Review: Get 15,000 Avios sign-up bonus with the Capital On Tap Business Rewards Visa credit card!

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This is our review of the Capital On Tap Business Rewards Visa credit card.

Capital On Tap – a small UK payments card company which I admit you may never have heard of – runs the only small business Visa credit card which can earn you Avios points.

With their Business Rewards card, you earn 1 Capital On Tap points (worth 1p cashback or 1 Avios) per £1 you spend, and get a 15,000 points (worth £150 or 15,000 Avios) sign-up bonus.  The annual fee is £99.

The £150 or 15,000 Avios sign-up bonus is an exclusive offer for HFP readers.  It runs until 13th July, at which point the bonus will drop back to £100 or 10,000 Avios.

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 Business Rewards Visa card and who can apply.

What Avios SME credit cards are out there?

There are four credit or charge cards which allow you to earn Avios from spending by your small business.   These are:

If you missed our earlier article, our review of the British Airways Accelerating Business American Express credit card (2,200 On Business points sign-up bonus) is here.

Our last review of American Express Business Platinum is here.  This card has a generous bonus of 40,000 Membership Rewards points if you can spend £6,000 in six months.  You qualify for the bonus as long as you haven’t had any personal or business Platinum, Gold or Green Amex cards in the past six months.  You can apply here and our Amex Business Platinum review from last Monday is here.

There is also American Express Business Gold.  This offers a sign-up bonus of 20,000 Membership Rewards points if you can spend £3,000 in six months.  Our full review of Amex Business Gold is here.  This card is FREE for the first year.  You can apply here.

Today I want to look again at Capital On Tap Business Rewards Visa credit card.

Capital On Tap Capital Club review

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 also negotiated a higher sign up bonus exclusively for our readers!

With the Capital On Tap Business Rewards card, you earn 1 Capital On Tap point (worth 1p cashback or 1 Avios) per £1 you spend, and get 15,000 Capital On Tap points (worth £150 or 15,000 Avios) as a sign-up bonus.  The annual fee is £99.  The 15,000 points offer is exclusive to Head for Points and runs until 13th July 2020.

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 100,000 customers across its existing ‘no rewards’ payment card and the Avios products.  This card was its first move into the rewards market.

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

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.

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 of 10,000 Capital On Tap points which is worth £100 cashback or 10,000 Avios

this is increased to 15,000 Capital On Tap points, worth £150 cashback or 15,000 Avios, if you use the promo code “headforpoints” when applying – this is a special offer until 13th July 2020

has an on-going earnings rate of 1 Capital On Tap point (worth 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 Business Rewards Visa credit card review

And an extra bonus for Head for Points readers!

Until 13th July, Head for Points readers get an extra sign up bonus worth 5,000 Capital On Tap points (convertible into £50 or 5,000 Avios).  This takes your total bonus to £150 cashback or 15,000 Avios.  You need to use promo code “headforpoints” when applying.

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

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.

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 15,000 Capital On Tap points, worth £150 or 15,000 Avios, as a sign-up bonus in return for an annual fee of £99 as long as you apply by 13th July and use the promo code “headforpoints”

You only need to spend £5,000 in three months to qualify for the sign-up bonus

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

The card has no FX fees

1 Avios per £1 can’t be beaten from a Visa or Mastercard and you get far better acceptance than with an American Express card

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 an Avios point is worth more than 1p 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 Capital On Tap points as a sign-up bonus!  The special 15,000 points offer ends on 13th July 2020.

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.

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Comments

  1. Wally1976 says:

    Slightly OT – how but many MR points do you get for referring someone from the Amex Gold BUSINESS card for one of the personal Amex cards? Is it the same as from the personal gold cards (6k normally but 9k currently I believe)?

  2. Ming the Merciless says:

    I had this card about 12 months ago. Chances of getting the sign up bonus again?

  3. Jimbob says:

    If I signed up for the business gold Amex, do I then have to wait a further 24 months after cancelling it to be eligible for the personal platinum Amex sign up bonus?

    • No. The personal cards only look at what other PERSONAL Amex cards you’ve had in the past 2 years. They ignore any Business cards you’ve had.

  4. Pat the Postie says:

    I’m surprised that your incentive is only 500 points…

    • We had a 5,000 point bonus offer in January. This won’t be coming back in the short term, however, because COT is not aggressively looking to pick up more clients given the difficulty of assessing risk at the moment.

      • Rob. Do you know when the extra 5000 points are awarded? I seem to remember it was after 4 or 5 months? I’ve definitely spent enough on it.

  5. How quickly are cot points awarded? Monthly with statement generation?

    • Peter K says:

      The points earned up to your statement period are made payable monthly on the date of your direct debit payment (or day after, can’t remember which).

  6. Andrew says:

    A tad off topic but what’s the best non Amex Rewards card for personal accounts? I got my Gold AMEX from a referral from Rob and it’s going very well so far.

    Virgin seems the best but for me Virgin don’t really operate in N.Ireland/Ireland so I can’t see it being worth while. Any other alternatives?

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