The Ultimate Guide to the Capital on Tap Business Credit Card Benefits
Unlock the full potential of your business with the Capital on Tap Business Credit Card. Enjoy 1% cashback on all spending, up to 42 days interest-free on purchases, and credit limits reaching £250,000. Easily manage finances with seamless accounting software integration and issue unlimited employee cards at no extra cost. The straightforward application process gets you a decision within 24 hours and a physical card in just 2 days. With no annual fees and low variable rates, it’s cost-effective too. Plus, their 24/7 customer support ensures you stay focused on growth. Discover more details that can elevate your business.
Key Features
The Capital on Tap Business Credit Card offers a range of key features designed to streamline your business finances and maximize your benefits. First, you’ll earn 1% cashback on all spending with no limit. Whether you’re buying office supplies or covering travel expenses, every purchase contributes to your bottom line.
One of the most appealing features is the up to 42 days interest-free period on purchases. This gives you ample time to manage your cash flow without worrying about immediate interest charges. You can make big purchases and have nearly two months to pay them off without additional costs, allowing you to better plan your expenses.
With credit limits of up to £250,000, you can cover substantial business expenses without the need to juggle multiple credit cards. This high limit ensures that your business has the necessary financial flexibility to seize opportunities or handle unexpected costs.
Another standout feature is the access to unlimited employee cards and virtual cards at no extra cost. You won’t have to pay extra to equip your team with the resources they need to make purchases on behalf of the business. Virtual cards add an extra layer of convenience and security for online transactions.
Additionally, integrating your Capital on Tap account with accounting software simplifies your financial management. This feature ensures that all your transactions are automatically recorded and categorized, saving you time and reducing the risk of errors.
Eligibility Criteria
To qualify for a Capital on Tap business credit card, you need to be an active director or own at least 25% of a UK business. This is a fundamental requirement to ensure that the card is used by those who have a significant stake and operational involvement in their business.
Your business must also have a minimum annual turnover of £24,000. This threshold demonstrates that your business generates sufficient revenue, making you a lower-risk candidate for credit. It’s crucial to meet this financial benchmark as it reflects the financial health and stability of your business.
Additionally, you shouldn’t have any outstanding County Court Judgments (CCJs) for debt in the last 12 months. Having recent CCJs could indicate financial instability, which could disqualify you from eligibility. It’s important to maintain a clean credit history to improve your chances of approval.
The Capital on Tap business credit card isn’t suitable for all types of organisations. Specifically, charities, trusts, Public Limited Companies (PLCs), sole traders, or dormant/dissolved companies aren’t eligible. The card is designed for active, operational businesses that meet specific legal and financial criteria.
Once approved, you can issue multiple employee cards under your business account. This is a significant benefit as it allows you to manage expenses and streamline operations by equipping your team with the necessary financial tools.
Application Process
Applying for a Capital on Tap business credit card is a straightforward process that you can complete online with minimal hassle. You’ll begin by visiting the Capital on Tap website and filling out the application form. One of the best aspects of this process is that it only involves a soft credit inquiry, meaning it won’t impact your credit score.
Once you’ve submitted your application, you can expect a decision within 24 hours. This quick turnaround allows you to focus on running your business without long waits for approval. If your application is approved, you’ll receive instructions to set up an online account. This account will help you easily manage your card activities, view transactions, and make payments.
Don’t forget to use our Capital On Tap Promo code: 2REFF362E24 when signing up to get £75 FREE cash. More details on our homepage here
After approval, your physical Capital on Tap business credit card will be dispatched and should arrive at your address within 2 working days. This speedy delivery ensures you can start using your card almost immediately. As soon as you receive the card, you’ll need to activate it. Activation is simple and can be done either online through your account or by following the instructions provided with the card.
Once activated, you’re all set to start making purchases. The Capital on Tap business credit card is designed to support your business needs effectively, giving you access to funds and helping you manage expenses effortlessly. With the card in hand, you’ll be better equipped to handle your business finances, allowing you to make the most of the benefits that come with being a Capital on Tap cardholder.
Rewards and Cashback
You’ll love the 1% cashback on all eligible purchases with the Capital on Tap business credit card. This straightforward rewards structure ensures that every dollar your business spends earns you something back. It’s a simple, effective way to make sure your everyday expenses are working for you.
One of the standout features of this card is that there’s no earning cap on your cashback rewards. Whether you’re purchasing office supplies, covering travel expenses, or buying inventory, you’ll continuously earn 1% cashback without any limits. This unlimited earning potential means there’s no need to worry about hitting a ceiling and missing out on rewards.
Redeeming your cashback is just as easy. You can apply your earned rewards directly as a credit on your card balance, helping to offset future expenses. This makes the redemption process straightforward and convenient, ensuring you get the most value out of your rewards with minimal hassle.
Additionally, the Capital on Tap business credit card offers the option for unlimited employee cards. This feature can significantly boost your cashback earnings, as every purchase made by your employees also earns 1% cashback. It’s an excellent way to maximize rewards across all aspects of your business spending.
The competitive rewards structure of the Capital on Tap card makes it an excellent choice for businesses looking for a simple yet effective cashback program. Earning rewards on every purchase helps you manage costs and reinvest in your business.
