The business credit card that's more rewarding

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.

The application process for a business credit card differs by provider. You'll need to provide personal and business details such as your business's legal name, monthly turnover, and address.

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.

It can take anywhere from a few minutes to a few weeks to get a business credit card. 

The Capital on Tap Business Credit Card provides instant access to funds for approved applicants with virtual cards. Your physical card will then arrive in the mail within 4 business days.

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.

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.

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

Small business credit cards typically offer lower interest rates, higher credit limits, and more flexible terms compared to corporate cards. When it comes to rewards, small business credit card holders earn them personally, while corporate card rewards are earned by the business. With a small business credit card, the primary cardholder is responsible for any debt and fees incurred, while with a corporate card, the company is responsible for all expenses. Additionally, corporate cards require the balance to be paid in full each month, while small business credit cards allow carrying a balance.

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.

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

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.

Business credit scores range from 0 to 100, while personal credit scores range from 300 to 850.  Most business lenders consider a business credit score at or above 75 as “good”. 

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 dollars. 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 interest rates. 

The Capital on Tap Business Credit Card offers attractive benefits with no annual fees, foreign exchange fees, or US ATM fees, and low variable APRs (APRs range 18.49% to 35.99%) make 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 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.

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.

You can use your business credit card for a wide range of business expenses, including office supplies, travel expenses, and equipment purchases. 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.

Yes. Add unlimited employee cards to your Capital on Tap Business Credit Card account, and set individual spending limits on each card from the Cards page on your portal.

Business credit cards typically provide some level of protection for purchases that are faulty, broken, or not received. 

However, it's important to note that not all business cards offer such protections since they are not personal credit cards. While some business credit cards may provide safeguards against fraud, unauthorized use, and other potential issues, the availability of these protections ultimately is at the discretion of the credit card issuer and can vary considerably.

Before taking out a business credit card, you should read through the card agreement and any other legal documents provided. This will help you understand the level of protection provided by the card and any potential liability you may have in case you experience issues with your purchases.

Many business credit cards protect you against any losses due to fraud, stolen or misuse of credit cards.

Yes, the majority of business credit cards can be used abroad.  

Use your Capital on Tap Business Credit Card almost anywhere in the world. We don’t charge foreign exchange fees on any purchases made outside the US.

Yes, with your Capital on Tap Business Credit Cards for employees, you maintain full visibility and spending control. You control how much each employee spends per billing period, or per single transaction.

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.

Sole proprietors do not qualify for a Capital on Tap Business Credit Card