Credit Cards

Capital One’s New Spark Business Cards

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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

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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 may be compensated if our users apply for and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

  • jennifer ladner

    i have a reservation# and access code where to fill out for a sparks business credit card

  • donald w. bevis

    How about just giving us a CLEAR site where we can just pay our credit card bill without having to wade through several sites of propaganda before finding our site to pay our bills?

  • Barry

    My 16 year old company spends a lot on hardware each month and I was anxious to start banking some rewards for all these purchses. So I signed up for the capital one Spark Business card. I have had the card less than a week and the experience so far has me wanting to close my account – but now capital one will not let me.

    On the very first transaction, they declined the charge and froze the account. I had to call them and they said the transaction I made was ‘suspicous’ and so they locked the entire account. I had to personally confirm to them that the charge is authorized before they would unlock the card.

    Two days later I login to pay the balance in full (because the credit line is ridiculously small) and I’m surprised to find the account is locked out again! I had not even made any charges. So I call them up again and now they are implying it is me who is committing fraud against them! I was not aware people who commit fraud actually pay their bills. In any case, they wanted me to fax my drivers license and social security card. I personally have not seen my social security card since I was ~16 years old. I know the number but have no idea where that card is. anyway I told them that and they said to fax in a W2 instead.

    This was after I got done telling him I am the owner of this business. Needless to say, business owners do not give themselves W2’s.

    So instead I told them to just close the account and I will take my business to a bank that values it. They told me they can’t until I fax in my personal documents.

    That is not happening and so now I am stuck with a capital one card that I do not want and they refuse to close.

    • Beverly Blair Harzog

      Barry–What a frustrating experience! If Cap One froze the account because they thought fraud had occurred, then your call should have cleared things up. Do not fax your social security card or any other personal information. I suggest calling customer service again and ask to speak with a supervisor. Keep going up the food chain until you find someone who can cut through all this nonsense.

      The situation may be salvageable (if they apologize to you!). If they resolve the frozen account issue to your satisfaction, ask them to increase your credit limit if they want you to stay. It might not work, but it doesn’t hurt to ask if you think this relationship can work out. At any rate, you should be able to close your account over the phone. I’d love to know what happens next if you like sharing the information!

  • Barry

    thank you for the follow-up. my time is just too valuable to be dealing with this. Still, I called them once again and they now insist on me faxing a bank statement. Despite the on/off relationship I have had with them over the past 10 years, they are still accusing me of fraud. What is most irritating is they say this is to protect me when in fact we know it’s to protect them. I would respect them more if they would just say it how it is.

    anyway I faxed them a wire transfer receipt detailing a credit to our account. With all the data security breaches, I don’t trust these guys to have too much information and so that is all they are getting.

    I will update you how it goes. I told them “if this is not enough then close the account, and if you will not do that then I will have a judge order you to.”

    Really poor service from capital one. I don’t remember it being this bad with my other card years ago.

    thank you

  • Barry

    This will be my final follow-up unless capital one drastically changes their tune. First, thank you Beverly – I took your advice and called them. They again insisted I fax in bank statements. I had a wire transfer receipt on my desk still from a payment we made to a vendor so I faxed that and the block was lifted in probably under an hour. (It seemed to get their attention when I told them about your blog) Unfortunately, it does not end there…

    This card has a limit that is 1/7 of my other card. And my other card I max out and pay each month too – I own a 16 year old online service provider – we buy a lot of hardware each month! anyway, so I made another purchase which maxed out the card – again. waited 48 hours for it to actually ‘post’, so I could make a payment to get the credit line back. I was finally able to make the payment yesterday, which I did for the full balance of ~ $1900. Today I notice the payment has posted and the funds were taken via ACH from one of our checking accounts. great….only no credit line open??

    I go into live chat, which is by the way a liveperson.net system and open to a x-site scripting vulnerability, so I am not inclined to give them very personal details even though they insist for name, SSN, address, etc.. anyway we get past that part and she tells me:

    “Although your payment has been posted to your account, funds are not immediately released. This hold period is based on the time funds take to be received from your bank and cleared at Capital One.”

    I told her the fund were already ach from my checking account. she then tells me:

    “After reviewing your account, it appears that a temporary hold in the amount of $1,951.15 has been placed on your available credit for 5 calendar days.”

    this card is just not worth the rewards. the credit line is ridiculously small and they treat you like a criminal.

    • Beverly Blair Harzog

      Barry–Thanks for letting me know what’s going on. What a nightmare for you! If you have further updates, I’d love to hear about it. You can even send the latest update directly to me: Beverly@credit.com. If this saga is still going on, perhaps I can help.

      I hear you about the rewards. If you’re not being treated well, it isn’t worth it. There are many banks who would appreciate your business.

  • Tom

    I had a capital one venture business card last year and my wife had one also since she does marketing for our business. We continually got “fraud” denials when using the card for small amounts and were never near the credit limit. The last straw was when we bought a tank of gas for each of our cars and then tried to buy a third tank of gas the same weekend –all at the same station 1/4 mile from our house. They denied the third tank of gas. When I asked them why they said buying 3 tanks of gas (on 2 different cards) on the same weekend was a sign of fraud. The only fraud here is being commited by Capital One in saying they are providing a functional business credit card. We cut the cards into little pieces one month after we got them. I have never experienced this from any of the other cards I have ( Chase MC, Citibank Visa, Wells Fargo Visa ). Of course, they don’t have rewards, but I can’t stand the hassel of using Capital One. The main reason I use a business credit card is to keep track of business expenses for my tax return and I expect the card to work when I want to use it.

  • Pingback: Capitalone bussinesscard | Selvaganesh

  • Laurie Davis

    We have had Bank of America Visa for our business for a number of years. We just received the Spark Visa and believing it was simply a replacement for our old card, expiring soon, we activated it. Now I discover that it is ‘free’ for the first year, but $59 a year after that. I am appalled that we have been duped. We cancelled our longstanding American Express because the annual fees became far too high. Now I have this problem, having destroyed the old card and not committed to using Spark due to what I believe was fraudulent behavior on behalf of Bank of America.

    Am I correct in thinking that because we initialed these cards, we are now obligated? I feel quite angry about this and wonder what is happening to the banking industry today.

    • Credit.com

      A credit card issuer cannot issue a credit card and open an account without your permission or prior authorization, to do so would be illegal. If this happened, we’d strongly advise contacting a consumer law attorney to see if you have a case. If the issuer acted inappropriately, you can also file a complaint directly with the Consumer Financial Protection Bureau at http://www.consumerfinance.gov

      If you’ve activated the card, the account is now open so you’re legally obligated to pay the annual fee. You might try contacting the issuer directly and explaining the situation to see if they might work with you on the annual fee. Otherwise, the only way to get out of the annual fee is to close the card. I wish we could offer more helpful advice but unfortunately, this is where reading the fine print is crucial. In most cases, with annual fee credit cards, the issuer will waive the first year’s fee when you open the account, which sounds like what happened in your case.

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