Capital One® Spark® Cash for Business
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.
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 welcome 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.
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 18.74%.
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 never expires (for the life of the account) and you can redeem it in any amount, anytime. There is no fee to redeem your cash back.