Capital on Tap vs Funding Circle at a Glance
| Feature | Capital on Tap | Funding Circle Cashback | Winner |
|---|---|---|---|
| Annual fee | £0 (free tier) / £299 (Pro) | £0 | Tie |
| Representative APR | 34.9% variable (from 13.86%) | 34.9% variable (from 14.9%) | Tie |
| Cashback | 1% from the first pound, uncapped | 2% for 6 months, then 1% uncapped | Depends on timing |
| Introductory offer | None | 2% for 6 months (capped at £2,000) | Funding Circle |
| Credit limit | Up to £250,000 | Not published for the cashback card | Capital on Tap (published) |
| Foreign transaction fee | None | None | Tie |
| Eligibility | Ltd & LLP, £24k turnover | Ltd only, 1 yr trading, £30k | Capital on Tap |
| Best for | Steady spend, high limits, overseas | Heavy first-six-months spend | Either |
These two cards are close. Both are cashback business credit cards for limited companies, both charge no FX fees, and both skip the bank-account switch. We checked both against their provider sites in June 2026.
Capital on Tap is the stronger card for most limited companies: the higher limit, cashback from the first pound, deeper expense tooling, and the easier eligibility bar. Funding Circle buys you in with six months of 2%, then the two run line-ball.
Check your Capital on Tap eligibility →Which Is Better for Everyday Business Cashback?
Where Capital on Tap Wins
Capital on Tap pays 1% from the first pound, uncapped, with no intro clock to track. On steady, year-round spend it is the simpler earner, and it never drops to zero in a quiet month.
Where Funding Circle Wins
For the first six months, Funding Circle pays 2%. At £10,000 a month that is £1,200 over the half-year against Capital on Tap’s £600, a £600 head start before both settle to 1%. The 2% is capped at £2,000 of cashback (about £100,000 of spend).
Verdict for Everyday Business Cashback
If you will spend heavily in the first six months, take Funding Circle for the head start. For steady everyday cashback over the long run, Capital on Tap matches the 1% and adds the higher limit, so it is the better default.
That is the trade-off: Funding Circle buys you in, Capital on Tap keeps you.
Capital on Tap vs Funding Circle for Newer or Lower-Turnover Companies
How Capital on Tap Fits Newer or Lower-Turnover Companies
Capital on Tap asks for £24,000 turnover and publishes no minimum trading length, so a younger limited company can often qualify. It also accepts LLPs.
How Funding Circle Fits Newer or Lower-Turnover Companies
Funding Circle wants at least one year of trading and £30,000 turnover, and takes limited companies only. A newer or smaller company is more likely to be declined here than at Capital on Tap.
Verdict for Newer or Lower-Turnover Companies
Capital on Tap is the more realistic application for younger, smaller, or LLP businesses. Both run a soft-search check, so you can test your odds without marking your credit file.
Capital on Tap vs Funding Circle Fees and APR
| Cost | Capital on Tap | Funding Circle Cashback |
|---|---|---|
| Annual fee | £0 (free) / £299 (Pro) | £0 |
| Representative APR | 34.9% variable | 34.9% variable |
| Interest from | 13.86% | 14.9% |
| Foreign transaction fee | None | None |
On paper the cards quote the same 34.9% representative APR. The honest figure is the rate you are actually offered.
Capital on Tap’s 13.86% floor is a best case, not a promise. We found S&P securitisation data showing roughly a third of its balances sit at 50% APR or higher.
When a slow-paying client pushes you into carrying a balance at month-end, that offered rate is what bites. If there is any chance you revolve, confirm your own rate before you apply.
One caveat applies to both, as it does to business cards generally: neither gives you Section 75 protection (that covers personal credit, not business), and card balances are not FSCS-covered. Check the provider terms before relying on either.
Capital on Tap vs Funding Circle Benefits and Value
| Benefit | Capital on Tap | Funding Circle Cashback |
|---|---|---|
| Cashback rate | 1% uncapped from £1 (free tier) | 2% for 6 months, then 1% uncapped |
| Introductory offer | None on free tier | 2%, capped at £2,000 cashback (about £100k spend) |
| Higher-tier cashback | Pro (£299/yr): 1.25% on preloaded spend | None |
| Airline points conversion | Pro: 1:1 to Avios or Virgin; free tier 0.8:1 | None |
| Airport lounge access | Pro: Priority Pass, unlimited, plus 2 guest passes/yr | None |
| Welcome bonus | Pro: 10,000 points for £5,000 spend in 3 months | None (the 2% intro is the offer) |
| Interest-free period | Up to ~42 days if cleared in full | Up to 42 days if cleared in full |
| FX-free spending | Yes | Yes |
These cards reward differently. Funding Circle’s 2% intro is the single most valuable benefit on the table, but only for six months and only up to £2,000 of cashback. After that, both pay a flat 1%. The catch is that £2,000 cap on the 2%.
Capital on Tap’s value sits in its Pro tier. We rate it for frequent travellers: the £299 fee buys 1.25% on preloaded spend, 1:1 Avios or Virgin conversion, and an unlimited Priority Pass.
When you spend a few thousand on flights a quarter, those perks pay for the £299. If you do not fly for work, skip the fee: the free tier’s flat 1% and Funding Circle’s 2% intro are better value.
