If you’re looking for an affordable business card with a simple, yet generous rewards program, the Capital One Spark Cash for Business may fit the bill.
While this card doesn’t offer a ton of fancy perks or bonus categories, its best feature is its simplicity: you simply earn a flat 2% cash back on all spending, and you can redeem points at any time with no minimums.
An affordable annual fee waived the first year and a generous early spend bonus also make this card a great option for business owners who just want an easy, affordable card.
This Capital One Spark Cash for Business review will help you decide if it’s the best option for you.
Unlimited Cash Back
Who should get this card?
The Capital One Spark Cash for Business is an ideal card if you don’t tend to spend the bulk of your funds on travel, shipping costs, or technology. While there are other business cards that give you bonus rewards for these common types of business spending, the Capital One Spark Cash for Business doesn’t offer bonuses but instead provides a generous 2% cash back on every purchase you make.
To get the most from the card, you’ll want to make sure you spend enough to offset the $95 annual fee.
Thankfully, there are perks that can help balance out the fee, including:
- Auto rental collision insurance that offers primary coverage when renting a vehicle for business purposes.
- Extended warranties that double the length of manufacturer warranties.
- Purchase protection that entitles you to repair or reimbursement of eligible items damaged within 90 days of purchase.
|Early Spend Bonus||One-time $500 cash bonus after spending $4,500 in the first 3 months|
|Recommended Credit Score||Excellent|
|Foreign Transaction Fee||None|
Top card benefits
- Generous early spend bonus: One-time $500 cash bonus after spending $4,500 in the first 3 months.
- Simple rewards program: Earn 2% cash back on all purchases. Cash back never expires and can be redeemed at any time.
- Free cards for employees: Get as many employee cards as you need at no extra cost and earn rewards for purchases made by employees.
- No foreign transaction fee: Purchases can be made abroad without any fees being charged. Other cards charge as much as 3% when purchases are made outside of the U.S. or in foreign currencies.
- Auto rental collision damage waiver: Rest easy with this benefit that offers primary coverage for losses caused by collision or theft on car rentals for business purposes.
- Purchase security: If you have a problem with an eligible product you purchased with your card, you can get it repaired or replaced, or you can be reimbursed for its cost within 90 days of the purchase.
- Extended warranty: Visa will double the length of your manufacturer’s warranty for eligible purchases made on your card.
- Accounting made easy: You can download transactions into popular business accounting programs, including Quickbooks, Excel, and Quicken.
Earning & redeeming
Earning cash back is simple with your Capital One Spark Cash for Business Credit Card. Simply use your card for any business expense and earn 2% cash back.
To earn the maximum rewards possible, take advantage of the opportunity to get free cards for your employees so you can earn cash back for their spending as well.
Maximizing your redemptions
One of the nice things about the Capital One Spark Cash for Business card is that you don’t need to worry about redeeming for specific types of rewards — such as travel with particular airlines — in order to get the most bang for your buck. That’s because you can simply redeem your cash back any time and will always get the same 2% back.
There’s no expiration to your cash back, nor are there minimum amounts required to redeem, so you can redeem your rewards whenever you want.
If you’re still unsure about the Capital One Spark Cash for Business, here are the answers to some common questions about the card that might help you decide if it’s right for you.
What type of credit limit can I expect to receive with the Capital One Spark Cash for Business?
The minimum credit line on the Capital One Spark Cash for Business is $2,000, but your specific credit line will be determined by your credit history and other financial factors.
What credit score is needed to qualify for the Spark Cash for Business card?
To qualify for the Spark Cash for Business Credit Card, you’ll need to have good to excellent credit.
After year one, is the Capital One Spark Cash for Business worth the annual fee?
Whether the Capital One Spark Cash for Business is worth the annual fee depends on if you’re able to take advantage of the perks. It also depends on how much money you spend and earn rewards on.
For example, the Capital One Spark Classic for Business charges no annual fee but only provides 1% cash back on purchases. If you spend at least $4,750 per year, the extra 1% reward you earn with the Capital One Spark Business Cash can offset the annual fee.
Essentially, if you spend more, then you’re better off with the Capital One Spark Business Cash. If you spend less, the Spark Classic could be a better option.
The auto rental collision insurance, purchase protection, and extended warranty protection provided by the Capital One Spark Cash could also add value if you use them — but these perks are also available on the Spark Classic with no annual fee.
What are some lesser-known benefits offered by the Spark Cash for Business?
The ability to download purchase records to multiple formats is one of the lesser-known benefits of the Capital One Spark Cash for Business. This makes accounting easy and can help ensure you’re keeping track of and claiming all tax-deductible expenses for your company.
Purchase protection and extended warranty protection are also lesser-known features that could be beneficial if you find yourself with a new product that gets broken or a product that breaks just after the manufacturer warranty has expired.
Other cards to consider
While competitors such as the SimplyCash Plus Business Card from American Express and the Ink Business Cash Credit Card offer higher rewards for certain types of spending, the Capital One Spark Cash for Business provides a higher flat rate of cash back on all purchases.
However, these competitors don’t charge annual fees and may be a better deal if you won’t be able to take advantage of cardholder perks that justify the annual fee on the Capital One Spark Cash for Business.
Unlimited Cash Back
Capital One Spark Cash for Business
Capital One Spark Cash for Business
One-time $500 cash bonus after spending $4,500 in the first 3 months
See how these cards compare:
SimplyCash Plus Business Card from American Express
- 5% cash back at U.S. office supply stores and U.S. wireless telephone service providers
- 0.0% intro APR offer on purchases
- Baggage insurance plan
- No annual fee
Chase Ink Business Cash Credit Card
- $500 cash back sign-up bonus
- 5% cash back on first $25,000 annually
- 0% Intro APR on purchases for 12 months
- Free employee cards
- No annual fee