- Intro Offer
-
$1,200 cash back $1,200 cash back once you spend $30,000 in the first 3 months
- Annual fee
- $150
- APR
- N/A
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
800 – 850
Excellent
- Rewards rate
-
2% – 5% Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel; Earn unlimited 2% cash back on every purchase, everywhere--with no limits or category restrictions
The Capital One Spark Cash Plus* offers business owners a flat cash-back rate for a steep annual fee, but it has potential to be a rewarding choice.
For $150 annually, business owners can earn 2% cash back for their expenses, regardless of what they are. However, for its high price tag, and with many of its best perks catering to high spending, it should only be considered by businesses that spend quite a bit each year.
There are a number of business-related perks, but its primary features are its flat rate for all purchases and a high welcome bonus of up to $3,000 cash back.
Cardholders can earn $1,200 cash back after spending $30,000 within three months of account opening. You can also get the card’s $150 annual fee refunded every year you spend at least $150,000 with the card. Because those spending thresholds are so high, this card is best suited to businesses with large expenses.
For business owners who travel, the card also earns 5% cash back on hotels and rental cars booked directly from Capital One. There are also no foreign transaction fees to worry about.
It’s important to note that the Capital One Spark Cash Plus can’t be used to revolve a balance, so it doesn’t have an annual percentage rate, or APR. That means your credit card statement will need to be paid in full every month or you’ll incur a 2.99% monthly late fee.
Its cash-back rate is competitive with many cash-back credit cards without an annual fee, but the Spark Cash Plus’s earning potential for high business spending certainly isn’t.
Rewards and redemption
The Spark Cash Plus for Business has a straightforward rewards program. You can use the card for all of your business spending to earn 2% cash back for your purchases. While that can be good for businesses with a wide variety of spending, if your business spends heavily on one or two types of purchases, it might be better to choose a business credit card that offers a higher rate for specific purchases.
Your cash back is delivered to you as either statement credits -- which lower the overall balance of your account -- or as a check in the mail. You can also automate the process by setting up a preferred method and choosing if you want it redeemed at a certain calendar date or a certain cash-back amount.
There is also a $150 annual fee refund for spending $150,000 or more with the card each year. However, $150 for spending $150,000 is a measly offering.
Again, keep in mind you’ll need to pay off your credit card balance in full each month or you’ll end up paying a fee of 2.99%, wiping out the value of your rewards. You can set up an AutoPay feature on your account to make sure you pay it off in time.
Additional card perks
The Capital One Spark Cash for Business features a few standard business management tools and a handful of travel protections.
- Annual $150 cash bonus: Earn a $150 cash bonus every year you spend $150,000 or more with the card.
- Account managers: You can set an account manager who can then make payments and purchases, review transactions and have the authority to resolve any problems.
- Purchase records: You can securely download your purchase records onto multiple platforms, including Excel, QuickBooks and Quicken.
- Year-end summaries: Check out an itemized report of your spending to help budget your business and make tax season less stressful.
- Free employee cards: You can issue employee cards at no additional cost.
- Extended warranty: If a new purchase has a manufacturer’s warranty of three years or less, you could have it extended by an additional year.
- Roadside assistance: If you run into car trouble while traveling, you can get help with changing a tire, jumping your car or getting gas delivered, among other things.
Alternative cards
While the Capital One Spark Cash Plus could be a lucrative choice for business owners, it does take quite a bit of spending to get the most from the card, so it’s not a great choice for every business type. Consider these alternatives if the Spark Cash Plus doesn’t fit your business’s budget.
Ink Business Cash® Credit Card
The Ink Business Cash is a great option for small businesses. It earns 5% cash back at office supply stores and on internet, cable and phone services on the first $25,000 spent on combined purchases annually (then 1%). It also earns 2% cash back at gas stations and restaurants with the same spending cap (then 1%).
It also comes with a solid welcome bonus (earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening) with a bit more of a realistic spending requirement. It’s also a cut above the competition when it comes to business credit cards with no annual fee.
Basically, if you’re unable to hit the high spending requirements to obtain the best of the Spark Cash Plus card, consider the Ink Business Cash.
Capital One Spark Miles for Business
The Capital One Spark Miles for Business* is primarily focused on travel, but it has a much lower annual fee ($0 intro annual fee your first year, then $95) with no set spending level to get the most out of it. Cardholders earn 2x miles for your spending, and 5x miles for hotels and rental cars booked through Capital One Travel.
The card has a welcome bonus of 50,000 miles for spending $4,500 on purchases within the first three months of account opening, so it’s easy to reach yet still plenty rewarding.
It’ll make your business trips a little easier and less expensive with its application fee credit for Global Entry or TSA PreCheck and by using your miles for airfare, hotels or rental cars. You could also transfer them to Capital One’s travel partners, but they don’t feature many US airlines.
If your business has you traveling often, and you don’t have high enough spending to qualify for everything the Spark Plus offers, perhaps the Spark Miles for Business would serve you better.
How Capital One Spark Cash Plus compares to other cards
- Intro Offer
-
$1,200 cash back $1,200 cash back once you spend $30,000 in the first 3 months
- Annual fee
- $150
- APR
- N/A
- Intro Purchase APR
- N/A
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Excellent
- Rewards rate
-
2% – 5% Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel; Earn unlimited 2% cash back on every purchase, everywhere--with no limits or category restrictions
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
- Intro Offer
-
$300 Get a $300 online statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
- Annual fee
- $0
- APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Excellent
- Rewards rate
-
1.5% 1.5% cash back on all purchases
- Intro Offer
-
$500 Earn $500 in cash back. Just spend $4500 on the Account Owner’s card in the first 150 days of opening your account.
- Annual fee
- $0
- APR
- 19.24% – 28.24% (Variable)
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles on purchases
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Good – Excellent
- Rewards rate
-
1% – 5% Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.; Earn 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers and restaurants.; Earn 1% cash back on all other eligible net purchases.
FAQs
You’ll need to look at your business’s budget. If you spend a lot annually, consider a card that rewards that spending. If you travel often, consider a business travel credit card that offers amenities and rewards. It comes down to what your business needs are, and what aspects of your business you’re looking to bolster.
While welcome bonuses certainly play a role in why you should get a card, you shouldn’t get a credit card solely based on the welcome bonus. Consider the other aspects of the card that offer lasting value compared to short-term reward. It’s also a bad idea to change your spending habits just to reach a welcome bonus. Let the card match your budget, rather than trying to change your budget to fit the card.
You’re able to revolve a balance each month with a credit card that has an APR, but the balance will accrue interest at that rate. A credit card with no APR -- sometimes known as a charge card -- must be paid off in full each month, but you won’t have to worry about interest charges. Late fees, however, may apply.
*All information about the Capital One Spark Cash Plus, Capital One Spark Miles for Business, Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card and the U.S. Bank Business Triple Cash Rewards World Elite Mastercard has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
