Credit Cards

Capital One Spark 1% Classic Business Card Review

Editorial IndependenciaWe want to help you make more informed decisions. Some clearly marked links on this page may take you to a partner website and may earn us a referral fee. For more information, see How we make money. Capital One® Spark® Classic for Business Editor’s Score: (N/A)

Editor’s Score: (N/A)

Last updated February 21, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

Reward rate:

Earn unlimited 1% cash back for your business on every purchase, everywhere, with no limits or category restrictions.

NextAdvisor’s Take

advantages

  • Available to business owners with fair credit scores
  • No annual fee and no foreign transaction fees
  • Free employee cards

Cons

  • No welcome offer
  • High APR if you carry a balance
  • Minimum cardholder benefits
  • Does not allow balance transfers

The bottom line

The Capital One Spark Classic Business Card allows business owners with imperfect credit or limited credit history to earn rewards with no annual fee. Consider this card if you want the opportunity to build credit while earning 1% cash back on business purchases.

Additional card details

  • Available to business owners with fair credit
  • Business benefits including year-end reporting, free employee cards, and the ability to set spending limits for individual employees
  • Roadside assistance and extended warranties
  • Choose your monthly due date
  • Buy records to download to software like Quicken or QuickBooks

Capital One Spark 1% Classic Business Card Full Review

card type

The Capital One Spark Classic Business Card is a business credit card. Unlike many business rewards options, you can qualify with a fair credit score or limited credit history.

Annual quota

There is no annual fee to carry this card.

Welcome Offer

The Capital One Spark Classic Business card does not have a welcome offer of any kind.

introductory offer

There is no introductory APR for pre-approved purchases or balance transfers.

rewards

The Capital One Spark Classic Business Card offers a flat, unlimited 1% cash back on all purchases. This is better than some credit building cards without rewards, but 1% is a pretty low rewards rate compared to other business rewards options.

When you’re ready to redeem your rewards, you can receive cash back in the form of a check or statement credit.

Rate

This business credit card comes with no annual fee or foreign transaction fees. Fees to be aware of include a 3% cash advance fee (minimum $10) and a $39 late payment fee if you pay your bill after the due date. If you make a late payment, you can also incur a penalty APR of up to 29.4%.

Other benefits

This business card doesn’t have many perks, but you’ll get access to year-end expense summaries and free employee cards, and you can set spending limits for individual employees. There are also some protections you may qualify for, including roadside assistance and extended warranties on eligible items that come with a manufacturer’s warranty.

Capital One Spark 1% Classic Business Card Benefits

If you’re a business owner, but a lack of credit history or a fair credit score prevents you from qualifying for the best business credit cards, the Capital One Spark Classic Business Card is a good starter card. The 1% rewards rate is lower than many competing cards offer, but you can still earn cash back while building credit for the future. Considering this card doesn’t charge an annual fee, it’s a pretty good deal.

Disadvantages of the Capital One Spark 1% Classic Business Card

The biggest drawback to the Capital One Spark Classic business card is the incredibly high APR you’ll pay if you carry a balance. With a variable APR of 26.99%, everything you buy will get significantly more expensive if you don’t pay your balance in full each month.

Also note that this card does not have a welcome offer or many additional benefits. While other business cards may offer stronger benefits, this is quite common among credit cards for bad credit or fair credit.

How to Use the Capital One Spark 1% Classic Business Card

There’s no welcome offer or introductory APR with this card, so the best way to start maximizing your spending is to simply use your Spark Classic Business card for all your business purchases to earn 1% back.

This credit-building card can also be a great way to establish the habits that will help you maintain a good score in the long run. Have a plan to pay your balances in full and on time each month. Create a budget for your business expenses so you don’t spend more than you can afford when your statement is due. Not only will this help you avoid this card’s ongoing very high APR, but it can also build your credit over time so you can move to a business card with better rewards and benefits.

Capital One Spark Classic Business Card 1% compared to other cards

More information external link icon

Capital One® Spark® Classic for Business

Editor’s Score: (N/A)

Editor’s Score: (N/A)

Last updated February 21, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

  • Introductory offer:

    N/A

  • Annual quota:

    $0

  • ordinary APR:

    26.99% (changeable)

  • Recommended Credit:

    (No Credit History)

  • More informationexternal link icon On our partner’s secure site

More information external link icon Capital One Spark Cash Plus

Capital One Spark Cash Plus

Editor’s Score: (N/A)

Editor’s Score: (N/A)

Last updated February 21, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

  • Introductory offer:
  • Annual quota:

    $150

  • ordinary APR:

    N/A

  • Recommended credit:

    670-850 (Good to Excellent)

  • More informationexternal link icon On our partner’s secure site

More information external link icon Ink Business Cash® Credit Card

Ink Business Cash® Credit Card

Editor’s Score: (4.0/5)

Editor’s Score: (4.0/5)

annual fee: 5.0

welcome bonus: 4.0

rewards: 4.0

other benefits: 3.0

reward flexibility: 5.0

ongoing april: 4.0

other cost rates: 4.0

Last updated February 21, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

  • Introductory offer:
  • Annual quota:

    $0

  • ordinary APR:

    13.24% – 19.24% Variable

  • Recommended Credit:

    670-850 (Good to Excellent)

  • Apply Nowexternal link icon On Chase’s secure site

Is the Capital One Spark 1% Classic Business Card Right for You?

If you’re looking for a business card that earns simple rewards and can double as a way to keep your business and personal expenses separate, the Capital One Spark Classic will do the trick. And if you have little personal credit history, it’s a good option too. You’ll have the opportunity to build your credit score with timely payments, and unlike many other credit-building cards, you won’t pay an annual fee while earning cash back.

That said, if you have the credit to qualify, there are much better business rewards card options available. For example, the Chase Ink Business Cash credit card also doesn’t charge an annual fee, but you’ll earn 5% back on your first $25,000 in combined spending at office supply stores and on internet, cable, and phone services annually; 2% cash back on your first $25,000 in combined gas and restaurant spending; and 1% back on everything else. Capital One Spark Cash Plus also has an annual fee of $150, but it will double your rewards with 2% cash back on every purchase.

Before you apply, compare other business credit card options you may qualify for. Your credit history, regular business expenses and budget can help you determine the right mix of credit card benefits and features that work best for your business.

Frequently asked questions (FAQ)

What credit score do you need for the Capital One Spark Classic Business Card?

This business card is for people with little or “fair credit,” which generally means a FICO score of 580 or higher.

Is the Capital One Spark Classic Business Card an unsecured credit card?

The Capital One Spark Classic Business Card is an unsecured credit card. You do not have to put down a security deposit as collateral when you open the account.

Does the Capital One Spark Classic Business Card charge foreign transaction fees?

The Capital One Spark Classic Business Card does not charge foreign transaction fees if you use it for purchases outside of the United States.

Does the Capital One Spark Classic Business Card report to credit bureaus?

This business card reports your balances and payments to business and personal credit bureaus, which is how it helps you build credit through a positive payment history.

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