Capital One Spark Cash for Business

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Running a business is hard, but this card is easy.

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Capital One Spark Cash for Business ranks among the best business rewards credit cards on the market, edging out other business cards – including those offered by Capital One — because of its rewards flexibility.

We love that this card pays the same flat rewards rate on cards issued to employees as those issued to the business owner. Plus, employee cards come with no annual fee. Capital One waives the annual fee for the first year on the owner’s card. You’ll pay $95 a year thereafter.

Review

Bankrate tends to favor rewards credit cards that make it easy on the cardholder to collect. Capital One Spark Cash for Business certainly does that with a 2% cash-back reward for all spending.

This is an especially good card if your business expenses aren’t concentrated in small-business specific categories. There are other cards that offer more generous rewards in spending categories typically associated with businesses, but be prepared to track your category spending.

We also like that this card charges no foreign transaction fees, meaning if you or your employees do business outside the U.S., you won’t have to pay extra when putting spending on your credit card.

Who should get this card

The Capital One Spark Cash for Business card will most likely appeal to business owners who want to keep things simple. This card is probably right for you if your expenses vary over the course of the year and aren’t concentrated in one specific category, like gas or office supplies.

For business owners who put a fair amount on their credit cards, the sign-up bonus may be a key to your decision to apply: You’ll earn $500 if you spend $4,500 on purchases within three months of account opening.

Like with most credit card choices, the best card for you comes down to your (in this case your business’) spending habits. If you spend heavily on office supplies, for example, there are better options that could earn you hundreds of extra dollars in cash-back rewards every year.

The math here is relatively simple. If you spend $10,000 annually on office supplies, you’ll earn $500 cash back from some other cards. On Spark Cash for Business, you’ll earn $200.

Advantages
  • Cardholders earn an unlimited 2% back on every purchase.
  • You'll earn a one-time bonus of $500 if you accrue at least $4,500 in charges in the first three months of card ownership.
  • Employee cards earn the same cash-back rate, all credited to the main cardholder’s account.
Disadvantages
  • The Capital One Spark Cash for Business does not come with an introductory 0% APR offer like on other small business credit cards.
  • The penalty APR for late payments is high, plus there’s a penalty fee, so if your business might not make a payment on time, you may want to consider a card with a more forgiving policy.
  • The balance transfer APR if high so this card may not be a good choice for those looking to save on interest charges.
  • If you rarely use this card, the annual fee after the first year may not be worth it.

Fees and APR

  • There’s no annual fee the first year, after that it’s $95.
  • You will pay no foreign transaction fee for purchases made outside the United States.
  • The annual percentage rate is a variable 17.99%.

Extras, perks and using rewards

Along with the sign-up bonus and the free employee cards that earn cash back, this card also comes with Visa Business benefits like auto damage and collision protection, emergency and travel assistance services and purchase protection.

Cash-back points never expire and you can redeem them in any amount, anytime. There is no fee to redeem your cash-back points.

How this card compares

Capital One® Spark® Cash Select for Business
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 13.99%-21.99% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed

Excellent

Regular APR

13.99% - 21.99% (Variable)

Annual Fee

$0

Purchase Intro APR

0% on purchases for 9 months

Balance Transfers Intro APR

N/A

Business owners who want a hassle-free card with a generous and unlimited rewards structure may find the Capital One Spark Cash for Business fits the bill. If you have some big expenses and you want to spread out the payments a bit, 9-month no-interest offer on purchases can save you some money.

Ink Cash® Business Credit Card
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
  • Earn 1% cash back on all other purchases—with no limit to the amount you can earn.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our business category page.

Credit Needed

Excellent

Regular APR

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Cash Business Credit Card is like a small rectangular mentor. The no-fee card will reward you for spending in the areas you’ll most likely need to get your business off the ground and gives you a full year break on interest for purchases and balance transfers. Who couldn’t use a little breathing room when launching a new venture?

SimplyCash® Plus Business Credit Card from American Express
  • Special Offer: Earn up to $400 cash back
  • Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
  • No Annual Fee. Plus, more buying power and more cash back. Get cash back on business purchases, even those above your credit limit.
  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
  • 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.
  • Terms and limitations apply
Credit Needed

Excellent

Regular APR

13.24% - 20.24% Variable

Annual Fee

$0

Purchase Intro APR

0% on Purchases for 9 months

Balance Transfers Intro APR

N/A

In just about every respect, SimplyCash Plus Business Credit Card from American Express stands tall among the elite business cards on the market.

For start-ups who know they’ll need a slew of things to get going, the 5% cash-back rewards on wireless telecom and office supplies and the choose-your-own 3% category can add up to significant savings.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.