Capital One Business Credit Card

Monday, June 11, 2012 at 9:35pm by Site Administrator

Capital One’s Business Credit Cards

 

When it comes to business credit cards, Capital One is ranked high in its industry and with consumers. One of the largest issuers of business credit cards in the world, Capital One promotes a series of cards that are designed for specific business needs and desires. The Spark Classic lets the business owner looking to build business credit do so with no annual fee. The Spark Select has one of the lowest introduction rates in the market, if that’s what you’re looking for.

With small business in mind, Capital One offers credit cards like Spark Select and Spark Cash, designed to build credit. They have a dedicated and professional small business customer service with a quick response time. No being put on hold for extended periods or recorded messages. These representatives are trained to solve small business credit issues promptly.

 

General Information

While Capital One business credit cards have their different highlights, here’s what you can expect in general:

  • Cash advance fee of 3%.
  • Extended protection and purchase security.
  • Itemized reporting on business spending.
  • No balance transfer fees.
  • Online banking.
  • Fraud liability protection at no cost.
  • Free auto rental collision damage waiver.
  • Customize your card with your company logo.
  • Individual cards with individual spending limits.

 

The Cards:

Spark Classic

Partnering with Capital One is sensible for any small business, but if you’re starting out this is the card you may end up with. Business in a poor to fair credit range are the most likely candidates, and that probably will include start-ups that have yet to build a credit history. But there’s no reason to despair. This business credit card is designed for building creditworthiness. There’s no annual fee and 1% cash back on all purchases all the time. At 22.9%, the APR is slightly higher than the typical Capital One card.

Spark Cash

This one ranks high for annual net rewards that can total more than $400 in cash. The Spark card offers 2% back on every purchase every day. This is the highest of any other business credit card available, making this the best card for getting cash back. The purchase APR is a reasonable 13.9%, while the APR for transferring is a variable 13.9%. The first year annual fee is waived, after which you’ll be paying $59 a year.

Spark Miles Select

With an APR purchase range of 14.9% to 19.9%, this business card credit has its eye on the traveling businessman with bonuses similar to the Spark Cash card, only you’re substituting cash rewards for travel miles. The miles can be conveniently redeemed for merchandise, gift cards, travel or cash. It’s one mile for every dollar spent. At the end of the year get a 50% bonus for all miles earned. There is no annual fee or transfer on this card. You will need to have outstanding credit to get one though.

Spark Select

The Spark Select is an excellent choice if the business wishes to save money, have a low introductory rate and no fees. There’s the one mile earned for every dollar spent along with an APR that’s going to range between 9.9% and 19.9%. Your credit history will determine where you fall in the category. At the end of every year, get a 50% cash back bonus on all your earnings. These cash rewards have no ceiling and don’t expire. Plus, redeem your rewards for any amount at any time. You can even set up automatic redemptions, receiving rewards on your schedule.

Spark Miles

Double up and get two miles for every $1 spent. There’s a sign up bonus of 10,000 miles if you make $1,000 worth of purchases in the first three months of card usage. Get an additional 5,000 miles if an employee is added to your account within the first two months. Miles can be redeemed for gift cards, cash, airline tickets or merchandise. The APR on purchase and transfers is 13.9% with the APR on transfer rate being variable. This is the best card for earning the most travel miles on purchases.

Spark Cash Select

This is a solid business credit card for businesses that already have excellent credit and want the flexibility of cash rewards with no annual fee. From now until December 2012, Capital One is offering a 0% introductory APR on all purchases. Redeem cash back at your convenience or have a check automatically sent at the end of each year.

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