Independent · Written by a business owner who uses one
UK business credit cards, explained by someone who actually pays the statement
I run a small digital agency and have used the Capital on Tap business credit card for a few years. Apply through our referral link or code and we both receive 7,500 points, worth £75 off your balance, after your first transaction.
Referral link: we both get 7,500 points. Credit is subject to status and eligibility. Capital on Tap advertises rates as low as 13.86% APR (variable) and does not publish a representative APR. Ltd, LLP and PLC only; £24,000 minimum annual turnover.
Capital on Tap at a glance
The card we use, and why
No annual fee, one point per pound on everything, no fee on the USD and EUR software we pay for, and free cards for staff and for each subscription. The Xero sync means card lines arrive in the books without anyone typing them. That combination is why it is the card in my wallet rather than a bank’s.
The honest downside: the credit limit was lower than I expected, and it has not moved in all the years we have had the card. I cover that properly on the credit limit page, because it is the thing most reviews skip.
Capital on Tap referral code
Referral link: we both get 7,500 points
2REFS477A36Takes you to capitalontap.com · Referral link. The code is pre-filled through the link; if you apply on another device, type it into the code box on the application. Both you and we receive 7,500 points (£75 against the balance) once you are approved and make a first transaction within 30 days of activating the card. Credit is subject to status and eligibility.
How the referral works
The 7,500 points, explained in a minute
Apply through our link, or enter the code when you apply, then use the card once. Two things catch people out: the bonus is for brand-new Capital on Tap customers only, and the first transaction has to happen within 30 days of activating the card. The referral code page covers every condition, and the eligibility checker tells you in six questions whether you are likely to qualify.
Credit is subject to status and eligibility. Only approved businesses receive the bonus.
Our verdict, in short
Good card, honest caveats
Written after a few years on the standard free tier, not Pro. We do not take paid placements, and the referral bonus is the same whatever we say.
- Best for
- Ltd companies and LLPs spending on software, ads, travel and suppliers who pay in full each month and want uncapped 1% back with no FX fee.
- Not for
- Sole traders (not eligible), anyone who needs a large limit from day one, or businesses that plan to carry a balance long-term.
- The catch
- Starting limits can be modest and increases are slow and data-driven. Preloading is the workaround Capital on Tap offers.
- Rewards reality
- Cashback is simple and uncapped. Avios convert at 10 points = 8 Avios on the free card; 1:1 needs Pro.
Before you apply
Check you are likely to qualify
Only approved businesses get the bonus. Capital on Tap wants a UK Ltd, LLP or PLC that is active on Companies House, £24,000 minimum annual turnover, no unsatisfied CCJs in the last 12 months, and a director or 25%+ shareholder willing to give a personal guarantee. Sole traders are not eligible, and our checker points you to cards that do accept them.
Run the two-minute checkerSix questions. Nothing is stored.
Tools that give you a number
- Cashback calculatorEnter your monthly card spend and see points, cashback and Avios per year on the free card and Pro, plus the Pro break-even point.
- FX fee calculatorWork out how much a typical 2.75% to 2.99% non-sterling fee costs your business on USD software and overseas suppliers, against a card with no FX fee.
- Interest cost calculatorEnter a balance, the APR you were offered and your repayment to see the interest, months to clear and how it compares with 1% cashback on the same spend.
- Eligibility checkerAnswer six questions to see whether you are likely to qualify for Capital on Tap, or which alternatives fit if you are a sole trader.
Everything about the Capital on Tap card
How the referral code works- ReviewA first-hand Capital on Tap review from a UK agency owner: cashback, employee cards, accounting sync, and the credit-limit problem nobody mentions.
- Fees & APREvery Capital on Tap fee in one table, taken from the credit agreement and FAQ: annual fee, FX, ATM, late payment, Bill Pay and what carrying a balance really costs.
