Capital on Tap Business Credit Card review: Worth it for a chance at a high limit?

Though its cash back rate is mediocre, it stands out for its soft pull application process and potentially high credit limit

Written by

India Davis

Edited by

Courtney Mihocik

Reviewed by

Re'Dreyona Walker

Apr 11, 2024 / 9 min

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for and how we rate our cards. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Snapshot

3.5

Bankrate rating

Bottom line

The Capital on Tap Business card could be a great fit for small-business owners who need a lot of purchasing power and want to streamline earning rewards. But if you’re looking to maximize your long-term cash back, there are plenty of competing cards that offer higher rates and better perks.

Best for potentially high credit limit

Rewards value

Rating: 2 stars out of 5

2 / 5

APR

Rating: 1 stars out of 5

1 / 5

Rewards flexibility

Rating: 3 stars out of 5

3 / 5

Features

Rating: 3 stars out of 5

3 / 5

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Recommended Credit

Intro offer

Spend $15,000 in the first 3 months for $200 cashback

$200

Offer valuation

We calculate this number by multiplying the card's intro offer by Bankrate's valuation of this issuer's rewards program, showing you how much your points or miles are worth in dollars.

1.5%

Rewards Rate

1.5% unlimited cashback with no annual fee

Annual fee

Regular APR

On This Page

Capital on Tap paid for the creation of the content on this page. However, the information is based on our unbiased opinion, and the provider did not have any input into the review.

Capital on Tap Business Credit Card Overview

Boasting a chance at a very high credit limit, an impressive low-end APR and a flat 1.5 percent cash back rate, all at no annual fee, the Capital on Tap Business Credit Card stands as a solid low-cost option for small-business owners looking to keep things simple. This card makes it easy to earn rewards on your spending without the headache of tracking categories or juggling multiple cards, and if you qualify for the low-end APR, you could get the wiggle room you need to finance large expenses. Plus, applying has no impact on your credit score.

Compared to some of the best business credit cards on the market, though, the Capital on Tap Business card may fall a bit short when it comes to long-term value and flexibility. While the card is a good low-maintenance option, its high-end APR is extremely inflated and it only offers few features that set it apart as the best choice for earning rewards, financing business expenses or scoring business-centric perks.

Even so, the card may still make sense based on your priorities and spending habits, especially if you’re a big spender looking for a chance at a very high credit limit. Read on to learn where this card shines, where it falls short and whether it’s worth applying.

Rewards
1.5 percent cash back on all purchases

Expert Appraisal: Typical
See our expert’s analysis
Welcome offer
$200 cash back after you spend $15,000 in the first three months

Expert Appraisal: Weak
See our expert’s analysis
Rates and fees
No annual fee

No foreign transaction fees

No fees on cash advances or returned payments

$29 late payment fee

18.49 percent to 35.99 percent variable APR

Expert Appraisal: Unimpressive
See our expert’s analysis
Other cardholder perks
Apply with no impact to your credit score

Free employee cards

Up to $50,000 credit limit, based on applicant’s creditworthiness

Expert Appraisal: Good
See our expert’s analysis

Capital on Tap pros and cons

Pros

It offers a chance at a credit limit as high as $50,000, based on creditworthiness.
It has relatively few fees and includes no annual fee or foreign transaction fees, making it a low-cost addition to your wallet.
Applying won’t impact your credit score, so it may hold special appeal if you’re trying to keep your score stable.

Cons

The card’s high-end APR is extremely high — far above the rate you’ll find on most competing cards.
It offers few noteworthy perks, even for a no-annual-fee card.
Its sign-up bonus spending requirement is very high.

Why you might want the Capital on Tap card

The Capital on Tap business card features a very simple rewards program and benefits. Still, the card features a few noteworthy extras. While the card boasts a chance at a very high credit limit — a valuable perk for many small-business owners, to be sure — it otherwise offers few business-centric benefits.

Credit limit: Higher-than-average limit

One of the Capital on Tap card’s most appealing selling points is its credit limit potential. You could qualify for a credit limit of up to $50,000 — far higher than many traditional business cards can offer. If you need a lot of purchasing power and would rather not get a pricey business charge card, the Capital on Tap Business card could be a solid alternative. Keep in mind, however, that a $50,000 limit is not guaranteed and depends on your creditworthiness.

Perks: Employee-friendly business management

A great perk that comes with the Capital on Tap is access to free employee cards, which is a great way to maximize points on all purchases for your business. You also get to set individual limits for each card to stay in budget. There is also no need to worry about whether an employee will go over without you knowing, as the card sends real-time notifications when they near any spending limit you set.

Furthermore, the card comes with an auto rental collision damage waiver and travel and emergency assistance. The issuer’s website also notes forthcoming accounting integrations with tools like Xero, FreeAgent, Quickbooks and more designed to make it easier to pair transactions with your accounting software.

