The Capital One Spark Cash Select for Good Credit is a well-liked business cash back credit card that doesn’t have an annual fee. It comes with a straightforward rewards program where you earn a solid 1.5% cash back on all your purchases. For business owners, it offers handy perks like free employee cards and spending reports. While it’s not as generous as the Capital One Spark Cash Plus Card, which gives you 2% cash back on all purchases and more benefits, the Spark Cash Plus does come with a $150 annual fee, unlike the Spark Cash Select. This makes the Spark Cash Select ideal for business owners who prefer to avoid annual fees and don’t spend as much.
When you apply for the Capital One Spark Cash Select card, you have two options to choose from: the Capital One Spark Cash Select for Excellent Credit or the Capital One Spark Cash Select for Good Credit. The Excellent Credit version offers a $750 early spend bonus when you spend $6,000 in the first 3 months, while the Good Credit version gives you a 0% APR on purchases for the first 12 months after opening the account. After that, a regular APR of 21.24% to 29.24% (variable) applies.
The Spark Cash Select card competes with other business rewards cards like Chase Ink Business Cash, Chase Ink Business Preferred, and Capital One’s Spark Cash Plus for Business. It’s important to note that the Spark Cash Select requires good to excellent credit for approval.
Some advantages of the Capital One Spark Cash Select include no annual fee, no foreign transaction fees, a nice early spend bonus, and the ability to redeem rewards in any amount. On the flip side, the rewards are capped at 1.5% for most purchases, and there are limited business-specific benefits compared to other business credit cards.
In conclusion, the Capital One Spark Cash Select is a solid choice for business owners looking for a straightforward cash back card without an annual fee. It may not have all the bells and whistles of other cards, but its simplicity and rewards structure make it a practical option for many businesses.
