Capital One Spark Cash for Business Review


Capital One Spark Cash – Cash Back Business Card

  • Unlimited 2% Cash Back on all purchases
  • New Cardmember Sign Up Offer ($500)
  • Waived Annual Fee – $95 Thereafter
  • Interest Rate of 19.24% (variable APR)
  • Free Employee Credit Cards
  • No Foreign Transaction Fees
  • Access To Visa SavingsEdge

Business owners have many great options when it comes to credit cards.  The Spark Cash Card is a great, straightforward cash rewards card.  This card comes with the benefit of a huge $500 initial sign up offer.  Furthermore, all purchases will earn 2% cash back.  Many businesses will find this to be the perfect card for earning rewards with their everyday purchases.

Spark Cash Business Card
Spark Cash Business Card – Features A Clean Green Design

Spark Cash New Cardmember $500 Sign Up Bonus

One of the brightest features of the Spark Cash Card is the new customer sign up bonus.  This is one of the biggest cash reward offers out there.  Customers who meet the spending requirements will be credited with a $500 cash bonus.  Business owners should make sure they are able to complete the spending requirements as this is too good of a bonus to not take advantage of.

In order to qualify for the bonus you will need to charge $4,500 on your new account within the first 3 months of opening your account.  Once you have completed the spending requirements you rewards account will be credited.  This sign up offer alone would equate to over 11% cash back on your first $4,500 in purchases.  Additionally, you will still be earning the 2% back on all of these purchases as well.

Spark Card Features and Benefits

As mentioned above, this card provides some serious benefits for business owners.  The most obvious feature of this card is the flat rate of 2% cash back.  This rate applies to all purchases and there is no limit to the total amount of cash back that can be earned.  Cardholders can also redeem their cash back with no minimum amounts required.  Even better, there are no categories to worry about so all of your purchases will earn the same rate.

Another great feature of this card is the ability to manage your finances with employees.  Business owners are eligible for free credit cards for their employees.  This will allow you to keep all of your expenses accounted for in one place.  Business owners will also receive quarterly and yearly reports that itemize their spending.  This will allow for business owners to better account for their finances.  You will also be able to integrate your spending with accounting solutions including Quicken, Quickbooks, and Excel.

Cardholders will also receive fraud protection benefits with real time updating if unauthorized charges are posted to their account.  You will also receive purchase protection insurance.  This allows you to have coverage for purchases for the first 90 days after buying.  Protection includes damages and theft.  Extended warranties are also provided up to a year beyond the manufacturer warranty for eligible purchases.

Applying For The Spark Cash Business Card

It should be noted that this credit card is designed for business owners and businesses with excellent credit.  For some business owners this may mean that you will need to start with a lower level business card.  For well established businesses and owners, the Spark Cash Card will likely be able to apply and receive approval for the card.

The application can be completed online through Capital One.  In order to complete the application you will need to provide information about your business including:

  • Business Name and Contact Information
  • Business Legal Structure and Tax ID Number
  • Annual Business Revenue
  • Monthly Business Spending

Applicants will also be required to complete a personal information section for the business owner applying for the credit card.  The application requires personal details including:

  • Applicants name and contact information
  • The role of the applicant with the business
  • Annual income and living expense information

After completing the application your credit will be reviewed.  Decisions are typically able to be provided right away.  Once you receive your new card you can activate your Spark Cash card and begin using your account immediately.

Not Interested In A Cash Back Card For Your Business?  Check out our write up on the Aviator Business MasterCard to learn more about a travel rewards option!

Spark Cash vs The Competition

One of the biggest competitors to the Spark Cash Card is the Chase Ink Preferred Card.  Both of these cards are premium business credit cards.  The annual fees are identical for the two credit cards ($95 each).  Unlike the Spark Cash Card, there is no waived annual fee for the first year with the Chase Ink Preferred.  Overall, the Spark Cash has a superior rewards program with 2% back on all purchases.  However, the Chase Ink Preferred wins in terms of new cardholder sign up bonus (80,000 points worth about $1,000).

There are lower level business cards that do not charge an annual fee.  These may be good for some businesses but if you have large spending with your business than the more premium cards will be a better option in the long run.  Overall, the Spark Cash Card stacks up very competitively with similar fee business credit cards.

Final Thoughts – Spark Cash Card by Capital One

Business owners will find that this card offers some great incentives.  There are no annual fee options available (Such as the Chase Ink Unlimited Card) but the 2% cash back rate will not be topped by no fee cards.  To put the $95 annual fee in perspective, a business that spent $10,000 annually on their card would earn $200 in rewards each year.  Given the additional perks, there are quite a few reasons by business owners would gladly pay this annual fee.

Are you a business owner who uses a business credit card for your purchases?  Let us know what your favorite card is in the comments below!


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