How do I cancel my Capital On Tap account?

Redeem any remaining points first (they're forfeited on closure), pay your statement balance to £0, then request closure via the in-app chat in the Capital On Tap app. The team will freeze the card immediately and complete formal closure within 5–7 working days.

Does cancelling Capital On Tap hurt my business credit score?

Closing the account stops new monthly reporting but does not remove your existing positive payment history — that stays on the UK business credit file for 6 years from closure. Closing does reduce your total available business credit, which can mildly increase utilisation on any remaining cards.

Can I reopen a closed Capital On Tap account?

No. Closed Capital On Tap accounts cannot be reopened. You'd need to apply afresh as a new customer, and welcome bonuses (including the 7,500-point bonus with code 2REFY893A52) only apply to genuinely new customers. If you might want the card again later, consider keeping the account open rather than closing.

Account Management

How to Cancel Capital On Tap (and What Happens to Your Points) — 2026

By Afshin · 20 April 2026 · 5 min read

Closing a credit card the wrong way can hurt your business credit file, lose you accumulated rewards, and leave loose ends. Here's the right way to cancel a Capital On Tap account in 2026 — including how to cash out your points first.

Step 1: Redeem your points first

Capital On Tap points are forfeited when the account is closed. Before requesting closure, redeem any remaining balance — either as cashback (100 points = £1 statement credit), as a travel booking via the in-app travel portal, or transferred to British Airways Executive Club as Avios (1:1 rate, useful if you don't want to lose them).

Step 2: Pay your statement balance to zero

Capital On Tap will not close an account with an outstanding balance. Either pay the full balance via the app or wait for the next direct debit to clear it. Once your balance reads £0 and there are no pending transactions, you're ready to request closure.

Step 3: Request closure via in-app chat

Open the Capital On Tap app, go to Help & Support, and message the team requesting account closure. They will confirm within one working day, freeze the card immediately to prevent new transactions, then process the formal closure within 5–7 working days.

Step 4: Confirm with a final-statement check

Capital On Tap will send a final closure confirmation email and a final statement showing £0 balance. Keep these — useful evidence if any disputes arise about the date the account closed.

What happens to your business credit file

Closure stops monthly reporting to UK business credit bureaus (Experian Business, Creditsafe), but your existing positive payment history remains on the company file for 6 years from the closure date. So a well-run Capital On Tap account closed in 2026 still shows on your credit file as a positive trade line until 2032 — which actually helps your business credit score during that window.

Closing also reduces your total available business credit, which can mildly increase your utilisation ratio on any remaining cards. If you have other open business cards, factor this in.

Can you reopen a Capital On Tap account later?

No — once closed, the account cannot be reopened. You'd need to apply afresh, which means a new soft search, new underwriting, and a new welcome bonus would not apply (welcome bonuses are for genuinely new customers only). For this reason, if you might want the card again, consider downgrading to the free Business Credit Card or simply leaving the account open and unused rather than closing it.

Frequently asked questions

How do I cancel my Capital On Tap account?: Redeem any remaining points first (they're forfeited on closure), pay your statement balance to £0, then request closure via the in-app chat in the Capital On Tap app. The team will freeze the card immediately and complete formal closure within 5–7 working days.
What happens to my Capital On Tap points if I cancel?: Any unredeemed Capital On Tap points are forfeited at closure. Always redeem your points first — either as cashback (100 points = £1 statement credit) or transferred to Avios at British Airways Executive Club (1:1 rate) before requesting closure.
Does cancelling Capital On Tap hurt my business credit score?: Closing the account stops new monthly reporting but does not remove your existing positive payment history — that stays on the UK business credit file for 6 years from closure. Closing does reduce your total available business credit, which can mildly increase utilisation on any remaining cards.
Can I reopen a closed Capital On Tap account?: No. Closed Capital On Tap accounts cannot be reopened. You'd need to apply afresh as a new customer, and welcome bonuses (including the 7,500-point bonus with code 2REFY893A52) only apply to genuinely new customers. If you might want the card again later, consider keeping the account open rather than closing.

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