The Capital One Spark Cash Plus is a business-focused cash back card that charges a $150 annual fee. It’s pretty straightforward – you get an unlimited 2% cash back on every purchase. It also offers some business perks like free cards for your employees and spending reports, but it’s not as generous as some other cards out there.
This card is similar to other business rewards cards. Some of these cards don’t have an annual fee, while others can charge up to $550. Examples include the Chase Ink Business Preferred® Credit Card ($95 annual fee) and the American Express Blue Business Cash Card (no annual fee).
If you’re thinking about getting the Capital One Spark Cash Plus Card, you should also consider other small business credit cards. One to look at is the Chase Ink Business Unlimited Card. It’s another flat-rate cash-back card that’s similar to the Spark Cash Plus, but it has some differences that might make it a better fit for you.
Here’s a quick comparison: The Spark Cash Plus has a $150 annual fee, while the Ink Business Unlimited doesn’t have an annual fee. The Spark Cash Plus gives you a $200 annual cash-back bonus if you spend over $200k in a year, but the Ink Business Unlimited doesn’t have an annual spend bonus. If you spend $30,000 in the first 3 months with the Spark Cash Plus, you’ll get a one-time cash bonus of $1,200. With the Ink Business Unlimited, you’ll get $750 bonus cash back if you spend $6,000 in the first 3 months. The Spark Cash Plus requires you to pay in full every month, while the Ink Business Unlimited lets you carry a balance with a 0% intro APR for 12 months on purchases.
The Spark Cash Plus has some key features. You get a great early spend bonus, a straightforward rewards program, and an annual cash-back bonus. You earn a flat, unlimited 2% cash back on most purchases. You can get 5% cash back on eligible hotel and rental bookings made through Capital One Travel. Your rewards won’t expire as long as your account is open and in good standing. You can redeem your cash back for paper checks or statement credits, or you can set up automatic redemptions once you hit a certain threshold.
You’ll also get an annual $200 cash bonus if you spend $200,000 or more in a year. The annual fee is $150, but there’s no balance transfer fee, foreign transaction fee, or fee for extra employee cards. You’ll also get periodic spending summaries and downloadable purchase reports that can be exported to accounting platforms like Excel, QuickBooks, and Quicken.
The card comes with some additional benefits, like 24/7 emergency card replacement, complimentary loss and damage coverage on rental cars, and lost luggage protection up to $3,000 per trip when you charge the full value of the travel ticket to your card. You’ll need good or excellent credit to get this card.
The Spark Cash Plus has some great features, like a great early spend bonus, a high baseline cash-back rate, and an annual bonus for big spenders. But it also has some drawbacks. It has an annual fee, limited noncash redemption options, and limited business benefits compared to other top small business credit cards.
In conclusion, the Capital One Spark Cash Plus is a solid business card with a flat, unlimited 2% cash back rate on all purchases. It’s similar to the Capital One Quicksilver Card, but with the added benefit of no balance transfer fees. While other business cards might offer more benefits, the Spark Cash Plus’s baseline earning rate is hard to beat. If you’re all about the bottom line, this card should be on your shortlist.
