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Capital On Tap FAQ — 67 answers

Every common question about Capital On Tap, the referral code 2REFY893A52, eligibility, rewards, fees and the application process — answered. Updated for 2026.

Is Capital On Tap a real credit card?
Yes. Capital On Tap is a Visa Business credit card issued by Capital On Tap Limited, which is authorised and regulated by the Financial Conduct Authority (FCA, FRN 725394).
How long does the Capital On Tap application take?
Most applications take around two minutes to complete and receive an instant decision. Approved applicants get a virtual card immediately and the physical card within 3-5 working days.
What is the Capital On Tap referral code for 2026?
The current Capital On Tap referral code is 2REFY893A52. Using it unlocks a 7,500-point welcome bonus (worth around £75) when you spend £5,000 on the card in your first 90 days.
Can I have both Capital On Tap and Amex Business Gold?
Yes. There's no rule against holding both cards, and many UK business owners do — using Amex for high-reward categories and Capital On Tap for FX, suppliers that don't take Amex, and as a backup.
Which card has better cashback for a UK business?
For straight cashback, Capital On Tap is better — 1% with no caps and no annual fee. Amex Business Gold earns transferable points which can be worth more than 1% if redeemed for premium travel, but less if redeemed for statement credit.
Can a sole trader get Capital On Tap?
No. Capital On Tap is only available to UK Private Limited Companies (LTD) and Limited Liability Partnerships (LLP). Sole traders should look at alternatives like Tide, Starling, Funding Circle FlexiPay, or a personal credit card used carefully for business spend.
Does Capital On Tap do a hard credit check?
Only if you accept the credit offer. The initial application is a soft credit check that does not affect your credit score. A hard search is performed only when you choose to proceed with the approved offer.
How long does my company need to be trading before applying?
Capital On Tap typically requires at least three months of trading history. Brand-new companies with no revenue will usually be declined.
What happens if I don't spend £5,000 in 90 days?
You'll keep the card with no penalty, but you won't receive the 7,500 welcome bonus points. Your normal 1% cashback on everything you did spend still applies.
Does the £5,000 spend include refunds?
Net spend is what counts. If you spend £5,500 and refund £600, your net spend is £4,900 — under the threshold. Aim for a buffer of £200-£300 above £5,000 to be safe.
Is 1% cashback a good rate for a UK business credit card?
Yes. 1% with no annual fee and no FX fees is the realistic top of the UK market for unlimited, uncapped cashback. Anything claiming higher rates usually has caps, category restrictions, or annual fees that erode the headline number.
Can a sole trader get a UK business cashback credit card?
Most cashback business cards (Capital On Tap, Barclaycard Select) are limited to LTDs and LLPs. Sole traders are usually limited to debit-card alternatives like Tide or Starling, or carefully-managed personal cashback cards.
Is 1 Capital On Tap point the same as 1 Avios?
Capital On Tap points transfer to Avios at a 1:1 rate. So 7,500 Capital On Tap points becomes 7,500 Avios in your British Airways Executive Club account.
Do Capital On Tap points expire?
Capital On Tap points themselves don't have a published expiry as long as your account remains active. Avios in your BA Executive Club account expire after 36 months of no qualifying activity.
Is it illegal to use a personal credit card for business expenses in the UK?
It's not illegal, but most personal card issuers' terms forbid commercial use. The main practical issues are messy bookkeeping, personal liability, and missed rewards — not legal risk.
Will using a business credit card affect my personal credit score?
Most UK business cards (including Capital On Tap) report to the company credit file primarily. A hard search hits your personal file at application, and a default would also be reported personally — but routine balances and payments do not.
Will applying for Capital On Tap affect my credit score?
The initial application uses a soft search and has no impact. A hard search is only performed if you accept the credit offer, which may temporarily lower your score by 5-10 points.
How many hard searches is too many?
Most credit-scoring models start treating you as higher risk above 4-5 hard searches in a 12-month period. One or two per year is normal and has minimal impact.
Does Capital On Tap have a monthly fee?
No. Capital On Tap has no monthly or annual fee for the standard business credit card. The only charges apply for specific actions like cash advances, foreign transactions outside EUR/USD, or late payments.
What is the Capital On Tap interest rate in 2026?
The representative APR is 35.4% variable on purchases. You only pay interest if you carry a balance beyond the statement due date. Paying in full each month means £0 interest.
How long does it take to build business credit in the UK?
Expect 6-12 months to move from a 'thin file' to a fair or good business credit score with consistent on-time payments and active trade lines. Reaching an excellent rating typically takes 18-24 months.
Does a business credit card help build business credit?
Yes. A business credit card that reports to UK credit bureaus (like Capital On Tap) is one of the fastest ways to build positive payment history on your business credit file, provided you pay in full and on time each month.
How long does Capital On Tap take to approve?
