Your questions on our 30,000 points Capital on Tap Visa offer answered

Got an SME? On Monday we launched a special sign-up offer on the Capital on Tap Business Rewards Visa credit card.

The offer is exclusive to you as a Head for Points reader. You can receive a sign-up bonus of 30,000 points, worth £300 cashback or 30,000 Avios.

You can read more about our Capital on Tap offer here. Remember that your business needs to be set up as a limited company or LLP to apply – unfortunately sole traders are not accepted.

You need to apply by midnight on 12th May.

As a reminder:

• the card is available to any limited company or LLP with annual turnover of at least £24,000

• you receive 10,000 points (convertible into £100 cashback or 10,000 Avios) as soon as you make your first card purchase

• you receive a further 20,000 points (convertible into £200 cashback or 20,000 Avios) if you spend £20,000 on your card within three months

• the day-to-day earning rate is 1 point for every £1 spent, and the redemption rate is a very impressive 1% – 1 point (= 1p cashback or 1 Avios).

As a Visa card, the Capital on Tap Business Rewards card is widely accepted. It also has NO foreign exchange fees. Even if you have an American Express Business card, Capital on Tap is ideal for suppliers who are based abroad or who do not take Amex.

Full details are in our main offer article which you can read here.

You can apply via this link.

Your questions, answered

Here are the answers to a number of common questions that readers had about the offer. I thought they were worth sharing in case you had similar queries.

How long does my company need to be trading before I am eligible for the card?

Capital on Tap considers all limited companies which have turnover of at least £2,000 per month, don’t have any unsatisfied CCJs in the last 12 months against them or their business and are based in the UK. There is no minimum period following incorporation as long as your run-rate turnover is £2,000 per month.

Is this card issued and credit checked to the individual applying, or does that liability sit with the limited company?

Capital on Tap consider both your personal and business credit profile during the underwriting process. Applying for a Capital on Tap credit card will not affect your personal credit score. They run a visible search on your business file and the impact of that will depend on how other lenders view the search. You will have personal liability for charges made to the card.

When do I need to spend by, and how much do I need to spend to get the bonus?

You need to apply by 12th May and make one purchase in the three months after your application to be eligible for the 10,000 points bonus. You need to spend £20,000 in the three months after your application to be eligible for the 20,000 bonus points.

You can take out an instantly available virtual card once you’re approved and have completed onboarding, which will allow you to start spending immediately and before your physical card arrives.

When will I get the bonus points?

Bonus points after each eligible spend milestone will be credited within 14 days of that spend being cleared on the account.

Can I use the card for non-business expenditure?

This is a business credit card and should be used for business spend.

Someone in my company already has a Capital on Tap card. Would I still get the bonus?

Capital on Tap is only able to offer one account for each business so if your business already has an active account you won’t be approved or be able to benefit from this bonus promotion.

Will I earn points on my card spending on top of the bonus points?

Yes – the bonus points are in addition to points you earn from card spending. This means e.g. if you spend £20,000 in your first 3 months, you’ll get:

• 10,000 bonus points for making your first transaction as part of this offer
• 20,000 ‘normal’ points for spending £20,000 on your card
• 20,000 bonus points for hitting the spend amount on this offer

I own two Limited Companies. Can I open two cards and get two bonuses, one on behalf of each company?

Yes – Capital on Tap may be able to approve applications from the same applicant for two different businesses that they run.

I / my company previously had a Capital on Tap card but have since closed the account. Am I still eligible for the sign-up bonus?

If your business previously closed a Capital on Tap account prior to January 2022 then it may still be eligible.

You are welcome to submit a new application. These will be assessed on a case-by-case basis. If accepted, you will receive the bonus.

What exchange rate is used on foreign transactions?

Capital on Tap business credit cards come with 0% foreign exchange fees. Any foreign transactions are calculated based on the daily Visa foreign exchange rates, as published on the Visa website.

Can I get the bonus if I sign up for Capital on Tap’s standard card instead of the Business Rewards card?

No. Capital on Tap is only able to offer the bonus to customers signing up for a Business Rewards Credit Card.

You can apply for the Capital on Tap Business Rewards Visa card here.

Our exclusive 30,000 points offer ends on 12th May 2024.