Offer status
The Capital One Spark 1% Classic Card is unavailable on The Ascent. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
Capital One Spark 1% Classic Card is a credit card designed for business owners with average credit. We think it's a solid card to consider, particularly for cardholders seeking an entry-level business card to better establish their credit histories. You can even earn rewards while you do so. See our detailed Capital One Spark 1% Classic Card review to find out if this is the right card for your business.
Ratings Methodology
Capital One Spark 1% Classic Card
Rating image, 3.75 out of 5 stars.
3.75/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 3.75 out of 5 stars.
3.75/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Credit Score:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Poor
Fair
Good
Excellent
300-579
580-669
670-739
740-850
Credit ScoreFalling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Fair/New to Credit Under(669)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
29.99%, variable
Annual Fee
$0
Welcome Offer
N/A
For businesses or borrowers with fair credit, this card is a winner. Purchases earn unlimited 1% cash back, plus it includes a $0 annual fee. These perks are rare for cards in this credit score range.
- Flexible credit score requirements
- Cash back on purchases
- No annual fee
- No foreign transaction fee
- No rewards
- No intro APR offer
- Earn unlimited1% cash back for your business on every purchase, everywhere, no limits or category restrictions.Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- 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 purchases
- Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
- No foreign transaction fees
The Capital One Spark 1% Classic Card is unavailable on The Ascent. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
Our Top Business Credit Card Alternate Options
We recommend comparing options to ensure the card you're selecting is the best fit for you and your small business needs. Not all cards are the same and not all businesses have the same needs. To make your search easier, here's a short list of standout business credit cards that we feel offer a lot of value to a wide range of businesses.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
Ink Business Cash® Credit Card Apply Now for Ink Business Cash® Credit Card OnChase'sSecure Website. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Earn up to $750 bonus cash backEarn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. | Earn 5% cash back in select business categoriesEarn 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. | Intro:0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A Regular:18.49% - 24.49% Variable | Apply Now for Ink Business Cash® Credit Card OnChase'sSecure Website. |
Ink Business Unlimited® Credit Card Apply Now for Ink Business Unlimited® Credit Card OnChase'sSecure Website. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Earn $900 bonus cash backEarn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. | Earn unlimited 1.5% cash back on every purchaseEarn unlimited 1.5% cash back on every purchase made for your business | Intro:0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A Regular:18.49% - 24.49% Variable | Apply Now for Ink Business Unlimited® Credit Card OnChase'sSecure Website. |
Full Capital One Spark 1% Classic Card review
This credit card is a good fit for: Business owners with average credit who want to earn rewards without paying an annual fee.
Top perks
The perks for this card are limited, but they're worth noting.
Accepts business owners with fair credit
Capital One offers many business credit cards, but the Capital One Spark 1% Classic Card is the only one specifically designed for business owners with fair credit histories. Keep this in mind as you read the rest of this card review -- and this section in particular. While some of these perks may not seem competitive with the industry's best business credit cards, they are strong for a card geared toward fair-credit borrowers who need to build credit.
Unlimited 1% cash back
Credit-builder cards are often stingy on the rewards, but having some rewards is definitely better than having no rewards. Capital One Spark 1% Classic Card cardholders enjoy a flat 1% cash back rewards rate on spending. Cash back is unlimited, with no monthly, quarterly, or annual caps. And employee cards earn the same 1% cash back rate on card purchases. Cash back rewards also don't expire, as long as the account remains open and in good standing.
No foreign transaction fees
Whether they're on the road or simply paying a bill from a foreign vendor, Capital One Spark 1% Classic Card cardholders don't have to pay foreign transaction fees. In contrast, some cards charge as much as 3% for payments in foreign currencies, or payments that route through foreign banks. This can tack on as much as $60 on purchases of $2,000, an extra fee that really adds up if you make frequent purchases from overseas suppliers.
Learn more: Best No Foreign Transaction Fee Credit Cards
$0 annual or employee card fees
Credit cards tend to charge annual fees -- either to make up for expensive perks, or to make up for high-risk cardholders. Many credit-building cards fall into the latter category. However, the Capital One Spark 1% Classic Card is a fair-credit card that doesn't charge an annual fee, a nice perk, especially since the card also earns cash back.
Employee cards also carry no annual fees. You can assign, track, and set spending limits for employee cards. Purchases on employee cards earn 1% cash back, too.
Learn more: Best No Annual Fee Credit Cards
What could be improved
This card has its drawbacks, though none are unusual.
No sign-up bonus
This card is geared toward business owners with lower spending needs and credit scores, which generally means fewer rewards perks. So, while the Capital One Spark 1% Classic Card does earn purchase rewards in the form of 1% cash back, it's noticeably lacking a sign-up bonus. A big part of the value in rewards credit cards is the bonus, so the lack is a big drawback. However, this seems to be par for the course with cards for average credit.
No 0% intro APR offer
The card doesn't offer an introductory rate on purchases or balance transfers. Top 0% intro APR cards offer no interest for a year or more, which can really help with large purchases paid off over time. Given the Capital One Spark 1% Classic Card's focus on business owners with average credit, we'd see a 0% intro APR promo as a big perk, even if it was just for a few months.
That said, few cards for lower credit score profiles come with intro APR deals, and many users will likely get more benefit from the Capital One Spark 1% Classic Card's 1% cash back and its lack of foreign transaction fees.
Personal guarantee required
If you're looking at the Capital One Spark 1% Classic Card, you likely have credit that needs a little work. But why does personal credit matter for a business credit card? The personal guarantee is why. That's a clause in your contract that says you, as the business owner, agree to be as liable for your card account as your business itself is. In other words, if your business can't pay its card debt, you are personally responsible for paying the balance. If you default on your business card, your personal credit could be at risk.
High interest rate
The Capital One Spark 1% Classic Card has a higher-than-average APR on purchases and balance transfers. And that APR isn't dependent on your qualifications. Like the rate on most credit cards, it varies based on the prime rate, but there's no range of potential APRs; everyone gets the same high APR. While a high APR isn't unexpected for a fair-credit card, this means carrying a balance can get expensive quickly.
Suggested credit score
For the best chance of approval, you need to have at least fair credit, which typically means a FICO® Score of 580 or higher. This card is one of few business credit cards with such lenient credit requirements. That said, your credit score isn't the only variable Capital One considers. The bank looks at your entire credit history. Your business's credit history, revenue, and how long it's existed also play roles.
The Capital One Spark 1% Classic Card is right for you if:
The Capital One Spark 1% Classic Card doesn’t have quite as many perks and rewards as its Capital One siblings or many competing business credit cards, but it serves a valuable purpose. Not many other business credit cards welcome applicants with fair credit, and offer rewards without charging an annual fee. So if you have business income and need to work on your credit, the Capital One Spark 1% Classic Card could be worth a look. If you have good credit and want a more rewarding option, take a look at our list of credit card reviews for a better fit.
Our credit card methodology
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
FAQs
The exact amount a consumer is approved for depends on criteria like income, credit score, payment history, and other factors determined by Capital One. The minimum credit line is $300, though.
No, the Capital One® 1% Classic Card is not a metal credit card.
This card is a Visa.
