The Ultimate Guide to Credit Cards
Tuesday, November 12, 2019

6 Capital One® Business Credit Card Reviews

6 Capital One® Business Credit Card Reviews

credit card advice

Matt Walker
By: Matt Walker
Posted: November 8, 2019

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We’ve all heard and have come to recognize the tagline “What’s in your wallet?” It’s as familiar as “Just do it,” “Got Milk?” and other famous slogans — and it’s worked to build Capital One into a credit card powerhouse.

In fact, more than 89 million Capital One credit cards are carried in wallets around the world right now. That’s more cards than the combined populations of the three largest states in America. So, it’s no surprise that many businesses turn to Capital One for their credit needs, but are these cards worth it? Here are our Capital One business credit card reviews.

Capital One® Spark® Cash for Business Review

Best for Earning Cash Back on Business Expenses

Running a business is expensive, so you want your credit card to not only help you pay for the many expenses you incur but also reward you for your loyalty. But not all business cards reward consumers the same way.

Some may pay a large 5% cash back rate on office supply purchases, but what does that do for a company that doesn’t need lots of paper and pens? Others may give travel perks or cash back at restaurants — which helps if you do a lot of networking and business travel, but that certainly doesn’t apply to every business.

But the Capital One® Spark® Cash for Business credit card is a rare breed among business credit cards. This card pays a flat 2% cash back on all your purchases with a very competitive interest rate to match.

  • Limited Time Offer: Earn up to $2,000 in cash bonuses
  • Earn a $500 cash bonus when you spend $5,000 in the first 3 months and earn $1,500 when you spend $50,000 in the first 6 months of your account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • $0 annual fee for the first year; $95 after that
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • $0 Fraud Liability if your card is lost or stolen
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
18.74% (Variable)
$0 intro for first year; $95 after that
Excellent, Good

If you’re a retail-based business, you’re already spending a tremendous amount of money on inventory and advertising. In most cases, that 2% can add up to huge cash back rewards.

On top of the rewards, new cardholders can also earn a one-time cash bonus when they meet a minimum spending threshold on purchases within their first three months with the card. You’ll also pay no annual fee during your first year of card membership, and $95 annually each year thereafter.

Those perks alone make this card the best Capital One business card offering for cash back.

Capital One® Spark® Cash Select for Business Review

Best for Financing Startup Costs

The Capital One® Spark® Cash Select for Business credit card offers slightly smaller perks than its Spark® Cash for Business sibling, but it doesn’t tack on the annual fee.

With this card, you’ll earn an unlimited 1.5% cash back that never expires. New cardholders can also qualify for a nice cash bonus when they meet the minimum spending requirement within three months of opening an account.

BUSINESS CARD RATING

★★★★★

4.8

OVERALL RATING

4.8/5.0
  • Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • Earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Free employee cards, which also earn unlimited 1.5% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 9 months
N/A
14.74% - 22.74% (Variable)
$0
Excellent, Good

But the true beauty of this card is the 0% introductory rate as a new cardmember. This means you can finance a large purchase for your business without the worry of interest charges hurting you in the short term.

And, since you won’t incur any annual or foreign transaction fees, all the cash back you earn is essentially a bonus — and who doesn’t love a good bonus?

This card is great for entrepreneurs who are just starting their business. And since you can take advantage of an extended interest-free period as a new cardholder, this card may just be your best option for financing a large purchase.

Capital One® Spark® Miles for Business Review

Best for Earning Business Travel Rewards

If your business has you constantly on the move, the Capital One® Spark® Miles for Business credit card could have you traveling in style — with less stress on your wallet.

You’ll earn an unlimited 2X miles on every purchase, and you’ll never pay a foreign transaction fee. New cardholders can earn bonus miles after they meet the spending requirement in their first three months with the card.

BUSINESS CARD RATING

★★★★★

4.7

OVERALL RATING

4.7/5.0
  • Limited Time Offer: Earn up to 200,000 bonus miles worth up to $2,000 to spend on travel—flights, hotels and more
  • Earn 50,000 bonus miles when you spend $5,000 in the first 3 months and earn 150,000 bonus miles when you spend $50,000 in the first 6 months of your account opening
  • Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
  • Earn 5X miles on hotel and rental car bookings through Capital One Travel℠ using a Spark Miles card
  • Transfer your miles to 10+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™
  • Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
18.74% (Variable)
$0 intro for first year; $95 after that
Excellent, Good

Since Capital One allows you to redeem your miles as statement credits that “erase” previous travel expenses, you don’t have to worry about blackout dates or other restrictions that hold you back from traveling whenever — and wherever — you want to.

