Capital On Tap FAQ — 187 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) after your first card transaction.

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 does not publish a minimum trading-period requirement, but they require £24,000+ annual turnover (~£2,000/month). Brand-new companies with no verifiable turnover, or established companies under the revenue threshold, will usually be declined.

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, being close to the 12-month trading / £24k revenue eligibility threshold, low or volatile monthly turnover, or a 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, monthly turnover (£2,000+/month minimum), and the director's basic credit profile. Approvals are common for directors with 'fair' or above credit ratings provided the company has no unsatisfied CCJs in the last 12 months.

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 your new company has annual turnover of £24,000+ (~£2,000/month) flowing through its business bank account, you can apply for Capital On Tap. There is no published minimum trading-period requirement, but underwriters need to see verifiable turnover. 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 can then apply to Capital On Tap once the company has verifiable trading turnover of £24,000+ per year (~£2,000/month) through its business bank account — there is no fixed minimum trading-period requirement.

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, credited after your first card transaction, plus 1% unlimited ongoing cashback.

Can I have both Capital On Tap and Tide Business Credit?

Yes. They are separate products from different companies. Many UK SMEs bank with Tide and use Capital On Tap as their main spending card to earn 1% cashback and the 7,500-point welcome bonus with code 2REFY893A52.

Will applying for Capital On Tap affect my Tide account?

No. They are separate companies. Capital On Tap runs its own credit check (a soft search initially, a hard search only if you accept an offer), which has no impact on your Tide banking relationship.

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 UK Ltd, LLP or PLC, annual turnover below £24,000 (£2,000/month), unsatisfied County Court Judgements in the last 12 months, recent director bankruptcy or IVA, overdue Companies House filings, or a thin business credit file with no positive trade lines. Capital On Tap does not publish a minimum trading-period requirement.

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.

Will Capital On Tap approve me with a CCJ?

Only if the CCJ is satisfied, more than 24 months old, and the rest of your file is clean. Active or recent (under 24 months) CCJs are typically a hard decline regardless of company strength.

Does Capital On Tap check my personal credit or just the company?

Both. The director's personal file is checked at application (soft search) and again on accepting the offer (hard search). A clean company file does not compensate for a damaged director file.

How long should I wait between Capital On Tap applications?

At least 3 months. Capital On Tap operates an internal cooldown, and reapplying inside that window almost always returns the same decline regardless of credit changes.

Can I add a co-director with better credit to improve my chances?

Yes. If your Ltd company has multiple directors, you can nominate the director with the strongest personal credit file as the primary cardholder. This is a legitimate, common approach for newer Ltds where the founder's credit is weaker.

Can I get Capital On Tap if my CCJ is satisfied but only 12 months old?

Almost certainly not. Capital On Tap's underwriting treats satisfied CCJs under 24 months old as a hard decline in most cases. Wait until 24 months from the satisfaction date, then reapply.

Does a Capital On Tap soft search count as a CCJ check?

Yes. The soft search at application includes a full credit file pull, which exposes any CCJs whether active or satisfied. There's no way to apply without the CCJ being seen.

Will my Limited company's CCJ affect my personal Capital On Tap application?

It will be visible on the company credit file and may contribute to a decline, but director-level CCJs are weighted much more heavily. A clean director file with a small, satisfied company CCJ is often still approvable.

Can I appeal a Capital On Tap decline based on a CCJ?

Capital On Tap doesn't operate a formal appeals process. Your only options are to fix the CCJ status (pay and certify) or wait until it ages out, then reapply after the 3-month internal cooldown.

Can I get Capital On Tap without a personal guarantee?

No. The personal guarantee from the primary director is a non-negotiable requirement on every Capital On Tap account. There is no PG-free version of the product.

What happens to the personal guarantee if I sell my company?

The PG stays with you personally even if you transfer the company shares to a new owner. You'd need to formally close the Capital On Tap account (paying the balance to zero) to release the guarantee. New owners cannot inherit the PG.

Does a Capital On Tap personal guarantee show on my personal credit file?

