Why our Capital on Tap Visa promo may work even if you can’t spend £5,000

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Last we launched the biggest sign-up offer on the Capital on Tap Business Rewards Visa credit card we have ever seen.

The offer is exclusive to you as a Head for Points reader. You can receive a two-part sign-up bonus of up to 29,900 points, worth £299 cashback or 29,900 Avios.

You can apply here (and only here – don’t use the standard Capital on Tap home page).

HFP Capital on Tap business Visa credit card blue

As a reminder:

the card is available to any limited company or LLP with turnover of £24,000+

you receive 9,900 points (convertable into 9,900 Avios or £99 cashback) as soon as you make your first purchase

you receive a further 20,000 points (convertable into 20,000 Avios or £200 cashback) if you spend £5,000 within three months

the day-to-day earning rate is a very impressive 1 point (= 1 Avios or 1p cashback) per £1 spent

As a Visa card, the Capital on Tap Business Rewards card is widely accepted. It also has NO foreign exchange fees. Even if you have an American Express Business card, Capital on Tap is ideal for suppliers who are based abroad or who do not take Amex.

Full details are in our Capital on Tap article from Tuesday here.

Why you may want to get the card even if you can’t spend £5,000 in three months

When you look at the details of this offer, your eye is probably drawn to the second part of the bonus – ‘earn 20,000 points for spending £5,000 in three months’.

For a lot of limited company owners who read Head for Points, this may be a squeeze at the moment. Some companies will also be diverting their spend towards triggering the sign-up bonus on American Express Business Gold or American Express Business Platinum after the recent promotion.

You may still want to apply, however

Even if you can’t spend £5,000 in three months to earn the second part of the bonus, the offer may still work for you.

Everyone will earn 9,900 points with their first purchase

The first part of the bonus will be triggered by everyone. Once you have made your first purchase on your Capital on Tap Business Rewards Visa, you will receive 9,900 points – even if you only bought a cup of coffee. This can be converted to £99 cashback or 9,900 Avios.

You keep this part of the bonus even if you don’t manage to trigger the second part.

The annual fee on the Capital on Tap Business Rewards Visa is £99. Depending on your tax rate and how you withdraw cash from your company, the net cost to you will be lower than £99.

This means:

you have paid less than £99 (due to the tax deductibility of the fee) to receive 9,900 Avios, if you choose to convert your Capital on Tap points to Avios

you will have a Visa card in your wallet which will earn you 1 Avios or 1p cashback on all of your business spending over the next 12 months

you will have a Visa card in your wallet with 0% FX fees, which is valuable if you are paying for products or services for your business in other currencies

This is a decent deal in my view.

The initial 9,900 points bonus means that the card is effectively free for the first year and you should be able to pick up a good number of points over the next year.

How to apply

Full details of our Capital on Tap offer are in our introductory Capital on Tap Visa article here. We did an additional Capital on Tap Q&A article here.

Remember that you must have a limited company or LLP with turnover of £24,000 per year, or a run-rate of £2,000 per month if you are a new business.

You MUST apply via this special link to receive the two-part bonus of 9,900 points with your first purchase and 20,000 additional points if you spend £5,000 in 90 days.