Capital One Business Credit Card Review 2023

The credit card you choose for your small business will depend on your credit level, what you can afford and the kind of rewards you’re looking for in a card. We’ll go over each of Capital One’s business credit cards in detail to help you decide which one may be right for your business. We’ll also look at some credit cards from competitors to see how they stack up.

The bottom line: Capital One offers travel, cash back, and sign-on rewards—along with multiple cards that have no annual fee. We like that they also offer six different business cards to allow for you to find the best fit depending on your needs. Just a heads up that these Capital One cards don’t have great customer reviews. We’ll cover that more in the drawbacks below.

If you’re not looking to pay any interest (or rather APR), this is the card for you. But you have to meet a pretty high standard: excellent personal credit. That means a credit score of 800 and up. You also will have to pay an annual fee of $150.

If you can meet those requirements, you may find the Spark 2% Cash Plus rewards to be worthwhile. This card offers 5% cash back on travel (i.e., hotels and rental cars) along with 2% cash back on everyday purchases.

You can also get a cash bonus. Capital One offers up to $1,000 based on your spending in the first six months. The first $500 comes through if you spend $5,000 in the first three months, and the next $500 is if you spend $50,000 in the first six months. Capital One also has an annual cash bonus of $200 if you spend over $200,000.

Capital One offers two different 1.5% Cash Select cards—each with different rates and credit levels. So if your credit score isn’t excellent, the card with the higher annual percentage rate (APR) will be the better option for you. Just be sure to budget well so you can pay off your card each month and spend within your means.

The Spark 1.5% Cash Select card that requires a good credit score is the only Capital One business credit card that offers 0% introductory APR for the first 12 months.

The Spark 1.5% Cash Select credit card with the excellent credit score requirement offers a cash bonus of $500 if you spend $4,500 in the first six months.

If you qualify for both, you’ll have to choose which reward you prefer.

If you have a less-than-perfect credit score, then this credit-building Spark 1% Classic card is perfect for you. As long as you have a credit score of above 630, you’ll most likely qualify.

The fact that there isn’t an annual fee is fantastic too, but the credit card has little to no benefits and a very high APR. You won’t be getting much cash back at this 1% rate, but you could get 5% cash back on travel rewards if you book through Capital One Travel.

If you’re a frequent flier, this travel-rewards Spark 2X Miles business credit card may be appealing to you. However, the variable APR is still pretty high, and you have to pay an annual fee of $95 after the first year.

Still, if you have excellent credit, the travel rewards are pretty great. You can get a bonus of 50,000 miles if you spend $4,500 within the first three months. You’ll also get 2X miles on every business purchase and 5X miles on every hotel or car rental purchase—with the ability to transfer miles to more than 15 partners. In addition, you get up to a $100 credit if you apply for Global Entry or TSA PreCheck.

Though the perks are nice, you’ll have to take into account the costs associated with this business credit card to see if it’s worth it for you.

With a slightly lower starting APR than the Spark 2X Miles card and no annual fee, this is the more affordable option for travelers. The Spark 1.5X Miles Select business credit card also has an introductory APR of 0% for the first nine months.

You’ll get a bonus of 20,000 miles if you spend $3,000 within the first three months. You still get the 5X miles for travel purchases through the Capital One portal, it’s just your everyday business purchases that rack up 1.5X miles.

You don’t lose much between the Spark 2X Miles and Spark 1.5X Miles if you’re looking for a more affordable business travel credit card. But your credit still has to be in tip top shape.

When you’re shopping around for business credit cards, pay close attention to the annual fee, introductory APR, purchase APR, and credit requirement if listed. These are just the basics when it comes to comparing credit card offers.

Once you’ve covered the basics, we’d recommend delving into the rewards—cash back, travel, sign-on bonuses, and other perks. That’s often what really sets credit cards apart and you can gain some money-saving opportunities as long as you pay your balance each month.

So which competitor do we recommend if you’re not into Capital One? Chase’s Ink Business Cash Card comes out on top as the most appealing alternative.

With the Ink Business Cash Card, you get 5% cash back, a sign-on bonus of $900 (after spending $6,000 in the first three months), and no annual fee. Plus, the APR is lower than any of Capital One’s business credit cards and you get a 0% introductory APR for the first nine months.

But the Chase Ink Business Cash Card does have a high cash advance rate and limited categories where you can actually get that 5% cash back. If it’s not a qualifying category, you still get 1% on all purchases though.

All of Capital One’s six business credit cards offer free cards (as well as spending limits) for employees. This benefit is not to be underestimated—employee cards can get incredibly expensive.

For example, American Express just raised its fee and charges a whopping $350 annually per employee for its Business Platinum Card. Yes, you can write off that cost on your taxes, but it could still mess up your cash flow. If you have employees who need their own cards, this feature may be important to you.

This will apply more if you’re a frequent international traveler, but avoiding foreign transaction fees is definitely a perk that saves money on all of Capital One’s business credit cards.

Capital One is unique in offering zero foreign transaction fees. Most business credit cards charge around 3% for each transaction.

Capital One’s business credit cards suit a variety of businesses—from those just starting out to the more established. The standout feature is the rewards. Each credit card offers 5% cash back on travel purchases (or 5X miles with the miles cards), a percentage of cash back on everyday purchases, and a sign-on bonus. The alternative we recommended, Chase Ink Business Cash Card, offers rewards too, but only in limited categories.

One negative is that Capital One’s APRs are a bit high compared to competitors, and most Capital One credit cards don’t have introductory APRs. But if you can pay off your card each month, you travel often, and rewards are important to you, a Capital One business credit card may be a good fit.

If none of Capital One’s business credit cards stood out to you, take a look at our Best Small Business Credit Cards to see what else is available.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.