Capital One Spark Cash Plus Review: Best Cash Back Business Card

The Capital One Spark Cash Plus Credit Card Review: Everything You Need to Know

When running a business, choosing the right credit card can make a significant difference in managing finances and maximizing rewards. The Capital One Spark Cash Plus Credit Card is a strong contender in business credit cards, offering a simple, flat-rate cash-back structure that can help you earn on every purchase. In this review, we’ll dive deep into this business card’s features, benefits, and considerations, helping you determine whether it’s the best option for your business.

What is the Capital One Spark Cash Plus Credit Card?

The Capital One Spark Cash Plus Credit Card is a business credit card that offers a straightforward cash-back structure for small business owners. This card is perfect for those who want simplicity and consistent rewards without worrying about category restrictions or complicated reward systems. With the Capital One Spark Cash Plus, you earn unlimited 2% cash back on every purchase, making it a 2% cash back business card that rewards you for all expenses.

Capital One Spark Cash Plus Credit Card Rates and Fees

Here’s a breakdown of the Capital One Spark Cash Plus credit card rates and fees:

• Annual Fee: $150
• Interest Rates:
  • Purchase APR: 21.99% (Variable)
  • Cash Advance APR: 24.99% (Variable)
  • Penalty APR: Up to 29.99% (Variable), may apply if you make a late payment or your payment is returned
• Cash Advance Fee: $10 or 3% of the amount of each cash advance, whichever is greater
• Foreign Transaction Fee: None
• Balance Transfer Fee: None
• Late Payment Fee: Up to $39
• Returned Payment Fee: Up to $39
• Additional Card Fee (for Employee Cards): None

See all rates and fees.

These rates and fees are subject to change, so it’s important to check with Capital One for the most current information when applying for or using the card.

Why Choose the Capital One Spark Cash Plus?

• No category restrictions: Earn cash back on every purchase, everywhere, without worrying about rotating categories or spending limits.
• Flat-rate rewards: Enjoy 2% cash back on all purchases.
• Sign-up bonus: Capital One offers a $2,000 sign-up bonus when you spend $30,000 in the first 3 months.
• Annual fee refund: Get the $150 yearly fee refunded if you spend at least $150,000 annually.

If you are looking for simplicity and value, this card might be exactly what your business needs.

Capital One Spark Cash Plus Rewards

Here’s a list of the Capital One Spark Cash Plus credit card rewards:

• Unlimited 2% Cash Back on every purchase, every day: Earn 2% cash back on all purchases, with no limits or rotating categories
• Sign-Up Bonus: Earn a $1,000 cash bonus after spending $5,000 on purchases within the first 3 months from account opening
• Employee Card Benefits: No additional fee for adding employee cards, allowing you to earn rewards on purchases made by employees
• Annual Fee Refund: The annual fee of $150 can be refunded if you make significant purchases during the year
• Flexible Redemption: Redeem your cash back for statement credits, checks, or apply it to purchases made with your card
• No Caps or Restrictions: There’s no cap on how much cash back you can earn, and rewards don’t expire as long as your account remains active

These rewards offer a simple and straightforward way for business owners to maximize their spending and enjoy cash back across all purchases. 

Rewards Calculations for the Capital One Spark Cash Plus Card

The Capital One Spark Cash Plus Credit Card offers 2% cash back on every purchase. To give you a clearer picture of how much you could earn based on your monthly spending, here’s a detailed breakdown of your potential rewards:

Rewards Calculations for the Capital One Spark Cash Plus Card

How Rewards Add Up

• 2% Cash Back on Every Purchase: No matter how much you spend, the Capital One Spark Cash Plus gives you a consistent 2% cash back on every purchase.
• Maximize Your Earnings: The more your business spends, the more you can earn. For example, if you spend $200,000 annually, you could earn $4,000 in cash back (2% of $200,000).

As you can see, this flat-rate business card makes it easy for businesses to plan and maximize rewards without worrying about categories or limitations. Whether you’re spending on office supplies, travel, or everyday business expenses, the Capital One Spark Cash Plus rewards you consistently with 2% cash back across all purchases.

