Why we like this card: The Capital One Spark Cash Plus card rewards you for buying what your business needs every day and booking business travel. Plus, it offers a generous welcome bonus if you can meet the minimum spending requirement.
Pros
- 2% cash back on all purchases
- 5% cash back on rental car and hotel purchases made through Capital One Travel
- $1,200 welcome bonus
Cons
- High minimum spending requirement to earn the welcome bonus
- Must pay off the entire account balance each month
- $150 annual fee
Capital One Spark Cash Plus: Overview
APR
- Intro: N/A
- Purchase: N/A
- Balance transfer: N/A
- Cash advance: $3 or 3% of the amount of each cash advance, whichever is greater
- Penalty: N/A
Annual fee: $150
Foreign transaction fee: None
Late fee: 2.99% of the unpaid portion of your minimum payment
The Capital One Spark Cash Plus is a solid cash-back rewards credit card, especially if you use it enough to make the annual fee worth it. However, it is a charge card, so you’ll need sufficient cash flow to pay off your monthly balance. If you don’t, you’ll have to pay a late fee of 2.99% of the unpaid portion of your minimum payment. Your account will also be considered past due until the balance gets paid in full.
Capital One Spark Cash Plus: Rewards
You’ll earn 2% unlimited cash back on every purchase, everywhere—with no limits or category restrictions. You can also earn 5% unlimited cash back on hotels and rental cars booked through Capital One Travel.
Does Capital One Spark Cash Plus offer a bonus?
The Capital One Spark Cash Plus card currently offers a generous cash-back bonus. You’ll receive $1,200 once you spend $30,000 in the first 3 months of account opening.
How to redeem Capital One Spark Cash Plus rewards
You can withdraw or use the cash back you earn with your Capital One Spark Cash Plus card in a few different ways, such as:
Statement credit or check
You can receive your Capital One Spark Cash Plus cash back as a statement credit or have a check mailed to you. Capital One lets you set up automatic redemption to get your rewards on a specific date each year or when you reach a particular cash-back threshold. If you don’t opt for automatic redemption, you’ll have to submit a request for your statement credit or check.
Travel expenses
Your cash back can pay for your next adventure. Use it to cover airfare, rental cars, and hotel stays booked through Capital One Travel. The amount of cash back you need to fund your travels depends on the total cost of the trip.
Other ways
Capital One also offers other redemption methods, like gift cards or statement credits for specific purchases. However, redemption rates can change, so you should compare your options before committing.
Additional benefits
The Capital One Spark Cash Plus offers many other benefits in addition to unlimited cash back and a healthy welcome bonus, including:
- No preset spending limit. You won’t have an unlimited credit line, but your available credit will fluctuate based on your credit history and account activity.
- Annual fee reimbursement. If you spend at least $150,000 yearly the $150 annual fee will be refunded.
- Flexible due date. You can choose the time of month you want to pay your bill, allowing you to manage your company’s cash flow better.
- Employee cards (physical and virtual). Employees can earn cash back for your business within spending limits you control.
- Vendor payment. Use your account to pay vendors that normally don’t accept credit cards (a 2.9% fee applies).
- Fraud protection. Receive account alerts for suspicious transactions and enjoy 0% fraud liability if your card gets stolen or lost.
- Valuable reports. Review year-end summaries to assess your spending, create budgets, and prepare for tax time. You can also see recurring charges, helping you manage your expenses.
- Helpful integrations. Your card syncs with QuickBooks, Xero, and other financial platforms, making managing and growing your business easier.
- Extended warranties. You may be eligible for extra protection for items you purchase with your Capital One Spark Cash Plus card.
Is Capital One Spark Cash Plus right for you?
The Capital One Spark Cash Plus card may be right for you if you have high business expenses and prefer cash back to airline miles or other rewards. The card could also find a place in your wallet if you do a lot of company travel and don’t mind booking your transportation and accommodations through Capital One Travel.
However, you should probably look at other options if you won’t spend enough to justify the annual fee. You should also consider a traditional credit card versus a charge card if you’re concerned about having to pay off your balance in full every month.
Credit cards similar to Capital One Spark Cash Plus
Capital One offers a wide array of business credit cards. If the Capital One Spark Cash Plus card isn’t ideal for you, check out the Capital One Spark Miles for Business card.
Capital One Spark Miles for Business vs. Capital One Spark Cash Plus
The Capital One Spark Miles for Business card is like the Capital One Spark Cash Plus card, giving you unlimited 2x the rewards for any purchase. However, with this card, you’ll receive miles instead of cash back, making it a solid choice if you travel a lot.
In addition, the $95 annual fee gets waived during your first year as a cardholder. Since it will be lower than the Cash Plus card when it kicks in, you won’t need to spend as much to make the account worth it. Plus, the Capital One Spark Miles for Business card is a traditional credit card, so you may carry a balance from month to month and keep your account current (assuming you make at least the minimum monthly payment).
Frequently asked questions
What credit score do you need for Capital One Spark Cash Plus?
Capital One states you need excellent credit to qualify for the Capital One Spark Cash Plus card. Generally, having excellent credit means your credit score is 740 or higher.
What is the limit on Spark Cash Plus?
The Capital One Spark Cash Plus card has no predetermined spending limit. Instead, your spending cap will adjust based on your credit profile and purchase history.
Is Capital One Spark Cash Plus a charge card?
The Capital One Spark Cash Plus is a charge card, which means you must pay the entire balance due every month.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
Fortune Recommends™ credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
