cancel
Showing results for 
Search instead for 
Did you mean: 

Hi & Question About Applying for a Sparks Card

tag
Anonymous
Not applicable

Hi & Question About Applying for a Sparks Card

Hi, I'm new here... 

 

I just started building my business credit after 5 years of being in business.

 

I'm using the help of a business credit building company - right now, I'm at the very first step of getting credit with net30, etc. vendors.

 

They say the next step once I get a paydex score with D&B, I will apply for accounts with higher level vendors, such as Sam's Club, gas cards, etc.  

 

BUT... I've been reading about the Capital One Sparks card and I'm ready to apply for it NOW.

 

My personal credit is low (they're working on that too). But I hear the sparks card is a little forgiving of credit (since they do check your personal).

 

So my question is... 

 

Should I wait to apply for the sparks card or just go ahead and take my chances?

 

I'm hoping it won't negatively impact my business credit building process.

 

Any thoughts?  Thanks!

 

 

Message 1 of 8
7 REPLIES 7
myjourney
Super Contributor

Re: Hi & Question About Applying for a Sparks Card


@Anonymous wrote:

Hi, I'm new here... 

 

I just started building my business credit after 5 years of being in business.

 

I'm using the help of a business credit building company - right now, I'm at the very first step of getting credit with net30, etc. vendors.

Cancel this service it's a waste of good money for something you can do yourself and find all the answers and help here

 

They say the next step once I get a paydex score with D&B, I will apply for accounts with higher level vendors, such as Sam's Club, gas cards, etc.  

Again you can get some of these in time on your own

 

BUT... I've been reading about the Capital One Sparks card and I'm ready to apply for it NOW.

Good first step to building biz credit and in fact this was my 1st card Sparks classic 

It has no AF and is easy to obtain 

If approved wait 6 months contact EO and ask that rewards be upgraded to 2% 

Which then makes this a very valuable card for general spending 

 

My personal credit is low (they're working on that too).

I invite you to visit our rebuilding forum to find ways to fix what's wrong For FREE

 

But I hear the sparks card is a little forgiving of credit (since they do check your personal).

All major lenders Amex, Citi, Chase, BofA will require a PG which means they will be checking your personal credit 

 

So my question is... 

 

Should I wait to apply for the sparks card or just go ahead and take my chances?

Need much more info to determine the answer

Scores Fico only?

Other CC's and limits?

Baddies? 

Any other TL's like auto, SL, home, or loans?

How is your biz structured? Corp, LLC, etc etc 

 

I'm hoping it won't negatively impact my business credit building process.

 

Any thoughts?  Thanks!

 

 


Welcome to the forum 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 8
SouthJamaica
Mega Contributor

Re: Hi & Question About Applying for a Sparks Card


@Anonymous wrote:

Hi, I'm new here... 

 

I just started building my business credit after 5 years of being in business.

 

I'm using the help of a business credit building company - right now, I'm at the very first step of getting credit with net30, etc. vendors.

 

They say the next step once I get a paydex score with D&B, I will apply for accounts with higher level vendors, such as Sam's Club, gas cards, etc.  

 

BUT... I've been reading about the Capital One Sparks card and I'm ready to apply for it NOW.

 

My personal credit is low (they're working on that too). But I hear the sparks card is a little forgiving of credit (since they do check your personal).

 

So my question is... 

 

Should I wait to apply for the sparks card or just go ahead and take my chances?

 

I'm hoping it won't negatively impact my business credit building process.

 

Any thoughts?  Thanks!

 

 


The Capital One Spark card has been good to me.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 3 of 8
Creditaddict
Legendary Contributor

Re: Hi & Question About Applying for a Sparks Card

I agree, CANCEL THE MEMBERSHIP NOW!

 

What is your personal credit like?

Do you currently have any cap1 personal cards? limits?

Message 4 of 8
Anonymous
Not applicable

Re: Hi & Question About Applying for a Sparks Card

I just got a Spark. $5K limit. I don't think anyone can accurately tell you if you should apply for a given card.

Message 5 of 8
CreditUnionFan
Valued Contributor

Re: Hi & Question About Applying for a Sparks Card

I just recently applied for the Sparks Business cards via a branch, chose both the cash and miles cards, and the special in-branch offer is that there is no annual fee.

