topic Re: Capital One Spark in Business Credit

Capital One Spark

Anonymous — Fri, 06 Oct 2017 04:32:29 GMT

I'm looking at it and the only negative reviews I'm seeing are due to the fact that it gets reported to personal credit, which apparently is an issue for some.

Anything I'm missing?

$500 Sign Up Bonus (Huge Plus)
Waived first AF (Big Plus) then 2nd year only $59!
No FTF (Big Plus)
2% CashBack every transaction (Big Plus)

Is the reporting to personal the only downside?

Re: Capital One Spark

Anonymous — Fri, 06 Oct 2017 11:22:48 GMT

Reporting to your personal is only a downside if you carry a balance. I have this card and it works good for me 2% back on any purchase and I don't have to worry about categories.

Re: Capital One Spark

Anonymous — Fri, 06 Oct 2017 13:51:51 GMT

I guess it would depend on your CL then. Because to get the bonus is 4.5k spend but what if you only get a 5k-CL

Re: Capital One Spark

Anonymous — Fri, 06 Oct 2017 14:19:44 GMT

I use my card virtually every day. It works great and the 2% is easy to earn. The only downside for me was the 3 CRA pulls to get it and of course reporting to personal credit.

Mine started out as a classic and then upgraded all the way to the Green 2% card so I missed out on the SUB. But I would think it would be able to achieve the SUB fairly easily even with a smallish CL. Just might have to pay it off a couple times a month.

Re: Capital One Spark

Anonymous — Sat, 07 Oct 2017 01:11:47 GMT

Was it a triple HP for this card for you too YouKnowWho?

Re: Capital One Spark

Anonymous — Sat, 07 Oct 2017 03:48:21 GMT

We have one of these. We added a Chase Ink this year also. We have a lot of the bonus spending and shop with chase. All the misc goes on Spark

Re: Capital One Spark

Anonymous — Sat, 07 Oct 2017 05:11:05 GMT

Interesting...95% of our spend is on "misc" (overseas purchasing), so it's basically who has the best benefits for that?

We have Chase Ink Cash & Preffered which if transferring to an airline adds up to close to 2%, and BofA Travel with their 1.5% Travel redemption.

But CapOne is offering 2% every time. We literally just bought about 8k of inventory though which wasn't going towards any bonus spend on cards just regular spend so that's sad because we could've just got the $500 from Spark for it.

Re: Capital One Spark

fltireguy — Sat, 07 Oct 2017 23:02:13 GMT

Matt, I have the no Af version. It was a triple pull, SL was $10k... SUb was $200, which I hit the first month
I have no issues with the card, and I generally run $5k per month thru it and PIF

Re: Capital One Spark

Anonymous — Sun, 08 Oct 2017 00:10:52 GMT

Yes it was a triple pull and like alottaacards I started with the classic and upgraded to 2% card but cap one is good with multiple payments so if you end up with a low limit just make 2 or three payments before the month is up and you should be able to meet spend requirements,also you can have it set up to send you a check in increments like $25 or $50 or higher and the checks just show up at your house. I even forgot I had that set up I'm like what the heck is cap one sending me and to my suprise it's a check. Sweet!

Re: Capital One Spark

Anonymous — Mon, 06 Nov 2017 16:03:23 GMT

Biz owner here. Never had a business credit card. Looking to get one though. My credit scores in all three bureaus are 682-685. No deliquents at all or judgments, just high debt for student loans (which are all current). All the forums state that Spark Classic is the best, however I'm looking to get the Spark Select. Been in business since 2010 with no negative information on my D&B report.

Re: Capital One Spark

Anonymous — Wed, 08 Nov 2017 17:22:47 GMT

Turbosig, It really depends on where you spend your money and the amount that determine what is best. Our biz is a service biz so we have no biz. We use Chase for target spend and Capital 1 for the misc. The only thing we don't like is Cap 1 reporting on personal credit. We love shop through Chase.

Re: Capital One Spark

Anonymous — Wed, 08 Nov 2017 18:12:24 GMT

Thanks Backwoods. I am a solo practice attorney so mainly my expenses are cell phone, internet for the office, rent, office supplies. I never took the initiative to start business credit though looking back 7 years, I shouldve done so. So this is really just a starter card to build business credit.

I actually applied today for the Classic as I believe my odds getting the Select Plus were very limited (figured go for the one I knew I would be approved for then get denied and dinged on HPs) and was approved for $2K limit based on scores from all three bureas (682-685). Much higher than I thought it would be, so I guess this is where I will start to build the business credit with hopes of getting upgraded in the future.

Re: Capital One Spark

Anonymous — Fri, 10 Nov 2017 02:29:08 GMT

@Anonymous wrote:
Thanks Backwoods. I am a solo practice attorney so mainly my expenses are cell phone, internet for the office, rent, office supplies. I never took the initiative to start business credit though looking back 7 years, I shouldve done so. So this is really just a starter card to build business credit.

I actually applied today for the Classic as I believe my odds getting the Select Plus were very limited (figured go for the one I knew I would be approved for then get denied and dinged on HPs) and was approved for $2K limit based on scores from all three bureas (682-685). Much higher than I thought it would be, so I guess this is where I will start to build the business credit with hopes of getting upgraded in the future.

If you have cell, internet and office supplies as big items then Chase Ink may work better. They also treat our voip Ringcentral as a 5% .

We use Chase or all of the above. Then Capt 1 Spark for the rest. The one thing I don't like about Cap 1 is reports on your personal score.

$2K is not bad for a Cap 1 Spark Classic.