Key takeaways

  • Since the Capital One Spark Cash Plus offers a high rate of flat cash back on all purchases, this card can be a good fit for businesses that spend across a wide range of categories
  • Businesses that spend $200,000 or more per year will gain the most from this card since they’ll be able to earn the $200 annual spending bonus (offer not available)

The Capital One Spark Cash Plus is a simple business credit card that offers a straightforward cash back structure that can prove quite valuable to the average business owner. With this card, 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 on just one or two specific categories.

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

Capital One Spark Cash Plus rewards program benefits

Unlimited, flat rewards on all purchases

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 purchases and an unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel. You won’t have to worry about keeping up with revolving categories or spending limits, so it’s a great business card for those who spend across multiple categories.

However, note that this card comes with a $150 annual fee, so you’ll need to make sure you’re earning enough in rewards to make up for the cost of the fee. Also, keep in mind that you’ll be required to settle your balance each month — since the Capital One Spark Cash Plus is a charge card, not a credit card — so if you need to finance a large purchase or carry a balance, this is not the card for you.

Multiple ways to redeem rewards

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

  • Statement credits
  • Checks
  • Credits on prior purchases
  • Gift cards
  • Shop with Points on Amazon.com and via PayPal
  • Travel booked through Capital One Travel

Additionally, Capital One 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. Note that rewards will not expire as long as the account is open and in good standing.

The chance to earn an annual spending bonus

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

Welcome offer for new cardholders

As a new cardholder, you can earn up to a $1,000 cash bonus — $500 once you spend $5,000 in the first three months of account opening and an additional $500 once you spend $50,000 in the first six months of account opening.

Capital One Spark Cash Plus travel benefits

No foreign transaction fees

This card comes with no foreign transaction fees on purchases made outside of the U.S., so it would be a good card to take with you on a trip abroad.

Access to Capital One Travel

Through the Capital One Travel portal, you can book travel with cash or your rewards. You’ll also earn 5 percent cash back on all hotels and rental cars booked through Capital One Travel.

Standard travel benefits

Additionally, you’ll have access to travel and emergency assistance services, 24/7 roadside assistance and complimentary concierge service.

Capital One Spark Cash Plus protection benefits

Purchase protection

Eligible purchases made with the card will be protected for up to 90 days in eligible scenarios, including theft or damage.

Extended warranty coverage

You’ll also receive extended warranty coverage on eligible purchases, which can save you money in the long run.

Fraud and security protections

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. You can also utilize the Card Lock feature if your card is lost or stolen.

Access to virtual card numbers

Plus, through Eno, Capital One’s account assistant, virtual credit card numbers are available to use for added protection when shopping online.

Capital One Spark Cash Plus business benefits

Employee card benefits

With the Capital One Spark Cash Plus, you’ll receive free employee cards and you can set up customized spending limits for each card. You’ll also be able to earn additional rewards through these employee cards, as well as track spending and transactions.

Other business tools

Capital One offers numerous benefits catered toward business owners to aid them in managing their accounts. Business owners can download purchase records in multiple formats, access year-end itemized summaries, easily integrate their cards into platforms like Quickbooks and more.

How to maximize the Capital One Spark Cash Plus

Knowing how to make the most out of any 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 determined to earn the $200 annual cash back bonus — which you can earn after spending at least $200,000 each year — be sure 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 $500, for a total of $1,000 in cash back.
  • If you have employees, 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.

The bottom line

If you’re looking for a business card that will earn cash back on all purchases as opposed to just in specific categories, you may want to consider the Capital One Spark Cash Plus. With this card, 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 welcome offer and $200 annual cash back bonus (earned after spending at least $200,000 each year).