Your Capital One Spark Cash Plus approval odds are good if you are a business owner with a personal credit score of 700+, which is considered at least good credit. Approval odds for the Capital One Spark Cash Plus Card will be influenced by your annual income and existing debts. Applicants will also need to be 18+ years old, and have a U.S. mailing address and an SSN.
What You Need for Good Capital One Spark Cash Plus Card Approval Odds
700+ personal credit score (at least good credit)
Enough income to pay credit card bills
Low debt relative to income
Low housing costs relative to income
U.S. mailing address
Age of 18+
Employer Identification Number, if applicable
Social Security Number or Individual Taxpayer Identification Number
Keep in mind that business credit card issuers generally use your personal credit information to decide whether to approve your application. That's why you'll need to provide your Social Security number, even if you have an Employer Identification Number.
You can sign up for a free WalletHub account and see if you're likely to get approved before you apply.
The Capital One credit score requirement is of at least 300, depending on the credit card. For example, applicants with limited or bad credit can get a secured credit card from Capital One, while the best Capital One credit cards overall require at least good credit for approval.
If you’re not sure which Capital One card you’ll be able to qualify for, it’s easy to get pre-qualified for a credit card on the … read full answerissuer’s website. You may also want to check your credit score before you apply for any Capital One card, just so you have a better idea of what to expect.
You can get approved for a Capital One credit card if you are at least 18 years old, have proof of enough income to make your monthly minimum payment, and meet the specific card’s credit score requirement. Capital One will also take into account your monthly housing payment, all sources of income, and other factors.… read full answer
If you’re unsure whether you’ll be approved, Capital One offers the possibility to check if you pre-qualify for some of their cards. This way, you can better assess your approval odds before you apply. Pre-qualification is quick and it’s done using a soft inquiry, so there’s no effect on your credit score.
How to Get Approved for a Capital One Credit Card
Meet the General Requirements. You must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification Number (ITIN) in order to apply. You will also need to provide your birthdate and a physical U.S. address (no P.O. boxes).
Report a Sufficient Annual Income. Your application must include your annual income, the sources of that income, and your bank account information. Capital One requires a monthly income that’s at least $425 more than your monthly housing payment.
Know Your Credit Score Before You Apply. Some Capital One cards require good credit for approval, which means a credit score of at least 700. Capital One also offers a number of credit cards for people with credit scores below 700. You can check your credit score for free on WalletHub.
Make Sure Bankruptcies Have Been Discharged. Capital One will reject your application if you have an unresolved bankruptcy on your credit report.
Check Your Capital One Account and Application History. Your application will be denied if you’ve submitted a Capital One credit card application twice or more in the past 30 days. The same is true if you’re past-due or over your credit limit on any of other Capital One credit card accounts.
If you are unable to get approved for a Capital One credit card, consider becoming an authorized user on someone else’s credit card account. As an authorized user, you will receive your own card, linked to the primary cardholder’s account. Plus, you can build your credit history while the primary cardholder assumes responsibility for all charges on the account.
You can easily check for Capital One pre-approval online. To start, enter your name, date of birth, Social Security number and address. Then, tell Capital One what kind of card you’re looking for and click “See Your Card Offers.” Capital One will then show you which of their cards you seem to be a good fit for, based on a … read full answersoft pull of your credit. The process should take minutes at most, and it won’t affect your credit score.
You may also receive a Capital One pre approval offer by mail. In that case, all you have to do is enter the “Reservation Number” and “Access Code” here to get to the card’s application. The application will be flagged as pre-approved when Capital One reviews it.
If you don’t have an offer yet, don’t worry. Checking online is quick and easy. Just remember that pre-approval doesn’t mean guaranteed approval. It is about as close as you can get, though, considering that most people who are pre-approved get approved when they officially apply.
Here’s how to check for Capital One pre approval online:
Enter your name, date of birth, Social Security number and address.
Select the type of card that appeals to you most: travel rewards, cash back or low interest (or select “not sure”).
Rate your credit level: excellent, average or rebuilding.
Check the box that indicates you know you’re not submitting an actual credit card application.
Click “See Your Card Offers”.
After a few seconds, you should see the Capital One credit cards that you’re pre-approved for, if any. And you’ll be able to apply for one of them right away, if you wish. Capital One offers credit cards to people of all credit levels. So the odds are good that you’ll come away with at least one Capital One pre-approved credit card offer.
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