Capital One Spark Classic for Business Reviews: Is It Worth It? (2024)Reviews, rates, fees, and rewards details for The Capital One Spark Classic for Business. Compare to other cards and apply online in secondsJohn KiernanWalletHubNo membership feesNo foreign transaction feesQualify with limited credit historyDoes not require security depositHigh regular APR
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Business - Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
3.5
User Reviews
3.4
Market Comparison
4.8
fees: 5.0
rewards: 5.0
cost: 4.8
Other Features: 4.5
Unlimited 1% cash back
for your business on every purchase, everywhere, no limits or category restrictions
Capital One Spark Classic for Business is the best credit card for small business owners with limited credit history. The best things about the Spark Classic business card are its $0 annual fee and the 1% cash back that cardholders earn on all purchases. That rewards-earning rate is roughly average for a cash back credit card.
WalletHub Rating Breakdown
User Reviews
3.4/5
1,215 reviewsRead and write reviews
Editor’s Review
3.5/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
4.8
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Business - Improve Credit by Paying in Full Each Month” for this card.
Fees
5.0
Rewards
5.0
Cost
4.8
Other Features
4.5
4.8/5
Compared against 1,500+ credit cards
KEY TERMS
Unlimited 1% cash back
for your business on every purchase, everywhere, no limits or category restrictions
Accepted Credit Scores
Accepted Credit Scores
Fair Credit, Limited History, No Credit
Capital One Spark Classic Annual Fee
$0
Capital One Spark Classic APR on Purchases
29.99% (V)
Capital One Spark Classic Balance Transfer
APR: 29.99% (V)
Balance Transfer Fee:$0 at the Transfer APR
Capital One Spark Classic Rewards
Earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
Free employee cards, which also earn unlimited 1% cash back on all purchases
Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
Capital One Spark Classic's Additional Info
No annual fee
Build and strengthen credit for your business by using this credit card responsibly
Capital One Spark Classic for Business is the best credit card for small business owners with limited credit history. The best things about the Spark Classic business card are its $0 annual fee and the 1% cash back that cardholders earn on all purchases. That rewards-earning rate is roughly average for a cash back credit card.
Capital One Spark Classic has a pretty high APR, so it’s not great for financing. This Capital One business credit card doesn’t have a whole lot of competition, though, unless you consider general-consumer cards for limited credit. Most small business credit cards require at least good credit for approval.
Those are the key things you need to know. But you can find more details below that should help you decide whether or not to apply for Capital One Spark Classic.
Capital One Spark Classic Review Highlights:
No annual fee. With no annual fee, the Capital One Spark Classic Card is $22.29 per year cheaper than the average credit card. However, the fact that this might be the card’s best feature is far from encouraging.
Designed for business owners with limited or fair credit. Spark Classic is one of just a dozen or so business credit cards for people with limited or fair credit. So in addition to checking your latest personal credit score for free on WalletHub, you should make sure to consider general-consumer cards before you apply. After all, using a personal credit card for business doesn’t increase your liability, and broadening your credit card horizons will improve your odds of getting the best deal.
Average rewards. You will earn 1% cash back on every purchase made with the Capital One Spark Classic for Business Credit Card. That’s just barely on the wrong side of the 1.15% average for a cash rewards card. And there are a number of rewards cards for people with limited or fair credit that offer more value. Cardholders can also earn 5% back on hotels and rental cars booked through Capital One Travel.
Above-average APR. The average credit card for someone with fair credit has a 26.41% regular APR, while the Capital One Spark Classic Card charges 29.99% (V). That, combined with the fact that issuers can increase the interest rate on business credit card balances whenever they wish, is why you don’t want to carry a balance from month to month with Spark Classic.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Business - Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
3.5
User Reviews
3.4
Market Comparison
4.8
fees: 5.0
rewards: 5.0
cost: 4.8
Other Features: 4.5
3.7WalletHub Rating
WalletHub Rating
3.7
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Business - Earn Rewards." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
4.2
User Reviews
3.8
Market Comparison
3.6
fees: 5.0
rewards: 3.3
cost: 3.7
Other Features: 0.0
4.2WalletHub Rating
WalletHub Rating
4.2
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Business - Finance New Purchases." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Can't find what you are looking for? Submit your question about Capital One Spark Classic for Business to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
The Capital One Spark Classic for Business card is available to people with limited credit. That means you do not need to have a credit score to get approved for the Capital One Spark Classic for Business card. Capital One evaluates applications based on a review of the applicant's personal credit history, since cardholders must personally pay off any debts the business cannot.