 

The second card (cash) arrived as a Signature card, but only a $500 limit. It's on my to-do list to get the credit line increased. I hope it should go through OK since I had an existing Spark card that only had the 1.5% rewards.

 

The downside of Capital One is that they will request all three major bureaus (Trans Union, Experian, Equifax) in addition to any business credit reports, and the Capital One Spark card appears every month on your personal credit report. The 2% rewards is a serious upside, and if you can get the cards with no annual fee, you can ask for both on the same day. The credit bureau will likely consolidate the multiple requests if Capital One doesn't already use the same inquiry.

I was going to garden... Honest!
Message 6 of 8
Anonymous
Not applicable

Re: Hi & Question About Applying for a Sparks Card


@myjourney wrote:

@Anonymous wrote:

Hi, I'm new here... 

 

I just started building my business credit after 5 years of being in business.

 

I'm using the help of a business credit building company - right now, I'm at the very first step of getting credit with net30, etc. vendors.

Cancel this service it's a waste of good money for something you can do yourself and find all the answers and help here

 

They say the next step once I get a paydex score with D&B, I will apply for accounts with higher level vendors, such as Sam's Club, gas cards, etc.  

Again you can get some of these in time on your own

 

BUT... I've been reading about the Capital One Sparks card and I'm ready to apply for it NOW.

Good first step to building biz credit and in fact this was my 1st card Sparks classic 

It has no AF and is easy to obtain 

If approved wait 6 months contact EO and ask that rewards be upgraded to 2% 

Which then makes this a very valuable card for general spending 

 

My personal credit is low (they're working on that too).

I invite you to visit our rebuilding forum to find ways to fix what's wrong For FREE

 

But I hear the sparks card is a little forgiving of credit (since they do check your personal).

All major lenders Amex, Citi, Chase, BofA will require a PG which means they will be checking your personal credit 

 

So my question is... 

 

Should I wait to apply for the sparks card or just go ahead and take my chances?

Need much more info to determine the answer

Scores Fico only?

Other CC's and limits?

Baddies? 

Any other TL's like auto, SL, home, or loans?

How is your biz structured? Corp, LLC, etc etc 

 

I'm hoping it won't negatively impact my business credit building process.

 

Any thoughts?  Thanks!

 

 


Welcome to the forum 


I'm good with all thisadvice BUT....the BIG BOLD statement that

"Cancel this service it's a waste of good money for something you can do yourself and find all the answers and help here"

 

I understand the sentiment, however I always take a moment to NOT 'tell' somebody that they are WASTING money by paying

somebody to HELP or DO something that they may not be

comfortable

confident nor

competent enough to DO themselves.....

 

Yes, I work in the financial services industry and I do NOT perform paid repair or help anymore but this 'feeling' that folks shouldn't

CHARGE ppl to WORK for them or on there behalf is nonsense......

 

Some ppl NEED hand holding and extra attention to details that they just will NOT do on their own, period. So this RUSH to tell,

most ppl that they can indeed DO this or that on their own is DANGEROUS and leads to a lot of ppl with 'some' inmformation and

'some' understanding...just enough top screw themselves and many times their family and friends that 'listen' to Hal...instead of a pro.

 

 

It not different than H&R Block doing taxes...70% of Americans PAY someone to do what many ppl could EASILY say is a WASTE of money.

 

H&R Block doesn't change ONE tax law or regulation...nor do they change the NUMBERS on a w-2 or bank statement...however lots of ppl just

feel more confident & comfortable having someone else WORK with/for them on their behalf......

 

Very much the same as competently and/or confidently using experience in interpreting the FCRA among others and guiding a person thru a process

that they aren't

comfortable

willing

able

or want to do on their own.

 

I 'know' what I'm doing in the financial world be it taxes, credit building, anything to do with numbers other ppl are competent & comfortable in other arenas.

 

But it's IMO irresponsible to TELL ppl in general that they are 'wasting' their money by 'paying' for stuff they aren't 'good enough' at ...

