Capital One Spark Cash Select for Business Review [2021]: A Simple Rewards Program That Pays Off

If you don’t want to worry about rotating rewards or bonus categories, the Capital One Spark Cash Select for Business could be the card for you.
Last updated Jul 20, 2021 | By Christy Rakoczy

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Many business credit cards offer generous rewards programs, but they charge high annual fees or make their programs complicated to navigate. If you don't want to track bonus points on rotating categories or deal with annual limits on the cash back your company can earn, the Capital One Spark Cash Select for Business might be the card you're looking for.

Even better, this card comes in two different versions so you can pick the one that's the best fit for you. You can choose from the Capital One Spark Cash Select - 0% Intro APR for 12 Months and the Capital One Spark Cash Select - $500 Cash Bonus.  

This Capital One Spark Cash Select for Business review will explain the differences between these two cards and help you decide if one of them is the card your business has been looking for.

Flat 1.5% Cash Back & 0% Intro APR

Annual Fee

$0

Rewards Rate

unlimited 1.5% cash back

Benefits and Drawbacks

Benefits

  • 0% intro APR on purchases for 12 months
  • Unlimited 1.5% cash back
  • Free employee cards
  • No annual fee

Drawbacks

  • Other cards may earn higher rewards for bigger spenders
  • No welcome bonus
Card Details
  • No cap on cash back rewards
  • unlimited 1.5% cash back on all purchases on all cards attached to the account
  • Intro purchase 0% offer: 0% for first 12 months then 15.99%, 20.99%, or 23.99% (variable)

Flat 1.5% cash back & no annual fee

Intro Offer

$500

Annual Fee

$0

Rewards Rate

unlimited 1.5% cash back

Benefits and Drawbacks

Benefits

  • $500 cash bonus welcome offer
  • Unlimited 1.5% cash back
  • Free employee cards
  • No annual fee

Drawbacks

  • Other cards may earn higher rewards for bigger spenders
  • No intro APR offer
Card Details
  • Earn a $500 cash bonus after spending $4,500 in the first 3 months
  • unlimited 1.5% cash back on all purchases on all cards attached to the account

Who should get this card?

Are you hoping to avoid paying an annual fee for a bunch of cardholder perks you probably won't use? Or do you want an effortless credit card rewards program you don't have to think about? Do you want to get added protections for every purchase you make?

If you answered yes to any of these questions, consider submitting a credit card application for the Capital One Spark Cash Select for Business. This card comes in two different version so you can choose either a welcome bonus or an intro APR depending on the needs of your business.

You can also get free cards for your staff to earn rewards faster and redeem your cash back anytime you want with no limits or expiration dates.

And if all that wasn't enough, purchase protection ensures you can get eligible items repaired or replaced within 90 days of buying if something goes wrong — and eligible items purchased with your card will have the manufacturer's warranty doubled.

To get all these features, however, you'll need to make sure you're creditworthy, as this isn't a business credit card for people with no credit.

Card basics

Capital One Spark Cash Select - 0% Intro APR Capital One Spark Cash Select - $500 Cash Bonus Capital One Spark Cash Select - $500 Cash Bonus
Card Type Business Business
Card Issuer Capital One Capital One
Annual Fee $0 $0
Welcome Bonus None Earn a $500 cash bonus after spending $4,500 in the first 3 months
Recommended Credit Score Excellent Excellent
Intro APR 0% APR on purchases for first 12 months None
Foreign Transaction Fee None None

Top card benefits

  • Decent early spend bonus: If you choose the version with the bonus, then you can earn a $500 cash bonus after spending $4,500 in the first 3 months. Though not the highest bonus on the market, it’s a nice perk that should be relatively easy for most business owners to earn.
  • Easy-to-follow rewards structure: Get a straightforward unlimited 1.5% cash back on all purchases on all cards attached to the account. There are no limits and no rotating bonus categories to worry about.
  • 0% intro APR on purchases: If you choose the version with the intro APR, then you’ll enjoy a 0% interest rate on new purchases during the first first 12 months after opening the card, making this version of the Capital One Spark Cash Select an ideal choice if your company needs to pay off big buys over time.
  • No annual fee: Unlike many other business cards, there's no annual fee for becoming a card holder with either version of this card.
  • Free employee cards: Whichever one of these two business cards you choose, you can get credit cards for every member of your staff and earn rewards from all the purchases they make.

Earning and redeeming

One of the best things about the Capital One Spark Cash Select for Business is that the rewards program is incredibly simple. So you don't have to think about strategizing at all to get the most bang for your buck from this card.

