Capital on Tap Review: 12 Months With the Card (August 2026)

I've used Capital on Tap as my primary business credit card at my UK SEO agency Glide Marketing for over a year. This is my honest 12-month review: what's worked, what hasn't, who it suits and who it doesn't.

Quick Answer: Is Capital on Tap Any Good?

Yes, if you run a UK limited company and want a card for everyday business spend rather than borrowing. No annual fee, 1% back on everything, no foreign exchange fees, and the fastest approval I've seen. The limitation is eligibility, not the product.

Two things to be clear about up front, because plenty of pages (including an earlier version of this one) get them wrong. A personal guarantee is required. And Capital on Tap only lend to UK limited companies registered at Companies House, so if you trade as a sole trader you cannot apply.

Sign up with the bonus: Capital on Tap promo code page.

The detail follows.

How I Use Capital on Tap

I run a UK SEO agency. The card sees roughly £3,000 to £5,000 of monthly business spend across:

• SaaS subscriptions (analytics tools, hosting, design tools).
• Contractor payments where they accept card.
• Client lunches and travel (when relevant).
• Marketing spend (Google Ads, LinkedIn Ads, etc.).
• Office supplies and admin costs.

I pay the balance in full every month, so the card's APR doesn't affect me. The card's job is to be a transactional layer that earns 1p per £1 spent (around £30 to £50 of cashback equivalent per month) and builds business credit history.

The Application Process

This is genuinely the best part of Capital on Tap, and it's why I recommend it as a first business credit card for a newly incorporated company.

1. I clicked the application link from my Capital on Tap promo code page.
2. Filled out my business details: Companies House number, registered address, sole director status, rough business turnover.
3. Soft search on my personal credit file. It didn't affect my personal credit score and isn't visible to other lenders.
4. Instant decision. Within 30 seconds I had a provisional offer including the credit limit.
5. I accepted the offer and signed. A hard search was recorded against the company's business credit file at that point. Nothing was recorded against my personal file.
6. Virtual card available immediately. Within 5 minutes the card was in my Google Pay wallet and I could spend on it.
7. Physical card arrived 5 working days later.

The whole process from clicking apply to having a usable card was under 15 minutes. Compare that to traditional high-street business credit cards, which take 7 to 14 days and run a hard credit check upfront.

The soft-search-first approach matters more than people realise. Most UK business credit cards run a hard check immediately, so if you're declined you've taken a credit-file hit for nothing. With Capital on Tap you can find out where you stand without any mark on your personal credit file at all.

Worth being precise here, because it's the bit most comparison sites blur. The soft search is on your personal credit file and has no impact on your personal credit score, even if you're declined. The hard search is on your business credit file and only happens at sign-up. Capital on Tap never place a hard search on your personal file.

The Rewards Programme

Free card: 1 point per £1 spent. 1 point = 1p when redeemed as cashback, statement credit, or gift cards. No foreign exchange fees, and you can convert points to Avios at 10 points = 8 Avios.

Pro card (£299/year): the same 1 point per £1 on everyday spend (1.25 on preloaded spend), plus a better Avios rate (1 point = 1 Avios), unlimited airport lounge access for the main cardholder at 1,600+ lounges, a metal card, a complimentary Times subscription, and 10,000 bonus points when you spend £5,000 in the first three months.

I'm on the free card. My monthly spend is around £4,000, so I earn roughly £40 to £50 in cashback equivalent each month. That's £480 to £600 a year, which is real money for a card that costs nothing to hold.

The maths on upgrading to Pro: because both cards earn the same 1% on everyday spend, there is no cashback gain from paying £299. Pro is a travel-perks upgrade: the value is in the airport lounges and the 1:1 Avios rate, not a higher rewards rate. I stay on the free card because I don't fly often enough to make the lounge access pay.

For most readers: the free card is the one to start on and, for most UK small businesses, the one to stay on. Only consider Pro if you are a frequent flyer who will genuinely use the lounge access and wants Avios at 1:1. For the full breakdown of point values, Avios transfers and redemption options, see my Capital on Tap rewards explained guide.

