Capital One recently launched Spark Business, a suite of six small business credit cards. This represents a radical overhaul of the Capital One small business credit card portfolio, with the six new Spark Business cards replacing the existing five cards.
In launching Spark Business, Capital One is following the lead of Chase, which in 2009 replaced its small business card product range with the Ink portfolio. Like Chase, the launch of Spark Business enables Capital One to concentrate its marketing on one brand.
Other interesting aspects of the Spark Business launch:
- One of the cards–Spark Miles–is a small business version of its well-known Venture Rewards card, featuring two miles per dollar on all spending with no limits, and an annual fee of $59. There is also a cash back version of this card, called Spark Cash
- In an earlier blog, we highlighted the fact that many small business card issuers are offering large bonuses to drive small business credit card spending. Capital One is no exception to this, with Spark Miles offering a bonus of up to 15,000 miles, and Spark Cash promoting up to $150 cash back
- All of the Spark products have no foreign transaction fees. This is a standout feature, as most other issuers only eliminate foreign transaction fees on their high-end cards
- All of the Spark Business products offers card personalization options and free employee cards