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Capital One Spark Classic for Business Review

Capital One Spark Classic for Business Review

Rewards Rate
Earn 1% cash back on all purchases
Extra Perks
No foreign transaction fees & complimentary fraud coverage
Regular Purchase APR
26.99% (Variable)
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Capital One Spark Classic for Business best for?

If you’re a small business owner looking for a credit card to manage your expenses, you’ll find that most require good to exceptional credit. The Capital One Spark Classic for Business, however, is available even if your credit is fair. That makes this $0-annual-fee card an ideal choice for business owners who either have a few dings on their credit history or don’t have much credit history at all.

Capital One Spark Classic for Business overview

    • Earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions
    • No annual fee
    • Build and strengthen credit for your business by using this credit card responsibly
    • $0 Fraud Liability if your card is lost or stolen
    • Free employee cards, which also earn unlimited 1% cash back on all purchases
    • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
    • No foreign transaction fees
  • Credit needed:
    600 679
    Fair
  • Free employee cards
  • Set customized spending limits on employee cards
  • Lock your card or an employee’s if it has been misplaced, lost or stolen
  • Extended warranty
  • Download purchase records in formats such as Quicken®, QuickBooks® and Excel®
  • Pick your preferred monthly payment due date
  • Roadside assistance

Intro Purchase APR

N/A

Regular Purchase APR

26.99% (Variable)

Intro BT APR

N/A

Regular BT APR

26.99% (Variable)

Annual Fee

$0

Cash Advance Fee

3% of the amount of the cash advance, but not less than $10

Foreign Transaction Fee

None

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Accessible with fair credit
  • Earns cash back on every purchase
  • Charges a $0 annual fee
  • Foreign transaction fee: None

Cons

  • Rewards rate is low
  • High interest rate
  • No sign-up bonus

What we like about the Capital One Spark Classic for Business

  • Forgiving of less-than-perfect credit

    When you’re applying for a business credit card, your personal credit history and score can factor into whether you’re approved or denied. Most business cards require the applicant to have good to exceptional credit, meaning those with some blemishes on their credit reports might struggle to get approved.

    However, the Capital One Spark Classic for Business is accessible even if you have fair credit, making it more available to those who may not qualify for other business cards.

    Do note that if you have bad credit (a credit score below 600), you probably won’t qualify for this card. A better choice might be a secured business card such as the Wells Fargo Business Secured Credit Card. With a secured card, you must submit a deposit to the issuer (typically in the amount of your desired credit limit).

  • Flat-rate cash back program

    The Capital One Spark Classic for Business offers 1% cash back on every purchase.

    Since you earn a flat rate on all your spending, you don’t have to keep track of different rewards categories. Plus, there’s no cap on how much cash back you can earn, and your cash back doesn’t expire as long as your account is open and in good standing.

  • No annual or foreign transaction fee

    With a $0 annual fee, you don’t have to pay just to carry this card. And don’t worry about paying a foreign transaction fee on each purchase if business takes you outside the United States, because the Capital One Spark Classic for Business charges none.

What to watch out for with the Capital One Spark Classic for Business

  • Low cash back rate

    Cardholders earn 1% cash back on every purchase with the Capital One Spark Classic for Business. Considering the card is aimed at those with fair credit, a rewards program is a positive feature. But if your credit is good or better, you can likely get a card that earns more.

  • Expensive to carry a balance

    We always recommend paying your credit card in full each billing cycle rather than rolling over a balance to avoid paying interest charges. But that’s especially important with the Capital One Spark Classic for Business, which has a high 26.99% (variable) APR — meaning any interest charges incurred are likely to be expensive.

  • Won't earn a sign-up bonus

    If your credit is fair, it’s probably not a big deal that the Capital One Spark Classic for Business doesn’t offer a sign-up bonus — it’s still one of the best options available for your credit band. However, if you have good to exceptional credit, it’s relatively easy to find business credit cards offering sign-up bonuses worth $250, $500 or even more. If you know you’ve got a big purchase coming up for your business, a credit card sign-up bonus offers a way to offset part of the cost.

Alternate business credit card

Compare it to the Capital One Spark Cash Select - 0% Intro APR for 12 Months

| Disclosures
Capital One Spark Cash Select - 0% Intro APR for 12 Months
Capital One Spark Cash Select - 0% Intro APR for 12 Months
on Capital One's secure site
0% on purchases for 12 months
18.99% - 26.99% (Variable)
$0
1.5% Cash Back on every purchase; 5% Cash Back on hotels and
  • 0% Intro APR for the first 12 months; 18.99% - 26.99% variable APR after that
  • Earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
  • No annual fee
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
  • Rewards won't expire for the life of the account
  • Redeem your cash back rewards for any amount
  • Free employee cards, which also earn unlimited 1.5% cash back on all purchases
  • $0 fraud liability if your card is lost or stolen
660 719

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you have good credit (FICO Scores between 670-739), you may want to look at the Capital One Spark Cash Select - 0% Intro APR for 12 Months instead of the Capital One Spark Classic for Business. You’ll earn a higher rewards rate of 1.5% cash back on every purchase; 5% cash back on hotels and rental cars booked through capital one travel, and the annual fee is still $0. Plus, the card comes with an intro APR on new purchases.

The Capital One Spark Cash Select - 0% Intro APR for 12 Months comes with an intro APR of 0% on purchases for 12 months, after which a 18.99% - 26.99% (variable) APR applies. If you need to finance a big-ticket item for your business, this intro period could help you do that.

You don’t have to worry about a foreign transaction fee if business takes you abroad because there is none.

Compare the Capital One Spark Classic for Business to similar cards

Comparison of four different credit cards
Capital One Spark Classic for Business Capital One Spark Cash Select - 0% Intro APR for 12 Months Capital One Spark Cash Select - $500 Cash Bonus Wells Fargo Business Secured Credit Card
Capital One Spark Classic for Business Capital One Spark Cash Select - 0% Intro APR for 12 Months Capital One Spark Cash Select - $500 Cash Bonus Wells Fargo Business Secured Credit Card
Read Review
Apply Now
on Capital One's secure site
Apply Now
on Capital One's secure site
Review Coming Soon
Rewards Rate
1% Cash Back on every purchase 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel Earn 1.5% cash back on every $1 spent OR Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
Welcome Offer
N/A N/A $500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening N/A
Intro Purchase APR
N/A 0% on purchases for 12 months N/A N/A
Regular APR
26.99% (Variable) 18.99% - 26.99% (Variable) 16.24% - 22.24% (Variable) Prime + 11.90%
Annual Fee
$0 $0 $0 $0
Recommended Credit
Fair Good Excellent Fair/Poor
Card Details
Capital One Spark Classic for Business Capital One Spark Cash Select - 0% Intro APR for 12 Months Capital One Spark Cash Select - $500 Cash Bonus Additional card details unavailable

The information related to the Capital One Spark Classic for Business and the Wells Fargo Business Secured Credit Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.

Is the Capital One Spark Classic for Business right for you?

If you’re a business owner with good credit or better, the Capital One Spark Classic for Business probably isn’t the credit card you’re looking for. There are other business cards that offer sign-up bonuses, 0% introductory APR periods and more lucrative rewards programs.

However, if you’re a business owner with fair credit, your choice of cards is much slimmer, and the Capital One Spark Classic for Business may be easier to qualify for.

The card offers flat-rate cash back on every purchase, and what you earn won’t expire for the life of your account. There’s a $0 annual fee and a foreign transaction fee of none. However, you should avoid carrying a balance on the Capital One Spark Classic for Business due to its high 26.99% (variable) APR.

The information related to the Capital One Spark Classic for Business has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.