You should note that there are plenty of other things that will impact your chances of being approved for the Capital One Spark Classic Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status. You can check your credit score for free on WalletHub.
The main Capital One Spark Classic (see Rates & Fees) requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also have a physical U.S. address, enough income to make monthly minimum payments, and at least limited credit history.
Capital One Spark Classic Requirements
At least 18 years old
Physical U.S. address (no P.O. boxes)
Proof of enough income to make the monthly minimum payment
You can get approved for the Capital One Spark Classic card with no credit.
Spark Classic is an entry-level unsecured credit card for small business owners with limited or fair personal credit. So you should be able to get approved without much, or any, prior credit experience, as long as there aren't any negative records on your credit report.
The Capital One Spark Classic (see Rates & Fees) credit score requirement is 640+. This means that you need to have at least fair credit to get this card.
At the same time, though, Capital One Spark Classic (see Rates & Fees) is also designed for people with limited credit. So, you should be able to qualify for this card even if you have less than 3 years of credit history.
However, meeting the credit score requirements doesn't guarantee that your application for Capital One Spark Classic (see Rates & Fees) will be approved. The issuer will also take into...
You can check for Capital One Spark Classic credit card pre-approval online.
Capital One has a pre-approval tool that allows potential applicants to gauge their approval odds before submitting an application. From the Capital One credit cards page, click the “See if You're Pre-Qualified” link. Then, complete the electronic questionnaire and press the green “See Your Card Offers” button.
The pre-approval tool isn't just for the Capital One Spark Classic, so the search...
Yes, Capital One Spark Classic for Business (see Rates & Fees) will do a hard pull on your credit report when your application is evaluated. It is designed for applicants with limited credit (less than 3 years of credit history), but other factors will also be taken into consideration. These include your income, debts and overall ability to make credit card payments.
A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people's scores bounce back within 3-6 months with responsible credit management, but it...
The Capital One Spark travel insurance covers car rentals, along with death and injury when you travel.
If a covered event takes place, call the number on the back of your card and they will provide assistance. Of course, conditions apply so make sure to consult the paperwork that was mailed with your card.
1
0
2024 WalletHub Awards
Capital One Spark Classic for Business is an Editor's Pick for:
Share your insights and review for the Capital One Spark Classic for Business
5
18%
4
31%
3
34%
2
13%
1
4%
3.4
1,215 reviews
1,215 reviews
What's Your Rating?
Most Recent
Most RecentMost Useful
Review sort
Lauren Christopher @roxy2920
Report Abuse
1 Star Rating
Cannot use this card for business. They adjust credit limits month to month. Had a $9,600 charge on the card in month one that we charged, then in month three I had a $7,400 charge that they kept denying due to credit limits. The card was paid off in full every month. Will be moving to a different credit card company; it is impossible to operate reliably with this card.
show more
show less
Comment
0
0
enkisports @enkisports
Report Abuse
1 Star Rating
My score went down 26 points after using 46% of the limit! That is insane. It affected my personal credit so badly. I do not ever recommend getting this card for business. It will ruin your credit horribly.
show more
show less
Comment
0
0
hedwards @hedwards
Report Abuse
2 Star Rating
Verified Customer
If there are other competitors consider them. I’ve an outstanding reputation with Capital One in regards to payment history. Despite reputation, it’s pulling teeth to receive credit limit increase(s). Just recently I recently received a denial letter clearly based on someone else’s credit report. Reasons for denial are at minimum blatant lies, example: I’ve never been late on payments; letter states I was recently late. I actually make payments far in advance of the due dates and either the entire balance due or in large increments. Prior to writing this review, I spoke to a Senior Account Manager and my concern was not taken serious. Unfortunate because I dislike writing negative reviews but it’s warranted for this matter.
