Capital One Spark Cash Plus review: Solid 2% cash-back on all business expenses
Capital One Spark Cash Plus card overview
With a $150 annual fee, the Capital One Spark Cash Plus (see rates and fees) card offers 2% cash back on all purchases, with no cap on how many cash-back rewards you earn. In essence, the more you spend, the more you'll earn, as you'll be sure to maximize your purchase, whether you're buying office supplies or business dinners. Card rating*: ⭐⭐⭐
* Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Spark Cash Plus is an improved version of the discontinued Spark Cash for Business, although there's a higher $150 annual fee. To compensate, the Spark Cash Plus features a much higher sign-up bonus and the opportunity to get your annual fee refunded.
The Spark Cash Plus is also a charge card, which is slightly different from a traditional credit card. The main difference is that there's no preset spending limit, so this is a good thing for business owners with many expenses who need to go above their credit limit.
Let's dive in to see if this card is for you.
Spark Cash Plus Welcome offer
The Spark Cash Plus comes with a sign-up bonus of $1,200 once you spend $30,000 in the first three months.
By meeting the minimum spend requirement, you'll earn a total of $1,800 cash-back—$1,200 from the sign-up bonus and $600 in cash-back from the regular earn rate.
Still, $30,000 is a huge minimum spend requirement, and several business cards offer more attractive welcome bonuses.
Earning cash back on the Spark Cash Plus
The biggest draw of the Capital One Spark Cash Plus is its flat earning rate. You'll earn an unlimited 2% cash back on every purchase, everywhere — with no limits or category restrictions.
Depending on the type of card user you are, you may see this as a positive or a negative. But this is definitely a positive for those who want to maximize their business expenses without worrying if a purchase falls under a bonus category, as seen with many other business credit cards.
Redeeming cash back on the Spark Cash Plus
As long as you keep your account open, your rewards will never expire.
You can redeem your rewards at any amount, even if you've accrued just $10 in cash back. You can choose to redeem for a statement credit (to reduce your account balance) or a check.
Spark Cash Plus benefits
The Spark Cash Plus is a charge card with no preset spending limit, so it's a flexible card that can adapt to your needs based on your spending behavior and your payment and credit history. Another aspect to note about charge cards is that there's no annual percentage rate since your balance is due in full every month.
If your business has many operating expenses, the Spark Cash Plus rewards you with a refund of your $150 annual fee every year you spend $150,000 or more. Still, that's a huge amount of money to spend just for a $150 benefit.
As with all Capital One credit cards, you'll enjoy no foreign transaction fees when you make purchases abroad.
Finally, you can request employee cards at no additional cost that funnel into your account as the primary cardholder.
Which cards compete with the Spark Cash Plus?
Below are a few of the cards that compete with this unique Capital One offering:
- If you prefer Chase: The Ink Business Cash Credit Card has no annual fee but still has a great sign-up bonus of $900 after spending $6,000 in purchases in the first three months of account opening. You'll earn 5% cash back on the first $25,000 spent in combined purchases each account anniversary at office supply stores and on internet, cable and phone services. For more information, read our full review of the Ink Business Cash.
- If you don't want an annual fee: Along with the Ink Business Cash, there's also The American Express Blue Business Cash™ Card, a no-annual-fee card (see rates and fees) that offers a similar 2% rewards rate on up to the first $50,000 in purchases each calendar year, then 1% cash back earned is automatically credited to your statement. This card is a strong contender if your business is small and doesn't spend enough to justify the $150 annual fee on the Capital One Spark Plus. For more information, read our full review of the Blue Business Cash.
For additional options, check out our full list of the best business cards.
Read more: Your guide to the Chase Ink Business credit cards
Is the Spark Cash Plus worth it?
It's hard to argue that the most flexible rewards currency is — wait for it — cash back. And few business cards have as much to offer here as the Spark Cash Plus. However, whilst the 2% cash-back rate is solid, there are more valuable business credit cards out there if you want to maximize your earnings.
Bottom line
With a simplified 2% earnings rate on all purchases, the Spark Cash Plus is a solid contender if you're a business owner looking for an easy return. However, if you want to get into the frequent flyer rewards game, then there are other business cards that are a better fit.
Official application: Capital One Spark Cash Plus
For rates and fees of the Amex Blue Business Cash, click here.
Additional reporting by Ryan Wilcox and Chris Dong.