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Last updated on September 9th, 2021
- Unlimited 2% cash back on every purchase
- Up to 20 additional employee cards free of charge
- No foreign transaction fees
- Interest rates as low as 9.99%
- Regular Purchase APR: 24.99%
- Cash Advance APR: 34.99%
- Penalty APR: 34.99% for 12 months
- Annual Fee: $199
- Late Payment Penalty Fee: $29
At a Glance
The Capital on Tap Founder Rewards Business Visa is the premium business card offering from Capital on Tap and WebBank. The card features the same credit limits of up to $50,000 as the no annual fee card, an APR as low as 10%, and the benefit of 2% cash back on all purchases – for a $199 annual fee.
Idea for Those Who:
- Have a US registered business with at least three months of trading history
- Have a good to excellent credit score
- Want additional employee cards to maximize rewards earning
- Prefer earning a higher level of cash back rewards
- Spend enough to justify the $199 annual fee
Capital on Tap Founder Rewards Business Visa Credit Card Review
The Capital on Tap Founder Rewards Business Visa is a cash back rewards credit card for small-to-medium-sized businesses.
Earn Double the Rewards
The only differences between the Capital on Tap Founder Rewards and the Capital on Tap Regular Rewards Cards are the number of rewards the cards earn and their introductory bonuses.
Where the Regular Rewards earns 1% back on every purchase, the Founder Rewards Card earns double that rate – for a $199 annual fee. The Founder Rewards visa earns unlimited 2% cash back on every purchase, which can be a tantalizing proposition given the ability to add up to 20 employee cards to the account – at no additional cost.
New accounts can also benefit from a signup bonus that offsets the annual fee for the first year. New accounts earn $199 back after spending $15,000 in purchases within the first three months of opening their account. For the company that plans to issue multiple cards, and use them, this is a decent offer that can really make this card worthwhile.
Credit Limits of Up to $50,000
Part of the allure of the Capital on Tap lending format is easy access to the credit and funding that businesses need. Both the Capital on Tap Founder Rewards Business Visa and the Regular Rewards Visa accomplish this goal, with credit limits of up to $50,000 for eligible companies.
These credit lines, however, come with some caveats. The $50,000 is the top-end of the credit limits, with lines starting at just $1,000. Additionally, the card is only open to businesses that are the US chartered, have more than three months of trading history, and have an annual turnover of at least $30,000.
Excellent APR – for Some
The lower end of the purchase APR scale is worrying, however. At almost 35%, the interest rate for purchases might be a hindrance for companies that need to finance costs over time – making it a decent option only for those small businesses that need a last-resort funding option. Fortunately, Capital on Tap does not charge interest if the entire balance is paid-in-full each month.
Other Card Features
Other notable card features of the Capital on Tap Cards include:
- Ability to repay with flexible ACH options or using a debit card
- Integrations with accounting software packages for easy business expense management
- Regular account reviews to see if the business can receive a higher credit limit or lower interest rate
- No foreign transaction fees
- No annual fee
- Visa business tools and support
Should You Apply for the Capital on Tap Founder Rewards Business Visa Credit Card?
The Capital on Tap Founder Rewards Business Visa is an enticing business and corporate card for companies that plan to issue multiple cards and spend heavily. The $199 annual fee is easily offset by the generous introductory offer, and the prospect of 2% cash back on all purchases makes the card a potent earner. The fact that those rewards aren’t capped is even better news.
While the APR can be punishing for companies with average credit scores, for those well-positioned (read: with excellent credit), the APR is exceptional. In fact, that rate is half the national average – making the card an ideal option for companies that want rewards for statement credits. Still, the Capital One® Spark® Cash might offer better value.