Capital One® Spark® Classic for Business Review
The Capital One® Spark® Classic for Business credit card is a good option for entrepreneurs and small-business owners. The credit score requirement of fair to excellent allows business owners with fair credit to build better credit while earning rewards. Included in the benefits is 1% unlimited cash back rewards on all purchases.
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 FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
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 & 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.
- No annual feesThere 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 programThere is no need to keep track of spending categories as all purchases earn rewards at a 1% flat rate.
- Relatively low credit score requirementThe 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.
- Low rewards rateThis 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 rateWith a 28.49% standard APR, it can be costly to hold balances on this card due to high interest charges.
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.
This card doesn’t offer a welcome bonus.
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.
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 FeatureDescription
- Standard featuresThe 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 FeaturesYou 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 ExperienceCardholders 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.
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 FeatureAmount or Rate
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1% Cash Back
- Airline Benefits
Cash Back Rewards Rate
All purchases earn cash back at a flat rate of 1% for all categories.
The Capital One® Spark® Classic for Business has a variable APR of 28.49% for both purchases and transfers. This card does not come with an intro APR so the regular APR applies to all purchases and transfers.
The Capital One® Spark® Classic for Business has no annual fee.
APR for Cash Advances
Cash advances attract a variable APR of 26.99%, depending on the prime rate.
Cash Advance Fees
Cash advances are charged $10 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 31.15%. Late payments and returned payments attract a penalty fee of up to $39.
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.
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.
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: 28.49%
- 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 for Business Select
- Annual fee: n/a
- Purchase APR: 16.99, 22.99% or 26.99%, 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.
- Credit score required: 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.
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