Capital One Spark Cash Select for Business: Should You Get It For Your Business?

Capital One Spark Cash Select for Business: Should You Get It For Your Business?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

The Capital One Spark Cash Select for Business is best described as a jack-of-all-trades, master of none. The card provides a solid 1.5% Cash Back on every purchase While some cards can give you cash back reaching 5%, those typically specialize in a select few categories, like office supply stores or shipping. If you need a card with more flexibility and simplicity, the Capital One Spark Cash Select for Business is a good choice. Note that if your company charges over $19,000 to their credit each year, the 2% Capital One Spark Cash for Business is the better choice, even with its annual fee.

Review: Is The Capital One Spark Cash Select for Business Right For Your Company?

The Capital One Spark Cash Select for Business is an excellent no-annual-fee small business credit card. Cardholders get a solid 1.5% Cash Back on every purchase. This makes it an excellent choice for companies that have very diverse spending patterns that don’t fit a single particular mold. Most small business credit cards, like the Ink Business Cash® Credit Card or the SimplyCash® Plus Business Credit Card from American Express , give their best rewards to a select few purchase categories, like office supplies, dining, travel, etc. When you charge all other things to these cards, you typically get no more than 1% back. If you are interested in a simple, fixed-rate rewards program this is a good way to go.

Businesses that send over $19,000 annually will get better rewards out of the Capital One Spark Cash for Business and its 2% cash back rate. Though it charges an annual fee, the extra boost in rewards overcomes that, provided you meet the spending threshold. Don’t be scared away by the presence of the fee, since in the end your net returns may be better. For example, if you were to spend $15,000 within one year, your rewards with the Capital One Spark Cash Select for Business would amount to $15k x 1.5% = $225. The Capital One Spark Cash for Business, on the other hand, would get you $15k x 2% = $300. Even if you subtract away the annual fee, the Capital One Spark Cash for Business still comes out on top. The net rewards work out to $380 - $95 = $285.

The Capital One Spark Cash Select for Business also comes with a slew of features that small business owners may find useful. These can include things like spending summaries, free employee credit cards and, in some cases, a relationship manager. We break these out in more detail below.

Bottom Line: The Capital One Spark Cash Select for Business is a good option for business owners spending below $19,000 annually, who want a simple no-annual-fee cash back credit card.

Capital One Spark Cash Select for Business Benefits & Features

The Capital One Spark Cash Select for Business awards the same cash back on all purchases, no matter the category. Cash advances and balance transfers do not earn any rewards. The cash back can be redeemed in the form of statement credit or a check. You can set up automatic redemptions that kick-in at certain times of the year or when you meet certain reward thresholds ($25, $50, $100 or $200). The card also currently comes with a $200 sign-up bonus, for which you can qualify for after spending $3,000 on purchases within the first three months.

Benefits to Small Business Owners

The Capital One Spark Cash Select for Business comes with free employee cards. If you are a small business owner with employees who need to make purchases on the go, this is a useful feature. As the main account holder, you have full control over the purchases they make and can freeze cards if you notice any unauthorized purchases are made. All of the purchases also fall under a single bill, which makes expensing business purchases that much easier.

Certain accounts can also be assigned a relationship manager to the account. There are no explicit requirements for who can be assigned this type of feature. It depends on things like your purchase volume, credit limit, the age of your account and the average size of your transactions. This manager can help resolve any issues you may be having with your account, or even offer up special perks and benefits. They can also serve as a middleman between you and the underwriters for the bank. For example, one New York City small business had their credit limit increased with the help of the relationship manager, without having to go through a hard-pull on their credit file. Note that the benefits of having a relationship manager will not always be the same, so your experiences may vary depending on who is assigned to your account.

Finally, all Capital One Spark Cash Select for Business users have access to annual spending reports that can be viewed as a PDF document or downloaded as a spreadsheet. This can be very beneficial come tax time. If your firm uses an accountant, this type of feature is probably less valuable. However, smaller firms with just a few employees can certainly take advantage of the convenience this provides. It saves time from having to chase down receipts.

How Does the Capital One Spark Cash Select for Business Compare to Other Credit Cards?

Before you make a call about whether a card is good for you, it’s helpful to see it against the backdrop of other options. Here are some popular business credit cards you should also consider, and how they stack up against the Capital One Spark Cash Select for Business.

Capital One Spark Cash Select for Business vs Capital One Spark Cash for Business

The Capital One Spark Cash for Business is the better choice for businesses that charge at least $19,000 annually to their credit card. The card awards 2% Cash Back for your business on every purchase, everywhere. This is higher than the 1.5% you get with the Capital One Spark Cash Select for Business. The trade-off for this elevated rewards rate is the introduction of an annual fee: $0 intro for first year; $95 after that. The fee isn’t necessarily bad. The higher rate of cash back pays for itself, if you meet that minimum $19,000 annual threshold. The Capital One Spark Cash for Business also has a significantly better sign-up bonus. Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening

Note: There are two other Spark credit cards – the Capital One® Spark® Miles Select for Business and the Capital One® Spark® Miles for Business. These cards award miles instead of cash back. The miles can be redeemed as travel statement credit, and not cash back. Therefore the cash back Spark cards will always be superior, since they offer you greater flexibility.

Capital One Spark Cash Select for Business vs Ink Business Cash® Credit Card

  • On Chase's Secure Website
{"align":"","buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","className":"AffiliateBanner--context-credit-card","context":" in context: Banner","cssNamespace":"AffiliateBanner","disclaimers":["On Chase's Secure Website"],"isButtonSquare":false,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/2999.jpg","isUnavailable":false,"link":"\/credit-cards\/redirect\/80?url=_capital-one-spark-cash-select-credit-card","name":"Ink Business Cash® Credit Card"}

The Ink Business Cash® Credit Card can be especially beneficial for businesses that have a lot of small office expenses. Cardholders 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 card has $0 annual fee, so if these purchases line up better with the types of business expenses you tend to have, it will be the better card to get.

Capital One Spark Cash Select for Business vs The Business Platinum Card® from American Express

If you’re more interested in luxury rather than saving money on your purchases, this is the card to get. The Business Platinum Card® from American Express is the polar opposite of the Capital One Spark Cash for Business and is intended for a very different type of user. The card comes with many luxury travel perks, including airport lounges, $200 airline travel credit, and elite status with certain hotel chains. All these benefits cause the card to have an extremely high annual fee of $595 (See Rates & Fees).

For rates and fees of The Business Platinum Card® from American Express, please click here.

The information related to the Ink Business Cash® Credit Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

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).