Capital One® Spark® Classic for Business
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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.
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.
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
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.
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 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.