Not while the account is in good standing. Capital On Tap reports company-level activity to business credit bureaus. The PG only appears on your personal file if Capital On Tap calls on it after a default — at which point it becomes a personal debt and is reported normally.

Can I cap my personal guarantee at less than the credit limit?

Capital On Tap's standard PG is capped at the credit limit but cannot be capped below it. If you want lower personal exposure, request a lower credit limit through the portal — your PG ceiling moves down with the limit.

Does Capital On Tap charge a fee on USD or EUR online purchases?

Yes. Any transaction not billed in GBP — including online purchases from US or EU merchants billed in their local currency — incurs the 2.99% foreign transaction fee.

Is there a Capital On Tap FX fee waiver for the Rewards card?

No. Both the standard Business Credit Card (£0/yr) and the Business Rewards Card (£99/yr) charge 2.99% on non-GBP transactions. The Rewards card's premium fee buys you Avios at 1.5x rate, not FX waiver.

Can I avoid the Capital On Tap FX fee using DCC?

No — using DCC (paying in GBP at a foreign card terminal) usually costs more, not less. The terminal's FX rate is typically 4-7% worse than Visa's, more than offsetting the 2.99% Capital On Tap fee. Always pay in the local currency.

How long are Capital On Tap statements available to download?

Indefinitely while your account is open. If you close your account, you can request historic statements by emailing support@capitalontap.com — they typically respond within 5 working days.

Can I get a Capital On Tap statement in CSV format?

Yes, via the web portal only (not the mobile app). Account → Statements → select month → CSV icon. The CSV includes transaction date, merchant, amount, FX details, and category.

Do Capital On Tap statements include VAT breakdown?

Statements show the gross transaction amount only. Capital On Tap is not legally a VAT-receiptable supplier (the merchants you paid are). For VAT, you need the original supplier receipts. The Xero/QuickBooks integration auto-categorises VAT-rated transactions for you.

Does Capital On Tap charge to use Apple Pay or Google Pay?

No. Wallet payments cost the same as a physical card tap or chip-and-PIN. There's no surcharge from Capital On Tap, and you earn the same 1% cashback or Avios on every wallet transaction.

Can I add Capital On Tap to multiple iPhones or wallets?

Yes. You can add the same card to Apple Pay on iPhone, Apple Watch, iPad and Mac simultaneously, and to Google Wallet on multiple Android devices. Each device requires SMS verification.

Why is the contactless limit higher with Apple Pay than the card?

Apple Pay and Google Pay use biometric authentication, which the FCA classifies as Strong Customer Authentication. SCA payments are exempt from the £100 contactless cap that applies to non-authenticated card taps.

Is Capital On Tap covered by Section 75?

No, in almost all cases. Section 75 of the Consumer Credit Act 1974 covers individual consumers, not Ltd companies or LLPs. Since Capital On Tap is exclusively a business credit card, Section 75 does not apply to standard business purchases.

Can I claim a refund from Capital On Tap if a supplier goes bust?

Yes via Visa Chargeback, provided you paid for goods or services that were not delivered. File within 120 days of the expected delivery date through the cardholder portal — Capital On Tap will pursue the claim with Visa even if the merchant has entered insolvency.

How long does a Capital On Tap chargeback take?

Capital On Tap acknowledges and provisionally credits within 10 working days for clear-cut cases. Full Visa chargeback resolution takes 45-90 days, depending on whether the merchant disputes the chargeback (which triggers a 'representment' cycle).

What's the Capital On Tap fraud helpline number?

020 3733 5000 in UK office hours. For out-of-hours, freeze the card via the mobile app first (Account → Card Controls → Freeze) and call as soon as the line opens.

Can a contractor on a one-month-old Ltd get Capital On Tap?

Usually not. Although Capital On Tap does not publish a minimum trading-period rule, they require £24,000+ annual turnover (~£2,000/month) — most one-month-old PSCs won't have enough verifiable invoiced revenue yet. Wait until the company is consistently invoicing above £2,000/month before applying.

Does my IR35 determination affect Capital On Tap eligibility?