 

Ex: A buddy may say 'Hey it's a WASTE to pay

the gardner (not if I value my time and if I'm not confident I can/will do the job as well)

a barber (isn't 'just' cutting hair...yeah but are YOU performing the service or him?)

a painter...again it's just rolling paint...but again if a human performs work, you pay them, period

 

And it doesn't necessarily mean you've WASTED anything

sometimes you've learned how to 'DIY' ( if you can the next time)

sometimes you pick up information and gain personal knowledge you would have never gain but for

 

sometimes ...it's just you being LAZY or valuing your time and effort over the money you spend

( I'm sure I 'could' learn to change oil or brakes but I ain't gonna do it.....nope I do the things I do and YES it's worth

'wasting' money on paying 'pros' to do some things one could DIY...but if someone TOLD ME to 'stop' paying the mechanic

I'd tell 'em to put the weed down)

 

*P.S. I know the repair industry does themselves no favors because of HOW they advertise, some of the players and quite frankly the

audience they cater to but I don't want ppl to get the impression that PAYING folks to work for or on their behaslf is always a waste because it surely is NOT!

 

Message 7 of 8
myjourney
Super Contributor

Re: Hi & Question About Applying for a Sparks Card


@Anonymous wrote:

@myjourney wrote:

@Anonymous wrote:

Hi, I'm new here... 

 

I just started building my business credit after 5 years of being in business.

 

I'm using the help of a business credit building company - right now, I'm at the very first step of getting credit with net30, etc. vendors.

Cancel this service it's a waste of good money for something you can do yourself and find all the answers and help here

 

They say the next step once I get a paydex score with D&B, I will apply for accounts with higher level vendors, such as Sam's Club, gas cards, etc.  

Again you can get some of these in time on your own

 

BUT... I've been reading about the Capital One Sparks card and I'm ready to apply for it NOW.

Good first step to building biz credit and in fact this was my 1st card Sparks classic 

It has no AF and is easy to obtain 

If approved wait 6 months contact EO and ask that rewards be upgraded to 2% 

Which then makes this a very valuable card for general spending 

 

My personal credit is low (they're working on that too).

I invite you to visit our rebuilding forum to find ways to fix what's wrong For FREE

 

But I hear the sparks card is a little forgiving of credit (since they do check your personal).

All major lenders Amex, Citi, Chase, BofA will require a PG which means they will be checking your personal credit 

 

So my question is... 

 

Should I wait to apply for the sparks card or just go ahead and take my chances?

Need much more info to determine the answer

Scores Fico only?

Other CC's and limits?

Baddies? 

Any other TL's like auto, SL, home, or loans?

How is your biz structured? Corp, LLC, etc etc 

 

I'm hoping it won't negatively impact my business credit building process.

 

Any thoughts?  Thanks!

 

 


Welcome to the forum 


I'm good with all thisadvice BUT....the BIG BOLD statement that

"Cancel this service it's a waste of good money for something you can do yourself and find all the answers and help here"

 

I understand the sentiment, however I always take a moment to NOT 'tell' somebody that they are WASTING money by paying

somebody to HELP or DO something that they may not be

comfortable

confident nor

competent enough to DO themselves.....

 

Yes, I work in the financial services industry and I do NOT perform paid repair or help anymore but this 'feeling' that folks shouldn't

CHARGE ppl to WORK for them or on there behalf is nonsense......

 

Some ppl NEED hand holding and extra attention to details that they just will NOT do on their own, period. So this RUSH to tell,

most ppl that they can indeed DO this or that on their own is DANGEROUS and leads to a lot of ppl with 'some' inmformation and

'some' understanding...just enough top screw themselves and many times their family and friends that 'listen' to Hal...instead of a pro.

 

 

It not different than H&R Block doing taxes...70% of Americans PAY someone to do what many ppl could EASILY say is a WASTE of money.

 

H&R Block doesn't change ONE tax law or regulation...nor do they change the NUMBERS on a w-2 or bank statement...however lots of ppl just

feel more confident & comfortable having someone else WORK with/for them on their behalf......

 

Very much the same as competently and/or confidently using experience in interpreting the FCRA among others and guiding a person thru a process

that they aren't

comfortable

willing

able

or want to do on their own.

 

I 'know' what I'm doing in the financial world be it taxes, credit building, anything to do with numbers other ppl are competent & comfortable in other arenas.

 

But it's IMO irresponsible to TELL ppl in general that they are 'wasting' their money by 'paying' for stuff they aren't 'good enough' at ...

