Capital on Tap says it’s the answer for certain small businesses today, excluding sole proprietorships, new companies, or businesses with less than $2,500 in monthly sales.
The Capital on Tap card promises a two-minute application process, a response within 48 hours, and card delivery within four days. The no-annual-fee card earns 1.5% cashback on all purchases, which may appeal to those who don’t want to track spending categories.
Learn more about the Capital on Tap credit card’s features, welcome offer, rewards rate, and fees. Discover how you can apply for a Capital on Tap credit card with the information provided in the article.
- What Are the Features of the Capital on Tap Credit Card?
- What Is the Rewards Rate for the Capital on Tap Credit Card?
- What Are the Perks of the Capital on Tap Credit Card?
- What Are the Fees of the Capital on Tap Credit Card?
- Who Can Apply for a Capital on Tap Credit Card?
- How the Capital on Tap Credit Card Compares
What Are the Features of the Capital on Tap Credit Card?
The Capital on Tap Business Credit Card is a good low-cost option for small business owners who want to keep things simple. It offers a card with a very high credit limit, low-end APR, and a flat 1.5 percent cashback rate, and no annual fee.
With this card, it’s easy to get rewards on your spending without having to keep track of categories or switch between cards. If you qualify for the low-end APR, you could get the room you need to pay for big expenses. Plus, applying doesn’t hurt your credit score in any way.
The Capital on Tap Business card may be better than some of the best business credit cards regarding long-term value and flexibility.
The card is a good low-maintenance choice, but its high-end APR is very high, and it has few features that make it the best choice for earning rewards, paying for business expenses, or getting business-focused perks.
Is There a Welcome Offer for Capital on Tap Credit Card?
The Capital on Tap card’s welcome offer is worth it, but it’s expensive. Spend $15,000 in three months and get $200 back. Even though the Capital on Tap Business card earns points for any sign-up bonus, $200 is preferable.
Even though a sign-up bonus shouldn’t be your main reason for getting a card, it can sometimes make the difference between two cards that are otherwise the same. Compared to other flat-rate business cards, this makes the Capital on Tap Business card a little less attractive.
What Is the Rewards Rate for the Capital on Tap Credit Card?
Capital on Tap’s rewards program is simple. No matter how much you spend, you get the same rewards. Small-business owners who want to put all their spending on one card or add a card that earns more than 1% back on general purchases should consider this card.
With the Capital on Tap Business card, you’ll get 1.5% cashback on everything you buy. This is a common flat rate for a business rewards card, but it’s not the highest rate you can get, even if you don’t want to pay an annual fee.
Some business cards provide 2% cashback or 2 points per dollar spent and no yearly fee. If you want a card that offers you the same rate on all purchases, there’s no reason to choose the Capital on Tap Business card and its 1.5% cashback.
How Can You Redeem Rewards on Capital on Tap Credit Card?
With the Capital on Tap Business card, it’s easy to cash in your rewards: you can turn them into a statement credit to pay off your balance. This is the most common way to use cash-back cards, making it easy to cut costs a little bit every month.
Some business cards let you redeem rewards for travel, gift cards, online shopping, and more. Some travel-focused business cards let you transfer points to airline and hotel loyalty partners, which can boost their value.
The Capital on Tap Business card’s terms and conditions says that the issuer may sometimes offer other ways to use points, like for travel or shopping, but it’s hard to know which or how often.
What Are the Perks of the Capital on Tap Credit Card?
Capital on Tap’s credit limit can be raised up to $50,000, much more than most business cards. If you need a lot of buying power but don’t want a business credit card, consider Capital on Tap. However, a $50,000 cap isn’t guaranteed.
Capital on Tap’s business card application process is also unique. When you apply for a new credit card, your credit is checked. This decreases your credit score for two years. Capital on Tap Business card prevents that. The application won’t affect your credit.
If you wish to keep your credit score constant, the Capital on Tap Business card may be a smart alternative.
What Are the Other Perks of the Capital on Tap Credit Card?
The low fees on the Capital on Tap Business card are also a big plus. With this card, there are no foreign transaction fees, so you and your employees can travel abroad and earn points without worrying that fees will cut your rewards.