No. Capital On Tap doesn't ask about IR35 status, and HMRC's IR35 view doesn't affect the company's ability to hold a credit card. Inside-IR35 contractors are treated the same as outside-IR35 by Capital On Tap.

Can I use Capital On Tap if I'm contracting through an umbrella company?

No. Capital On Tap requires you to be a director of the applicant company. Umbrella employees aren't directors of the umbrella, so they can't apply via that route. Personal cashback cards are the better fit if you're umbrella.

Will Capital On Tap affect my ability to claim mortgage as a contractor?

Not directly. Capital On Tap reports to business credit bureaus, so it doesn't appear on your personal credit file unless you default. Mortgage lenders look at your personal file for contractor mortgages, so a clean Capital On Tap account in good standing has no negative effect.

How much is the Capital On Tap late payment fee?

£12 per missed payment in 2026. This is charged to the card as soon as Capital On Tap is notified of the failed Direct Debit (or the missed manual payment).

Will one missed Capital On Tap payment hurt my business credit score?

Only if it's reported to business credit bureaus, which typically happens after the second consecutive missed payment (around 30 days late). If you fix the issue and pay within ~3 working days of the first failed attempt, there's usually no credit file impact.

Can I change my Capital On Tap Direct Debit date?

No. The Direct Debit always runs on your statement due date, which is fixed by your account anniversary. You can change which bank account it pulls from, but not when. If timing is a problem, switch to manual payment and pay early.

Does Capital On Tap accept Standing Orders instead of Direct Debit?

Capital On Tap technically accepts Standing Orders but doesn't recommend them — they don't auto-adjust for the variable monthly balance, so you'd over- or underpay. Direct Debit is the only payment method Capital On Tap can guarantee to clear the statement balance correctly.

Can I have both Capital On Tap and Funding Circle FlexiPay open at the same time?

Yes, and many UK SMEs do. They report to different bureaus and don't compete with each other in underwriting. Open Capital On Tap first (easier to qualify), then add FlexiPay once you have 12+ months of trading history.

Is Funding Circle FlexiPay cheaper than Capital On Tap?

If you carry a balance, yes — FlexiPay's flat fees work out to roughly 10-12% APR equivalent vs Capital On Tap's 29.95%. If you pay Capital On Tap in full each month, Capital On Tap is free (and earns cashback), making it cheaper in that scenario.

Can FlexiPay pay for things Capital On Tap can't?

Yes. FlexiPay sends funds to your business bank account, so you can use it to pay suppliers who don't accept cards, settle invoices via bank transfer, or cover wages and tax bills — none of which Capital On Tap can do directly.

Does applying for one affect approval for the other?

Marginally. Both check director credit (FlexiPay does a hard search; Capital On Tap a soft search at application). If you'll apply for both, do Capital On Tap first (no impact on credit file from the soft search), then FlexiPay 1-2 months later.

Can I get Capital On Tap if I'm self-employed in the UK?

Yes if you're a Limited Company director or LLP member. No if you're a pure sole trader without a registered company — but you can incorporate a Ltd online for £12 in 24 hours and then apply.

How exactly does the £75 welcome bonus work?

Apply with referral code 2REFY893A52, get approved, and make any single card transaction. 7,500 points (worth £75 in cashback or as 7,500 Avios) are credited to your rewards balance within a few days. There's no minimum spend, no 90-day window — just one transaction.

Can I cash out the points or do I have to spend them on travel?

You can cash out at any time. 1 point = 1p, credited directly to your card balance as cashback. Or you can transfer points 1:1 to Avios for British Airways flights. Or you can take cashback and spend it however you like — including a holiday.

How many Avios is the welcome bonus worth?

7,500 Avios. That's enough for a one-way short-haul economy reward flight on British Airways (London to Amsterdam, Paris, Dublin, Edinburgh, etc.) once you add the cash component for taxes and fees.

Is there an annual fee?

No. Capital On Tap has no annual fee, ever. The £75 bonus and the 1% cashback are net of zero costs as long as you pay your statement in full each month.

Can a sole trader use this card?