Most Capital On Tap applications get an instant decision in under 2 minutes via a soft credit check. Around 10% are flagged for manual review and clear within 1 working day. The physical Visa card arrives by post within 5 working days.
Can I use Capital On Tap before the physical card arrives?
Yes. Once approved, Capital On Tap gives you a virtual card that you can add to Apple Pay or Google Pay immediately. You can also use the virtual card details for online purchases straight away.
Why is my Capital On Tap application taking longer than expected?
The most common reasons are recent Companies House changes, less than 3 months of trading, low or volatile monthly turnover, or thin business credit file. Manual reviews typically clear within 1 working day during UK business hours.
Does Capital On Tap report to credit bureaus?
Yes. Capital On Tap reports your account, payment history and balance to UK business credit bureaus (typically Experian Business and Creditsafe) monthly. This builds positive trade-line history on your company credit file when you pay on time.
What credit score do I need for Capital On Tap?
Capital On Tap doesn't publish a minimum personal credit score. They focus on company credit, trading history (3+ months), monthly turnover, and the director's basic credit profile. Approvals are common for directors with 'fair' or above credit ratings provided the company has no active CCJs.
Can sole traders get a Capital On Tap card?
No. Capital On Tap is only available to UK Limited Companies (LTD) and Limited Liability Partnerships (LLP). Sole traders, ordinary partnerships, charities, and unregistered businesses cannot apply.
What is the best business credit card for UK sole traders in 2026?
The best alternatives for sole traders are American Express Business Gold (best for travel rewards), Barclaycard Select Cashback (closest cashback-equivalent to Capital On Tap with no annual fee), and the Tide Business Credit Card (no fee, simple integration).
If I become a Limited Company can I then apply for Capital On Tap?
Yes. Once you've incorporated at Companies House and have at least 3 months of trading history through the new company, you can apply for Capital On Tap. Use referral code 2REFY893A52 to claim the 7,500-point welcome bonus (worth £75).
How long does it take to become a Limited Company in the UK?
You can register a UK Limited Company online at Companies House in under an hour for £50. The company is typically active within 24 hours. You'll then need 3 months of trading history before applying to Capital On Tap.
What is the maximum Capital On Tap credit limit in 2026?
Capital On Tap offers credit limits up to £250,000. The £250,000 cap is reserved for high-turnover UK companies (typically £1m+ annual revenue) with multiple years of healthy account history. New cardholders typically start between £5,000 and £25,000.
How often does Capital On Tap review credit limits?
Capital On Tap reviews every account automatically every 4–6 months. Cardholders can also request a manual review after 3 months of account history via the in-app chat — responses typically come within 2 working days.
Will requesting a Capital On Tap credit limit increase trigger a hard credit check?
No. Credit limit reviews use a soft search on the company credit file and don't impact your personal credit score. The only hard search Capital On Tap runs is at initial offer acceptance.
How can I increase my chances of a Capital On Tap credit limit increase?
Pay your statement balance in full and on time every month, use 50–80% of your current limit (showing genuine need), grow your business turnover, keep your Companies House filings up to date, and wait at least 6 months before requesting a meaningful increase.
Is Capital On Tap better than Tide Business Credit?
For established UK Limited Companies that want rewards and higher credit limits, Capital On Tap is better — 1% unlimited cashback, up to £250,000 credit limit, and a 7,500-point welcome bonus with code 2REFY893A52. Tide Business Credit is better for sole traders and newer companies already using Tide for banking.
Can sole traders get the Tide Business Credit Card?
Yes, sole traders with an active Tide bank account in good standing can apply for the Tide Business Credit Card. Capital On Tap does not accept sole traders.
Which has the lower APR — Capital On Tap or Tide?
Tide Business Credit has the lower representative APR at 19.5% variable, compared to Capital On Tap's 35.4% variable. If you plan to carry a balance, Tide is meaningfully cheaper. If you pay in full each month, the APR is irrelevant.
Does Tide Business Credit have a welcome bonus?
No. Tide Business Credit offers no welcome bonus, cashback, or rewards. Capital On Tap offers a 7,500-point welcome bonus (worth £75) with referral code 2REFY893A52 after spending £5,000 in 90 days, plus 1% unlimited ongoing cashback.
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.
Why was I declined for Capital On Tap?
The most common reasons are: business is not a Limited Company or LLP, less than 3 months trading, low monthly turnover (under £2,000), active County Court Judgements, recent director bankruptcy or IVA, overdue Companies House filings, or a thin business credit file with no positive trade lines.
How long after a Capital On Tap decline can I reapply?
There's no formal cooldown period, but reapplying within 30 days almost always results in another decline because the underlying data hasn't changed. Wait 30–90 days, fix the underlying issue (CCJ paid, filings brought up to date, etc), then reapply with referral code 2REFY893A52.
Does a Capital On Tap decline affect my credit score?
