Capital One® Spark® Cash Select for Business: A Comprehensive Review
If you're seeking a cashback card from Capital One, the Capital One Spark Cash Select for Business is worth considering. Below, we delve into the key features and highlights of this card.
Key Features:
● 0% APR Introductory Offer: New cardholders enjoy an attractive introductory 0% APR on new purchases for the first 9 months.
● Signup Bonus: Earn a signup bonus of up to $200 when you spend $3000 with the card.
● Competitive APRs: The card offers a variable purchase APR ranging from 13.99% to 23.99%, providing flexibility to suit various financial needs
● No Annual Fee: Ideal for those seeking a hassle-free cashback card, as you won't incur any annual fees.
● No Foreign Transaction Fee: Travelers will appreciate the absence of fees on foreign purchases, making it a great choice for international use.
● Multiple Business Perks: This card includes valuable benefits like Auto Rental Collision Damage Waiver, emergency support, extended warranty protection, purchase security, travel assistance, and fraud protection.
● Good Credit Requirement: Approval odds are higher if your credit score falls within the range of 700 to 850.
Pros and Cons:
Pros
Cons
Lower than average APRs Rewards bonus rate is 1 5% on purchases (terms apply)*
0% APR on new purchases for 9 months
No annual fee Business credit perks
Auto Rental Collision Damage Waiver Extended warranty on purchases
No foreign transaction fee
Reports to multiple credit bureaus
APRs and Fees: The Capital One Spark Cash Select for Business comes with the following APRs and fees:
● Purchase APR: Variable, ranging from 13.99% to 23.99%.
● Balance Transfer APR: Variable, ranging from 13.99% to 23.99%.
● Cash Advance APR: Variable, at 26.99%.
● Penalty APR: 29.4% (applies for a minimum of six months in case of late payments).
● Annual Fee: $0
● Foreign Transaction Fee: 0%
● Balance Transfer Fee: 0%
● Late Payment Fee: Up to $39
Rewards Program: This card does not offer a traditional cash back rewards program. Instead, it provides rewards to small business owners for every purchase made in various categories, including every purchase.
Benefits:
● Auto Rental Collision Damage Waiver
● Emergency Support
● Extended Warranty Protection
● Fraud Liability
● Travel Assistance
● Reports to major credit bureaus
Customer Service:
● Phone Number: (866) 390-5934
● Support Email: support@capitalone.com
User Experience and Ratings: Community reviews highly recommend this business credit card based on positive experiences with customer service and user satisfaction.
Credit Reporting: The card reports account activity to major credit bureaus, including Equifax, Experian, and TransUnion, offering an opportunity to improve your credit with responsible use.
Application Process: Applying for the Capital One Spark Cash Select for Business is straightforward:
Visit the Capital One website. Fill out the application form, providing necessary financial information, such as Social Security Number, address, annual income, and employment details. Verify the accuracy of your information and submit the application.
If your application is denied, the provided link offers insights into the reasons and potential steps for improvement.
In summary, the Capital One Spark Cash Select for Business is a compelling cashback card, especially for those with good credit seeking a card with no annual fee, competitive APRs, and valuable business benefits.
