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Capital On Tap Fees and Rates Explained (2026)

By Afshin · 25 March 2026 · 5 min read

Capital On Tap markets itself as a no-annual-fee business credit card, which is true. But like any credit card, there are other charges that apply in specific situations. Here's the full 2026 fee schedule, what each charge means, and how to avoid the avoidable ones.

Annual Fee

£0. There is no annual or monthly account fee for the standard Capital On Tap business credit card. This is a genuine no-fee product — you can hold the card for years without spending if needed without any charge.

Interest Rate (APR)

Representative 35.4% variable APR on purchases. This is the rate you pay on any balance carried beyond the statement due date. It's in line with most UK business credit cards but high if you regularly carry a balance.

How to avoid it: pay your statement balance in full each month. If you do, your effective interest cost is £0.

Foreign Transaction Fee

0% on EUR and USD transactions. 2% on all other foreign currencies. The EUR/USD exemption is one of Capital On Tap's standout features and saves serious money for businesses paying USD-denominated SaaS subscriptions or European suppliers.

Cash Advance Fee

2% of the amount, minimum £2. Cash advances also accrue interest from the day they're taken (no grace period). Avoid using a credit card for cash withdrawals — use your business debit card instead.

Late Payment Fee

£20 if you miss a statement due date. The late payment also reports to credit reference agencies, which can drop your business credit score for up to six years.

How to avoid it: set up a Direct Debit for the full statement balance. This costs nothing and guarantees you'll never miss a payment.

Returned Payment Fee

£20 if a Direct Debit or other payment is returned unpaid (e.g., insufficient funds in the linked bank account). Avoidable by maintaining sufficient balance.

Total Cost of Ownership for a Typical UK Business

If you pay your statement in full each month and don't take cash advances, your annual cost of holding Capital On Tap is £0 — and you earn 1% cashback (or Avios) on every transaction. With referral code 2REFY893A52, your year-one return is +£75 from the welcome bonus on top.