Big news for anyone running a small limited company: Capital on Tap's eligibility criteria no longer include the old £24,000 minimum turnover. If your company is active on Companies House, you can apply - even if it was registered last week.
I hold two Capital on Tap accounts myself and it has been one of my most-recommended cards for years. But every time I recommended it, the turnover rule came along as a caveat. That caveat has now gone, and I think it makes this the easiest route into business Avios earning in the UK.
In this guide
What has changed?
Until now, you needed an annual turnover of at least £24,000 to apply. That was not a high bar for an established business, but it shut out brand new companies - often during the months when they spend the most on setting up.
That minimum is gone. Capital on Tap now says there is no minimum trading history, so businesses of any age can apply. Its own guide says you can apply from your first day of business and use projected turnover if you do not have real figures yet.
One thing to be clear on: no minimum does not mean no checks. You will still be asked about turnover, and your credit limit and approval will depend on your personal and business credit profile. A brand new company should expect a smaller limit to start with.
Who can apply now?
According to Capital on Tap, you are eligible if:
You are an active director or a shareholder with 25% or more of the company, and you live in the UK
The business is a UK-registered Ltd, LLP or PLC
You and the business have no unsatisfied CCJs in the last 12 months
The business shows as active on Companies House
The business is not in an excluded high-risk industry (for example gambling, crypto, most financial services and charities)
The bad news stays the same: sole traders and ordinary partnerships still cannot apply. If that is you, have a look at our best Avios-earning business credit cards guide for other options.
A nice detail: Capital on Tap only does a soft search on your personal credit file when you apply, so a decline will not hurt your personal credit score. The visible search on your business credit file only happens when you sign the credit agreement.
What you earn: Free vs Pro
There are two versions of the card, and the application page shows both, so make sure you pick the one you want.
Free (£0 a year)
1 point per £1 spent (shown as uncapped 1% cashback)
Convert to Avios at 10 points = 8 Avios, via The British Airways Club or Qatar Airways Privilege Club
Convert to Virgin Points at the same 10:8 rate
No foreign exchange fees and unlimited free employee cards
Pro (£299 a year)
Converts at 1 point = 1 Avios (or 1 Virgin Point)
10,000 bonus points when you spend £5,000 in the first 3 months
1.25% on preloaded card spend
Unlimited airport lounge access for the main cardholder, plus Radisson Rewards VIP status
Not sure which one pays off for you? Our Capital on Tap Pro vs Free break-even finder does the maths, and I went through the premium card in detail in my Capital on Tap Pro review.
What does that look like in flights?
Here is a simple example. Put £12,500 of genuine business spend on the free card and you get 12,500 points, which convert to 10,000 Avios. British Airways off-peak economy from London to Amsterdam starts from 10,000 Avios plus £1 one way.
On Pro, the same £12,500 gives you 12,500 Avios, plus the 10,000 bonus points if you hit £5,000 in your first three months. That is more than enough for a Club Europe seat to Amsterdam, which starts from 16,500 Avios plus £15 off-peak.
Want to check your own route? Use our how many Avios for a flight tool, or plug your monthly spend into the Capital on Tap Avios earning calculator. When you are ready to book, Award Travel Finder shows where the reward seats actually are.
My take: who should jump on this?
For me, this change matters most to three groups:
New company directors. The first few months of a business are expensive - laptops, software, a website, maybe some travel. Before, all of that went on a personal card or a debit card. Now it can earn Avios from day one.
Contractors and side-business owners with a small Ltd. If your company turns over less than £24,000, you were locked out. Not any more.
People who were declined before on turnover alone. If that was the only reason, it may be worth another look - but check your credit files first, as Capital on Tap warns that repeat applications in a short period can count against you.
What I would not do is set up a limited company just to get this card. A company brings real costs and duties - incorporation, an annual confirmation statement, filing accounts and, for most people, an accountant. It only makes sense if you have a genuine business. The card also needs a personal guarantee, so you are on the hook if the company cannot pay.
And the usual rule applies: pay the balance in full every month. Capital on Tap advertises rates from 13.86% APR (variable), but your rate is set when you apply, and interest will wipe out the value of any points very fast.
Stacking tips
A Capital on Tap card pairs nicely with a couple of other tricks. You can route payments like your VAT bill through a Curve card to earn points on them - I covered how in paying HMRC through Curve (check the current Curve fees first). And now that Qatar Airways Privilege Club is a conversion option too, you can send Avios straight to Qatar if that is where you plan to redeem.
Does this change make you more likely to apply for Capital on Tap?
The bottom line
Removing the £24,000 turnover rule is a genuinely good move. It opens up one of the very few UK business credit cards that earns Avios and Virgin Points - with no annual fee - to a whole group of new and small companies. If you have a limited company and do not have this card yet, there is now very little stopping you.
I use Capital on Tap for my own business spend. If you would like to apply, using our link below helps support Smart With Points at no extra cost to you.
Got questions about business cards? Drop me a message on Instagram.
Jack