Fees and Charges
While the rewards and cashback benefits are compelling, understanding the fees and charges associated with the Capital on Tap business credit card is equally important. One of the standout features is that there’s no annual fee, which means you can enjoy all the card’s benefits without worrying about recurring costs eating into your budget.
You’ll also appreciate the low purchase rate, starting as low as 15.5% variable. This makes it easier to manage your business expenses without incurring high interest charges. Additionally, the representative APR stands at 35.15% (variable), providing a clear picture of what you can expect in terms of overall interest rates.
Another major advantage is that there are no late payment fees. If you happen to miss a payment, you won’t be penalised financially, which can be a relief for business owners managing fluctuating cash flows. Similarly, there are no foreign exchange fees, making this card an excellent choice for businesses that operate internationally.
When it comes to security, the Capital on Tap card offers limited liability for unauthorized transactions. This means you won’t be held responsible for fraudulent charges, adding an extra layer of protection for your business. Plus, there’s no personal liability for business debts, ensuring your personal assets remain safe even if your business faces financial difficulties.
Customer Service
Regarding customer service, Capital on Tap excels with its 24/7 helpline and prompt email support. You can call their customer service team anytime at 020 8962 7401, ensuring you’re never left in the lurch no matter when an issue arises.
If you prefer email, sending a message to contact@capitalontap.com guarantees a response within four hours during business hours. This rapid turnaround means you won’t be waiting long for a resolution.
Additionally, there’s an online chat function available daily from 8am to 8pm. This feature is perfect for quick questions or clarifications that you might need on the go. The chat function is user-friendly and connects you to a representative who’s equipped to handle your queries efficiently.
Capital on Tap’s commitment to stellar customer service is reflected in their Trustpilot rating. With an impressive score of 4.7 stars based on over 13,500 reviews, it’s clear that customers are largely satisfied with the support they receive. The high rating is a testament to the company’s focus on resolving issues quickly and effectively.
When you’re running a business, time is money, and Capital on Tap understands that. Their customer service team is known for providing efficient support, ensuring that you can get back to what matters most—your business. Whether it’s a billing question, a card issue, or a query about benefits, they’ve got you covered.
Alternatives
If you’re exploring options beyond Capital on Tap, several neobanks and spend management solutions offer competitive business credit cards with modern features. Neobanks like Revolut, N26, and Monzo provide low-fee business cards that come with a suite of contemporary functionalities. These cards are perfect for businesses seeking to minimize costs while benefiting from advanced financial tools.
Spend management solutions like Spendesk take it a step further by combining employee cards with invoicing and expense management tools. They offer credit lines, cashback, and seamless integrations with popular accounting software, making it easier for you to keep your financial operations streamlined and efficient. Virtual cards for online payments and easy accounting are standard features, adding a layer of security and convenience to your financial transactions.
These alternatives are especially suited for companies with 30+ employees. They help streamline spending processes and improve financial management, making it easier for you to monitor and control expenses. Whether it’s Revolut’s intuitive app, N26’s real-time spending notifications, or Monzo’s budgeting features, these neobanks offer a range of options to suit your business needs.
When evaluating alternative business credit card providers, consider how easy their platforms are to use, the level of control they offer over expenses, and the visibility they provide into your financial activities. These factors are crucial for maintaining efficient and effective financial management. By opting for these modern solutions, you can ensure that your business remains agile, cost-effective, and well-organised in its financial operations.
Frequently Asked Questions
Is Capital on Tap Business Rewards Worth It?
If you travel frequently for business, Capital on Tap Business Rewards might be worth it.
For an annual fee of £99, you can earn Avios points, which can be redeemed for flights, hotel stays, or other travel expenses.
The card also offers the flexibility to convert points into cashback or gift cards.
It’s a solid choice if you want to maximize rewards beyond the standard 1% cashback.
Does Capital on Tap Build Business Credit?
Yes, Capital on Tap does build business credit. They report to business credit bureaus, so your payment activity gets recorded.
By using the card responsibly, making timely payments, and keeping your credit utilization low, you’ll positively impact your business’s credit score.
Over time, this helps you build a solid credit history, which can lead to better financing options and improve your business’s overall creditworthiness.
What Does Capital on Tap Do?
Capital on Tap helps you manage your business finances by offering credit cards with high limits, up to £250,000. You’ll get 1% cashback on all purchases and can create unlimited employee cards with individual spending limits.
Enjoy a 42-day interest-free period and earn Avios rewards points. They aim to provide easy access to funds and convenient payment methods, making it simpler for entrepreneurs like you to run your business.
Conclusion
With the Capital on Tap Business Credit Card, you’ll get a range of benefits like cashback, rewards, and excellent customer service. It’s designed to cater to business needs, making it a solid option for entrepreneurs.
If you meet the eligibility criteria and are comfortable with the fees, this card could be a valuable addition to your financial toolkit.
Don’t forget to explore alternatives to ensure it’s the perfect fit for your business.
Go To The OntapPromo homepage for more details on our amazing free £75 offer here
Or go directly to Capital On Tap and sign up for the offer using a prepopulated Capital on Tap referral here