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Every small business has expenses, whether big or small. When you use the right credit card, those expenses could earn you cash back — essentially earning a discount on running your business. The Capital One Spark Cash is a low-annual fee product that's great for small businesses with low expenses.
The card comes with a simple earning structure and access to the Capital One business suite of benefits. Keep reading to learn more about the Spark Cash.
- Earn $1,000 Cash Back once you spend $10,000 in the first 3 months from account opening
- 2% cash back for your business on every purchase, everywhere
- No foreign transaction fees
- $0 intro for first year; $95 after that
- 2% Cash Back on every purchase
- 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
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Capital One Spark Cash Pros
- Earn 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
- There's no cap on the cash back you can earn.
- $0 intro for first year; $95 after that.
Capital One Spark Cash Cons
- Earns cash back and not Capital One Miles, which could be maximized through travel partners.
- Other business cards offer better business-specific perks.
Capital One Spark Cash Welcome Offer
Currently, new applicants of the Spark Cash can earn $1,000 Cash Back once you spend $10,000 in the first 3 months from account opening.
The cash back will be applied to your rewards balance within two billing cycles. And the cash back you earn can be redeemed in the form of a statement credit or a check — or combined with the rewards earned on a Capital One miles-earning card, should you also carry such a product.
Related: How To Convert Capital One Cash Back to Miles for Transfer Partners
Capital One Spark Cash Benefits
Unlike a lot of other business cards out there, the Spark Cash is light on benefits. However, there are still a few benefits available to your business:
No annual fee for the first year
Spark Cash cardholders can take advantage of an annual fee that's $0 intro for first year; $95 after that. This means you can test-drive the card for a year before deciding if you want to re-up for year two and beyond.
$0 fraud liability
The Spark Cash comes with $0 fraud liability. This means that you can get a replacement card if your card gets lost or stolen as well as a cash advance.
Business tools
The Spark Cash has a few business-related tools that could be valuable to small business owners.
- Cardholders can get year-end summaries in the form of an itemized report to help with budgeting and taxes. Purchase records can also be downloaded into several formats, including Quicken, QuickBooks, and Excel.
- An account manager can be assigned to your Spark Cash account who can make purchases as well as payments and resolve any account issues.
- Employee cards are free when you have the Spark Cash. Business owners can control spending limits and earn rewards from employee cards.
Capital One Spark Cash Earning Rates
The Spark Cash earns an uncapped cash back on the following purchase categories:
- 2% Cash Back on every purchase
- 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
These are very simple categories to keep track of. And that's part of the allure of this card. It's a great card to use on virtually any kind of everyday purchase, and it's extra rewarding on bookings you make through the Capital One Travel portal.
Redeeming Rewards With the Capital One Spark Cash
Cash back rewards can be redeemed in the form of a statement credit to your account, as a check, or converted into travel rewards when you also carry a Capital One miles-earning credit card. The latter option is the best way to get more than face value out of your rewards.
Capital One has over a dozen travel partners, including Air Canada Aeroplan, Singapore Airlines KrisFlyer, and more. On average, AwardWallet users redeem Capital One miles at 2.03¢ apiece, making them an incredibly valuable rewards currency.
And you can potentially get even more value out of them by booking things like international business class, so it's worth checking out this card alongside a miles-earning Capital One card if you're interested in stockpiling travel rewards.
Application Restrictions
Before you apply for the Spark Cash, you'll need to gather some information:
- Legal names, addresses, and social security numbers of all business owners
- Legal business name, address, and business tax ID number (TIN)
Capital One is one of the stricter credit card issuers when it comes to application rules and restrictions and is especially sensitive to applicants who have opened a lot of cards in recent months when they apply for a new Capital One Card. You also cannot hold any more than two personal Capital One cards at once, though there is no limit to the number of business cards you can have.
Capital One will run your credit from all three credit bureaus and reports business cards to your credit account. This means that they will count against Chase's 5/24 rule.
Related: How to Get a Business Credit Card in 3 Easy Steps
Cards That Compete With the Capital One Spark Cash
- If you want to earn rewards on different kinds of purchases, consider the Ink Business Cash® Credit Card. You'll earn 5% cash back at office supply stores and on cellular phone, landline, internet and cable TV services and 2% cash back at gas stations and restaurants on the first $25,000 spent in combined purchases each account anniversary year. Better yet, this card carries no annual fee. Learn more in our full Ink Cash review.
- If you'd rather earn travel rewards instead of cash back, then the Capital One Spark Miles for Business is worth a look. This card imposes a $0 introductory fee for the first year; $95 after that. On purchases, you'll earn 2 Miles per $1 on every purchase, everywhere. 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One's travel booking site. And you can take advantage of additional benefits, like an up-to-$120 Global Entry or TSA PreCheck fee credit and no foreign transaction fees. Learn more in our full Spark Miles review.
- If your business spends a lot of money every month, check out the Capital One Spark Cash Plus. This card offers unlimited 2% cash back on every purchase, making it ideal for businesses with diverse spending needs. This card has no preset spending limit and no foreign transaction fees, offering flexibility and simplicity for businesses on the go. Note that the Spark Cash Plus is a charge card and the balance should be paid in full each month. Learn more in our full Spark Cash Plus review.
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- 1% cash back on all other card purchases with no limit to the amount you can earn
- 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
- 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
Related: This Month's Top Business Credit Card Offers
Bottom Line
The Capital One Spark Cash is great for small businesses that have small to medium-sized expenses. The cash back welcome bonus and $0 intro annual fee for the first year, and other business perks such as account manager and free employee cards are especially valuable benefits for business owners.
The card doesn't offer much in terms of travel rewards unless you also carry a Capital One miles-earning rewards card. In that case, you can redeem your cash back for miles by transferring to your other account. Additionally, unlimited 2% cash back on all purchases is easy if you want a simplified earning structure. However, if you'd like to take your earnings up a notch, you may want to consider something else.
- Earn $1,000 Cash Back once you spend $10,000 in the first 3 months from account opening
- 2% cash back for your business on every purchase, everywhere
- No foreign transaction fees
- $0 intro for first year; $95 after that
- 2% Cash Back on every purchase
- 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
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