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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.
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
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.
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.
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.
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| 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 |
|---|---|---|---|
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Apply Now on Capital On Tap's secure site
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Apply Now on Capital One's secure site
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Apply Now on Capital One's secure site
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Apply Now on Chase's secure site
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| 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 |
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.