show more
show less
Comment
0
0
FERNANDO Arceo @arceo.fernando
Report Abuse
1 Star Rating
Don’t fall for “easy card to qualify.” I have good personal credit with nothing negative, the business has nothing negative as well and is at least 2 years old, and they have rejected me twice in the last year and a half.
show more
show less
Comment
0
0
finolnn @finolnn
Report Abuse
1 Star Rating
Verified Customer
This credit card is supposed for business but report in your personal credit report. Isn’t make any sense get this Credit card if it’s going to hit your credit score as a personal credit card
So put and star is too much for issues like this and be aware because in the description isn’t mentioned things very important for me who wants to keep in good stand your personal credit score
show more
show less
Comment
1
1
styledbysyl @styledbysyl
Report Abuse
1 Star Rating
Verified Customer
My phone was stolen and the person who had it maxed out my card with the pay pal account I had it connected to. Capital one did an “investigation” but I still ended up having to pay the fraudulent charges. Side note, Don’t be late making a payment, late payments fees are $29 per late fee.
show more
show less
Comment
0
0
Ali K @alikc
Report Abuse
1 Star Rating
Poor customer service, poor communication, rude employees and lack of care for the customer.
If you are a small business and appreciate your time, then don't open a Spark Credit Card.
They don't know how to verify businesses, their representatives are rude and untrained. When asking for documents they keep asking for the same over and over saying they cant approve you and need more documentation. When you talk to their phone representatives they tell you just send us this ONE document, you send it and then you get a generic email saying we need more information. That happened at least 4 times last year when I tried to open the account. I would talk to them on the phone, sent them what they ask and then when you talked to someone else they would contradict each other and say the other person is wrong now I need this document.
Well, that was the ordeal when I tried to open until I sent a letter addressed to the manager and my application got approved. It is important to mention that I have been a customer of Capital One for more than 15 years, I have 7 accounts with them and have a excellent credit score.
To my surprise, this last week...a year after I opened this account they send me a letter saying WE ASKED FOR THE WRONG DOCUMENTS BEFORE, WE NEED YOU TO SEND US MORE DOCUMENTS or WE will close your account! This is a normal LLC company and all possible registration documents have been sent to them.
Are you kidding me?! I can't spend any more of my precious time with this company. I am tired of dealing with such an incompetent company. I am closing this account, there are many other banks.
Stay away from this Spark Card.... try another more organized bank.
show more
show less
Comment
0
0
shenita @shenitg710
Report Abuse
5 Star Rating
Verified Customer
I just literally opened the account and was approved for $4000. I understand the interest rates are extremely high, so I plan to charge and immediately pay off. This card sole purpose is to establish business credit, so I can move away from personal credit. Thanks Cap One!
show more
show less
Comment
2
0
BANI @lemusjt007
What's your credit score and how much income you reported?
show more
show less
Comment
0
0
John B @amy_hu1932
Report Abuse
3 Star Rating
Verified Customer
This is a great starter card if you're looking for a business card for fair credit. This was the first business CC I was approved for and at the time had around a 640 FICO score. My initial CL was $2,000. I've had the card for almost two years now and my limit is only $2,500. I'm considering closing the card due to how conservative they are with increases. I was approved for the AMEX Platinum card recently and I can carry a HUGE balance at 0% the first year and have a high spending limit. I don't see myself using this card anymore. I gave it a three stars because it's great to start out, but I wish you could upgrade after a few years positive history or at least give higher limits.
show more
show less
Comment
0
0
Michael Sanders @nansents
Before applying for the AMEX Platinum card did you have any improvement with your 640 FICO score?
show more
show less
Comment
0
0
mathmik @mathmik
Report Abuse
5 Star Rating
Verified Customer
Great card to start building business credit. You will have to be a PG but it reports to the business credit reports and thats what you want to start building business credit so you won't have to be a PG in 4 to 6 months later.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.
2024 WalletHub Awards
Capital One Spark Classic for Business is an Editor's Pick for: