Capital One Spark Cash Plus Card Review: Simple Cash Back on Business Spending
A business credit card can make it easier to manage cash. Some business credit cards even reward you with cash back.
The offers unlimited 2% cash back on business purchases.
This card is unique in having no annual percentage rate (APR). That's because you pay your balance in full each month.
If you regularly charge shipping, office supplies, utilities or travel for your business, the Capital One Spark Cash Plus Card could prove rewarding.
Before applying, it helps to know more about how the card works. Our review takes you through the main features and benefits you can expect to enjoy.
Capital One Spark Cash Plus Credit Card Pros & Cons
Main Highlight: Unlimited Business Cash Back Rewards
The Capital One Spark Cash Plus Card is a flat-rate cash back rewards card.
When you open an account for your business, you can earn unlimited 2% cash back. That rewards rate applies to virtually anything you charge for your business, including:
- Office supplies
- Internet and cellphone service
The card's rewards structure offers flexibility for business owners, since there are no rewards tiers or rotating bonus categories to manage.
Cash back rewards are unlimited and there's no preset spending limit. Instead, your spending limit can fluctuate over time based on your spending patterns, payment history and credit profile.
The Capital One Spark Cash Plus Card offers an introductory cash rewards bonus. You'll need to meet a minimum spending requirement to qualify for the welcome bonus.
You can also get a yearly cash bonus with this card.
The bonus is worth $200 every year when you spend $200,000 or more. That's on top of the 2% in cash rewards you earn on purchases.
This card is designed with big spenders in mind. For example, if you normally charge $250,000 a month in purchases for your business, you could earn $60,000 in cash back each year.
Pay No Interest on Purchases
The Capital One Spark Cash Plus Card is designed to help business owners save money on interest.
This card has no APR. Instead, you pay your balance in full each month.
So your minimum payment due is always equal to your balance. In that sense, it's more like a charge card than a credit card.
If you can't pay in full, you still won't pay an APR. But you will be charged a 2.99% monthly late fee. This fee applies to the entire balance due.
What Else Do You Get With the Capital One Spark Cash Plus Card?
The Capital One Spark Cash Plus Card comes with some features and benefits that could make running a business easier.
The main highlights of this card, apart from the rewards program, include:
- Automatic payments
- $0 fraud liability
- Itemized year-end summaries
- Dedicated account manager
- Purchase records
- Virtual card numbers
- Payment flexibility
- Free employee cards with customizable spending limits
- Roadside assistance
- Extended warranty protection
- Fraud and security alerts
This card also includes a lock feature in case your card is lost or stolen. Overall, these benefits can help with tracking and managing cash flow while keeping your account safe.
Card APR & Fees
The Capital One Spark Cash Plus Card has only two fees you need to worry about.
The first is the annual fee of $150. Compared to other business rewards cards, this is a bit higher.
But you could easily earn back the fee and then some if you're charging business purchases regularly. If you charge enough to qualify for the $200 annual cash bonus, for example, that can cancel out the annual fee.
Then there's the 2.99% monthly late fee.
This fee only kicks in if you don't pay your balance in full by the due date. So if you're diligent about paying in full each month, you won't have to worry about this one at all.
Capital One Spark Cash Plus Card vs. Other Rewards Cards
The Capital One Spark Cash Plus Card is just one cash back rewards card you might consider for business.
Here are some other options you can compare it to.
Capital One Spark Cash Select
Capital One Spark Cash Select Business Credit Card Pros & Cons
The offers unlimited 1.5% cash back on business purchases.
That's slightly lower than the Spark Cash Plus Card. But you can qualify for this card with good credit, versus the excellent credit that's needed for Spark Cash Plus.
This card also allows you to carry a balance month to month, with interest. There's an introductory APR for purchases, which may be good if you're planning a large business purchase.
You'll pay no annual fee for the Capital One Spark Cash Select Card, which is a money-saver. But this card doesn't offer an introductory or annual cash bonus.
Chase Ink Business Cash
Chase Ink Business Cash Credit Card Pros & Cons
The offers a tiered rewards program.
With this card, you can 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 year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year
- 1% unlimited cash back on all other purchases
There's also a generous introductory cash rewards bonus.
You'll pay no annual fee for this card and you could earn more cash back compared to the Capital One Spark Cash Plus Card. But this depends on how you spend since rewards are tiered.
And you'll pay interest on purchases if you carry a balance month to month.
American Express Blue Business Plus
See Rates & Fees. Terms apply.
Blue Business Plus® Card from American Express Pros & Cons
The allows you to earn points instead of cash back.
With this card, you can earn:
- 2X Membership Rewards points on the first $50,000 in purchases each year
- 1X Membership Rewards point per dollar thereafter
Membership Rewards points can be redeemed for statement credit, cash, gift cards and travel. Redemption value varies but generally, you'll get the most mileage from your points when you use them for flights.
This card has no annual fee and you have the option to pay over time with interest. You can also benefit from Expanded Buying Power, which allows you to make purchases above your credit limit as needed.
Business Cards vs. Personal Cards
Business credit cards and personal credit cards aren't the same.
A business credit card is designed to help you pay for things for your business. Personal cards, on the other hand, are designed for personal spending.
In terms of other differences, business credit cards tend to have rewards that are tailored to how businesses spend. For example, you might get rewarded for purchases at office supply stores or for using your card to pay utility bills.
Personal cards can offer rewards for personal expenses. So you might have a card that pays you cash back on groceries or one that earns points for dining.
There can also be differences in the fees, APR, features and benefits.
For example, a premium business travel rewards card might come with business lounge access and a triple-digit annual fee.
A premium personal travel rewards card might have an annual fee that's under $100 and offers limited airport lounge access.
If you run a business, it can be helpful to have a business card and a personal card. This way, you're always earning rewards when you spend.
How to apply for a business credit card
Applying for a business credit card isn't that different from applying for a personal credit card.
The biggest difference lies in the information you'll need to share.
For example, to apply for the Capital One Spark Cash Plus Card, you'll need:
- Legal names for all business owners
- Addresses for all business owners
- Social Security numbers for all business owners
- Your business's legal name
- Your business's address
- Business tax identification numbers (TIN)
You may also be asked about your business's annual revenues and which industry you belong to. And you may need to share how many employees you have if any.
If you're starting a brand-new business you might be wondering if you can get a business credit card.
Technically, you could if you're able to show personal income and a solid credit score.
Final Verdict: Should You Apply for the Capital One Spark Cash Plus Card?
The Capital One Spark Cash Plus Card makes it easy to earn cash back for business purchases.
This card may be right for you if:
You prefer flat-rate rewards to a tiered rewards program
You're more interested in earning cash back for your business than miles or points
You're comfortable paying your balance in full each month
This card can be good for everyday business spending or travel. It's particularly well-suited to higher spenders that want to earn the same rewards rate everywhere they go.
Keep in mind that you will need to pay in full to avoid the monthly late fee. So if you need more flexibility with payments, you might want to consider a different business rewards card.
Overall, the Capital One Spark Cash Plus Card could be a good fit for businesses that want simplicity with a competitive rewards rate.