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Capital One Spark Cash Plus benefits guide

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The Capital One Spark Cash Plus is a simple business credit card, offering a straightforward cash back structure that can prove to be quite valuable for the average business owner.

With the Capital One Spark Cash Plus, you’ll earn an unlimited 2 percent cash back on all purchases—which can earn you considerable rewards over time, especially if your business spending isn’t focused in just one or two specific categories.

The Capital One Spark Cash Plus card’s rewards rate isn’t its only benefit. Keep reading to learn more about additional perks associated with the card and how to maximize its value.

Capital One Spark Cash Plus highlights

  • Rewards: Unlimited 2 percent cash back on all purchases
  • Welcome bonus: Up to a $3,000 cash bonus: $500 when you spend $5,000 in the first three months, plus an additional $2,500 when you spend $50,000 in the first six months
  • Annual bonus: $200 bonus cash after spending at least $200,000 each year
  • Annual fee: $150

Earning rewards

The Capital One Spark Cash Plus is a great cash back card for business owners. It offers a simple, straightforward cash back structure that can be highly rewarding. You’ll earn 2 percent cash back on all eligible purchases while only paying a $150 annual fee.

You won’t have to worry about keeping up with revolving categories or spending caps, so it’s a great business card for those who spend across multiple areas.

Keep in mind that you’ll be required to settle your balance each month, so if you need to finance a large purchase or carry a balance, this may not be the card for you.

Redeeming rewards

With the Capital One Spark Cash Plus, you can redeem your rewards for:

  • Statement credits
  • Checks
  • Credits on prior purchases
  • Gift cards
  • Checkout payments through and PayPal

If you also have a travel credit card from Capital One, you can transfer your rewards and redeem them for travel, which can help maximize their value. Additionally, Capital One also offers the option to automatically redeem cash back on a yearly date of the cardholder’s choice, or once their balance reaches a certain threshold ($25, $50, $200, $500 or $1,500).

Travel protection benefits

The Spark Cash Plus offers some standard travel and purchase protection benefits. Eligible purchases made with the card will be protected for up to 90 days against theft, loss, damage or fire. You’ll also receive extended warranties on these purchases, as well, which can save you money in the long run.

Additionally, if purchased with your card, you’ll receive reimbursement for lost luggage, as well as any problems that occur with eligible rental vehicles. Travel and emergency assistance, 24/7 roadside assistance and complimentary concierge service is also available.

Fraud protection

To ensure the safety of your account, Capital One offers cardholders fraud protection. If your card is stolen or lost, you can rest assured with $0 fraud liability and be able to receive a cash advance and emergency replacement card.

Card lock is also a benefit that can be utilized if your card is lost or stolen, and virtual credit card numbers are available for use (through Eno, Capital One’s account assistant) for added protection.

Business-related benefits and other perks

Since the Capital One Spark Cash Plus is a business charge card, Capital One offers benefits catered toward business owners to aid in managing their account.

For one, you’ll receive free employee cards, through which you can set up customized spending limits. You’ll also be able to earn additional rewards through these employee cards, as well as track spending and transactions.

Also beneficial to businesses is the benefit of being able to download purchase records in multiple formats as well as having access to year-end itemized summaries.

Annual bonus

With the Capital One Spark Cash Plus, you can earn an annual cash bonus of $200 if you spend $200,000 each year with your card. This means you’ll have to spend $16,667 a month to earn the bonus, but through this perk alone you can offset the annual fee.

How to maximize the benefits offered by the Capital One Spark Cash Plus

Knowing how to make the most out of a business card will help you to determine its long-term value to you as a cardholder. The suggestions below can help you maximize the value of your Capital One Spark Cash Plus card:

  • If you’re dead set on racking up rewards and earning the yearly annual bonus cash back, try to put as much spending as you can on this card (without, of course, spending beyond your means).
  • Plan on opening the card when you know you’ll be spending at least $5,000 in the first three months, so you can earn the $500 welcome bonus (or, even better, if you’re planning on spending $50,000 in the first six months, you won’t want to miss out on earning an additional $2,500).
  • Take advantage of the Capital One Spark Cash Plus card’s free employee cards. You’ll be able to pool all cash back earned into your account and maximize your rewards balance.
  • If you own a Capital One credit card that earns rewards on travel, transfer your cash back to maximize your rewards’ value.

The bottom line

With the Capital One Spark Cash Plus, you’ll earn 2 percent cash back on all purchases, which is a great option for businesses wanting a card with a straightforward cash back structure.

High-spending businesses can get even more value from the card’s other features, especially its first-year welcome offer and $200 annual cash back bonus (earned after spending at least $200,000 each year).

If you’re looking for a business card that will earn cash back across all purchases as opposed to just specific categories, take some time to consider the benefits of the Capital One Spark Cash Plus card.

Written by
Erin Bendig
Erin pairs personal experience with research and is passionate about sharing credit card information and personal finance advice with others.
Edited by
Editor, Product