The Capital One Spark Classic card is unsecured, so you won't have to fund a security deposit in order to obtain credit. Capital One Spark Classic is open to applicants with limited credit (less than 3 years of credit history), but other factors will also be taken into consideration. These include income, debts and your general ability to make credit card payments.
Secured credit cards are generally built as a credit rebuilding tools for people with bad credit. But with limited credit, you’ll have a shot at the Capital One Spark Classic card. It’s a great choice for business rewards, as it offers free cards for employee authorized users, 5% cash back on hotel and rental cars booked through Capital One Travel, as well as 1% cash back on all other purchases, and has a $0 annual fee. If you’re not tied to Capital One as an issuer, feel free to also take a look at the best no credit business credit cards and the best credit cards for fair credit.
If you have bad credit, the Capital One Platinum Secured, while a consumer card, is still an option for small business owners. It's good for building credit, due to its $0 annual fee. The card offers a minimum credit limit of $200 and requires a security deposit of $49, $99 or $200, depending on the specifics of your credit history. You may add money to your security deposit to increase your credit limit.
But if you'd rather have a secured business credit card, there are some available from other issuers. Some of these have the added advantage of offering business-specific features such as free employee cards with individual spending limits and more. So check out our editors' picks for the best secured business credit cards.
The Capital One Spark Classic credit score requirement is 640+. This means that you need to have at least fair credit to get this card.
At the same time, though, Capital One Spark Classic is also designed for people with limited credit. So, you should be able to qualify for this card even if you have less than 3 years of credit history.… read full answer
However, meeting the credit score requirements doesn’t guarantee that your application for Capital One Spark Classic will be approved. The issuer will also take into account various other factors like your credit history, income, and any debts you might have.
Capital One will review your application for the Spark Classic Business credit card and determine your credit limit accordingly. If your application is approved, the minimum credit limit you will receive is $500.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.