Capital One Spark Cash Plus Business Card Review (2022)

Capital One Spark Cash Plus Business Card Review (2022)

Capital One Spark Cash Plus Earn up to a $3,000 cash bonus | $150
Apply Now Terms Apply.
Capital One Spark Cash Plus Earn up to a $3,000 cash bonus | $150
Unlimited 2% Cash Back
No Foreign Transaction Fees
Extended Warranty Protection
2
In the interest of full disclosure, OMAAT earns a referral bonus for anyone that’s approved through some of the below links. These are the best publicly available offers (terms apply) that we have found for each product or service. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, hotel chain, or product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please check out our advertiser policy for further details about our partners, and thanks for your support!

Link: Apply now for the Capital One Spark Cash Plus (this is the best publicly available offer for the card, and we appreciate your support if you use our link)

The Capital One Spark Cash Plus is a phenomenal card for any business that spends a lot, regardless of whether you’re trying to earn cash back or travel rewards. The card is still fairly new, as it was only launched in August 2021, and it replaces the previous Capital One Spark Cash, which is no longer open to new applicants.

Capital One Spark Cash Plus Basics For January 2022

In this post I wanted to take a close look at the Capital One Spark Cash Plus, which offers an industry-leading return on business spending, a lot of flexibility, and a massive welcome bonus. This is a card that I just picked up, and one that I recommend others consider if it meets your spending patterns. I’d also say it’s one of the all-around most rewarding business cards.

Spark Cash Plus $3,000 Cash Back Bonus

The Capital One Spark Cash Plus is offering a massive limited time welcome bonus of up to $3,000 for new cardmembers:

  • Earn $500 cash back after spending $5,000 within the first three months
  • Earn an additional $2,500 cash back after spending a total of $50,000 within the first six months

After spending $50,000 within the first six months you’d earn $3,000 cash back, which is an incremental 6% return on spending, on top of the regular rewards structure. Given that the card offers at least 2% cash back on spending, you’re earning a total of $4,000 cash back on your first $50,000 of spending, which is an incredible 8% return.

The Spark Cash Plus is offering a huge welcome bonus

Spark Cash Plus Eligibility Requirements

I recently applied for the Capital One Spark Cash Plus and was instantly approved. A couple of things to note:

  • Capital One has very few consistent application rules, and I was able to get approved for the card in spite of only recently having picked up the Capital One Venture X Rewards Credit Card
  • You are eligible for the bonus on this card even if you have or have had another type of Capital One Spark card; you’re just not eligible if you’ve had this exact card before

Spark Cash Plus Unlimited 2% Cash Back

The Capital One Spark Cash Plus offers unlimited 2% cash back on every purchase, everywhere, with no limits or category restrictions. There are no foreign transaction fees, so this is even great for purchases abroad. This is in line with the best rewards structure you’ll find on any business card.

Earn unlimited 2% cash back with no foreign transaction fees

Spark Cash Plus Annual $200 Cash Bonus

The Capital One Spark Cash Plus has a further reward beyond offering 2% cash back. 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 only 2% cash back business cards with no foreign transaction fees.

Big spenders can earn a $200 annual cash bonus

Spark Cash Plus $150 Annual Fee

The Capital One Spark Cash Plus has a $150 annual fee, which applies the first year and in subsequent years. You can add employees to the card at no extra cost, so at least that fee covers as many people as you’d like to add.

Spark Cash Plus Issued As Charge Card

Here’s an interestingly angle — the Capital One Spark Cash Plus is a charge card, rather than a credit card. What are the practical implications of this?

  • There’s no pre-set spending limit, so this is great for businesses that frequently make larger purchases
  • You’ll have to pay your balance in full each billing cycle (I generally don’t recommend using credit card financing anyway, given how expensive it is)

This seems to me like an interesting direction for Capital One to take:

  • Financing charges is a big source of revenue for credit card companies, and Capital One is largely giving that up
  • Amex has been moving away from charge cards and towards credit cards, while Capital One is doing the opposite

Convert Cash Back Into Capital One Miles

There’s an interesting twist to the Capital One Spark Cash Plus for those looking to earn travel rewards rather than cash back:

This is a pretty exciting opportunity, since it means that this card gives you some unrivaled flexibility. You can earn 2% cash back, or in conjunction with another card, you could earn 2x Capital One miles per dollar spent (which I personally value at a 3.4% return). That also means the bonus could get you up to 300,000 Capital One miles. I’d say that’s some awesome flexibility.

Convert cash back into Capital One miles

Is The Capital One Spark Cash Plus Worth It?

The Capital One Spark Cash Plus isn’t for everyone:

That being said, I think the Spark Cash Plus is absolutely fantastic for many types of businesses, and the current welcome bonus is one of the most generous we’ve ever seen:

  • For those looking to earn cash back, you won’t find another business card offering 2% cash back with no foreign transaction fees or caps on earning
  • For those looking to earn travel rewards, you won’t find another business card offering 2x transferable points with no foreign transaction fees or caps on earning (though you do need to have another card, like the Capital One Venture X, in conjunction with it)
  • For businesses that spend a lot, the $200 annual cash bonus will more than cover the $150 annual fee (you’ll even be $50 ahead!)
  • The current welcome bonus of $3,000 cash back is more or less unheard of; while the spending requirement is significant, this is an incredible return on spending

I can’t think of any other business card in the market that offers that kind of value proposition.

Redeem Capital One miles for travel in Lufthansa first class

Bottom Line

The Capital One Spark Cash Plus is a lucrative business card that offers 2% cash back on all spending with no foreign transaction fees, a $200 bonus when you spend $200,000 on the card in a year, and has no pre-set spending limit. Add in the card’s current $3,000 cash back welcome bonus, and there has never been a better time to pick up the card.

If you spend a lot on your business card and want to earn cash back rewards, then this card is a no-brainer. Similarly, the ability to convert rewards into Capital One miles in conjunction with a card like the Capital One Venture X is also an interesting angle here. If you took that approach, you could earn up to 300,000 Capital One miles as part of the welcome bonus, and this card offers 2x Capital One miles on an ongoing basis.

If you want to learn more about the Capital One Spark Cash Plus or apply, follow this link.

The following links will direct you to the rates and fees for mentioned American Express Cards. These include: American Express® Blue Business Cash Card (Rates & Fees).

Conversations (2)
The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.
Type your response here.

If you'd like to participate in the discussion, please adhere to our commenting guidelines. Anyone can comment, and your email address will not be published. Register to save your unique username and earn special OMAAT reputation perks!

  1. Shabs Guest

    Any idea how long this offer is valid for?

    1. Ben Schlappig OMAAT

      @ Shabs -- Wish I did, but that hasn't been disclosed. All we know as of now is that it's limited time. Limited time card offers are typically available for somewhere around one to three months, though there's no guarantee that'll be the case here.

Featured Comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Ben Schlappig OMAAT

@ Shabs -- Wish I did, but that hasn't been disclosed. All we know as of now is that it's limited time. Limited time card offers are typically available for somewhere around one to three months, though there's no guarantee that'll be the case here.

0
Shabs Guest

Any idea how long this offer is valid for?

0
Meet Ben Schlappig, OMAAT Founder
4,523,713 Miles Traveled

25,807,500 Words Written

28,675 Posts Published

Keep Exploring OMAAT
  • December 2, 2021
  • Ben Schlappig
9
How Much Are Capital One Miles Worth?
  • November 18, 2021
  • Ben Schlappig
53
Review: Capital One Lounge DFW (WOW!)
  • January 15, 2020
  • Ben Schlappig
2
Capital One Spark Cash Business Card Review