Capital One® Spark® Classic for Business

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Good enough card for a small business owner with fair credit but aim to move up to something better.

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There aren’t a ton of business rewards card options for those with average credit. The Capital One Spark Classic for Business is one of them.

We give this card low marks because it doesn’t offer many of the bells and whistles most business owners have come to expect from a credit card. Spark Classic can’t measure up to cards that offer premium rewards or stellar sign-up bonuses.

That being said, it’s a perfectly fine card for any business owner that can’t qualify for a better one.

Review

You own a business or are launching one. You want a credit card, but your credit isn’t pristine. The Capital One Spark Classic for Business might be the solution.

It pays an unlimited 1% cash back, which, although isn’t great for a cash-back card, sure beats nothing. And, although the APR is on the high side, as long as you pay the bill in full every month (and you always should) eventually you can build up your credit and hopefully move on to a credit card with more favorable terms.

The card does include some features we like. It charges no annual fee and allows for free employee cards. It’s also a Visa Business card, which includes some travel and auto protections.

Who should get this card

Small business owners who don’t qualify for a card with better rewards may be better off with this card than one without any rewards.

Advantages
  • Earn an unlimited 1% back on all purchases.
  • You may qualify for this card even if your credit score is just so-so.
  • Rewards never expire as long as the account is open and in good standing.
  • There are no rotating or special bonus categories to keep track of.
Disadvantages
  • The penalty APR for late payments is high, plus there’s a penalty fee, so if you anticipate having at least one late payment, you may want to consider a card with a more forgiving policy.
  • Many other business cards come with a sign-up bonus, but this one does not.
  • The transfer APR is the same as the purchase APR, so this card may not be a good choice for those looking to save interest on a balance transfer.
  • Small business owners who want to earn transferable points instead of cash back may be better off with a different kind of rewards card.
  • There are other small business cards that offer higher rewards rates -- up to 5 times back -- in specific categories.

Fees and APR

  • There’s no annual fee.
  • The card has a variable 24.74% variable APR.
  • There are no foreign transaction fees for purchases made outside the U.S.
  • There’s a penalty APR of 31.15% that may apply if you miss a payment or make a late payment, plus a late fee of up to $39.

Extras, perks and using rewards

The Capital One Spark Classic for Business comes with Visa Business Benefits, including auto damage and collision protection, emergency and travel assistance services and purchase protection.

The free extra cards for employees are also a nice perk, especially since the main cardholder accrues all the cash-back earnings.

You can redeem your rewards as a statement credit in any amount, at any time, by logging into your account online.

How this card compares

Capital One® Spark® Cash Select for Business
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed

Excellent, Good

Regular APR

14.74% - 22.74% (Variable)

Annual Fee

$0

Purchase Intro APR

0% on purchases for 9 months

Balance Transfers Intro APR

N/A

The Capital One Spark Cash Select for Business ranks among the best on the market, particularly because of its unfussy rewards program that doesn’t pay different rates for different categories of spending. To us, that kind of program is the most flexible.

Ink Business Cash℠ Credit Card
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our business category page.

Credit Needed

Excellent

Regular APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 15.24% to 21.24%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 25.24% to 21.24%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Business Cash Credit Card may be the flexible rewards card you need. It’s among our favorite business credit cards. The no-fee card will reward you for spending in the areas you’ll most likely need to get your business off the ground and gives you a full year break on interest for purchases and balance transfers. 

SimplyCash® Plus Business Credit Card from American Express
  • Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 14.24% - 21.24%
  • No annual fee
  • Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
  • Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
  • With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors
  • Terms apply
Credit Needed

Excellent Credit

Regular APR

14.24% - 21.24% Variable

Annual Fee

$0

Purchase Intro APR

0% on purchases for 15 months

Balance Transfers Intro APR

N/A

SimplyCash Plus Business Credit Card from American Express is among the very best business rewards credit cards on the market. In just about every respect — from rewards to the annual fee — this card stands tall among the elite business cards on the market.

The only reasons to shy away from this card would be if your work requires significant overseas travel or if your biggest expenses don’t match up with the bigger cash-back savings categories.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.