Capital One® Spark® Classic for Business Review for 2022
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 who have 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 having to pay an annual fee.
If you wish to compare one card over another, choose 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:
Fair credit business owners (580 to 669)
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 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
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- 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.
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 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
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- 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.
How We Evaluate Fair Credit Business Credit Cards
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 | ||
|---|---|---|
Annual Fee | ||
Ongoing APR | ||
Ongoing Rewards | ||
Introductory Rewards | ||
Security Deposit | ||
Other Fees | ||
Introductory APR | ||
Additional Features | ||
| Total Score |
Who Capital One® Spark® Classic for Business Is Best For
- Business owners who have personal credit scores between 580 and 669: The Spark® Classic for Business is an excellent unsecured credit card that helps build both personal and business credit.
- Business owners who want a fixed-rate rewards card: You’ll earn unlimited 1% cash back on all spending without having to keep track of category restrictions.
- Business owners who don’t want additional fees: It doesn’t charge any annual, foreign transaction, and balance transfer fees.
If you prefer another option from Capital One, check out our review of the best Capital One business credit cards. But if your needs aren’t fulfilled by any of its cards, see our list of the best small business credit cards.
Capital One® Spark® Classic for Business Fees
APR
- Introductory APR: None
- APR for purchases, transfers, and cash advance: 26.99% variable—changes with the prime rate
- Penalty APR and when it applies: 29.65% variable—changes with the prime rate and will be applied to your account if you made a late payment; note that your due date is at least 25 days after the close of each billing cycle
Fees
- Annual fee: None
- Balance transfer fee: None
- Foreign transaction fee: None
- Cash advance fee: $10 or 3%, whichever is greater—APR is 26.99% variable
- Late payment fee: Up to $39
Capital One® Spark® Classic for Business Rewards
- Unlimited 1% cash back on every purchase for your business, with no minimum to redeem.
- Earn 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 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.
How To Make Payments on the Capital One® Spark® Classic for Business
- Capital One Mobile app: Log on to make payments
- Phone: Call the number on the back of your credit card
- Online: Log in to your Capital One account and select “Make a payment,” or set up AutoPay to make a minimum payment automatically, pay your last statement balance, or pay a fixed monthly payment of your choice.
- By United States mail: Send a check by US Mail using this address:
Capital One
Attn: Payment Processing
PO Box 71083
Charlotte, NC 28772-1083
- Overnight*: When sending overnight, use this address:
Capital One
Attn: Payment Processing
6125 Lakeview Rd
Suite 800
Charlotte, NC 28269
*The US Postal Service’s Priority Mail usually doesn’t get delivered straight to a payment processing center and may not get processed the next day. To ensure overnight delivery and processing, make sure to use an express mail service, such as FedEx, UPS, and DHL.
Capital One® Spark® Classic for Business Features
Spark® Classic for Business is one of the few business credit cards that offer features that not only help you manage your accounts but also make traveling better and safer. Below are its most notable 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
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.
Travel
- 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.
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.
Pros & Cons of the Capital One® Spark® Classic for Business
| PROS | CONS |
|---|---|
| Opportunity to build credit: This card can help you build your credit if you use it responsibly and you pay your balances on time. | No 0% introductory APR: You can’t take advantage of interest-free financing if you plan to use this card to make a large purchase. |
| Only requires fair credit: Business owners with fair credit can qualify for a card. | No sign-up bonus: Unlike most small business credit cards, this card doesn’t offer a sign-up bonus. |
| No annual fee: You can earn unlimited fixed-rate rewards without having to pay an annual fee. | High APR: It charges a high APR of 26.99% on purchases, balance transfers, and cash advances. Business owners would then need to plan big purchases around it. |
Capital One® Spark® Classic for Business Alternatives
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is a great option for those who need a longer interest-free financing and want to avoid annual fees. Aside from offering 0% Intro APR for both purchases and balance transfers for the first 15 billing cycles after account opening, it also charges a low minimum regular APR of 15.49% variable, which adjusts with the prime rate. These features are what made it our best business credit card with no annual fee.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
0% for first 15 billing cycles
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and electric vehicle charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned.
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 16.99% to 25.99%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
0% for first 15 billing cycles
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and electric vehicle charging stations, office supply stores, cellphone service providers, and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- No limit on total cash back earned.
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses, such as FreshBooks or QuickBooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 16.99% to 25.99%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Capital One® Spark® Cash Select Good Credit
Capital One® Spark® Cash Select Good Credit is a good alternative if you have a credit score that’s high enough to qualify for this card. It offers 1.5% fixed-rate cash back with no annual fee, and you should consider it if you need to finance a large purchase because it offers an introductory 0% APR for 12 months. It isn’t surprising that this made our list of the leading business credit cards with no annual fees.
Capital One® Spark® Cash Select Good Credit
BEST FOR:
Businesses with good credit that want a 0% introductory APR
Intro APR
0%
Regular APR
15.49% to 23.49%
Annual Fee
$0
Credit Needed
Good
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Enjoy a $0 annual fee in addition to the big rewards and cash bonus you can earn.
Pros
- No annual fee
- Ability to finance purchases with 0% APR for 12 months
- Free employee cards
Cons
- 0% APR doesn’t apply to balance transfers
- No sign-up bonus
- Cash back rewards aren’t competitive
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus a cash advance
- Roadside assistance: Services like jump-starting, tire changing, and towing
Intro APR
0%
Regular APR
15.49% to 23.49%
Annual Fee
$0
Credit Needed
Good
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Enjoy a $0 annual fee in addition to the big rewards and cash bonus you can earn.
Pros
- No annual fee
- Ability to finance purchases with 0% APR for 12 months
- Free employee cards
Cons
- 0% APR doesn’t apply to balance transfers
- No sign-up bonus
- Cash back rewards aren’t competitive
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus a cash advance
- Roadside assistance: Services like jump-starting, tire changing, and towing
Bank of America® Business Advantage Travel Rewards World Mastercard®
Bank of America® Business Advantage Travel Rewards World Mastercard® is great for business owners who travel frequently and don’t want to pay annual and foreign transaction fees. Not only does it have interest-free financing of 0% APR for the first 9 billing cycles after account opening—but it also has a low minimum regular APR of 12.49%. It isn’t surprising that this is our top pick for the best business credit cards with no foreign transaction fee.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
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:
Earning top rewards on travel purchases booked through Bank of America
Intro APR
0% for 9 billing cycles
Regular APR
14.49% to 24.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time―no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
0% for 9 billing cycles
Regular APR
14.49% to 24.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time―no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
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. If this isn’t what you need, visit our Credit Card Marketplace and see our roundup of the best small business credit cards to find options that may be a better fit.
