Capital One Spark® Classic for Business
Capital One offers a variety of business cashback credit cards. The Spark Classic for Business is aimed at those who want to start earning rewards for their business expenses but who have not yet established the strong credit history necessary to qualify for more lucrative rewards cards.
You might find value in the card if you need credit for your business and want an opportunity to build a history with a respected financial institution. You’ll also be earning 1.0 percent back on all your purchases, so you could put those earnings back into your business.
The card comes with tools that help you manage your expenses, such as expense tracking, annual expense summaries and free employee cards. Although you won’t receive a big sign-up bonus, the fact that the card doesn’t charge an annual fee is a definite plus.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Spark® Classic for Business offers and the value of the Capital One Capital One® Cash Back Rewards cashback you earn.
The Spark Classic for Business doesn’t offer a lucrative sign-up bonus or grandiose earning potential. However, earning rewards on all your expenses is an exciting business step and a positive one. With the Spark Classic for Business card, you’ll be earning 1 percent back on all your purchases, and there is no limit to the amount you can earn.
Your employees can receive cards at no additional cost, and their purchases will also earn rewards. You’ll have access to business expense tracking tools and year-end statements. Best of all, you’ll be building your business credit history with a respected institution and setting the foundation for greater rewards credit card options in the future.
What You Get
- Apply with average credit and build and strengthen your score
- Free employee cards
- No annual fee
- No foreign transaction fees
- 1.0% cash back on all purchases
- Unlimited rewards
- No minimum to redeem
The rewards earning potential is unlimited and rewards don’t expire as long as your account is open. If you ever decide to close the account, you can easily redeem your rewards in the form of cash back, statement credits, gift cards or merchandise prior to closing.
What is the value of the Capital One® Cash Back Rewards Cashback?
The beauty of redeeming your Capital One cashback rewards earned on your Spark Classic for Business card is that the process is simple. You will receive one cent in cash back for each reward point. Rewards can be redeemed for a statement credit, or you can have a check sent to you.
The Best Ways to Redeem Spark Cashback
The best way to redeem your rewards is for cash back at one cent per point. With cashback redemptions, the money can go back into your business or help pay off your statement balance each month. Since rewards points can be redeemed for a statement credit, you can use the cash back to offset any purchase. You are not limited to certain categories, such as travel, when redeeming your rewards.
Other ways you can redeem cashback
You can redeem your rewards for gift cards from dozens of retail partners. Rates vary, however, and you may receive less than one cent per reward point in value.
Choose to redeem your rewards for cash back in the form of a statement credit or have a check sent to you. One reward point is worth one cent in cash back.
Earning rewards on everyday purchases with your Spark Classic for Business card is simple as you’ll receive 1.0 percent cash back for every purchase. No need to keep track of special categories, bonuses or promotions. There is also no limit on the amount of cash back you can earn.
Earning 1.0 percent cash back may not seem like much, but the fact that you’re earning rewards and building your credit history at the same time has value. And, you’ll be able to put that cash back you earn back into your business.
Your Monthly Charges
Rewards You Will Earn Annually$240cashback
- Car Rental
- All Other Purchases
The Spark Classic for Business card can be used worldwide as it incurs absolutely no foreign transaction fees. You’ll also receive discounts on various travel purchases with Visa SavingsEdge.
No Foreign Transaction Fees
There are no foreign transaction fees charged on purchases made outside of the United States.
Receive discounts on dining, car rentals, hotels and parking with this free cardholder benefit.
Earn Elite Status Fast
The Spark Classic for Business is not affiliated with any hotel or airline loyalty program, so it does not offer a path to earning any elite status.
Fees: the cost of Having the Card
The benefit of a no annual fee credit card is that you do not have to spend a specific amount each year to offset that fee. The Spark Classic for Business is one of those cards you can keep forever as you’ll never have to worry about paying an annual fee.
