What is the average credit score needed to get approved for Capital One® Spark® Classic for Business?

The credit score needed to get approved for Capital One® Spark® Classic for Business is at least fair, which typically means a score of at least 580 or higher.

Does Capital One® Spark® Classic for Business report to all three credit bureaus?

Yes, Capital One® Spark® Classic for Business reports to all three credit bureaus.

Is the Capital One® Spark® Classic for Business application process lengthy? Can you prequalify?

The Capital One® Spark® Classic for Business application process takes only 10 minutes and you may get a decision in minutes although in some cases the approval process may take longer. You cannot prequalify for the Capital One® Spark® Classic for Business.

What information is needed to apply for Capital One® Spark® Classic for Business?

To apply for Capital One® Spark® Classic for Business, you need to provide your business details including legal names, addresses, SSNs for all business owners and the business tax ID number.

Does Capital One® Spark® Classic for Business have good customer service or satisfaction?

Yes, Capital One® Spark® Classic for Business has good customer support and was ranked second in a 2021 J.D. Power small business card credit card satisfaction survey. Cardholders get 24-hour access to customer support and convenient online options to manage their account.

Does Capital One® Spark® Classic for Business have a mobile app or the option to pay or manage your account online?

Yes, Capital One® Spark® Classic for Business has a mobile app that you can use to manage your account including making payments or locking your card to stop unauthorized transactions. Cardholders can also manage their accounts online.

Does Capital One® Spark® Classic for Business raise credit limits automatically or charge for limit increases?

Capital One® Spark® Classic for Business may raise credit limits automatically after periodic account reviews. There is no charge applied for limit increases.

Does Capital One® Spark® Classic for Business offer the options to freeze your credit/account or have other security features?

Capital One® Spark® Classic for Business cardholders can freeze or lock their accounts to stop unauthorized usage or fraudulent charges. You will also be notified in case of suspicious activity on your card through text, email or call alerts.

Does Capital One offer other credit cards besides Capital One® Spark® Classic for Business?

Capital One offers other credit cards besides the Capital One® Spark® Classic for Business including the Capital One Spark Miles for Business Select and the Capital One Journey Rewards Card.

Capital One® Spark® Classic for Business Credit Card Review

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

For those with fair credit, business credit cards are limited. That’s why the Capital One® Spark® Classic for Business stands out for its relatively low credit score requirement. You can earn unlimited rewards on business expenses using this card, but the high standard APR can make carrying a balance on this card expensive.

When determining if this is the right business card for you, consider all features, rates and fees in your evaluation of the Capital One® Spark® Classic for Business.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Recommended Credit
Limited – Fair

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OUR REVIEW AT A GLANCE

Credit Card Details at a Glance
Pros & Cons Explained
Bonuses & Rewards Explained
Our Verdict: Is This Card for You?

Capital One® Spark® Classic for Business at a Glance

If you want to build your credit while earning rewards, the Capital One® Spark® Classic for Business offers modest rewards of 1% for every purchase. Moreover, this card has no annual fees, allowing cardholders to reap the value of the card without incurring annual charges that eat into rewards.

Capital One® Spark® Classic for Business
A great no-annual-fee business card with cash back for those with fair credit.
- Limited – FairRecommended Credit
- $0Annual Fee
- 1% Cash BackRewards Rate
- 1.00%Cash Back Rate (Avg Value)
Pros
No annual fees
May qualify with fair/average credit
5% cash back through Capital One Travel
1% cash back on all other purchases
Free employee cards

Cons
High APR
No early spend bonus
Pay no annual and foreign transaction fees
Earn 5% cash back on hotel and rental car bookings made through Capital One Travel
Earn 1% cash back on all other purchases
No limit to the cash back you may earn
Choose your own due date
Get free employee cards with customized spending limits
Set up automatic payments
Receive year-end summaries
Benefit through roadside assistance
$0 fraud liability
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.

Pros & Cons Explained

The Capital One® Spark® Classic for Business benefits may be limited depending on what your needs are. Here are the main pros and cons to consider before making your decision.

Pros

Benefits
Description
No annual fees
There are no annual fees for this card, making it a good option for those looking to get the most out of the card’s rewards.
Simple rewards program
There is no need to keep track of spending categories as all purchases earn rewards at a 1% flat rate.
Relatively low credit score requirement
The credit score requirement for the Capital One® Spark® Classic for Business is fair, which typically means 580 or higher. This is helpful to business owners with fair credit scores who may not qualify for other business cards.

Cons

Drawbacks
Description
Low rewards rate
This card has a relatively low rewards rate compared to other cards in the same category so it may not offer the most value to you.
High APR rate
With a 29.74% variable APR, it can be costly to hold balances on this card due to high interest charges.

LOOKING FOR THE BEST CREDIT CARDS OF 2022?

The Capital One® Spark® Classic for Business benefits are limited and this card is not featured on MoneyGeek’s list of the best business credit cards. You can have a look at our recommendations for business cards that offer the most value for purchases, travel and more.

Bonuses & Rewards Explained

The Capital One® Spark® Classic for Business is best used when building credit, especially for those with fair credit scores. Moreover, you can still earn modest rewards in the process.

Welcome bonus

This card doesn’t offer a welcome bonus.

Earning rewards

The Capital One® Spark® Classic for Business earns you 1% cash back for all purchases. Rewards are unlimited and there are no category restrictions or caps.

Redeeming rewards

Rewards on your Capital One® Spark® Classic for Business card do not expire and can be redeemed at any time. You can redeem your cash back in the form of a paper check or get statement credits. You can also redeem your rewards for gift cards or other purchases. Capital One® Spark® Classic for Business also allows you to set up automatic redemptions on your card once your balance reaches a certain limit, which can make the redemption process even simpler.

Other Features Explained

Before you submit your Capital One® Spark® Classic for Business application, it’s important to be aware of the key features of this card.

Card Feature
Description
Standard features
The Capital One® Spark® Classic for Business benefits include Secondary rental-car insurance and roadside assistance, extended warranty protection and purchase protection for up to 90 days and free employee cards with customizable spending limits.
Security Features
You can manage your account online or using the Capital One mobile app, which allows you to lock your card or an employee’s card if you want to stop unauthorized usage. You will also get security notifications for any suspicious transactions via email, text or call.
Customer Experience
Cardholders have access to 24-hour customer service by phone. You can also conveniently manage your account online or via the Capital One mobile app. According to a satisfaction study by J.D. Power in 2021, Capital One ranked second-best in the small-business credit card category.

MONEYGEEK QUICK TIP

The Capital One® Spark® Classic for Business will offer the most value to business owners with fair credit who want to build their credit. This can be done by ensuring that you pay off your balance on time every month to improve your credit score and avoid the high APR charges.

Understanding the Fine Print

It’s important to understand the fine print on your credit card to avoid incurring penalties and other charges. The main fees to be aware of before choosing the Capital One® Spark® Classic for Business are highlighted below.

Card Feature
Amount or Rate
APR
29.74% Variable
Annual Fee
$0
Cash Back Rewards
Rewards Rate
1% Cash Back
Airline Benefits
Rewards Rate on Groceries
1x
Rewards Rate on Gas
1x
Rewards Rate on Dining
1x
Rewards Rate on Entertainment
1x
Rewards Rate on Online Shopping
1x
Rewards Rate on TV, Phone, Internet Services
1x
Rewards Rate on Air Travel
1x
Rewards Rate at Hotels
1x
Balance Transfer Fee
0%
Balance Transfer APR
29.74% Variable
Late Fees
Up to $39
Cash Advance Fee
$3 or 3%, whichever is greater
Cash Advance APR
29.74% Variable
Foreign Transaction Fee
None

Cash Back Rewards Rate
All purchases earn cash back at a flat rate of 1% for all categories.
Regular APR
The Capital One® Spark® Classic for Business has a variable APR of 29.74% for both purchases and transfers. This card does not come with an intro APR so the regular APR applies to all purchases and transfers.
Annual Fee
The Capital One® Spark® Classic for Business has no annual fee.
APR for Cash Advances
Cash advances attract a variable APR of 29.74%, depending on the prime rate.
Cash Advance Fees
Cash advances are charged $3 or 3% of the amount of each cash advance, whichever is greater.
Penalty APR and Fees
The penalty APR for late and returned payments is 32.4%. Late payments and returned payments attract a penalty fee of up to $39.
Interest Charges
The due date on the Capital One® Spark® Classic for Business is 25 days after the close of each billing cycle. No interest will be charged if your balance is paid in full by the due date.
Foreign Transaction Fees
This card has no transaction fees.

WHERE TO FIND THIS INFORMATION?

Credit card information, offers and reward rates may change over time. To stay updated on the Capital One® Spark® Classic for Business or any other card in your wallet, check the issuer’s website. You will also get up to date information on rates, charges and other fees in your monthly statement. The Consumer Financial Protection Bureau also has a database with useful information on different credit card issuers that can be useful when you want to review or compare cards.

Who Should & Shouldn’t Consider Capital One® Spark® Classic for Business?

Other Considerations for Capital One® Spark® Classic for Business

There are different ways to get the most out of your Capital One® Spark® Classic for Business depending on whether you choose this as your primary business card or an additional card in your wallet.

Things to Consider if This Will Be Your First or Only Credit Card

If the Capital One® Spark® Classic for Business is going to be your primary card, it’s important to be aware that it has a high standard APR so your balances can attract very high interest rates. This card will also offer the most value if you are trying to build your credit and are not eligible for other business cards, which may require a higher credit score to qualify. This card has no annual or foreign transaction fees so you can save on these charges if you opt for the Capital One® Spark® Classic for Business as your primary card.

Things to Consider if This Will Be an Additional Card in Your Wallet

If the Capital One® Spark® Classic for Business is going to be a secondary business card in your wallet, you can confidently use it for travel since foreign transaction fees do not apply. You can also use it to earn rewards in spending categories where other cards have restrictions or limits since the Capital One® Spark® Classic for Business allows you to earn unlimited rewards on all spending categories.

WHY TRUST OUR REVIEWS:

MoneyGeek’s methodology uses a comprehensive review process to determine the best credit cards for different profiles based on card fees, interest rates, rewards, benefits and more. We use a comprehensive six-step process that involves collecting credit card information, standardizing data point weights, establishing the cards' value and ranks for different categories, reviewing data monthly and rankings among other key rating factors.

How Capital One® Spark® Classic for Business Compares to Other Cards

Compared to other business cards, the Capital One® Spark® Classic for Business is relatively low on rewards. However, since the credit score requirements for the Capital One® Spark® Classic for Business are comparatively low, it may be the best option for small business owners who want to build their credit and earn rewards in the process.

Quick Comparison of Capital One® Spark® Classic for Business

Capital One® Spark® Classic for Business

Annual fee: n/a
Purchase APR: 29.74% variable
Foreign transaction fee: n/a
Rewards rate: 1% cash back for all purchases.
Credit score requirement: 580 - 850
Mini Verdict: Best for small businesses looking for a business credit card to build credit and earn modest rewards.

Capital One® Spark® Miles Select for Business

Annual fee: n/a
Purchase APR: 18.24% – 28.24% , based on creditworthiness
Foreign transaction fee: n/a
Rewards rate: 1.5 miles per dollar on all purchases. 5 miles per dollar for hotel and travel bookings through Capital One Travel.
Recommended Credit score: 800 to 850
Mini Verdict: Best for small businesses looking for a simple flat-rate travel rewards card with no annual fees.

Other Helpful Decision-Making Q&As

If you want to learn more about the Capital One® Spark® Classic for Business application process, benefits and features, take a look at the answers to frequently asked questions below.

Still not sure about this card? Consider these options.

The Capital One® Spark® Classic for Business benefits may not give you much value unless you have a fair credit score and are looking to build your credit. The modest rewards and no-annual fees are a good perk for those who may not qualify for other business credit cards due to credit score requirements. To compare this card with other options in the small business credit card niche, take a look at MoneyGeek’s recommendations for the best business credit cards of 2022.

View All Credit Cards

Learn more about credit cards in general

sources

Capital One. "Spark 1% Classic." Accessed April 12, 2022.
Capital One. "Application Terms." Accessed April 12, 2022.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.

MoneyGeek’s Take