Why you might want a different business credit card

Though the card offers a high credit limit as well as a consistent flat rewards rate, there are a few drawbacks to consider, such as its subpar welcome offer and the fact that there are other business rewards cards with a higher flat rewards rate. Plus, depending on your creditworthiness, you may be saddled with a hefty APR.

Welcome offer: High spending requirement with low reward

The Capital on Tap Business card’s current welcome offer holds decent value but carries a relatively high spending requirement. You’ll earn $200 after you spend $15,000 with the card in the first three months. While the Capital on Tap Business card deserves credit for offering any sort of sign-up bonus, a $200 bonus is a bit lower than the offers you’ll find on several competing cards.

Though a sign-up bonus should never be your main reason for applying for a card, it can sometimes be the deciding factor when comparing two otherwise similar cards. This puts the Capital on Tap Business card at a slight disadvantage when you consider it next to comparable flat-rate business cards.

APR: A sky-high maximum

While you could wind up with an APR as low as 18.49 percent variable — slightly lower than the average business card interest rate and below the average credit card APR — you could also face a rate as high as 35.99 percent variable. That’s an extremely wide range of potential APRs and the high-end is very high indeed — higher than even some credit-building and store credit cards.

Several no-annual-fee business cards not only match the Capital on Tap Business card’s cash back rate and sign-up bonus offer, but also carry lower high-end APRs and 0 percent intro APR offers.

Rewards: Competitors beat the cash back rate

You’ll earn a flat 1.5 percent cash back rate on all purchases with the Capital on Tap Business card. This is a common flat rate for a business rewards card, but it’s not the highest rate you can get, even if you don’t want to pay an annual fee.

A few competing business cards offer 2 percent back or 2X points on all spending with no annual fee. If earning rewards is your focus and you want to stick with a card that earns at the same rate on all purchases, there’s not much reason to opt for the Capital on Tap Business card and its 1.5 percent cash back rate over a no-annual-fee card that offers 2 percent back.

If you’re set on avoiding an annual fee, the Capital on Tap Business card’s unlimited 1.5 percent rewards rate can still offer solid value. It just doesn’t stand out from the crowd.

How the Capital on Tap Business card compares to other business rewards cards

While the Capital on Tap Business card is a decent option for small-business owners who want to keep earning rewards simple and get a chance at a high credit limit, it’s far from the most lucrative or flexible option. If you’re willing to settle for a potentially lower credit limit or pay an annual fee, you may enjoy better long-term value with one of these alternatives.

Capital on Tap Business Credit Card

Bankrate Score

3.5

Apply now

on Capital On Tap's secure site

Annual fee

Intro offer

$200 Cashback

Spend $15,000 in the first 3 months for $200 cashback

Rewards rate

1.5%

1.5% unlimited cashback with no annual fee

Recommended Credit Score

Good to Excellent (670 – 850)

Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card

Bankrate Score

3.9

Apply now

on Bank of America's secure site

Annual fee

Intro offer

$300

Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.

Rewards rate

1.5%

Earn unlimited 1.5% cash back on purchases.

Recommended Credit Score

Excellent (740 – 850)

Capital One Spark Cash Plus

Bankrate Score

4.7

See Rates & Fees , Terms Apply

Apply now

on Capital One's secure site

Annual fee

$150

Intro offer

$1,200 cash back

$1,200 cash back once you spend $30,000 in the first 3 months

Rewards rate

2% - 5%

Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions

Recommended Credit Score

Excellent (740 – 850)

At a glance, the Bank of America Business Advantage Unlimited Cash Rewards card is yet another 1.5 percent flat-rate business cash back card that charges no annual fee. But thanks to the Preferred Rewards for Business program, this card could offer unmatched value if you have a banking relationship with Bank of America. Depending on how much money you keep in your qualifying Bank of America business deposit accounts and Merrill business investment accounts, you can boost your rewards rate by up to 75 percent to 2.62 percent back on all qualifying purchases. That’s easily the highest flat rate you’ll find on a business card. Plus, the card carries an introductory APR offer, an easier-to-reach sign-up bonus, and a more reasonable variable APR range.
Don’t let the annual fee scare you off. If your small-business spends heavily, the Capital One Spark Cash Plus should more than earn its keep thanks to its unlimited 2 percent flat cash back rate. Plus, you can get your $150 annual fee (See Rates & Fees) refunded every year you spend at least $150,000. If you spend more than $50,000 per year, the Capital One Spark Cash Plus should earn you more rewards than the Capital on Tap Business card. That said, one potential catch with the Spark Cash Plus is that it’s a charge card. While this could give you increased flexibility via no preset spending limit, it also means you’ll need to pay off your balance in full each month.

