October 12th, 2011

Review: Capital One Sparks Interest in Business Credit Cards

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Capital One Sparks

Capital One introduced a new line of business credit cards entitled Spark. The cards fall into three distinct categories: Average Credit, Miles and Cash Back.

 

Spark Classic: Get Solid Cash Back without Excellent Credit

The new Capital One Spark Classic for Business card is targeted at business owners with average credit, likely between 550 – 639.



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Spark Miles: Buying to Fly

For customers who have excellent credit and are interested in earning airline miles, the Spark Miles for Business and Spark Miles Select for Business are now available.



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If your credit is excellent, a better option might be the Spark Miles for Business card:



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Spark Cash: Cash Back with Compromises

In the cash back category, the business Spark Cash and Spark Cash Select cards are very similar to their miles counterparts.



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The right credit card for you

Are any of these cards right for you and your business? It mostly depends on your business’ spending habits month to month. If you think you’ll be spending significantly month to month, a cash back or miles card is a good way to earn extra on your business. However, if you need to carry a balance, low APR rates are a much more important consideration.

Disclaimer: All information posted to this site was accurate at the time of its initial publication. Efforts have been made to keep the content up to date and accurate. However, Credit Karma does not make any guarantees about the accuracy or completeness of the information provided. For complete details of any products mentioned, visit bank or issuer website.

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4 Comments

  1. I think it is important to point out that “business cards”, which are now being pushed heavily to consumers, are exempt from most of the the consumer protections of the Card Act.

    Pete at 6:54 am on October 13, 2011
  2. This is not the card for a business that charges a lot of their purchases. We have only had it 3 months, Pay it off every month. Yet in the third month, we started having charges denied. We were told to make a mid month payment in order to be able to continue to charge. Never heard of such a thing! We have a B of A card with a high limit that we have had for years. We figured with our credit it would not be an issue to take advantage of the 2% cash back. We will be looking for a new card as we continue to use our B of A MC.

    Karen at 6:21 pm on February 23, 2012
  3. Capital One is disregarding the Usury Statues of the State of Illinois. They are charging outrageous interest rates for their business customers. Do not get stuck in a Capital One Business Card; they are not friendly to small businesses.
    I have been a long time customer, but that does not seem to matter. It is impossible to talk with anyone about this at Capital One.

    Tom at 1:40 pm on March 8, 2012
  4. My 16 year old company spends a lot on hardware each month and I was anxious to start banking some rewards for all these purchses. So I signed up for the capital one Spark Business card. I have had the card less than a week and the experience so far has me wanting to close my account – but now capital one will not let me.

    On the very first transaction, they declined the charge and froze the account. I had to call them and they said the transaction I made was ‘suspicous’ and so they locked the entire account. I had to personally confirm to them that the charge is authorized before they would unlock the card.

    Two days later I login to pay the balance in full (because the credit line is ridiculously small) and I’m surprised to find the account is locked out again! I had not even made any charges. So I call them up again and now they are implying it is me who is committing fraud against them! I was not aware people who commit fraud actually pay their bills. In any case, they wanted me to fax my drivers license and social security card. I personally have not seen my social security card since I was ~16 years old. I know the number but have no idea where that card is. anyway I told them that and they said to fax in a W2 instead.

    This was after I got done telling him I am the owner of this business. Needless to say, business owners do not give themselves W2′s.

    So instead I told them to just close the account and I will take my business to a bank that values it. They told me they can’t until I fax in my personal documents.

    That is not happening and so now I am stuck with a capital one card that I do not want and they refuse to close.

    Barry at 9:59 am on March 30, 2012

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