topic Capital one spark business in Business Credit

Capital one spark business

Anonymous — Tue, 07 Jul 2020 13:47:34 GMT

Are there any downsides to getting the business card instead of the personal cards?

Re: Capital one spark business

ToughFistFight — Tue, 07 Jul 2020 15:27:16 GMT

Ya, it reports to your personal cr.

Re: Capital one spark business

RootDet — Tue, 07 Jul 2020 16:44:06 GMT

capital one pulls all 3 credit agencies, so it is a triple whammy.

Re: Capital one spark business

Anonymous — Tue, 07 Jul 2020 19:13:54 GMT

Personal protections from CARD Act will not apply.

That may or may not matter in your case.

Issuer has great ate right ability to raise annual fee so it so choose.

Re: Capital one spark business

Anonymous — Tue, 07 Jul 2020 19:47:11 GMT

@RootDet wrote:
capital one pulls all 3 credit agencies, so it is a triple whammy.

@ToughFistFight wrote:
Ya, it reports to your personal cr.

i think this is the same for both business and personal, i'm looking for disadvantages of the business card

@Anonymous wrote:
Personal protections from CARD Act will not apply.
That may or may not matter in your case.
Issuer has great ate right ability to raise annual fee so it so choose.

thanks

Re: Capital one spark business

SouthJamaica — Wed, 08 Jul 2020 22:00:14 GMT

@Anonymous wrote:
Are there any downsides to getting the business card instead of the personal cards?

You should get the Spark card if you're planning to use it for expenses of a business. There's no downside to it, it's even better than their personal cards.

Re: Capital one spark business

WayneSki — Wed, 08 Jul 2020 22:25:32 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Are there any downsides to getting the business card instead of the personal cards?
You should get the Spark card if you're planning to use it for expenses of a business. There's no downside to it, it's even better than their personal cards.

If it reports to your personal credit, which in return will affect your utilization and personal credit score. I would consider that as the "downside".

Re: Capital one spark business

RootDet — Thu, 09 Jul 2020 06:51:23 GMT

@WayneSki wrote:
@SouthJamaica wrote:
@Anonymous wrote:
Are there any downsides to getting the business card instead of the personal cards?
You should get the Spark card if you're planning to use it for expenses of a business. There's no downside to it, it's even better than their personal cards.
If it reports to your personal credit, which in return will affect your utilization and personal credit score. I would consider that as the "downside".

Same here. It will impact everything you want to do on the personal side, buying a house, buying a car, the works. Now if you want a decent business account, pick Chase or Bank of America. Neither report to personal reports unless you default. out of the two, I find bank of America to be the easiest to work with including for credit line increases. They look at personal and business lines separately, whereas chase will consider personal lines when extending credit to you. Example: chase denied me a cli many years ago on the business ink account because they felt that my credit lines for chase personal + business were sufficient for me, even if not being sufficient for the business!

Re: Capital one spark business

SouthJamaica — Thu, 09 Jul 2020 10:52:57 GMT

@RootDet wrote:
@WayneSki wrote:
@SouthJamaica wrote:
@Anonymous wrote:
Are there any downsides to getting the business card instead of the personal cards?
You should get the Spark card if you're planning to use it for expenses of a business. There's no downside to it, it's even better than their personal cards.
If it reports to your personal credit, which in return will affect your utilization and personal credit score. I would consider that as the "downside".
Same here. It will impact everything you want to do on the personal side, buying a house, buying a car, the works. Now if you want a decent business account, pick Chase or Bank of America. Neither report to personal reports unless you default. out of the two, I find bank of America to be the easiest to work with including for credit line increases. They look at personal and business lines separately, whereas chase will consider personal lines when extending credit to you. Example: chase denied me a cli many years ago on the business ink account because they felt that my credit lines for chase personal + business were sufficient for me, even if not being sufficient for the business!

OP didn't ask for downside compared to other business cards.

OP asked for downside "to getting the business card instead of the personal cards".

Re: Capital one spark business

GApeachy — Mon, 13 Jul 2020 18:25:24 GMT

@SouthJamaica wrote:
OP asked for downside "to getting the business card instead of the personal cards".

Correct...no downside.

I like this card, very reliable everywhere.

Re: Capital one spark business

BearsCubsOtters — Tue, 14 Jul 2020 01:09:47 GMT

No downsides. The same negatives can be associated with both the personal and business versions of Capital One (triple pull; low starting limits etc).

However, if it is cash back that you seek, the Spark Cash card earns 2% instead of the Quicksilver's 1.5% albeit it with a $95 annual fee. Better sign up bonus as well.

I'd say if its for business purchases you should get the business card and vice versa.

And if your credit warrants it, I'd go with an entirely different bank altogether.