Best ways to earn

Capital One's Spark Cash Select for Business simply provides unlimited 1.5% cash back on every purchase. There's no opportunity to earn bonus rewards, but you also don't need to worry about activating bonus categories or focusing your spending on specific things such as shopping or travel.

To maximize the rewards you earn, simply use your card for as many business purchases as you can. And don't forget to take advantage of the option to get free cards for all your employees so they can charge their purchases and help you earn rewards faster.

However, be careful not to rack up too big of a bill. If your account balance isn’t paid off before the intro APR expires, you’ll start paying interest fees — which would eat into all that cash back you earned.

Maximizing your redemptions

Redeeming your rewards is also very simple with Capital One's Spark Cash Select for Business. You can access the cash back you earn as a statement credit or a check. You can redeem any time you want to with no minimums, so you can put cash back right into your business.

If you want to make the redemption process even more effortless, you have the option to set up preferences for automatic redemption. You can choose to redeem your cash back at a specific time each calendar year. Or you can opt to automatically redeem once you've hit a specific rewards threshold, such as $50, $500, or $1,500. When you set up automatic redemption, you don't ever have to think about requesting cash back.

Capital One also allows you to redeem for credits for previous purchases or gift cards. But since you don't get any extra value for your cash back by taking advantage of these options, it's usually simpler to just get a check or statement credit.

FAQs

Does Capital One cash back expire?

Capital One Cash back never expires, so you don't need to worry about losing the rewards you've earned with your Spark Cash Select for Business.

How does cash back work with Capital One?

Capital One makes it easy to earn cash back with the Spark Cash Select for Business since you simply get unlimited 1.5% cash back on every purchase. However, balance transfers and cash advances don't count as purchases, so you won't get any cash back when you complete these transactions with your card.

You can redeem cash back for a statement credit or request a check. And you can redeem manually anytime you want with no minimum redemption limit. You can also set up automatic redemption once you hit a specific threshold — starting at $25 and increasing from there — or at a specific time in the calendar year.

What is considered excellent credit?

The Capital One Spark Cash Select for Business requires you to have an excellent credit score. Capital One doesn't specify a specific minimum score in order to successfully apply for this card. A FICO score of 749-799 is considered "very good" and a score over 800 is considered "exceptional."

How do I redeem my Capital One Spark rewards?

To redeem your rewards, log into your Capital One account and navigate to the “Redeem Rewards” page. From there, you can select the amount you want to redeem and how you’d like the rewards delivered to you.

If you don't want to manually redeem rewards each time, you can also log into your account and set up automatic redemption.


Other cards to consider

Not sure that the Capital One Spark Cash Select - 0% Intro APR for 12 Months or the Learn How to Apply">Capital One Spark Cash Select - $500 Cash Bonus is right for you? There are a few other business cards to consider:

The Capital One Spark Cash for Business offers many of the same card features of the Spark Cash Select, including purchase protection and extended manufacturer warranties. This card charges a $150 annual fee after the first year, but it offers unlimited 2% cash back on all spending.

The Chase Ink Business Unlimited, on the other hand, provides the same unlimited 1.5% cash back as the Capital One Spark Cash Select Business does and also charges a $0 annual fee. The new cardmember sign-up bonus is more generous on this Ink card, though, as you can earn $750 bonus cash back after spending $7,500 in the first 3 months.

You also get a 0% intro APR period for 12 months on the Chase Ink Business Unlimited — longer than the one offered by Capital One.

Flat 1.5% cash back & no annual fee

See how these cards compare:

Capital One Spark Cash Plus
Capital One Spark Cash Plus
  • Up to $1,000 cash welcome bonus
  • 2% unlimited cash back
  • Charge card with no preset spending limits
  • $200 cash bonus every year you spend $200,000 or more
Chase Ink Business Unlimited Credit Card
Chase Ink Business Unlimited Credit Card
  • New Offer: $750 cash back sign-up offer
  • Unlimited 1.5% cash back on all spending
  • 0% APR for 12 months on purchases
  • No annual fee

Author Details

Christy Rakoczy Christy Rakoczy has a Juris Doctorate from UCLA Law School with a focus in Business Law, and a Certificate in Business Marketing with an English Degree from The University of Rochester. As a full-time personal finance writer, she writes about all things money-related but her special areas of focus are credit cards, personal loans, student loans, mortgages, smart debt payoff strategies, and retirement and Social Security. Her work has been featured by USA Today, MSN Money, CNN Money and more, and you can learn more at her LinkedIn profile.