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NEW: Earn up to 30,000 bonus points with Capital on Tap’s exclusive HfP offer for SMEs

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It’s a new year and we are kicking it off with a new exclusive HfP offer from Capital on Tap.

If you are a business owner, you can take advantage of Capital on Tap’s latest offer to earn up to 30,000 bonus points as a new credit cardholder.

Until 4th February, you can earn up to 30,000 bonus points when you take out a Capital on Tap Business Rewards Credit Card. These points convert at 1:1 into Avios or into 1p of cash. This means you can receive up to 30,000 Avios or £300!  You can apply here.

Capital on Tap 30,000 points

How does the sign-up bonus work?

You will earn your 30,000 bonus points in two tranches.

Firstly, when you you get the Capital on Tap Business Rewards Credit Card by 4th February 2023, you will get a 10,000 point bonus when you make your first transaction. Even if you only buy a coffee, 10,000 points will be dropped into your account.

The second part of the bonus requires new cardholders to spend £20,000 within the first three months. If you can acheive this, you will get a further 20,000 point bonus.

For some SME owners, spending £20,000 in three months will not be a problem. Don’t worry if you can’t meet this target, however.  You will still get 10,000 bonus points just for making one transaction with your new card.

Remember that 10,000 points convert into 10,000 Avios or £100.

How to apply for the Capital on Tap Business Rewards Visa

This is a HfP exclusive offer, so you MUST apply via this link.

Applications made through the standard Capital on Tap home page will not receive the extra bonus.

Do you qualify for this offer?

This offer is limited to readers who have a business which is incorporated as a limited company or LLP.

At present, sole traders and regular partnerships cannot apply – sorry.

This offer is only available to new Capital on Tap customers.

Capital On Tap Business Rewards credit card bonus

What are the benefits of the Capital on Tap Business Rewards Visa card?

Alongside the sign-up bonus of 10,000 to 30,000 points, here are six additional reasons that HfP readers may like the Capital on Tap Business Rewards Credit Card:

  • It’s a Visa card. Capital on Tap credit cards are Visa cards, making them the ONLY Visa or Mastercard cards that allow a business to earn Avios (and, of course, are much more widely accepted than American Express for B2B transactions).
  • You earn 1 Capital on Tap point per £1 you spend.  Capital on Tap points can be redeemed for 1 Avios per point or redeemed for 1p cashback.
  • You won’t pay FX fees abroad. This is the only Avios-earning credit card, personal or business, which does not charge foreign exchange fees when used abroad.
  • You get quick points transfers to Avios.  Capital on Tap has virtually instantaneous transfers of points into Avios.  They reach your British Airways Executive Club account as soon as you’ve completed a transfer from your Capital on Tap account. There is no risk of missing out on that reward seat.
  • You can cash in your points. If you decide you don’t want any more Avios at any time, Capital on Tap will let you cash-in your non-transferred points for 1p per point of real money. If you choose to redeem your points for cash instead of Avios, you should take tax advice on how the cash should be treated – HMRC does not tax points or miles.
  • Capital on Tap has redesigned the card, introducing a sleek, black design that has a more premium vibe:

On top of these benefits, as a cardholder you would also get:

  • UNLIMITED cards for your company, for free
  • A credit facility of up to £250,000
  • Up to 56 days to pay before interest is incurred on card purchases when you repay in full
  • No UK ATM fees
  • Accounting integrations with Sage, QuickBooks, Xero and more

What are the fees and interest rate?

The annual fee for the Capital on Tap credit card is £99 and is tax deductible. 

With this offer, you can redeem the 10,000 Capital on Tap points earned from your first transaction for £100 cashback or 10,000 Avios, so you already have cancelled out the annual fee.

Your interest rate is based on your business profile and can be as low as 13.6% APR.  The representative interest rate for marketing purposes is 34.3% APR. Capital on Tap’s rates are subject to a ceiling however, which means they won’t increase unchecked in line with the Bank of England’s base rate.

Conclusion

If you are starting the new year in the market for a new business credit card, Capital on Tap is worth considering. The 30,000 point bonus on offer when you spend £20,000 in the first three months is very valuable.

If you can’t spend £20,000 in three months, don’t worry.  Everyone who successfully applies during this promotion will receive 10,000 points (worth £100 or 10,000 Avios) after their first purchase. Your £99 fee is instantly covered and, because the fee is a tax-deductible expense, the net cost to you will be lower.

Some business owners reading this may already have a British Airways Accelerating Business American Express, American Express Business Platinum or American Express Business Gold. You should still consider Capital on Tap in addition to your Amex as it is ideal for use outside the UK (due to 0% FX fees) and at places where American Express is not accepted.

Don’t forget – you have to use this link to apply.

