Updated August 11, 2017
Credit Needed: Fair/Limited
If you're a business owner with less than stellar credit, finding a credit card to help fund your expenses can be a challenge. That's where the Capital One Spark Classic for Business card can help. Credit scores only need to be average to be accepted, but that doesn't mean the benefits are subpar.
Full Card Review
The Capital One Spark Classic for Business is a card that helps you free up your money as you use it. Thanks to the lack of an annual fee and a 1% cash back bonus on every purchase, this card is an excellent deal over time. You will also receive free cards for employees with your membership, and a $0 transaction fee on foreign purchases.
Saving money is critical for a business owner, but so are logistics. The Capital One Spark Classic card helps to streamline common business issues. For example, an owner needs to continuously pull together data for tax purposes, and this card includes quarterly and year-end summaries to expedite that process.
Another important benefit - As a cardholder, you will also be provided with fraud protection. There is a $0 fraud liability if your card is stolen or lost, and you will be kept up to date with fraud alerts via text, email or phone. The Capital One Spark Classic card also comes with purchase security and extended protection, which will cover eligible items you've purchased with your card if they are lost or stolen within 90 days. This feature also doubles the length of the manufacturer's warranty.
Here is where you will need to be careful: The ongoing APR is 23.99% variable APR, which is pretty high if you carry a balance Account for that ahead of time and prepare to pay if you hang onto a balance month to month. If your plan is to transfer a balance and pay down debt, this may not be the card for you. But this card is ideal for launching a business and getting it stabilized, especially if you are uncertain whether your credit score is strong enough for other cards.
Rewards and Benefits
- Enjoy no annual fee
- Earn 1% cash back on every purchase, every day
- Build business credit with responsible use
- Fraud coverage if your card is ever lost or stolen
- No foreign transaction fees
- Enjoy business benefits including Year-End Summaries, employee cards at no extra cost and experienced small business customer service
Requirements, Costs & Fees
- Credit Needed: Fair
- Purchase APR: 23.99% Variable
- Balance Transfer APR: 23.99% Variable
- APR for Cash Advances: 23.99% Variable
- Penalty APR: 30.4% Variable
- Annual Fee: $0
- Foreign Transaction Fee: None
- Cash Advance Fee: The greater of either $10 or 3% of the amount of each cash advance
- Late Payment Fee: Up to $39
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