Capital One Spark Cash Plus card overview
With a $150 annual fee, the Capital One Spark Cash Plus (see rates and fees) card offers 2% cash back on all purchases, with no cap on how many cash-back rewards you earn. In essence, the more you spend, the more you'll earn, whether you're buying office supplies or business dinners. Card rating*: ⭐⭐⭐½
* Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Spark Cash Plus is an improved version of the discontinued Spark Cash for Business, although it features a higher $150 annual fee (see rates and fees). To compensate, the Spark Cash Plus features a much higher sign-up bonus and the opportunity to get your annual fee refunded.
The Spark Cash Plus is this card is slightly different from a traditional credit card in that you have to pay the balance off in full every month. The main difference is that there's no preset spending limit, so this is a good thing for business owners with many expenses who need to go above their credit limit.
TPG recommends a good credit score of 740 or higher, but you may be able to get approved with a lower score.
Let's dive in to see if this card is for you.
Spark Cash Plus pros and cons
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Spark Cash Plus Welcome offer
The Spark Cash Plus comes with a welcome bonus of $2,000 cash back once you spend $30,000 in the first three months. Earn an additional $2,000 cash bonus for every $500,000 spent during the first year.
Related: The best time to apply for these Capital One cards based on offer history
Spark Cash Plus benefits
The Spark Cash Plus is a card with no preset spending limit, so it's flexible and can adapt to your needs based on your spending behavior, payment history, and credit history. Another aspect to note about charge cards is that there's no annual percentage rate since your balance is due in full every month (see rates and fees).
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If your business has many operating expenses, the Spark Cash Plus rewards you with a refund of your $150 annual fee every year you spend $150,000 or more. Still, that's a huge amount of money to spend just for a $150 benefit.
As with all Capital One credit cards, you'll enjoy no foreign transaction fees when you purchase abroad (see rates and fees).
Finally, you can request employee cards at no additional cost (see rates and fees) that funnel into your account as the primary cardholder.
Related: How to apply for a Capital One business credit card
Earning cash back on the Spark Cash Plus
The biggest draw of the Capital One Spark Cash Plus is its flat earning rate. You'll earn an unlimited 2% cash back on every purchase, everywhere — with no limits or category restrictions.
Depending on the type of card user you are, you may see this as a positive or a negative. But this is definitely a positive for those who want to maximize their business expenses without worrying if a purchase falls under a bonus category, as seen with many other business credit cards.
Related: Best business cash-back credit cards
Related: How to convert Capital One cash back into miles
Which cards compete with the Spark Cash Plus?
Below are a few of the cards that compete with this unique Capital One offering:
- If you prefer Chase: The Ink Business Cash® Credit Card has no annual fee but still has a great sign-up bonus of up to $750: $350 bonus cash back after you spend $3,000 on purchases in the first three months, and an additional $400 when you spend $6,000 on purchases in the first six months from account opening. You'll earn 5% cash back on the first $25,000 spent in combined purchases each account anniversary at office supply stores and on internet, cable and phone services. For more information, read our full review of the Ink Business Cash.
- If you don't want an annual fee: Along with the Ink Business Cash, there's also The American Express Blue Business Cash™ Card, a no-annual-fee card (see rates and fees) that offers a similar 2% rewards rate on up to the first $50,000 in purchases each calendar year, then 1% cash back earned is automatically credited to your statement. This card is a strong contender if your business is small and doesn't spend enough to justify the $150 annual fee on the Capital One Spark Plus. For more information, read our full review of the Blue Business Cash.
- If you want to earn a transferable currency: The Capital One Venture X Business has no preset spending limit, comes with lounge lounge access, a $300 dollar annual travel credit and a plethora of travel protections and insurance with a $395 annual fee (see rates and fees). It earns 2 miles per dollar on all purchases, 5 miles per dollar on flights booked through Capital One Travel and 10 miles per dollar on hotels and rentals booked through Capital One Travel.
For additional options, check out our full list of the best business cards.
Related: Your guide to the Chase Ink Business credit cards
Is the Spark Cash Plus worth it?
One of the most flexible rewards currencies is cash back. And few business cards have as much to offer in this regard as the Spark Cash Plus. However, while the 2% cash-back rate is solid, there are more valuable business credit cards out there if you want to maximize your earnings and continually build up your stash of rewards — whether it's cash back, points or miles.
Whether or not the Spark Cash Plus is worth it comes down to a couple of factors, including what type of rewards you want to earn and what your business expenses are month to month.
Related: Considerations for your small-business credit card strategy
Bottom line
With a simplified 2% earnings rate on all purchases, the Spark Cash Plus is a solid contender if you're a business owner looking for an easy return. However, if you want to get into the frequent flyer rewards game, then there are other business cards that could be a better fit.
Apply here: Capital One Spark Cash Plus
For rates and fees of the Amex Blue Business Cash, click here.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
