Comparisons
Capital On Tap vs Pleo: Credit Card vs Spend Management for UK SMEs (2026)
By Afshin · · 8 min read
Capital On Tap and Pleo solve different problems for UK SMEs, but they're often compared because both ship physical and virtual cards to your team. Capital On Tap gives you a credit line; Pleo gives you a spend management platform with prepaid debit cards. Here's the head-to-head and a recommendation for which (or both) you should use.
What each one actually is
Capital On Tap is a business credit card issued by Capital On Tap Ltd (FCA-regulated, FCA reference 752622). You're borrowing money up to your credit limit and paying it back monthly, earning 1% cashback or Avios points along the way.
Pleo is a Danish spend-management SaaS that issues Mastercard prepaid debit cards. You pre-fund your Pleo account from your business bank, then issue cards to employees. Spend comes out of the pre-funded balance, not a credit line. Pleo's value is in the software around the cards: approval rules, receipt capture, accounting sync.
Cost comparison
Capital On Tap is genuinely free to hold — no monthly or annual fee, no per-card fee for team cards. You only pay if you carry a balance (35.4% APR) or pay late.
Pleo charges a SaaS fee per user per month: Free plan is up to 3 users, Essential is £39/month for up to 5 users, Advanced is £89/month for up to 10 users, and Beyond is £199+/month for 10+ users. There's no APR because it's not a credit product.
- Monthly fee — Capital On Tap £0 / Pleo £0–£199+
- Per-card fee — Both £0 for team cards
- Cashback — Capital On Tap 1% / Pleo 0%
- Welcome bonus — Capital On Tap 7,500 pts (£75) with code 2REFY893A52 / Pleo none
- Credit line — Capital On Tap up to £250,000 / Pleo £0 (prepaid)
Rewards and cashback
Capital On Tap pays 1% cashback on every transaction, automatically credited each statement period. Plus the 7,500-point welcome bonus (worth £75) for new applicants using code 2REFY893A52.
Pleo pays no cashback. Their pricing model is per-user-per-month SaaS, not interchange-funded rewards.
Software and team controls
This is where Pleo wins decisively. Pleo gives you per-card spending limits, category controls, automatic receipt capture (employees photograph receipts, OCR pulls amounts and VAT), real-time approval workflows, and seamless export to Xero, QuickBooks, Sage, and others.
Capital On Tap offers team cards with per-card limits and basic categorisation, plus Xero/Sage/FreeAgent sync — but the workflow tooling is much lighter than Pleo's.
When to use both
Many UK SMEs above 5–10 employees run Capital On Tap and Pleo in parallel. Capital On Tap is the main credit line and earns the cashback (with the £75 welcome bonus); Pleo is the spend-control layer for ad-hoc team expenses and fieldwork. The cards live in the same wallet but solve different problems.
Frequently asked questions
- Is Pleo a credit card?
- No. Pleo cards are prepaid Mastercard debit cards backed by funds you transfer in advance from your business bank account. There's no credit line. Capital On Tap, by contrast, is a true credit card with up to £250,000 credit limit.
- Can you get cashback with Pleo?
- No. Pleo doesn't offer cashback or any rewards programme. Capital On Tap offers 1% unlimited cashback on every transaction, plus a 7,500-point welcome bonus (worth £75) with referral code 2REFY893A52.
- Which is cheaper — Capital On Tap or Pleo?
- Capital On Tap is free to hold (no annual or monthly fee). Pleo charges £0–£199+/month depending on plan and user count. If you only need one or two cards and want the cheapest option, Capital On Tap wins.
- Should I use Capital On Tap and Pleo together?
- Yes, for many growing UK SMEs this is the standard setup. Use Capital On Tap as the main credit line earning 1% cashback, and use Pleo for team spend control with approval workflows and receipt capture. The cards complement rather than compete.
Ready to apply?
Get £75 free with code 2REFY893A52
Read the full Capital On Tap promo code guide for eligibility, fees and approval times.
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