Not directly. Capital On Tap is currently limited to UK Ltd, LLP and PLC businesses. Sole traders need to incorporate a Limited Company first, which costs £12 and takes 24 hours via Companies House. Once incorporated and producing £24,000+ annual turnover (~£2,000/month) through the company's business bank account, you can apply with code 2REFY893A52.

What credit score do I need?

Capital On Tap doesn't publish a minimum personal credit score, but most successful applicants have a fair-to-good Experian score (~700+) with no recent CCJs, IVAs, or bankruptcies. The application starts with a soft search, so checking eligibility costs you nothing.

How fast does the £75 actually arrive?

Bonus points typically appear in your rewards balance within 3–5 working days of your first card transaction settling. You can convert them to cashback or Avios immediately after that.

Can I use it for personal spending?

It's a business credit card — the terms expect business use. Mixing personal spending creates accounting headaches at year-end and may breach the cardholder agreement. Use a separate personal card for personal expenses.

What if I spend abroad — are there foreign exchange fees?

Capital On Tap charges 0% FX fees on transactions in EUR and USD, which is a standout feature. Other currencies attract a small FX margin, still cheaper than most UK business cards.

Is referral code 2REFY893A52 still working in May 2026?

Yes. Code 2REFY893A52 is verified active as of May 2026 and credits new approved applicants with a 7,500-point welcome bonus (£75 cashback equivalent) after their first qualifying card transaction.

Where exactly do I enter referral code 2REFY893A52?

If you apply via the referral link on tapondeals.co.uk, the code is attached automatically — you don't need to enter anything. If you reach Capital On Tap another way, paste 2REFY893A52 into the 'Referral Code' field on the final page of the application before submitting.

What is referral code 2REFY893A52 worth?

The code is worth 7,500 Capital On Tap reward points, which converts to £75 cashback applied to your statement balance, or 7,500 Avios if you choose the Avios redemption track. Cashback is the simpler option for most users.

When will the £75 actually arrive in my account?

The 7,500 points typically appear in your Capital On Tap rewards balance within 3–5 working days after your first qualifying card transaction settles. You can then redeem them for £75 cashback in the Rewards section of your dashboard.

Does using code 2REFY893A52 cost me anything?

No. The referral code is free to use, has no impact on your interest rate or credit limit, and does not change any aspect of the Capital On Tap card terms. You receive the same card on the same terms — plus £75.

Can sole traders use referral code 2REFY893A52?

Not directly — Capital On Tap is currently limited to UK Limited Companies, LLPs and PLCs. Sole traders need to incorporate as a Limited Company first (£12 and 24 hours via Companies House), then build £24,000+ annual turnover (~£2,000/month) through the company's business bank account before applying with code 2REFY893A52.

What if I already started an application without entering the code?

If you've been approved within the last 14 days and forgot to enter 2REFY893A52, contact Capital On Tap support immediately. They can sometimes apply the code retroactively. After 14 days, retroactive application is generally not possible.

Can I use this code on a second business?

Yes. The £75 bonus is per business, not per person. If you're a director of multiple eligible Limited Companies, each company can apply separately for its own Capital On Tap card and each can use referral code 2REFY893A52 to claim its own £75 bonus.

Is 2REFY893A52 better than other Capital On Tap referral codes online?

All valid Capital On Tap referral codes unlock the same 7,500-point bonus — the company doesn't issue 'premium' codes that pay more. Code 2REFY893A52 pays the maximum referral bonus available and is verified active for May 2026.

Will applying with this code affect my credit score?

Only the initial eligibility check is run as a soft search, which has zero impact on your credit score. A hard search is only triggered if you formally accept the card offer, and that hard search is identical whether you used referral code 2REFY893A52 or applied without any code.

Why does Capital On Tap keep logging me out?

Sessions automatically expire after 15 minutes of inactivity for security. If you're being logged out faster than that, your browser may be blocking cookies — check that cookies for capitalontap.com are allowed in your browser settings.

Can I log in with face ID on the app?

Yes. Once you've logged in once with email and password, the app will prompt you to enable Face ID (iOS) or fingerprint login (Android). This becomes your default unless you disable it.