Key Features of the Capital One Spark Cash Plus

The Capital One Spark Cash Plus offers many beneficial features for business owners who want a reliable and straightforward rewards program. Here are the highlights:

1. Unlimited 2% Cash Back

Earn 2% cash back business card rewards on every purchase without worrying about specific categories or limits. This makes it among the best business reward cards for consistent cash back.

2. Welcome Bonus Capital One Spark

When you spend $30,000 in the first three months, you can earn a $2,000 cash bonus. This is a fantastic deal if you anticipate high spending in the initial months of your business.

3. Year One Bonuses

For every $500,000 spent in the first year, you can earn an additional $2,000 bonus. The more you spend, the more bonuses you can rack up!

4. Free Employee Cards

You can also issue free employee cards and earn cash back on their purchases. This can increase the total rewards your business deserves.

5. Capital One Travel Rewards

If your business involves travel, you can earn 5% cash back on hotels and rental cars booked through Capital One Travel, adding extra value to your business trips.

6. No Foreign Transaction Fees

This feature makes it an excellent choice for businesses that deal with international clients or travel abroad frequently.

7. No Preset Spending Limit

This card has no preset spending limit, which means your available credit adjusts based on your spending behavior, payment history, and credit profile.

Capital One Spark Cash Plus Benefits for Small Businesses

The Capital One Spark Cash Plus card is a solid choice for small-business owners who need a simple, flat-rate business card with substantial cashback rewards. Here are some notable benefits:

• Earn Unlimited Cash Back: You can earn unlimited 2% cash back on every purchase.
• Employee Card Benefits: Add employee cards for free and earn cash back on purchases.
• Cash Back Flexibility: Rewards can be redeemed as a statement credit or check or through services like Amazon.com and PayPal.
• Travel Perks: You can access Capital One Travel Rewards, making business travel more rewarding.

These features make the Capital One business rewards card one of the best business credit cards for companies of all sizes.

How to Earn Unlimited Cash Back with Capital One Spark Cash Plus

Earning cash back with the Capital One Spark Cash Plus is straightforward. Here’s how you can maximize your rewards:

• Every Purchase Counts: Earn 2% cash back on all purchases—office supplies, travel, or other expenses.
• Capital One Travel: Book hotels and rental cars through Capital One Travel and earn 5% cashback.
• Employee Cards: Use free employee cards and earn some money back on their purchases.

With no need to worry about rotating categories or spending limits, the Capital One Spark Cash Plus is an excellent choice for businesses seeking simplicity.

Capital One Spark Cash Plus Sign-Up Bonus

One of the most attractive aspects of the Capital One Spark Cash Plus is its sign-up bonus. New cardholders can earn a $2,000 cash bonus when they spend $30,000 within the first 3 months of opening the account. Additionally, you can earn an extra $2,000 bonus for every $500,000 paid in the first year.

You can easily take advantage of these rewards if you’re a business with a substantial budget. However, it’s essential to consider whether your business can meet the spending thresholds.

Fees: What You Should Know

The Capital One Spark Cash Plus card has some key fees that business owners should keep in mind:

• Annual Fee: The card comes with a $150 annual fee, which can be refunded yearly if you spend at least $150,000 annually.
• Late Payment Fee: If you fail to make a payment, you may be charged a late fee of 2.99% on the outstanding balance.
• Foreign Transaction Fees: The Capital One Spark Cash Plus has no foreign transaction fees, making it an ideal card for businesses traveling or purchasing from international vendors.

Despite the annual fee, the benefits of unlimited 2% cash back and the potential for bonuses can offset the cost.

How Does the Spark Cash Plus Card Compare to Other Business Cards?

The Capital One Spark Cash Plus Credit Card stands out in the crowded business credit card market due to its straightforward 2% cash back on every purchase. It’s a strong contender for businesses seeking simplicity and excellent value from their business card. However, comparing this card to others is essential to determine whether it fits your needs.

While the Spark Cash Plus offers a high flat-rate cashback reward, other business cards better suit different spending habits or business needs.

For example, the Ink Business Preferred® Credit Card provides a higher welcome bonus and bonus category rewards, which could be advantageous if your business spends heavily in those areas.

On the other hand, the American Express Blue Business Cash™ Card offers the same 2% cash back on purchases but has no annual fee, which could appeal to those with more modest spending.

