Capital One Spark Cash Plus Review

Capital One Spark Cash Plus Review

The Capital One Spark Cash Plus is a revamped version of the popular Capital One Spark Cash for Business credit card. This new and improved version offers business owners an attractive cash-back rewards program with enhanced benefits and features.

With 5% cash back on hotels and rental cars booked through Capital One Travel, unlimited 2% cash back on all qualifying purchases, and a variety of redemption options including statement credits, checks, gift cards, and payments through Amazon.com and PayPal, this card is designed to maximize cash rewards for business owners.

In addition, cardholders can earn a limited-time welcome bonus of up to $3,000 by spending $20,000 in the first three months and an additional $1,500 by spending $100,000 in the first six months.

Let’s start with the quick highlights:

Quick Highlights

• limited time offer: earn up to a $3,000 cash bonus

• Get 2% cash back on every purchase with no limits or restrictions

• No preset spending limit for adaptable purchasing power

• Annual fee of $150 refunded when you spend at least $150,000 in a year

• Rewards never expire and can be redeemed for any amount

• Earn 5% cash back on hotels and rental cars booked through Capital One Travel

• Free employee and virtual cards for team purchases with rewards earned

• Automatically sync transaction data with accounting software and easily pay vendors

• Pay-in-full card with no APR as the balance is due every month.

Capital One Spark Cash Plus Rewards

• Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
• Unlimited 2% cash back on every purchase, everywhere, with no limits or category restrictions
•  Earn unlimited cash back every time you use your “Rewards

Intro Sign-Up Bonus

For a limited time, earn up to a $3,000 cash bonus:

• $1,000 after spending $20,000 in the first three months
• An extra $1,500 once you make purchases of $100,000 in the first six months (offer ends March 11, 2024)

Capital One Spark Cash plus Rates and Fee

• Intro APR for balance transfers: N/A
• Intro APR for purchases: N/A
• Regular APR: N/A
• Annual fee: $150
• Cash Advance: Either $5 or 5% of the amount of each cash advance, whichever is greater.
• Late Payment: 2.99% of the unpaid portion of your minimum payment.

See all rates and fees.

Capital One Spark Cash plus Benefits

The Capital One Spark Cash Plus credit card offers many convenient features and benefits to help you manage your finances effectively. Some of the top benefits include:

• Automatic Payments: With Auto Pay, you can set up automatic payments for your credit card so you don’t have to worry about forgetting to pay your monthly bill.

• $0 Fraud Liability: In the unfortunate event that your card is lost or stolen, you are not held responsible for any unauthorized charges. You can also get an emergency replacement and a cash advance if needed.

• Year-End Summaries: Simplify budgeting and tax time by receiving an itemized report of your spending each year.

• Account Managers: Assign an account manager to assist with purchases, payments, and resolving any issues that may arise.

• Purchase Records: Easily download your purchase records in multiple formats like Quicken, QuickBooks, and Excel for easier tracking and budgeting.

• Virtual Card Numbers: Protect your actual card number when making online purchases by using virtual card numbers instead. This adds an extra layer of security to your transactions.

Manage Your Account

• Payment Flexibility: The benefit of Capital One Spark Cash Plus is its payment flexibility. Your business can choose your monthly due date, allowing you to pay when it’s most convenient. This can help with cash flow management and ensure you never miss a payment.
• Transaction Details: With the Capital One Spark Cash Plus, when available, you can access transaction details for each purchase, such as merchant information (including address, logo, phone number, and map). This can be especially helpful for keeping track of your business expenses and staying on top of your finances.
• Recurring Transactions: The Capital One Spark Cash Plus offers a handy tool for managing recurring transactions for businesses with regular monthly expenses like subscriptions or bills. You can view a list of merchants that charge your card monthly, making it easy to keep track of these expenses and ensure they are paid on time.

Employee Access

• Free Employee Cards: With the Capital One Spark Cash Plus card, you can keep track of your employee’s spending while still earning all the rewards from their purchases. This makes managing business expenses easier and ensures everyone stays within budget.
• Spend Limits: You can set customized spending limits for each card to manage your employees’ spending further. This allows you to control how much each employee can spend and prevent overspending. Additionally, with real-time transaction monitoring, you can see all purchases as soon as they are made.

Capital One Spark Cash plus Travel

• No Foreign Transaction Fees: With the Spark Cash Plus card, you won’t have to worry about paying foreign transaction fees when purchasing outside the United States. This can save you significant money, especially if you frequently travel for business.
• Roadside Assistance: The Spark Cash Plus card provides roadside assistance services in an auto-related emergency, such as a flat tire or dead battery. This includes jump-starting your vehicle, changing a flat tire, and towing services. This extra support can give you peace of mind when traveling for work.
• Capital One Travel: As a Spark Cash Plus cardholder, you can access exclusive travel benefits through Capital One. This includes getting the best prices on thousands of trip options, even after you book. You can also use your rewards, your card, or a combination of both to pay for your travels flexibly.

Capital One Spark Cash Plus Service & Protection

• Account Access: With Capital One Spark Cash Plus, you can manage your account online or through the mobile app. This lets you easily track your account activity, view payment options, and download past account statements.
• Security Alerts: The safety and security of your account is a top priority for Capital One. You can rest assured knowing that you will be notified via text, email, and phone if any potential suspicious transactions are detected on your account.
• Fraud & Security Alerts: In addition to security alerts, Capital One also offers fraud and security alerts. These can be set up to notify you via email or text message if any potential mistakes or suspicious charges are detected on your account.
• Card Lock: If your card has been misplaced, lost, or stolen, you can easily lock it using the Capital One Spark Cash Plus. This feature provides added security and peace of mind, knowing that your card cannot be used without your knowledge.
• Extended Warranty: As a Capital One Spark Cash Plus cardholder, you also have the added benefit of an extended warranty on eligible items purchased with your card. This provides free additional protection and coverage for qualifying purchases.
• Customer Support: At Capital One, we understand the unique needs of business owners. That’s why our Capital One Business representatives are specially trained to provide top-notch support and assistance for all your business needs. You can easily reach out to them through our website or by phone.

 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

Business owners looking for a credit card with a lucrative sign-up bonus and high flat-rate cash back rewards should consider the Capital One Spark Cash Plus. However, the $150 annual fee should be taken into consideration before signing up for this card. Depending on your business’s spending habits, it may be beneficial to also explore other cards that offer elevated rewards in specific categories or lower annual fees.

The Spark Cash Plus is offering an impressive sign-up bonus of up to $3,000 for new cardholders. This includes $1,500 after spending $20,000 in the first 3 months and an additional $1,500 after spending $100,000 in the first 6 months. Not only that, but cardholders can earn unlimited 2% cash back on every purchase with no limits or category restrictions.

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