EDIT: This article is now out of date. Capital On Tap has relaunched with just one Avios card, Business Rewards, which is better than both of the cards described below. Click here to read our review of Capital On Tap Business Rewards. We still have a higher sign-up bonus for our readers!
Capital On Tap’s Capital Club card is a new payment card for small businesses which offers Avios on your spending.
We covered it in detail here but in summary:
you get 10,000 Capital On Tap points (converts to 5,000 Avios) for signing up and spending £5,000 within 3 months – and HFP readers get a special higher bonus
you get 1 Capital On Tap point for every £1 you spend (converts to 0.5 Avios)
no foreign exchange fees when spending overseas
no ATM fees if withdrawing cash on the card
up to 56 days interest free credit on purchases (minimum monthly repayment is the greater of 10% of balance or £250)
up to 15 free supplementary cards for your staff
The card has an annual fee of £99. This is obviously tax deductible as a business expense. The maximum credit limit on offer is £50,000.
I have now heard from two HFP readers who have successfully used the card to pay HMRC. It appears to go through as a personal debit card and is therefore accepted without any fees. This would allow our self-employed readers to pay their VAT, PAYE, corporation tax and personal tax via Capital On Tap whilst earning 0.5 Avios per £1 spent.
If you use promo code headforpoints when signing up, you will receive an additional 500 Capital On Tap points. This is worth an additional 250 Avios.
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)