This paper analyses existing research on social capital, school choice and educational attainment to consider the questions that need to be answered if the role of social capital in reducing or extending social inequality is to be addressed. We identify a need to distinguish between: social surveillance and genuinely educative forms of social capital; between parent–pupil interactions and family: school links that generate positive external spin-overs and those that simply enhance the competitive position of the individual child. We argue for a more gendered and more child-centred analysis of social capital that considers the role of social capital in protecting and enhancing school reputation, and for an analysis which considers possible linkages between bonding, bridging and linking social capital.