 

Ex: A buddy may say 'Hey it's a WASTE to pay

the gardner (not if I value my time and if I'm not confident I can/will do the job as well)

a barber (isn't 'just' cutting hair...yeah but are YOU performing the service or him?)

a painter...again it's just rolling paint...but again if a human performs work, you pay them, period

 

And it doesn't necessarily mean you've WASTED anything

sometimes you've learned how to 'DIY' ( if you can the next time)

sometimes you pick up information and gain personal knowledge you would have never gain but for

 

sometimes ...it's just you being LAZY or valuing your time and effort over the money you spend

( I'm sure I 'could' learn to change oil or brakes but I ain't gonna do it.....nope I do the things I do and YES it's worth

'wasting' money on paying 'pros' to do some things one could DIY...but if someone TOLD ME to 'stop' paying the mechanic

I'd tell 'em to put the weed down)

 

*P.S. I know the repair industry does themselves no favors because of HOW they advertise, some of the players and quite frankly the

audience they cater to but I don't want ppl to get the impression that PAYING folks to work for or on their behaslf is always a waste because it surely is NOT!

 


Interesting concept you have there

 

Lets get to the point I agree with out of the way first ....

Agreed some people need to have their hand held and walked through any process.. So so true!!!!!!!!!

And this site is full of people willing to do just thatSmiley Wink

 

That being said, now the other end of the spectrum 

 

While you went to the extremes with the barber gardener and the tax man....Lol I like that ....not applicable to this conversation/situation but I likeSmiley Very Happy

 

It's a proven fact that somewhere in the 70% range and IMHO these credit repair companies that claim to build business credit as well as repair personal credit don't get much done by way of positive results.

All these companies do is what anyone with the knowledge found here can do,

Which is dispute with CB's, send out DV's and GW letters and we happen to have a whole forum dedicated to helping others and resolving past credit issues with a PROVEN success rate. (another fact)

 

It's just the facts and if you like.... search the web and obtain some facts and reviews and no matter how you slice it, this is truly my point of view which I might add I'm entitled to weather you like it or not..

It is what it is and as such,  I feel to be my constitutional right to say what I like when ASKED for help....Smiley Wink

 

You can find them anywhere....signs on major streets, telephone poles I've even seen them written on car windows.  You know like the proud parent who put GO TIGERS on their back window representing their childs sports team.....Bravo to the parents I've done it as well

 

What you don't find is many credit repair companies that advertise on the web or in the phone book....Smiley Surprised

Hmmmm why you ask... because then it would attract attention and open them up to mail fraud, racketeering etc etc to many broken laws to count

 

Sorry,  my opinion won't be changing until the ones that take advantage of people seeking help only to pay for this particular services and find that 

a) they stay a step head of the laws and regulations barely with thousands of complaints filed yearly to the BBB and or local government agencies.

b) thousands of complaints found openly and freely on the world wide web turn positive (won't happen)

c) they give the poor consumer part of their hard earned $$$$$$$$ when they come back with 50% of the results which is fair 50% of the cost....

d) we won't even mention the ones that are unlicensed collect money close shop and start a new business under another name.....Oooops my bad I mentioned them

 

Now if you can contradict any of this information and I might add this business forum is full of the same info and or bad experiences

DO NOT PAY THESE COMPANIES THAT FALSELY CLAIM THEY CAN PROMISE EXCELLENT RESULTS FOR SOMETHING YOU CAN DO YOURSELF

 

In response to what you spend your dollars on that's your business and I could truly truly care less but when hiring someone for taxes,  a gardener or a barber

Don't be foolish enough not to hear each and every side, view, recommendation, opinion and then research it again.

 

Or risk paying uncle Sam, dead shrubs/grass and the ultimate bad experience of all .....

leaving the barber with that jacked up, uneven cut, new bald spot in your head and their standing there with their hand out saying "well I got 50% of it right" so pay me

 

In closing.....

Again you can use your money anyway you like and frankly that's not my concern or business.

However, should you ever need thoughts and opinions from someone, I hope you are more open to all views on the subject matter or risk wearing a skull cap for the next 2 months from that bad hair cut the gardener who does taxes and started doing haircuts yesterday gave youSmiley Tongue

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.