What is Capital One (Credit Card) Spark Business?
Capital One's Spark Business credit card is designed specifically for small business owners who need flexibility and control over their finances. With this credit card, business owners can earn rewards on all purchases, manage employee spending, and track expenses.
One of the key features of the Spark Business card is the ability to earn rewards in various categories, such as 2% cash back on all purchases and an additional 5% cash back on select business purchases, such as office supplies and communication services. This makes it an excellent option for businesses with high expenses in these categories.
In addition to earning rewards, business owners also benefit from expense tracking and management tools. They can set up alerts for employee spending, limit employee cards to specific categories or spending limits, and easily track expenses through the online dashboard or mobile app.
Another benefit of the Spark Business credit card is the ability to easily integrate with accounting software, such as QuickBooks and Xero. This allows business owners to streamline their accounting and expense tracking processes, reducing the time and effort required to reconcile expenses and track overall financial health.
Overall, the Capital One Spark Business credit card offers many benefits for small business owners, including rewards, expense tracking, and management tools. It provides the flexibility and control that any business owner needs to keep their finances in check and maximize rewards on their spending.
Frequently Asked Questions about capital one (credit card) spark business
The Capital One Spark Cash Plus is an easy-to-use business credit card that offers straightforward rewards - in this case, an unlimited 2 percent cash back on all purchases. It's also a charge card, which means cardholders have to pay their balance in full each month, and there's no APR or preset spending limit.
The limit on a Capital One Spark Classic business card is $500, but you may receive a higher limit depending on how high your credit score and income level are. on Capital One's Secured Site. Credit score is one of the many factors lenders review in considering your application.
Capital One Spark Cash Select for Good Credit
And you can earn unlimited 1.5% cash back on all purchases. If you qualify for the card through Credit Karma, you can get an introductory 0% purchase APR for the first 12 Months of having the card. After that, the purchase APR jumps to a variable 20.74% - 28.74%* Variable.
The Capital One® Spark® Classic for Business doesn't offer much in the way of rewards, but it's one of the few business credit cards targeted toward people with fair credit.
Most of the best small business credit cards require good or excellent credit, but if you have a limited credit history or have defaulted on a loan in the past few years, you may be able to get approved for the Capital One Spark 1% Classic *
$15
Minimum Payment
Your payment will be the greater of $15 or 1% of your balance plus new interest, late payment fees, and any past due amount.
The strongest candidates may still qualify with a credit score as low as 700. It's recommended you apply for the Capital One Spark Classic for Business if your credit score is between 670 and 739. Once again, some applicants qualify with a score as low as 620.
Summary of the Capital One Spark Business Cards Approval Odds. You have the highest approval odds with a credit score above 740 for the Spark Cash, Spark Miles, and the “Select” editions of either card. A 670 credit score means you're likely to get an instant approval decision for the Capital One Spark Classic.
Does Capital One Spark Business report to the personal credit bureaus? Yes, Capital One states they may report your card activity to the personal and business credit bureaus. Your business credit card activity will appear as a small business credit card.
Business owners with imperfect credit may not be approved for other business credit cards from Capital One, yet the Spark 1% Classic* is geared toward people with fair credit. This typically includes any FICO score between 580 and 669.
Spark 1% Classic
Earn unlimited cash rewards while building your credit. Great for businesses that want to build credit.
Most of the best small business credit cards require good or excellent credit, but if you have a limited credit history or have defaulted on a loan in the past few years, you may be able to get approved for the Capital One Spark 1% Classic *
Capital One appears to pull from any of three major credit bureaus: Experian, Equifax and TransUnion.
Most people have more than one credit score, which vary based on how they're calculated, when they're calculated and what information is used to calculate them. FICO and VantageScore are two popular credit-scoring companies. Scores from FICO and VantageScore typically range from 300 to 850.
Recommended credit score
To be approved for the Capital One Spark Cash Plus, you'll need a FICO credit score in the good to excellent range - which is a score from 670 to 850.
For small-business owners with fair credit (FICO scores from 630 to 689), the Capital One® Spark® Classic for Business is a good choice - and one of just a few options available. It offers a basic 1% cash back on every purchase, an annual fee of $0 and no foreign transaction fees.
