Capital One Spark Cash for Business Review: 2% Cash Back All The Time

Capital One Spark Cash for Business Review: 2% Cash Back All The Time

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Editor's Rating

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  • On Capital One's Secure Website

Editor's Rating

?

  • On Capital One's Secure Website

The Capital One Spark Cash for Business is an excellent card for business owners who want to earn an uncapped 2% Cash Back for your business on every purchase, everywhere. The more you spend, the more you're putting back into your business.

The Capital One Spark Cash for Business is one of the best cashback business cards out there. With an unlimited earning rate of 2% Cash Back for your business on every purchase, everywhere, you'll be making money whenever you spend, regardless of the category. There is no minimum required in order to redeem your cash back and your earning potential is uncapped. This card also has an annual fee of $0 intro for first year; $95 after that.

The card comes with some other valuable perks for business owners, including free employee cards and the flexibility to purchase above your credit limit and earn unlimited rewards with no hassle and no over-limit fees. The only major drawbacks with this card is that it does have a fairly high APR and requires strong credit in order to be approved.

Capital One Spark Cash for Business

  • On Capital One's Secure Website

$0 intro for first year; $95 after that

20.99% (Variable)

Excellent/Good

  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • Purchase above your credit limit with no hassle and no over-limit fees
  • $0 annual fee for the first year; $95 after that
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • $0 Fraud Liability if your card is lost or stolen
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • No foreign transaction fees

Pros

  • High, uncapped rewards rate
  • No foreign transaction fees
  • Attractive sign-up bonus
  • Free employee cards
  • Rewards don't expire
  • No annual fee the first year
  • Spend above your limit

Cons

  • Annual fee after the first year
  • High APR with no intro offer
  • Good credit requirement
  • No bonus spending categories
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Capital One Spark Cash for Business benefits

The Capital One Spark Cash for Business has better than average benefits, allowing cardholders to earn unlimited 2% cash back on all spending categories. This card also comes with a generous sign-up bonus and some other solid perks business owners will find valuable.

Annual fee

This card waives the annual fee in the first year: You pay $0 intro for first year; $95 after that. The annual fee is moderate compared to other annual fee cards. If you take proper advantage of the 2% cashback rewards offered by this card as well as its sign-up bonus, those benefits more than make up for the annual fee.

Sign-up bonus

New cardmembers will earn Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.

This is one of the highest cashback bonuses available for business credit cards. The spending threshold is also very reasonable, especially considering the high value of the bonus.

Who’s eligible to earn this offer? Among the restrictions on this offer, Capital One mentions that you are not eligible for the sign-up bonus if you’ve applied for a Capital One card two or more times in the past 30 days, or you currently have five or more credit cards open with Capital One.

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Earning rate

The Capital One Spark Cash for Business allows you to get 2% Cash Back for your business on every purchase, everywhere, regardless of the spending category.

The more you spend, the more you'll receive in cash back for your business. While you can possibly earn more rewards through a card with bonus categories — especially one that allows you to redeem rewards for travel — if you want simplicity, the is one of the best ways to go.

Who is the Capital One Spark Cash for Business best for?

The Capital One Spark Cash for Business is best for business owners who typically spend a lot on their credit card. With the Spend Above Your Limit feature, you won't have to worry about over-limit fees when you overspend on your credit limit, and can still earn rewards on those purchases. This card is flexible when it comes to picking a monthly due date for your payments, so it's great for businesses that are newly established and working through startup costs.

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Redeeming rewards

Redeeming your rewards is simple and the value of cash back is indisputable. You can redeem your cashback rewards as a statement credit for any amount at any time with no expiration date for the life of the account.