Foreign Spend: No Longer a Weakness

This used to be the card's main weakness. The standard card charged a 2.95% foreign transaction fee, which added up on dollar-denominated SaaS. Capital on Tap has since removed foreign exchange fees on both the free and Pro cards, so foreign currency spend now costs you nothing extra and still earns your full 1%.

That change makes Capital on Tap a genuinely good option for foreign spend on its own. A Wise Business account or Revolut card is still worth holding if you receive foreign currency or want the mid-market rate on larger transfers, but you no longer need one just to avoid a card fee on foreign purchases.

Customer Support

Customer support has been reliable but not exceptional. Email responses within 24 to 48 hours. The in-app chat is faster but mostly routes through the same support team. I've had two real interactions in 12 months:

1. Card replacement after I lost my wallet. New card arrived in 3 working days, virtual card was instantly available so no spend interruption.
2. Credit limit increase request at month 9. Approved within 48 hours after Capital on Tap pulled an updated soft credit check.

Both interactions were smooth. The user interface inside the Capital on Tap app and web portal is functional but not particularly modern. It's clearly designed by people who understand business credit, not by people who design consumer apps. That's fine for the use case but it's not the polished experience you get from a Monzo or Starling.

Building Business Credit

This is the underrated benefit. Capital on Tap reports payment history to Experian Business. Twelve months of pay-in-full, on-time card use materially improved my business credit profile.

Concretely: when I applied for a Stripe Capital advance offer six months in (Stripe's small business lending), the underwriting referenced my Capital on Tap repayment history. Without it I would have been a thinner-file applicant.

For UK Limited Companies, building business credit is genuinely useful. It opens access to:

• Better trade-credit terms with suppliers.
• Lower-cost business loans.
• Higher credit limits on future cards.
• Better insurance quotes (some UK insurers price on business credit).

Capital on Tap is one of the simplest, lowest-friction ways to start building this profile.

Capital on Tap vs the Alternatives

vs American Express Business Gold: Amex Gold has better rewards if you spend £20k+ a year and want airline points. Capital on Tap has materially better UK Visa acceptance, no annual fee, and a faster approval process. For most UK small businesses, Capital on Tap is the better default. Full comparison in my Best UK Business Credit Cards 2026 ranking.

vs Tide Business Credit Card: Tide Card makes most sense if Tide is already your business bank. I opened a Tide account and tested it for over two years, and I still hold it, but my day-to-day banking is with Monzo (my full write-up is in my Tide business account review, and the £100 bonus is on my Tide referral code page). Worth knowing before you compare the two: the Tide Business Credit Card is powered by Capital on Tap, so it carries the same Companies House requirement. Tide Card cashback also only works on the Pro tier (£12.50/month), and the rewards rate is lower than Capital on Tap.

vs Barclaycard Business: Barclaycard suits owners who specifically want a high-street banking relationship. Approval is slower, rewards are zero to minimal on the standard tier, and there's no soft-check facility. Capital on Tap wins on speed, rewards and approval friendliness.

vs no business credit card at all: if you're running business spend through a personal credit card, please stop. It's a tax-reporting nightmare, most personal card T&Cs prohibit business use, and you're missing out on the credit-building benefit. For a limited company, Capital on Tap is the lowest-friction first business card. If you're a sole trader, Capital on Tap isn't open to you, so read can sole traders get a UK business credit card instead.

What I'd Improve

A few honest gripes after 12 months:

• Web portal feels dated compared with consumer-fintech standards. The mobile app is fine.
• The best Avios rate sits behind the Pro card. The free card now converts at 10 points = 8 Avios, which is a welcome addition, but serious Avios collectors will want the 1 point = 1 Avios rate that only the £299 Pro card offers.
• Pro is a big jump in price. At £299 a year it is aimed squarely at frequent flyers who will use the lounges. There is no middle tier for someone who wants a little more than the free card without the full travel package.

