Best Capital One business credit cards for 2023
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Capital One is well known for its rewards credit cards for consumers. It also offers a slew of great business credit cards — and that’s true whether you want to earn flexible cash back or rewards you can redeem to cover travel expenses.
If you’re in the market for a business credit card, Capital One’s slate is worth considering. Not only do business cards from Capital One offer valuable rewards and cardholder benefits, but each one offers free employee cards for workers and no foreign transaction fees.
What is the best Capital One business credit card? It depends on the business spending you plan to do over the next year — and the business rewards you’d like to earn. Our ranking highlights the top Capital One credit cards you should consider based on factors like rewards rates, sign-up bonuses and annual fees.
Capital One Spark Cash Plus Card: Best for earning cash back
The Capital One Spark Cash Plus Card rewards business owners with a generous welcome bonus and an easy-to-understand earning rate. New cardholders can earn a cash bonus of up to $1,000: $500 cash back when they spend $5,000 within three months of account opening and another $500 upon spending $50,000 in the first six months. That’s on top of the unlimited 2 percent cash back offered for each dollar spent and unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel.
This business credit card is a pay-in-full card, also known as a charge card. There’s no preset credit limit, but you’ll need to pay your balance in full every month or incur a 2.99 percent late fee on your outstanding statement balance. The Capital One Spark Cash Plus Card also charges a $150 annual fee, so keep that in mind as you decide which Capital One business credit card is best for you.
Capital One Spark Miles for Business: Best for travel
The Capital One Spark Miles for Business offers miles instead of cash back, making it a good option for business owners who travel frequently. New cardmembers get the chance to earn 50,000 miles when they spend $4,500 within three months of account opening (equal to $500 in travel), as well as an unlimited 2X miles on all purchases and 5X miles on hotels and rental cars purchased through Capital One Travel.
Rewards can be redeemed to cover any travel purchase charged to the card, or they can be transferred to Capital One airline and hotel partners. Cardholders also receive up to a $100 credit toward Global Entry or TSA PreCheck. A $95 annual fee applies, but it’s waived the first year.
Capital One Spark Cash Select – $500 Cash Bonus: Best cash back option
The Capital One Spark Cash Select – $500 Cash Bonus starts new cardholders out with a $500 bonus when they spend $4,500 within three months of account opening. Purchases charged to the card also earn a flat 1.5 percent cash back, which can be redeemed for cash back in any amount, as well as an unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel. This card doesn’t charge an annual fee, but it does require an excellent credit score.
You may also want to consider the Capital One Spark Cash Select — 0% Intro APR for 12 Months. This card offers the same cash back rewards structure but comes with 12 months of a 0% intro APR on purchases (20.24 percent to 28.24 percent variable APR after) instead of the opportunity to earn a $500 cash bonus. There’s no annual fee, and you only need good credit to apply.
Spark 1.5X Miles Select: Best miles option with 0% APR
The Spark 1.5X Miles Select* is another Capital One business card with no annual fee. You can earn an unlimited 1.5X miles on all business spending, plus 5X on hotels and rental cars booked through Capital One Travel. Cardholders can also earn a 20,000-mile bonus when they spend $3,000 within three months of account opening.
If you’ve got some large upcoming business expenses and want some additional time to pay them off, new cardholders also get an introductory 0 percent APR on purchases for 9 months (18.24 percent to 28.24 percent variable APR after).
Spark 1% Classic: Best for imperfect credit
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.
Not only is the Spark 1% Classic easier to qualify for, but cardholders get the chance to earn an unlimited 1 percent cash back on all purchases with no annual fee and an unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel.
Benefits of Capital One business credit cards
The best Capital One business credit cards offer many benefits, including the ability to fund large purchases and earn rewards on everyday business expenses. Capital One also offers free employee cards and the opportunity to set customized limits on employee spending.
Here are a few additional Capital One business credit card benefits to be aware of:
Bonus travel rewards
All Capital One business credit cards offer either 5 percent cash back or 5X miles on hotels and rental cars purchased through Capital One Travel. This gives you the opportunity to earn extra rewards on business trips even if you only travel once or twice a year.
Streamlined bill payments
Business owners can pay vendors directly from their Capital One business account and have the option to defer the payments until the next billing cycle and extend their float for up to 45 days. Capital One charges a 2.9 percent fee for every payment made from a credit or debit card, but you can make ACH transactions from a linked checking account for free.
Your Capital One business account is designed to integrate seamlessly with QuickBooks, as well as other business management software programs such as Concur Expense, Expensify, Xero and Abacus.
How to choose the right Capital One business card for you
What is the best Capital One Business credit card for you? It may depend on your credit score, as well as the types of rewards you hope to earn. If you’re considering a Capital One business credit card, here’s what you should keep in mind:
- Know your credit score: Most of the best Capital One business credit cards require excellent credit to be approved, which usually means any FICO score of 740 or above. The Capital One Spark Cash Select — 0% Intro APR for 12 Months, for example, is available to people with good credit, and the Spark 1% Classic accepts cardholders with fair credit.
- Decide if you’re willing to pay an annual fee: A card with an annual fee can be well worth it as long as your rewards and perks offset the cost. Keep in mind that you can avoid paying an annual fee if you’re willing to accept a lower rewards rate.
- Choose between miles and cash back: Capital One travel rewards credit cards offer the opportunity to transfer your miles to Capital One transfer partners, which can be helpful if you’re saving up miles for a future travel redemption. On the other hand, cash back Capital One cards are convenient as you can redeem your rewards for cash back in any amount.
- Evaluate the importance of additional features: Do you want a 0 percent intro APR to pay off large purchases over time? Do you or your employees frequently travel for work? Consider the unique needs of your business to determine which perks to pursue.
Capital One business cards FAQs
The following questions and answers provide even more details on Capital One business credit cards and how they work.
All Capital One business credit cards offer free employee cards, which can be convenient if you want your employees to have their own cards to use for business-related purchases. Be aware that Capital One has no cards that charge foreign transaction fees. Capital One business cards also offer year-end summaries of the purchases you’ve made, as well as the ability to set up automatic payments. You can also set customized spending limits on employee cards.
Most Capital One credit cards require excellent credit, which usually means any FICO score of 740 or higher. However, the Spark Cash Select — 0% Intro APR for 12 Months requires good credit, and the Spark 1% Classic requires fair credit.
Two Capital One business credit cards — the Capital One Spark Cash Plus ($150) and Capital One Spark Miles for Business ($95) — charge an annual fee. The rest do not, but you’ll earn lower rewards rates on purchases.
The bottom line
Capital One offers some excellent business credit cards with significant perks, but there are plenty of other card issuers to consider. Take a close look at the options above, but don’t forget to compare these picks to top business credit cards from issuers like Chase and American Express. With some basic research, you should be able to identify a shortlist of business cards to set your finances up for success.
*The information about the Spark 1.5X Miles Select and Spark 1% Classic has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.