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Your questions on our 50,000 points Capital on Tap Visa offer answered

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Last 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 50,000 points, worth £500 cashback or 50,000 Avios.

You can read more about our Capital on Tap offer here. Remember that you need to have a Limited Company or LLP to apply – unfortunately sole traders are not accepted.

HFP Capital on Tap 50000 points sign up bonus offer

As a reminder:

  • the card is available to any limited company or LLP with turnover of £24,000+
  • you receive 20,000 points (convertable into 20,000 Avios or £200 cashback) as soon as you make your first purchase
  • you receive a further 30,000 points (convertable into 30,000 Avios or £300 cashback) if you spend £30,000 within three months
  • the day-to-day earning rate is a very impressive 1 point (= 1 Avios or 1p cashback) per £1 spent

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.

Capital On Tap 50000 points bonus offer

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. You will have personal liability for charges made to the card.

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 benefit from this bonus promotion.

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 50,000 points offer runs to 2nd October 2022.

Comments (10)

  • Andrew P says:

    They also offer e-gift cards as an alternative to cash back with certain retailers.

    • Chas says:

      And at a 2% discount. However, as you’re taking quasi-cash, I’d expect the tax implications remain (but they don’t exist when taking avios).

    • Rob says:

      They do, but it doesn’t solve the tax issue. HMRC has made it clear that miles are not taxable.

      • Save East Coast Rewards says:

        Does that apply to all points schemes or just airline miles? I mean traditionally it was hard to pin a value on airline miles but things like Nectar are easy to value as they have a fixed value at most retailers. Now Avios and Nectar are linked it would make it easier for them to value Avios if they decided to

        • Rob says:

          HMRC has better things to do than start chasing down points valuations, I promise you. This is not the US, where you are taxed on the value of sign-up bonuses.

  • Mick says:

    Any idea when the 20k bonus posts after your first purchase?

    • Rob says:

      Not sure – for spend based bonuses they always post after Month 4, irrespective of how quickly you hit it, because they only check your spend total after 90 days. Will ask about this as obviously it’s slightly different.

    • WJack says:

      It posted a day after my first spend and instantly transferred as Avios to my BA Exec account

  • Neo from the matrix says:

    Declined application. No credit issues on personal or business. In fact ive passed credit from AMEX business and Porsche in recent months with no issues and had a previous COT account which i closed successfully. Very annoying,

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