topic Re: Spark Classic approved in Business Credit

Spark Classic approved

911gt34life — Tue, 02 Jan 2024 18:27:13 GMT

Just got approved for my first business credit card only 300.... this account report to business or personal ?

Re: Spark Classic approved

JoeRockhead — Tue, 02 Jan 2024 19:56:27 GMT

Congratulations on your approval.

Re: Spark Classic approved

citymunky — Tue, 02 Jan 2024 20:46:22 GMT

@911gt34life wrote:
Just got approved for my first business credit card only 300.... this account report to business or personal ?

Both

Re: Spark Classic approved

pizzadude — Wed, 03 Jan 2024 15:13:23 GMT

@911gt34life wrote:
Just got approved for my first business credit card only 300.... this account report to business or personal ?

Congrats on the approval ! Cap1 biz cards will report to both personal and business, with the exception of their NPSL cards which have been reported to NOT show on personal reports.

Re: Spark Classic approved

MAT01 — Wed, 17 Jul 2024 02:32:06 GMT

I would encourage you not to remain a Capital One Sparks customer in the long term for there is no future in it. There is no building a business relationship with that company and I will explain.

For years now, I’ve had 2 Capital One cards. Zero late payments on all credit cards, statement balance paid in full every month on all credit cards, FICO 8 score ranging from 815 to 841, less than 8 percent utilization combined on all credit cards and only 1 new account in the past 3 years. Total open credit cards is 7, 1 small mortgage loan.

It took years to get our Sparks credit limit to $34,000, on July 10, 2024 Capital One reduced the credit limit to $10,000. In addition, no warning of an account review or anything else.

The reason for their action; not enough spend.

But at the same time, it was okay to have a heavy spend on my Savior card, receiving a whole 1 percent back.

In summation, I was an excellent Capital One customer for years and this was their thank you. I’m here to tell you; no matter how you view it, that is destructive.

I made 3 phone calls in an effort to have it changed and I’m done calling. Both my Sparks and Savior accounts will be closed ASAP.

I will be taking a FICO score hit due to the age of my accounts. But if you don’t say no, before long all credit card companies will be doing this.

Re: Spark Classic approved

pizzadude — Wed, 17 Jul 2024 13:26:02 GMT

@MAT01 wrote:

I made 3 phone calls in an effort to have it changed and I’m done calling. Both my Sparks and Savior accounts will be closed ASAP.

I will be taking a FICO score hit due to the age of my accounts. But if you don’t say no, before long all credit card companies will be doing this.

Just to clarify, your FICO scores won't take a hit due to AAoA, as both open and closed accounts are included in this calculation.

You'd only lose points if your revolving utilization increases as a result of losing these credit lines.

Re: Spark Classic approved

Friendlyfranknbeans — Sat, 27 Jul 2024 22:37:11 GMT

meh spark is fine. Cash back is better than nothing. Recently they are super anal with CLI. Either they love your or hate you.

Re: Spark Classic approved

MissLiz — Sat, 27 Jul 2024 23:17:46 GMT

That's awesome! Congratulations!

Re: Spark Classic approved

MissLiz — Sat, 27 Jul 2024 23:20:04 GMT

@Friendlyfranknbeans wrote:
meh spark is fine. Cash back is better than nothing. Recently they are super anal with CLI. Either they love your or hate you.

CapOne loves to hate me. I've had my Spark for two years and have been denied a CLI every request. It has a $1000 limit, but I use the heck out it.

Re: Spark Classic approved

creditrizz — Wed, 31 Jul 2024 06:35:10 GMT

CapOne has some weird practices with their biz cards. Some features are awesome like the weekly autopay, virtual cards, etc and I wish chase and amex would offer that. But then reporting on personal credit? I end up not wanting to use their biz cards much as the statement close date approaches cause I don't want some big business purchase to sneak in and use up up my personal utilization before i have a chance to pay the card off.

Re: Spark Classic approved

Backwoods — Mon, 05 Aug 2024 02:15:12 GMT

Join the I hate C1 fanclub for biz. C1 during the Pademic cut our Spark from $30,000 to $10,500. They never raised it again. Never late no derog It caused a ripple effect about 60 to 90 days later DW had her Amex cut citing high utilization she dropped from $30,000 or so to $13,000 and Discover and Citi did that to me also Citing high utilization. Funy thing was before C1 drop we well under 30% utilization then 90 days later 60% because of credit utilization. Sill no lates or derogs but killed scores. Went from over 800 to I dont't wank to think about it. C1 said it was from lack of use. Our biz blew through over $200,000 in cash as we were closed but still on hook for rent and utilities, lucky for us our house is paid for. We are open but just barely making a profit again. It will take years to fix