Best cards to pair with the Capital on Tap

Since the Capital on Tap Business card earns 1.5 percent back on all purchases, it could pair especially well with cards that earn a higher rate in spending categories relevant to your business. By combining a flat-rate cash back card like the Capital on Tap Business card with a tiered-category card, you can maximize your earnings on expenses that eat up the most of your business’ budget. Plus, it can still cover miscellaneous expenses that would otherwise earn only 1 percent back.

The Bank of America Business Advantage Customized Cash Rewards Mastercard credit card is one solid option. As a “choose your own bonus category” card, it earns 3 percent cash back in the category of your choice and 2 percent back on dining purchases (on the first $50,000 in combined choice category and dining purchases each calendar year, then 1 percent). You can choose from several popular business spending categories, including travel, office supply stores, gas stations (including EV charging stations), computer services, telecom and wireless services, business and consulting services. You can even change your choice category once per calendar month to match your business’ spending habits.
If your expenses are a bit more consistent, the Ink Business Cash Credit Card may be worth a look. It offers 5 percent cash back on the first $25,000 you spend in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, as well as 2 percent cash back on the first $25,000 you spend in combined purchases at gas stations and restaurants each account anniversary year. Additionally, it earns 1 percent cash back on all other purchases.

Who is the Capital on Tap right for?

If you identify with either of the business owner profiles below, the Capital on Tap card might be the right choice for you.

Small-business owners can have a lot on their plates, and figuring out the best way to earn points shouldn’t take up most of their time. If you find yourself constantly paying expenses that fall out of the typical cash back business categories like travel and internet services, it’s best to get a flat-rate card. With the Capital on Tap’s 1.5 percent on all purchases, you don’t have to worry about when or where you earn cash back.

Not to mention the card comes with access to business tools that can take your company, whether a local shop or up-and-coming startup, one step further. Features like free employee cards with customizable spending limits and real-time spend alerts can make managing finances easier.
Sometimes, it’s not about the rewards, but the budget. While a charge card can be a great tool for expensive purchases, they require you to pay off the full balance at each billing cycle. Meanwhile, business owners can have up to a $50,000 credit limit with the Capital on Tap Business card, depending on creditworthiness.

This gives a lot of room in your budget without the pressure of having to pay it off instantly. Be aware that this card’s APR can go as high as 35.99 percent. However, if you receive an interest rate closer to the low-end rate of 17.74 percent, having a temporary balance won’t be too bad of an option.

Bankrate’s Take — Is the Capital on Tap Business card worth it?

Considering it charges no annual fee and offers unlimited cash back, the Capital on Tap Business card may be worth it if having a chance at a high credit limit is one of your top priorities. Otherwise, it may not be your most rewarding business card option. Not only is the card’s cash back rate quite average, but it also has no introductory APR offer, a high bonus spending requirement, a potentially sky-high ongoing APR and only a few noteworthy perks.

Frequently asked questions

Though the Capital on Tap Business card is meant for small businesses, those businesses must be established. To be eligible, you need to be a director or majority shareholder of the company, the business (and you) must be in the U.S. and the business must earn at least $30,000 in annual revenue.
The Capital on Tap can be used internationally anywhere that accepts Visa cards and it doesn’t charge a foreign transaction fee. However, there are a few countries where the card will be denied due to compliance with certain national and international laws.

Compare the best business credit cards

Written by

India Davis

Editor, Credit Cards

Capital on Tap Business Credit Card review: Worth it for a chance at a high limit?

The Bankrate promise

Snapshot

Capital on Tap Business Credit Card

Capital on Tap Business Credit Card Overview

Rewards

Welcome offer

Rates and fees

Other cardholder perks

Capital on Tap pros and cons

Pros

Cons

Why you might want the Capital on Tap card

Credit limit: Higher-than-average limit

Perks: Employee-friendly business management

Why you might want a different business credit card

Welcome offer: High spending requirement with low reward

APR: A sky-high maximum

Rewards: Competitors beat the cash back rate

How the Capital on Tap Business card compares to other business rewards cards

Capital on Tap Business Credit Card

Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card

Capital One Spark Cash Plus

Capital on Tap Business card vs. Bank of America® Business Advantage Unlimited Cash Rewards Mastercard®

Capital on Tap Business card vs. Capital One Spark Cash Plus

Best cards to pair with the Capital on Tap

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

Ink Business Cash® Credit Card

Who is the Capital on Tap right for?

Small-business owners

Business owners with high budgets

Bankrate’s Take — Is the Capital on Tap Business card worth it?

Frequently asked questions

What are the requirements for the Capital on Tap card?

Can you use your Capital on Tap Business Credit Card abroad?

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