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Why the Capital One Spark Cash Plus is an easy-to-use card for businesses

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With an unlimited 2 percent cash back on all purchases, the Capital One Spark Cash Plus is an easy-to-use business card that offers straightforward rewards. The Spark Cash Plus card is the most recent upgrade from the older Capital One Spark Cash Card.

The Spark Cash Plus is a charge card, which means cardholders have to pay their balance in full each month, and there’s no APR or spending limit. The flat-rate cash back and unlimited spending make this an easy card to use with attractive perks for business owners.

Read on to find out more about what makes this card a great choice and whether the offerings will meet your business’ needs.

Details of the Capital One Spark Cash Plus

  • Rewards rate: Unlimited 2 percent cash back on all purchases
  • Welcome offer: Up to a $1,000 cash bonus—$500 once you spend $5,000 in the first three months, plus $500 once you spend $50,000 in the first six months of account opening
  • Annual fee: $150
  • Intro APRs: N/A
  • Regular APR: No APR; cardholders must pay their balance in full every month or face a 2.99 percent late fee

The Capital One Spark Cash Plus offers a two-tier welcome bonus, the first of which is easily attainable for a wide variety of cardholders. Earn up to a $1,000 cash bonus—$500 once you spend $5,000 in the first three months, plus another $500 once you spend $50,000 in the first six months.

The card does come with an annual fee of $150, but the unlimited 2 percent cash back will cover the fee when you spend at least $7,500 per year. Additionally, you’ll receive a $200 annual cash bonus when you spend $200,000 per year.

As a charge card, you’ll be faced with a 2.99 percent late fee if you don’t pay your monthly balance. On the plus side, as long as you pay on time, you’ll never have to worry about interest rates.

Why you might want to get the Capital One Spark Cash Plus

This card is best suited for business owners who want higher-than-average flat-rate cash back rewards on a charge card. If you tend to spend across categories or want to avoid the hassle of keeping track of bonus spending categories, like restaurants or travel, the Spark Cash Plus card offers a high cash back rate for general spending. Plus, there’s no limit on how much you can spend, which makes it a good alternative to credit cards with spending limits—especially if you plan to make large purchases while taking advantage of cash back rewards.

The welcome bonus of up to $1,000 is one of the top selling points of this card if your business plans to spend at least $50,000 in the first six months (or $8,333 per month). Note, you’ll receive the first $500 after spending $5,000 within the first three months. And if your expenses exceed $200,000 per year, you’ll be eligible for the $200 annual cash bonus.

Because this is a charge card rather than a credit card, it’s best suited for business owners who have a positive cash flow and are fully confident they’ll be able to pay on time every month. A charge card may also be an attractive choice if you want to make sure you’re not going to accrue debt or face interest charges. Just keep in mind that the late fee for missing monthly payments is 2.99 percent.

How does the Spark Cash Plus compare to other Capital One Spark cards?

The Spark Cash Plus card is only one of a group of Capital One’s Spark cards. If you want a credit card instead of a charge card, the Capital One Spark Cash Select – 0% Intro APR for 12 Months is a good option.

In addition to no annual fee, this card offers 1.5 percent cash back on unlimited spending. Though the cash back rate is lower than the Spark Cash Plus, it’s a better choice if you plan to spend less than $7,500 per year. It also has a 0 percent intro APR on purchases for the first 12 months (17.49 percent to 25.49 percent variable APR thereafter).

Capital One also offers a variation of this card, called the Capital One Spark Cash Select — $500 Cash Bonus. This option has a 14.74 percent to 20.74 percent variable APR and no introductory APR. However, you’ll receive a $500 cash bonus when you spend $4,500 within the first three months.

The Capital One Spark Miles for Business is another option for business owners who prefer to receive rewards in miles. You’ll accrue 50,000 bonus miles when you spend $4,500 within the first three months, and you’ll earn an unlimited 2X miles on every purchase with no minimums or expiration date. This card has a 22.49 percent variable APR and a $95 annual fee after the first year.

Alternatively, Capital One offers a sister version of this card, the Capital One Spark Miles Select for Business, that has a 0 percent intro APR for the first nine months on purchases (13.99 percent to 23.99 percent variable APR after that) and does not charge an annual fee. You’ll also receive 20,000 bonus miles once you spend $3,000 within the first three months. Though the rewards are smaller, this card is geared toward people who spend less.

The bottom line

The Spark Cash Plus card is an easy-to-use card for business owners, with a high cash back rewards rate and easy-to-attain bonus offer. If you’re looking for a straightforward charge card that still offers a high cash back rewards rate, this one is a solid choice.

Before you decide, make sure to read Bankrate’s list of the best business cards to make sure you choose the right card for your business and spending style.

The information about the Capital One Spark Miles Select for Business card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Written by
Leeron Hoory
Leeron is a New York-based journalist and writer with experience covering finance, fintech and real estate. She has also reported on topics ranging from daily news, arts and culture and politics. 
Edited by
Editor, Product
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Part of  Introduction to the Capital One Spark Cash Plus Credit Card