How do I change the email on my Capital On Tap account?

Email changes can't be done via the app or website. Email support@capitalontap.com from the current address on file requesting the change, and provide the new address. Verification typically takes 1-2 business days.

What if I'm not the original applicant?

Only the named cardholder can log in to that user's account. If you're an additional cardholder, you have your own login. If you're a new director who's taken over from the original applicant, you'll need to contact support to transfer account ownership.

Is the £75 bonus from code 2REFY893A52 affected by login issues?

No. Your welcome bonus from code 2REFY893A52 is tied to your account on the back end, not to your ability to log in. Once you regain access, the bonus credits will be there as normal.

Will requesting an increase hurt my credit score?

Capital On Tap typically uses a soft search for limit increase requests, which doesn't impact your credit score. A hard search may be triggered for very large increases (e.g. >£50,000 in one jump).

What's the maximum Capital On Tap credit limit?

£250,000 for established UK limited companies. The vast majority of customers sit between £2,000 and £50,000.

How often can I request an increase?

Once every 90 days is the practical limit. More frequent requests are usually auto-declined.

Does claiming the £75 referral bonus from code 2REFY893A52 affect my limit?

No. The 7,500-point welcome bonus is unrelated to your credit limit — it's credited as a reward, not added to your spending power.

Can I get a temporary increase for a specific purchase?

Yes. Email support@capitalontap.com explaining the one-off need (e.g. 'I need to buy £15,000 of inventory next week, can you temporarily raise my limit from £8,000 to £18,000 for 30 days'). Approvals are common if your account is in good standing.

Does Capital On Tap publish a minimum trading-period requirement?

No. The published eligibility criteria require the business to be active on Companies House with £24,000+ annual turnover and no unsatisfied CCJs in the last 12 months — there is no fixed minimum number of months trading. In practice, however, very new companies with no Open Banking or filed-accounts evidence of turnover often struggle because the underwriter cannot verify the £24k threshold.

Does my personal credit score matter for a new company card?

Yes, especially. With limited business trading history to assess, lenders fall back on the director's personal credit. A score of 700+ (Experian) significantly improves approval odds across all options listed here.

Can I apply for Capital On Tap with a brand-new company and just be declined?

You can, but the hard credit search will hit your file regardless if you accept any offer. Better to wait until the company is consistently invoicing above £2,000/month so the £24,000/yr turnover threshold is verifiable, then apply.

What about sole traders?

Sole traders are not eligible for Capital On Tap at all — it's restricted to UK Ltd, LLP and PLC businesses. Realistic alternatives are American Express Business Gold, Barclaycard Select Cashback, or Tide Business Credit. To use Capital On Tap, incorporate as a Limited Company first and apply once turnover crosses £24,000/yr.

Will using code 2REFY893A52 work as soon as I'm eligible?

Yes. Code 2REFY893A52 is valid for any new Capital On Tap customer. The moment you meet the standard eligibility (UK Ltd/LLP/PLC active on Companies House, £24,000+ annual turnover, no unsatisfied CCJs in the last 12 months), you can apply with the code and claim the £75 bonus. Capital On Tap does not publish a minimum trading-period rule.

Can I appeal a Capital On Tap decline?

Capital On Tap will reconsider if you provide additional information — emailing support@capitalontap.com with updated revenue figures, recent accounts, or evidence of resolved credit issues sometimes works. There's no formal appeals process.

How long should I wait before reapplying?

At least 90 days, ideally 6 months. Reapplying too soon leads to another decline and another hard search on your file.

Will using a different referral code help if I was declined with one?

No. The code (including 2REFY893A52) only affects the welcome bonus, not the underwriting decision. Decline is based on credit and business factors, not the code used.

Does a decline show on my credit file?

The hard credit search shows on your file for 12 months, but the decline outcome itself is not visible to other lenders. Other lenders only see that a search occurred.

What if I've been declined twice?

Two declines in a short period suggests something fundamental needs to change — most often personal credit, time on book, or revenue. Pull your credit reports, identify the specific issue, fix it, and wait 6+ months before trying again.

How many employee cards can I get with Capital On Tap?

