Capital One Spark Cash for Business review
The information about the Capital One Spark Cash for Business credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Capital One Spark Cash for Business: Details and benefits
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. Plus, employee cards come with no annual fee. Capital One waives the annual fee for the first year on the owner’s card. You’ll pay $95 a year thereafter.
Bankrate tends to favor rewards credit cards that make it easy on the cardholder to collect. Capital One Spark Cash for Business certainly does that with a 2% cash-back reward for all spending.
We also like that this card charges no foreign transaction fees, meaning if you or your employees do business outside the U.S., you won’t have to pay extra when putting spending on your credit card.
Is it worth it for you?
The Capital One Spark Cash for Business card will most likely appeal to business owners who want to keep things simple. This card is probably right for you if your expenses vary over the course of the year and aren’t concentrated in one specific category, like gas or office supplies.
This is an especially good card if your business expenses aren’t concentrated in traditional small-business-specific categories. There are other cards that offer more generous rewards in spending categories typically associated with businesses, but be prepared to track your category spending.
For business owners who put a fair amount on their credit cards, the welcome bonus may be a key to your decision to apply: You’ll earn $500 if you spend $4,500 on purchases within three months of account opening.
Get the most value from Capital One Spark Cash for Business
Like with most credit card choices, maximizing this card’s value comes down to your (or, in this case, your business’) spending habits. If you spend heavily on office supplies, for example, there are better options that could earn you hundreds of extra dollars in cash-back rewards every year.
But if you spend across a broad range of categories, this card can bring you more overall value throughout the year. Even spending just $1,000 on business expenses each month will earn you $240 cash back annually.
Along with the rewards, sign-up bonus and the free employee cards that also earn cash back, this card also comes with Visa Business benefits like auto damage and collision protection, emergency and travel assistance services and purchase protection, all of which can boost your value tremendously if you take advantage of them.
How to redeem rewards
Your Spark Cash for Business cash back never expires (for the life of the account) and you can redeem it in any amount at anytime. There is no fee to redeem your cash back.