Know and request the Capital On Business Rewards credit card

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Capital On Business cards are designed to help small businesses gain access to finance.

The Business Rewards Credit Card does this – but as rewards at the top. With the advantage of earning cashback or notices, there are no charges for non-sterling transactions or withdrawals from ATMs, with easy credit transfers, this card comes with a complete package.

Please note that this card is now available only to limited companies.

Capital On Tap Business Rewards credit card

What makes Capital on Tap business credit cards stand out is the ease of making direct cash transfers to the bank account. With the Business Rewards card, small businesses can benefit from this easy, short-term financing line, but it also has the advantage of earning rewards for themselves. The card offers a 1% refund or 1 avios point for every £ 1 spent, and you will earn 10,000 bonus points if you spend £ 5,000 in the first three months.

It is important to be aware that the card comes with a £ 99 annual fee.

What we like

1% refund or 1 avios point for every £ 1 spent on the card with 10.00 bonus points or 10,000 Avios welcome rewards when you spend £ 5,000 in the first three months.

No exchange rates or electronic withdrawals

Annual fee

£ 99

APR representative

22,9%

Introductory offer

10,000 bonus points or 10,000 Avios when you spend £ 5,000 in the first 3 months

Key scores

5/5                          2/5                          4/5

Perks                      Fees                      APR

Highlights

1% refund or 1 point for every £ 1 spent on the 10,000 welcome bonus card of 10,000 when you buy £ 5,000 in the first 3 months

Ability to transfer money without fees to the bank account

does not charge exchange rate or withdrawals from ATMs

Up to 20 free complimentary cards available for small businesses

Representative example


Representatives

22.9% APR variable
Purchase rate
22.9% by variable

Credit limits assumed
£1,200

Annual fee
£ 99

Result

What makes business credit cards different from others is the ease of transferring cash fees directly to your small business bank account.And with your Business Rewards credit card, you will not only benefit from this easy line of short-term financing, but you can also earn rewards for yourself.The card offers 1% of your money back or 1 avios point for every £ 1 spent and you will receive 10,000 bonus points if you spend £ 5.00 in the first 3 months.However, it is important to note that the card pays a fee of £ 99 per year.

What is good about the card

Access to capital If your company is small, there is something you will certainly need that is access to capital.

Capital On Tap corporate credit cards differ not only in that they provide access to purchasing power when you use the card, but also allow you to make deposits directly into your bank account.

This provides a level of flexibility that other cards do not have. However, it is good to keep in mind that this is good when used for small term financing. The transfer itself may be free, but the funds are not.

And with a well-represented APR, it is better to be used as a revolving credit line, rather than a long-term financing solution.

 Rewards – It is great to be rewarded for your expenses. And with the Capital On Tap Business Rewards card, you can earn 1 point for every £ 1 you buy on the card, which can be exchanged for 1 point (1% refund) or 1 Avios point

 Welcome bonus – In addition to the advantage of winning consecutive rewards, the card also has a welcome bonus. You can earn 10.00 bonus points that you can redeem for £ 100 or 10.00 Avios by spending £ 5,000 with the card in the first few 3 months.

It has no exchange or ATM fees – this card has the added advantage of not paying an exchange rate as well as an ATM withdrawal fee. This means that the cost to use the card is much less than it would be otherwise. However, it is important to note that interest on cash withdrawals is still relatively high, so if you need to withdraw from ATMs, try not to leave them on your card for too long.

Supplementary cards – with these cards you can purchase up to 20 additional free cards for employees or partners, 10 more than the simple version of this card. The card allows you to define individual limits on each card.

What’s good

Annual fee – while you expect to have additional benefits with this card, you will have to pay the £ 99 annual fee for the benefit. Although the simple business card has removed all entry barriers for small businesses with no registration fee, this new Reward version comes with a price tag attached.

When talking about annual fees, it is always good to take into account that the benefits of the rewards in offers outweigh the expense of the card.

Introductory period – Unlike others that have up to 56 interest-free days for card purchases, this does not include interest-free introductory periods. this means that it is better to be used as a small term financing solution – since any balance left on the card can end up generating high interest rates.

How to buy

This card offers one thing that few business credit cards do: The amount of transferring cash fees directly to your bank account.

This gives a level of flexibility that is sometimes not available, as small businesses cannot use a credit card for all expenses.

Although you have to pay a small annual fee for this version, it is in line with what you expected to pay annual fees elsewhere. And they have additional bonuses that once you pay the annual fee, you no longer pay fees associated with non-stellar transactions or cash withdrawals.

In terms of rewards themselves, 1% refund is in line with the refund offers of other corporate credit cards on the market. The most important difference with the Business Reward card is that you can exchange your points on Avios. 

Thus, you will have the option to redeem your points for cash or use them on flights – gifts, hotels or discounted travel offers.

If there is one thing that all companies need, it is Capital. Although an ordinary business credit card offers access to finance, it can usually only be used to make purchases on the card. But not all companies, especially small ones, can use a credit card for all expenses.

A credit transfer facility offers cardholders the choice of how to use their funds. They can use it to buy or send the funds they need right into their account. Which means that they can offer a financing solution with short term.

The main benefit of this type of card feature is that it offers flexibility. If you are a small business that needs a short-term cash increase to pay expenses, the ability to use a credit transfer mechanism can be the difference between meeting payment expectations or not.

Obviously, it is much better to check if the fees would be attributed to this type of transfer and what interest rates could occur. Since most credit cards have a more or less high APR, this financing option is mostly used in the short term. If you can free up the necessary funds to pay your expenses and then repay the amount before interest is charged, you are more likely to feel the real benefit of this financial solution.

How do you sign up?

Applications can only be made online. The application requires the person to provide information about his trade, including, if the person is a small business, his registration number and some personal details.

Applicants receive an immediate response, and if their application is approved, the funds can be accessed immediately online and the person will receive their card within four business days.

Who is this card good for?

This card is good for small businesses that are looking for access to finance, but who want a little more for their spending. It has everything the simple Capital On Tap business card has, but rewards at the top. Thus, cardholders can benefit from the lack of fees for foreign transactions and ATM withdrawals. as well as earning 1% reimbursement or 1 Avios point for every £ 1 gsto, you must pay an annual fee of £ 99 to get these benefits.

This card is also suitable for those companies looking for a little flexibility with their financing options. The ease of transferring credit without fees means that you can be in charge of how to spend your funds, instead of being confined just spending with your card.

Finally, this card is suitable for small and new businesses. To register you must be a UK registered company with more than three months of trading history and an annual turnover of £ 24k. The other requirement is none in the CCJ against you in the past 12 months.

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