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 - $500 Cash Bonus is a great option for businesses looking for a simple, high-earning cashback card with a $0 annual fee and no foreign transaction fees.

Jump to: Full review

Pros

  • $0 annual fee
  • Decent unlimited earning rate on every purchase
  • Generous sign-up bonus
  • Get cashback rewards for any amount at any time with no expiration date for the life of the account
  • Free employee cards
  • No foreign transaction fees
  • Great business benefits

Cons

  • No intro APR offer
  • No bonus spending categories
  • Need Excellent credit to be approved
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Capital One Spark Cash Select - $500 Cash Bonus

  • On Capital One's Secure Website

$0

13.24% - 19.24% (Variable)

Excellent

  • Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening
  • Earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
  • No annual fee
  • Rewards won't expire for the life of the account
  • Redeem your cash back rewards for any amount
  • Free employee cards, which also earn unlimited 1.5% cash back on all purchases
  • $0 fraud liability if your card is lost or stolen
  • No foreign transaction fees

Review: Is the Capital One Spark Cash Select - $500 Cash Bonus right for your company?

The Capital One Spark Cash Select - $500 Cash Bonus card is a fantastic option for business owners seeking a simple cashback credit card with high rewards, $0 annual fee, no foreign transaction fees and a host of business-related benefits. With this card you'll earn unlimited 1.5% Cash Back on every purchase, with no limits or category restrictions. This is a solid fixed earning rate for companies with diverse spending patterns that wouldn't necessarily benefit from more rewards in bonus categories.

This card provides simplicity and flexibility when it comes to earning and redeeming cashback rewards, while business benefits like free employee cards, extended warranty, roadside assistance and more work to sweeten the deal.

There are very few downsides to this card, but we should mention that many small business credit cards — like the Ink Business Cash® Credit Card, for example — offer higher rewards in particular spending categories. You can typically earn more rewards on your purchases when you spend on categories like office supplies, dining and travel, or whatever the card is offering.

If you know your business tends to spend heavily in a specific category, you may be better off choosing a card that offers extra rewards for those purchases. However, if you're looking for a credit card with a simple, fixed-rate rewards program, this card can be a great choice.

Who is the Capital One Spark Cash Select - $500 Cash Bonus good for?

The Capital One Spark Cash Select - $500 Cash Bonus is a wonderful option for small business owners looking for a straightforward cashback card with solid earning rates across all categories, as well as some solid business-related perks. This card is perfect for those looking to avoid paying an annual fee or foreign transaction fees, but still want to earn rewards.

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Sign-up bonus

The Capital One Spark Cash Select - $500 Cash Bonus card comes with a generous sign-up bonus, especially for a no-annual-fee card.

Cardholders can earn a one-time $500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening.

Reaching the spending requirement should be attainable in order to get a significant amount of cash back, especially if you plan to use your card for a large amount of start-up costs. Not all business credit cards offer a sign-up bonus, or bonuses as big as this one. One example is the other Spark Cash Select credit card offer, which has no annual fee but doesn't include any sign-up bonus whatsoever.

Get a 0% intro APR for 12 months

  • On Capital One's Secure Website

If you care more about saving interest on a purchase for your business than earning a sign-up bonus, you should check out the Capital One Spark Cash Select - 0% Intro APR for 12 Months.

The card offers most of the same features, along with an APR of 0% on purchases for 12 months (followed by a 15.99% - 23.99% (Variable) APR).

You won’t earn a sign-up bonus with this offer — however, you will still get unlimited 1.5% Cash Back on every purchase with a $0 annual fee.

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Earning rate

With the Capital One Spark Cash Select - $500 Cash Bonus, you can Earn unlimited 1.5% Cash Back on every purchase.

This is a great flat earning rate if you're not sure which categories your business will spend the most in, and if you'd prefer the simplicity of knowing you'll earn cash back on whatever charges you put on the card. However, if you prefer a card that offers extra rewards in specific bonus categories (but offers less rewards in all other categories — typically around 1%), then you're likely to find more value with other business credit cards.

If you'd prefer a higher earning rate and don't mind paying a moderate annual fee, you can earn 2% Cash Back for your business on every purchase, everywhere, instead of 1.5%, with the Capital One Spark Cash for Business card.

Business perks

  • Free employee cards: As the primary account holder, you can distribute credit cards to your employees and earn rewards on all their spending on those cards. You can also set a spending limit on your employee cards — plus, you'll be able to see their transactions as soon as they post.
  • Year-end summaries: You'll get an annual itemized report of your spending to simplify budgeting and tax time. In addition, you can quickly and securely download your purchase records into multiple formats including Quicken®, QuickBooks® and Excel®.
  • Payment flexibility: With the Capital One Spark Cash Select - $500 Cash Bonus credit card you have the ability to pick your own monthly due date. This gives your business the control to pay when you want.

Other benefits

The Capital One Spark Cash Select - $500 Cash Bonus doesn’t charge foreign transaction fees, which can end up saving businesses hundreds or even thousands of dollars on international purchases. If you frequently travel overseas for work, this benefit is essential.

This card gives you access to services to help you during auto-related emergencies, such as jump-starting, tire changing and towing. These emergency services are a nice perk of the Capital One Spark Cash Select - $500 Cash Bonus, as they'll give you peace of mind whenever you're on the road.

