Capital One® Spark® Classic for Business
BEST FOR
Fair credit business owners (580 to 669)
- 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
- Earn fixed-rate rewards even with fair credit scores
- Rewards never expire
Cons
- High APR
- No sign-up bonus
- Reports to personal credit bureaus
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Capital One® Spark® Classic for Business is an excellent credit card for businesses that want to build and strengthen their credit while earning fixed-rate rewards on all business-related purchases. This small business credit card charges no annual fee and offers unlimited 1% cash back on all spending, with no limits or category restrictions.
Who Capital One® Spark® Classic for Business Is Best For
- Owners who have personal credit scores between 580 and 669: Capital One® Spark® Classic for Business is an excellent unsecured credit card that helps build both personal and business credit.
- Owners who want a fixed-rate rewards card: You will earn unlimited 1% cash back on all spending without having to pay an annual fee. This is an excellent option for business owners who have a variety of spending needs and don’t want to keep track of category restrictions.
How We Evaluate Fair Credit Business Credit Cards
When grading business credit cards for fair credit like Capital One® Spark® Classic for Business, we weigh the annual fee and ongoing annual percentage rates (APRs) the heaviest. We also consider the card’s rewards, security deposit, introductory APR, and any other fees.
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Capital One® Spark® Classic for Business Fees
- Introductory APR: None
- Ongoing APR: 26.99% variable, which changes with the prime rate
- Annual fee: None
- Balance transfer fee: None
- Foreign transaction fee: None
- Cash advance fee: $10 or 3%, whichever is greater; cash advance APR is 26.99% variable
Capital One® Spark® Classic for Business Rewards
- Unlimited 1% cash back on every purchase for your business, with no minimum to redeem.
Welcome offer: None
Cash back is available upon request as a credit to your bill or through a check sent by mail. You can also redeem your rewards as gift cards at restaurants, retailers, hotels, or use them to pay for a recent purchase made on your Capital One business credit card.
Capital One® Spark® Classic for Business Features
Price Protection Plan
Capital One’s price protection plan is only available through Visa® Signature Business Benefits. You can receive a price difference refund if you see a purchased item at a lower price in another store’s printed advertisement within 60 days of purchase. The refund amount is limited to $500 per item and $2,500 per eligible account.
Purchase Security
Covers purchased items that were either stolen or damaged for the first 90 days after your purchase. Purchase security will replace, repair, or reimburse you up to the original purchasing price. Coverage is limited to $10,000 per claim and $50,000 per cardholder. Some purchases are not included with this coverage like animals, living plants, computer software, collectible items, jewelry, medical equipment, perishables, preowned items, and more.
Extended Warranty Protection
Capital One offers extended warranty protection on original manufacturers’ warranties of three years or less. It will double the length of the warranty up to one additional year. Coverage is limited to $10,000 per claim and $50,000 per cardholder. Items not covered with this protection include computer software, medical equipment, real estate, preowned items, motorized vehicles, leased items, and resale items.
Travel Accident Insurance
Capital One provides travel accident insurance, which is available through Visa® Signature Business Benefits. The coverage is limited to $250,000, and it covers you, your spouse, and unmarried dependent children. Coverage does not include loss resulting from emotional trauma, mental or physical illness, suicide, intentionally self-inflicted injuries, war, and travel between the insured person’s residence and regular place of employment.
Lost Luggage Reimbursement
The lost luggage reimbursement is part of Visa® Signature Business Benefits, which protects your checked luggage or carry-on baggage against theft or misdirection by the common carrier. Capital One® Spark® Classic for Business lost luggage reimbursement covers the value of your checked or carry-on baggage up to $3,000 per trip. New York residents will only have coverage up to $2,000.
Auto Rental Collision Damage Waiver
Capital One provides an auto rental collision damage waiver in case of damage due to collision or theft, and it covers rentals of 31 days or less. The coverage is primary if the car rental is for business purposes, which means you won’t need to use your personal insurance or accept the rental company’s insurance. Capital One may reimburse you up to the cash value of the car.
Travel and Emergency Assistance Services
Capital One provides travel, emergency, medical, and legal assistance 24 hours a day to the cardholder, their immediate family members, and any business associates. The number is toll-free, but you’ll be responsible for the cost of any actual medical, legal, transportation, cash advance, or other services provided.
Capital One® Spark® Classic for Business Alternatives
Wells Fargo Business Secured Credit Card
Wells Fargo Business Secured Credit Card
BEST FOR
Business owners with poor credit
- Cash Back option: Earn 1.5% cash back on every $1 spent
- Reward Points option: Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Approval with credit scores below 580
- Your choice of fixed-rate cash back or points rewards
Cons
- Requires a security deposit of at least $500
- Has an annual fee
- Purchase Assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design Studio: Include a personal image or business design on your credit card.
Bento For Business Prepaid Card
Bento For Business Visa® Debit Card
BEST FOR
Managing employee expenses without a credit check to qualify
- Instant Decision
- No Credit Check Required
- One-click card controls & expense reports
Pros
- Get the first two cards for free
- Easily manage employee expenses
- Additional card features and purchase protections
Cons
- Large fees for more than two cards
- Deposited funds are required
- Won’t help build business or personal credit
- Auto rental collision damage waiver: Use this card to pay for your entire auto rental transaction and get collision coverage for a damaged or stolen rental vehicle, up to the value of the vehicle.
- Purchase protection: Purchases are covered up to 90 days for damage and theft, up to $10,000 per claim, $50,000 per year.
BBVA Compass Visa® Business Rewards Credit Card
BBVA Compass Visa® Business Rewards Credit Card
BEST FOR
Business owners who live in the Sun Belt region
- No annual fee
- Earn 1 point for every $1 in purchases
- Earn 1 additional point for every $1 you spend on qualifying gas, office supply, telephone, and insurance purchases with Bonus CompassPoints
- Build Your Own Rewards® with CompassPoints® Online account services
- Employee cards at no additional cost
Pros
- Offers cheap introductory financing
- Pays excellent rewards you typically don’t see on cards for fair credit
Cons
- Eligibility is limited
- Reward redemption options are limited
- Free employee cards: Add employee cards to your account at no additional cost. You can set individual spending limits for each employee.
- Visa® SavingsEdge: Enroll with Visa SavingsEdge and save up to 15% at participating merchants.
- Car rental insurance: If you rent a car with your card, you’ll be covered with collision, damage, and loss insurance.
Bottom Line
Capital One® Spark® Classic for Business is best for business owners who prefer a no annual fee credit card that will help them build both personal and business credit. This business credit card also offers fixed-rate cash back rewards for all business-related purchases. If this business credit card is not what you need, compare the top credit cards to help you find other cards that may be a better fit.
