Capital One just launched its new lineup, the Capital One Spark business credit cards. No longer Venture Business and so forth, the Spark cards still remain among the best options for small business owners. The suite of six cards is headlined by two standout offers: the Capital One Spark Miles and Capital One Spark Cash. The cards offer solid rewards rates across all purchases, plus a few low-interest perks for those businesses using credit cards for working capital.
Before we detail the cards individually, we’ll talk about what Capital One has to offer on all its cards. It charges no foreign transaction fee, key for business travelers. It also offers quarterly and year-end statements that categorize expenses, and the option to personalize the card with your business’ logo.
It’s also worth noting that Capital One has voluntarily adopted the CARD Act protections, which apply only to personal cards, for its business credit cards as well. This means you’re protected from unannounced and sustained interest rate hikes, among other practices. In a time when many issuers push regular consumers to use business credit cards because they’re unregulated, Capital One’s voluntary acceptance speaks well of them.
Meet the team
Capital One Spark Miles for Business
The first, the Capital One Spark Miles, is like the Venture Business, and has one of the highest rewards rates in the business. It gives 2 miles per $1 spent on all purchases, plus up to 15,000 bonus miles upon signup (10,000 when you spend $1k in 3 months, 5,000 when you sign up an employee). Our opinion of this is the same as our assessment of the Venture Business: it’s flexible, it earns a lot of rewards and it’s a darn good choice for any business that travels with any frequency. Its annual fee of $59 is waived the first year, and it pays out in No Hassle Miles, which allow you to redeem for any travel expense as a statement credit. All told, it’s one of the best small business credit cards out there.
CapOne Spark Cash for Business
The Spark Cash replaces the Business No Hassle Cash Premier, and is more or less the same as the Spark Miles, except that it earns cash back rather than No Hassle Miles. You earn 2% cash back on all purchases, plus $150 as a signing bonus, with the same requirements as the Spark Miles. It’s versatile, and cash back is the easiest form of rewards to use, so for businesses that don’t travel as much, it’s an equally solid option.
Spark Miles Select for Business
The Spark Miles Select for Business replaces the Business Platinum, earning what amounts to 1.5% rewards: 1 mile per $1 spent on all purchases, plus a 50% bonus on all your points, spent or unspent, upon your anniversary. It’s more friendly to businesses looking for capital: it offers no interest on purchases until April of 2012, and has no annual fee. Unlike the two cards above, however, it has no signup bonus.
Spark Cash Select for Business
The Capital One Spark Cash Select for Business replaces the Business No Hassle Cash Premier. It’s the same as the CapOne Spark Miles Select, except that it earns cash back.
Spark Select Business
The CapOne Spark Select Business replaces the CapOne Business Platinum Preferred, and earns 1 mile per $1 spent on all purchases. It has no annual fee, and offers 0% interest on purchases for 9 months, but has no signup bonus.
Capital One Spark Classic
The Capital One Spark Classic is equivalent to the CapOne Business No Hassle Cash and earns 1% cash back, but has no signup bonus or 0% intro APR. It’s a better option if your business can’t qualify for the Capital One Spark Cash, but compared to the other offers it’s not nearly as exciting.
Check out our full list of small business credit cards for the best deals!