If you’re looking for a credit card to use for business expenses and rewards, Capital One offers a variety of options that can be beneficial for small businesses. In this guide, we’ll explore Capital One’s business credit card portfolio and help you determine which card aligns best with how you’ll be spending and the rewards you want to earn.
Capital One Spark Cash for Business
The Capital One Spark Cash for Business card is a straightforward cashback rewards card for general spending. It offers a relatively high 2% cashback on all purchases with no limits or categories to track. This simplicity makes it appealing for businesses that spend across many categories each month.
Some key features of the Spark Cash for Business card:
- Earn a standard 2% cashback on all purchases, with no caps or rotating bonus categories to keep up with
- Cashback is issued as a statement credit to offset charges
- $95 annual fee
- No foreign transaction fees
- Online account management tools to view statements and transactions
The flat 2% rate makes this a good all-purpose card, especially for businesses that don’t want to bother tracking bonus categories. However, other options may earn more total rewards if your spending patterns align with bonus categories.
Capital One Spark Miles for Business
If you prefer to earn travel rewards instead of cashback, the Capital One Spark Miles for Business card earns miles you can redeem for flights, hotels, rental cars and more. Here are the details:
- Earn 2X miles per dollar on all purchases
- Miles are redeemable for any travel purchased through Capital One’s travel portal at a rate of 1 cent per mile
- Annual fee of $95
- No blackout dates or capacity controls when booking travel awards
- Earn 3X miles on hotel and rental cars booked through the travel portal
With a simple 2X miles on all spending structure, this card is easy to use for any business travel or supply expenses. Redeeming miles directly for travel statement credits can offset costs. Some cards offer higher potential earnings, but Spark Miles keeps things simple.
Capital One Spark Cash Select for Business
The Spark Cash Select bumps up rewards with rotating 5% bonus categories each quarter. Here are the key points:
- Earn unlimited 2% cashback on all purchases
- Earn 5% cashback in 2 categories that rotate each quarter (up to $25,000 in combined spending)
- Recent bonus categories included gas stations, TV/Internet/phone services and shipping suppliers
- Annual fee of $95
- Access to other Capital One benefits like extended warranty protection
If your business routinely spends a good amount on some consistent bonus categories each quarter, this card’s rotating bonuses could earn significantly more cashback than the regular 2% rate. Be sure your spending aligns with the calendar quarterly cycles though.
Capital One Spark Business
Next is Capital One’s premium business rewards credit card, the Spark Business:
- Earn unlimited 2X miles on all purchases (equivalent to 2% cashback if redeemed that way)
- Earn 10X miles (10% cashback equivalent) on hotels and rental cars booked through Capital One Travel
- Earn 5X miles (5% cashback equivalent) on airline tickets, takeout and streaming subscriptions
- Annual fee of $150
- Travel insurance perks like trip cancellation/interruption coverage
This card truly shines if you spend a substantial amount on travel that can be booked through Capital One’s travel portal to maximize the 10X and 5X bonus categories. The effective 10% and 5% cashback equivalent rates position this as a top option for businesses with frequent travel spending.
Capital One Spark Business Select
For those looking to earn more bonuses on multiple spending categories each billing period, the Spark Business Select has you covered:
- Earn unlimited 2X miles (2% cashback equivalent) on all purchases
- Earn 5X miles (5% cashback equivalent) in two custom categories each billing period
- Choose from 12 preset categories including gas, office supplies, dining, telecom services, and more
- Custom categories can be tailored to specific vendors or merchant codes if needed
- The annual fee is $150
With more flexible bonus categories that you pick each month, this card has strong potential if your spending aligns consistently within two bonus categories. You can optimize earnings by pairing categories that see regular expenses.
Applying for a Capital One Business Credit Card
To apply for any Capital One business credit card, you’ll need to provide some basic business and owner information:
- Business legal name, tax ID number, and type (LLC, sole proprietorship etc.)
- Business physical address
- Approximate annual business revenue/receipts
- Business date of establishment
- Owner’s personal information (name, SSN, address, date of birth)
Capital One will perform a “soft” credit inquiry to decide on approvals. Having an established business with at least a year in operation and a good personal credit history for the owner increases approval odds. If approved, expect a spending limit of $300-$500 initially based on credit profile.
Managing Your Capital One Business Credit Card
Once approved, Capital One offers many online and mobile tools for easily managing cards and earning/redeeming rewards:
- View and download statements online or on the mobile app
- Set spending alerts and notifications by email/text
- Pay balances online through the website dashboard or mobile app
- See detailed transaction history categorized by merchant
- Message Capital One customer support directly through an online account
- Redeem cashback for statement credits or travel awards
Capital One also provides financial wellness tools to help track spending patterns by category over time and set budgets to control expenses. Customer support is available 24/7 via phone, website chat, or secure messaging within online accounts.
Additional Perks and Protection
In addition to core rewards and account management, Capital One business credit cards offer extra benefits:
- Purchase protection covers new purchases for 120 days against accidental damage or theft, up to $500 per claim.
- Extended warranty doubles manufacturers’ warranty up to one extra year on eligible U.S. warranties of 3 years or less.
- Liability protection covers unauthorized charges if cards are lost or stolen (conditions apply).
- Primary car rental insurance is included when renting for business or pleasure in the U.S. and abroad.
So in summary, when choosing the best Capital One business credit card for your needs, consider:
- How you’ll predominantly use the card (travel, supplies, advertising, etc.)
- What payment types earn the highest returns
- Rotating or fixed bonus categories that match spending
- Annual fee that fits your budget and potential reward value
- Importance of expanded cardholder protection benefits
With competitive rewards, robust online tools, and specialized cards, Capital One has options that can strongly benefit many small businesses. Examining spending patterns over recent months can help select the best business credit card match.