Capital on Tap Business Credit Card review: Full details
Capital on Tap Business Credit Card overview
The Capital on Tap Business Credit Card is one of the newest no-annual-fee business cards on the block, and it doesn’t require a hard pull on your credit report. It comes with a solid set of benefits for a no-annual-fee card, including some protections commonly seen on higher-end, more expensive products. Card rating*: ⭐⭐⭐
* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
Capital on Tap launched in 2021, and it’s all about making it “easy” for business owners by streamlining the eligibility and application process. This is one of the card’s main distinguishing factors. In addition, you’ll enjoy unlimited 1.5% cash back and benefits such as a car rental collision damage waiver and travel assistance, along with a simple-to-use online portal for managing your account.
In addition, unlike other small-business cards that are available to freelancers and sole proprietors, the Capital on Tap card is only available if the following criteria are met:
- Your business is not a sole proprietorship, charity, non-profit, trust, fund, club or other non-registered organization
- Your business has been active for at least six months
- You have at least $2,500 per month in revenue
- You make money mostly from selling goods and/or services
That said, since the card has no annual fee and conducts a soft pull on your credit report, it can be a great option for businesses looking for a straightforward way to earn on business expenses. We recommend a credit score of 670 or higher before applying for this card.
Here’s everything you need to know about the Capital on Tap Business Credit Card.
Capital on Tap Business credit card pros and cons
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Capital on Tap Business card welcome offer
Unfortunately, the Capital on Tap Business card does not provide a welcome offer.
Plenty of business cards offer welcome bonuses, so make sure you believe the Capital on Tap card’s benefits are worth forgoing a welcome bonus before applying.
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Related: How to apply for a business credit card
Capital on Tap Business card benefits
While the Capital on Tap Business card does not offer many perks, it does have certain notable benefits. First, its credit limit can be as high as $50,000, which can be a great fit for small businesses looking for a lot of purchasing power.
Most Capital on Tap applications will receive a response within 24 hours. Capital on Tap also provides unlimited additional cards at no extra cost, which allows employees to make purchases on behalf of the company. It also includes easy-to-use expense software for employees.
The card incurs no foreign transaction fees, making it a perfect travel card for your small business and employees who must leave the country. That said, if your small business’s primary expense is travel, there may be better business cards for you than the Capital on Tap card. This card also has no ATM fees.
In addition, as a Visa Corporate product, the Capital on Tap card comes with certain benefits built in, including secondary rental collision coverage (not to be confused with primary car rental insurance) and travel assistance.
You also receive virtual cards as soon as you are approved, and physical cards are generally delivered in four business days.
Earning and redeeming cash back on the Capital on Tap Business card
Ease of use is clearly a theme for the Capital on Tap card with its simple application process, which also holds true for the card’s earning and redemption structure.
Eligible purchases earn unlimited 1.5% cash back. If you enroll in weekly autopay, you will receive 2% cash back.
Cardholders can redeem their cash-back rewards for statement credits to pay off an existing balance or to purchase gift cards. These redemption methods are fairly standard for a cash-back business card.
That said, many business owners will find greater value in a card that earns a transferable rewards currency, like Chase Ultimate Rewards or American Express Membership Rewards. The points earned in those programs can be transferred to airline and hotel partners for maximum value.
Which cards compete with the Capital on Tap Business card?
There are a number of other no-annual-fee cards geared toward small businesses, so here are some that compete with the Capital on Tap Business card.
- If you prefer Chase: The Chase Ink Business Unlimited® Card is another great no-annual-fee business card. With this card, you’ll earn an unlimited 1.5% cash back on all eligible purchases, making it a great product for businesses without a targeted spending category or looking to fill the gaps of non-bonus spending. However, it’s worth noting that the Ink Business Unlimited does impose foreign transaction fees on purchases made outside the U.S. To learn more, check out our full review of the Ink Business Unlimited.
- If you prefer American Express: The American Express Blue Business Cash™ Card earns 2% back on all purchases up to $50,000 per calendar year and then 1% back thereafter while having no annual fee (see rates and fees). The cash back you earn is automatically credited to your account, so there are no steps you need to take for redemption. To learn more, check out our full review of the Blue Business Cash.
- If you want more cash back: The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® is another no-annual-fee card that competes with the Capital on Tap card. It, too, awards 1.5% cash back on all purchases with no limit, but it does charge foreign transaction fees, making the Capital on Tap business card a better option for purchases outside the country. To learn more, check out our full review of the Bank of America Business Advantage Unlimited Cash Rewards card.
For additional options, see our list of best business cards and best no-annual-fee business cards.
Related: Who should (and shouldn’t) get the Ink Business Unlimited?
Is the Capital on Tap Business card worth it?
The Capital on Tap Business card is a solid no-annual-fee option if your business is looking for a cash-back card. It offers 1.5% cash back on all purchases with the option for 2% if you enroll in weekly autopayments. It has no foreign transactions and offers generous credit limits of up to $50,000, which can be useful for businesses with high expenses.
Bottom line
Overall, the Capital on Tap Business Card is a solid business card. It offers a quick and simple application process with no hard pull on your credit score. The card contains few benefits and isn’t available to all small businesses, but it offers unlimited 1.5% cash back.
Other cards can be more valuable if you are already in a given rewards ecosystem or have a smaller-budget business that wouldn’t be able to meet the minimum spend required for approval. But for a simple, general business card, it’s hard to go wrong with Capital on Tap.
Apply here: Capital on Tap Business card
Capital on Tap Business credit cards are issued by WebBank.
For rates and fees of the Amex Blue Business Cash, click here.
