How we report your credit information

Capital on Tap reports account information to credit reference agencies every month, based on your account status on the last day of each month. 

Commercial credit reporting

We report approved accounts with an outstanding balance of more than £5. If an account has been closed but still has an outstanding balance, reporting continues until the balance is cleared.

 Information Capital on Tap may report includes:

• Business information, such as business name and address.
• Outstanding balance from the last day of the month.
• Amount past due, which is the sum of any late payments owed.
• Account status (e.g., on time, late, on arrangement, settled, or sold).
• The date the account was opened or closed.
• The approved credit amount.

Personal credit reporting

Your personal credit file is only reported if your account becomes more than 90 days overdue under the Personal Guarantee. Reporting continues until the account is brought back into good standing or the debt is sold.

Why does a business credit card affect my personal credit?

Due to the personal guarantee on the account, it has the potential to affect both your business and personal credit report. We report to business credit bureaus monthly. If your account is defaulted, the personally guaranteed account will also be reported to the personal credit bureau.

I had an active arrangement. Why was this account reported to my personal credit?

Lateness temporarily freezes while an account is in an active arrangement. We report based on the delinquency status of the account at the time the arrangement was set up. If the arrangement is broken and lateness remains, we will report the account's latest status.

I have already paid. Can you remove the default from my report?

No, we cannot remove accurate previous listings from your credit report, as this is against the rules of the credit reporting agency. However, we will report the balance as satisfied.

I never gave permission to report to my personal credit.

As a personally guaranteed card, our terms and conditions state that we have the right to report to your personal credit file if your account is in default.

I think Capital on Tap has inaccurately reported this account on my personal credit.

We apologise for the inconvenience. Please file a dispute directly with the credit reporting agency.