Capital One® Spark® Classic for Business
Best For: Fair credit business owners (580 to 669)
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 26.99% (Variable) | $0 | Average, Fair, Limited |
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.
| Grading Criteria | ||
|---|---|---|
Annual Fee | ||
Ongoing APR | ||
Ongoing Rewards | ||
Introductory Rewards | ||
Security Deposit | ||
Other Fees | ||
Introductory APR | ||
Additional Features | ||
| Total Score |
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
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | Prime + 11.90% on purchases | $25 per card | N/A |
Bento For Business Prepaid Card
Bento For Business Visa® Debit Card
Best For: Managing employee expenses without a credit check to qualify
| Number Of Cards | Monthly Cost | Daily Load Limit | Daily Spend Limit |
|---|---|---|---|
| Unlimited | $0 for the first 2 cards. $29-149 monthly for more | None | $25,000 |
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
| Intro APR ?0% APR for 9 months on purchases | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| 0% on purchases | 9.24% to 23.24% Variable | $0 | Average - Excellent |
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.
