Capital One Spark Cash Plus* offers business owners a flat rate of cash back for a high annual fee, but it has the potential to be a worthwhile option.
For $150 a year, business owners can earn 2% cash back on whatever they are. However, due to its hefty price tag, and many of the best perks for high spending, it should only be considered by businesses that spend quite a bit each year.
There are many business-related perks, but its key features are a flat rate on all purchases and a high welcome bonus of up to $1,000 ($500 after spending $5,000 in the first three months and $50,000 in six months) Get an extra $500) account opening month).
For traveling business owners, the card also earns 5% cash back on hotels and rental cars booked directly from Capital One. There is also no need to worry about foreign transaction fees.
It is important to note that Capital One Spark Cash Plus cannot be used for revolving balances, so it does not have an Annual Percentage Rate (APR). This means your credit card bill needs to be paid in full each month or you’ll be charged a 2.99% monthly late fee.
Its cash-back rate is competitive with many no-annual-fee cash-back credit cards, but the earning potential of Spark Cash Plus’ high business spending certainly isn’t.
in the text
Capital One Spark Cash Plus
introduce productEarn up to $1,000 in cash bonuses; $500 for spending $5,000 in the first 3 months of account opening, and $500 for spending $50,000 in the first 6 months of account opening
APRback
Introduction to Buying APRback
Referral credit excellent, good
- Unlimited 5% cash back on hotels and car rentals booked through Capital One Travel
- Get 2% Unlimited Cash Back on Every Purchase – No Limits or Category
annual fee$150
Introducing Balance Transfer APRback
Balance Transfer APRback
Balance transfer fee back
late payment fee 2.99% of unpaid portion
foreign trade festival not any
Penalty APR back
- Unlimited 5% cash back on hotels and car rentals booked through Capital One Travel
- Get 2% Unlimited Cash Back on Every Purchase – No Limits or Category
Rewards and Redemption
Spark Cash Plus for Business has a simple rewards program. You can use the card to earn 2% cash back on all your business spending.While this can be a good thing for businesses with a wide variety of spending, if your business spends a lot of money on one or two types of purchases, it’s best to choose one business credit card Offer higher rates for specific purchases.
Your cash back is delivered to you in the form of a statement credit (which reduces the overall balance of your account) or a check in the mail. You can also automate the process by setting your preferred method and choosing whether you want the redemption on a certain calendar date or a certain cashback amount.
Spend $200,000 or more with the card and earn an annual cash bonus of $200. However, spending $200 on $200,000 is trivial.
Again, keep in mind that you need to pay off your credit card balance in full each month or you’ll end up paying a 2.99% fee, wiping out the value of your rewards. You can set up autopay on your account to ensure you pay off on time.
Welcome bonus
Spark Cash Plus’ welcome bonus is one of the highest, and it works a little differently than most. New cardholders can earn up to $1,000. You’ll earn $500 by spending $5,000 in the first three months and another $500 by spending $50,000 within six months of opening the account.
It’s a high payout qualification, but if you have a sizable business, it probably won’t be too challenging to achieve. Transactions made on the employee card will also help you unlock the welcome bonus.
Other Card Privileges
Capital One Spark Cash for Business has some standard business management tools and some travel protection.
- Annual $200 Cash Bonus: Get a $200 cash bonus when you spend $200,000 or more annually with the card.
- account Manager: You can set up an account manager who can then make payments and purchases, review transactions and have the authority to resolve any issues.
- Purchase History: You can securely download your purchase history to multiple platforms, including Excel, QuickBooks and Quicken.
- Year-end summary: Review your spending itemized report to help budget your business and take the stress out of tax season.
- Free employee card: You can issue employee cards for free.
- Extended Warranty: If a new purchase has a manufacturer’s warranty of three years or less, you can extend it for another year.
- Roadside assistance: If your car breaks down while you’re on the road, you can get help with changing tires, jumping the car, or delivering fuel.
Alternative card
While Capital One Spark Cash Plus can be a lucrative option for business owners, it does cost quite a bit to get the most out of the card, so it’s not a great option for every business type. If Spark Cash Plus doesn’t fit your business budget, consider these alternatives.
Ink Business Cash® Credit Card
Ink Business Cash is a great choice for small businesses. It earns 5% cash back at office supply stores as well as internet, cable, and phone service on the first $25,000 (then 1%) spent annually on combined purchases. It also earned 2% cash back at gas stations and restaurants with the same spending cap (1% at the time).
It also comes with a sizable welcome bonus ($750 bonus for spending $7,500 with the card within the first three months of account opening) and more actual spending requirements. It also beats the competition when it comes to no-annual-fee business credit cards.
Basically, if you can’t meet high spending requirements to get the best Spark Cash Plus card, consider Ink Business Cash.
Capital One Spark Miles for Business
Capital One Spark Miles for Business* is primarily focused on travel, but it has a much lower annual fee ($0 introductory annual fee for the first year, then $95), and there’s no set spending level to get the most out of it. Cardholders earn 2x miles on purchases and 5x miles on hotels and car rentals booked through Capital One Travel.
With a welcome bonus of 50,000 miles after spending $4,500 in the first 3 months of account opening, the card is easy to get, but still very rewarding.
The application fee will make your business trip easier and cheaper Credit for Global Entry or TSA PreCheck And use your miles to buy flights, hotels or rental cars. You can also transfer them to Capital One’s travel partners, but they don’t have many US airlines.
If your business travels a lot and you don’t have a high enough spend to get all the services Spark Plus has to offer, you might be better served by Spark Miles for Business.
common problem
How to choose the right business credit card?
You need to look at your business budget. If you spend a lot each year, consider a card that rewards that spending. If you travel a lot, consider a business travel credit card that offers convenience and rewards. It depends on what your business needs are and what aspects of your business you want to support.
Should I get a credit card just for its welcome bonus?
While welcome bonuses certainly play a role in why you get a credit card, you shouldn’t get a credit card based on the welcome bonus alone. Consider other aspects of the card that offer lasting value compared to short-term rewards. It’s also a bad idea to change your spending habits just to get a nice bonus. Match the card to your budget instead of trying to change the budget to fit the card.
What is the difference between a credit card with and without APR?
You can use a credit card with APR to revolve your balance monthly, but the balance will accrue interest at that rate. Credit cards without APR (sometimes called debit cards) must be paid off in full each month, but you don’t have to worry about interest charges. However, late fees may apply.
*All information regarding Capital One Spark Cash Plus and Capital One Spark Miles for Business is independently collected by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on the objective, independent assessment of our writers and is not influenced by advertising or partnerships. It is not provided or commissioned by any third party. However, we may receive compensation when you click on a link to a product or service offered by our partners.