BA Sale

EXCLUSIVE HFP OFFER: Get £150 or 15,000 Avios sign-up bonus with Capital On Tap’s Visa card!

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

We have launched a great new Head for Points offer for any reader who has some sort of small business or self-employment.

This exclusive offer is ONLY available to Head for Points readers.

Capital On Tap’s Business Rewards Visa card is aimed at the small business community. You earn 1 point per £1 you spend, which is redeemable for 1p cashback or 1 Avios.

Between 13th January and 5th February, Head for Points readers will also receive £150 cashback or 15,000 Avios when they sign-up.

There is an annual fee is £99.  It doesn’t take a genius to realise that the £150 cashback or 15,000 Avios gives you an immediate gain for your first year, and of course you will be earning 1p cashback or 1 Avios per £1 spent too.

As an added benefit, this is the ONLY Avios-earning credit card 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.  The Capital On Tap home page is here and full details of the Rewards Visa are here.

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.  

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.

Capital On Tap Capital Club review

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 £150 cashback or 15,000 Avios if you apply by 5th February 2020 and use the headforpoints promo code

has an on-going earnings rate of 1 point per £1 you spend, redeemable for 1p cashback or 1 Avios

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 credit 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!  You do not have to wait 24-48 hours as you would with an American Express Membership Rewards transfer.

And an extra bonus for Head for Points readers!

Normally, we can offer a modest extra bonus worth £5 or 500 Avios to our readers.

For the three weeks, we have really gone to town. You will receive an additional 5,000 points – which can be redeemed for £50 or 5,000 Avios – just for being a HFP reader

This takes your total bonus to 15,000 points which converts into £150 cashback or 15,000 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.

Earn Avios with Capital on Tap Business Rewards visa credit card

Who can apply?

The Capital On Tap cards are 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 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 – until 5th February, you are getting £150 or 15,000 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 point (redeemable for 1p cashback or 1 Avios) per £1 spent 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 can get more than 1p for them 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 5,000 points as a sign-up bonus.  If you go to the application form via this link, the code should be filled in for you.

You will NOT see the additional 5,000 points showing on the website.  However, the extra points will appear automatically with your core 10,000 points as long as you use the headforpoints code.

We have been covering Capital On Tap for almost a year now and we have never had a complaint from a reader who did not receive their additional HFP reader bonus.  We can easily chase it up for you if you have any issues.

This special offer of £150 cashback or 15,000 Avios expires on 5th February.

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 Avios, 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.

BAD NEWS: Amex cuts the earning rate on the SPG card as it rebrands as the Marriott Bonvoy American Express
Bits: extra BA Caribbean discounts, last day for IHG's Europe sale, using Railcards on Heathrow Express

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
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. Stanley says:

    Application was declined. “We’ve reviewed all the information that you provided, as well as conducting a soft quotation search on your credit record. Regrettably, based on all available information, we’re currently unable to approve you for a credit facility.”

    Bizarre – we are a large company established for 15 years with an excellent credit rating. Oh well.

  2. Does having a couple of BTL’s constitute having a business by the above definitions? What sort of evidence do they need.

    • With a business bank account you should be OK. With a Limited Company you should very much be OK. All the cash paid into your personal account and no real proof the BTLs exist ….

      • Thanks Rob. Have a dedicated personal account and definitely have proof they exist. Does the former rule out the latter?

  3. We’re going to need a little more time…..

    I wonder what they look for

  4. What is the transfer of Avios like? The biggest issue I have with Amex is not being able to transfer to whosoever in the company.

  5. Sam Collins says:

    Signed up, got the card, appreciate the Xero Integration, box wasn’t pre-filled but did add the code, the no FX charges will make a difference, trust you got a nice bonus as well as it covers my HfP annual subscription!

  6. Mr Magee says:

    It’s about time you got a better offer seeing as previously it was only 500 points and they had a much better offer for referrals.

  7. Off the topic, but can you do an analysis of the new Marriott Bonvoy Amex which will reace the SPG one from February? I got a letter today about this.

    • TGLoyalty says:

      What do you want to know? Only confirmed changes were on the letter.

      15 Elite Qualifying Nights per year better if you are likely to spend 35 nights in Marriott hotels to reach platinum or 10 to reach gold.
      2 points ilo 3 per £1 spend it’s worse than pre 27th Feb 2020

      There seems to be talk on FT that we might still get 6/£1 at Marriott hotels but that’s not in the letter.

  8. Peter K says:

    Thanks for this Rob. That’s my yearly site subscription paid at the same time.

  9. Jonathan says:

    Is it possible to pay HMRC using the new credit card via curve?

  10. Wouldn’t recommend capital on tap complete waste of time, lack any common sense and blanket scripted policies, only apply if you want a Decline on your credit file.

    • Eh? It is stated clearly on their website that they do not do a credit check on you.

    • Wow. Considering a few responses above suggest others have successfully applied in the last 48hrs, your response suggests you handle rejection badly.

  11. Isherwood1939 says:

    To add my experience – small SME, trading for about 5 years with no CCJs, etc. Applied using HFP code (of course) mid-November and accepted without a hesitation. Then had nearly a month of IT issues while various departments tried to resolve the fact that I could not activate my card online. So it was useless to me during a busy time when I really needed it. Eventually it was done behind the scenes so now all working and additional cards ordered. After complaining they did give me an extra 1000 points and £15 credit. At my request, they also agreed to an extra month to spend the £k for the bonus. Main gripe : I do find the account area on the website lacks polish, is rather clunky and hard to navigate. However, overall as Rob says there is a decent corporate credit card scheme here so I am giving them the benefit of the doubt and kicking Barclaycard well and truly into touch.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

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