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.
Our take: The Capital One Spark Classic for Business card is a decent small business card that’s open to applicants with fair credit and has a $0 annual fee. However, there are other business credit cards with better benefits for business owners with higher credit scores.
The Capital One Spark Classic for Business can be worth it for business owners who need to build credit, since you may qualify with fair credit. The Capital One Spark Classic for Business also has a $0 annual fee so the card won’t cost you anything.
It doesn’t have a very impressive rewards rate, but if you’re applying for this card, you should focus on building credit to qualify for more premium credit cards rather than earning rewards. If you have a good credit score and can qualify for other more lucrative credit cards, the Capital One Spark Classic for Business is probably not worth it for you.
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
Available to business owners with lower 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 (generally considered to be a FICO® Score of 580 to 669 or a VantageScore® score of 601 to 660), making it more available to those who may not qualify for other business cards. The benefits are scarce on this card, but it can be used as a stepping stone toward more valuable cards for business owners working on rebuilding their credit.
Flat-rate cash back program
The Capital One Spark Classic for Business lets you 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.
While there are other cards that offer higher rewards rates, they generally have higher credit score requirements. Cards geared toward business owners with low credit scores often don’t offer any rewards.
No annual or foreign transaction fee
With a $0 annual fee, you don’t have to pay just to carry this card. This is a major plus, since cards that target low-credit individuals often charge high annual fees. Also, The Capital One Spark Classic for Business is a good card to bring on business trips outside the United States, because it has a $0 foreign transaction fee.
Low cash back rate
For a card aimed at applicants with fair credit, the Capital One Spark Classic for Business offers a decent rewards rate. But if your credit is good or better, you can likely get a business credit card with better rewards, like The American Express Blue Business Cash™ Card.
Expensive to carry a balance
It’s always best to pay 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.
No sign-up bonus
If your credit is fair, it’s not a big deal that the Capital One Spark Classic for Business doesn’t offer a sign-up bonus — most cards geared toward this credit band don’t. However, if you have good to exceptional credit, it’s easy to find business credit cards with excellent sign-up bonuses. The Ink Business Preferred® Credit Card, Capital One Spark Cash Plus or the The American Express Blue Business Cash™ Card all have valuable welcome offers.
| Credit Cards | Our Ratings | Rewards Rate | 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. | $0 | Fair | ||
Business Advantage Unlimited Cash Rewards Secured credit card*
Review Coming Soon
|
Unlimited 1.5% cash back on all purchases | $0 | See website for details* | Review Coming Soon | |
The American Express Blue Business Cash™ Card*
|
Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% | No annual fee | Good / Excellent | ||
Ink Business Unlimited® Credit Card*
|
Earn unlimited 1.5% cash back on every purchase made for your business | $0 | Good / Excellent |
You’ll earn a higher rewards rate of unlimited 1.5% cash back on all purchases. It also has a slightly lower 18.49% - 28.49% Variable APR.
You’ll earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. Plus, it offers an attractive rewards rate: Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.
Plus, it has an introductory APR offer on purchases that can help you finance a big business purchase.
The Ink Business Unlimited® Credit Card does require a high credit score to be approved, but if you can qualify for it and meet the spending target for the welcome bonus, it’s likely the better option for your business.
If you’re a business owner with fair credit, the Capital One Spark Classic for Business is an affordable business credit card with decent benefits that may be easier to qualify for. You’ll get a flat-rate cash back on every purchase. There’s a $0 annual fee and a $0 foreign transaction fee.
But, if you have good credit or higher, 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, like the Ink Business Unlimited® Credit Card.
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, The American Express Blue Business Cash™ Card, Ink Business Preferred® Credit Card, Capital One Spark Cash Plus, Business Advantage Unlimited Cash Rewards Secured credit card, Ink Business Unlimited® Credit Card and Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card 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.