The Brex Card doesn’t require a personal guarantee, making it ideal for newer businesses that need to separate personal and business finances.

Here’s a breakdown of how the Spark Cash Plus compares with some of the most popular business cards available today:

How Does the Spark Cash Plus Card Compare to Other Business Cards?

Analysis: Spark Cash Plus vs. Other Business Credit Cards

1. Simplicity vs. Bonus Categories

The Spark Cash Plus card is simple, offering 2% cash back on every purchase without category restrictions. For businesses that need a straightforward rewards structure, it’s a perfect fit.

However, suppose your company spends significantly in specific categories like travel, shipping, or advertising. In that case, cards like the Ink Business Preferred® Credit Card might provide better value due to their bonus category rewards.

2. Welcome Bonuses and Annual Fees

The Spark Cash Plus provides a solid sign-up bonus of $500 for spending $4,500 in the first 3 months. Although this is an attractive offer, the Ink Business Preferred® has a higher welcome bonus of 90,000 points (worth about $1,125 when redeemed for travel) but carries a $95 annual fee. For businesses that can benefit from travel rewards, the Ink Business Preferred might be a better option in terms of upfront rewards and flexibility

If annual fees are a concern, the American Express Blue Business Cash™ offers 2% cash back up to $50,000 annually, with no annual fee. This could make it an excellent option for businesses that don’t spend enough to justify Spark Cash Plus’s yearly fee but still want the simplicity of a flat-rate rewards card.

3. No Personal Guarantee and Dynamic Credit Limits

The Brex Card stands apart by offering a dynamic credit limit based on your business’s capital and spending patterns, and it doesn’t require a personal guarantee. This could be beneficial for newer businesses or those with fluctuating cash flow. While the Spark Cash Plus also offers flexibility with no preset spending limits, it requires a personal guarantee.

4. Long-Term Value

If you expect to carry balances or have moderate spending, the American Express Blue Business Cash™, with its 0% intro APR, might be a better choice. This allows businesses to carry balances without interest for the first 12 months, providing more financial flexibility in the short term.

In summary, the Capital One Spark Cash Plus Credit Card is a top choice for businesses looking for a simple, high cash-back rate. However, depending on your business’s spending habits and financial goals, other cards like the Ink Business Preferred for bonus categories or the American Express Blue Business Cash™ for a no-annual-fee option may be worth considering.

Is the Capital One Spark Cash Plus Right for Your Business?

The Capital One Spark Cash Plus Credit Card is ideal for businesses that spend a significant amount on various purchases and want a cash-back business credit card with no category restrictions. If you’re a business owner who prefers a flat-rate business card and appreciates simplicity, this card could be the perfect fit.

However, businesses that prefer to carry a balance or need flexible payment terms may consider other options, as the Spark Cash Plus is a charge card and requires payment in full every month.

Application and Approvals

Before applying for the Capital One Spark Cash Plus, it’s important to understand your liability as a cardholder. By agreeing to be an authorized user or account manager, you are permitting Capital One to contact you regarding all cards and accounts associated with this agreement.

Eligibility Criteria

The application must be received before the offer expires and should be complete, readable, accurate, and verifiable.

To get approved for the Capital One Spark Cash Plus credit card, the applicant must:

• Be 18 and have a valid Social Security or Individual Taxpayer Identification Number.
• Should be located in one of the following locations: the 50 United States, Washington, D.C., or a U.S. military location.
• Not have five or more open credit card accounts with Capital One.
• Not have a past-due Capital One credit card account.
• Also, the applicant’s address must not be a correctional institution.

Capital One Spark Cash plus Customer Service

• Helpline Number: 1-800-867-0904.
• Official Website: Capital One

Conclusion

The Capital One Spark Cash Plus Credit Card is an excellent option for business owners who want unlimited cash back without dealing with category restrictions or complicated reward systems. With a generous sign-up bonus, 2% cash back on all purchases, and additional travel rewards, it stands out among the best business credit cards. While it may not be the best fit for those who need flexible payment options, it’s a top choice for small-business owners looking for simplicity and value.

FAQs: Capital One Spark Cash Plus Review