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The Capital One Spark Cash Plus is an intriguing product for business owners wanting a card with a solid return on every purchase. With this card, you'll earn unlimited 2% cash back on every purchase, plus it has a moderate annual fee of $150. That's lower than many comparable small business cards available.
The Spark Cash Plus is the best fit for high-spending small business owners looking for a business card with no preset spending limit and a solid cash-back return on spending. But is it the right card for you and your business? Let's take a closer look.
- Earn a one-time cash bonus of $2,000 once you spend $30,000 in the first 3 months
- Earn an additional $2,000 cash bonus for every $500K spent during the first year. You can earn this bonus multiple times over the course of year 1!
- Earn unlimited 2% cash back on every purchase, everywhere-with no limits or category restrictions
- 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
Page Contents
Spark Cash Plus Pros
- Earn 2% cash back on every purchase.
- No preset spending limit.
- No foreign transaction fees.
- Free additional employee cards
- Earn cash back on primary and employee cards.
Spark Cash Plus Cons
- $150 annual fee eats into your cashback return.
- The spending requirement to earn the full welcome bonus is too high for many businesses.
- Only earns cash back — unless you hold another Capital One miles-earning card.
- Must pay the full balance every month or incur late fees.
Spark Cash Plus Welcome Bonus
The Spark Cash Plus offers new applicants $2,000 Cash Back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year.
You'll notice this is a hefty amount of spending in a short amount of time to earn the bonus, which is why we only recommend this card to businesses that naturally have higher spending.
Spark Cash Plus Earning Rates
The Spark Cash Plus earns a flat rate of 2% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. There are no limits to the amount of cash back you can receive each year and no categories to track each quarter. That makes it a simple card to use for everyday spending.
Redeeming Cash Back With the Spark Cash Plus
Redeeming the cash back you have earned is very straightforward. Simply choose to redeem it as a statement credit toward your balance or a check in the mail. You can set up automatic redemptions — at certain dates or whenever your cash-back balance reaches a certain amount — or make a manual request whenever you'd like.
Cash back never expires and can be redeemed in any amount as long as your account is active.
Additional redemption options for those with a miles-earning card
If you also carry a Capital One card that earns miles, you'll unlock an additional redemption option. Capital One allows you to combine the rewards earned on the cash-back card with the miles earned on the other card.
Capital One miles can be transferred to 19 Capital One transfer partners — mostly at a 1:1 transfer ratio. With this option, you can often redeem your rewards for outsized value compared with cash back.
Spark Cash Plus Benefits
The Spark Cash Plus is pretty lean on benefits. However, there are a few worth noting.
No preset spending limit
One thing that sets this card apart from many other business cards is that it's a charge card rather than a typical credit card. This means there is no preset spending limit, which in turn means it could be a good fit for businesses that regularly have very high spending.
This doesn't mean you have unlimited spending power; instead, it means you aren't beholden to a traditional credit limit. Your spending ability adapts over time.
On the other hand, you must pay your bill in full every month or you will incur a late fee of 2.99% of the unpaid portion of your monthly statement amount. This is different from a typical credit card, which has an interest rate that accrues daily if your balance isn't paid, and only the minimum payment must be met each month to keep your account in good standing.
No foreign transaction fees
Business owners who regularly travel abroad can swipe the Spark Cash Plus for purchases without worrying about extra fees. That's because this card has no foreign transaction fees.
Related: Best Rewards Credit Cards With No Foreign Transaction Fees
Free employee cards
You can add employee cards at no additional cost and earn cash back from the purchases made on their cards. Furthermore, you can set spending limits to ensure no one charges more than you've allowed.
Annual fee refund
Another benefit for businesses that do sizable spending is that if you spend $150,000 or more on purchases, you'll receive a refund of your $150 annual fee on the card. This benefit is available each year and is based on the cardmember anniversary date, not the calendar year.
Access to Capital One Travel
The Capital One Travel portal is an easy-to-use website that helps you find and book travel. It offers a huge selection of flights, hotels, rental car options, and more. The Spark Cash Plus lets you access the portal to find lower travel prices.
If you wish, you can apply the cash back earned from the card to cover travel expenses in the travel portal.
Cardholder protections
Cardholders enjoy standard benefits such as $0 fraud liability, extended purchase warranty, and access to a Capital One virtual card number for extra safety when shopping online.
Application Restrictions
Capital One can be a bit stingy with approvals if you've recently opened a lot of credit cards or have many inquiries in your credit report, so it's wise to space out other applications or take a card application break for a few months before applying.
While Capital One's business credit cards tend to report to your personal credit report, its business charge cards don't — so long as the account remains in good standing. Because this is a charge card, it won't affect your 5/24 status with Chase.
Additionally, there are some further Capital One application rules to be aware of:
- You can't have more than five total Capital One personal cards, but this limit doesn't seem to apply to business cards.
- You can only open one Capital One card within six months.
- Capital One will likely pull your credit report from all three major credit bureaus.
Cards That Compete With the Spark Cash Plus
If the Spark Cash Plus isn't a fit for your business, consider these options instead:
- If you want a Capital One business card with no annual fee, consider the Capital One Spark Cash Select. This card earns 1.5% cash back on everyday spending. If your business spends less than $30,000 annually on a credit card, you won't earn enough cash back to justify the Spark Cash Plus Card's annual fee and should get the Spark Cash Select instead. Further details are in our Spark Cash Select review.
- If you want a Capital One business card that earns flexible miles instead of cash back, look into the Capital One Spark Miles for Business. You'll pay a $0 introductory fee for the first year; $95 after that. The card offers an unlimited 2x miles on everyday spending, and you can use these with 19 airline and hotel programs or redeem in the travel portal at 1¢ apiece, as well as redeem them as a statement credit. Cardholders also can enjoy a credit to cover their Global Entry or TSA PreCheck application fee. Further details are in our Spark Miles Card review.
- If you want a business card with more cash back on large purchases, the Ink Premier (Rates & Fees) might be right for you. It also has no preset spending limit. Cardholders earn unlimited 2% cash back on purchases but earn 2.5% cash back on purchases of $5,000 or more. The card also offers a wide range of travel and shopping protections for your purchases. Our Chase Ink Premier review has additional information.
- 1.5% cashback on every purchase
- 5% cash back on hotels and rental cars booked through Capital One Travel
- 2X miles per dollar on every purchase, everywhere, no limits or category restrictions
- 5X miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- 5% cash back on travel purchases through the Chase Travel℠ portal
- 2.5% cash back on purchases of $5,000 or more
- 2% cash back on all other purchases
Related: The Best Small Business Credit Card Offers Available This Month
Bottom Line
The Spark Cash Plus is a good fit for businesses with high spending that don't want to worry about specific earning categories. Every time you swipe this card, you know you're getting at least 2% back.
Other cards might offer a better return if you learn about their rotating categories or how to redeem miles with transfer partners for outsized value. However, not everyone wants to spend the time and effort to accomplish that. For these business owners, the simple earning structure here and the ability to earn a massive welcome bonus can make the Spark Cash Plus a winner in the right circumstances.
- Earn a one-time cash bonus of $2,000 once you spend $30,000 in the first 3 months
- Earn an additional $2,000 cash bonus for every $500K spent during the first year. You can earn this bonus multiple times over the course of year 1!
- Earn unlimited 2% cash back on every purchase, everywhere-with no limits or category restrictions
- 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
For rates and fees of the cards mentioned in this post, please visit the following links: Ink Business Premier® Credit Card (Rates & Fees)
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