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The Capital One Spark Cash Plus is an intriguing product for high spending businesses wanting a card with straightforward rewards and a solid 2% cash back return on every purchase.
With no preset spending limit, the key difference of this card from a traditional credit card is adapting dynamically to your business needs, based on your annual spending habits, payment history, and credit profile, rather than giving a fixed, pre-approved amount. For businesses with large expenses, this flexibility and a solid cash-back return on spending – without caps or category restrictions – can give business owners great purchasing power.
The card also has a lower annual fee than many comparable small-business cards. But is the Spark Cash Plus the right card for you? 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 Business Travel.
Page Contents
Spark Cash Plus Pros
- Unlimited 2% Cash Back on every purchase.
- 5% cash back on hotels and rental cars booked through Capital One Business Travel.
- No caps or complicated bonus categories.
- No foreign transaction fees.
Spark Cash Plus Cons
- $150 annual fee eats into your cashback return if you don't spend at least $150,000.
- High spending requirement to earn the full welcome bonus.
- 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
For account opening, 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 with higher spending behavior.
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 Business 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 and business purchases.
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. Cash back never expires and can be redeemed in any amount as long as your account is active.
The rewards earned with the Spark Cash Plus aren't directly transferable to Capital One travel partners, but if you also carry a Capital One card that earns miles, you can 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 and transfer to one of the 22 Capital One transfer partners — mostly at a 1:1 transfer ratio.
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 the card has 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 individual spending limits to ensure no one charges more than you've allowed. This benefit is especially useful for businesses managing multiple employees and their purchases.
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's anniversary date, not the calendar year.
Cardholder protections
Cardholders enjoy additional benefits, such as $0 fraud liability, year-end summaries, virtual card numbers, extended purchase warranty, roadside assistance, and fraud and security alerts.
Access to Capital One Business Travel
The Capital One Business 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.
Application Restrictions and Strategy
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:
$0
- 1.5% cashback on every purchase
- 5% cash back on hotels and rental cars booked through Capital One Business Travel
$0 introductory fee for the first year;
$95 after that
- 2X miles per dollar on every purchase, everywhere, no limits or category restrictions
- 5X miles per dollar on purchases through Capital One Entertainment
- 5X miles on hotels, vacation rentals and rental cars booked through Capital One Business Travel
$195Rates & Fees
- 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
- 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.
- 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 22 airline and hotel programs or redeem in the travel portal at 1¢ apiece, as well as redeem them as a statement credit. Cardholders can also enjoy a credit to cover their Global Entry or TSA PreCheck application fee.
- If you want a business card with more cash back on large purchases, the Ink Business Premier® Credit Card (Rates & Fees) might be right for you. It also has no preset spending limit. Cardholders also earn at least 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.
Bottom Line
The Spark Cash Plus is a good fit for businesses with a high spending pattern that don’t want to worry about specific earning categories. As a pay in full card with no preset limit, it adapts based on your spending pattern and other factors, making it especially useful for companies with significant business purchases. Every time you swipe this card, you know you’re earning rewards at a rate of at least 2% Cash Back on every purchase.
Other cards might offer a better return if you invest time in learning rotating categories or maximizing transfer partners for outsized value. However, not everyone wants to spend the time and effort to accomplish that. For these business owners, the straightforward earning structure, combined with the potential 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 Business Travel.
For rates and fees of the cards mentioned in this post, please visit the following links: Ink Business Premier® Credit Card (Rates & Fees)
Not recommend to apply any CapitalOne credit card , will not allow purchase power. Require to purchase starting small amount from $10.00 to $100.00 each month must paid in full , any higher amount purchase will decline to purchase , have to wait following month. Example to purchase air tickets over $ 4,500 will not honor automatically , regardless to letting them know the card services, customer service are not very helpful. CapitalOne is communist system!