Other benefits

  • No foreign transaction fees – Pay no foreign transaction fees on purchases made outside the U.S. This benefit can save business owners a lot of money if they frequently travel internationally.
  • Free employee cards – Free employee cards allow business owners the ability to track employee spending while earning all the rewards from their purchases.
  • Fraud coverage and alerts – This Capital One business card offers zero fraud liability if your card is lost or stolen. Plus, get automatic fraud alerts via text, email or phone call.
  • Spend Above Your Limit feature – This card gives you the flexibility to purchase above your credit limit and earn unlimited rewards with no hassle and no over-limit fees.
  • Payment flexibility – With payment flexibility, you have the option to pick your own monthly due date. Your business has the control to pay when you want.
  • Roadside assistance – Another added benefit of this card is roadside assistance, which offers services to help you during auto-related emergencies, such as jump-starting, tire changing and towing.

Applying for the Capital One Spark Cash for Business

The Capital One Spark Cash for Business is designated for businesses with Excellent/Good credit.

Once you're approved for this card, you'll have the flexibility to spend over the Capital One Spark Cash for Business credit limit with their Spend Above Your Limit feature, which is likely a factor in why the card requires a strong credit score.

Alternative business card options

One of the primary reasons a business owner would want to get the Capital One Spark Cash for Business is to take advantage of the competitive flat rewards rates. Companies with broad spending patterns will benefit from this type of rewards structure. However, if your small business tends to spend significantly in one specific category, other business cards may have more value for you.

Capital One Spark Cash Select - $500 Cash Bonus

  • On Capital One's Secure Website

The Capital One Spark Cash Select - $500 Cash Bonus is a great alternative to the Capital One Spark Cash for Business. The most notable difference between these two cards is that the Capital One Spark Cash Select - $500 Cash Bonus comes with a $0 annual fee, but a lower cashback rate: 1.5% Cash Back on every purchase, everywhere, no limits or category restrictions.

This difference in annual fees will be exacerbated in the second year, once the Capital One Spark Cash for Business’s annual fee kicks in.

Ink Business Cash® Credit Card

  • On Chase's Secure Website

The Ink Business Cash® Credit Card is a great example of a card that would benefit business owners that tend to spend a lot in its bonus categories This card allows cardholders to 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

The Ink Business Cash® Credit Card has a $0 annual fee and additional cards for employees are provided at no extra cost. For business owners who prefer to maximize their spending in particular categories, this card may be a better choice than the Capital One Spark Cash for Business, which simply offers a flat rate of 2% Cash Back for your business on every purchase, everywhere.

Is the Capital One Spark Cash for Business worth it?

Yes, in our opinion, the Capital One Spark Cash for Business is worth it if you're a business owner who values flexibility and high cashback rewards. If you typically spend significantly across a variety of categories, you will certainly benefit from earning unlimited 2% Cash Back for your business on every purchase, everywhere.

The simplicity of this rewards structure gives business owners the peace of mind of knowing they're earning cash back on every purchase. Business cards that offer higher rewards rates often limit their awards to travel. The benefit of earning cash back is that you always know the value of your rewards and you can even put those rewards right back into your business.

Capital One Spark Cash for Business FAQs

What is the Capital One Spark Cash for Business credit limit?

The credit limit you will receive with the Capital One Spark Cash for Business will depend on your personal credit profile, credit score and credit history. However, the card offers automatic credit line reviews, which means you will be automatically considered for a higher credit line in as little as six months.

Is Capital One Spark Cash for Business a good card?

Yes, the Capital One Spark Cash for Business is a good card for business owners who spend significantly over a variety of different spending categories. With this card, you'll earn unlimited 2% Cash Back for your business on every purchase, everywhere, plus Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.

What is Capital One Spark Cash for Business?

The Capital One Spark Cash for Business is a business credit card that offers a high percentage of cash back on every purchase. Business owners are likely to take advantage of this card for its high rewards rates and business-related benefits.

What are the Capital One Spark Cash for Business requirements?

The Capital One Spark Cash for Business requires Excellent/Good credit for approval. In order to apply for this card you'll need to input some basic personal information and information relating to your business, including your business’s total annual revenue and your business Tax ID Number or Employer ID Number.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

  • On Capital One's Secure Website