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Capital One Spark Cash Will No Longer Be Reporting On Your Personal Credit Report

- Oct 21, 2020 Credit Card Info15 comments

In a conversation I had with a Capital One executive, it was confirmed to me that the Capital One Spark Cash for Business credit card will no longer get reported on the cardholder’s personal credit reports. Here is Capital Ones’ official statement coming from a capital One spokesperson “ Our portfolio of small business credit cards report to both personal and business credit reporting bureaus. For new Spark Cash customers starting 10/20, Capital One will no longer report to personal credit bureaus as long as an account remains in good standing”

Previously, all Capital One Business cards did get reported on the cardholder’s personal credit report, unless you got approved for a credit limit higher than $150,000. This has changed, and new applicants for the Capital One Spark Cash will not see the card appear on their credit report. Please note, as of now, this change only reflects the Capital One Spark Cash for Business, not the Spark Miles.

Why Is This A Big Deal?

Capital One Spark Cash is the only business credit card which offers unlimited 2% cashback on all purchases. But even with such a generous cashback offer, many businesses opted out of getting the card as they did not want their business balances to show on their personal credit report and hurt their credit score. Now, these businesses can jump in and take full advantage of the super cashback offer without any worries about their credit scores.

Another reason why this matters is in regard to Chase 5/24. Most business cards don’t get reported on your personal credit report. Therefore, they do not count towards the Chases 5/24 rule. Capital One Business cards do get reported to the credit bureaus and do count towards Chases 5/24. But now that this changed you can feel freer to get the Spark Cash card, without using up a slot towards a Chase card.

 

Which Banks Report Business Credit Cards to The Credit Bureaus

Based on this new information I updated this chart to reflect the change.

Reports business cards on your personal credit report?
Amex no
Bank Of America no
Barclays no
Capital One Yes, except the Spark Cash Card
Citi no
Chase no
Discover yes
US Bank no
TD Bank yes
Wells Fargo no

 

Will Capital One stop reporting all their business cards to the credit bureaus? Will existing Capital One cardholders also get their business cards removed from their credit reports? As of now no. But, I believe this positive change is only a beginner with more to come.

 

 

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Sam Sam has nearly a decade's worth of experience educating his many readers on everything credit. Sam spends his days checking out credit cards for a full report, from the minute benefit details to the shebang of welcome bonuses. Plus studying the ins and outs of building proper credit. It’s his favorite pastime and he loves sharing it with others.

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15 Comments

  1. Great info! Do you know if Spark Cash Select is still reported?

    Reply
    • This change as per the executive only reflects the Spark Cash Card and only for new applicants.

      Reply
      • I sent you the chat screenshots in an email.

        Reply
      • Absolutely unacceptable for Capital One not to apply this incredibly beneficial reporting change to existing accounts.

        Reply
  2. Amex has a business card that offers unlimited 2% cash back on all purchases and there is no annual fee.

    Reply
    • Oh actually that card is not unlimited. It is up to 50k in purchases

      Reply
      • Correct. This is the only business Unlimited 2% cash back credit card

        Reply
        • Will previously business reported balances on the personal report reflect a zero balance now? Does the balance just disappear? 9/20 showed $5k. After 10/20 that $5k reflects a $0 balance?

          Reply
          • This change, as of now, is only for new cardholders. Unfortunately, if your an existing cardholder you will still see the account and balances appear on your personal credit report.

  3. What score is needed for the Capital One Spark Cash Business Credit Card?

    Reply
    • Thes score should be in the excellent category which is 720 plus.

      Reply
  4. People are telling me this reporting change never happened. Spark Cash still reports to personal credit report

    Reply
    • It sure does! I just got my card in September 2021, and it took my score down nearly 70 points! Beyond angry!

      Reply
      • Are you sure you got the Spark Plus card not the Spark Miles? Because I do not have any other data points that suggest the Spark Plus reporting.

        Reply
  5. I was just approved 9/2021 its 12/21 and this freaking company is reporting to my personal & business credit. How is this legal.

    Reply

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