Why choose Capital on Tap?
Don’t just take our word for it. Check out our customer stories for more.
1.5% cashback on every purchase
No annual fee
Credit limits up to to $50,000
Rates as low as 9.99% (APRs range 9.99% to 34.99%)
Free employee cards
Virtual cards available minutes after approval
Who can apply for a business credit card with us?
We are a match if you:
- Are an active business that has been running for more than 6 months
- Have at least $2,500 per month in revenue
- Make money mostly from selling goods and/or providing services
Not right now...
- Sole proprietorships
- Charities or non-profits
- Trusts or funds
- Clubs or other non-registered organizations
Let the Capital on Tap Business Credit Card make running your business easier today
Credit limits are determined by the credit quality of the applicant. The highest quality applicants will receive the highest credit limits.
Frequently asked questions
Everything you need to know about business credit cards
What is a business credit card?
A business credit card is a card used solely for business expenses. It is a revolving line of credit with a specified credit limit used to pay your company-related expenditures. Like a personal credit card, businesses spend on their cards throughout the month and receive a statement with the total balance owed and the minimum payment due after the specified billing cycle.
If the balance is paid in full, there is no interest charged for that period. Business credit cards often come with extra benefits for you and your company, including cashback, employee cards, and technology benefits such as accounting integrations and spending controls.
How to apply for a business credit card?
The application process for a business credit card will differ for every credit card provider, but you can apply for the Capital on Tap Business Credit Card online! You will need to provide your Tax Identification Number (also known as your Employee Identification Number, or EIN) and some personal and business details, including your business's legal name, monthly revenue, and business address.
The Capital on Tap Business Credit Card application takes about 2 minutes. Most applicants receive a credit decision within 24 hours, and their physical card in the mail four days later.
How does a business credit card work?
A business credit card works the same way as your personal credit card but instead of being issued to you for your everyday household needs, it is issued to your company for business related expenditures only. A business credit card helps finance short-term needs, boosting your company’s purchasing power. Business credit cards can also be issued to your staff in charge of business expenses, with spending restrictions and thorough transaction histories.
Why should I get a business credit card?
Business credit cards come with major advantages available exclusively to business owners. Business credit cards tend to offer higher credit limits and more expansive benefits to help businesses grow. Additionally, designating a business credit card for business spend can help separate personal and business expenses, which is critical for sound bookkeeping practices and accurate tax payments.
The Capital on Tap Business Credit Card is custom-made for small businesses, providing exceptional benefits and rewards, offering features to streamline processes, and an intuitive and transparent interface to manage your business spend.
Can a business credit card be used for a personal use?
No, you cannot use a business credit card for personal expenses. Business credit cards are solely used for legitimate business purposes. Most business credit card issuers strictly prohibit using your business credit card for personal use. Violating these terms can lead to the closure of your business credit card account, lowering your personal and business credit scores, tax penalties including fees, or even prosecution. Learn the differences between personal and business credit cards.
What is a personal guarantee?
A personal guarantee is a legally enforceable agreement that holds you personally accountable for paying off your business credit card debt. By giving a personal guarantee, you agree to take on personal liability for the debt if the company is unable to make payments. As business credit cards are a type of unsecured finance, most providers will require this type of agreement.
How long does it take to get a business credit card?
Depending on your business and the information needed to process your application, it can take as little as a few minutes, to as long as several weeks to receive a decision. It can take anywhere from a couple of business days to several weeks to receive your physical card in the mail.
Most Capital on Tap Business Credit Card applicants receive a credit decision within 24 hours and their physical cards in four days. Once approved for a business credit card, you will have immediate access to funds with your virtual card.
Do I need a personal guarantee to apply for a business credit card?
Yes, many business credit cards, including Capital on Tap, require a personal guarantee.
What is the difference between small business credit cards and corporate cards?
Small business credit cards typically have lower interest rates, higher credit limits, and more flexible terms than corporate cards. Small business credit cardholders will earn the rewards the card has to offer, whereas the business is entitled to rewards earned on a corporate card. Additionally, the primary card holder is liable for debt and fees on their business credit card, whereas the company is liable for corporate card expenses. Corporate cards require the business to pay the balance off in full every month, whereas business credit cards allow you to carry a balance on the card. To qualify for a corporate card, companies typically need to show an annual revenue over $4 million, $250,000 in expenses, and a minimum of 15 authorized cardholders.
Do I have to own a business to get a business credit card?
In most cases to qualify for a business credit card, you must own a business. To apply for a Capital on Tap Business Credit Card, you will need to provide your Tax Identification Number (also known as your Employee Identification Number, or EIN), as well as some personal and business details including your business's legal name, your monthly revenue, and your business address.
Does a business credit card affect my personal credit score?
Since many business credit cards require a personal guaranty, if you default on your business credit card you will become personally liable for the debt, which can negatively impact your personal credit score.
Do I need an Employer Identification Number to get a small business credit card?
In most cases, yes, you need an Employer Identification Number, also known as a Tax ID Number, to qualify for a small business credit card.
What credit score do I need to get a business credit card?
A business credit score ranges from 0 to 100. Most business lenders require a score at or above 75. If you have a poor business credit score, you may be able to qualify for a business credit card with a personal guarantee if you have good personal credit. Personal credit scores range from a low of 300 to a high of 850. Most lenders consider a score at or above 650 to qualify for personal credit products.
How much does it cost to have a business credit card?
Business credit card fees can range from $0 to several hundred dollars. But annual fees aren't the only way it can be costly to own a business credit card. You can be charged ATM fees, foreign exchange fees, high interest rates, and more. The Capital on Tap Business Credit Card has no annual fees, no US ATM fees, and no foreign exchange fees, and APR rates are as low as 9.99% (APRs range from 9.99% to 34.99% based on creditworthiness).
Do business credit cards offer rewards?
Yes, one of the perks of being a business credit card holder is the benefits and rewards are often far superior than you'd find with a personal credit card. However, different cards offer different types of rewards, and some come with a high price tag - so it's worth doing your research. The Capital on Tap Business Credit Card has no annual fees, US ATM, or foreign exchange fees and offers unlimited free 1.5% cashback, $200 back if you spend $15,000 in your first 3 months, credit limits up to $50,000, and travel and gift card rewards.
Can you build credit with a business card?
Yes, business credit cards are a great way to build credit, and there are a few key ways that they do this. One is by reporting the card activity to business credit bureaus. This helps build a credit history and establishes the business’ credit risk. Additionally, using the business credit card responsibly can help improve the company's overall credit score. Finally, paying off the balance in full each month demonstrates financial responsibility and can help boost the business's creditworthiness.