100 (whichever is greater) |
Annual/monthly fees | £0 |
Foreign usage charge (EU) | 0% |
Foreign usage charge (rest of world) | 0% |
Cash advance fee | 0% |
Late payment fee | £0 |
Duplicate statement fee | £0 |
Exceeding limit fee | £0 |
Additional card fee | £0 |
Dormancy fee | £0 |
Capital on Tap is a digital lender based in the UK that offers business credit cards designed for small businesses with credit facilities of up to £250,000. It isn’t a bank, but it holds a regular licence that is restricted to business lending and is authorised by the Financial Conduct Authority (FCA).
Since launching in 2012, Capital on Tap now has more than 200,000 business customers across the UK, providing more than £2 billion to help companies grow.
In 2021 it launched across the pond in the US after securing £450m in funding from the likes of BNP Paribas and HSBC.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Capital on Tap offers two rewards schemes for its Business Credit Card The standard option comes without any monthly or yearly fees and allows you to earn 1% cashback on your business spending. Or you can opt to upgrade to the Business Rewards scheme, which costs £99 per year and lets you choose between earning cashback or Avios points. Plus, if you’re a new Capital on Tap customer, you could be eligible for 10,000 bonus points when you spend £5,000 in your first 3 months.
You may be eligible for a Capital on Tap Business Card if you meet the following criteria:
As soon as you are accepted, you can access your online portal, where you can make transfers and view your transaction history. As the main account holder, you can see all the transactions made by the staff you’ve issued additional cards to and will be responsible for any late or missed repayments. You can also set each cardholder an individual spending limit. It’s good to note that any points or rewards earned from staff spending will belong to the main account and not the individual cardholder.
Additional cardholders can access their own version of the portal where they can activate their card, view their transactions only, change their PIN, etc.
The app for Androids and iPhone is essentially another (quicker) way to access the online portal, so it can be used by the main account holder and additional cardholders alike.
When it comes to repayments, you can choose how much you repay from the following options:
You can make manual repayments using a debit card via the online portal or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card.
You can’t change your repayment day once you have set up your direct debit, but you can opt into weekly full balance repayments if you wanted to pay more frequently. If you opt for weekly repayments, Capital on Tap will set up a direct debit every Monday and payment will be taken every Thursday.
If you wish to talk to a Capital on Tap team member directly about your repayment options, call 0208 962 7401. You could face a charge if you miss a repayment.
Minimum amount | Fixed amount | Fixed percentage | Full amount |
---|---|---|---|
Customers who took part in Finder’s 2023 customer satisfaction survey were overwhelmingly positive about Capital on Tap, with many highlighting its “exceptional” customer service and app, and generous customer loyalty rewards.
One customer said: “I get deals and offers all the time online and in the post, I tell all my friends and family to join”
Capital on Tap scored of 5 out of 5 for customer satisfaction. 91% of customers would recommend the brand to a friend.
Capital on Tap also scored 4.7 out of 5 on review site Trustpilot from more than 11,000 reviews (updated September 2023). This gives it an “excellent” rating.
Trustpilot | Apple App Store | Google Play | |
---|---|---|---|
★★★★★ 1.2 out of 5 |
★★★★★ 4.7 out of 5 |
★★★★★ 4.9 out of 5 |
★★★★★ 4.2 out of 5 |
If you’re looking for a versatile everyday credit card for your business, the Capital on Tap Business Credit Card is a very respectable option. The card – designed with small businesses in mind – lets you earn uncapped 1% cashback while not charging any annual or monthly fees, making it a fairly cost-effective way of helping improve your business’s cash flow, provided you pay off the balance in full each month.
Whether or not you’re planning to head overseas, you’ve got the reassurance of knowing that non-sterling transactions won’t incur any fees, instead being converted at the standard Visa exchange rate. And, if you’re looking to boost your rewards pot even more, you could upgrade to the Business Rewards scheme for £99 per year, allowing you to redeem your points for Avios. Plus, if you’re a new Business Rewards customer, you could be eligible for the 10,000 points sign-up bonus. But, if you are all about chasing those rewards, this card does come up short against Amex’s competitive programmes, so, make sure you compare all your options before you apply.
If you’re thinking about getting a business credit card and aren’t sure which one to pick, take a look at our business credit card comparison page.
Our customer satisfaction scores ("Customers say") are based on a survey of 623 customers carried out in December 2022.
To find out more, read our full methodology.