Capital on Tap vs Barclaycard Select Cashback: Which Is Best for Your Business?

Choosing between the Capital on Tap Business Credit Card and Barclaycard Select Cashback depends on how quickly you need to move and how you use your rewards. Capital on Tap is designed for immediate utility; virtual cards are available to use instantly upon approval, with physical cards arriving within 5 days. Its rewards are accessible from the first pound spent, offering uncapped 1% cashback on all business purchases. In contrast, Barclaycard Select Cashback follows a more traditional high-street timeline, with cards typically arriving within 14 days. Their rewards program is tailored for higher-volume spenders, as the 1% cashback is available only once a business reaches a £2,000 monthly spend threshold.

Selecting the right card can help streamline your day-to-day admin and turn regular business expenses into valuable rewards. This comparison looks at the core features, eligibility requirements, and approval timelines for two of the UK's most popular business credit cards.

Comparing the core features

Both providers offer cards with no annual fee, but the requirements for earning rewards and the costs of spending abroad differ significantly.

The application and approval process

The timeline for receiving your card is often a deciding factor for fast-moving businesses. Each provider has a different approach to onboarding.

• Capital on Tap: Our application is 100% digital and typically takes under 2 minutes. We use a soft credit check for the initial quote, so you can see your offer without any impact on your credit score. Once approved, you get immediate access to a virtual card so you and your team can start spending online or via digital wallets right away. Your physical card will arrive in the post in just 2 to 5 business days.

• Barclaycard: Barclaycard’s application only takes a few minutes, but if they need to check further details, their approval process can take between 7 to 14 working days. Once the final form is received and processed, the physical card is typically posted and arrives within a further 7 to 14 days.

How rewards and cashback work

While both cards offer a 1% cashback rate, the criteria for earning those rewards are tailored to different spending profiles.

• Capital on Tap: We believe every pound your business spends should be rewarded. With the Capital on Tap Business Credit Card, you earn uncapped 1% cashback on every purchase, regardless of your total monthly spend. You can redeem these reward points for cashback, to lower your credit balance, to purchase gift cards, or convert them into travel rewards like Avios, Virgin Points, or Radisson Rewards points.

• Barclaycard: Barclaycard also offers 1% cashback. However, to qualify for the cashback in any given month, you must spend at least £2,000 per statement period. This means that in any month where your business spend falls below that threshold, you will not earn cashback for that period.

International spending and foreign exchange fees

If your business regularly pays for international stock, software subscriptions, or overseas travel, foreign exchange (FX) fees are an important cost to consider.

• Capital on Tap: We do not charge any FX fees for any card spend made while abroad.

• Barclaycard: The Select Cashback card typically carries a 2.99% non-sterling transaction fee.

To put this in context: if you pay an overseas supplier £5,000, you would pay £0 in FX fees with Capital on Tap, whereas the same transaction with Barclaycard would involve approximately £149.50 in fees.

The bottom line

Both the Capital on Tap Business Credit Card and Barclaycard Select Cashback are useful tools for UK SMEs. However, if you need a card that supports your growth with a credit limit up to £250,000 and the ability to spend immediately via an instant virtual card, then Capital on Tap is the right choice for your business. By choosing Capital on Tap, you also benefit from unlimited free employee cards for your team and zero FX fees on all international spending. Most importantly, you can rely on earning unlimited 1% cashback on every single pound you spend, without needing to hit a minimum monthly threshold. 

Frequently asked questions

All data is accurate as of March 2026. This does not constitute financial or tax advice. For specific guidance, please consult a qualified professional.