The Capital One Spark Cash Select - $500 Cash Bonus card offers free additional warranty and protection on eligible items that you purchase with your credit card. You may get additional time on an original manufacturer’s warranty of three years or less.

Drawbacks

  • No intro APR: Unfortunately, the Capital One Spark Cash Select - $500 Cash Bonus does not offer an intro APR on purchases or balance transfers. This perk can be helpful for businesses who want to carry a balance on large start-up purchases and could benefit from a bit of leeway paying them off.
  • No bonus spending categories: One obvious drawback of the Capital One Spark Cash Select - $500 Cash Bonus card is that it doesn't offer bonus spending categories, and instead has a flat earning rate across all categories. If you know your business tends to spend significantly in a particular spending category, you may prefer to choose a card that lets you choose your bonus category, like the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card.

How does the Capital One Spark Cash Select - $500 Cash Bonus compare to other credit cards?

Capital One Spark Cash Select - $500 Cash Bonus vs. Capital One Spark Cash for Business

  • On Capital One's Secure Website

The Capital One Spark Cash for Business is similar to the Capital One Spark Cash Select - $500 Cash Bonus, though it has a few crucial differences. With this card you can earn 2% Cash Back for your business on every purchase, everywhere, compared with the 1.5% cash back from Capital One Spark Cash Select - $500 Cash Bonus. However, the Capital One Spark Cash for Business also includes an introductory $0 intro for first year; $95 after that annual fee. The Capital One Spark Cash Select - $500 Cash Bonus, on the other hand, never charges an annual fee. Still, both cards do come with the same generous sign-up bonus.

Because the Capital One Spark Cash for Business comes with a large sign-up bonus and elevated rewards earning potential, business owners who spend sufficiently on the card will compensate for the moderate annual fee. If you spend more than $19,000 per year on your card, the Capital One Spark Cash for Business will earn more rewards for you than the Capital One Spark Cash Select - $500 Cash Bonus.

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, which can be redeemed for travel as statement credits or transferred to a variety of travel partners. This flexibility in rewards redemption options could translate to maximized value.

Capital One Spark Cash Select - $500 Cash Bonus vs. Ink Business Cash® Credit Card

  • On Chase's Secure Website

Earn huge rewards in bonus categories, plus an enormous sign-up bonus

The Ink Business Cash® Credit Card is an example of a business card that offers bonus categories rather than a flat earning rate for rewards, which can be extremely valuable for business owners. With the Ink Business Cash® Credit Card, cardholders 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 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.

In addition, this card has a $0 annual fee and comes with an enormous sign-up bonus: Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.

Though the sign-up bonus is more difficult to attain with the Ink Business Cash® Credit Card, if you use this card regularly, the value of the earning rate and sign-up bonus will likely provide greater value than the Capital One Spark Cash Select - $500 Cash Bonus.

Capital One Spark Cash Select - $500 Cash Bonus vs. The Business Platinum Card® from American Express

Phenomenal luxury travel rewards compensate for an exorbitant annual fee

The Business Platinum Card® from American Express is a bit more of an investment than the Capital One Spark Cash Select - $500 Cash Bonus card. That's because The Business Platinum Card® from American Express comes with a hefty $595 annual fee, but also includes a host of luxury travel perks intended to compensate for the fee. Some of these include several travel-related credits — like a Global Entry/TSA Precheck credit, a CLEAR credit (enrollment required) and an airline fee credit for up to $200 (enrollment required) — that help offset the annual fee. This card offers 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more.

The Business Platinum Card® from American Express is intended for a different type of user than the Capital One Spark Cash Select - $500 Cash Bonus card. If you're looking for a business card with fantastic luxury travel benefits and plan to spend heavily on your credit card, this card could be a great option.

Is the Capital One Spark Cash Select - $500 Cash Bonus worth it?

Yes, the Capital One Spark Cash Select - $500 Cash Bonus can be worth it if you value a business credit card with a strong flat earning rate, $0 annual fee and no foreign transaction fees. Spark business credit card benefits like free employee cards, payment flexibility and a high sign-up bonus are just a few of the perks that could make this card a great choice for small business owners.

However, there are business cards out there that offer more cash back, like the Capital One Spark Cash for Business. If you travel frequently, you may find a travel credit card more rewarding. And if you'd prefer an alternative to the Capital One Spark Cash Select - $500 Cash Bonus, there are plenty of other business card options that may be better suited to your needs.

Capital One Spark Cash Select - $500 Cash Bonus FAQs

Is Capital One Spark Cash Select - $500 Cash Bonus a good card?

Yes, we feel that the Capital One Spark Cash Select - $500 Cash Bonus is a good card. It doesn't charge an annual fee or foreign transaction fees, comes with a high sign-up bonus, solid business benefits and a great flat earning rate across all spending categories.

What credit score do you need for Capital One Spark?

You need to have a credit score of Excellent to be approved for the Capital One Spark Cash Select - $500 Cash Bonus card.

What are the Capital One business credit card requirements?

The Capital One Spark Cash Select - $500 Cash Bonus requires cardholders to have a credit score of Excellent. There is a $0 annual fee, so you won't need to worry about that as a requirement for card membership.

The information related to The Business Platinum Card® from American Express has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

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).