NEW: Get 10,500 Avios sign-up bonus (and 1 Avios per £1 spent) with Capital On Tap’s new Visa business credit card

Links on Head for Points may pay us an affiliate commission. A list of partners is here.

Capital On Tap has merged its two existing small business Visa payment cards into one – and kept the best bits of both products.

With the new Business Rewards card, you earn 1p cashback or 1 Avios per £1 you spend, and get a £105 or 10,500 Avios sign-up bonus.  The annual fee is £99.

As an added benefit, this is the ONLY Avios-earning credit card in the UK which does not charge foreign exchange fees when used abroad.

In this article I will explain all you need to know about the Capital On Tap Visa cards and who can apply.

How does the Capital On Tap Business Rewards Visa card work?

The Capital On Tap Business Rewards card is the only way to indirectly earn Avios via a small business Visa or Mastercard credit card.  We have negotiated a higher sign up bonus for our readers!

The Capital On Tap card is aimed at SMEs and sole traders.  Whilst you may not have heard of Capital On Tap, it already has 70,000 customers across its existing ‘no rewards’ payment card and the Avios products.  These cards were their first move into the rewards market.

We have been writing about the cards for a few months and feedback from readers who have applied has been very positive, especially over their quick response to any queries or questions.

Capital On Tap is the answer for all of the people who have emailed me in search of a good travel rewards card for their business purchases.

You can find full details on their website here.  Read on first, however, to learn more about the additional bonus for HFP readers.

How does the Capital On Tap Business Rewards Visa card work?

In summary, the Capital On Tap Business Rewards Visa card:

has a sign-up bonus which is worth £100 cashback or 10,000 Avios

this is increased to £105 cashback or 10,500 Avios if you use the headforpoints promo code

has an on-going earnings rate of 1p of cashback or 1 Avios per £1 spent

has an annual fee is £99 (tax deductible as a business expense)

The sign-up bonus requires you to spend £5,000 within three months.  The bonus arrives at the end of your fourth billing period, irrespective of how quickly you spend the £5,000.

There are some other good benefits too:

20 free supplementary cards for your staff

a credit limit of up to £50,000

up to 56 days to pay before interest is incurred

No FX fees and no ATM fees 

Capital On Tap Business Rewards is the ONLY Avios-earning payment card which does not charge foreign exchange fees.

Another positive point is that Avios transfers from Capital On Tap are INSTANTANEOUS.  Log in to Capital On Tap, request a transfer of some or all of your available Capital On Tap points to Avios, log in to your British Airways Executive Club account and they will be there!  Capital On Tap is the only UK Avios partner to offer instantaneous transfers.

Capital On Tap Capital Club review

And an extra bonus for Head for Points readers!

Head for Points readers get an extra sign up bonus worth £5 or 500 Avios.  This takes your total bonus to £105 cashback or 10,500 Avios.  You need to use code headforpoints when applying.

Interest rate information:  Your interest rate is based on your business profile and can be as low as 9.9% APR.  The standard interest rate for marketing purposes is 39.9% APR.

You can find full details of the Business Rewards card – and apply – on their website here.  Read on first, however.

Earn Avios with Capital on Tap Business Rewards visa credit card

Who can apply?

The Capital On Tap card is aimed at sole traders as well as small businesses.  The company appears to be flexible in who they accept:

if you are a UK limited company or limited partnership with turnover of £24,000+ then you should be eligible

if you are a VAT registered sole trader then you should be eligible. 

if you are a sole trader under the VAT threshold but above £24,000 then applications are looked at on a case by case basis – if you have a functioning website and are clearly in business then I am told you should be eligible

Applicants must not have a CCJ against themselves or their business in the past 12 months.

Do you really need a dedicated business Visa card for your company?

Some sole traders, including myself, use a personal credit card for their business expenses.  A lot of self employed people – or their accountants – are not happy doing this, however, and it is clearly not sensible to give personal credit cards to your staff.  You need a dedicated business credit card in these circumstances.

Until now, if you wanted to earn rewards from a small business payment card you were reliant on the American Express Gold Business, American Express Platinum Business or British Airways American Express Accelerating Business cards.  These are good products but obviously have issues over Amex acceptance, especially with small suppliers.

The Capital On Tap Visa cards are small business credit cards that can be used everywhere that Visa is accepted.  They are also the only Avios-earning cards which do not have foreign exchange fees.

Capital On Tap credit cards bonus

Is it worth getting the Capital On Tap Business Rewards Visa?

If you have any sort of small business or self-employed income which would allow you to qualify for the card, I think you need to have a serious look at Capital On Tap now.

For the first year, it is a no-brainer – you are getting £105 or 10,500 Avios as a sign-up bonus in return for an annual fee of £99

The £99 annual fee is a tax deductible expense so the net cost to you will be lower

Even if you have a British Airways American Express Premium Plus card (earning 1.5 Avios per £1) or HSBC World Elite Mastercard (1 Avios per £1 but only available to HSBC Premier account holders), Capital On Tap is a far better card to use abroad because it does not charge a 3% FX fee

1 Avios per £1 can’t be beaten from a Visa or Mastercard and the BA Premium Plus Amex isn’t accepted everywhere

But don’t forget …..

Capital On Tap points can be converted into cashback as well as Avios.  You can choose to take 1p of cash instead of 1 Avios.

If you don’t value Avios at more than 1p (and in most scenarios you get more than 1p per Avios point as this article shows) then take your Capital On Tap points as cashback instead.

The cashback option also gives you a fallback in case Avios devalues or your travel plans change.  However, if you took cashback it would be taxable as business income.  You could pro-rata this to reflect personal spending but only if you also pro-rata the part of the annual fee you charge to your company.

Points and miles have no cash or taxable value – this is a long-held HMRC rule.

Remember to use our Capital On Tap promo code when you apply!

If the Capital On Tap Business Rewards Visa card sound interesting for your business, you can find out more and apply on their website here.

Remember to add promo code headforpoints to receive the extra 500 points as a sign-up bonus.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.

REMINDER: Open virtually ANY seat for Avios, on any flight, if you hit a qualifying target with BA's current promo
Heading to Singapore as a British Airways Gold cardholder or in First? Check out the brand new Qantas First Class lounge

Click here to join the 14,500 people on our email list and receive the latest Avios, miles and points news by 6am.

Amazon ad
AMEX Gold 20,000 bonus points
About Head for Points

We help business and leisure travellers maximise their Avios, frequent flyer miles and hotel loyalty points. Visit every day for three new articles or sign up for our FREE emails via this page or the box to your right.

Comments

  1. O/T Points on my Amex cards have finally started posting now. Seems only up to 1 Dec though.

  2. Secret Squirrel says:

    Iberia Groupon points – anyone received them from 2-3 weeks ago?

  3. SlothFace says:

    If you get declined with COT watch out they don’t take the direct debit out as well!

Please click here to read our data protection policy before submitting your comment.