There is no published limit — Capital On Tap offers unlimited employee cards at no extra cost. You can issue as many as your team needs, each with its own spending limit.

Do employee cards cost extra?

No. Additional employee cards are free, and the standard Capital On Tap card has no annual fee, so adding cardholders does not increase your costs.

Can I set different limits for each employee?

Yes. Every employee card can have its own monthly spending limit, adjustable instantly from the dashboard or app, all drawn from your single overall credit line.

Do employee card purchases earn cashback?

Yes. All spending on employee cards earns the same 1% unlimited cashback (or Avios points on the Rewards card), credited to your business account.

How do I get the £75 bonus?

Apply for Capital On Tap with referral code 2REFY893A52 and make your first card transaction. You'll receive 7,500 points worth £75, typically within a few business days.

How much is a Capital On Tap point worth?

As cashback, 1 point equals 1p, so 100 points = £1. Converted to Avios on the Rewards card, the value varies and can be higher or lower than 1p depending on the flight.

How long do points take to appear?

Points from spending post to your account within a few days. The 7,500-point welcome bonus typically appears within a few business days of your first transaction.

Can I redeem points for cash to my bank account?

Points are redeemed as cashback against your Capital On Tap balance rather than paid out to an external bank account. This reduces your balance or builds positive credit.

How do I get the welcome bonus?

Apply with referral code 2REFY893A52 and make your first card purchase. You'll receive 7,500 points worth £75, usually within a few business days.

Is a credit card cheaper than a business loan?

For short-term spend you can repay in full each cycle, yes — you pay no interest and earn cashback. For large amounts repaid over years, a loan's lower interest rate usually wins.

Does Capital On Tap charge interest?

Only if you carry a balance past the interest-free period. If you repay your statement in full each cycle, you pay no interest while still earning 1% cashback.

Can I use Capital On Tap instead of an overdraft?

Often yes — for planned spending, a credit card you clear monthly is usually cheaper than an overdraft and earns rewards. An overdraft can still help with unpredictable account-level gaps.

What credit limit can I get?

Capital On Tap offers limits up to £250,000, decided on your turnover, trading history and credit profile. Most new approvals start lower and increase with healthy use.

What is the minimum turnover for Capital On Tap?

Capital On Tap typically looks for around £24,000+ in annual turnover, assessed alongside trading history and credit profile. It's a guideline, not a strict cut-off — run the soft-search check to know for sure.

Does checking eligibility affect my credit score?

No. The eligibility check is a soft search, which is invisible to other lenders and has no impact on your score. A hard search only occurs if you proceed with a full application.

Can a new company with low turnover qualify?

It's harder with low turnover and limited trading history, but a strong overall profile can help. If declined, alternatives like Amex Business Gold or Tide Business Credit assess differently.

Can sole traders apply?

No. Capital On Tap is restricted to UK limited companies, LLPs and PLCs. Sole traders would need to incorporate first or consider other cards.

How do I claim the £75 bonus?

Apply with referral code 2REFY893A52 and make your first card transaction to receive 7,500 points worth £75.

Does Capital On Tap report to credit agencies?

Yes. Capital On Tap reports account activity to commercial credit reference agencies, so responsible use can help build your business credit history over time.

Can Capital On Tap help build my business credit score?

Yes — paying on time and staying within your limit builds a positive track record. Building credit takes time, so consistent, responsible use over months and years has the most effect.

Will it affect my personal credit?

A director's personal guarantee applies. In normal, responsible use the account builds your business profile, but a serious default could affect personal credit. The initial eligibility check is a soft search with no impact.

How long does it take to build business credit?

There's no fixed timeline — it builds gradually through a consistent history of on-time payments and sensible balances. The earlier you start, the longer your profile has to strengthen.

Does the virtual card work with Apple Pay and Google Pay?

Yes. You can add the virtual card to Apple Pay or Google Pay and use tap-to-pay in store the same day you're approved.

Does virtual card spending earn cashback?

Yes. The virtual card earns the same 1% unlimited cashback (or Avios on the Rewards card) as your physical card, from the very first transaction.