See the Funding Circle 2% intro offer →Capital on Tap vs Funding Circle Features and Account Tools
| Tool | Capital on Tap | Funding Circle Cashback |
|---|---|---|
| Employee / additional cards | Unlimited, free | Free company cards (earn the same cashback) |
| Virtual cards | Unlimited, with custom limits and expiry dates | Not confirmed on the product page |
| Accounting integrations | Xero, QuickBooks, Sage, FreeAgent (native, daily sync) | Xero, Sage, FreeAgent (auto-sync) |
| Receipt capture | Yes, snap in-app and attach to the transaction | Not confirmed on the product page |
| Mobile app and reporting | Yes, with exports and real-time reporting | Yes, web and app dashboards |
| Soft-search eligibility check | Yes | Yes |
On tooling, Capital on Tap is the deeper platform. When a new hire starts on Monday morning and needs a card the same day, its unlimited free employee cards do the job, and a virtual card with its own limit ringfences a runaway software subscription.
It also syncs natively to Xero, QuickBooks, Sage, and FreeAgent, and lets you snap a receipt in the app so it lands on the right transaction.
Funding Circle covers the essentials. It auto-syncs to Xero, Sage, and FreeAgent and issues free company cards that earn the same cashback.
We could not confirm in-app receipt capture or virtual cards on its page, so if real-time expense tooling matters, Capital on Tap is the safer pick.
Capital on Tap vs Funding Circle Eligibility
| Requirement | Capital on Tap | Funding Circle Cashback |
|---|---|---|
| Sole traders accepted | No | No |
| Limited companies accepted | Yes | Yes |
| LLPs accepted | Yes | No |
| Minimum turnover | £24,000 | £30,000 |
| Minimum trading history | None published | 1 year |
Neither card accepts sole traders or ordinary partnerships. Between the two, Capital on Tap has the lower bar: it accepts LLPs, asks for less turnover, and sets no published trading-length minimum, so newer and smaller limited companies clear it more often.
Apply for Capital on Tap →Capital on Tap vs Funding Circle Overseas Use
| Overseas | Capital on Tap | Funding Circle Cashback |
|---|---|---|
| Foreign transaction fee | None | None |
| Cashback on overseas spend | 1% from £1 | 2% (intro), then 1% |
| Network | Visa | Widely accepted |
We rate overseas spend a tie. Neither card charges an FX fee, so foreign purchases convert at the wholesale rate and cost the same either way, and you still earn cashback on them.
We checked both networks too: Capital on Tap runs on Visa and Funding Circle is widely accepted, so where each card works is not a deciding factor.
Downsides of Capital on Tap and Funding Circle
Reasons to Avoid Capital on Tap
- Limited companies and LLPs only; sole traders cannot apply.
- The 13.86% floor is a best case; the average offered rate is around 46%, so it is dear to carry a balance.
- The richer cashback (1.25%) needs the £299 Pro tier.
- Blocks some categories (gambling, securities, wire transfers, FX purchases).
Reasons to Avoid Funding Circle
- The 2% rate stops after six months and is capped at £2,000 of cashback.
- Limited companies only; no LLPs or sole traders.
- Needs a year of trading and £30,000 turnover, so newer firms may not qualify.
Other Business Credit Cards to Consider
Funding Circle FlexiPay. Spreads a purchase over 1 to 12 months for a per-transaction fee, no interest. Best for spreading a large cost, not earning cashback. Needs a year trading, £100k+ turnover, and a personal guarantee.
Capital on Tap Pro. The £299 tier lifting cashback to 1.25% on preloaded spend plus travel perks. Best for high spenders whose extra cashback clears the fee. The key difference: a paid tier that only pays above a spend threshold.
American Express Business Gold. Earns Membership Rewards rather than cashback. Best for limited companies that travel and whose suppliers accept Amex. The key difference: points and travel value over flat cashback.
Capital on Tap vs Funding Circle FAQs
Should I get Capital on Tap or Funding Circle?
Choose Funding Circle if you will spend heavily in the first six months and want the 2% intro cashback, and you have a year of trading and £30,000 turnover. Choose Capital on Tap if you want cashback from the first pound, a higher credit limit, or are an LLP or younger company. After six months both pay 1%.
Which card has better cashback?
Funding Circle for the first six months at 2% (capped at £2,000), Capital on Tap thereafter and on lower or variable spend, because it pays from the first pound while Funding Circle reverts to 1%.
Can a sole trader get either card?
No. Both are limited companies only, and Capital on Tap also accepts LLPs. Sole traders need an open-access card such as Barclaycard Select Cashback.
Do either of these cards charge FX fees?
No. Both Capital on Tap and Funding Circle charge no FX fees on overseas spend, so foreign purchases cost the same on either.
Which is cheaper if I carry a balance?
Funding Circle starts from 14.9%; Capital on Tap quotes 13.86% but S&P data shows a third of balances at 50% or higher. For most applicants carrying a balance, confirm the offered rate, as Capital on Tap’s average is high.
How we compared Capital on Tap and Funding Circle
How cards were selected. Both are fintech cashback business credit cards open to UK limited companies with no bank-account switch, which makes them direct rivals.
How data was collected. Rates, fees, cashback, and eligibility were checked against capitalontap.com and fundingcircle.com, with the APR distribution drawn from S&P Global securitisation data, in June 2026.
How fees and features were compared. We compared like-for-like on cashback shape, APR, FX fees, limits, and eligibility, and verified regulatory status on the FCA register.
Review and update. We re-verify both providers at least monthly and whenever pricing, eligibility, or terms change. Some links are affiliate links, see our editorial policy.