Capital One Spark 1% Classic is an excellent business credit card for business owners with a fair credit score (ranging from 580 to 669). This unsecured small business credit card can help you build and strengthen your credit when used responsibly. Additionally, it allows you to earn fixed-rate rewards on all business-related purchases while paying $0 annual fees.
Capital One Spark 1% Classic
BEST FOR:
Those with fair credit
- 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 welcome offer
- 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.
- 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 welcome offer
- 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, introductory APR, and any other fees.
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Who the Capital One Spark 1% Classic Is Best For
- Those with credit scores between 580 and 669: You only need a fair credit score to qualify, and it can help build both personal and business credit with responsible use.
- Those who want unlimited rewards: You’ll earn unlimited cash back with no expiry if your account is open and in good standing.
- Those who don’t want additional fees: It doesn’t charge annual, foreign transaction, or balance transfer fees.
Capital One Spark 1% Classic Rewards
- 1% cash back on every purchase for your business, with no minimum to redeem
- 5% cash back on hotels and car rentals booked through Capital One Travel
Rewards Calculator
Find out how much you can earn from the Capital One Spark 1% Classic based on your estimated monthly expenses. Our rewards calculator will compute your potential rewards—just enter your expected monthly spending, and our calculator will do the rest.
Cashback is available upon request as a statement credit or through a check sent by mail. You can also set up an automatic redemption preference, 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.
Capital One Spark 1% Classic Features
- $0 fraud liability: Get an emergency replacement and cash advance if your card is lost or stolen. Plus, you’ll not be held liable for any unauthorized transactions made with your card.
- 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.
- Roadside assistance: Access services to help you during auto-related emergencies, including jump-starting, tire changing, and towing.
- Transaction 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 business card monthly, such as for subscriptions and bills.
- Free employee cards: Create multiple employee cards, track employee spending, and customize spending limits while earning rewards from their purchases.
- Automatic payments: Set up AutoPay in the Capital One mobile app so that you won’t have to worry about missed or late payments.
- Flexible payments: Choose your monthly due date so you can control when to pay your balance based on your company’s cash flow trends.
- Year-end summaries: Access an itemized report of your spending to simplify both budgeting and tax time.
- Purchase records: Download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Capital One Travel: Access the best prices on thousands of trip options, even after booking, with the flexibility to pay with your rewards, card, or both.
Capital One Spark 1% Classic Fees
APR
- Introductory: None
- Ongoing for purchases and balance transfers: 29.99% variable—changes with the prime rate
- Cash advance: 30.74% variable—changes with the prime rate
- Penalty: 34.65% variable—changes with the prime rate and will be applied to your account if you make a late payment
Fees
- Annual: $0
- Balance transfer: $0
- Cash advance: Either $5 or 5% of the amount of each cash advance, whichever is greater
- Foreign transaction: $0
- Late payment: Up to $39
Your due date is at least 25 days after the close of each billing cycle.
- Capital One Mobile: Use the app to ensure you pay your balances in full each month.
- Phone: Call (800) 227-4825 or the number on the back of your credit card.
- Online: Log into your Capital One account and select “Make a payment.”
- In-person: Visit the nearest Capital One branch.
- Mail: Send a check by United States 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., Ste. 800
Charlotte, NC 28269
Capital One Spark 1% Classic Alternatives
Emburse Spend Card
 Emburse Spend CardBEST FOR: Earning Unlimited Cash Back Rewards | |
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The Emburse Spend Card is a business prepaid card, which means a personal credit check is not part of the approval process. This is great if you have enough cash to use as working capital for your businesses as you need to load funds on the card before using it. It lets you earn unlimited 1% cash back on all purchases, regardless of spending categories. Plus, it charges $0 annual or monthly fees.
Ramp Card
Ramp Credit Card
BEST FOR:
Those who are using Ramp as their main financial management tool
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Integrates with accounting software, such as QuickBooks and Xero
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Integrates with accounting software, such as QuickBooks and Xero
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
This corporate charge card provides up to 20x more credit limits than ordinary business credit cards, ideal for companies with significant credit needs. It offers up to 1.5% cash back on purchases and over $350,000 in partner rewards. Also, it charges $0 annual and foreign transaction fees. However, you have to pay your balance in full each month and should have at least $25,000 in cash in any US business bank account linked to your application to qualify.
Frequently Asked Questions (FAQs)
Yes, the card reports your card activities to both personal and business credit bureaus.
You can apply for the Capital One Spark 1% Classic for Business in three ways:
- Online: This is considered the fastest and most straightforward way to apply. Note that decisions are instantly made when applying online. Note that you will need to fill in a form with relevant information.
- Phone: You can call (800) 227-4825 and follow the prompts that will lead you to a representative
- In-person: Go to the nearest Capital One branch to apply for the Capital One Spark 1% Classic for Business.
Bottom Line
Capital One Spark 1% Classic is best for business owners who need a card that will help them build both personal and business credit without making a security deposit. It lets you earn unlimited cash back that won’t expire for the life of the account. However, it comes with a high APR, so it’s best to pay off your balance each month to avoid costly interest charges.
