We’re comparing and reviewing credit cards for businesses today, giving you the ins and outs for the Capital One Spark and, the Chase Ink. We will be judging the cards on the bonus they offer and the APR. We do the research so you don’t have to, let’s take a look.
Capital One Spark
Unlike most business cards this offers high rewards, you don’t just have to purchase stationery to earn your cash bonus. With a 2% cash back bonus on all purchases, you could end up saving thousands.
Not only this but they offer great bonuses for big spenders, spend $5,000 in the first 3 months and you can earn $500. On top of this, if you spend $50,000 in 6 months and you could be looking at $1,500 coming back to you. This one is a limited offer so you have to move quickly.
Review The Best Small Business Credit Cards for 2019
Now there’s a cost for all these bonuses it has an annual fee of $95, luckily you get the first year for free. Nothing this good comes for free so, we weren’t surprised to see an annual fee. A good thing the bonuses far outweigh the yearly fee.
If your business involves travel you can expect no foreign transaction fees. This is great when purchasing stock overseas. The main reason is that it won’t wipe out you bonuses with a 3% fee.
We think this card is great for the businessman that doesn’t work in the office, the 2% bonus on all purchases is a winner. One problem we found is the high APR but, used correctly this shouldn’t be an issue.
To apply for this you should have a credit rating of 690-850.
• 2% on all purchases
• No foreign transaction fee
• Great sign up bonuses up to $2,000 cash back
19.24 variable APR Chase Ink Preferred
If you’re the kind of businessman that travels often this card is for you, it offers a huge point reward system. You could earn a massive 80,000 bonus points for spending $5,000 within the first 3 months. This equates $1,000 towards your next business trip.
Not only this but you can earn 3 points per $1 for the first $150,000 when spent on travel or if you spend within certain business categories. You will also earn 1 point for every $1 spent and all other purchases, this is not capped to any limit.
To get these great rewards you will have to pay a $95 annual fee, but you can easily earn that back in points. Unfortunately, you don’t get your first year free like the Capital One spark but, it makes up for it.
We think this is a great card but, it does have its drawbacks especially if your spending habits don’t match the card. If you’re looking for cash rewards this might not be the card for you either.
Before you think of applying for this card you should have a credit score of 690-850
• Purchase protection, 120-day protection up to $10,000 per claim.
• Travel protection
• Transfer to airline and hotel programs
• Cell phone cover $600 per claim
17.99%-22.99% Variable APR
For us it’s very hard to choose one over the other, both have great rewards. If you often travel within your business then the Chase Ink would work better for you.
If you want high cash back rewards then we would choose the Capital One Spark, the cash back rewards far excide most credit cards.