Which redemption option makes more sense depends on your redemption patterns. Log in to your account to get online access to important cash flow functions. Capital One Spark Miles for Business waives the annual fee for the first year and then charges $95 thereafter. Something went wrong. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Sign-up bonus:Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening. While this isnt to the level of lounge access perks youll find with some premium credit cards, its pretty awesome for a business card that even has the annual fee waived the first year. The card offers 2% cash back on all purchases, which is 0.5% more than on the Spark Cash Select. Businesses with big expenses can get a ton of value out of this unlimited 2% card. If you request a DCC, youll likely be paying that fee on top of your foreign transaction fee if your card has one. WebThe Capital One Spark Cash Plus has a $150 annual fee. If you appreciate the simplicity of no rewards categories and have international suppliers or travel expenses, this card could generate significant cash back for your business over time, outweighing its annual fee. That goes read full answer All of the no foreign transaction fee business credit cards weve highlighted so far require good-to-excellent personal credit. The highlight: Spark Cash Plus earns unlimited 2% cash back on all purchases, with no caps or restrictions on your earning potential. If youre averse to paying fees, generally, and not just foreign transaction fees, then we suggest you consider the following three business credit cards with no foreign transaction fee and no annual fee: Great For: Travel rewards on unlimited spending. Sometimes in the account opening process youll need to visit your local branch to fund the account and sign the signature cards. WHERE TO FIND THIS INFORMATION? Personally I think its worth the annual fee to take advantage of the much better mileage earning rates. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. At 2% cash back, this card would earn $320.72 per year in addition to the welcome bonus. Fees typically range from 1% to 4% of the transaction price. This fee would look like a percentage of every dollar you spend, and this percentage could be as high as 3%. Having the Capital One Spark Miles for Business gets you lounge access twice annually: In each case youll just want to present your card, and it will be swiped. Review the list of documents to bring to the branch. But remember there could be other fees for using an ATM abroad. Our opinions are our own. Other Fees. var js, fjs = d.getElementsByTagName(s)[0]; Related Content Checking & Savings Expired debit card We've got you covered. If you plan to use a credit card while shopping abroad, its helpful to know if your card charges foreign transaction fees. You could also consider applying for a credit card that doesnt charge fees for foreign transactions. Lets look at a few other options out there, including the Spark Cash Plus, which is a similar card that could be worth considering as well. These are the most common Capital One Spark Miles for Business fees: Annual Fee: $95 ($0 for the first year) Additional Employee Cards: $0 Foreign Transaction Fee: 0% Purchase APR: 20.99% Late Payment: Up to $39 Capital One Spark Miles Compared to Similar Cards 1.5 miles per dollar spent on all purchases. For amounts greater than $5,000, you will be charged $1 per $1,000 you deposit. You must be at least 18 years of age and must be a legal U.S. resident. Ready to open an account? Ask a branch associate for details. A number of the top no foreign transaction fee business credit cards come with spend-based welcome offers. View Rates & Fees The Capital One Spark Cash Plus* has a similar sibling: the Spark Cash Select from Capital One*. WebFor non-360 products (Total Control Checking, Essential Checking and other products) we may charge a fee of $2, plus 3% of the total transaction amount, when you withdraw from an international ATM (outside of the United States, Puerto Rico, and the U.S. Virgin Islands). $95, waived the first year. NerdWallets picks for the best cash-back business credit cards, , there is no introductory offer of a 0% intro APR period. We believe everyone should be able to make financial decisions with confidence. If you use a credit card to shop outside of the U.S., understanding your cards foreign transaction fees could help you estimate some of your travel costs. A currency conversion fee might be charged by the credit card or debit card payment network or ATM network for converting one currency to another. NerdWallet's ratings are determined by our editorial team. Foreign transaction fees can vary depending on the credit card issuer and product. 660. See the respective Guide to Benefits for details, as terms and exclusions apply. Late payments could result in dings to your personal and business credit scores. Learn more about FDIC insurance coverage. Choose from our suite of cards designed with business in mind. This means youre earning two cents per dollar spent toward travel, since the card offers unlimited 2x Spark miles. If a traveler uses their card to make a large international purchaseor several smaller purchasesthese fees could add up quickly. The Capital One Spark Cash Plus is also a charge card, not a credit card another notable difference from the Capital One Spark Cash for Business. Currency conversion fees can be included in foreign transaction fees. 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel. Instead of making a partial payment and carrying the rest of what you owe as a balance, youll have to pay off your balance each month or risk late fees and possibly late payments noted on your credit report. While credit card exchange rates normally also include foreign transaction fees, the Capital One Spark Miles for Business card does not charge foreign fees. And there may be fees for non-360 productslike Total Control Checking, Essential Checking and other productswhen you use an ATM outside of the U.S. and its territories. 5% cash back on hotels and rental cars booked through Capital One Travel. Annual bonus: $200 when you spend $200,000 or more in a year. But for anyone looking for extra time to pay off a big purchase, the Capital One Spark Cash Plus card is not a fit. However, most balance transfer offers include a fee of 3% to 5% of the amount transferred. Late payments could result in dings to your personal and business credit scores. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Earn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. In this post I wanted to take a close look at what I consider to be one of the most well-rounded business credit cards out there. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, and has appeared on or contributed to Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. Here's what you'll need to complete the application: Additional documentation may be required depending on business ownership structure, etc. ), Unlimited 2% cash back on every purchase with no cap, Earn a $500 as signup bonus if you spend $4,500 in the first 3 months, Unlimited 1.5% cash back on every purchase with no cap if you can pay early, Choose your billing cycle and take up to 60 days to pay your balance, 3 points per every dollar on travel booked through Bank of America portal, 1.5 points unlimited for every $1 spent on all other purchases, 0% intro APR on purchases for first 9 billing cycles, Earn 30,000 online bonus points if you spend $3,000 in first 90 days, 3x rewards on travel you book through Bank of Americas travel portal, 1.5x rewards for every other dollar you spend, 30,000 points if you spend $3,000 in 90 days, Unlimited 1.5% cash back on every purchase with no cap, 1% cash back on all purchases with no cap. Products and services may not be available in all areas and require a physical bank branch location or a designated banker to sign up.. Foreign transaction fee: 3% of the U.S. dollar amount of each transaction. The offers straightforward rewards, but if youre looking for a travel card, this is far from likely to be the most lucrative option. While the Spark Classic isnt a travel credit card, it still lacks foreign transaction fees. WebEarn 10,000 American Airlines AAdvantage Mile Up bonus miles and receive a $50 statement credit after making $500 in purchases within the first 3 months of account opening. Appreciate all the work you put into informing us, thank you! Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. Commissions do not affect our editors' opinions or evaluations. Rewards Earning Details. Territories. Personally I dont find that to be a big deal one way or another, though it is something thats at least worth being aware of. These fees can add up quickly, but there are some steps you could take to possibly avoid them. The best Capital One cash back credit card is the Capital One Savor Cash Rewards Credit Card because it offers an initial bonus of $300 for spending $3,000 in the first 3 months. Not all card issuers charge foreign transaction fees. Say you buy a new camera while out shopping in Tokyo. ), U.S. address and owner establishment date (not a P.O. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, hotel chain, or product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Credit will appear within two billing cycles and will apply to whichever program is applied for first. For specific advice about your unique circumstances, consider talking with a qualified professional. All Rights Reserved. Checkbooks can be ordered by logging into your Capital One account. Will this count toward 5/24? All financial products, shopping products and services are presented without warranty. The welcome bonus on the Spark Miles Business Card isnt available to those who have the card, or those who have received a bonus on the card in the past. For Basic Checking customers, the $15 monthly fee can be waived with a $2,000 minimum 30- or 90-day average balance. No Annual Fee. Its helpful to talk to your card issuer and research your intended travel destinations prior to visiting. Capital One Spark Cash Select - $500 Cash Bonus comes with 1.5% cash back on all purchases and no annual fee. Further, unlike other cash-back business credit cards such as the, American Express Blue Business Cash Card, , your reward rate doesnt change no matter how much you spend on the. If you're planning to spend big, that bonus plus the rewards rate may make the. Related Content Checking & Savings Expired debit card We've got you covered. With any Capital One credit card, cardholders will save an average of 1.52% on each purchase they make abroad or with an international merchant, compared to the average credit card offer. It may not be the same model your lender uses, but it can be one accurate measure of your credit health. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. Unlimited digital transactions each month with no fees in sight. Thats why foreign merchants will sometimes offer to perform a dynamic currency conversion (DCC). If you want to learn more about the Spark Miles Business Card or want to apply, follow this link. And even though this business credit card with no foreign transaction fee will carry an annual fee of $95, the annual fee wont set in until your second year with the card. Limited Travel Partners for Rewards Redemption. All financial products, shopping products and services are presented without warranty. Get 5X Membership Rewards points on flights and prepaid hotels on amextravel.com. The card offers a $200 annual cash bonus if you spend $200,000 or more on the card in an anniversary year, which more than recoups the annual fee. If you schedule a bill payment through Capital One Online Bill Pay at least 4 business days before the due date and meet the other requirements of the Online Bill Payment Authorization and Agreement and incur a late fee or penalty fee because the payment does not arrive on time, Capital One will reimburse you (up to $50) for any late fee or penalty you incur and will work with you and the payee to resolve any issues associated with a delayed payment. A foreign transaction fee only comprises a single bullet amid the seemingly never-ending list of potential fees you could incur with abusiness credit card. Lead Writer | Small business, business insurance. Capital One Spark Cash Plus offers 2% cash back on all purchases, but you cant carry a balance. Assistant Assigning Editor | Student loans, small business. essentially offers a double sign-up bonus: That potential total easily outpaces the card's annual fee of $, But you can offset that fee even after the welcome bonus period elapses, with an annual bonus from Capital One. Appreciate all the work you put into informing us, thank you! $0. More money movement so you can focus on the big picture. is a charge card. The following links will direct you to the rates and fees for mentioned American Express Cards. Check with your service provider for specific fees and charges. The third parties listed are solely responsible for their products and services, and all trademarks listed are the property of their respective owners. Check. 4 Annual fee Just charge the entire rental to your card and decline the rental companys collision damage waiver coverage, and youll be covered for damage due to collision or theft. 0. Interest rate: No APR. When evaluating offers, please review the financial institutions Terms and Conditions. The card offers a 0% intro APR on purchases for 12 months from the date of account opening, then a variable rate of 17.74% - 25.74%. Rating Welcome Offer 50,000 miles UP's Bonus Valuation*: $900 Annual Fee $0 intro for the first year, $95 after that APR 25.24% Variable Credit Recommended Good to Excellent (670-850) Why We Like This Card Card Highlights The Capital One Spark Miles card is our favorite overall business card. 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