How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
If you’re a small business owner looking for a credit card to manage your expenses, you’ll find that most require good to exceptional credit. The Capital One Spark Classic for Business, however, is available even if your credit is fair. That makes this $0-annual-fee card an ideal choice for business owners who either have a few dings on their credit history or don’t have much credit history at all.
Intro Purchase APR
N/A
Regular Purchase APR
29.99% (Variable)
Intro BT APR
N/A
Regular BT APR
29.99% (Variable)
Annual Fee
$0
Cash Advance Fee
Either $5 or 5% of the amount of each cash advance, whichever is greater
Foreign Transaction Fee
$0
Balance Transfer Fee
N/A
Forgiving of less-than-perfect credit
When you’re applying for a business credit card, your personal credit history and score can factor into whether you’re approved or denied. Most business cards require the applicant to have good to exceptional credit, meaning those with some blemishes on their credit reports might struggle to get approved.
However, the Capital One Spark Classic for Business is accessible even if you have fair credit, making it more available to those who may not qualify for other business cards.
Do note that if you have bad credit (a credit score below 600), you probably won’t qualify for this card. A better choice might be a secured business card such as the Wells Fargo Business Secured Credit Card. With a secured card, you must submit a deposit to the issuer (typically in the amount of your desired credit limit).
Flat-rate cash back program
The Capital One Spark Classic for Business offers earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions. plus, earn unlimited 5% cash back on hotels and rental cars booked through capital one travel..
Since you earn a flat rate on all your spending, you don’t have to keep track of different rewards categories. Plus, there’s no cap on how much cash back you can earn, and your cash back doesn’t expire as long as your account is open and in good standing.
No annual or foreign transaction fee
With a $0 annual fee, you don’t have to pay just to carry this card. And don’t worry about paying a foreign transaction fee on each purchase if business takes you outside the United States, because the Capital One Spark Classic for Business charges $0.
Low cash back rate
Cardholders earn earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions. Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. with the Capital One Spark Classic for Business. Considering the card is aimed at those with fair credit, a rewards program is a positive feature. But if your credit is good or better, you can likely get a card that earns more.
Expensive to carry a balance
We always recommend paying your credit card in full each billing cycle rather than rolling over a balance to avoid paying interest charges. But that’s especially important with the Capital One Spark Classic for Business, which has a high 29.99% (variable) APR — meaning any interest charges incurred are likely to be expensive.
Won't earn a sign-up bonus
If your credit is fair, it’s probably not a big deal that the Capital One Spark Classic for Business doesn’t offer a sign-up bonus — it’s still one of the best options available for your credit band. However, if you have good to exceptional credit, it’s relatively easy to find business credit cards offering sign-up bonuses worth $250, $500 or even more. If you know you’ve got a big purchase coming up for your business, a credit card sign-up bonus offers a way to offset part of the cost.
If you have good credit (FICO Scores between 670-739), you may want to look at the Capital One Spark Cash Select for Good Credit instead of the Capital One Spark Classic for Business. You’ll earn a higher rewards rate of 1.5% cash back on every purchase; 5% cash back on hotels and rental cars booked through capital one travel, and the annual fee is still $0. Plus, the card comes with an intro APR on new purchases.
The Capital One Spark Cash Select for Good Credit comes with an intro APR of 0% on purchases for 12 months, after which a 21.24% - 29.24% (variable) APR applies. If you need to finance a big-ticket item for your business, this intro period could help you do that.
You don’t have to worry about a foreign transaction fee if business takes you abroad because there is none.
| Credit Cards | Our Ratings | Rewards Rate | Welcome Offer | Annual Fee | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|---|
|
Capital One Spark Classic for Business*
|
Earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions. Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. | N/A | $0 | Fair | ||
Capital One Spark Cash Select for Good Credit*
Learn More
on Capital One's secure site |
1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel | N/A | $0 | Good |
Learn More
on Capital One's secure site |
|
Capital One Spark Cash Select*
|
1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel | $500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening | $0 | Excellent | ||
Wells Fargo Business Secured Credit Card*
Learn More
on Wells Fargo's secure site |
N/A | Earn 1.5% cash back on every $1 spent OR Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period | N/A | $0 | Poor / Fair |
Learn More
on Wells Fargo's secure site |
If you’re a business owner with good credit or better, the Capital One Spark Classic for Business probably isn’t the credit card you’re looking for. There are other business cards that offer sign-up bonuses, 0% introductory APR periods and more lucrative rewards programs.
However, if you’re a business owner with fair credit, your choice of cards is much slimmer, and the Capital One Spark Classic for Business may be easier to qualify for.
The card offers flat-rate cash back on every purchase, and what you earn won’t expire for the life of your account. There’s a $0 annual fee and a foreign transaction fee of $0. However, you should avoid carrying a balance on the Capital One Spark Classic for Business due to its high 29.99% (variable) APR.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Capital One Spark Classic for Business, Wells Fargo Business Secured Credit Card, Capital One Spark Cash Select for Good Credit and Capital One Spark Cash Select has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
