Capital on Tap Business Credit Card review

Capital on Tap Business Credit Card review

Updated: September 28, 2022

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Updated: September 28, 2022

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Ratings Policy
Business Rating:
3.4 rating
3.4 rating
3.4 / 5
Rewards Value2.0
APR1.0
Rewards Flexibility3.0
Features3.0
Issuer Customer Expierence5.0

In a Nutshell:

The Capital on Tap Business Credit Card extends credit limits up to $50,000 for those who qualify, which is one of its biggest benefits. Cardholders can also earn a flat 1.5% cash back and one of the best welcome offers available on a no-annual-fee business card.

Learn more about this card

Rewards rate

1.5% cash back on all purchases

Average

Sign-up Bonus

$200 after you spend $15,000 in your first three months

Fair

Annual Fee

$0

Excellent

Estimated Average Annual Rewards Value (assumes $48,000 annual spend, includes sign up bonus averaged over three years)

$787

Very Good

APR

9.99%-34.99% (variable)

Poor

Why you might want the Capital on Tap Business Credit Card

The Capital on Tap Card offers generous credit limits that can be important for businesses who have a lot of expenses each month. There are no hidden fees either, so cardholders can keep their card expenses low provided they pay their balance in full each month. Business owners who choose the Capital On Tap Business Credit Card are also eligible for unlimited company cards, which can help them maximize rewards and track spending for all of their workers.

High credit limit potential

Securing a higher credit limit can be crucial for businesses who have a lot of regular expenses each month, and the Capital on Tap Business Credit Card offers credit limits up to $50,000. This is a higher credit limit than many business cards can offer.

Earn rewards for spending

The Capital on Tap Business Credit Card offers a flat 1.5% cash back for each dollar you spend, which is better than the standard rate of 1% back some cash back cards offer. This rewards rate lets you earn $15 for every $1,000 in purchases your business makes.

No hidden fees

Cardholders don’t pay any hidden fees to carry this card. The Capital on Tap Business Credit Card doesn’t even have an upfront fee for cash advances.

Why you might want a different card

There are several reasons to consider a different card, and that’s especially true if you’re hoping to maximize rewards. Also note that this card doesn’t have an intro APR, and that the minimum payment requirement can be steep if you have a large balance.

Limited opportunity to maximize rewards

While earning 1.5% back for each dollar you spend can help you rack up rewards quickly, keep in mind that other business cards offer bonus categories that can help you maximize rewards on select business-related purchases.

Your APR could be up to 34.99%

Cardholders who choose the Capital on Tap Business Credit Card will be assigned a variable APR of 9.99% to 34.99%. If you apply and your APR winds up being on the higher end of that range, carrying a balance on your card will become costly in a hurry.

You have to pay at least 10% of your balance each month

Not only does this card not have an introductory rate, but you have to make a minimum payment of 10% of your balance each month or $100 (whichever is greater). This minimum payment could be a hardship during months when cash flow is tight.

No meaningful cardholder benefits

At the moment, the Capital on Tap Business Credit Card doesn’t have many of the same benefits some business cards do. For example, cardholders aren’t eligible for any travel insurance protections or travel perks in general.

Marketing materials for the Capital on Tap Business Credit Card do say that you’ll be able to integrate your account with Xero, FreeAgent, Quickbooks and more in the future, but that’s about it.

How does the Capital on Tap Business Credit Card compare to other business credit cards?

As you search for the right small business credit card, you should take the time to compare several options with the rewards and benefits you want the most. The chart below compares three other rewards cards for business that may be worth your consideration.

Ink Business Preferred® Credit Card
Ink Business Preferred® Credit Card
Capital One Spark Cash Plus
Capital One Spark Cash Plus
Ink Business Unlimited® Credit Card
Ink Business Unlimited® Credit Card
Rewards rate

Earn 3X points on up to $150,000 spent each year on shipping purchases, internet, cable and phone purchases, select social media advertising and travel purchases (then 1X points) and 1X points on other purchases

Rewards rate

Earn an unlimited 2% cash back on every purchase; 5% cash back on hotels and rental cars booked through Capital One Travel

Rewards rate

Earn an unlimited 1.5% cash back on every purchase

Introductory offer

Earn 100,000 bonus points when you spend $15,000 within three months of account opening

Introductory offer

Earn up to $1,000 — $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months

Introductory offer

Earn $750 when you spend $7,500 within three months of account opening

Annual Fee

$95

Annual Fee

$150

Annual Fee

$0

Other things to know

  • Free employee cards
  • Comes with select travel insurance and purchase benefit
Other things to know

  • Charge card with no preset spending limit
  • Free employee cards
  • Earn an annual $200 cash bonus every year you spend $200,000 or more
Other things to know

  • 0% intro APR on purchases for 12 months, followed by a variable APR of 15.49% to 21.49%
  • Free employee cards
  • Comes with select travel insurance and purchase benefits

Capital on Tap Business Credit Card vs. Ink Business Preferred® credit card

While the Ink Business Preferred® credit card does charge a $95 annual fee, this card lets users earn 3X points on up to $150,000 in spending each year in popular business categories (then 1X points). Plus, new cardholders can earn 100,000 bonus points worth $1,000 in gift cards or $1,250 in travel after spending $15,000 on purchases within three months of account opening.

It’s also worth noting that this card’s rewards are extremely flexible, especially for travel. You can use your points for gift cards, merchandise, cash back or statement credits, but you can also use them for travel through the Chase portal. Separately, you can transfer points to Chase Ultimate Rewards airline and hotel partners like British Airways, Southwest Rapid Rewards and Marriott Bonvoy.

Capital on Tap Business Credit Card vs. Capital One Spark Cash Plus

The Capital One Spark Cash Plus is unique because it’s a charge card that requires you to pay your bill in full each month. However, this also means there’s no preset spending limit, so it’s a good choice for businesses who need extraordinary spending power every month.

This card also offers a flat 2% cash back on all your business expenses, as well as an annual $200 cash bonus every year you spend $200,000 or more. A $150 annual fee applies, however, so this card isn’t for everyone.

Capital on Tap Business Credit Card vs. Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card is very similar to the Capital on Tap Business credit Card since it offers a flat 1.5% cash back on spending with no annual fee. However, the Ink Business Unlimited® Credit Card offers a sign-up bonus of $750 after you spend $7,500 on purchases within three months of account opening.

Even better, cardholders can enjoy 0% intro APR on purchases for 12 months, followed by a variable APR of 15.49% to 21.49%. This introductory rate for purchases can be immensely beneficial for start-ups who need access to credit and some time to pay their purchases down.

How to use the Capital on Tap Business Credit Card:

  • Spend at least $15,000 within three months of account opening in order to earn the $200 in bonus cash.
  • Use your card for all your business-related spending and bills in order to earn more cash back.
  • Sign up for free employee cards so you can begin earning rewards on employee purchases for business.
  • Pay your balance in full to avoid paying interest, particularly if you were assigned one of this card’s highest APRs.

Is the Capital on Tap Business Credit Card right for you?

The fact that the Capital on Tap Business Card offers credit limits of up to $50,000 with no annual fee makes it unique among business credit cards. However, it’s ordinary rewards rate and overall lack of benefits mean it may not be the most lucrative option available, even if you’re set on avoiding an annual fee.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

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