Thank you to Capital on Tap for making this exclusive offer available to our readers. You have until 4th February to apply.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibly 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.

Comments (27)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Dips says:

    Whilst CoT claim to have Quick Books integration, their definition of integration is downloading the statement every month as a text file and uploading it to quick books. (Unless that’s changed in the last 12 months). Not as integrated as other Quick Book partners.

    • Capital on Tap says:

      Hi Dips – we’re working with QuickBooks on building a fully automated integration, which we expect to be able to test and release later this year. We hope to have an update on this soon!

    • James says:

      The Freeagent integration is pretty rubbish as well, stops working all the time. CoT support blame Freeagent, and vice versa.

  • tony says:

    Please be warned that CoT does not integrate in a meaningful way with QuickBooks. You have to manually download the transactions from CoT’s website then load up the file into QB.

    • No longer Entitled says:

      “integration” with Sage is the same manual download and upload process.

      I have been using CoT for about 18mths and find it to be a good product. The only difference between the £99 pa card and the free card is the ability to convert into Avios.

      • The real Swiss Tony says:

        I’m not complaining about CoT – I have been very happy with the card – but the claim that it integrates with QB is questionable from a compliance/FinProm perspective.

        I believe the issue sits squarely with QB as they used to support Amex too but that stopped years back. As a result, I’m marking the start of my 20th year of trading by migrating to Xero.

        • Capital on Tap says:

          Hi Tony – we’re working with QuickBooks on building a fully automated integration, which we expect to be able to test and release later this year. We hope to have an update on this soon!

          • tony says:

            Thanks for the reply but I think you underestimate the amount of heavy lifting required by small businesses in the current situation. Claiming that you offer seamless integration when you patently don’t – and all the how-to guides I can find on the web relate to the US iteration of QB – really is questionable.

            Would be far more grown up to say “we integrate with Xero but have a mediocre work around for other platforms”…

    • L Allen says:

      Excellent integration with Xero though. Transactions import daily, automagically

  • Barry cutters says:

    Tip for anyone wanting an increased limit – mine was pretty low when I first got the card . (£7k) .

    Use it and pay it off either with the weekly DD or the manual payments . I did that for 3 months – spending approx 3x the limit and they increased it to £25k once I asked.

    Was all sorted in a few days

  • TooPoorToBeHere says:

    Can one bend this via one of the usual routes, to get to the £20k target?

    • conspicuous-capybara says:

      Don’t know what the usual routes are but I use it to pay my VAT and corporation tax bills, haven’t had any issues in the two years I’ve been doing it.

      • Dan says:

        Is there a big fee for doing so? Or going via billhop or similar?

      • No longer Entitled says:

        I used via Curve Metal to do the same without issue earlier in 2022. You can prepay tax so that is an option if you are looking to hit the bonus spend. If you accidentally overpay you can claim back. Remember though, it is the Companies money so be careful how you use it and where you send it.

        • No longer Entitled says:

          *Company’s

          • tony says:

            Not sure how it works with curve in the middle but I reclaimed tax overpaid via MBNA a few years back. It went back to the card despite me paying 2% or whatever so I lost the miles.

      • Jonathan says:

        Can you use it to pay corporation tax without incurring a fee ?

  • Henry Young says:

    These guys are clearly in the startup burn cash buying customers phase … doesn’t necessarily bode well for the longer term sustainability of the business. But why not take the product placement money while it lasts 😉

    • Rob says:

      You are missing something (apart from the fact that the business has been going for quite a while now, and has an exceptionally low cost base because everything is built from scratch). These are business credit cards. They will be getting around 2.75% interchange when you spend on them, vs 0.3% on a consumer credit card.

      The £20k you spend to trigger the bonus generates over £500 in interchange fees. Buying you 30,000 Avios from that isn’t exactly a stretch.

  • L Allen says:

    Such a shame that long-standing customers don’t get a loyalty bonus.

    • Peter K says:

      And that sole traders got booted out.

      • Rob says:

        I suspect this is at the behest of Visa who want to more closely control who gets a small business card and who doesn’t, given that the UK Government doesn’t want card companies getting around the interchange fee cap by classifying anyone as a sole trader. There are also issues over marketing of the cards if they go to individuals – as a B2B provider CoT is exempt from a lot of the regulations on credit card marketing.

  • Nate1309 says:

    I have a couple of questions.

    1) if you own more than one company can you hold 2 accounts?

    2) if you are 50/50 owned company can the points be sent to different Avios accounts?

    • Rob says:

      1. Yes
      2. Not sure

      • Capital on Tap says:

        Hi Nate1309 – yes, directors of multiple companies can hold cards for up to 2 of their businesses. And yes on your second question, rewards points can be redeemed to any Avios account of the account holder’s choosing – simply need to enter the desired recipient’s membership number when redeeming.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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