Author Topic: Capital One Business Spark card  (Read 81108 times)

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: May 2015
  • Posts: 811
  • Total likes: 122
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Capital One Business Spark card
« Reply #120 on: January 31, 2018, 02:59:58 PM »
wow, would love one of these
Ya me too, you need to show tax papers for this though

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6069
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: Capital One Business Spark card
« Reply #121 on: January 31, 2018, 06:22:38 PM »
Ya me too, you need to show tax papers for this though
even for a 150k cl?
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: May 2015
  • Posts: 811
  • Total likes: 122
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Capital One Business Spark card
« Reply #122 on: January 31, 2018, 06:36:12 PM »
even for a 150k cl?
To apply for the card you will need it

Offline David Smith

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2015
  • Posts: 8075
  • Total likes: 212
  • DansDeals.com Hat Tips 13
    • View Profile
Re: Capital One Business Spark card
« Reply #123 on: January 31, 2018, 06:38:43 PM »
Need to meet relationship manager in person? They give $500k+ spending ability? Would these balances also report on personal report, or shows as open credit line like a normal charge card?
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6069
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: Capital One Business Spark card
« Reply #124 on: February 01, 2018, 08:59:22 AM »
Need to meet relationship manager in person? They give $500k+ spending ability? Would these balances also report on personal report, or shows as open credit line like a normal charge card?
amex charge cards show personal balances, I assume here cap1 would be no different as they report for biz cards.


What i don't understand is - how do people do it with 150k cl's? even letting more than 50/60k of that close in a month will put a solid dent in ones credit...

forget about letting a statement close with 150k... forget about your credit until the next statement rolls around.
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline David Smith

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2015
  • Posts: 8075
  • Total likes: 212
  • DansDeals.com Hat Tips 13
    • View Profile
Re: Capital One Business Spark card
« Reply #125 on: February 01, 2018, 09:00:36 AM »


amex charge cards show personal balances, I assume here cap1 would be no different as they report for biz cards.

They show, but they don't impact utilization. They're open credit lines.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6069
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: Capital One Business Spark card
« Reply #126 on: February 01, 2018, 09:01:54 AM »

They show, but they don't impact utilization. They're open credit lines.
interesting, never knew that - good to know.  I always though that it shows the max ever used as the CL
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: May 2015
  • Posts: 811
  • Total likes: 122
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Capital One Business Spark card
« Reply #127 on: February 04, 2018, 08:39:19 PM »
amex charge cards show personal balances, I assume here cap1 would be no different as they report for biz cards.


What i don't understand is - how do people do it with 150k cl's? even letting more than 50/60k of that close in a month will put a solid dent in ones credit...

forget about letting a statement close with 150k... forget about your credit until the next statement rolls around.
As long as you don't plan on using your credit (opening a new card taking a loan...) That month what's the big deal to impact your credit?

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: May 2015
  • Posts: 811
  • Total likes: 122
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Capital One Business Spark card
« Reply #128 on: February 04, 2018, 08:44:30 PM »


Need to meet relationship manager in person? They give $500k+ spending ability? Would these balances also report on personal report, or shows as open credit line like a normal charge card?

You don't need to meet the manager in person although they would come to your house to discuss it with you if you want.
If you give business and personal tax papers you can get up to 500k in credit without papers you can get up to 150k (as per my manager)

Co business cards show up on your credit report and they would show your balance on the flip side if you have a zero balance then your credit utilization will be very low cause you have a high credit and zero balance

Online Mr. CC

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Oct 2015
  • Posts: 658
  • Total likes: 25
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: Yerushalayim
Re: Capital One Business Spark card
« Reply #129 on: February 05, 2018, 08:16:33 AM »
Co business cards show up on your credit report and they would show your balance on the flip side if you have a zero balance then your credit utilization will be very low cause you have a high credit and zero balance
and that'll but down your average credit age by far-for most people

Offline PillanSmye

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2015
  • Posts: 1028
  • Total likes: 68
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Capital One Business Spark card
« Reply #130 on: February 05, 2018, 10:12:05 AM »
and that'll but down your average credit age by far-for most people

Any new tradeline reporting will drop your AAoA.  Doesn't matter if its a $1000 Barclays or a $150K CapOne Spark.

