This Capital One business card carries a number of benefits despite its $0 annual fee (See Rates and Fees). Although it’s not brimming with luxury perks for business travel, there are enough features to add everyday value.
Unless you have big purchases coming up and need to pay them off over time with an intro APR, the Capital One Spark Cash Select for Excellent Credit should carry more value than the Spark Cash Select for Good Credit thanks to its welcome offer and potentially lower ongoing interest rate.
Welcome Offer: A worthy upgrade
New cardholders can earn a $750 bonus after spending $6,000 within the first three months. That’s a huge step up from the bonus offered on the original Spark Cash Select (a $200 bonus after spending $3,000 in the first three months). Not only do you earn more cash back with this version of the card, but the spending requirement is only 50 percent higher — meaning you’re getting more bang for your buck than before.
A $750 bonus is a great deal considering you’d have to spend over $33,000 to earn that much via the card’s 1.5 percent cash back rate.
Perks: Pretty good for purchases, travel and employees
Capital One offers several ways to secure your card and give you peace of mind while shopping and traveling. Along with basic features like account monitoring and alerts, $0 fraud coverage for unauthorized charges and travel and emergency assistance, you’ll receive purchase security*, extended warranty protection (*), roadside assistance (fees apply) and MasterRental® insurance. This card also carries travel and emergency assistance, which can be helpful in a pinch thanks to the lost or damaged luggage reimbursement**.
You also get to enjoy free employee cards where you’re able to manage their transactions or assign an account manager to track expenses and handle transactions. You can even set custom spending limits on each employee’s card. Combined with the year-end purchase summaries and the auto-pay feature, controlling your business credit card expenses and the incoming cash back across all employees can be a streamlined process.
Rates and Fees: a low-cost option for business owners
This card is an excellent option for most business owners because there is no annual fee, no balance transfer fee and no foreign transaction fees (See Rates and Fees), making it a strong candidate for both day-to-day use and traveling abroad.
Although this version doesn’t offer an intro purchase or balance transfer APR, it does waive the balance transfer fee (which is a rare perk outside cards from credit unions). Plus, its 18.49 percent to 24.49 percent (variable) ongoing APR is lower than its counterpart with an intro APR (See Rates and Fees).