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Why I love the Capital One Spark Cash Plus

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Some business credit cards offer considerably better perks than others, although most of the top offers are only available to those who have qualifying credit and income. Either way, the Capital One Spark Cash Plus is one of the newest business cards people are falling in love with. With a flat 2 percent cash back rate on every purchase and a generous welcome bonus, it’s no wonder business owners have been eagerly signing up for this card.

To find out why the Capital One Spark Cash Plus is so popular with business owners, we’ve interviewed a handful of individuals who use this card for most of their business expenses and bills throughout the year.

Capital One Spark Cash Plus details

Before we dive into all the reasons users love the Capital One Spark Cash Plus, here are the main details you should know:

  • Welcome bonus: Up to a $1,000 cash bonus — $500 after you spend $5,000 in the first three months of account opening and another $500 after you spend $50,000 in the first six months
  • Rewards rate: Unlimited 2 percent cash back on all purchases and 5 percent cash back on hotels and rental cars booked through Capital One Travel
  • Annual bonus: $200 cash bonus after spending $200,000 or more each year
  • Annual fee: $150

5 reasons to love the Capital One Spark Cash Plus

One important detail to note about the Capital One Spark Cash Plus is that it’s a charge card, not a credit card. This means cardmembers are required to pay their balance in full each month and there is no interest charged on revolving debt. Further, those who fail to pay their balance in full each month are charged a 2.99 percent monthly late fee.

That said, there are many reasons to love this card:

The 2% cash back rate is exceptional

Jeff Neal, operations manager at Critter Depot, says his company sells small feed critters to zoos, pet stores and reptile owners every week, and that fierce competition in the industry leads to competitive pricing.

“I signed up specifically for the 2 percent cash back,” Neal says. “The 2 percent cash back gives us a little boost on our profit margins, which helps us offer more competitive pricing on crickets and composting worms.”

Neal also notes that his company redeems its rewards for statement credits to reduce the monthly balance owed. “We pay off our balance every month and use our rewards to help offset that balance,” says Neal.

No caps on rewards

Jeffrey Gabriel, who is the co-founder of, says he signed up for the card in late 2020 because he wanted to streamline some of his business payments.

However, he quickly fell in love with the card’s unlimited 2 percent cash back rate, especially since so many other cards have limits on rewards.

“I found several that offered lucrative cash back amounts, but only up to a few thousand dollars — then you get something like 1 percent cash back or no rewards at all on your purchases,” Gabriel says. “The Spark Cash Plus gives me 2 percent back on everything with no limitations. I like that simplicity.”

No preset spending limit

According to money coach Max Marvelous, the 2 percent back in flat-rate rewards is hard to beat, but it’s also nice that the Capital One Spark Cash Plus doesn’t have a preset spending limit. With no preset spending limit, he says he can charge his business expenses without worrying about exceeding his credit limit and incurring additional fees as a result.

“If one month I need to spend $3,000 and the next month spend $15,000, I can do it without stressing [over having] enough available credit,” Marvelous says. “When I can worry about one less thing, I am a happy man.”

Flexible redemption options

Marvelous also says he waits until he has around $2,500 in cash back in his account before redeeming for statement credits to cover payments to vendors and contractors.

This shows how flexible the redemption options are for this card. Not only can you redeem rewards for statement credits in any amount, but you can also redeem rewards for a check in the mail, gift cards or purchases on or via

Easy expense tracking for businesses

The Capital One Spark Cash Plus also offers free employee cards, which can simplify business accounting while helping the owner earn rewards on all of their business expenses and bills. More importantly, though, a dedicated business credit card helps business owners streamline and keep track of all of their spending.

Marvelous notes that using one business credit card for all of his spending makes everything easier to handle when it comes to monthly accounting. When tax time comes, only having one card to reconcile easily saves him 10 or more hours. “This simplicity was key to me applying for and using this card for my business,” he says.

The bottom line

If you’re a business owner who likes the idea of earning 2 percent cash back with no preset spending limit, the Capital One Spark Cash Plus could be exactly what you need. Rewards are flexible, and new cardholders can earn an initial cash bonus of up to $1,000 during the first six months ($500 once you spend $5,000 in the first three months and another $500 once you spend $50,000 in the first six months). While a $150 annual fee applies, you’ll get free employee cards and access to many other benefits, too.

That said, there are other top business credit cards to consider, including alternative business cards from Capital One. Be sure to compare all the best offers out there, including the Capital One Spark Cash Plus, until you find the right fit.

Written by
Holly D. Johnson
Author, Award-Winning Writer
Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more.
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Part of  Introduction to the Capital One Spark Cash Plus Credit Card