The business credit card that's more rewarding

A business credit card is a line of credit solely used for business expenses. It provides a revolving credit line and a monthly credit limit to pay for company expenses. Similarly to personal credit cards, businesses spend on their cards throughout the month then pay off their balance at the end of their billing periods. Business credit cards often come with additional benefits such as cashback, employee cards, and software integration.

Whilst the application process for a business credit card differs by provider, you can typically apply online, by phone, or by visiting a branch. You'll need to provide personal and business details such as your business's legal name, monthly turnover, and address. With Capital on Tap Business Credit Card, you can apply online in just 2 minutes, and most applicants receive an instant credit decision and virtual card access.

A business credit card works the same way as your personal credit card but instead of being issued to your personal account, it’s issued to your business account. Unlike your personal credit card, a business credit card can only be used to finance your business expenses. You may also issue business credit cards with spend controls to your employees for business expenses.

No, business credit cards are solely for legitimate business purposes. Using it for personal expenses is prohibited and can lead to negative consequences, such as account closure.

A personal guarantee is a legally binding agreement that holds you personally responsible for paying off your credit card debt - even on your business account. Most providers require a personal guarantee as business credit cards are unsecured.

The Capital on Tap Business Credit Card provides instant access to funds for approved applicants with virtual cards. The physical card arrives in the post two days later.

Yes, most business credit cards, including Capital on Tap, require a personal guarantee.

Small business credit cards have lower interest rates, higher credit limits, and more flexible terms than corporate cards. Small business credit cardholders earn rewards while corporate card rewards are earned by the business. The primary cardholder is liable for debt and fees on a business credit card, while the company is liable for corporate card expenses. Corporate cards require the balance to be paid in full each month, while business credit cards allow carrying a balance.

Yes, any size business can have a business credit card to make purchases, manage expenses, and pay bills. Small business owners can apply for a business credit card and enjoy benefits such as cashback rewards, exclusive discounts, and expense tracking features.

You must either own a business or work for a business that authorises you as a cardholder to qualify for a business credit card.

A personal guarantee is required for most business credit cards, so defaulting on a business credit card will make you personally liable for the debt and negatively impact your personal credit score.

Business credit scores range from 0 to 100, while personal credit scores range from 300 to 850. Lenders use various criteria to determine a good credit risk. A poor business credit score may still qualify for a business credit card with a personal guarantee if you have good personal credit.

The cost of a business credit card can vary greatly, ranging from zero to several hundred pounds. While annual fees are one aspect to consider, there are other potential costs to keep in mind, such as foreign exchange fees, ATM fees, and high interest rates. Capital on Tap's Business Credit Card offers attractive benefits with no annual fees, foreign exchange fees, or UK ATM fees. APR rates are as low as 15.5% (variable), making it an affordable option for businesses.

Yes, business credit cards often offer superior benefits and rewards compared to personal credit cards. However, different cards offer different types of rewards, and some come with a high price tag. It is important to do thorough research to find the right card for your business. The Capital on Tap Business Credit Card offers uncapped 1% cashback, high credit limits up to £250,000, travel and gift card rewards, and up to 56 days of interest-free credit. Additionally, it has no annual, ATM, or foreign exchange fees, making it an attractive option for businesses seeking rewards without the extra costs.

Yes, business credit cards are an effective way to build credit for your business. These cards report activity to business credit reference agencies, helping establish a positive credit history and indicating the business is a good credit risk. Responsibly using the business credit card can also help improve the company's overall credit score. Finally, paying off the balance in full each month showcases financial responsibility and can boost the business's credit rating.

You can use your business credit card for a wide range of business expenses, including office supplies, travel expenses, equipment purchases, and even employee salaries. It's important to note that you should only use your business credit card for legitimate business expenses and not personal purchases.

The APR (annual percentage rate) on a business credit card can vary depending on the card issuer and your creditworthiness. Generally, business credit cards tend to have higher APRs than personal credit cards. It's important to read the terms and conditions carefully before applying for a business credit card, and to pay off your balance in full each month to avoid high interest charges.

Yes. Add unlimited employee cards to your account and set individual spending limits on each card from the Cards page on your portal.

Business credit cards often come with some form of protection to help you if your purchase is faulty, broken, or never arrives. Your business credit card also protects you against any losses due to fraud, stolen or misuse of credit cards.

Use your Capital on Tap business credit card almost anywhere in the world without incurring foreign fees. 

We don’t apply any charges or commission on transactions above the base exchange rate. 

Yes, with your Capital on Tap employee credit cards, you maintain full visibility and spending control. You control how much each employee spends per billing period, or per single transaction.