- Annual Fee
- Foreign Transaction Fee
- Late Payment Fee
- Up to $39
The Spark Classic for Business is a no-fee card. You do not have to earn a certain amount of rewards in order to cover the cost since it’s free. It’s still good to know roughly how much you’ll be earning, though. We’ve broken out our estimates for the first- and second-year net earnings.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Spark Classic for Business
Start building your credit history with this Capital One Spark Classic for Business no-fee card and earn rewards on all of your purchases. Additional free employee credit cards help you keep track of purchases and earn rewards even faster. And when it comes time for redemption, getting cash back is easy.
- No Annual Fee: You can keep the card for as long as you want without having to pay an annual fee.
- Earn Rewards on Every Purchase: You’ll receive 1.0% cash back for all purchases with no special categories or promotions to keep track of.
- Free Employee Cards: Earn more and manage your business effectively with additional employee credit cards at no extra charge.
- Simple Redemptions: Redeem your rewards for cash back at any time.
- Build a Strong Credit History: Capital One is a respected card issuer. Building a positive credit history will help you to qualify for other, more rewarding credit cards.
Should You Get the Spark Classic for Business?
If you own a business but your credit history is not strong enough to secure the most lucrative credit card offers, the Spark Classic for Business can serve the purpose of helping you build credit with a respected institution. Plus you’ll be earning rewards in the process.
Capital One issues a variety of business credit cards that you may subsequently consider as you establish a positive credit history and as your business grows. Since the card doesn’t have an annual fee, you can keep it indefinitely, thereby adding years to your credit history and potentially improving your credit score.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- The Spark Classic for Business offers benefits that can support your business, including additional free employee cards, online tools to keep track of purchases and year-end statements that organize your expenses.You’ll also receive basic Visa-level benefits, including a car rental collision damage waiver, emergency assistance, travel discounts with Visa SaversEdge, fraud protection and purchase protection. Additionally, the Spark Classic for Business can serve the purpose of helping you strengthen your business credit history.
- What type of rewards do I earn on the Spark Classic for Business card, and what can I redeem them for?While you’re earning only 1.0 percent cash back on every dollar you spend on the card, you’ve at least taken a positive step forward by earning rewards on your business expenses. Over time, this decision could equate to a lot of dollars coming back into your business.You are not limited to certain categories for redemptions; you just redeem your rewards easily for cash back at any time as long as your account is in good standing. While additional options for redeeming rewards include gift cards and merchandise, you may receive less value.
- While the simple answer is no, you are not required to pay off your Spark Classic for Business card each month, you will incur significant interest charges if you don’t. The annual interest rate is 23.99 percent, and it can change throughout the period you hold the card. It can soar to over 30 percent if your payment is late.Pay the entire new balance by the due date and you will not be charged any interest. You will also earn rewards on every dollar spent as long as you pay the minimum required payment each statement period.
Capital One offers a good line up of business cashback cards that earn a fixed reward rate on every dollar spent without the need to keep track of special categories or promotions. All of these cards also offer free employee cards, which can help you manage business expenses. None of the cards below charge foreign transaction fees.
Other Capital One Cashback Business cards
|Spark® Cash for Business|
|Annual Fee||$0||$0||$0 first year, then $95|
|APR On Purchases||13.99% to 21.99% Variable±||23.99% Variable±||17.99% Variable±|
|Second Year Value||$360||$240||$480|
When you compare annual fees, the
You’ll earn cash back at the rate of
If you’re just starting out, and your credit history isn’t strong, the
Compare Spark Classic for Business Credit Card to Other Cards
All of the cards below are essentially cashback cards that give you a percentage of your purchases back as a reward. The earnings on your purchases result in cash back to your monthly statement, and since statement credits are literally the same as cash, you’ll be effectively reducing the ongoing expense of doing business with any of these cards.
