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The Offer
The Spark business card from Capital One is a 2% cashback card or 2x miles per dollar which can be redeemed for 2% toward travel. The online offer has a $59 annual fee, waived the first year. It also has a signup bonus of $500 or 50,000 miles (worth $500) after spending $4500. See Capital One Spark Business Cards Now $500/50,000 Mile Bonuses After $4,500 In Spend for more info.
- Multiple reports on Reddit indicate that the Capital One Spark card is being offered with no-annual-fee by applying for the card in-branch. This offer is showing on the electronic display in-branch. The fee-free nature of the card is a permanent feature, not just the first year.
Note that Capital One branches are not found all over so this isn’t necessary too helpful for many. Locator
Caveat: The big catch is that, reportedly, the in-branch offer is not getting the signup bonus, although one person had success getting it upon request.
Our Verdict
Tough to risk the signup bonus for the fee waiver; you may not get lucky with getting the bonus, so it’s a big risk.
We reported a while back that Capital One has also been sending out offers for the Venture personal credit card with the annual fee waived for life. Some of those offers came with bonuses and some came without.
Note that although Capital One is known to pull all 3 credit bureaus, it’s been possible to freeze your Experian and end up with Equifax and Transunion pulls only.
With the Citi Double Cash offering 2% back with no-annual-fee, I bet there is pressure on Capital One and Barclay’s to either keep their 2% cards fee-free, or else to beef up the benefits of the card to make it worth the annual fee.
