Understanding which Capital One Business Credit Card you are eligible for will go a very long way when it has to do with choosing a card that suits your most frequent spending and applying.
Capital One is renowned for its rewards credit cards for consumers but also boasts a range of amazing business credit cards that holds true whether you wish to earn cash back that can be used as you’d like or rewards that can be exchanged for covering the cost of traveling.
Then, you’ll figure out your needs and choose the perfect business credit card for you. Then, applying takes just a few minutes using the right steps.
What You Should Know About Capital One Credit Cards
If you are searching for a business credit card, Capital One’s selection is worth considering. Not only do Capital One business cards offer top-notch rewards and card member perks, but all of them offer free employee cards for staff and no foreign transaction fees.
The best Capital One business credit card is going to be based on your company spending you’re going to make and company rewards you’re going to earn.
Our list highlights the top Capital One credit cards you might consider applying for based on factors like rewards rates, sign-up incentives, and fees.
How Long Will it Take to Get the Capital One Credit Card?
Approval for small-business cards mainly relies on your personal credit score. Most cards require good or good-to excellent credit, typically an individual FICO score of 690 or better.
If your credit score falls into the poor or fair range (FICO score of 689 or lower), consider opening a secured business credit card, which will help you build your business credit. And do some work to build your personal credit so that you have more opportunities available to you later.
Getting a business credit card for a startup or new business follows largely the same process as getting one for an established company. While you’ll have to provide information about your business, credit card issuers generally don’t make approval decisions based on revenue or time in business.
How to Choose the Right Capital One Business Card
Your best Capital One business card will depend on your credit score, as well as the type of rewards you want to earn. If you’re considering a Capital One business credit card, consider the following:
1. Know Your Credit Score
Some of the premium Capital One business credit cards require excellent credit to be approved, and excellent credit generally means a FICO score of 740 or more.
2. Choose Whether You Want to Pay an Annual Fee
A card with a yearly fee can be well worth it if your rewards and benefits pay for it, as long as your rewards and benefits equal the fee. You can skip the annual fee if you don’t mind taking a lower rewards rate.
3. Choose between Miles and Cash Back
Capital One travel rewards credit cards let you transfer your miles to Capital One transfer partners, and this may be a good idea if you’re collecting miles towards a future travel redemption. Or, cash back Capital One cards are good because you can redeem your rewards for cash back in any amount.
Would you want a 0 percent intro APR to pay for big-ticket purchases in installments? Do you or your employees travel abroad frequently for business? Judge your business’s unique needs to determine which perks to look for.
Benefits of Capital One Business Credit Cards
The best Capital One business credit cards offer several benefits, including employee cards free of charge with individualized limits and the ability to make financing purchases on large items.
The possibility of earning rewards on typical business expenses. Several additional Capital One business credit card benefits worth mentioning include the following:
1. Bonus Travel Rewards
All Capital One business credit cards earn 5 percent cash back or 5X miles on car rentals and hotels booked through Capital One Travel. This lets you earn more rewards on work trips even if you only travel once or twice a year.
2. Easy Bill Payments
Merchants can pay sellers directly from their Capital One business account and have the option to hold back the payment until the following billing cycle and enjoy up to 45 days’ float.
Capital One charges a 2.9 percent fee for every payment by credit or debit card, but you can make ACH transactions from the linked checking account free of charge.
The Bottom Line
Capital One offers several options that are appropriate for different spending habits and credit histories. You can opt for a Capital One business card whether you appreciate flat-rate cash back, travel rewards, or an intro APR offer.
While there are some yearly costs to keep in mind, you may be able to earn these back through the rewards from your spending in some cases. In the end, it’s worth making comparisons among various business credit cards to determine which will suit your business best.
Used responsibly and with careful consideration, a Capital One business credit card can be a useful tool for paying your business bills.
If you have weak personal credit but strong company finances, you may be a good fit for a corporate card like Ramp or BILL Divvy. The card’s approval is your company’s finances, not your personal credit score.
