How to apply for a Capital One business credit card

Editor’s Note: This post has been updated with new information.

capital one business card is ideal for business owners who want to earn the most rewards with the least amount of time and effort.

Tags like Capital One Spark Miles for Business and Capital One Spark Cash Select for Business earn 2 straight miles for every dollar or 2% cash back on every purchase. With these cards, you don’t have to sort through multiple spending categories and earn 2% back on business purchases that typically only earn 1% rewards that accrue over time. Now is the perfect time to sign up for either card as both come with solid signup bonus.

With the Spark Cash card, you can earn $500 in bonus after spending $4,500 in the first three months of account opening. The Spark Miles card has a similar offer — 50,000 miles after spending $4,500 in the first three months of account opening, $500 worth of travel. If you transfer your mileage to Capital One’s airline and hotel partner, you can potentially increase the value of these miles.

Related: How to Maximize One Mile Capital

Information about Capital One Spark Cash Select for Business has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

With that in mind, you should know about Capital One’s credit card app restrictions.

While the issuer limits you to two personal credit cards at a time, the Capital One business card (and co-branded card) is not included in this limit. Note that you will also only be approved for a card issued by Capital One every six months.

Also, keep in mind that nearly all Capital One business cards will appear on your personal credit report, which means they will add to your business card. Chase 5/24 count – even though they’re business cards.

If you are a sole proprietor (that is, a sole proprietor of a business), you can use your name as your business name. Or, if you are a freelancer or independent contractor, use your own name as your business name unless you are registered with your state or local government for a DBA (“business as”) name, instead , you should use that name. For a partnership, limited liability company, or any other type of legal business structure, use the official business name. Don’t name a business that you haven’t registered as a DBA.

Tip: Use your own name if you don’t have a distinct, official business name.

Related: Who may be eligible for a small business card

“Business name as you want it to appear on the card” does not need to match “business name”, but it can be an abbreviation if the full name of the business does not match. The business address and phone number can be your home address or personal cell phone number.

Assuming you are a sole proprietor and have not registered as a legal business entity (LLC, nonprofit, etc.), select “sole proprietorship” as the business legal structure . As a sole proprietor, you can use your Social Security Number (SSN) as your business tax ID. Otherwise, use your federal Employer Identification Number (EIN).

In most cases, the “type of business ownership” will be privately owned unless your company is publicly traded or partially owned by the government. Once you have selected the “industry type”, you will need to further specify your business activities under “category” and “specialization”. I find that the limited options for this part of the application rarely accurately describe my freelance activities. If you’re in the same boat, choose the option that makes the most sense.

When it comes to your “annual business revenue,” include all the money your business generates before expenses and taxes. For “business spending per month,” you can estimate your average monthly spending for the year, especially if your business is seasonal and your expenses fluctuate.

Once you’ve filled in your personal information, choose your role or title in the business. For most people, this will be the owner or partner. Your “total annual income” can include any income you regularly use to pay your bills — for many people, this can include your spouse’s income or life partner.

The last question asks if you want to use blank checks for cash advance. I recommend leaving this section blank or selecting “no”. If you use one of these checks, you’ll pay a higher interest rate on your cash advance (than buying a regular card) along with a cash advance fee, even if you pay it off right away. On top of that, cash advances will not earn points or count towards earning welcome bonuses.

Related: The best small business credit cards

Additional reporting by Emily Thompson and Stella Shon.