Will a virtual card purchase trigger my £75 bonus?

Yes. Your first qualifying transaction — including via the virtual card — triggers the 7,500-point (£75) welcome bonus when you apply with code 2REFY893A52.

Is the virtual card secure?

Yes. You can freeze it instantly from the app, issue separate virtual employee cards with their own limits, and every transaction syncs to your accounting software.

Is there a UK business credit card with no personal guarantee?

A few exist, but they're limited. They tend to be corporate or charge cards for larger companies needing high turnover, or secured/prepaid cards where you deposit funds upfront. Most mainstream SME credit cards, including Capital On Tap, require a personal guarantee.

Does Capital On Tap need a personal guarantee?

Yes. Capital On Tap requires a personal guarantee from a director or major shareholder on every account. It's mandatory and there is no guarantee-free version — but it only comes into effect if the business cannot repay what it owes.

Why do some lenders ask for a personal guarantee?

A limited company is a separate legal entity, so a personal guarantee reduces the lender's risk by making a director personally responsible if the business can't repay. Because business credit cards are unsecured, most lenders — Capital On Tap included — require one.

Can I still get the £75 bonus on Capital On Tap?

Yes. New customers who apply with referral code 2REFY893A52 receive 7,500 points (worth £75) after their first card transaction, alongside 1% unlimited cashback and no annual fee.

What is the best instant approval business credit card in the UK?

There's no single winner for everyone, but among fast-decision options Capital On Tap is our top pick for combining speed with rewards: a typically 2-minute decision, a virtual card on approval, 1% unlimited cashback, no annual fee, and a 7,500-point (£75) bonus with code 2REFY893A52.

Is instant approval guaranteed?

No. 'Instant approval' refers to a fast automated decision, not guaranteed acceptance. Your application is still assessed against the lender's criteria, including turnover, trading history and credit profile.

Which UK business cards let me spend immediately?

Cards that issue a virtual card on approval let you spend before the physical card arrives. Capital On Tap typically does this, so most approved applicants can pay via Apple Pay, Google Pay or online straight away.

Will comparing or applying hurt my credit score?

Checking your eligibility with Capital On Tap uses a soft search, which doesn't affect your credit score. A hard search is only carried out if you accept an offer. Other providers vary, so check each one's process.

How do I get the £75 welcome bonus?

Apply with referral code 2REFY893A52, get approved, and make your first card transaction within 30 days. The 7,500 points (worth £75) are then credited to your account.

What is the best no annual fee business credit card in the UK?

The best choice depends on your spend, but Capital On Tap is a leading no-annual-fee option: £0 annual fee on the core card, 1% unlimited cashback, limits up to £250,000, free employee cards, and a 7,500-point (£75) bonus with code 2REFY893A52.

Does Capital On Tap charge an annual fee?

The core Capital On Tap business card has no annual fee. There is a separate Rewards card with an annual fee that earns enhanced rewards, but the standard card is £0 per year.

Is a no annual fee card always the best value?

Not always. A £0 fee is great, but a card with a small fee and much higher rewards can sometimes earn you more overall. Compare the fee against the cashback and benefits for your level of spend.

How do I claim the welcome bonus?

Apply with referral code 2REFY893A52, get approved, and make your first card transaction within 30 days to receive 7,500 points (worth £75).

Which UK business credit card has the highest limit?

Limits vary by business, but Capital On Tap is among the highest available to UK SMEs, offering up to £250,000 for eligible businesses based on turnover, trading history and credit profile.

What credit limit will I get with Capital On Tap?

Limits range from £2,000 to £250,000. Most new approvals start between roughly £5,000 and £25,000, with reviews that can increase your limit over time as your account history builds.

How can I increase my business credit limit?

Keep accurate records, show steady or growing turnover, manage existing credit responsibly, and use the card actively while paying it off. You can then request a limit review as your history develops.

Is there a welcome bonus on Capital On Tap?

Yes. New customers who apply with referral code 2REFY893A52 receive 7,500 points (worth £75) after their first card transaction, alongside 1% unlimited cashback and no annual fee.