- Intro offer:Up to $1,000 cash bonus
- Annual fee:$150
- Regular APR:N/A
- Recommended credit score:670-850 (Good to Excellent)
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.
- No preset spending limit
- Great flat-rate rewards on spending
- Generous bonus offer
- Potential for annual cash back bonus
- No option to carry a balance
- High annual fee for a cash back card
- Minimal cardholder benefits
- High spending required to maximize rewards
Additional Card Details
- Score an annual cash bonus of $200 when you spend $200,000 or more on your card in a year
- Pay-in-full card with no preset spending limit (2.99% fee on any balances not paid in full each month)
- Download spending reports to Quicken®, QuickBooks®, and Excel®
- Free employee cards
- No foreign transaction fees on purchases made abroad
- Roadside assistance
- Extended warranty protection for extra year of coverage on purchases that come with a manufacturer’s warranty
The Capital One Spark Cash Plus is a cash back credit card for business owners. It’s also a charge card; unlike traditional credit cards, it doesn’t have a preset spending limit or APR, and you are required to pay your balance in full each month.
The Capital One Spark Cash Plus* charges a $150 annual fee, which is higher than many business credit cards that offer cash back.
If you want to earn rewards on business spending without an annual fee, consider the Capital One Spark Cash Select. This card lets you earn a flat 1.5% back on all purchases, and requires a lower spending threshold for its welcome bonus.
Earn up to $1,000 in the first 6 months. You’ll get $500 once you spend $5,000 in the first 3 months and another $500 once you spend $50,000 in the first 6 months.
The main benefit of the Capital One Spark Cash Plus is its flat 2% back for each dollar you spend. Rewards are unlimited, so business owners with high expenses can maximize this card easily, with no caps and no bonus categories.
You’ll also earn an annual cash back bonus of $200 each year you charge at least $200,000 in business expenses to the card. This annual bonus is offered on top of the 2% regular rewards rate for spending.
The primary fee to keep in mind for this card is its $150 annual fee. Because the Capital One Spark Cash Plus is a charge card, there is no regular APR. You must pay your complete balance each month, or you’ll be charged a 2.99% fee on the balance and your payment will be considered past due until you pay in full.
There are also no balance transfer fees or cash advance fees since this card doesn’t offer balance transfers or cash advances as an option.
The Capital One Spark Cash Plus is a straightforward cash back card, without many added benefits. The main perks you’ll get include no foreign transaction fees, free employee cards, end-of-year spending summaries, the ability to download your reports to Quicken®, QuickBooks®, and Excel®.
Cardholders also get access to a roadside assistance hotline, as well as extended warranties on items that already come with a manufacturer’s warranty.
Benefits of Capital One Spark Cash Plus Card
There are several reasons a business owner might pick this rewards credit card, even beyond the generous rate of 2% back on every purchase, which can add up fast.
A charge card with no APR or preset spending limit can be dangerous if there’s a risk you might not be able to pay your expenses in full, but it also offers added incentive to practice good credit habits. And if your business requires very high monthly spending — which you then pay off when the statement is due — no limit can help ensure you keep your expenses in one place.
The $200 annual bonus offer is also valuable, and alone can even make up for the annual fee. But, again, requires already-high regular spending — you’ll have to spend $200,000 on your card within a year to get it.
Drawbacks of Capital One Spark Cash Plus Card
The fact that Capital One Spark Cash Plus is a charge card may be a drawback, depending on how you use it. While no limit will allow you to spend as much as you want each month with the card, you also must pay your balance in full every month. You don’t have the option to carry a balance when money is tight or your business is experiencing a cash flow problem.
Another drawback for small business owners or sole proprietors may also be the high spending required to maximize all of this card’s perks. For example, you have to spend $50,000 on your card in the first six months to earn the second half of the sign-up bonus, and to earn the $200 annual cash bonus, you have to spend $200,000 on your card within a year.
Many business owners don’t spend enough to reach those thresholds, so make sure to assess your business spending accordingly.
How to Use Capital One Spark Cash Plus Card
With this card’s flat 2% back on all purchases, the best way to maximize rewards is to use it for all of your business expenses and bills.
If it’s within your budget, start working toward the welcome bonus offer upon approval. You’ll need to spend $5,000 within three months of account opening to earn the first $500 in cash back (about $1,667 per month), then a total of $50,000 within six months to earn $500 more in cash back (about $8,333 per month over the first six months). Fortunately, you can still earn the first half of this bonus even if you can’t spend enough to earn the second $500.
Since the Capital One Spark Cash Plus is a charge card, you should make sure you only charge business purchases you can afford to pay off each month. We recommend using your card for expenses as needed, but always track your spending so you don’t charge more than you can pay off by your card’s due date.
Capital One Spark Cash Plus Card Compared to Other Cards
Capital One Spark Cash Plus
- Intro offer:Up to $1,000 cash bonus
- Annual fee:$150
- Regular APR:N/A
- Recommended credit:670-850 (Good to Excellent)
- Learn more At our partner’s secure site
Is the Capital One Spark Cash Plus Card Right for You?
If your business spends a lot each year and you don’t want to be tied down to a card with a preset spending limit, the Capital One Spark Cash Plus could be for you.
The more you spend with this card, the more ways you can access bonus rewards — which makes it ideal for business owners with large expenses. For example, you could earn the full welcome offer by meeting the minimum spending requirement, which would also make you eligible for the $200 annual cash bonus for spending $200,000 within a year. With the 2% back rate on all that spending, you would earn another $4,000 in cash back rewards on that $50,000 spent. In total, that means a business owner with that kind of budget would earn $5,200 in cash back rewards before the end of the first year.
While this card may be most valuable for businesses with very large budgets, you can still maximize your spending with 2x rewards on every purchase, even if you don’t have the cash flow to spend that highly. You should make sure you make at least $7,500 in purchases for your business throughout the year to cancel out the cost of the annual fee, though.
And because this card has no APR or preset spending limit, it’s important to establish good credit habits before you apply, and only use it for expenses you can afford to pay off. If you want a business credit card that lets you carry a balance if you need to, or that offers 0% APR for a few months, you should consider other options.
Frequently Asked Questions (FAQ)
Is the Capital One Spark Cash Plus a charge card?
The Capital One Spark Cash Plus is a pay-in-full card. Unlike a traditional credit card, you won’t have a preset spending limit, but you have to pay your balance in full each month to avoid paying a fee on your balance.
What credit score do you need for the Capital One Spark Cash Plus?
Business owners with excellent credit are most likely to get approved for this card.
What do you need to qualify for a business card?
To qualify for this card, Capital One says you’ll need the legal names, addresses and Social Security numbers (SSNs) for all business owners. You also need to share your legal business name, your business address and a business tax ID number (TIN).
Does the Capital One Spark Cash Plus charge foreign transaction fees?
The Capital One Spark Cash Plus does not charge foreign transaction fees.
How do you redeem Capital One Spark Cash Plus rewards?
Rewards earned with the Capital One Spark Cash Plus can be redeemed for a statement credit to your account or a check in the mail. Rewards never expire as long as your account is open, and the cash back you can earn is unlimited.
*All information about the Capital One Spark Cash Plus and Capital One Spark Cash Select for Business has been collected independently by NextAdvisor and has not been reviewed by the issuer.