The business credit card that's more rewarding

Your business credit card will often come with some form of protection to help you recover any losses due to fraud, stolen or misuse of credit cards.

Yes, any size business can have a business credit card to make purchases, manage expenses, and pay bills. Small business owners can apply for a business credit card and enjoy benefits such as cashback rewards, exclusive discounts, and expense tracking features.

You need to have a business to be able to qualify for a business credit card. Some providers will accept sole traders though.

A personal guarantee is a legally binding agreement between a business owner (eg. director or shareholder) and a lender. It holds you personally responsible for paying off your credit card debt - even on your business account. Most providers require a personal guarantee as business credit cards are unsecured, meaning you don’t need to offer collateral to secure one.

Most business credit cards, including Capital on Tap, require a personal guarantee.

You can use your Capital on Tap business credit card almost anywhere in the world without incurring foreign fees. 

We don’t apply any charges or commission on transactions above the base exchange rate. 

Many providers allow you to take our extra cards for your employees. Capital on Tap allows you to create an unlimited number of employee cards to your account and set individual spending limits on each card from the Cards page on your portal.

Yes, you can set spending limits and restrict employee card usage with Capital on Tap business credit cards. You can control spending either by setting limits for each billing period or by individual transaction.

Yes, using a business credit card responsibly can help build credit for your business.

Yes, you must have a business bank account to apply for the Capital on Tap credit card.

The process of applying for a business credit card will be different for every provider, but you can typically apply online, by phone, or visiting a branch in person. Make sure to check the eligibility requirements before applying to see if you’re likely to be accepted. 

You’ll need to gather a few bits of personal and business information for the application. This could include: 

• Your legal business name, address and phone number 
• Type of business 
• Monthly turnover

If you’re applying for the Capital on Tap Business Credit Card, you can apply online in just 2 minutes, and most applicants receive an instant credit decision and virtual card access.

Depending on your provider, it could take anywhere from a few days to a couple of weeks for the card to arrive in the post. 

If you’ve been accepted for a Capital on Tap Business Credit Card, you can get instant access to funds with virtual cards. Your physical card will arrive in the post two days later.

Preloading allows you to top up your credit card balance with your own funds, and then use those preloaded funds together with your credit limit. This gives you greater flexibility in managing cash flow, taking advantage of 1% uncapped cashback, and more. Learn more about it at our blog. To get started click here.

We check both personal and business credit when reviewing applications. Personal checks are soft with no credit score impact. Business checks are visible to other lenders. 

Business credit cards do not usually report to your personal credit report. However, many business credit cards require a personal guarantee, meaning you are ultimately personally liable for the debt. Because of this, if you defaulted, it could affect your personal credit score.

It depends on the issuer, but the best business credit cards typically require a personal credit score of 700+. 

A poor business credit score may still qualify for a business credit card with a personal guarantee if you have good personal credit.

The APR (annual percentage rate) on a business credit card can vary depending on the card issuer and your creditworthiness. Generally, business credit cards tend to have higher APRs than personal credit cards. It's important to read the terms and conditions carefully before applying for a business credit card, and to pay off your balance in full each month to avoid high interest charges.

The Capital on Tap Business Credit Card annual rates are as low as 14.95% (variable). Your final offered rates will be determined by looking at a number of factors, including your personal and business credit history, as well as the Bank of England base rate.

Other options include balance transfer cards, purchase cards for expenses, and fuel cards for business driving needs. Each has unique features, rewards, and approval criteria.

The biggest difference is with who is liable: with business credit cards, it’s the business owner who’s liable, but on corporate cards, it’s the company that’s responsible. 

With the Capital on Tap Business Credit Card, you’re able to access the perks of small business credit cards while also being able to issue company cards to your employees.

Your business credit card funds your business whereas your personal credit card funds everything else. Head to our blog to learn more about the different advantages and disadvantages of personal and business credit cards.

Alternatives include business charge cards, bank accounts, and term loans/lines of credit.