Link: Apply now for the Capital One Spark Cash Plus
The Capital One Spark Cash Plus (review) is an excellent business card. The card is fantastic whether you’re looking to earn cash back or travel rewards, and it offers one of the most well-rounded returns on business spending. This is a card that I have, and one that I spend a significant amount on.
If you’ve been on the fence about this card, in this post I wanted to take a look at seven reasons you should consider picking up this $150 annual fee card. In no particular order…
In this post:
Welcome bonus of $1,000 cash back
While the spending requirement is significant, the Capital One Spark Cash Plus has a big welcome bonus of up to $1,000 cash back. This is a two-part bonus, as follows:
- Earn $500 cash back after spending $5,000 within the first three months
- Earn an additional $500 cash back after spending a total of $50,000 within the first six months
The math very much checks out if you have a business that spends a lot on cards. This is the equivalent of earning an incremental 2% cash back on $50,000 of spending, which stacks with the flat 2% cash back the card otherwise offers. As I’ll discuss below, there’s also the opportunity to convert these rewards into Capital One miles, which could get you even more value.
I’ve found approval for the card to be fairly easy as well, within Capital One’s standard application guide. Note that you’re eligible for the welcome bonus on this card even if you have the Capital One Spark Miles for Business (review), which is another useful business card.

2% cash back on all purchases
The Capital One Spark Cash Plus has a straightforward and lucrative rewards structure, as the card offers a flat 2% cash back on all purchases. This is a solid return on spending if you have a business that spends quite a bit and you want to earn cash back.
$200 annual bonus with spending
While the Capital One Spark Cash Plus offers a flat 2% cash back, there’s a further reward for big spenders. If you spend $200,000 or more on the card in an anniversary year you’ll receive an annual $200 cash bonus.
In other words, if you spend $200,000 on the card in a year you’d earn $4,200 cash back (not including the welcome bonus), which is a 2.1% return. That’s phenomenal. Another way to look at it is that if you spend $200,000 per year on the card, the $200 cash bonus more than recoups the annual fee, giving you access to one of the best cash back business cards out there.
No foreign transaction fees
The Capital One Spark Cash Plus has no foreign transaction fees, making it a fantastic card for purchases abroad. It’s nice to not only get an industry-leading return on spending, but to get that same rate internationally without it costing you extra.
While there are some other business cards offering 2% cash back, the no foreign transaction fees on this card is a point of differentiation compared to some other products out there.

No pre-set spending limit
The Capital One Spark Cash Plus is a charge card rather than a credit card. The good news is that this means the card has no pre-set spending limit. If you have a business that spends a lot on credit cards, this is a valuable feature, since it means that you can often make larger purchases than you’d be able to make with other cards.
I’ve found this to be useful for situations where I needed to make a big purchase, but other cards didn’t have a big enough credit line for what I needed.
Card doesn’t count toward Chase 5/24 limit
Chase has the 5/24 rule, which is a restriction whereby you typically won’t be approved for a Chase card if you’ve opened five or more new card accounts in the past 24 months. If this is a limit you’re trying to stay under, applying for the Capital One Spark Cash Plus shouldn’t count toward that limit.
Note that applying for most other Capital One business cards does count toward that limit, but the Spark Cash Plus is an exception, as it’s a charge card, and won’t show up on your personal credit report.
Convert rewards into Capital One miles
While the Capital One Spark Cash Plus is officially a cash back card, this is even a great card for points enthusiasts. That’s because if you have the card in conjunction with a card earning Capital One miles, like the Capital One Spark Miles for Business (review) or Capital One Venture X Rewards Credit Card (review), then all rewards earned on the card be converted into miles.
Specifically, each cent of cash back earned with the card can be converted into one Capital One Venture or Spark miles, opening up all kinds of travel opportunities. Personally I value Capital One miles at 1.7 cents each, so to me that increases the value of the points significantly. That bumps the return on spending on the card to closer to 3.4%, by my valuation.

Bottom line
The Capital One Spark Cash Plus is a top notch cash back business card. The card offers a great welcome bonus, a 2% return on all spending with no foreign transaction fees, no pre-set spending limit, an extra bonus for big spenders, the ability to convert rewards into miles, and more.
If you’re looking for a business card with a great cash back rewards structure, the Capital One Spark Cash Plus is excellent.
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