In the same way, you get an unlimited number of cards at no extra cost. This means you can easily give cards to your employees and earn rewards on all their business purchases.
As a Visa Corporate Card, the Capital on Tap Business card comes with a few basic benefits, such as a waiver for damage to rental cars and help with travel and emergencies. The issuer’s website also includes information about upcoming accounting integrations with tools like Xero, FreeAgent, Quickbooks, and others.
What Are the Fees of the Capital on Tap Credit Card?
Before applying for the card, you should evaluate the Capital on Tap credit card’s interest rate, annual fee, and perks and bonuses. Please refer to the below if you want further details regarding the Capital on Tap credit card charges and fees.
- Annual Fee – $0
- Regular APR – 9.99% – 34.99% fixed APR on purchases
- Balance Transfer fee – N/A
- Foreign Purchase Transaction Fee – None
- Late Payment Fee – Up to $29
- Cash Advance – None
- Returned Payment – None
You could get a variable APR as low as 9.99 percent, which is one of the lowest rates on a business card and much lower than the average credit card APR. However, you could also get a rate as high as 34.99 percent, one of the highest rates we’ve seen on a business card.
That’s a huge range of possible APRs; the highest one is even higher than some credit cards for building credit and store credit cards.
What Is Capital on Tap’s 24/7 Chat Support Service?
Even though chatbots and other forms of automated virtual assistance can provide answers to some questions, there are times when it is necessary to speak with a real person.
With Capital on Tap’s round-the-clock, live phone customer care, you can accomplish precisely that, and you can do it when it’s most convenient for you.
Who Can Apply for a Capital on Tap Credit Card?
Companies that have been in business for at least six months and make at least $2,500 a month can get the Capital on Tap business credit card. It is currently not available for sole proprietors, charities and non-profits, trusts, and clubs.
Capital on Tap doesn’t have a hard minimum credit score, but applicants with a FICO score of 670 or higher have the best chance of being approved. Capital on Tap only does a soft credit check so that applying won’t hurt your personal or business credit score.
To apply, you must have a US-based company that has been in business for more than three months and makes at least $30,000 a year.
How Can You Apply for a Capital on Tap Credit Card??
To apply for the card, you must visit the Tap on Capital website and complete the following steps to apply.
- At the top of the page, click on “Business credit cards”
- Click on “Free Signup” or “Get perks for your business”
- Fill out the information about yourself and your business that is asked for, check the boxes, and then click “Submit.”
Most applications are decided on within 48 hours, and your Capital on Tap business credit cards will arrive within four days if approved. It is also important to note that with this card, you can get as many employee cards as you want.
How the Capital on Tap Credit Card Compares
The Bank of America Business Advantage Unlimited Cash Rewards card appears to be another 1.5 percent flat-rate business cash back card with no annual fee. However, if you have a financial link with Bank of America, this card may provide unrivaled value thanks to the Preferred Rewards program.
Depending on how much money you keep in qualifying Bank of America business deposit accounts and Merrill business investment accounts, you could get a bonus of 0.75% to 2.62% on all of your eligible purchases. Without a doubt, you won’t find a business card with a higher flat rate than that one.
Moreover, the card comes with an introductory APR offer, a more manageable sign-up bonus, and a more sensible variable APR range of (15.24% to 25.24%).
Capital on Tap’s Contact Details
Capital on Tap is ideally situated to assist small businesses in the UK and the US, thanks to its presence in Atlanta, New York, London, Cardiff, and Edinburgh. Capital on Tap’s primary location is 56 Shoreditch High Street, 7th Floor, The Tea Bldg, London E1 6JJ, United Kingdom.
For the quickest answer regarding your credit card concerns, you may call them at 020 8962 7401.
Conclusion
The Capital on Tap Business Credit Card is a solid choice if you run a small business and value simplicity. A high credit limit is one of the perks, along with a low-interest rate, a flat cash-back rate of 1.5 percent, and no annual fee.
Disclaimer: There are risks involved when applying for and using Capital on Tap credit products. Consult Capital on the Tap credit card’s Terms and Conditions page before agreeing to anything.
