Bankcheckingsavings has partnered with CardRatings for our coverage of credit card products. Bankcheckingsavings and CardRatings may receive a commission from card issuers.
The Capital One Spark Cash 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 – new cardholders can earn a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening.
Update 12/27/24: You’re able to earn an unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
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.
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 Summary
 The Capital One Spark Cash offers a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening. You're able to earn an unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions. Free employee cards, which also earn unlimited 2% cash back on all purchases Rewards won't expire for the life of the account, and you can redeem your cash back for any amount This card does come with no foreign transaction fees and $0 annual fee for the first year; $95 after that. |
Capital One Spark Cash Bonus
Earn a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening.
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 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, 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.
Bankcheckingsavings has partnered with CardRatings for our coverage of credit card products. Bankcheckingsavings and CardRatings may receive a commission from card issuers.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
