Does Capital One offer business credit cards?

Capital One Financial Corporation is an American bank holding company and is one of the largest banks in the United States. The company has always specialised in credit cards, but also offers auto loans, banking and savings accounts.

Capital One also operates in the UK, where it only offers credit cards. The company owns Luma, a credit card designed for those looking to build their credit score.

Has Capital One ever offered business credit cards in the UK?

Capital One has only ever offered credit cards for consumers in the UK. Its business credit cards are only available in the US.

Many of Capital One’s consumer credit cards have a particular focus on building credit and are designed for those with low credit scores.

What are the alternatives to Capital One?

If you’re looking for a business credit card, there are many alternative options to consider. We’ve outlined some of these below:

• Capital on Tap business credit card. Note that this has no link to Capital One and is designed for small businesses. It pays unlimited 1% cashback and offers credit limits of up to £150,000. There are no foreign exchange or UK ATM charges. Upgrade to Business Rewards at any point for £99 per year to redeem points for Avios. Earn 1 point for every £1 spent on your card.
• Barclaycard Select cashback business card. Offers 1% cashback on eligible business spend, with no annual fee. You can also benefit from free accounting software with FreshBooks, plus optional purchase protection and cardholder misuse insurance.
• Metro Bank business credit card. Offers a low interest rate of 14.9% APR, no annual fee and free transactions in most European countries.
• Santander business cashback credit card. Offers 1% cashback on all business spend with no cap and no foreign transaction fees on purchases abroad when paying in the local currency. There is a £30 annual fee.
• Amazon business American Express card. A rewards credit card, allowing you to earn 1.5% or 2% Amazon Rewards on UK purchases at Amazon on the first £120,000 each calendar year, and 1% thereafter. All purchases outside Amazon will earn 0.5%. A £50 annual fee applies but is waived for the first year (limited time offer). It will be waived altogether if you are an Amazon Business Prime cardmember and spend £8,000 or more on the card each year.

You can read more about these business credit cards and others in our guide.

Business credit cards offered by Capital One in the US

In the US, Capital One offers a number of business credit cards under the name of Spark. These are outlined below:

• Spark 2% Cash Plus. Unlimited 2% cashback on every purchase, plus earn up to $1,000 in the first 6 months and a $200 cash bonus every year you spend $200,000 or more. Annual fee of $150.
• Spark 1.5% Cash Select. Unlimited 1.5% cashback on every purchase. Earn a $500 cash bonus when you spend $4,500 in the first 3 months. No annual fee.
• Spark 1.5% Cash Select (for businesses with a “good” credit score, rather than “excellent”). Unlimited 1.5% cashback on every purchase. 0% interest on purchases for the first 12 months. No annual fee.
• Spark 1% Classic. Designed for businesses with a “fair” credit score who wish to rebuild credit. Unlimited 1% cashback on every purchase. No annual fee.
• Spark 2X Miles. Unlimited 2x miles on every purchase. Earn 50,000 bonus miles once you spend $4,500 in the first 3 months. No annual fee for the first year, $95 after that.
• Spark 1.5X Miles. Unlimited 1.5x miles on every purchase. Earn 20,000 bonus miles once you spend $3,000 in the first 3 months. No annual fee. 0% interest on purchases for 9 months.

How to find the best business credit cards

To find the best business credit card, you’ll first need to decide what you need from it. For example, are you looking for a card with the lowest rates and fees? Or would you prefer to benefit from perks such as business rewards or business travel?

Once you’ve decided, you’ll then need to find the providers that offer the type of business credit card you’re after, and compare your options. Look for the credit card that offers the features you require but also factor in the APR, annual fees, foreign exchange fees and other perks before finalising your decision.

Once you’ve found your card, check that you meet the eligibility criteria before making your application. You might need to be an existing customer, for example, or meet a minimum annual turnover requirement.

As part of your application, you might be asked to provide contact details for yourself and your business, proof of identification, such as your driver’s licence or passport, plus information about your business income as well as any assets and liabilities. Make sure you have these details and documents to hand.

Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio