Capital One Transforms the Small Business Credit Card Category with the launch of Spark Business

Small businesses make up 64 percent of total U.S. job creation, 65 percent of the global GDP and account for nearly 90 percent of the world’s workforce1. Capital One Financial Corporation (NYSE: COF) is recognizing their contributions to driving the economy by offering them more rewards with the launch of a new Small Business Credit Card portfolio – Spark Business (www.capitalone.com/sparkbusiness). With double miles or 2% back on every purchase, every day, Capital One’s Spark Miles and Spark Cash cards are raising the bar for small businesses by offering the highest value rewards in the marketplace to enable them to invest more in their growing businesses. No other major small business credit card currently offers a higher rewards earn rate that applies across all spend categories every day. Capital One’s Spark Business cards are filling a void in the small business credit card category by truly recognizing the efforts of small business owners, offering rewards options that deliver exceptional value while providing tools and benefits designed to help manage a business and save time.

Spark Business from Capital One not only offers compelling value, but also avoids the hassles of other rewards programs. The Spark Cash card offers 2% cash back on every purchase, every day and no limits to the amount of cash back that can be earned. Business owners looking for travel rewards can opt for the Spark Miles card, which features double miles on every purchase, every day, miles that will not expire, and the flexibility to redeem miles for free flights on any airline, anytime with no blackout dates.

“We understand that small business owners are looking for credit cards that provide value on many different levels,” said Michael Wassmer, executive vice president of US Card for Capital One. “With Spark, we are delivering on that promise of value through the most rewards in the industry and tools that enhance how they manage their business. Small business owners can earn more for their businesses without the restrictions and limitations commonly associated with earning or redeeming rewards.”

Spark Business also features four other products, including those with attractive low-rate options.

Features of the Spark Cash card include:

• 2% cash back on every purchase, every day
• One-time $100 bonus (once you spend $1,000 on purchases within the first 3 months)
• One-time $50 bonus for signing up for one or more employee cards within 60 days of opening an account
• No rewards expiration; no limit on the amount of cash you can earn, no redemption tiers, no spending minimums, no enrollment programs required to earn rewards, and no alternating special earn categories
• Award-winning small business customer service

Features of the Spark Miles card include:

• Double miles on every purchase, every day
• One-time 10,000 mile bonus (once you spend $1,000 on purchases within the first 3 months)
• One-time 5,000 mile bonus for signing up one or more employee cards within 60 days of opening an account
• Redeem miles for free flights on any airline, anytime with no blackout dates
• No limits to the amount of miles you can earn and your miles never expire
• Award-winning small business customer service

Features of all Spark products include:

• Free employee cards that allow business owners to set spend limits and track employee spending
• Ability to delegate routine account management tasks, such as requesting transaction information or making payments
• Online quarterly and year-end statements that categorize expenses to assist with budgeting and tax reporting
• Option to personalize card with business name and company logo/photo so small business owners can promote their business when they use their card
• Experienced customer servicing agents who are trained to address the specific needs of small business owners
• No foreign transaction fees

For more information about Capital One’s new Small Business card portfolio or any of Capital One’s small business products, visit www.capitalone.com/sparkbusiness.

About Capital One

Capital One Small Business offers a range of products and services to meet small business needs, including small business credit cards and business money markets on a national basis, in addition to loans and lines of credit; business checking, money market and savings accounts; and payroll and merchant services offered in our branches. Capital One has a team of bankers committed to deepening our relationships with small business owners and helping them achieve their financial goals.

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N.A., had $126.1 billion in deposits and $199.8 billion in total assets outstanding as of June 30, 2011. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

1 Sources: The Kauffman Foundation, International Data Corporation, Organisation for Economic Cooperation and Development, The Essential CIO: A 2011 Global Midmarket CIO study (IBM), Inside the Midmarket: A 2011 Global Perspective (IBM)