None of these are dealbreakers. They're things that move the card from "exceptional" to "very good".

Who Should Use Capital on Tap

Best fit:

• UK limited companies in their first three years. There's no minimum trading history, so a company registered last month can apply.
• Owners who want a transactional card for the rewards, not a borrowing facility.
• Anyone who values approval speed over premium rewards.
• People who prefer Visa acceptance over Amex.
• Anyone who wants to build UK business credit history.

Not the best fit:

• Sole traders. You can't apply at all, because Capital on Tap only lend to UK limited companies registered at Companies House.
• Anyone who won't give a personal guarantee. One is required.
• Higher-spending businesses (£20k+/year on the card) who want airline points rather than cashback. Look at American Express Business Gold or Platinum.
• Frequent business-class flyers who want lounge access and 1:1 Avios built into the card. Capital on Tap Pro (£299) covers this, but compare it against Amex Platinum or a dedicated travel card first.
• People with poor personal credit. The soft search lets you check where you stand without any mark on your personal file.

How To Apply (And Claim the £75 Bonus)

1. Visit my Capital on Tap promo code page or apply directly with promo code 2REFM287Z71.
2. Fill in your business details, including your Companies House number.
3. A soft search runs instantly against your personal credit file. You'll see your provisional offer in 30 seconds, with no impact on your personal credit score.
4. Accept the offer and sign. This is the point a hard search is recorded against your business credit file, and where the personal guarantee is signed.
5. Virtual card is in your Apple Pay or Google Pay within 5 minutes.
6. Spend any amount within 30 days to qualify for the £75 sign-up bonus (7,500 points credited within 30 days of your first transaction).

Apply with my Capital on Tap promo code

Frequently Asked Questions

Is Capital on Tap any good?

Yes, if you run a UK limited company and want a card for everyday business spend rather than borrowing. After 12 months of using it at my agency, the free card has no annual fee, earns 1 point per £1 (worth 1p as cashback), charges no foreign exchange fees, and gave me an instant decision off a soft search with a usable virtual card in under 15 minutes. The weak points are a dated web portal and support that answers in 24 to 48 hours rather than instantly. The real limitation is not the product, it is eligibility: Capital on Tap only lend to UK limited companies registered at Companies House, a personal guarantee is required, and sole traders cannot apply at all.

Is Capital on Tap worth it for small UK businesses?

Yes for most UK small businesses. No annual fee on the free card, 1% rewards on every transaction, no foreign exchange fees, soft credit check first, instant decisions and a £75 sign-up bonus with promo code 2REFM287Z71. The optional £299-a-year Pro card adds airport lounge access and a better Avios rate, but the free card covers most needs. After 12 months of using it I'd recommend it as the default UK business credit card unless you specifically want airline points from Amex Business Gold.

Is Capital on Tap a real credit card?

Yes. It's a real Visa Business credit facility, not a charge card or a prepaid card. Capital on Tap is a trading name of New Wave Capital Limited, authorised and regulated by the Financial Conduct Authority under firm reference number 625592 for consumer credit activities. Worth knowing: business credit cards used for business purposes are not regulated by the Consumer Credit Act 1974, so Section 75 does not apply the way it would on a personal card. Visa chargeback is still available.

How does Capital on Tap compare with Amex Business Gold?

Capital on Tap suits most UK small businesses better; Amex Business Gold suits higher-spending businesses with international travel. Capital on Tap has no annual fee on the free card vs £195 a year on Amex Gold (often waived in year one). Capital on Tap's reward is 1p cashback per £1; Amex Gold pays 1 to 2 Membership Rewards points per £1, transferable to airline partners. UK Visa acceptance is meaningfully better than Amex acceptance. For most UK-only small businesses, Capital on Tap is the simpler choice.

What's the credit limit on Capital on Tap?

Credit limits go up to £250,000. Your limit is set individually and is subject to status, based on your business turnover, trading history and credit profile. My own limit doubled within the first 60 days without me asking, but limits are set case by case so I cannot tell you the same will happen to you.

