Capital on Tap Business Credit Card
- Get up to £250,000 to grow your business.
- Earn 1% cashback for every £1 spent.
- Enjoy up to 56 days interest-free on purchases.
- No application fees or non-sterling transaction fees.
Representative example: When you spend £1,200 at a purchase rate of 34.3% (variable) p.a., your representative rate is 34.3% APR (variable).
Pros and cons
- Option to spread out payments
- Earn cashback on purchases
- No foreign transaction fees
- Send payments from your card to a business bank account
- High credit limit available
- Interest applies if you don’t pay off your balance in full each month
- Cashback is capped
- Transaction fees apply if you send payments to a business bank account
- Late payments will result in a fee of £500 or 6% of the amount due, whichever is higher, and may affect your credit rating
Who is Debite?
Debite is a financing platform for early-stage companies that launched in the UK in May 2022. It offers a buy now, pay later (BNPL) model to help businesses spread the cost of expensive business payments via a flexible repayment plan.
The company says it is on a mission to help early-stage businesses grow by providing funding to help manage business costs. It currently offers the Debite Card but also plans to offer Save & Spend Loans in the UK, with funds of £5,000 to £50,000 available.
What is the Debite card and how does it work?
The Debite card is a corporate credit card that offers a credit limit of up to £250,000. It offers up to 35 days of interest-free credit but also allows you to split your costs over 3, 6, 9 or 12 monthly instalments. If you choose to pay in instalments, interest rates start from 0.79% per month.
Main features of the Debite card
Some key features of the Debite card can be found below:
- Option to spread out payments. Choose from 3, 6, 9 or 12 months. Interest will be charged.
- No foreign transaction fees. You won’t be charged for carrying out card transactions overseas.
- Earn cashback. Earn 4% cashback for the first 3 months on card spending. Cashback is credited to your account after 30 days. Cashback is capped at £1,000 a month.
- Debite Pay. This enables you to send a payment directly from your Debite corporate card to a business bank account. You can use your line of credit to settle invoices from suppliers that don’t accept card payments or prefer bank transfers, for instance. A transaction fee of 2% applies (minimum £5).
- Exclusive deals. Get access to deals, promotions and cashback from Debite partners.
How to apply for the card
To apply for the Debite card, create an online account and enter some personal and business details. You’ll need to share details of your transactions and balances from your business bank accounts and your financial data from your online accounting platform.
Once you’ve completed your application and provided the required information, Debite should get back to you within 24 hours. When processing your application, Debite performs credit and identity checks.
What is the eligibility criteria for the Debite card?
To be eligible for the Debite card, you will need to:
- Be a startup or early-stage limited company.
- Be registered in the UK.
- Have a trading history of at least 3 months.
- Have at least one company director with a UK residential address.
- Have a minimum monthly revenue of £5,000 or a minimum bank balance of £50,000.
Alternatives to the Debite card
Before applying for any financial product, you should always research and see what else is available to decide what works best for you. Some alternative options worth considering are outlined below:
Capital on Tap Business Credit Card
Similar to the Debite card, the Capital on Tap Business credit card offers a credit limit of up to £250,000, no charges on foreign transactions, and you can earn uncapped 1% cashback on all card spending, which you can redeem for cash, gift cards and more. You do not have to pay an annual fee, but if you upgrade and pay £99 a year, you can redeem points for Avios and earn 10,000 bonus points when you spend £5,000 in the first 3 months.
Both pricing options give you unlimited free company cards for your employees, and you can set spending limits for each. In addition, you can connect with accounting software such as Xero, FreeAgent and Freshbooks and sync your card transactions.
However, you must pay off your balance in full each month to avoid paying interest.
American Express Business Gold Card
The American Express Business Gold card is actually a charge card which means you’ll need to pay off the balance in full each month. The card lets you earn 1 Membership Rewards point for almost every £1 spent and an extra 10,000 points when you spend £20,000 per quarter. You’ll also get 2 Rewards points for every £1 you spend on American Express Travel. Points can be redeemed on anything from team lunches to office supplies to spa day experiences.
The card also offers travel accident and travel inconvenience insurance, as well as purchase protection, refund protection and business account management.
Be aware that while there is no fee in the first year, the card costs £175 per year from the second year onwards.
Read our comprehensive guide to the best business credit cards for startups to learn more.
How does it compare?
Other popular business cards
Table: promoted then other popular deals
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.
Frequently asked questions
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Our experts score business credit and charge cards to determine their value against similar products on the market. We look at a number of important factors, like the flexibility it offers, any rewards you can earn through company spending, account management tools, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.