Thin granular fill layers are routinely used to aid the construction of shallow footings seated over undrained soft clay foundations and to increase their load capacity. The influence of time- and strain-dependent reduction in reinforcement stiffness on the bearing capacity and load-settlement response of a footing seated on a thin reinforced granular fill layer over undrained soft clay foundations is examined in this paper using finite-difference method (FDM) numerical models. The time- and strain-dependent stiffness of the reinforcement described by a two-component hyperbolic isochronous tensile load-strain model is shown to influence the bearing capacity and load-settlement response of the reinforced granular base scenario. The additional benefit of a reinforced granular layer diminishes as the time-dependent stiffness of the geosynthetic reinforcement increases. An analytical solution for the ultimate bearing capacity of strip footings seated on thin unreinforced and reinforced granular layers over undrained clay is proposed in this study. The main practical outcome from this study are tables of bearing capacity factors to be used with the analytical solution. The bearing capacity factors were back-calculated from the numerical analyses and account for the influence of rate-dependent properties of geogrid reinforcement materials and clay foundations with soft to very soft undrained shear strength.