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Capital One Spark Cash Select for Good Credit review: Is the extended intro APR worth it?

The relatively long intro APR is attractive but doesn't keep up with other business cards that offer the same intro APR plus sign-up bonuses.

 /  8 min
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Snapshot

3.0

Bankrate rating
Info
Rating: 3 stars out of 5

Bottom line

This card could work for small-business owners who can take advantage of a decent purchase intro APR, but other cards offer both an intro APR and more value via sign-up bonuses or higher rewards rates.
  • Rewards value
    Rating: 2 stars out of 5
    2 / 5
    APR
    Rating: 3 stars out of 5
    3 / 5
    Rewards flexibility
    Rating: 4 stars out of 5
    4 / 5
    Features
    Rating: 4 stars out of 5
    4 / 5
Good to Excellent (670 – 850)
Info
Recommended Credit

N/A

Intro offer

Info

N/A

Offer valuation

Info

1.5% - 5%

Rewards Rate

Info

$0

Annual fee

21.24% - 29.24% (Variable)

Regular APR

Capital One Spark Cash Select for Good Credit Overview

Capital One has split one of its popular business credit cards, the Capital One Spark Cash Select for Business, into two versions: the Capital One Spark Cash Select for Excellent Credit and the Capital One Spark Cash Select for Good Credit card.

These streamlined cash back cards have mostly remained the same as the original, but each now carries a more targeted welcome offer, with the Spark Cash Select for Good Credit card forgoing a cash bonus in favor of a lengthy intro APR period on new purchases.

This may make the Spark Cash Select for Good Credit card the obvious choice for businesses that could use a year-long break from interest more than a cash bonus. However, when compared to other business rewards cards, the card falls short. Other no annual fee business cards deliver better cash back rates and equivalent intro APRs without cutting corners on the sign-up bonus (See Rates & Fees).

What are the advantages and disadvantages?

Pros

  • Checkmark

    No annual fee

  • Checkmark

    Long intro APR offer on new purchases

  • Checkmark

    Streamlined rewards program that earns 1.5 percent cash back on all purchases, plus 5 percent cash back on hotels and rental cars booked through the Capital One Travel portal

  • Checkmark

    Earn rewards with free employee cards

  • Checkmark

    No foreign transaction fees

Cons

  • The ongoing APR is higher than the Capital One Spark Cash Select for Excellent Credit card’s.

  • Other cards offer more cash back rewards in select categories.

  • You can't transfer rewards to other loyalty programs.

A deeper look into the current card offer

Quick highlights

  • Rewards rate: 5 percent cash back on hotel stays and rental cars booked through Capital One Travel and 1.5 percent cash back on all other purchases
  • Welcome offer: N/A
  • Annual fee: $0
  • Purchase intro APR: 0 percent for 12 months (21.24% - 29.24% variable APR after that)
  • Balance transfer intro APR: N/A
  • Regular APR: 21.24 percent to 29.24 percent (variable)
  • (See Rates & Fees)

Trading a sign-up bonus for intro APR

Instead of offering a sign-up bonus in points or cash back, the Spark Cash for Good Credit card comes with a 12-month 0 percent intro APR on new purchases (21.24 percent to 29.24 percent variable APR after that).

While this is the longest intro APR of any Capital One card for businesses, 12 months is the norm for rival zero-interest cards. For example, the Ink Business Unlimited® Credit Card not only offers 12 months of 0 percent intro APR on purchases, but also carries a lower ongoing APR of 18.49 percent to 24.49 percent variable and a $750 sign-up cash back bonus after you spend $6,000 within the first three months.

Plus, depending on the balance you plan to pay off, a traditional sign-up bonus may be more valuable than an intro APR offer. For example, you could get more value out of the Capital One Spark Cash Select for Excellent Credit card’s sign-up bonus offer ($750 cash bonus when you spend $6,000 within the first three months) and its lower ongoing interest rate 18.49 percent to 24.49 percent variable (See Rates & Fees) than with the Spark Cash Select for Good Credit card.

Rewards rate

The Capital One Spark Cash Select for Good Credit intro APR is an easy rewards card to handle since it earns unlimited flat-rate cash back on all purchases. There are no spending caps or categories to worry about, and its simple rewards structure, automated cash back redemption and lack of foreign transaction fees make it flexible enough to earn rewards on your business expenses at home and abroad.

How you earn

You’ll earn unlimited 1.5 percent cash back on all eligible purchases, and your cash rewards won’t expire while your account is open.

And if your work has you hotel hopping and requires a rental car often, you may be able to earn a boosted 5 percent cash back on hotel and rental car bookings through the Capital One Travel portal.

How to redeem

Capital One cards allow you to redeem your cash rewards in the form of:

  • A statement credit
  • A check
  • A gift card

While it includes several common forms of cash back, this list is missing the option to redeem as a direct deposit to a bank account.

On the bright side, Capital One allows you to set your account to automatically redeem in specific increments ($25, $50, $100, $200, $500 and $1,500) after your total rewards reach a certain dollar amount or after a selected yearly date.

How much are the rewards worth?

Capital One’s cash back program works like most others: every dollar you spend earns 1.5 cents back per percentage point of your cash back rate — so you’ll net 1.5 cents per dollar on general purchases (or, similarly, 5 cents per dollar for hotels and rental cars booked through Capital One Travel). 

For example, if your business spends $5,000 a month, you’ll earn at least $900 cash back annually.

Other cardholder perks

Capital One business cards like the Spark Cash Select for Good Credit aren’t typically chock-full of business travel credits or other elite benefits, but the card carries a fair number of helpful day-to-day perks given it charges no annual fee.

