Does HSBC pay cashback like Capital On Tap?

No, the standard HSBC business credit card pays no cashback. Capital On Tap pays 1 point per £1 — on £75k/yr spend, that's £750/yr cashback HSBC doesn't pay.

Is HSBC's lower APR meaningful?

Only if you carry a balance past the 50-day interest-free period. If you pay in full each month — which you should — APR doesn't matter and Capital On Tap's rewards win.

Independent comparison · May 2026

Capital On Tap vs HSBC Business Credit Card (2026)

HSBC's business credit card is the standard high-street offering tied to HSBC business banking. Capital On Tap is the independent fintech with rewards. Here's the comparison for UK Limited Companies.

Side-by-side specification

	Capital On Tap	HSBC Business
Annual fee	£0 (Business) / £99 (Rewards)	£32/year per card (or waived on tiers)
Rewards	1 point per £1 (= 1% cashback or 1 Avios 1:1)	No cashback (standard card)
Foreign-exchange fee	0% FX fees worldwide	2.99% non-sterling fee
Credit limit	Up to £250,000	Subject to assessment
Eligibility	UK Ltd / LLP / PLC, £24k+/yr turnover, no unsatisfied CCJs (last 12 months). Sole traders not eligible. No published minimum trading-period rule.	HSBC business banking customer typically required
Representative APR	34.65% representative variable	~22.9% representative variable
Application	~2 minutes, soft credit check first	5-10 minutes, hard credit check
Card type	Visa Business credit card	Visa Business

Where Capital On Tap wins

✓ No annual fee (HSBC charges £32/card/year)
✓ 1% cashback on every transaction
✓ 0% FX vs HSBC's 2.99%
✓ £75 welcome bonus with code 2REFY893A52
✓ No banking relationship required
✓ Soft search before commitment

Where HSBC Business wins

✓ Lower APR if you carry a balance
✓ Integrated with HSBC business banking
✓ Established high-street brand for some lender checks

Who should pick which

Pick Capital On Tap if

You want rewards, 0% FX and no annual fee — and don't need an HSBC banking relationship.

Pick HSBC Business if

You're already an HSBC business customer who prefers consolidated banking and carries a balance.

FAQs: Capital On Tap vs HSBC Business

Does HSBC pay cashback like Capital On Tap?: No, the standard HSBC business credit card pays no cashback. Capital On Tap pays 1 point per £1 — on £75k/yr spend, that's £750/yr cashback HSBC doesn't pay.
Is HSBC's lower APR meaningful?: Only if you carry a balance past the 50-day interest-free period. If you pay in full each month — which you should — APR doesn't matter and Capital On Tap's rewards win.