Capital One® Spark® Cash For Business Review
$500 in bonus cash after spending $4,500 in the first three months
2% cash back on all purchases
$0 annual fee for the first year; $95 after that
The Capital One® Spark® Cash for Business offers good value to companies looking for a straightforward cash back credit card. Here’s an in-depth look.
Business owners can now accrue cash back on their expenses with the Capital One® Spark® Cash for Business.
Designed for users with excellent credit, the Capital One® Spark® Cash for Business offers a cash back program designed for companies that are growing, and can act as a main card for office purchases and payments.
With free additional cards that can help accelerate reward accumulation, as well as a straightforward unlimited earn rate, the Capital One® Spark® Cash for Business represents a great solution for small and medium-sized companies seeking a reliable card and a savings boost.
Overall, we recommend it as a primary office card. Or, even for entrepreneurs who want to create a business credit record and earn cash back at a competitive rate.
- Ideal for excellent credit: This card requires good to excellent credit, though it’s not uncommon for most companies with positive cash flow to meet the requirements. If you’re not sure what your score is, check out our Credit Score Estimator Tool.
- Great introductory rewards: New cardholders can earn $500 cash back. A $500 cash rewards bonus is offered when you spend $4,500 in purchases within the first three months of opening their account. It may seem high, but a lot of businesses can hit the mark with everyday expenses.
- High penalty APR: While the card does offer a competitive APR, payments must be made on time or cardholders may incur a penalty APR on unpaid accounts.
- No-cost additional cards: If you’re looking to supply your team with company cards, the Capital One® Spark® Cash for Business lets you add more cards at no extra cost. Even better, secondary cards still earn the same amount of cash back, which is rare in this category.
- Unlimited cash back: Unlike some cards that are accompanied by complex rewards plans, the Capital One® Spark® Cash for Business earns cash rewards at an unlimited single rate for purchases across your business.
If you’re looking to extract the maximum value out of your business card, read on and find out what the Capital One® Spark® Cash for Business fine print means for you.
Straightforward cash rewards program
One of the biggest advantages of the Capital One® Spark® Cash for Business is its superb cash back program. Unlike other cards that offer tiered rewards and caps on accruing them, the Capital One® Spark® Cash for Business card earns a single flat cash back rate of 2 percent. No matter what the card is used for, or how many times, every dollar spent returns cardholders the same amount. Moreover, cash rewards do not expire, remaining active as long as the account is open. Cash back can also be redeemed for any amount at any time.
Another major plus is the company’s introductory bonus, which gives new members $500 in cash rewards when they spend $4,500 in purchases within three months. In addition, the Capital One® Spark® Cash for Business enables companies facing many daily expenses to earn back some of their outflows to reinvest down the line.
Interest rates and fees
The Capital One® Spark® Cash for Business has a single APR of 18.49% (Variable), and there is no introductory period. The card is designed for users with excellent credit, though other applicants can still find excellent cash back cards for their business. Though the normal APR is average for the industry, companies that cannot make their payment on time may incur a penalty APR. Capital One does sweeten the deal by waiving the first year’s annual fee, which rises to $0 intro for first year; $95 after that annually thereafter.
For companies that constantly have employees on the road and in the air, the Capital One® Spark® Cash for Business is great for global business thanks to no foreign transaction fees. More importantly, you can order as many secondary cards as needed for no extra cost, and they’ll still earn cash back on every purchase.
Built for businesses
In addition to the friendly foreign transaction fee policy, Capital One grants cardholders several perks and features for business that make it well worthwhile. These include fraud coverage for lost or stolen cards, and real-time alerts if fraud attempted via text, email, or phone.
You’ll also have the option to purchase security that for 90 days will replace, repair, or reimburse you for eligible items purchased with your card if damaged or stolen. Even better, Capital One offers a fabulous extended protection warranty free of charge to protect eligible items purchased with your card for up to one year past the manufacturer’s warranty date.
On top of that, the company sends quarterly and year-end summaries that include itemized spending lists to help simplify taxes, planning, and budgeting. Additionally, you can download quick and secure purchase records directly into QuickBooks and Excel for simplified and comprehensive accounting. The card also includes benefits for employees on the road, including auto rental collision damage waivers, travel and emergency assistance, and more thanks to membership in the Visa® Business Benefits program.Apply now
Pros & Cons
- Valuable Rewards on All Purchases — Earn 2% cash back on all purchases, with no limits.
- Great Welcome Bonus — Receive a $500 cash rewards bonus after spending $4,500 in the first three months of card ownership.
- High Annual Fee — $0 intro for first year; $95 after that.
- High Minimum Spending Amount — Earning the $500 cash rewards bonus requires a fair amount of early spending.
Should you get the Capital One® Spark® Cash for Business?
The Capital One® Spark® Cash for Business offers good value to companies looking for a straightforward cash back credit card.
With a no-frills unlimited 2 percent cash back earn rate and no-charge secondary cards, companies can quickly build a sizable cash reward that can be used without restrictions.
Moreover, the card’s many perks for businesses and friendly introductory fees make it an alternative for owners looking to cover their expenses without completely breaking their bank.
Overall, while it lacks higher earn rates accompanying competing cards, the Capital One® Spark® Cash for Business offers a clear and beneficial deal for cardholders alongside strong perks.Apply now