Set at a 22.9% interest rate, Capital One Spark Classic business credit cards might not be the best for established companies, but they can be beneficial to new business owners.
All of the same perks and features Capital One credit card customers have become accustomed to are also available to Capital One Spark Classic credit cardholders. The most popular extras include; online billing statements, cash back rewards and additional discounts for account holders that eat at affiliated restaurants.
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The Capital One Spark Classic credit card is available to all small business owners, no matter how long they have been in operation or the number of people that they employ. Cardholders can always graduate to Capital One business credit cards with a lower interest rate after they have kept up with payments for a few years.
Capital One Spark Classic Benefits
The Spark Cash Rewards program enables cardholders to get 1% cash back every time they swipe their credit cards. These cash rewards are made available in the form of the check, which can be requested at anytime. There is no annual fee.
The Federal Trade Commission has rules in place that limit how credit card issuers can change their terms in policies, but it is still good to read your cardholder agreement when a new line of credit is opened.
All Capital Spark business credit cardholders get access to Capital One customer service representatives that know the ins and outs of this business credit card program. Some merchants will give Capital One Classic cardholders 15% on their purchases.
Capital One Spark Classic Interest Rates
Purchases made with Capital One Spark Classic business credit cards are calculated at 22.9%. Cardholders are charged 24.9% for cash advantages, and any account that is paid delinquently can be set to 29.4% interest.
Consumers that transfer their existing credit card balances to the Capital One Spark Classic credit card will be charged 22.9% interest. Capital One Spark Classic cardholders can be charged as much as $39 in late fees if they pay outside of their normal billing cycles.
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