Capital One Spark Cash Select for Business
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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. On the other hand, if you tend to carry a balance – and you can qualify for the lowest annual percentage rate, this card also is a decent choice to carry in your pocket.
But their are other cards on the market that offer the same — if not better — low rates for those who qualify, and some have the same introductory offer that come with this card.
We don’t like this card quite as much as its relative, the Capital One Spark Cash for Business, which charges an annual fee after the first year, but also offers a slightly higher rewards rate and a more lucrative sign-up bonus.
That being said, this card still ranks among the best on the market, particularly because of its unfussy rewards program that doesn’t pay different rates for different categories of spending. To us, that kind of program is the most flexible.
However, many businesses will find that their spending is concentrated in one or a few areas, in which case you may be better off choosing a card with higher rewards in those categories.
Who should get this card
For business owners whose spending habits vary or those who want simple cash-back rewards, the unfussy Capital One Spark Cash Select for Business card fits the bill.
Sweetening the pot is a one-time bonus of $200 in cash rewards to cardholders who accrue at least $3,000 in charges in the first three months of card ownership and a 0% intro APR offer for the first nine months on all purchases (then variable APR of 14.74% – 22.74% applies).
Fees and APR
- This card carries no annual fee.
- There are no foreign transaction fees for purchases made outside the United States.
- The variable penalty APR is a high 31.15% if you make a late payment.
- After the introductory period, the standard APR is a variable 14.74% to 22.74% based on your creditworthiness.
Extras, perks and using rewards
This card comes with a nice bonus of $200 if you spend $3,000 within the first three months. Like the Capital One Spark Cash for Business, with this card you can get extra credit cards for your employees, a nice perk since the main cardholder accrues all the cash-back earnings.
If you have to travel for work, the Capital One Spark Cash Select has no foreign transaction fees and also comes with Visa Business Benefits, including 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 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.
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?
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 percent category can add up to significant savings.