New applicants can earn a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
Enjoy this no-frills business rewards card that offers straightforward cash back for every purchase. It’s designed for small business owners who want to cut costs and increase revenue, but don’t want to bother with complicated rewards. However, the annual fee version, the Capital One Spark Cash for Business, earns at a higher rate.
Capital One offers several “Spark” business cards. Their “Spark Miles” products will earn rewards at a similar rate to their “Spark Cash” counterparts. If you’re fond of earning more value out of your points or miles, rewards with the Miles cards are used toward travel and can be worth more now that Capital One has 10+ transfer partners.
Most small business credit cards, like the Ink Business Cash Credit Card or the Blue Business Cash from American Express, give their highest rewards to select categories, such as office supplies, dining, and travel. When you charge other things to these cards, you generally get no more than 1% back. If you’re interested in a simple, fixed-rate rewards program the Spark Cash Select is a good choice.
Table of Contents
Spark Cash Select for Business Summary
Earning The Capital One Spark Cash Select $200 Bonus
Take advantage of the Spark Cash Select card’s $200 bonus cash introductory offer. That’s an excellent bonus considering it comes with no annual fee.
To qualify, charge at least $3,000 to your card within the first 3 months of opening your account. Though that may sound much, here are some ideas on meeting the spending requirement:
|• Plastiq: Plastiq allows you to pay for expenses that you generally won’t be able to with your card like rent, tuition, auto lease, mortgage payment, and more. There’s a 2.5% processing fee for using your credit card. However, this’ll be worth the card bonus you’ll get. There’s also a referral program where you can earn “Fee-Free Dollars” to use towards processing fees. See our Plastiq review.|
|• Fund Checking accounts with your card: Many banks will allow you to fund the opening deposit with a credit card. Consider opening Checking accounts that also offer a sign-up bonus. This way, you can work towards bonuses from two different sources. Big banks like Chase, HSBC, Huntington, and TD Bank have great offers and allow credit card funding. You can generally fund anywhere from $50 to $1,000 towards the opening deposit with a credit card, depending on the bank.|
|• Buy gift cards: Consider buying gift cards with your credit card that you can then spend later at your leisure. Individual merchant cards (restaurants, gas stations, supermarkets, etc.) generally don’t have purchase fees, so this is a plus. On the other hand, American Express and Visa gift cards will have purchase fees. Amazon gift cards are a great idea as you can shop for almost anything there with no purchase fees either. Unfortunately, Citi credit cards tend to code gift card purchases as Cash Advances and there’ll be a fee. Call in to customer service and lower your Cash Advance limit to $0 before purchasing gift cards. You can also buy discounted gift cards as well from Raise or find gift cards on eBay.|
|• Everyday spending & bills: Always using your credit card for everyday spending, such as for dining, gas, groceries, etc. You can also use your credit card to pay for things like insurance bills, property taxes and income taxes. However, you’ll have to consider the convenience fees.|
Earn An Unlimited 1.5% Cash Back
You’ll earn unlimited 1.5% cash back on all purchases with the Spark Cash Select from Capital One. Your cash back will not expire as long as your account is open.
There are also no foreign transaction fees, so it can be a good card to use if you’re outside the U.S. Plus, you don’t have to pay more to add employee cards to your account.
Manually redeem the cash back you earn with the Spark Cash Select as a statement credit or as a check. Statement credit is usually the easiest way to redeem.
Capital One also provides an automatic redemption system you can set up. This will automatically redeem your cash back at either a set time every year or when it reaches a specified threshold.
You can also redeem your cash back for certain purchases, gift cards, and other expenses. These methods are subject to change and won’t always grant the full value of 1 cent for every 1 cent you’ve earned. So, it’s usually best to just redeem for statement credits.
The Capital One Spark Cash Select for Business offers several perks to help out when shopping. You’ll get Purchase Security to cover your items against theft and damage. Extended Warranty to protect your purchases longer than usual. You’ll also get some travel protections with these cards, like Travel and Emergency Assistance. Auto Rental Collision Damage Waiver to lighten the cost of your car rentals. Plus, Roadside Dispatch service for on-the-road emergency referrals, like tire changes and towing. Travel Accident Insurance and Lost Luggage Reimbursement service are also included. Some more perks for this card include:
- Free Employee Cards: Get an unlimited number of employee cards to distribute to your employees, and earn rewards every time they use them. You can set individual credit limits for the cards.
- 24/7 Concierge Service: The number on the back of your card can provide you with non-emergency help with a variety of tasks. These include making travel arrangements, getting tickets to events or reservations at restaurants, and finding hard-to-find gifts.
- No Foreign Transaction Fees: Many credit cards carry a foreign transaction fee of about 3%. Thus, they can easily wipe out the value of any rewards you earn. With this card, you get to keep all the rewards you earn without paying that fee.
- Visa SavingsEdge: Get up to 15% off at merchants when you shop through the Visa SavingsEdge shopping portal. You’ll find deals at gas stations, hotel chains, restaurants, office supply merchants, tech websites, and more.
- Visa Signature Luxury Hotel Collection: Frequent travelers can get a variety of perks, discounts, and complimentary services at over 900 hotels around the world, including most of the top brands.
With the Capital One Spark Cash Select for Business, you can earn an unlimited 1.5% cash back on all business expenses. This is great for companies that spend less than $19,000 per year.
For companies that spend over $19,000 per year, the Capital One Spark Cash for Business may be a better option for you. It earns an unlimited 2% cash back instead and comes with a $95 annual fee, waived the first year. As you spend more, the difference in cash back you’ll earn will grow more in favor of the Spark Cash card.
Nonetheless, the Spark Cash Select is a solid choice is great for small business owners who don’t want to keep track of bonus categories or want to avoid extra fees. However, if your business spends thousands of dollars a year on a credit card or you spend a lot in another card’s bonus category, you can probably earn a richer return elsewhere. See all the credit card promotions and their reviews offered here on BCS!
Learn more about this card and find out how you can apply here.
Other Credit Cards To Consider
Good Options From Chase:
The Chase Ink Business CashSM Card offers $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from 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, & % cash back on all other card purchases with no limit to the amount you can earn.
This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost & the 0% introductory APR for 12 months on purchases.
The Chase Ink Business PreferredSM Card offers 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
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 Ultimate Rewards.
This card does come with a $95 annual fee but does not have any foreign transaction fees.
|Chase Business Complete BankingSM||$300 Cash||Review|
|Chase Total Checking®||$200 Cash||Review|
|Chase SavingsSM||$150 Cash||Review|
|Chase Private Client||$2,000 Cash||Review|
|HSBC Premier Checking Member FDIC||$450 Cash||Review|
|HSBC Premier Checking Member FDIC||Up To $600||Review|
|HSBC Advance Checking Member FDIC||$200 Cash||Review|
|HSBC Advance Checking Member FDIC||Up To $240||Review|
|BBVA Online Checking + Savings||$250 Cash||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Huntington 25 Checking||$500 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
|Axos Bank Basic Business Checking||$100 Cash||Review|
|Ally Invest||Up to $3,500 Cash||Review|