Comparisons

Capital On Tap vs Amex Business Gold 2026: Verdict

By Afshin · 10 April 2026 · 7 min read

Capital On Tap and American Express Business Gold are two of the most-recommended UK business cards, but they're aimed at very different customers. This comparison breaks down rewards, fees, acceptance, welcome bonuses, and which card wins for different types of UK businesses in 2026.

At a Glance

Capital On Tap is a no-fee Visa Business card focused on simple cashback, instant approval, and small-to-medium spend. Amex Business Gold is a premium charge card with a £195 annual fee (free in year one), much higher reward potential on big spend, and the famous Amex acceptance limitations.

• Capital On Tap: £0 fee · 1% cashback · Visa · 0% FX
• Amex Business Gold: £195 fee (free yr 1) · 1 MR point per £1 · Amex · 2.99% FX

Welcome Bonus Comparison

Amex Business Gold offers up to 20,000 Membership Rewards points when you spend £3,000 in the first three months — worth roughly £100-£200 depending on how you redeem.

Capital On Tap's bonus with referral code 2REFY893A52 is 7,500 points (worth £75) credited after your first card transaction. Smaller, but no annual fee to claim it back, and the bonus value is more predictable.

Ongoing Rewards

Capital On Tap pays a flat 1% cashback on everything with no caps or categories — what you see is what you get.

Amex Business Gold earns 1 Membership Rewards (MR) point per £1, which is harder to value precisely but typically lands between 0.5p and 2p per point depending on transfer partner. If you transfer to airline or hotel partners and book premium travel, MR can outperform 1% cashback significantly. If you redeem for statement credit, you'll often get less than 1%.

Acceptance: Visa vs Amex

This is the deal-breaker for many UK businesses. Capital On Tap runs on Visa, which is accepted essentially everywhere card payments are taken.

Amex acceptance in the UK has improved but still has gaps — many small independent suppliers, taxis, certain online merchants, and most government payments don't accept Amex. If your supplier base skews to small UK businesses, Capital On Tap is the safer everyday card.

FX Fees

Capital On Tap charges 0% on EUR and USD transactions, which can save thousands per year if you buy software or pay overseas contractors in those currencies.

Amex Business Gold charges a 2.99% non-sterling fee on every foreign-currency transaction. On £20,000 of annual USD spend, that's a £600 difference in Capital On Tap's favour.

Which Should You Choose?

Choose Capital On Tap if: you're a small-to-medium UK limited company, you want simple cashback, you have foreign-currency spend, and you want a card accepted everywhere. Use referral code 2REFY893A52 for the £75 bonus.

Choose Amex Business Gold if: you spend £30,000+ per year, you can use Membership Rewards for premium travel, and you've checked your key suppliers accept Amex.

Many UK businesses actually carry both — Amex for the points-earning suppliers and Capital On Tap as the everyday backup.