Capital One® Spark® Classic for Business
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 24.49% APR.
- There are no foreign transaction fees for purchases made outside the U.S.
- There’s a penalty variable APR of 30.90% 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.