UK business credit cards enable companies to borrow flexibly for scaling, support business cash flow, improve transaction visibility, issue cards for employees, and bundle reward points from company-wide purchases for cash. Several UK lenders offer business credit cards to corporations and solo entrepreneurs at low rates with high credit limits, subject to meeting their eligibility criteria and credit score requirements. These credit cards are generally issued in the company’s name but require a guarantor, which could be a company director, especially if it is a new business with no credit history. On-time repayments boost business credit scores, which makes it easier to secure bigger loans in the future at lower interest rates.
The business credit card from Capital on Tap is the choice of more than 200,000 UK-based small business owners who have collectively spent £10 billion on business expenses using this card. Owners of a UK-based private limited company or limited liability partnerships that generate a monthly revenue of £2,000 can apply for the Capital on Tap card. It comes with credit limits as high as £250,000 and lucrative APRs, starting at 15.22%, much lower than the average UK July APR of 35.49%. However, the final interest rate and credit limit may vary based on your credit score and loan repayment track record. Cardholders also enjoy zero annual fees, forex/ATM charges, and a 42-day interest-free period that allows you to avoid interest accrual if you repay the entire outstanding debt within this period, starting from the day of purchase.
Uncapped Cashback Rewards
Capital on Tap allows you to issue unlimited employee virtual business credit cards at no cost and offers 1% cashback on all business spending with these corporate cards. Your employees can pay for many business expenses, including travel, office supplies, and advertising, to earn 1 point for every pound spent as you retain complete visibility and control over all credit card transactions. The lender estimates you can earn £500 worth of points for spending £50,000 using Capital on Tap cards. Cardholders can exchange the points for cash or gift cards or treat their colleagues to a fine dining experience. More importantly, the reward points can also be used to repay the outstanding business credit card balance. Furthermore, there is a provision to increase your Capital on Tap business card credit limit for bigger purchases by preloading the card beyond the limit with your own funds.
Cutting-edge Expense Management Support
Managing expenses can become tedious as businesses expand and more people work for the company. Capital on Tap’s services integrates seamlessly with leading accounting software like Sage and Xero, enabling the automatic import of credit card transaction details to your company ledger. The entries are also categorically segregated. Losing track of receipts or transactions can also be avoided using the lender’s online platform, which offers an easy receipt upload mechanism and real-time notification alerts for transaction-related developments.
Customer Support and Product Safety
Tap On Capital is among the few lenders that offer 24/7 UK-based customer support via phone, chat, or email. They claim to connect users with their dedicated support team in under 10 seconds. You can connect with them to dispute transactions, update user details, or learn about product features. Furthermore, the business credit card is protected with Visa’s Zero Liability Policy, which safeguards you from any liabilities surrounding unauthorised transactions on your credit card account. The policy mandates that your card issuer compensate you within a week for any money lost due to unauthorised payments.
The Capital on Tap business credit card could be a decent match for emerging businesses since they typically require cash flow and billing support in nascent stages. The relatively lenient eligibility requirements also make it easier for new companies with no credit history to access capital for logistics and inventory. Meanwhile, the zero-fee concept and low APRs help entrepreneurs save money on interest payments and operating expenses. Although the company can open new accounts in minutes with your personal and business details, a low daily cash withdrawal limit of £400 and a high cash advance APR of above 35% can pose a challenge for businesses dealing in cash.
