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Capital One Spark Classic Business Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jun 20, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

  • Earn 1% cash back on all purchases

  • No foreign transaction fees & complimentary fraud coverage

  • 24.74% (Variable)

Highlights
  • Enjoy no annual fee
  • Earn 1% cash back on every purchase
  • Build business credit with responsible use
  • Fraud coverage if your card is ever lost or stolen
  • No foreign transaction fees
  • Enjoy business benefits including Year-End Summaries, employee cards at no extra cost and experienced small business customer service

See additional details for Capital One® Spark® Classic for Business

More Info

Who the card is best for

Business owners with less than perfect credit may see the most value from this card. If you have average/fair/limited credit, you may qualify for the Capital One® Spark® Classic for Business. This card also has a $0 annual fee, so you can save money compared with some other business cards that have annual fees upward of $95.

If you have good or excellent credit, check out other business cards that offer higher earning rewards programs. There are business cards that offer high rewards rates in certain categories like travel and office supplies or a high, flat cashback rate.

Rewards breakdown

You can earn 1% cash back on every purchase. Cash back can be redeemed for a statement credit or a check. You can also set up automatic redemption either at a set time each calendar year or at a specific threshold — $25, $50, $100 or $200. Other redemption options include gift cards and more; however, rates for these redemption options may vary and are subject to change without notice.

Where this card stands out in its category

Average/Fair/Limited credit is OK. Unlike most business cards that require good or excellent credit, this card provides business owners with average/fair/limited credit the chance to qualify.

No foreign transaction fee and a $0 annual fee. This card can save you money if you and your employees travel outside the U.S. for business since there is no foreign transaction fee. Plus, the $0 annual fee (and free employee cards) means there’s no cost to carry the card.

Where this card falls short in its category

The cashback rewards your earn with this card are subpar — you earn 1% cash back on every purchase. This is a decent rate considering the card has a $0 annual fee and is for average/fair/limited credit. However, you can do better with other cashback business cards — just keep in mind they may charge an annual fee.

Additional card benefits

The Capital One® Spark® Classic for Business has a wide range of additional card benefits:

  • Quarterly and year-end summaries: Receive itemized reports at quarterly and yearly intervals that can simplify business planning, budgeting and taxes.
  • Downloadable purchase records: Easily download your purchase records to the accounting program you use for your business — whether it’s Quicken®, QuickBooksTM or Excel®.
  • Auto rental collision damage waiver*: Use your card to pay for an eligible car rental, and you may be covered for theft or collision.
  • Travel and emergency assistance*: There’s 24/7 travel and emergency assistance for services including ticket replacement, legal or medical referrals and more.

*Certain restrictions, limitations and exclusions apply. For questions or assistance 24 hours a day, 365 days a year: call the toll-free number on the back of your Visa Business card.

How to use the card most effectively

Consolidate your business spending to the Capital One® Spark® Classic for Business. Opening a business credit card for you and your employees can make it easier to track and pay for business purchases. You don’t have to worry about reimbursing business spending on employees’ personal cards since it will all be connected to the same account. Plus, employee cards come at no additional cost.

Pay your bill on time and in full. Since this card lacks a 0% intro APR period, it’s key to pay each bill in full by the due date so you don’t accrue the 24.74% (Variable) APR. This will help you avoid falling into debt and can also improve your business’s credit score, because payment history is an important factor in business credit scores.

Compare it with the Capital One® Spark® Cash Select for Business

If you’re looking for a higher cashback program and have excellent/good credit, the Capital One® Spark® Cash Select for Business is a good alternative.

Compared with the 1% cash back on every purchase you earn with the Capital One® Spark® Classic for Business, you can ean a slightly higher cashback rate — 1.5% cash back on every purchase, with the Capital One® Spark® Cash Select for Business. Additional benefits of the Capital One® Spark® Cash Select for Business include Visa® Signature perks, such as access to the Visa® Signature Luxury Hotel Collection and Visa® SavingsEdge where you can save up to 15% at select merchants as well as an intro 0% on purchases for 9 months on purchases (after, 14.74% - 22.74% (Variable) APR). This can be helpful if you plan on making new purchases for your business, like computers or desks, and paying them off over time.

The major difference between the two cards — and possibly the deciding factor — is the credit required. The Capital One® Spark® Classic for Business requires average/fair/limited credit while the Capital One® Spark® Cash Select for Business requires excellent/good credit.

Here’s a breakdown of the key features of each card:

Capital One® Spark® Classic for Business Capital One® Spark® Cash Select for Business
Annual Fee $0 $0
Purchase Intro Rate N/A 0% on purchases for 9 months
Regular Purchase APR 24.74% (Variable) 14.74% - 22.74% (Variable)
Rewards 1% Cash Back on every purchase 1.5% Cash Back on every purchase
Sign-Up Bonus N/A One-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
Foreign Transaction Fee None None

Bottom line

The Capital One® Spark® Classic for Business is a decent cashback card for business owners with average/fair/limited credit looking to simplify you and your employees’ spending while earning rewards.


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