It’s worth noting that Capital One designed this card for consumers who have good-to-excellent credit, meaning that you should make certain you have a credit score of at least 700 before you apply for this card.

Capital One will waive your annual fee for the first year with the card. The flexible travel redemptions and high flat-rate rewards on this card make it the best option for earning business travel rewards.

Capital One® Spark® Miles Select for Business Review

Best for Earning Business Travel Rewards without an Annual Fee

If annual fees aren’t your thing, then the Capital One® Spark® Miles Select for Business Credit Card may be your best business travel card option. This card offers perks similar to those its Spark® Miles for Business sibling offers, sans the annual fee.

Since you’re saving on the yearly charge, you’ll also earn slightly fewer miles on each purchase. Still, the 1.5X miles for every $1 spent can add up very quickly. And, if you meet the minimum spending requirement during your first three months with the card, Capital One will award bonus miles to your account.

BUSINESS CARD RATING

★★★★★

4.8

OVERALL RATING

4.8/5.0
  • Earn unlimited 1.5X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
  • Earn a one-time bonus of 20,000 miles – equal to $200 in travel – once you spend $3,000 on purchases within the first 3 months from account opening
  • Earn 5X miles on hotel and rental car bookings through Capital One Travel℠ using a Spark Miles Select card
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Transfer your miles to 10+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 9 months
N/A
14.74% - 22.74% (Variable)
$0
Excellent, Good

If your business charges a lot of credit, the higher-rated Spark® Miles for Business card may offer better value. But, if you want to rack up travel rewards and you have a big purchase in your future, consider this card’s 0% APR rate over your first nine months.

This card is your best option for travel miles without the fees, oferring the chance to earn rich rewards with no annual fee or interest charges for your first few months as a new cardholder.

Capital One® Spark® Classic for Business Review

Best for Businesses with Fair/Limited Credit History

There’s nothing wrong with being a classic. After all, it worked for Sinatra and Bogart.

In the credit card world, “Classic” usually means basic. But the Capital One® Spark® Classic for Business credit card is anything but basic.

Forget the annual fees, foreign transaction charges, and other costly add-ons that other business cards feature. You won’t pay anything to add this card to your wallet. In fact, this card pays you — as long as you pay your balance in full and on time.

That’s because you’ll earn an unlimited 1% cash back on every purchase you make. That cash back feature is a rarity for most classic-style cards. You’ll also build business credit and retain fraud coverage if your card is ever lost or stolen.

BUSINESS CARD RATING

★★★★★

4.5

OVERALL RATING

4.5/5.0
  • Earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • No annual fee
  • Build and strengthen credit for your business by using this credit card responsibly
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 1% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
24.74% (Variable)
$0
Average, Fair, Limited

And, as your business grows, Capital One helps expand your finance options. This includes free employee cards, year-end summaries, and access to a dedicated team of small-business customer service representatives.

And, perhaps best of all, Capital One considers applications from entrepreneurs who have average credit, which means you could qualify for this card even if you have a credit score in the 630 range.

That makes this card our choice for best Capital One business credit card for entrepreneurs with less-than-perfect credit.

GM BuyPower Business Card™ from Capital One® Review

Best for Businesses that Maintain One or More Vehicles

At first glance, the GM BuyPower Business Card™ from Capital One® stands out as a rare vertical credit card. But you need to look under the hood to see what makes this card a real winner.

This card could work wonders if you have an auto shop or maintain a fleet of vehicles for your business. The 5% cash back on purchases of GM parts, accessories, and service at authorized GM dealers alone is a big perk, but adding 3% cash back at gas stations, restaurants, and office supply stores, and 1% cash back on all other purchases, makes this card a valuable addition to your wallet.

BUSINESS CARD RATING

★★★★

4.4

OVERALL RATING

4.3/5.0
  • 3% Earnings on purchases at gas stations, restaurants, and office supply stores; 1% Earnings on all other purchases; plus, 5% Earnings on purchases of GM parts, accessories and service at authorized GM dealers - all of which can be exclusively redeemed toward the purchase or lease of an eligible, new Chevrolet, Buick, GMC or Cadillac vehicle
  • No annual fee, no limit to how much you can earn and redeem, and your Earnings don't expire on an open Account; plus, a 0% Intro APR on purchases for the first 12 months and a variable APR of 18.74% after that
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% intro on purchases for 12 months
N/A
18.74% Variable APR
$0.00
Excellent

But this card isn’t only good for body shops and large-fleet businesses. If you maintain a company car for deliveries or business travel, you can offset several expenses with the GM cash back as well as the gas station perks.

And, since you won’t pay an annual fee, the rewards come at no cost to you. If that weren’t enough, you’ll also see no interest charges for your first year with the card — one of the longest intro APR periods in the business credit card space.

