Review: Capital One Spark Cash For Business Card

In the interest of full disclosure, One Mile At A Time earns a referral bonus for anyone that’s approved through some of the below links. These are the best publicly available offers that we have found for each card. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please check out my advertiser policy for further details about our partners, including American Express, Capital One, Chase, and Citi, and thanks for your support!

Update: This offer for the Capital One® Spark® Cash for Business has expired. Learn more about the current offers here.


The major credit card issuers have been upping their game when it comes to credit cards lately, and in particular business credit cards, which in the past weren’t generally as lucrative as personal cards.

One of the most compelling business cards out there that I’ve only written about in passing is the Capital One® Spark® Cash for Business, so in this post I wanted to take a closer look at the card. The way I view it, this card has an excellent welcome bonus and offers an exceptional return on spend, all for a reasonable annual fee (which is even waived for the first year).

Let’s take a closer look at the card:

Capital One Spark Cash for Business welcome bonus

The Capital One® Spark® Cash for Business offers a welcome bonus of $500 cash after spending $5,000 on purchases within the first three months from account opening. That’s one of the biggest bonuses out there on a cashback card.

Capital One Spark Cash for Business annual fee

The Capital One® Spark® Cash for Business has a $95 annual fee, though it’s waived for the first year. If you want to think of it differently, the $500 introductory bonus more than justifies your annual fee for over six years, not even factoring in the great return on spend this card offers.

Capital One Spark Cash for Business rewards structure

The Capital One® Spark® Cash for Business offers unlimited 2% cash back. It’s that simple, there aren’t really any catches. You can get your cash back either in the form of a statement credit or a check. If you want you can set up an automatic redemption preference, with the choice between being paid out at the same time each calendar year, or being paid out when you reach a specific threshold. Or you can just redeem as you go.

Capital One Spark Cash for Business perks

The Capital One® Spark® Cash for Business offers some other potentially valuable perks, including:

  • No foreign transaction fees
  • The ability to add employee cards at no additional cost
  • Primary car rental coverage (assuming you’re renting for business reasons), purchase security and extended protection (coverage on items lost or stolen within 90 days), travel and emergency assistance services, and more; the full details of this can be found in the cardmember agreement

Is 2% cash back a good return on spend?

For most businesses this is an excellent, straightforward rewards structure. You can potentially get more value out of other cards if you spend a lot in categories that are eligible for further bonuses, or if you’re really good at redeeming miles. However, a vast majority of people aren’t good at redeeming miles, and are at an information disadvantage.

I do think a vast majority of people are best off using a straightforward cash back card with a lucrative rewards structure, like this card.

Just to give one example, I recently met a contractor who had his own business. We started talking about rewards cards, and he asked which card he should be using. I asked him how much he spends per year, which card he uses, and what he wants to use those points for. The answer? About $5 million per year, he uses an Amex Gold Card, and he redeems the points for gift cards, where you’re typically getting at most one cent of value per point.

OUCH. That pained me to hear, though I think this is more common than you’d expect. The difference between that and the Capital One® Spark® Cash for Business would be $50,000 of rewards per year. That’s not even factoring in the difference between him just getting cash however he wants, vs. being tied in to specific gift cards.

I’m sure someone will say “well if someone spends that much on credit cards, $50,000 doesn’t really make a difference.” That really isn’t true. There are plenty of low margin businesses that spend a ton on products, materials, etc., so just because a business spends millions of dollars per year on credit cards doesn’t mean someone is rolling in dough.

What are other business credit cards worth considering?

If you’re looking for an extremely lucrative business card, there are a few other options that are worth considering:

  • The Blue Business℠ Plus Credit Card from American Express has no annual fee, and offers 2x Membership Rewards points on the first $50,000 spent per calendar year; this is the single most lucrative card for the first $50,000 of non-bonused spend annually, in my opinion (more info here)
  • The American Express® Business Gold Card which offers 4X Membership Rewards® points on the 2 select categories where your business spent the most each month.  The 4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.
    • The bonus categories are as follows:
      • Airfare purchased directly from airlines
      • U.S. purchases for advertising in select media
      • U.S. purchases at gas stations
      • U.S. purchases at restaurants
      • U.S. purchases for shipping
      • U.S. computer hardware, software, and cloud computing purchases made directly from select providers
  • The Ink Business Preferred℠ Credit Card, has the best welcome bonus of any credit card at the moment, an amazing cell phone protection plan, and offers triple points on the first $150,000 in combined purchases per anniversary year on travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines (more info here)

Bottom line

The Capital One® Spark® Cash for Business is arguably the most lucrative cash back business credit card out there. Unlimited 2% cash back is pretty tough to beat, especially if you don’t want to learn the ins-and-outs of redeeming miles. On top of that, the card has a big welcome bonus of $500 after completing minimum spend, and the $95 annual fee is waived for the first year.

For a vast majority of businesses, I think a card like this is a great option for earning generous yet straightforward rewards.

Does anyone have the Capital One® Spark® Cash for Business, and if so, what has your experience been like?

Regarding Comments: 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.

Comments

  1. About a month ago, I got an application and ad in the mail for this same card. It had a $1000 bonus if you spent $10,000. I think my ad is good until the end of February. I did not apply.

    This was for the US despite my username. I added Canada because there’s another user named Dave that is not me.

  2. Unlike a lot of business cards, this one reports to your personal credit, which can lower your credit score and affect your 5/24 if you’re looking to app for most Chase cards. Capital One also triple pulls, so there’s that to consider as well.

  3. I think this is mostly a fair post, though there are other factors at play the author may have left out. Annual performance bonuses, liability, billing options, and many other issues should be weighed by a business owner. If you’re a general consumer applying for this product, sure – this makes sense. Thanks for writing on the topic!

  4. Let me see. If you keep it for only the Year 1 benefits – fine. Moving forward? $95.00 fee @ 2% return? Reports to your Personal Credit Report? – HELL NO!!!!!!!!!!!!!! I’d rather stick to my AMEX Blue for Biz Plus and use the Citi Double Cash for cashback.

  5. I first signed up for this card throught Capital One’s website and soon after went into a Capital One branch and noticed they were offering this same card but annual fee free. The fee would be $0 just because the application was done at a branch. So I applied at the branch, was approved, combined credit lines and closed the card with a fee. Now I have a Spark Cash Business we no annual fee. I did this in 2015 so Im not sure if that is available any more.

  6. About a month and a half ago, I got in on the Spark $1,000 bonus if you spent $10,000 deal. So far, so good.

Leave a Reply

Your email address will not be published. Required fields are marked *