Capital One® Spark® Cash for Business
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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.
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 $5,000 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 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
Business owners who want a hassle-free card with a generous and unlimited rewards structure may find the Capital One Spark Cash Select for Business fits the bill. If you have some big expenses and you want to spread out the payments a bit, the 9-month no-interest offer on purchases can save you some money.
If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Business Cash 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?
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, on the first $50,000 you can earn 5% cash-back rewards on wireless telecom services and office supplies purchased directly from US service providers with the choose-your-own 3% category that can add up to significant savings.