MoneyGeek’s Take

Capital One® Spark® Classic for Business Review

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ByDoug Milnes, CFA
Reviewed byAlene Laney
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ByDoug Milnes, CFA
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Reviewed byAlene Laney
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Updated: June 14, 2024

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Capital One® Spark® Classic for Business

Rewards RateEarn 1% cash back on every purchase
APR29.99% variable
Annual Fee$0
Recommended CreditLimited – Fair
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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.

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.

Capital One® Spark® Classic for Business Overview

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.

Quick Take

  • 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

Important Card Details

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.

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    Cash Back Rewards Rate

    All purchases earn cash back at a flat rate of 1% for all categories.

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    Regular APR

    The Capital One® Spark® Classic for Business has a variable APR of 30.74% for both purchases and transfers. This card does not come with an intro APR so the regular APR applies to all purchases and transfers.

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    Annual Fee

    The Capital One® Spark® Classic for Business has no annual fee.

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    APR for Cash Advances

    Cash advances attract a variable APR of 30.74%, depending on the prime rate.

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    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 34.65%. Late payments and returned payments attract a penalty fee of up to $39.

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    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.

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    Foreign Transaction Fees

    This card has no transaction fees.

Additional Benefits

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

  • 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.

How the 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.

How the Capital One® Spark® Classic for Business Compares

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Capital One® Spark® Classic for Business

  • Annual fee: n/a
  • Purchase APR: 30.74% 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.
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Capital One® Spark® Miles Select for Business

  • Annual fee: n/a
  • Purchase APR: 18.24% – 24.24% , 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.

Frequently Asked Questions

What is the average credit score needed to get approved for Capital One® Spark® Classic for Business?
Does Capital One® Spark® Classic for Business report to all three credit bureaus?
Is the Capital One® Spark® Classic for Business application process lengthy? Can you prequalify?
What information is needed to apply for Capital One® Spark® Classic for Business?
Does Capital One® Spark® Classic for Business have good customer service or satisfaction?
Does Capital One® Spark® Classic for Business have a mobile app or the option to pay or manage your account online?
Does Capital One® Spark® Classic for Business raise credit limits automatically or charge for limit increases?
Does Capital One® Spark® Classic for Business offer the options to freeze your credit/account or have other security features?
Does Capital One offer other credit cards besides Capital One® Spark® Classic for Business?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


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