Capital One Spark Classic for Business Review

The Capital One Spark Classic for Business can be worth it for business owners who need to build credit, since you may qualify with fair credit. The Capital One Spark Classic for Business also has a $0 annual fee so the card won’t cost you anything.

It doesn’t have a very impressive rewards rate, but if you’re applying for this card, you should focus on building credit to qualify for more premium credit cards rather than earning rewards. If you have a good credit score and can qualify for other more lucrative credit cards, the Capital One Spark Classic for Business is probably not worth it for you.

• Available to business owners with lower 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 (generally considered to be a FICO® Score of 580 to 669 or a VantageScore® score of 601 to 660), making it more available to those who may not qualify for other business cards. The benefits are scarce on this card, but it can be used as a stepping stone toward more valuable cards for business owners working on rebuilding their credit.

• Flat-rate cash back program

  The Capital One Spark Classic for Business lets you earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions. Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. 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.

  While there are other cards that offer higher rewards rates, they generally have higher credit score requirements. Cards geared toward business owners with low credit scores often don’t offer any rewards.

• No annual or foreign transaction fee

  With a $0 annual fee, you don’t have to pay just to carry this card. This is a major plus, since cards that target low-credit individuals often charge high annual fees. Also, The Capital One Spark Classic for Business is a good card to bring on business trips outside the United States, because it has a $0 foreign transaction fee.

• Low cash back rate

  For a card aimed at applicants with fair credit, the Capital One Spark Classic for Business offers a decent rewards rate. But if your credit is good or better, you can likely get a business credit card with better rewards, like The American Express Blue Business Cash™ Card.

• Expensive to carry a balance

  It’s always best to pay 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 29.99% (variable) APR — meaning any interest charges incurred are likely to be expensive.

• No sign-up bonus

  If your credit is fair, it’s not a big deal that the Capital One Spark Classic for Business doesn’t offer a sign-up bonus — most cards geared toward this credit band don’t. However, if you have good to exceptional credit, it’s easy to find business credit cards with excellent sign-up bonuses. The Ink Business Preferred^® Credit Card, Capital One Spark Cash Plus or the The American Express Blue Business Cash™ Card all have valuable welcome offers.

Capital One Spark Classic for Business vs. Business Advantage Unlimited Cash Rewards Secured credit card

 
If your credit score is too low to qualify for the Capital One Spark Classic for Business, or if you want a more rewarding card, consider the Business Advantage Unlimited Cash Rewards Secured credit card. It’s a secured card, which means you’ll have to put down a minimum security deposit of $1,000, which will become your initial credit limit. But, like the Capital One Spark Classic for Business, it has a $0 annual fee, making it an affordable option for building business credit. Plus, with responsible usage over time, you may be eligible to transition to an unsecured credit card.

You’ll earn a higher rewards rate of unlimited 1.5% cash back on all purchases. It also has a slightly lower 18.49% - 28.49% Variable APR.

Capital One Spark Classic for Business vs. The American Express Blue Business Cash™ Card

 
If you have good enough credit to apply for the The American Express Blue Business Cash™ Card, it’s likely to be a more rewarding option. This is because it has a generous welcome offer, comes with a higher rewards rate and also has better benefits, like a long introductory purchase APR.

You’ll earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. Plus, it offers an attractive rewards rate: Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.

Capital One Spark Classic for Business vs. Ink Business Unlimited^® Credit Card

 
The Ink Business Unlimited^® Credit Card is a fantastic $0 annual fee business card from Chase. It offers a flat earning structure like the Capital One Spark Classic for Business, but a much higher earning rate. You’ll earn unlimited 1.5% cash back on every purchase made for your business. You can also earn a valuable sign-up bonus: Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.

Plus, it has an introductory APR offer on purchases that can help you finance a big business purchase.

The Ink Business Unlimited^® Credit Card does require a high credit score to be approved, but if you can qualify for it and meet the spending target for the welcome bonus, it’s likely the better option for your business.

If you’re a business owner with fair credit, the Capital One Spark Classic for Business is an affordable business credit card with decent benefits that may be easier to qualify for. You’ll get a flat-rate cash back on every purchase. There’s a $0 annual fee and a $0 foreign transaction fee.

But, if you have good credit or higher, 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, like the Ink Business Unlimited^® Credit Card.