How can i apply for a business credit card

Table of Contents Show

• The business credit card that's more rewarding
• Why choose Capital on Tap?
• Earn rewards on all business credit card spend
• Free Rewards
• Business Rewards
• Celebrate the FIFA World Cup Qatar 2022™ Final
• Getting a business credit card is easy
• Run your business better with
• Who can apply for a business credit card with us?
• Capital on Tap reviews
• Let the Capital on Tap Business Credit Card make running your business easier
• Frequently asked questions
• Who is eligible for business card?
• Can I get a business credit card right away?

The business credit card that's more rewarding

Why choose Capital on Tap?

Don’t just take our word for it. Check out our customer stories for more.

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Uncapped 1% cashback with no annual fee

Limits up to £250,000

Apply and get a decision in less than 5 minutes

Great rates as low as 9.9%

Up to 56 days interest-free

Unlimited free company cards

Earn rewards on all business credit card spend

Come for the rewards points, stay for the all-in-one spend solution. Change your plan at any time.

Free Rewards

Earn 1% cashback on card spending like bills, operating costs and general expenses.

No annual fee

Get Started

• Uncapped 1% cashback on card spending
• Exclusive offers like savings at Dell, Hertz, Hotels.com and more
• Redeem points against your balance, for cash, or for discounted gift cards
• Redeem points for Avios
• 10,000 bonus points when you spend £5,000 in your first 3 months

Business Rewards

All the standard rewards plus bonus points and extra redemption options like Avios.

£99 per year

Get Started

• Uncapped 1% cashback on card spending
• Exclusive offers like savings at Dell, Hertz, Hotels.com and more
• Redeem points against your balance, for cash, or for discounted gift cards
• Redeem points for Avios
• 10,000 bonus points when you spend £5,000 in your first 3 months

Celebrate the FIFA World Cup Qatar 2022™ Final

Win a shirt or football signed by former England footballer Michael Owen, thanks to Visa!

Find out more

Getting a business credit card is easy

Apply and get a decision in less than 5 minutes

Make purchases immediately with your virtual card

Your cards arrive 2 days later

Running your business just got easier

Who can apply for a business credit card with us?

Capital on Tap reviews

Frequently asked questions

Everything you need to know about business credit cards

• A business credit card provides a line of credit used solely for business expenses. It offers a revolving credit line and a monthly credit limit that can be used to pay your company expenses. Similar to personal credit cards, businesses spend on their cards throughout the month then pay off their balance at the end of their billing periods. If you pay off your balance in full, you don't get charged interest. Business credit cards often come with extra benefits for you and your company including cashback, cards for your employees, and technology benefits such as accounting integrations and spend controls.

• The application process for a business credit card will be different for every credit card provider, but you can usually apply online, by phone, or by visiting a branch. To open a business credit card, you will need to provide some personal and business details including your business's legal name, your monthly turnover, and your business address.

  You can apply for the Capital on Tap Business Credit Card online in 2 minutes. Most applicants receive an instant credit decision, instant access to funds with their virtual card, and their physical card in the post 2 days later.

• 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.

• 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 bookeeping 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.

• No, you cannot use a business credit card for personal expenses. Business credit cards need to be used for legitimate business purposes only. Using your business credit card for personal use is strictly prohibited by most business credit card issuers. Violating these terms can lead to several negative consequences including the closure of your business credit card account, the lowering of your personal and business credit scores, and voided tax returns and penalties. Learn the differences between personal and business credit cards.

• A personal guaranty is a legally binding agreement that holds you personally responsible for paying off your credit card debt. As business credit cards are a type of unsecured finance, most providers will require a personal guarantee.

• While most business credit cards can take anywhere from just a couple of business days to several weeks to receive your physical card in the post, the Capital on Tap Business Credit Card provides instant access to funds for approved applicants with virtual cards. The physical card will arrive in the post two days later.

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

• 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.

• You either have to own a business or work for a business that authorises you as a cardholder to qualify for a business credit card. To open a business credit card, you will need to provide some personal and business details including your business's legal name, your monthly turnover, and your business address.

• Since many business credit cards require a personal guarantee, if you default on your business credit card you will become personally liable for the debt, which can negatively impact your personal credit score.

• A business credit score ranges from 0 to 100, whereas personal credit scores range from a low of 300 to a high of 850. Every lender looks at a plethora of criteria to determine if a business is a good credit risk, including business credit scores, and different lenders have different definitions of a "good" score. 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.

• Business credit card fees can range from £0 to several hundred pounds. 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 UK ATM fees, and no foreign exchange fees, and APR rates are as low as 9.9%.

• 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, ATM, or foreign exchange fees and offers uncapped 1% cashback, up to 56 days interest free, high credit limits up to £250,000, 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 reference agencies. This helps build a positive credit history and establishes the business as a good 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 credit rating.

Who is eligible for business card?

Can I get a business credit card right away?