Review: the Capital on Tap Business Rewards Visa credit card (earns Avios)

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 point (worth 1p cashback or 1 Avios) per £1 you spend.

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. The application form is here. There is an exclusive higher sign-up bonus for our readers.

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

Who is Capital on Tap?

Whilst you may not have heard of Capital on Tap, it already has 120,000 customers across its existing ‘no rewards’ payment card and the Avios products.  This card, launched in 2018, was its first move into the rewards market.

You can find full details on their website here. 

Your interest rate is based on your business profile and can be as low as 1.19% per month.  The representative interest rate for marketing purposes is 34.3% APR variable.

This article was updated on 1st April 2024, and all of the information is correct as of that date. Ignore the original publication date shown.

Who can apply for the Capital on Tap Business Rewards card?

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 limited companies and LLPs.  It is not currently accepting unlimited partnerships or sole traders.

If you do NOT have a limited company, our recommended choice for a business Visa or Mastercard credit card is Barclaycard Select Cashback. It is free for life and you get 1% cashback on all of your spending. Our review of the Barclaycard Select Cashback credit card is here and you can apply here.

A minimum turnover of £24,000 is required.

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

We have an exclusive reader offer on the Capital on Tap Business Rewards Visa card.

You will receive a sign-up bonus of 10,000 Capital on Tap points when you spend £5,000 in your first three months, which converts into £100 cashback or 10,000 Avios.

You receive an additional 500 points for applying via our link, giving you a total of 10,500 Capital on Tap points.

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

The bonus arrives at the end of your fourth billing period, irrespective of how quickly you spend the £5,000.

Going forward, you earn 1 Capital on Tap point (worth 1p of cashback or 1 Avios) per £1 spent.

There is an annual fee is £99 which is tax deductible.

There are other benefits too:

• Unlimited free supplementary cards for your staff

• a credit limit of up to £250,000

• up to 56 days to pay before interest is incurred

• the card works with Apple Pay and Google Pay

• accounting integrations with Sage, QuickBooks, Xero and more

• 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.

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

If you have any sort of limited company which would allow you to qualify for the card, I think you need to have a serious look at Capital on Tap.

For the first year, it is a good deal, especially with our HfP offer. You are getting 10,500 Capital on Tap points, worth £105 or 10,500 Avios, as a sign-up bonus in return for an annual fee of £99. The bonus is triggered when you spend £5,000 within your first three months.

You also need to remember:

• 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 is a great return from a small business Visa or Mastercard

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.

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

Conclusion

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.

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

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. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.