The Definitive Guide to Capital One’s Business Credit Cards

The Definitive Guide to Capital One’s Business Credit Cards

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Of all the major credit card issuers, Capital One is the only one that is still lead by its founder. Founded in 1988, it’s easily the youngest bank of its size. Perhaps that gives you some insight into its entrepreneurial nature of Capital One, and why it has such a strong line of small business credit cards.

When you’re running your own small business, you do everything you can to stretch each dollar spent, and maximize the the value you receive from each of your expenses. Capital One’s Spark line of small business credit cards allows you to earn the maximum amount of rewards possible, while minimizing your annual fees and other costs. It even offers a rewards card designed for small business owners with just average credit.

Here’s everything you need to know about Capital One’s five Spark Business cards:

1. Capital One® Spark® Cash for Business

This card offers you some of the best possible cash back available in a small business credit card. You simply receive 2% Cash Back on every purchase, every day., with no limits. It also offers new applicants Earn up to $2,000: Earn a $500 cash bonus when you spend $5,000 in the first 3 months and $1,500 when you spend $50,000 in the first 6 months of opening your account. Limited Time Offer.. The standard interest rate for this card is 18.74% (Variable). There’s a $95 annual fee for this card that’s waived the first year, and no foreign transaction fees.

Capital One® Spark® Cash for Business

Earning unlimited 2% cash back could mean thousands of dollars each year going back into your Learn More

2. Capital One® Spark® Cash Select for Business

This card is similar to the Spark Cash, but with a lower rate of rewards and no annual fee. You earn 1.5% Cash Back on every purchase, every day., with no limits. It also features $200 Cash Back once you spend $3,000 on purchases within 3 months from account opening. Finally, new accounts receive an introductory APR of 0% on purchases for 9 months, followed by a standard rate of 14.74% - 22.74% (Variable). There’s no annual fee for this card, and no foreign transaction fees.

Capital One® Spark® Cash Select for Business

Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your Learn More

3. Capital One® Spark® Miles for Business

Instead of earning their rewards as cash back, some business owners prefer to earn miles that can be redeemed for statement credits towards travel rewards. The Capital One® Spark® Miles for Business card features rewards of 2 Miles per $1 on every purchase, every day., with no limits. Miles are worth one cent each towards any travel reservation such as airfare, hotels, car rentals and cruises.

New applicants can earn 50,000 bonus miles, worth $500 in travel, after spending $4,500 on new purchases within three months of account opening. The standard interest rate for this card is 18.74% (Variable). There’s a $95 annual fee for this card that’s waived the first year, and no foreign transaction fees.

Capital One® Spark® Miles for Business

Earn 2 miles per $1 on every purchase, every day. Earn up to 200,000 miles. Earn a bonus Learn More

4. Capital One® Spark® Miles Select for Business

Like the Spark Cash Select, this card has no annual fee at the expense of slightly less rewards for your spending. You’ll earn 1.5 Miles per $1 on every purchase, every day., with no limits.  Your new account will also receive nine months of 0% APR financing on new purchases, followed by a standard rate of 14.74% - 22.74% (Variable). There’s no annual fee for this card, and no foreign transaction fees.

Capital One® Spark® Miles Select for Business

Earn 1.5 miles per $1 on every purchase, every day. Plus, a one-time bonus of 20,000 miles once Learn More

5. Capital One® Spark® Classic for Business

While all of the other Spark small business cards require you to have excellent credit, the Spark Classic is offered to those with just average credit. It doesn’t have a sign-up bonus, but it still offers you 1% Cash Back on every purchase, every day., with no limits. The standard interest rate for this card is 24.74% (Variable), and as you would expect, there’s no annual fee for this card, and no foreign transaction fees.

Capital One® Spark® Classic for Business

Enjoy no annual fee. Earn 1% cash back on every purchase, every day. Build business credit Learn More
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Which Card is Right For You?

The right card for your business will depend how you use it. If your company has modest spending requirements, then it might not be worth it to pay an annual fee to use a credit card.

For example, it would take nearly $20,000 of annual spending in order to justify paying a $95 annual fee to earn the additional half of a percent more rewards available in both the Spark Miles and Spark Cash cards. However, this calculation doesn’t take into account that the annual fees for both these cards are waived for the first year. Nor does it take into account the sign up bonuses that are worth $300 more than the Spark Miles Select or Spark Cash Select. At the same time the Spark Miles Select and Spark Cash Select feature nine months of interest free financing on new purchases, while its counterparts with an annual fee don’t.

However, the Spark Classic is clearly meant for those who have average credit due to a limited credit history, or some minor credit problem. This card is one of the rare small business cards meant for those with average credit, yet still offers some rewards.

When you take the time to look at all of the features and benefits of each of the five Capital One Spark Small Business cards, you’ll be sure to find the right one for your needs.

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About the Author — Jason Steele is an expert in the credit card industry. He is frequently quoted in national media and his work is regularly featured by mainstream outlets such as Yahoo! Finance, MSN Money, and Business Insider.

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