- RewardsHow Capital on Tap points work: the earn rate, what does not earn, Bill Pay, redemption options, the Avios rate on the free card and the 24-month expiry.
- Credit limitWhat we found about Capital on Tap credit limits after years on the card: how limits are set, what affects increases, and why ours has not moved in years.
- EligibilityCapital on Tap eligibility in plain English: Ltd, LLP or PLC, £24,000 turnover, no CCJs, the personal guarantee and what the soft search does. Includes a checker.
- ProA researched look at Capital on Tap Pro: the 1.25% boosted rate, lounge access, 1:1 Avios and exactly how much you need to spend to break even.
- How to applyA step-by-step guide to applying for the Capital on Tap business credit card: where the promo code goes, what you need, timings and the first-transaction rule.
- Is it legit?Is Capital on Tap safe? Who New Wave Capital Limited is, its FCA permissions, the common complaints, and our own interest disclosed.
- Preloading & Smart RepayHow Capital on Tap Preloading and Smart Repay work: topping up beyond your limit, the Pro Boosted Rate conditions, and splitting a bill too big for the card.
- Application declinedWhy Capital on Tap declines applications, from its own six reasons, what a decline does to your credit file, when to reapply and which cards to try instead.
- vs iwocaCapital on Tap vs the iwoca Credit Card from a business that holds both: the published APR, cash access, staff cards, Apple Pay, Xero sync and who each suits.
- AlternativesHonest Capital on Tap alternatives for sole traders, bank customers, Amex points collectors and anyone who needs a bigger limit, with every figure sourced.
How it compares
Every comparison is built from the issuers’ own pages, with the date we checked them. We tell you who should pick the other card.
- Capital on Tap vs Amex Business
- Capital on Tap vs Barclaycard
- Capital on Tap vs Revolut Business
- Capital on Tap vs high-street banks
Latest news
All news- BA Amex Accelerating Business card cut Avios earning to 1.25 per £1 on 7 October 2026
- Bank Rate held at 3.75% on 17 September 2026: what it means for variable card rates
- Budget 2026: what the 28 October Budget means for small limited companies
What’s new on this site
- : Capital on Tap vs iwoca, travel cards, Preloading, what to do if you are declined, Section 75, cashback and tax, an interest cost calculator and a glossary.
- : every UK business card compared in one table, six by-need comparisons, four researched card reviews and two new head-to-heads.
- : site launched with 10 Capital on Tap pages, 6 comparisons, 12 guides and 3 tools.
- Figures verified against Capital on Tap’s terms, FAQ and credit agreement on 28 October 2026.
Compare UK business credit cards by what you need
Not every business can or should use the card I use. These pages compare every UK business card we track against one requirement, with each figure taken from the issuer’s own page.
- Cashback cardsUK cashback business credit cards compared on rate, monthly thresholds, annual caps and fees, with the effective rate at different spend levels.
- No FX fee cardsUK business credit cards that charge 0% on non-sterling spend, the ones that charge 2.95% to 2.99%, and what the difference costs on USD software and travel.
- No annual fee cardsUK business credit cards with no annual fee, the waivers on £30-a-year bank cards, and the conditions that decide whether a free card is really free.
- For startupsWhich UK business credit cards a newly incorporated company can get: trading-history rules, turnover floors, bank-account requirements and personal guarantees.
- No bank switchMost high-street business credit cards require that bank's current account. These UK cards work alongside the account you already have.
- Employee cardsWhat UK business credit cards charge for employee cards, how many you can have, and the spend controls each issuer offers.
- Travel and Avios cardsUK business credit cards for travel compared: lounge access, Avios per pound, FX fees and travel insurance, with worked examples and who each card suits.
Sources
- Capital on Tap Refer a Friend Programme terms (source last updated 29 April 2025)
- Capital on Tap Business Credit Card page
- Capital on Tap FAQ
- Capital on Tap homepage
Figures last checked 28 October 2026. If something has changed, tell us and we will correct it.