Employee cards

You’ll get free employee cards to earn rewards faster. Easily manage your company’s spending by designating account managers to track expenses, oversee transactions and set the spending limits for each card. The Spark Cash Select for Good Credit also comes with end-of-year purchase reports and the ability to automate reward redemption, so it makes leveraging employee cards a cinch.

Purchase and travel protections

The Spark Cash Select for Good Credit may not be the best card for travel insurance since you don’t get premium coverage like trip interruption and cancellation insurance, but you’ll still get a well-rounded collection of pillar protections that include $0 fraud liability for unauthorized charges, automatic extended warranty protection* on eligible purchases, and roadside assistance (fees apply).

You’ll also enjoy useful perks like fraud coverage for unauthorized charges, no foreign exchange fees and virtual credit cards, which add another layer of security to your card.

Virtual account numbers can be a rare offering, since digital wallets serve the same purpose. Instead of giving an online merchant your real card number, you can create and track unique card numbers for each merchant. Businesses that make a lot of online payments may find virtual credit cards more useful since digital/mobile wallets are often focused on in-store purchases.

Rates and fees

Despite carrying a higher ongoing APR of 21.24 percent to 29.24 percent (variable) (See Rates & Fees) than its sibling, the Capital One Spark Cash Select for Excellent Credit card (which carries a 18.49 percent to 24.49 percent variable APR) (See Rates & Fees), the Good Credit card remains relatively low cost.

The card’s low-end variable APR is just slightly above the current average credit card interest rate, and you won’t be charged an annual fee, balance transfer fee ($0 at the Transfer APR; 3% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you) (See Rates & Fees) or foreign transaction fees. All three of these waived costs are valuable in their own right, but together they make it a great deal to transfer your balance to Capital One or use this card for business abroad.

Even so, it’s important to keep in mind that there is currently no intro APR offer on balance transfers on this card, so it’s not the best business card if you need a balance transfer. Additionally, missed payments incur an up to $39 late fee and could leave you stuck with a 34.65 percent variable penalty APR (See Rates & Fees).

How the Capital One Spark Cash Select with intro APR compares to other business cards

Though the Spark Cash Select for Good Credit intro APR is a better choice than the Capital One Spark Cash Select for Excellent Credit card if you need to chip away a large balance, it falls short of a few other no annual fee business cards that carry both an intro bonus and intro APR offer.

Image of Capital One Spark Cash Select for Good Credit
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Capital One's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

1.5% - 5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info
Image of The American Express Blue Business Cash™ Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on American Express's secure site

Annual fee

No annual fee

Intro offer

$250 statement credit
Info

Rewards rate

1% - 2%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info
Image of Ink Business Unlimited® Credit Card
Bankrate Score
Apply now Lock
on Chase's secure site

Annual fee

$0

Intro offer

Earn $750 bonus cash back
Info

Rewards rate

1.5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info

 

Capital One Spark Cash Select for Good Credit vs. Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card not only brings the same 1.5 percent flat-rate cash back to the table, but also offers a $750 sign-up cash back bonus (after spending $6,000 in the first three months) and 12-month 0 percent intro APR on purchases (followed by a lower 18.49 percent to 24.49 percent variable APR). And unlike Capital One, Chase’s business card roster is full of excellent partner cards. The Ink Business Preferred® Credit Card, for example, allows you to redeem your flat-rate rewards for Chase travel at a higher value.

Capital One Spark Cash Select for Good Credit vs. The American Express Blue Business Cash™ Card

If you have a side business, relatively low business expenses or already have a card for your specialized expenses,  The American Express Blue Business Cash™ Card could be another great no annual fee option. It earns 2 percent cash back on your first $50,000 in spending per calendar year and a 12-month 0 percent intro purchase APR (18.49 percent to 26.49 percent variable APR after that). Although the intro bonus is a bit low, the $3,000 spending requirement should be easy for most small-business owners to reach.

Meanwhile, if a 12-month intro APR offer sounds too short, the U.S. Bank Business Platinum Card might be the no-frills zero-interest business card you’re looking for. It comes with a top-tier 0 percent intro APR for 18 billing cycles on purchases and on balance transfers made within the first 30 days. Plus, the 17.24% to 26.24% variable APR that applies after the first 18 billing cycles is one of the lowest we’ve seen on a business card.

Best cards to pair with this card

You can maximize your cash back by pairing the Spark Cash Select for Good Credit with a rewards card that earns at a higher rate on bonus categories that line up with your biggest business expenses.

Capital One doesn’t carry any business cards for that sort of specialized spending, but cards like the Ink Business Preferred would be a good option if your business spends heavily on costs internet, phone services or advertising. An airline card or hotel credit card may also be a good option if you do a lot of business travel.

Bankrate’s Take: Is the Capital One Spark Cash Select for Good Credit with intro APR worth it?

The Capital One Spark Cash Select for Good Credit will be a step up from the original Spark Cash Select if you need a bit of extra time to finance purchases, but it’s not as big of an upgrade as the Capital One Spark Cash Select for Excellent Credit ($750 cash bonus when you spend $6,000 within the first three months). That card’s sign-up bonus is more than double the original.

And though Spark Cash Select for Good Credit intro APR is the better pick of the two versions if you need to finance a large purchase, competing no annual fee business rewards cards can deliver much more value since they typically offer comparable rewards, a decent intro purchase APR and a lower ongoing interest rate, all without skimping out on a sign-up bonus.

*For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

 

Written by
Garrett Yarbrough
Writer, Credit Cards

Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers.

Edited by Senior Editor, Credit Cards
Reviewed by Former Senior Editor, Credit Cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.