- Business Advantage Cash Rewards Mastercard®
$200 statement credit bonus
- SimplyCash® Plus Business Credit Card
5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providersRead Review
- The Plum Card®
1.5% Early Pay Discount with no cap or Extra Days to Pay with no interestRead Review
The Plum card issued by American Express is the only card above with an annual fee, and it is $250. It is not a rewards earning credit card, but it does have other benefits. If you pay your balance in full each month, you’ll receive a 1.5 percent discount, or you can take 60 days to pay off the balance with no interest. For the business owner who needs short-term, interest-free credit, the card could offer value that the Spark Classic for Business doesn’t. The fee is waived the first year, but after that, you’ll have to find the interest-free benefit valuable enough to justify the $250 fee.
When it comes to earning rewards, the cards vary in potential. The Simply Cash Plus Business card by American Express fares well on earnings with 3 to 5 percent back on business categories, such as office supplies, wireless phone, computing, advertising, shipping and more. It also has no annual fee and a decent sign-up bonus. The card could be a good fit for the business owner with significant expenses in any of these categories. Cash back is applied automatically to each monthly statement.
The Cash Rewards for Business MasterCard issued by Bank of America also has no annual fee and earns 3.0 percent cash back on gas and restaurants, 2.0 percent on restaurants and 1.0 percent on all other purchases. A $200 sign-up bonus after spending $500 sweetens the deal. Business owners who are road warriors may find value in this card.
The bottom line for the Spark Classic for Business card is that it can serve the purpose of helping a business owner start earning rewards while affording some credit to help the business grow. It doesn’t compete with more lucrative business cards, but it may be a good fit for a business owner wanting a no-fee card and desiring to establish a credit relationship that ultimately qualifies them for cards with larger sign-up bonuses, better earning potential and greater redemption options.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Spark Classic for Business, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this Visa card.
- Intro APR:
- See Terms and Conditions
- Intro APR for balance transfers:
- See Terms and Conditions
- Ongoing APR:
- 23.99% Variable±
- Minimum Grace Period:
- 25 days
- Extended Warranty Protection:
- The original written U.S. warranty on eligible products is extended up to 1 additional year on warranties of up to 3 years. There is a limit of $10,000 per claim and $50,000 per cardholder.
- Purchase Protection:
- Purchase Protection: Eligible items purchased with your Spark Classic for Business card are protected from theft or damage for 90 days.
- Visa SavingsEdge:
- Unlock automatic savings at dozens of retailers with Visa SavingsEdge, a program that gives you discounts just for using your card.
Cash Advance Features
- Ongoing APR:
- 23.99% Variable±
- Cash Advance Fee:
- Either $10 or 3% of the amount of each cash advance, whichever is greater
Security and Protections
Be alerted when unauthorized charges are made on your account and gain peace of mind with $0 fraud liability if your card is lost or stolen. Make purchases worldwide with confidence as your card will be accepted at all chip-enabled terminals.
- Account alerts:
- Be notified if unusual transactions appear on your account by setting up custom account alerts. You can also set up an alert to remind you that a payment is due on your account.
- $0 Fraud Liability:
- You’ll never be responsible to charges made on your card if it’s lost or stolen.
- Chip Technology:
- Your card is accepted globally and with an extra level of security at merchants with chip-enabled terminals.
The Capital One Mobile App helps you manage your Spark Classic for Business card account on the go, and the Capital One Wallet facilities convenient digital payments.
- Capital One Mobile App:
- Keep track of transactions, balances and payments on the go.
- Digital Payments:
- Download the Capital One Wallet and enjoy the convenience of digital payments from your IOS or Android smartphone.
Additional Cardholder Benefits
The Spark Classic for Business card comes with basic Visa Business-level benefits, including rental collision damage waiver and emergency referral assistance.
Visa Signature Travel Benefits
- Auto Rental Collision Damage Waiver:
- Cardholders receive coverage on most rental cars. In the U.S., coverage is secondary to your personal insurance. For rentals abroad, coverage is primary.
- Travel and Emergency Assistance Services:
- Count on 24/7 assistance while traveling with emergency referrals for ticket replacement, legal services, medical referrals and other travel and emergency assistance. The cardholder is responsible for applicable charges.