Those perks make this offering our choice for the best card for businesses that maintain one or more vehicles.

What Credit Score Do You Need for Capital One Spark Cards?

This depends greatly on which Capital One Spark® card you want to add to your business’ wallet.

GM BuyPower Business Card™ from Capital One®

The GM BuyPower Business Card™ requires excellent credit — defined by FICO as a credit score of 800+ — for approval.

Each card in the Capital One portfolio has unique acceptance standards and applicant expectations. You may not believe it, but the GM BuyPower Business Card™ from Capital One® is possibly the most difficult card on this list to obtain.

That’s because the card advertises itself as for applicants with excellent credit. By FICO standards, that means a credit score that starts at around 800 — which limits the card to roughly 20% of the American population.

The Capital One® Spark® Classic for Business card has the most flexible acceptance standards — with some reviewers reporting acceptance with personal credit scores below 600.

The Capital One® Spark® Classic for Business card typically pulls from both your personal and business credit reports to make an approval decision. This helps if you have a newer business that has yet to establish a business credit profile.

Capital One® Spark® Classic for Business

The Capital One® Spark® Classic for Business card is ideal for those with fair or limited credit history.

The other cards on this list typically accept applicants with good-to-excellent credit — which means scores that start around 670. An important factor to remember, though, is that you can possibly upgrade your card after you prove your credit responsibility. Every cardholder automatically enters the Capital One Credit Steps program, where the issuer monitors your account, and, every six months, checks to see if you qualify for a credit limit increase or card upgrade.

So, you could start out with a Classic card, but work your way into a more lucrative card offer with richer rewards and a higher credit limit. As with growing a business, everything builds over time.

Can You Get a Business Credit Card with Bad Credit?

Business credit cards are a double-edged sword. Some issuers want applicants to have established business credit scores and others base decisions off your personal credit score. Either way, most card issuers want to see at least a fair credit score or better for acceptance.

But the Capital One® Spark® Classic for Business card, for example, reportedly accepts applicants with credit scores below 590.

If you’re a sole proprietor whose credit score keeps you from adding the business credit card you need to your wallet, you may want to consider a Capital One® Secured Mastercard®.  This card offers access to a line of credit after you pay a refundable security deposit.

BAD CREDIT RATING

★★★★★

4.7

OVERALL RATING

4.0/5.0
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
26.99% (Variable)
$0
Limited, Bad

Capital One will report your payment history to the three major credit reporting bureaus — meaning that responsible usage can improve your credit rating and help you potentially qualify for an unsecured business credit card in the future.

Most secured credit cards match your credit limit to the amount of your deposit. For example, a $500 deposit will yield a $500 credit limit. But Capital One uses a sliding scale for the deposits on its secured card. While every card starts with a $200 credit limit, your credit history determines the amount of your required deposit — which will equal either $99, $149, or $200.

Capital One will monitor your account history and could grant you a credit limit increase, with no additional deposit needed, if you make your first five payments on time. Plus, you could earn a card upgrade as you improve your credit score.

Can You Have More than One Capital One® Credit Card?

Yes, you can have more than one Capital One credit card, but you can’t have more than two. That’s because the issuer limits all cardholders to two cards from its portfolio.

Like most things in life, though, there are exceptions.

Store-branded cards that Capital One issues — such as those from Kohls, Saks, and Menards — don’t count toward the two-card limit. Some cardholders also report having more than two cards because they had their cards before Capital One instituted its two-card rule in 2011.

When the rule was adopted, the issuer grandfathered those cardholders in and allowed them to keep their existing cards. This rule applies to both business and personal cards — meaning that you could receive a rejection for your business card application if you already own two personal Capital One cards.

The only other rule that may prohibit you from acquiring a Capital One business credit card is the six-month rule that will automatically reject your application if you’ve applied for a Capital One card within the last six months.

The issuer sticks to this rule regardless of your credit history and the results of your previous application — so, even if you have perfect credit and received approval on your previous attempt, you can’t add another card until you’ve surpassed six months with the new card.

Will a Capital One® Spark® Card Be in Your Wallet?

If you’re an entrepreneur who looks to see “What’s in your wallet,” and you don’t find a good business credit card, it may be time to consider one of the Capital One® Spark® line of cards. These cards offer cash back and travel miles with competitive interest rates, low (or no) annual fees, and, in some cases, extended introductory periods with no interest charges.

You’ve likely found a card that meets or exceeds your business needs if you’ve read through our Capital One business credit card reviews. That’s because the issuer goes out of its way to create a plethora of cards that resonate with all types of entrepreneurs.