SME? Get points worth 10,500 Avios with Capital On Tap’s Visa card

You can earn points worth 10,500 Avios when your small business signs up for a Capital On Tap Business Rewards Visa credit card.

You also earn points worth 1 Avios for every £1 you spend.

It is also the only credit card indirectly earning Avios which has NO FX FEES.

It is a fantastic card to use for your business. Even if you have an American Express Business card, you will still need a back-up given the level of Amex acceptance in the B2B sector.

Sounds good?  Let me explain more.

What is the Capital On Tap Business Rewards Visa card?

Capital On Tap – a small UK payments card company which I admit you may never have heard of – runs the only small business Visa credit card which can earn you Avios points.

With their Business Rewards card, you earn 1 Capital On Tap points (worth 1p cashback or 1 Avios) per £1 you spend, and get a 10,500 points (worth £105 or 10,500 Avios) sign-up bonus.  The annual fee is £99.

The £105 or 10,500 Avios sign-up bonus is a special offer for HfP readers who use our headforpoints code when applying.  The standard bonus is 10,000 points.  

As an added benefit, this is the ONLY Avios-earning credit card in the UK which does not charge foreign exchange fees when used abroad.

In this article I will explain all you need to know about the Capital On Tap Business Rewards Visa card and who can apply.

How does the Capital On Tap Business Rewards Visa card work?

The Capital On Tap Business Rewards card is the only way to indirectly earn Avios via a small business Visa or Mastercard credit card.  We have also negotiated a higher sign up bonus exclusively for our readers!

With the Capital On Tap Business Rewards card, you earn 1 Capital On Tap point (worth 1p cashback or 1 Avios) per £1 you spend, and get 10,500 Capital On Tap points (worth £105 or 10,500 Avios) as a sign-up bonus.  The annual fee is £99.  The 10,500 points bonus includes an extra bonus of 500 points exclusively for Head for Points readers.

The Capital On Tap card is aimed at SMEs. You must have a limited company to apply – unfortunately sole traders and partnerships are not accepted. 

Whilst you may not have heard of Capital On Tap, it has already helped more than 120,000 customers access business funding across its card and loan products. This card, launched in 2018, was its first move into the rewards market.

You can find full details on their website here.  Read on first, however, to learn more about the additional bonus for HfP readers.

Your interest rate is based on your business profile and can be as low as 1.19% per month.  The representative interest rate for marketing purposes is 34.3% APR variable.

How many points do you earn?

In summary, the Capital On Tap Business Rewards Visa card:

• has a sign-up bonus of 10,000 Capital On Tap points which is worth £100 cashback or 10,000 Avios

• this is increased to 10,500 Capital On Tap points, worth £105 cashback or 10,500 Avios, if you use the promo code “headforpoints” when applying or go via our special link

• has an on-going earnings rate of 1 Capital On Tap point (worth 1p of cashback or 1 Avios) per £1 spent

• has an annual fee is £99 (tax deductible as a business expense)

The sign-up bonus requires you to spend £5,000 within three months.  The bonus arrives at the end of your fourth billing period, irrespective of how quickly you spend the £5,000.

There are some other good benefits too:

• unlimited free supplementary cards for your staff

• a credit limit of up to £150,000

• up to 56 days to pay before interest is incurred

• No FX fees and no ATM fees 

Capital On Tap Business Rewards is the ONLY Avios-earning payment card which does not charge foreign exchange fees.

Another positive point is that Avios transfers from Capital On Tap are INSTANTANEOUS.  Log in to Capital On Tap, request a transfer of some or all of your available Capital On Tap points to Avios, log in to your British Airways Executive Club account and they will be there! American Express Membership Rewards does not offer instant transfers – you usually need to wait overnight.

You can find full details of the Business Rewards card – and apply – on their website here.  Read on first, however.

Who can apply?

The Capital On Tap card is aimed at limited companies with a turnover of £24,000+.

Partnerships and sole traders are not currently being accepted, unfortunately.

What happens if you don’t have a limited company?

If you do NOT have a limited company, our recommended choice for a business Visa or Mastercard credit card is Barclaycard Select Cashback. It is free for life and you get 1% cashback on all of your spending.

Our review of the Barclaycard Select Cashback credit card is here and you can apply here.

Is it worth getting the Capital On Tap Business Rewards Visa?

If you have any sort of small business which would allow you to qualify for the card, I think you need to have a serious look at Capital On Tap.

Here are the key points to think about:

• For the first year, it is a no-brainer – you are getting 10,500 Capital On Tap points, worth £105 or 10,500 Avios, as a sign-up bonus in return for an annual fee of £99 as long as you use the promo code “headforpoints” or use our special application page

• You only need to spend £5,000 in three months to qualify for the sign-up bonus

• The £99 annual fee is a tax deductible expense so the net cost to you will be lower

• The card has no FX fees

• You get far better acceptance than with an American Express card

But don’t forget …..

Capital On Tap points can be converted into cashback as well as Avios.  You can choose to take 1p of cash instead of 1 Avios.

If you don’t value Avios at more than 1p (and in most scenarios an Avios point is worth more than 1p as this article shows) then take your Capital On Tap points as cashback instead.

The cashback option also gives you a fallback in case Avios devalues or your travel plans change.  However, if you took cashback it would be taxable as business income.  You could pro-rata this to reflect personal spending but only if you also pro-rata the part of the annual fee you charge to your company.

Points and miles have no cash or taxable value – this is a long-held HMRC rule.

Remember to use our Capital On Tap promo code when you apply

If the Capital On Tap Business Rewards Visa card sound interesting for your business, you can find out more and apply on their website here.

Remember to add promo code “headforpoints” if it is not added automatically to receive the extra 500 Capital On Tap points as a sign-up bonus, taking your total bonus to 10,500 points.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.