The Capital One Spark Cash for Business has a simple rewards structure that pays an unlimited 2% cash back on every purchase. It comes with an annual fee of $95 per year, waived for the first year. There are no bonus categories to deal with and no spending caps to worry about.
If you’re one of those who don’t like figuring out the mess on how you can maximize the value of your points, the Capital One Spark Cash takes away all the guessing since you’ll earn the same 2% cash back on all your business spending. The no annual fee version of this card, the Capital One Spark Cash Select for Business, earns at a 1.5% rate.
This means, you won’t be getting over-the-top returns that other credit cards offer with their bonus categories. However, if you’re looking for something easy to use while earning rewards, this card may be worth it in return for some savings.
It also works well when you pair it up with one that offers bonuses on categories, such as travel and dining or office supplies. Nonetheless, this depends on the types of spending your business does most.
New cardholders can earn one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.
If you’re interested for more offers from Capital One, check out all the ongoing Checking/Savings account bonuses!
Editor’s Note: If you have a side business such as selling on eBay, Craigslist, or do freelance work, then your business is called “sole proprietorship.” Simply use your name as business ID and Social Security number as tax ID.
Capital One Spark Cash for Business Summary
Bonus Available | Earn one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening. |
*Bonus Value | $500 |
Ongoing Rewards/Benefits | Unlimited 2% cash back on all purchases.
Employee cards at no extra cost. |
Foreign Transaction Fees | None |
Annual Fee | $95; waived your first year |
Editor’s Alternate Pick
The Ink Business Cash® Credit Card offers $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. You'll earn: • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year • 1% cash back on all other card purchases with no limit to the amount you can earn. • 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost. |
Capital One Spark Cash Bonus Cash
Take advantage of the Spark Cash card’s $500 bonus cash introductory offer. To qualify, earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.
Here are some ideas on meeting the spending requirement:
Redeeming Your Spark Cash Rewards
It’s simple to redeem rewards with the Capital One Spark Cash. Redeem your earned cash back in any amount, either in the form of a statement credit or a check. This is the best way to redeem your rewards for the maximum value.
You can also set up automatic redemption at a set time each calendar year or when you hit a specific amount in earned cash back. You can also redeem for credits for previous purchases or for gift cards, although redemption values vary.
Other Cardholder Benefits
The Capital One Spark Cash for Business does not come with travel benefits high-end business rewards cards offer. Nonetheless, it does come with standard Visa Signature perks. These include:
- Auto Rental Collision Damage Waiver: Decline the rental car company’s collision insurance when you rent a car for business purposes using the Spark Cash for Business. You’ll be covered up to the cash value of the vehicle in the case of theft or collision damage. This is valid on most rentals in the U.S. and internationally. Coverage is primary if the vehicle rental is for commercial and/or business purposes. Thus, you can make a claim without involving your own personal car insurance policy.
- Purchase Protection: Get your new purchases covered for up to 90 days against damage or theft up to $10,000 per claim.
- Employee cards at No Additional Cost: Get employee cards at no additional cost. You’ll earn the same 2% cash back on them as well. You can establish individual spending limits for your employees who use this card.
- Lost Luggage Reimbursement: When you charge your ticket to your card, your checked or carry-on luggage is covered up to $3,000 if it’s lost or stolen.
- Quarterly & Year-End Summary: Get a custom, itemized report of your spending to help simplify planning, budgeting, and tax time.
- No Foreign Transaction Fees: You won’t pay a transaction fee when making purchases outside of the U.S.
Conclusion
With the Capital One Spark Cash for Business, if you value simplicity and have expenses high enough to justify the fee, it’s a great card to get.
However, if you don’t have a lot of business expenses, a no-fee card is a better option. In addition, there are many other business credit cards on the market that will earn a greater return than what the Capital One Spark Cash offers.
Nonetheless, it’s excellent for business owners who don’t want to mess with bonus categories or point redemptions. It’s also a great second card if you’re looking to boost your earning on everyday non-bonus spending.
And, if you travel internationally often, this card is also nice to have for those purchases, as it charges no foreign transaction fees.
If none of these benefits entice you, check out our list of Credit Card Promotions or other Capital One credit cards to find a card that best suits you.
What’s the Competition?
* Below are some of the top competitors to Capital One Spark Cash for Business to consider.
The Ink Business Preferred® Credit Card offers 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase TravelSM. You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase TravelSM. This card does come with a $95 annual fee but does not have any foreign transaction fees. |
The Ink Business Cash® Credit Card offers $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. You'll earn: • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year • 1% cash back on all other card purchases with no limit to the amount you can earn. • 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost. |