silikonsam.blogg.se - Spark capital

While that rate is underwhelming compared with some of the best business credit cards on the market, it’s something at least. The Capital One Spark Classic offers a flat 1% cash back on every purchase you make. It’s also a decent choice for use abroad, since it doesn’t charge a foreign transaction fee, typically of 3%, that many cards impose on purchases made outside the United States. It provides secondary rental-car insurance coverage, for example, and travel assistance when you’re away from home. Since it lacks an annual fee, Capital One Spark Classic is also an economical choice for those who seek credit-card travel pluses that might otherwise cost you when taking a trip. Having the funds available to pay off what you charge to the account every month and making timely payments will help achieve the goal of building a fine credit record. The card is especially worth considering for business owners who don’t anticipate often (if at all), carrying a balance on the card, which could hurt both their personal credit score and that of their business. Its 1% cash-back rewards are nothing to crow about, but this card mainly provides the opportunity to acquire a credit line while also building a credit history that could help you to graduate to more rewarding alternatives. The Capital One Spark Classic is a solid option for small business owners with limited or fair credit, who may have difficulty getting most other cards. If you miss a payment or maintain a high balance on the Capital One Spark Classic-your credit utilization rate being a major factor in your FICO credit score-you could see your personal credit score decline along with your business one. If you'd rather keep your business and personal credit histories separate, then, this card may not be for you.Įarning a primary or side income from a small business While that reporting could help enhance your personal history if your payments are timely and well within your credit limits, any missteps you make could also mar it. That flow of information can help you begin to build a business credit history. But in addition, Capital One reports that account information to the credit bureaus that determine your consumer credit scores.

Your Personal Credit History Could Be Affected: Capital One, along with most major business credit card issuers, reports your account activity on its cards to the commercial credit bureaus.

While that’s hardly unusual for a no-fee card available to those with mediocre or even poor credit, it still pales beside the hundreds of dollars dangled by many of the best business cards. With the Capital One Spark Classic, however, you get only the latter.

No Bonus: Many rewards credit cards offer a bonus as well as ongoing rewards on everyday purchases.

While that's a modest rate compared to what you can get with good credit-the Capital One Spark Cash offers a flat 2% cash back, for example-it provides at least some return on your spending as you begin to build a positive credit history.

Simple, if Lean, Rewards: The card offers a flat 1% cash back on every purchase you make.

If you're trying to get your business off the ground but aren’t sure if your credit is in good enough shape for most business cards, this one could be a solid alternative. According to the bank, it’s possible to qualify if you’ve defaulted on a loan in the past five years or if you have a limited credit history-in other words, if you’ve only been using credit for less than three years.

With the Capital One Spark Classic, however, you may be approved even if your credit history isn’t stellar or extensive.

Good Credit Isn't Required to be Considered for Approval: Virtually all small business credit cards require a personal credit check when you apply, and many of the best options are aimed at business owners with a proven record of good or excellent personal credit.Your personal credit history could be affected