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Capital on Tap Business Credit Card Review

Capital on Tap Business Credit Card

Capital on Tap Business Credit Card Review

Sign-up Bonus
$1200 cashback on $50K of spend in the first 6 months. Apply by September 28, 2022
Rewards Rate
1.5% unlimited cashback
APR
9.99% to 34.99% variable
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Capital on Tap Business Credit Card best for?

If you’re looking for a business credit card that offers cash back rewards and enough purchasing power to cover large company expenses, the Capital on Tap Business Credit Card may be an ideal choice.

Along with a flat cash back rate on every purchase, this no-annual-fee card offers a credit line of up to $50,000.

Just beware — unless you qualify for the lower end of the card’s APR — you could potentially be subject to an extremely high interest rate. You should also know that your business must be active for more than six months and have at least $2,500 in revenue per month to be eligible.

We’ll review the pros and cons of the Capital on Tap Business Credit Card and show how it compares to similar business credit cards to help determine if its the right choice for you.

Capital on Tap Business Credit Card overview

     

    • Limited Time Offer: $1200 cashback on $50K of spend in the first 6 months. Apply by September 28, 2022
    • 1.5% unlimited cashback
    • No foreign transaction or ATM fees
    • Free unlimited supplementary cards for your employees
    • Redeem for cashback or travel and retail gift cards to make your rewards go even further
    • Spend management tools to monitor employee cards
    • Capital on Tap Business Credit Cards are issued by WebBank
  • Credit needed:
    660 850
    Excellent/Good
  • Applying will not impact your credit
  • Unlimited cards for your company
  • Foreign transaction fees: None
  • No U.S. ATM charges
  • Intuitive spend management platform

Intro Purchase APR

N/A

Regular Purchase APR

9.99% to 34.99% variable

Intro BT APR

N/A - no balance transfer

Regular BT APR

N/A - no balance transfer

Annual Fee

$0

Cash Advance Fee

None

Foreign Transaction Fee

None

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Potential for a high credit line
  • Generous sign-up bonus
  • Limited fees
  • Fast application process

Cons

  • No intro APR
  • Modest cash back rate
  • Restrictions on which businesses qualify

What we like about the Capital on Tap Business Credit Card

  • Potentially high credit line

    The Capital on Tap Business Credit Card offers a very high credit limit (up to $50,000) to eligible cardholders.

    Note that your credit limit will be determined by your credit quality, and your account will be reviewed periodically to see if you qualify for a higher credit limit (up to the maximum).

  • Generous sign-up bonus

    The Capital on Tap Business Credit Card offers a sign-up bonus of $1200 cashback on $50K of spend in the first 6 months. Apply by September 28, 2022.

    Compared to several other business credit cards that offer cash back rewards, this is a generous bonus.

  • Limited fees

    Along with offering no annual fee, the Capital on Tap Business Credit Card doesn’t charge cash advance fees, returned payment fees or U.S. ATM fees. As for foreign transaction fees — there are none.

    There is, however, a late payment fee of $29.

  • Fast application process

    The Capital on Tap Business Credit Card offers a quick application process — which, according to its site, takes under two minutes. In addition, applicants receive a response within 48 hours and, if approved, receive the credit card within four days.

What to watch out for with the Capital on Tap Business Credit Card

  • No intro APR

    Because the Capital on Tap Business Credit Card doesn’t offer a 0% intro APR on purchases, you’ll be subject to interest charges at an APR of 9.99% to 34.99% variable if you carry a balance on your card month over month.

  • Modest cash back rate

    Although the Capital on Tap Business Credit Card offers a flat rate of 1.5% unlimited cashback on every purchase, it does not provide the opportunity to earn a higher rate in popular business spending categories, like travel, dining or internet services.

  • Restrictions on which businesses qualify

    To be eligible for the Capital on Tap Business Credit Card, your business must meet the following criteria: Be active and running for more than six months; have at least $2,500 in revenue per month; or make money from mostly selling goods and/or providing services.

    The following types of businesses are not eligible: sole proprietorships, charities and nonprofits, trust and funds, or clubs and other non-registered organizations.

Alternative business credit card

Compare it to the Capital One Spark Cash Plus

| Disclosures
Capital One Spark Cash Plus
Capital One Spark Cash Plus
on Capital One's secure site
N/A
N/A
$150
2% Cash Back on every purchase; 5% Cash Back on hotels and
  • Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening
  • Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions
  • Comes with no preset spending limit, so it can adapt to your needs based on your spending behavior, payment history and credit profile
  • Earn an annual $200 cash bonus every year you spend $200,000 or more
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
  • Add employee cards for free, and earn unlimited 2% cash back from their purchases
  • $150 annual fee
  • Spark Cash Plus has no APR because your balance is due in full every month
680 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you spend an extremely large amount on business expenses each month and want the opportunity to earn an even higher cash back rate while doing so, you may want to consider the Capital One Spark Cash Plus.

This card offers 2% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel. Plus, earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. The card also offers an annual $200 bonus each year that you spend $200,000 or more.

Unlike the Capital on Tap Business Credit Card, the Capital One Spark Cash Plus charges an annual fee of $150. However, you can earn enough cash back to cover that amount by charging approximately $625 per month on your card each year ($625 x 12 months x 2% = $150 cash back).

While the Capital One Spark Cash Plus doesn’t have a preset spending limit, know that this doesn’t mean unlimited spending potential. Instead, the amount you can spend can adjust over time based on your spending behavior, payment history and credit profile.

You should also know that because the Capital One Spark Cash Plus is a charge card, you must pay your balance in full each month. Otherwise, you’ll be charged a late fee of 2.99% on your outstanding statement balance, and your account will be considered past due until the payment is made in full.

That said, the Capital One Spark Cash Plus does offer more business-related benefits than the Capital on Tap Business Credit Card, including roadside assistance, access to Capital One Travel, extended warranty protection and more.

Compare the Capital on Tap Business Credit Card to similar cards

Comparison of four different credit cards
Capital on Tap Business Credit Card Capital One Spark Cash Plus Capital One Spark Cash Select - 0% Intro APR for 12 Months Ink Business Cash<sup>®</sup> Credit Card
Capital on Tap Business Credit Card Capital One Spark Cash Plus Capital One Spark Cash Select - 0% Intro APR for 12 Months Ink Business Cash® Credit Card
Apply Now
on Capital On Tap's secure site
Apply Now
on Capital One's secure site
Apply Now
on Capital One's secure site
Apply Now
on Chase's secure site
Welcome Offer
$1200 cashback on $50K of spend in the first 6 months. Apply by September 28, 2022 Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening N/A Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.
Rewards Rate
1.5% unlimited cashback 2% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
Annual Fee
$0 $150 $0 $0
Regular APR
9.99% to 34.99% variable N/A 17.49% - 25.49% (Variable) 15.49% - 21.49% Variable
Recommended Credit
Excellent/Good Excellent/Good Good Excellent
Card Details
Capital on Tap Business Credit Card Capital One Spark Cash Plus Capital One Spark Cash Select - 0% Intro APR for 12 Months Ink Business Cash® Credit Card

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

If you’re in the market for a business credit card with a potentially high credit limit, simple rewards structure and no annual fee, the Capital on Tap Business Credit Card is a solid option.

But if you’d prefer a card with a higher cash back rate and sign-up bonus, as well as more robust benefits and no preset spending limit, the Capital One Spark Cash Plus will be a better fit. That is, as long as you pay your balance in full each month and earn more than enough cash back rewards to cover the annual fee each year.