The older and thicker your file, the less impact.  Hence the reason you shouldn't close older CCs with no AF.

Offline PillanSmye

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2015
  • Posts: 1028
  • Total likes: 68
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Capital One Business Spark card
« Reply #131 on: February 05, 2018, 10:13:22 AM »
As long as you don't plan on using your credit (opening a new card taking a loan...) That month what's the big deal to impact your credit?

Possible AA from other creditors.

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6069
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: Capital One Business Spark card
« Reply #132 on: February 05, 2018, 10:15:39 AM »
Possible AA from other creditors.
right. It doesn't look good, actually really looks really bad.

I don't get why cap1 does this, defeats the whole purpose of a biz card. They could just do what others banks do. (Report biz cards when delinquent)
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline PillanSmye

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2015
  • Posts: 1028
  • Total likes: 68
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Capital One Business Spark card
« Reply #133 on: February 05, 2018, 10:17:24 AM »

They show, but they don't impact utilization. They're open credit lines.

That's not true at all.  You think a $75K balance reporting on your personal credit just doesn't exist?  The individual card doesn't report as maxed out, but it does count against your global utilization.  FICO takes both factors into account.

Offline PillanSmye

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2015
  • Posts: 1028
  • Total likes: 68
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Capital One Business Spark card
« Reply #134 on: February 05, 2018, 10:27:15 AM »
right. It doesn't look good, actually really looks really bad.

I don't get why cap1 does this, defeats the whole purpose of a biz card. They could just do what others banks do. (Report biz cards when delinquent)

I think CapOne's target market is sole proprietors and single member llc's.  They're not a true business lender.

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 8355
  • Total likes: 1110
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Capital One Business Spark card
« Reply #135 on: February 05, 2018, 11:01:09 AM »
Any new tradeline reporting will drop your AAoA.  Doesn't matter if its a $1000 Barclays or a $150K CapOne Spark.

The older and thicker your file, the less impact.  Hence the reason you shouldn't close older CCs with no AF.
How much impact does your AAoA have in comparison to your average age of open accounts?
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline MRTHNMAN

  • Dansdeals Gold Elite
  • ***
  • Join Date: Sep 2012
  • Posts: 203
  • Total likes: 6
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: Brooklyn, NY
Re: Capital One Business Spark card
« Reply #136 on: February 05, 2018, 12:43:37 PM »
anyone have experience getting the annual fee waived for the second year ?

Offline PillanSmye

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2015
  • Posts: 1028
  • Total likes: 68
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Capital One Business Spark card
« Reply #137 on: February 05, 2018, 02:58:20 PM »
How much impact does your AAoA have in comparison to your average age of open accounts?

FICO scores pretty much only care about AAoA.  Vantage Skores seem to place an increased significance on AAoOA.

Remember also that banks have internal scores and things they look for that are not customer facing.  Chase has 5/24 which is out in the open, but we also know that credit unions, Barclays etc get all distraught over new accounts even though they aren't stated policies.  Even that doesn't have much to do with AAoOA, more just new accounts in general.

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 8355
  • Total likes: 1110
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Capital One Business Spark card
« Reply #138 on: February 05, 2018, 03:08:11 PM »
FICO scores pretty much only care about AAoA.  Vantage Skores seem to place an increased significance on AAoOA.

Remember also that banks have internal scores and things they look for that are not customer facing.  Chase has 5/24 which is out in the open, but we also know that credit unions, Barclays etc get all distraught over new accounts even though they aren't stated policies.  Even that doesn't have much to do with AAoOA, more just new accounts in general.
Good info, thanks.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6069
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: Capital One Business Spark card
« Reply #139 on: February 05, 2018, 07:42:47 PM »
That's not true at all.  You think a $75K balance reporting on your personal credit just doesn't exist?  The individual card doesn't report as maxed out, but it does count against your global utilization.  FICO takes both factors into account.
+1
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle