Advice & Expertise Blog

Should You Get the Capital One® Spark® Cash for Business?

Should You Get the Capital One® Spark® Cash for Business?

September 28, 2018

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While many people prefer business credit cards that dole out flexible points you can transfer to airline and hotel partners, there’s something to be said about flat-rate, cash-back credit cards that take the guesswork out of your rewards game. With a flat-rate cash-back card, you don’t have to worry about bonus categories, earnings caps, or jumping through airline and hotel loyalty program hoops, for example. And you will never have to rack your brain to figure out complex rewards programs— or if you’re getting poor redemption value.

With that in mind, it might be wise to consider a flat-rate rewards card such as the Capital One® Spark® Cash for Business. This card doles out an unlimited 2% back for each dollar you spend, meaning you’ll never have to wonder if you’re maximizing bonus categories or approaching an earnings cap. You’ll also get a huge signup bonus and find a transparent redemption policy that is hard to beat. Check out the details on this card before you decide:

Capital One® Spark® Cash for Business

Highlights:

  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business

  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening

  • Use Spark Cash across all your business spend, with no categories to limit your purchasing

  • $0 intro annual fee for the first year; $95 after that

  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount

  • Get employee cards at no additional cost, and earn rewards from their business spend

What We Like About the Capital One® Spark® Cash for Business

If you’re in the market for a business credit card, there’s a lot to like about the Capital One® Spark® Cash for Business. Not only do you earn more than the standard 2% cash-back on all purchases, but there are no crazy bonus categories to pay attention to or keep track of. You can use your card for all your business expenses without having to worry about which category it will fall in or how much you’ll earn in rewards.

The signup bonus on this card also helps it be a clear winner, especially considering you’ll wind up with a minimum of $590 once your minimum spending requirement is met ($500 bonus plus 2% back on $4,500 minimum spending requirement).

Having the option to receive free employee cards is also a huge benefit since you can earn rewards on employee spending, too. Each of your workers having their own cards can also help you keep business transactions separate and avoid time consuming employee spending reimbursements.

On the redemption side, the Capital One® Spark® Cash for Business is extremely cut and dry. You have the option to redeem points for statement credits to your account in any increment. This is ideal whether you want to redeem your rewards in small amounts to cover specific purchases, or redeem them all at once for a large expense.

Finally, the fact this card’s annual fee is waived the first year makes the Capital One® Spark® Cash for Business a true no-brainer. You can earn almost $600 in cash back just for meeting the minimum spending requirement, and you can try out the card’s benefits for a full 12 months before you commit.

Capital One® Spark® Cash for Business

Credit Recommended:
Excellent, Good
Learn More
Capital One® Spark® Cash for Business
Credit Recommended:
Excellent, Good
Annual Fee
$0 intro for first year; $95 after that
Foreign Trans Fee
None
Regular APR
18.74% (Variable)
Learn More on Capital One® secure website.
Product Type
BusinessCard
Credit Recommended
Excellent, Good
Intro Rewards Bonus
500 Cash Back once you spend $4,500 on purchases within 3 months from account opening

Highlights

  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Use Spark Cash across all your business spend, with no categories to limit your purchasing
  • $0 intro annual fee for the first year; $95 after that
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
See additional details for Capital One® Spark® Cash for Business

Why Skip the Capital One® Spark® Cash for Business?

While the Capital One® Spark® Cash for Business is a smart option for any business owner who wants to earn a flat rate of cash-back, there are times when a more flexible travel credit card could leave you better off. This is especially true if the majority of your business spending falls in categories that other premier cards offer bonus points in, or if you prefer to redeem your points for travel expenses most of the time.

The Ink Business Preferred? Credit Card is a business card option that could be a better deal in this case. This card offers 80,000 points worth $1,000 in travel after you spend $5,000 on purchases within three months of account opening. You also get 3x points on select travel and business categories each year, as well as 1x points on all other purchases. Finally, you have the option to transfer points 1:1 to popular airline and hotel partners such as Southwest Airlines, Marriott Rewards, World of Hyatt, British Airways, and United MileagePlus.

How to Get the Most Out of the Capital One® Spark® Cash for Business

If you decide to pick up the Capital One® Spark® Cash for Business on its own or as a compliment to another rewards card, it’s important to make sure you get the most out of your efforts. Consider these steps after you sign up:

  • Use your card for all your business expenses. The best part about having a business card that doles out a flat 2% back is that you’ll earn significantly more rewards for every dollar you spend versus cards that offer just 1% back on regular purchases. Make sure to use your card for all your business purchases in-person or online to maximize your earnings.

  • Don’t forget to meet the minimum spending requirement for the signup bonus. Don’t ruin your chances at a $500 signup bonus by failing to meet your minimum spending requirement within three months. Make sure to note the day you sign up for your card — not the day you receive it — and start counting down three months from there. They will deny your signup bonus if you miss the date no matter how close you are.

  • Get cards for your employees. Make sure to get cards for all your trusted employees so you can earn rewards on their business purchases as well as your own. Also note that you can monitor all their purchases via your own online account management page.

  • Pay your balance in full each month. Considering this card comes with a 18.74% variable interest rate, you won’t want to carry a balance on it for the long run. Make sure to pay your business purchases off in full each month so you can avoid costly interest charges as well as long-term debt.




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