Capital One® Spark® Classic for Business Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Capital One® Spark® Classic for Business is best for business owners with fair credit. When used responsibly, this unsecured small business credit card can help you build and strengthen your credit. Additionally, it allows you to earn fixed-rate rewards on all business-related purchases without paying an annual fee.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Capital One® Spark® Classic for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those with fair credit
Intro APR
N/A
Regular APR
29.99% (Variable)
Annual Fee
$0
Credit Needed
Fair
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No sign-up bonus
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: if your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
Intro APR
N/A
Regular APR
29.99% (Variable)
Annual Fee
$0
Credit Needed
Fair
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No sign-up bonus
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: if your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
When grading business credit cards like the Capital One® Spark® Classic for Business, we first consider the annual fee and ongoing annual percentage rates (APRs). We also take into account the card’s ongoing rewards, security deposit requirements, introductory APR, and any other fees.
| Grading Criteria | ||
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Annual Fee | ||
Ongoing APR | ||
Ongoing Rewards | ||
Introductory Rewards | ||
Other Fees | ||
Introductory APR | ||
Additional Features | ||
| Total Score |
Who the Capital One® Spark® Classic for Business Is Best For
- Those with credit scores between 580 and 669: It’s an excellent unsecured credit card that helps build both personal and business credit.
- Those wanting a fixed-rate rewards card: You’ll earn unlimited 1% cash back on all spending without keeping track of category restrictions.
- Those who don’t want additional fees: It doesn’t charge any annual, foreign transaction, and balance transfer fees.
Check out our recommended alternatives below if this card doesn’t fit the bill.
Capital One® Spark® Classic for Business Fees
APR
- Introductory: None
- Ongoing, balance transfers, and cash advance: 29.74% variable—changes with the prime rate
- Penalty: 33.65% variable—changes with the prime rate and will be applied to your account if you make a late payment.
Fees
- Annual and balance transfer: None
- Cash advance: $10 or 3% of the amount of each cash advance, whichever is greater
- Late payment: Up to $39
Your due date is at least 25 days after the close of each billing cycle.
Capital One® Spark® Classic for Business Rewards
- Unlimited 1% cash back on every purchase for your business, with no minimum to redeem
- Unlimited 5% cash back on hotels and car rentals booked through Capital One Travel
Cash back is available upon request as a statement credit or through a check sent by mail. You can also set up an automatic redemption preference, with options including setting a time each calendar year or when a specific threshold has been met. Note that rewards don’t expire so long as your account is active.
How To Make Payments on the Capital One® Spark® Classic for Business
- Online: Ensure that you’re enrolled in Capital One’s online banking site. Once logged in, select “Make a Payment,” and enter the amount along with the date you want the payment posted.
- Capital One mobile app: Pay via the iOS and Android banking app.
- Phone: Call (800) 227-4825 or the number found on the back of your card. Then, enter your card details when prompted, and follow the prompts to pay off your card.
- Nearest Capital One branch: You can pay your secured business credit card at the nearest Capital One branch during business hours.
- Mail: Send a check or money order (not cash) to this address:
Capital One
Attn: Payment Processing
PO Box 71083
Charlotte, NC 28272-1083
- Overnight address: You can send your payment to:
Capital One
Attn: Payment Processing
6125 Lakeview Rd., Ste. 800
Charlotte, NC 28269
Capital One® Spark® Classic for Business Features
Featured Benefits
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: In the event that your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Year-end summaries: You can get an itemized report of your spending to simplify both budgeting and tax time.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken, QuickBooks, and Excel.
- Capital One Travel: Capital One offers the best prices on thousands of trip options, even after booking, with the flexibility to pay with your rewards, card, or both.
Managing Accounts
- Flexible payments: You can choose your own monthly due date, having the control to pay when you want
- Transition details: Stay on top of your purchases by finding merchant information, such as an address, logo, phone number, and map when made available
- Recurring transactions: Check out Capital One’s list of merchants that charge your Spark® Classic for Business monthly.
- Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning rewards from their purchases.
Service & Protection
- Roadside assistance: Capital One offers services that can help you in roadside emergencies, such as jump-starting, tire changing, and towing.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
- Fraud and security alerts: Receive email or text message alerts if Capital One detects a potential mistake or suspicious charge on your account.
Capital One® Spark® Classic for Business Alternatives
Bento for Business Visa® Debit Card
- Bento for Business Visa® Debit Card is an excellent option for those wanting to control their business spending
- Lets you issue different types of cards, depending on how each card will be used for your business
- Is free for the first 60 days after your application is approved; after, a monthly subscription fee will be charged depending on the number of cards you need
- Doesn’t charge setup, card load, interest charge, card issuance, domestic or international transaction, decline or overdraft, and cancelation fees
- Is our top-recommended business prepaid card and one of our best business cards without personal guarantee and business cards for fair credit
Emburse Spend Card
- Emburse Spend Card is a viable option for those wanting a business prepaid card that offers rewards
- Offers unlimited 1% cash back on all purchases
- Doesn’t charge fees for adding virtual and physical cards and domestic transactions
- Lets you deposit up to a maximum of $100,000
- Is one of our top business prepaid cards
For more options, see our guides on the best Capital One business credit cards and leading small business credit cards.
Bottom Line
Capital One® Spark® Classic for Business is best for business owners who need a card that will help them build both personal and business credit without having to make a security deposit. It lets you earn unlimited 1% cash back on all business-related purchases and unlimited 5% cash back on hotels and car rentals booked via Capital One Travel. Other business credit cards will offer a lower ongoing APR and not charge additional fees.
