If you’re interested in a Capital One Business Credit Card with no annual fee, this Spark Business Card may be worth considering–
Small business owners can get the equivalent of an interest-free loan for the first nine months as a Spark Cash Select cardholder (as long as you avoid late payments and pay your entire balance before the promotional period ends.)
Who is the Spark Business Card for?
The Spark business card is an option for a first-time small business owner.
It’s a business credit card designed for startups because of its 0% introductory APR and ongoing cashback rewards.
The Spark card is also suited for companies that make lots of overseas purchases or whose purchasing habits aren’t concentrated in a few categories since this card has no foreign transaction fees and simple cash-back rewards that don’t vary by spending category.
With no annual fee and a sign-up bonus worth $500 after spending $4,500 in your first three months as a cardholder, the Spark Cash Select Visa is among the best credit cards for small business owners.
Our comprehensive small business credit card reviews make it easier than ever to identify the right features for your business needs.
Learn more about How to Compare Business Credit Tools
Spark Business Card – Cash Select Visa Review of Benefits
Score on the Spark Business Card sign-up bonus
The Spark Cash Select Visa credit card offers $500 cashback when you spend $4,500 on purchases within three months of opening your account.
Balance transfers, cash advances, and other non-purchase transactions do not count toward earning the bonus, nor do they earn ongoing cashback rewards.
Earn rewards on employee cards with the Spark Cash Select Business Card
With their consent, you can add employees to your account as authorized users at no charge.
You’ll earn rewards on your employees’ purchases, too.
0% introductory APR
You’ll pay no interest on purchases for the first nine months.
After that, the APR is 14.49%, 18.49%, or 22.49% variable based on your creditworthiness and the prime rate.
You may lose your introductory rate and have to pay interest at your non-introductory rate if Capital One receives your payment three or more days after it’s due.
Capital One Spark Business Rewards
Earn unlimited 2% cashback on every purchase with no minimum to redeem.
Cashback is available as a statement credit or a check and can be redeemed online.
The Capital One Spark Cash Select Visa’s simple cash-back rewards mean you don’t have to worry about the redemption value of points.
Rewards never expire as long as your account remains open, but you will lose any unredeemed rewards if you close your account.
No foreign transaction fees with this Capital One Business Credit Card
This card has no foreign transaction fees, making it one of the best business credit cards for travel and for businesses that frequently place orders from overseas companies.
Spark Business Card – Cash Select Visa Review of Drawbacks
Limited eligibility
Existing or previous account holders who have already received this bonus may not be eligible; it is a one-time bonus.
Businesses that have applied for a Capital One card two or more times in the last 30 days, that have five or more open Capital One credit card accounts, that are past due on any Capital One account, that are over their credit limit on a Capital One card, that have a Capital One card that was charged off in the last year or that have an unresolved bankruptcy are not eligible for this offer.
Personal liability
The business owner who applies for the Spark Cash Select Visa credit card is personally responsible—individually, jointly, and severally with the company—for all balances owed on the card, including balances accrued by authorized users (employees).
Compare the Spark Business Card to the Capital One Spark Classic
Spark Business Card – Cash Select Visa Details
Card use: Business purposes only.
Balance calculation: average daily balance method, including new transactions.
Grace period: no interest will be charged from the time of purchase until the due date, which will be at least 25 days after the close of the billing cycle, if you do not carry a balance.
There is no grace period on balance transfers or cash advances.
*If you carry a balance, interest accrues from the date of each purchase, balance transfer, or cash advance.
Purchase APR: 0% fixed for the first 9 months that your account is open, then 14.49%, 18.49%, or 22.49% variable based on your creditworthiness and the prime rate.
Penalty APR: 30.9%.
Balance transfer APR: 14.49%, 18.49%, or 22.49%, based on your creditworthiness and the prime rate.
Balance transfer fee: none.
Cash advance fee: $10 or 3% of the amount of each cash advance, whichever is more.
Cash advance APR: 24.49% variable, based on the prime rate.
Late payment fee: Up to $39.
Typical credit access line: at least $2,000.
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