Published: 03 May 2023
Last updated: 22 May 2023
As a business owner, you likely have a long to-do list and limited time to complete it all. With the convenience of weekly repayments, you can cross one important task off your list and free up your time for other important business operations.
Instead of worrying about managing your credit card balance and making payments, you can trust that the process will be taken care of for you by Capital on Tap, leaving you with one less thing to worry about.
What are weekly repayments?
Weekly repayments means your balance will be cleared by Direct Debit at the end of every week. Payments are scheduled for Thursday and cleared by Friday, excluding bank holidays, ensuring that you always keep your available balance high and your spending power strong.
What are the benefits of weekly repayments?
Weekly repayments can be especially beneficial for small business owners who are looking for ways to streamline their financial management processes.
Less stress and greater peace of mind
By setting up weekly repayments, you can eliminate the stress and worry that often comes with managing your credit card balance. You'll no longer need to worry about hitting your credit limit, missing payment deadlines, or incurring interest on card spend. Instead, you can trust that your balance will be automatically cleared each week, leaving you with more time to focus on the thing that matters most - running your business.
Improved credit score
By making consistent, on-time payments each week, you can improve your business credit score over time. This can be especially important if you're planning to apply for a mortgage or attract investors in the future, as a higher credit score can help you qualify for better rates and terms.
Higher available balance
With weekly repayments, you can keep your available balance high, providing you with greater spending power when you need it most. This can be especially beneficial if you're planning to make a large purchase or have an unexpected expense come up.
Convenient and time saving
Weekly repayments can also be incredibly convenient, saving you time and effort in the long run. Instead of logging in to your online account every month to make payments, you can set up an automatic Direct Debit, choose to repay weekly and let us take care of it for you.
How to set up weekly repayments
Set up weekly repayments from your app or desktop in under a minute
Head to the ‘Payments’ tab, and then click ‘payment frequency’ in the app, or ‘change your payment option’ on your desktop portal
Sit back and relax. We’ll take care of the rest!
With just a few clicks on your app or desktop portal, you can easily set up weekly repayments and enjoy the convenience and peace of mind that comes with a Capital on Tap Business Credit Card.