Capital One Spark Cash Select Review

With a $0 annual fee, 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel, the Capital One Spark Cash Select is a solid, low-cost card. The card’s decent welcome offer sweetens the deal. You can earn $500 cash back once you spend $4,500 on purchases within the first 3 months from account opening.

Keep in mind that this card is geared towards consumers with excellent credit. If your credit score falls within this category, know that you can find top-tier cards that offer better rewards and benefits than this card.

• No annual fee

  When you have a small business, every penny counts, and you won’t be putting a single one toward the Capital One Spark Cash Select because it has a $0 annual fee. This means that all of your cash back earnings are truly that — cash back in your bank account.

• Sign-up bonus

  With the Capital One Spark Cash Select, you can earn $500 cash back once you spend $4,500 on purchases within the first 3 months from account opening.

  This isn’t the best bonus for a business credit card, but if you regularly spend over $1,500 a month on your business expenses, you can easily achieve it. If that amount is a stretch, consider buying office supplies or stocking up on materials that you know you will use, and have cash for so you can pay your balance in full to avoid paying interest.

• Earn unlimited cash back

  This card keeps rewards simple with a flat-rate amount you’ll earn in either of two categories: 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel.

  There are no rotating categories or spending caps. Additionally, there’s no limit to how much you can earn, and the rewards don’t expire as long as your account is open.

• No foreign transaction fee

  If business takes you outside the United States, physically or with an online purchase, know that you won’t be hit with extra foreign transaction fees because there are none.

• Free employee cards

  You can issue cards to employees at no extra cost. You can customize their spending limits and earn cash back on every purchase for your business.

• It's possible to earn a higher cash back rate

  The rewards earning rate of 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel isn’t bad and the simplicity is nice. However, you can earn higher rates on business cards with no annual fee.

  One example is the Ink Business Cash^® Credit Card, which lets you earn 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

• No elevated rewards on office expenditures

  While the flat-rate cash back is nice, if you spend a lot of money on office products or business travel this card may not be the best choice for you. Other cards like the Ink Business Cash^® Credit Card offer higher cash back rates on certain categories like shipping purchases, cable and phone services, advertising, office supplies and travel.

  If you’re looking for a travel card that earns miles, consider the Capital One Spark Miles Select for Business instead.

• excellent credit recommended

  The Capital One Spark Cash Select card was designed for consumers with excellent credit, which is a FICO score of over 800.

  For those with lower credit scores, the Capital One Spark Cash Select for Good Credit or Capital One Spark Classic for Business might be worth looking into. Secured business credit cards are another option if you don’t think you’ll qualify for an unsecured credit card.

Capital One Spark Cash Select card vs. Capital One Spark Cash Select for Good Credit

 
Like the Capital One Spark Cash Select (see rates & fees), the Capital One Spark Cash Select for Good Credit comes with a $0 annual fee and free employee cards. While there’s no sign-up bonus, it does come with an intro APR of 0% on purchases for 12 months, after which a 21.24% - 29.24% (Variable) APR applies. This is a good alternative card if you like the Capital One Spark Cash Select but don’t qualify due to having a lower credit score.

Capital One Spark Cash Select card vs. Ink Business Unlimited^® Credit Card

 
Business owners looking to earn cash back with a $0 annual fee should consider the Ink Business Unlimited^® Credit Card. Like the Capital One Spark Cash Select, it lets you earn unlimited 1.5% cash back on every purchase made for your business.

The sign-up bonus is even more generous: Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. However, note that the spending requirement is also higher. You’ll need to spend $2,000 per month to meet the target. Smaller businesses might find this challenging.

It’s also a good choice if you want to finance a new purchase. It comes with a 0% Intro APR on Purchases for 12 months. After that, a 17.99% - 23.99% variable APR applies.

The main downside is that there’s a foreign transaction fee of 3% of each transaction in U.S. dollars. Leave this card at home, or choose another one, if you travel abroad or buy inventory or supplies from overseas companies.

Capital One Spark Cash Select card vs. Capital One Spark Classic for Business

 
The Capital One Spark Classic for Business is a card for people with fair credit that comes with more modest rewards. It lets you earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions. Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. It lacks a sign-up bonus, which is common for cards that are designed for lower credit scores.

Through good use of your card plus the free employee cards, there’s potential to improve your credit score so that in the future you are qualified for better offers. Plus, it’s a good choice for making purchases outside the U.S. since it doesn’t charge a foreign transaction fee.

The Capital One Spark Cash Select card is a solid choice for businesses that want a cash back credit card without the hassle of categories or spending caps. It’s even better if your typical spending is high enough to meet the spending requirement to earn the sign-up bonus. The $0 annual fee helps keep your expenses low while the free employee cards ensure you get cash back on every business purchase (see rates & fees).

Since the Capital One Spark Cash Select and Capital One Spark Cash Select for Good Credit offer different types of sign-up bonuses, you need to consider which you qualify for. Check your credit score and then whether or not another card is better. And if your credit score is in the fair range, consider the Capital One Spark Classic for Business for your business spending.