No. Capital On Tap uses a soft search at application — both for approvals and declines. A decline doesn't appear on your personal credit file and isn't visible to other lenders.
Will Capital On Tap accept me if I've had a CCJ?
Active CCJs over £500 typically result in decline. Satisfied (paid) CCJs over 6 months old are usually acceptable. If you have a recent CCJ, pay it in full, wait for the satisfied marker to update on the company credit file, then reapply.
Does Capital On Tap integrate with Xero?
Yes. Capital On Tap has a native Xero integration that syncs every card transaction within minutes — including merchant name, amount, VAT estimate, MCC category, and cardholder. Setup takes around 10 minutes from inside the Capital On Tap app or dashboard.
How do I connect Capital On Tap to Xero?
Open the Capital On Tap app, go to Settings → Integrations → Xero → Connect. You'll be redirected to Xero to authorise access, then asked to choose the Xero bank account where transactions should sync. Most users create a 'Capital On Tap Card' (Credit Card type) account in Xero before starting.
Does the Capital On Tap Xero integration capture VAT automatically?
Yes. Capital On Tap estimates VAT on each transaction based on the merchant category and pushes that into Xero. For full HMRC VAT compliance you still need the receipt — the Capital On Tap mobile app's receipt-capture lets you photograph receipts at point of purchase and they attach automatically to the matching Xero transaction.
Which other accounting software does Capital On Tap integrate with?
Capital On Tap offers native integrations with Xero, FreeAgent, Sage Business Cloud, and QuickBooks Online. Xero is the most mature integration; FreeAgent and Sage are similarly automated; QuickBooks works but has occasional category-mapping quirks.
Is Capital On Tap cashback or Avios better?
Cashback gives a guaranteed 1% return. Avios is worth more (typically 1.5p–3p per point) if you redeem on European Club Europe or long-haul Club World flights, but worth roughly the same as cashback (1p–1.4p) on short-haul economy. Choose Avios if you fly BA premium cabins regularly; choose cashback for simplicity and predictability.
What is the conversion rate from Capital On Tap points to Avios?
Capital On Tap points transfer to Avios at British Airways Executive Club at a 1:1 rate. 7,500 Capital On Tap points = 7,500 Avios.
Can I split my Capital On Tap points between cashback and Avios?
Yes. You can choose how to redeem each chunk of points individually in the Capital On Tap app. Many users take the welcome bonus 7,500 points as cashback (£75 statement credit) and redeem ongoing points as Avios for premium-cabin flights.
Do Capital On Tap points or Avios expire?
Capital On Tap points never expire while your account is open and in good standing. Avios at British Airways Executive Club expire if there's been no Avios-earning or redeeming activity for 36 consecutive months — but any earning or redeeming activity (including a Capital On Tap transfer) resets the 36-month clock.
Is the Capital On Tap Business Rewards Card worth £99 a year?
Yes if you spend more than £19,800/year on the card and redeem as cashback, or more than ~£10,000/year if you redeem as Avios at 2p+ per point. Below those spends, stick with the free Business Credit Card.
Can I have both Capital On Tap cards?
Yes, you can hold both the Business Credit Card and the Business Rewards Card on the same account. The total credit limit is shared between them, but each has its own card numbers, statements and rewards earn rate.
What is the APR on the Capital On Tap Business Rewards Card?
The Capital On Tap Business Rewards Card has a representative APR of 30.94% variable, lower than the free Business Credit Card's 35.4% variable. This makes the Rewards Card the better choice if you ever carry a balance.
Does the Capital On Tap Business Rewards Card include travel insurance?
Yes. The Business Rewards Card includes worldwide travel insurance. Terms and exclusions apply — check the policy summary in the Capital On Tap app before relying on it for any specific trip.
Is Capital On Tap better than Revolut Business Credit?
For UK Limited Companies focused on rewards and welcome bonuses, Capital On Tap is better — 1% unlimited cashback (or Avios), credit up to £250,000, and a £75 welcome bonus with code 2REFY893A52. Revolut Business Credit is better only for businesses already deeply embedded in Revolut Business banking who don't mind weaker rewards.
Can I get Revolut Business Credit without a Revolut Business account?
No. Revolut Business Credit is only available to existing Revolut Business customers. Capital On Tap, by contrast, has no banking relationship requirement — apply directly with code 2REFY893A52 regardless of where you bank.
Does Revolut Business Credit pay cashback?
Only on the highest Revolut Business tiers (Scale £79/month and Enterprise). The Free and Grow plans get no cashback. Capital On Tap pays 1% unlimited cashback on every plan, with no monthly fee.
Which has the higher credit limit — Capital On Tap or Revolut?
Both advertise up to £250,000. In practice Capital On Tap's initial limits for new approvals are typically slightly higher (£5,000–£25,000) than Revolut's (£2,000–£20,000), with both growing in line with healthy use and turnover.
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.