Does Capital on Tap charge an annual fee?

The free Capital on Tap Business Credit Card has no annual fee. The optional Pro card is £299 per year and earns the same 1% cashback, adding a better Avios rate (1 point = 1 Avios), unlimited airport lounge access, a metal card and other travel perks. Neither card charges foreign exchange fees. For most UK businesses the free card is the right choice; Pro only makes sense if you fly often enough to use the lounges.

How long does Capital on Tap take to approve?

Most applications get an instant decision after the soft credit check. The virtual card is usable within minutes of approval; Apple Pay and Google Pay work immediately. The physical Visa card arrives by Royal Mail in 2 to 5 business days. For my application the whole process from clicking apply to having the virtual card in Google Pay was under 15 minutes.

Does Capital on Tap report to credit agencies?

Yes. Capital on Tap reports payment history to Experian Business. Using the card responsibly and paying in full each month is one of the simplest ways for a UK Limited Company to build a business credit profile, which helps with future borrowing and supplier accounts.

What APR does Capital on Tap charge?

The representative APR is 34.96% (variable), subject to status. Worth understanding what that number is: a representative APR has to fold in any product fees, so on the Pro card the £299 annual fee inflates it. Capital on Tap's own marketing line is interest rates from 13.86%. Neither figure is the whole picture on its own. Like any credit card, you avoid interest entirely by paying the balance in full each month. Capital on Tap is best used as a transactional card for the rewards and credit-building benefit, not as a borrowing facility. If you need to carry a balance, traditional bank business loans or specific business overdrafts are usually cheaper.

Is Capital on Tap accepted everywhere?

Yes, Capital on Tap is a Visa card accepted at every UK and international merchant that takes Visa. Neither card charges a foreign exchange fee, so foreign currency transactions cost you nothing extra. UK Visa acceptance is essentially universal.

Can I redeem Capital on Tap points for Avios?

Yes, on both cards. The free card converts points to Avios at 10 points = 8 Avios, and the Pro card at 1 point = 1 Avios, with the British Airways Club or Qatar Airways Privilege Club. Points can also redeem as 1p cashback, statement credit, or gift cards. For serious Avios collectors, the Pro card's 1:1 rate is the draw. My Capital on Tap rewards explained guide has the worked numbers.

What's the difference between the Capital on Tap free and Pro cards?

The free card has no annual fee, earns 1 point per £1 (1p cashback), charges no foreign exchange fees, and converts points to Avios at 10 points = 8 Avios. The Pro card is £299 per year, earns the same 1% cashback, and adds a 1:1 Avios rate, unlimited airport lounge access, a metal card and other travel perks. Because the cashback rate is the same, Pro only makes sense for frequent flyers; most UK small businesses stay on the free card.

The Bottom Line

After 12 months, Capital on Tap is my recommended default business credit card for UK small business owners. No annual fee, predictable 1% rewards, the cleanest approval process on the UK market, and a £75 sign-up bonus that pays for any small frictions you'll encounter in year one.

The one real downside, a slightly dated web portal, is minor. Capital on Tap has removed the foreign exchange fees that used to be this card's main weakness, so there is no longer a spending pattern that rules it out, unless you specifically want the airline points and partners of Amex Business Gold.

For most readers the answer is simple: use my Capital on Tap promo code 2REFM287Z71, get the £75 bonus, hold the card for a year, then decide whether Pro is worth it based on how much you travel.

Related guides:

• Best UK Business Credit Cards 2026: how Capital on Tap ranks against five competitors.
• Capital on Tap Promo Code Guide: full guide to the £75 bonus and how to claim it.
• Best UK Business Bank Accounts 2026: the account I use alongside Capital on Tap.
• Tide Referral Code JJ2WDY: the bank account where I deposit the cashback.
• Wise UK Referral Code: the card I use for foreign payments alongside Capital on Tap.

Mike McDonnell, Founder of Glide Marketing