You won’t earn many rewards with this card. However, it reports your activity to business credit bureaus, so you can use it to improve your business credit. Some other business cards don’t do this, so it’s a nice feature to have.
Although it’s not the most rewarding card, you only need average credit to be approved. Along with the lack of annual fee, it’s free to use as long as you keep up your monthly payments. For small business owners with average personal credit, this card can be a good option for you to improve your business credit while earning some cash back in the process.
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Capital One Spark Classic for Business Summary
Earning & Redeeming Cash Back
The Spark Classic for Business rewards program is very basic. Other credit cards will offer better rewards, but those require good to excellent credit. You earn an unlimited 1% cash back on all purchases. Your cash back will not expire as long as your account is open.
If you happen to have another Capital One card available, you can transfer your rewards between this one and that one.
Redeem your cash back earned as a statement credit or a check. Statement credit is usually the easiest way to redeem.
You can also use Capital One’s automatic redemption option. This automatically redeems your cash back at either a set time every year or when it reaches a specified threshold.
The other methods — redeeming for gift cards, and other expenses — are subject to change and won’t always grant the full value of 1 cent for every 1 cent you’ve earned. So, it’s usually best to just redeem for statement credits.
Spark Classic for Business Cardholder Perks
Although the Spark Classic for Business doesn’t offer a welcome bonus or high cash back, it does come with some valuable perks.
- Reports to Business Credit Bureaus: Your activity is reported to business credit bureaus. Most business cards don’t report your regular activity to either business or personal credit bureaus. Instead, they only report to the personal credit bureaus when you perform a negative action, like a late or returned payment.
- Quarterly and Year-End Summaries: Simplify accounting and taxes with free custom, itemized reports of your spending.
- Free Employee Cards: Get an unlimited amount of cards for your employees. Earn cash back every time they use them. Plus, you can set individual credit limits.
- Visa® SavingsEdge: Get up to 15% off at merchants when shopping through the Visa SavingsEdge shopping portal. Find gas, hotel, restaurant, office supply, tech deals and more.
- Purchase Security: Eligible purchases made with the card are covered against damage and theft for 90 days. Reimbursement is available up to $10,000 per claim, $50,000 per cardholder.
- Extended Warranty: For eligible purchases, this benefit doubles the time period of the manufacturer’s warranty. It applies to warranties of three years or less, and up to one additional year can be added. Warranties are covered up to $10,000 per claim, $50,000 per cardholder.
- Auto Rental Collision Damage Waiver: Get coverage for automobiles rented with your card against damage and theft when you decline the rental company’s insurance. Receive primary coverage if you rent for business or commercial purposes. Receive secondary coverage if you rent for personal use.
- Travel and Emergency Assistance: Call the number on the back of your card for emergency assistance. You’ll be connected with local emergency services, including medical and legal referrals, emergency transportation, lost luggage location, and more.
While it isn’t the most rewarding, the Capital One® Spark® Classic for Business is a pretty balanced card overall. For those with average credit, the Spark Classic may be one of the only options if you’re looking for a credit card for business spending.
As a card, you shouldn’t expect great rewards and premium benefits. Nonetheless, it does offer some good basic perks. The 1% cash back is better than nothing. In addition, you can have as many employee cards as you need to earn spending rewards. There are also some basic financial and account management features to help keep everything organized.
It’s a simple card, but if you want to improve your business’s credit while earning some cash back too, this card provides a way. Your business card activity is also reported to more business credit bureaus than most other card issuers. Thus, you’ll have more chances for them to see how well your credit has been. If your credit is good and you’re looking for better rewards or a personal card, you can check out Credit Card Promotions from Capital One today!
Learn more about this card and find out how you can apply here.
Other Credit Cards To Consider
No-Annual-Fee Business Card Alternatives:
The Chase Ink Business CashSM Card offers $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
You'll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, & % cash back on all other card purchases with no limit to the amount you can earn.
This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost & the 0% introductory APR for 12 months on purchases.
The Ink Business UnlimitedSM Credit Card offers $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
You'll earn an unlimited 1.5% cash back on every purchase made for your business and you'll receive employee cards at no additional cost.
This card carries no annual fee and you'll have the opportunity to take advantage of a 0% introductory APR for 12 months on purchases
The American Express Blue Business CashTM Card offers up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
You'll earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power§.Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
This card comes with no annual fee (See Rates & Fees).
The Blue Business® Plus Credit Card from American Express offers Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
You'll get rewarded for business as usual. Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners.
You'll earn 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. You can enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*. You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
More buying power allows for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
There card comes with no annual fee (See Rates & Fees).
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers:
• Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks.
• HSBC Bank Offers. HSBC Bank routinely has offers for several of their Personal Checking and Business Checking accounts. They also have a good referral program.
• Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account.
• Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs.
• TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available.
|Chase Business Checking||$300 Cash||Review|
|Chase Total Checking®||$200 Cash||Review|
|Chase SavingsSM||$150 Cash||Review|
|Chase Private Client||$2,000 Cash||Review|
|HSBC Premier Checking Member FDIC||$450 Cash||Review|
|HSBC Premier Checking Member FDIC||Up To $600||Review|
|HSBC Advance Checking Member FDIC||$200 Cash||Review|
|HSBC Advance Checking Member FDIC||Up To $240||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Huntington 25 Checking||$500 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
|Axos Bank Basic Business Checking||$100 Cash||Review|
|Ally Invest||Up to $3,500 Cash||Review|