[Update: Some offers mentioned below have expired. You can view the current offers from our partners here — Capital One Spark Miles Select for Business, Capital One Spark Cash Select for Business, Capital One Spark Classic for Business, Capital One Spark Miles for Business and Capital One Spark Cash for Business. Disclosure: Cards from our partners are mentioned below.]
Capital One has introduced Spark, a new sub-brand of small business cards. These cards replace the popular “No Hassle” and “Venture” business card brands.
There are six new cards:
- Capital One Spark Miles for Business
- Capital One Spark Cash for Business
- Capital One Spark Miles Select for Business
- Capital One Spark Cash Select for Business
- Capital One Spark Classic for Business
- Capital One Spark Select for Business
[Resource: Get your free personalized Credit Report Card]
I’ve reviewed two of the cards for Credit.com, and so far, I like what I see. Click on the card’s name and you’ll be taken to my neurotically thorough analysis.
The Capital One Spark Miles Select for Business offers small business owners a flexible travel rewards program. You earn 1 mile for every $1 spent. On your membership anniversary each year, you’ll earn a bonus that equals 50 percent of the rewards you earned in the prior year. So you effectively get 1.5 miles for every $1 spent. No annual fee, either, so that’s not bad.
The Capital One Spark Cash Select for Business has a generous and easy-to-redeem cash back rewards program as well as excellent management tools. You earn 1 percent cash back on all purchases, plus a 50 percent annual bonus, which, again, effectively gives you 1.5 percent for every $1 spent. This card doesn’t have an annual fee, either.
I’m working my way through the rest of the cards, so check back soon for more reviews.
Note: I always warn consumers about business cards because they aren’t covered by the Credit CARD Act of 2009. But Capital One has adopted the CARD Act provisions for its business cards. This is voluntary and not legally required, so be aware that this could change without warning. But in the meantime, kudos to Capital One for taking the initiative to do this!
[Related article: 7 Things Your Credit Card Company Hopes You Never Find Out]
At publishing time, the Capital One Spark Miles Select for Business and Capital One Spark Cash Select for Business cards are offered on Credit.com product pages and Credit.com is compensated if our users apply for and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.