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Possible to change the business on a Cap One Spark?

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Creditaddict
Legendary Contributor

Re: Possible to change the business on a Cap One Spark?

Yes, Capital One Does Company Changes.

 

They will ask you to send in written request on lettered stating the company change, who is authorizing it, and personally guaranteeing it... since it's just the company changing and not the account owner, it's fairly quick from there and they will send out a new card with new company.

no credit checks or anything like that.

Message 11 of 16
Creditaddict
Legendary Contributor

Re: Possible to change the business on a Cap One Spark?


@lindsaydruart wrote:

I doubt it because I believe they check business credit as well so the new business would need to have some credit. Doesn't hurt to ask though.


No, Cap1 doesn't check business credit and if they do it has no baring on credit decision.

Message 12 of 16
CreditJim
Established Contributor

Re: Possible to change the business on a Cap One Spark?


@CreditUnionFan wrote:

@CreditJim wrote:

I have an old Cap One Spark from our first business that I don't use at all anymore. I recently started a second business, and it could benefit from the 0% offers I keep getting on the Spark so I'm wondering if Capital One would let me update the account to be in the name of the new, second business, so that I didn't have to incur a triple pull to get another card?


It's worth calling and asking. It sounds like it may include the business name, business type, and EIN all changing. You won't know for sure how likely they are to change it until you call. 

 

If you've dealt with their branches, there was a recent in-branch offer for the 2% cards without the usual annual fee. Rumor has it you also still get the $500 or 50,000 mile bonus.

 

Whether you could still use the old credit line as-is should consider that the cardholder agreement likely states that all purchases are business and not personal purposes. You may have PGd the old business card, but if that business no longer exists it may not be kosher per the card agreement.


That sounds like a good offer but I'm trying to avoid the dreaded triple pull. The original company still exists, is doing great etc, we just don't use the Spark for it anymore. We've kept it as a backup credit line basically. That company has a few full time employees so I give them all an SPG business card to maximise my SPG points earnings Smiley Wink

 

The Spark, as it is, has just sat unused for a couple of years now. They even gave me an auto CLI, from $8k to $16k, a few months ago.

Quicksilver 51k | Discover It $45k | Bonvoy Business $38k | Lowe's $35k | Costco $33.5k | SWACU $30k | Ink Preferred $28k | USAA Rewards $25k | Ink Cash $22.5k | Ink Preferred $22k | Amex Blue Business Plus $17k | Freedom Flex $16k | Freedom $14k | CSR $10k | Amazon Store $10k | Amazon Business $3k | REI $3k
Message 13 of 16
CreditJim
Established Contributor

Re: Possible to change the business on a Cap One Spark?

 


@Creditaddict wrote:

Yes, Capital One Does Company Changes.

 

They will ask you to send in written request on lettered stating the company change, who is authorizing it, and personally guaranteeing it... since it's just the company changing and not the account owner, it's fairly quick from there and they will send out a new card with new company.

no credit checks or anything like that.


Thanks, going to try them now.

Quicksilver 51k | Discover It $45k | Bonvoy Business $38k | Lowe's $35k | Costco $33.5k | SWACU $30k | Ink Preferred $28k | USAA Rewards $25k | Ink Cash $22.5k | Ink Preferred $22k | Amex Blue Business Plus $17k | Freedom Flex $16k | Freedom $14k | CSR $10k | Amazon Store $10k | Amazon Business $3k | REI $3k
Message 14 of 16
CreditJim
Established Contributor

Re: Possible to change the business on a Cap One Spark?

Just got off the phone with Capital One. Very pleasantly surprised at dealing with their business CS, haven't called them for a long time. They had all the relevant info to hand, and Creditaddict

Quicksilver 51k | Discover It $45k | Bonvoy Business $38k | Lowe's $35k | Costco $33.5k | SWACU $30k | Ink Preferred $28k | USAA Rewards $25k | Ink Cash $22.5k | Ink Preferred $22k | Amex Blue Business Plus $17k | Freedom Flex $16k | Freedom $14k | CSR $10k | Amazon Store $10k | Amazon Business $3k | REI $3k
Message 15 of 16
CreditJim
Established Contributor

Re: Possible to change the business on a Cap One Spark?

Update for a data point - the card has been fully switched over now, the last statement cut in the new LLC's name and they're sending me new cards with the new name. Easy and painless process.
Quicksilver 51k | Discover It $45k | Bonvoy Business $38k | Lowe's $35k | Costco $33.5k | SWACU $30k | Ink Preferred $28k | USAA Rewards $25k | Ink Cash $22.5k | Ink Preferred $22k | Amex Blue Business Plus $17k | Freedom Flex $16k | Freedom $14k | CSR $10k | Amazon Store $10k | Amazon Business $3k | REI $3k
Message 16 of 16
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